Upland Trail , Prole, IA 50229(Madison County)

These tracts will be offered via a live public auction that will be held at the Patterson Community Center on Friday, September 15, 2023, beginning at 10:00 AM. The land will be offered as three individual tracts and on a price-per-acre basis. These tracts will not be offered in their entirety after the auction. This auction can also be viewed through the Peoples Company mobile bidding app and online bidding will be available.

AUCTION DETAILS

#16968 Madison County Auction Terms & Conditions

Sellers:

The Carole A. Lynch Marital Trust

The Janet Alice Schissel Estate

The Helen M. Lynch Family Trust

The Robert J. Lynch Family Trust

The Trustee of the Carole A. Lynch Marital Trust:

Thomas M. Lynch

The Executor of the Estate of Janet Alice Schissel:

Mark Schissel

The Co-Trustees of the Helen M. Lynch Family Trust:

Joshua Butcher and Katelyn Lynch-Butcher

The Co-Trustees of the Robert J. Lynch Family Trust:

Ryan T. Lynch and Mark Schissel

Attorney for the Carole A. Lynch Marital Trust:

Matthew Bollman, Attorney at Law

Pearson Bollman Law - West Des Moines, Iowa 50266

Attorney for the Robert J. Lynch Family Trust and the Estate of Janet Alice Schissel:

Jane E. Rosien, Attorney at Law

Flander Rosien, P.C. - Winterset, Iowa 50273

Auction Location:

Patterson Community Center

150 8th Street

Patterson, Iowa 50218

Auction Method: Tracts 1, 2, and 3 will be sold individually and on a price-per-acre basis. These tracts will not be offered in their entirety after the auction.

Tract 1: 160 Acres M/L

Tract 2: 184 Acres M/L

Tract 3: 120 Acres M/L

Farm Program Information: Farm program information is provided by the Madison County Farm Service Agency. The figures stated in the marketing material are the best estimates of the Seller and Peoples Company; however, farm program information, base acres, total crop acres, conservation plan, etc. are subject to change when the farms are reconstituted by the Madison County FSA and NRCS offices.

Earnest Money Payment: A 10% earnest money payment is required on the day of the auction. The earnest money payment may be paid in the form of a good check or wire transfer. All funds will be held in the Flander Rosien P.C. Trust Account.

Closing: Closing will occur on or around Tuesday, October 31, 2023. The balance of the purchase price will be payable at closing in the form of a certified check or wire transfer. Concerning the timing of the Sellers and successful Buyer(s) in fulfilling the obligations outlined in the Real Estate Sale and Purchase Agreement, time is of the essence. Closing will be held at the Flander Rosien Law Firm in Winterset, Iowa.

Possession: Possession of the farm will be given at closing, subject to the current tenants rights.

Farm Lease: Tract 1 is rented for hay and crops for the 2023 farming season. Tract 2 is rented for hay, crops, and pasture for the 2023 farming season. Tract 3 is rented for crops and pasture for the 2023 farming season. These farms will have open leases for the 2024 farming season.

Survey Information: Tracts 1 and 2 will be sold based on current legal descriptions in the abstracts. The East 40 m/l acres on Tract 3 were surveyed to determine the property boundaries. The remainder of Tract 3 will be sold based on the current legal description in the abstract(s).

Contract & Title: Immediately upon the conclusion of the auction, the high bidder(s) will enter into a Real Estate Sales Contract and deposit with Flander Rosien, P.C. the required earnest money payment. The Sellers will provide current abstracts at their expense. The sale of this farmland is not contingent upon Buyer(s) obtaining financing after the auction is over. All financial arrangements are to have been made before bidding at the auction.

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number to bid at the auction. Online and phone bidders must register with the Auctioneer & Listing Agents at least 24 hours before the start of the auction.

Driveway Entrances: Each tract currently has its separate driveway entrance off of the gravel roads. Tract 2 has additional easement access located along Upland Trail in the southeast corner of this tract. Additionally, a second driveway for Tract 2 on the East 1/2 of the south fence line has been approved by the Madison County Engineer's Office. If the new owner(s) of any tract elects to install a new driveway entrance or widen any current driveway entrance then that owner will be responsible for installing them per the Madison County Engineers Office plans and specifications. Any costs associated with the installation of new driveway entrances or widening of entrances, if needed, will be at the sole expense of the new Buyer(s) of each tract. The Sellers will not install any new driveway entrances or widen any of the existing driveway entrances.

Fences: Existing fences, if any, are in as-is condition and will not be updated. Not all property lines have fences installed. No new fences will be installed by the Sellers. All current and any future fences and fence lines shall be governed by Madison County and the State of Iowa fence line rules and regulations. Existing fence lines may not be located on the true boundary lines.

Tract 2 Crossing: The crossing across the main ditch on Tract 2 to access the northeast portion of the farm needs repairs. The successful Buyer(s) will be responsible for any improvements made to this crossing.

Site Cleanup: If a site clean-up is required on any of the tracts, it will be the new Buyers responsibility and at Buyers expense.

Other: This sale is subject to all easements, covenants, leases, and restrictions of record. All property is sold on an As is Where is basis with no warranties, expressed or implied, made by the Auctioneer, Peoples Company, or Sellers. All bids will be on a per-acre basis. Peoples Company and its representatives are agents of the Sellers. The winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made on auction day by the Auctioneer or Listing Agents will take precedence over all previous marketing material or oral statements. Bidding increments are at the sole discretion of the Auctioneer. No absentee or phone bids will be accepted at the auction without prior approval of the Auctioneer. All decisions of the Auctioneer are final.

Disclaimer: All field boundaries are presumed to be accurate according to the best available information and knowledge of the Sellers and Peoples Company. Overall tract acres, tillable acres, etc. may vary from figures stated within the marketing material. Buyer should perform his/her investigation of the property before bidding at the auction. The brief legal descriptions in the marketing material should not be used in legal documents. Full legal descriptions will be taken from abstracts.