Gear Street , Pleasantville, IA 50225(Marion County)

These farmland tracts are comprised primarily of the deep, well-drained Downs silt loam soils carrying above county-average CSR2 soil ratings with gently rolling slopes and terraces that allow water to naturally navigate off of the property. Both farmland tracts have extensive improvements including well-maintained waterways and drainage tile. A drainage tile map is in the process of being created and please reach out to the listing agent for a copy of it.

The farm has been crop shared by a local, reputable tenant for several years and the yield history for these acres is available. The farm has been a strong producer with an Approved APH (Actual Production History) Yield of 195 bushels per acre for corn and 52 bushels per acre for soybeans; compared to the Marion County average of 174 and 52.8. Yields for the most recent crop years show corn yields of 188, 171, and 243 and soybean yields of 52, 56, and 57. The acres for Tracts #2 and #3 acres are subject to change based on the final survey. No additional surveying or staking will be provided by the Seller.

Located just one-half mile off a paved state highway, Tract #3 is a premier building site that offers multiple locations suitable to build nearly all home types and walkouts. There is a driveway entrance on the southeast corner of the tract. The property offers privacy and plenty of recreational opportunities combined with spectacular views of hardwoods and the rural countryside of Marion County, Iowa. Utilities include an available 2" rural water line running along the east side of Gear Street through Marion County Rural Water and electricity through Pella Cooperative Electric Association. The buyer should verify both the electric and rural water availability before bidding at the auction.

Tract #1 - 80 Acres M/L

Tract #2 - 54 Acres M/L

Tract #3 - 26 Acres M/L

The farm lies within the southwest quarter of Section 5 of Pleasant Grove "S" Township in Marion County, Iowa. The three tracts will be offered via Public Auction and will take place at 10:00 AM at the Pleasantville Memorial Hall in Pleasantville, Iowa 50225. The tracts will be sold as three individual tracts using the "Buyers Choice" auction method on a price per acre basis, and the high bidder can take, in any order, one or both tracts for their high bid. "Buyer's Choice" auctioning will continue until all three tracts have been purchased and removed from the auction. Tracts will not be offered in their entirety at the conclusion of the auction. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available.

AUCTION DETAILS

Marion County, Iowa Land Auction

160 Acres M/L

Thursday, November 3rd, 2022 at 10:00 AM

Seller: Arden Rex Shoop Revocable Trust

Auction Location:

Pleasantville Memorial Hall

101 N Jefferson Street

Pleasantville, IA 50225

Online Bidding: Register to bid on our website or call Listing Agent. Potential bidders may have access to the live auction by utilizing Peoples Company's online auction platform via the Internet. By using Peoples Company's online auction platform, bidders acknowledge that the Internet is known to be unpredictable in performance and may, from time to time, impede access, become inoperative, or provide slow connection to the online auction platform. Bidders agree that Peoples Company nor its affiliates, members, officers, shareholders, agents, or contractors are, in any way, responsible for any interference or connectivity issues the bidder may experience when utilizing the online auction platform.

Auction Method: The three tracts will be offered via Public Auction and will take place at 10:00 AM at the Pleasantville Memorial Hall, Pleasantville, Iowa. All tracts will be sold on a per-acre basis and will be offered through the "Buyer's Choice Auction Method", whereas the winning bidder may elect to take, in any order, one or any of the tracts for their high bid. The "Buyer's Choice Auction Method" auctioning will continue until all three tracts have been purchased and removed from the auction. Tracts will not be offered in their entirety at the conclusion of the auction. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available.

Tract 1: 80 Acres M/L

Tract 2: 54 Acres M/L

Tract 3: 26 Acres M/L

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number in order to bid at the auction. Peoples Company and its representatives are agents of the Seller. Winning bidder(s) acknowledge they are representing themselves in completing the auction sales transaction.

Farm Program Information: Farm Program Information is provided by the Marion 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 farm is reconstituted by the Marion 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 cash or check. All funds will be held in Peoples Companys Trust Account.

Closing: Closing will occur on or before Friday, December 16th, 2022. The balance of the purchase price will be payable at closing in the form of cash, guaranteed check, or wire transfer.

Possession: Possession of the land will be given At Closing, Subject to Tenant's Rights.

Farm Lease: The farm is available for the 2023 cropping season.

Contract & Title: Immediately upon conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Peoples Company the required earnest money payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon Buyer financing.

Surveys: A survey will be completed by the Seller for Tracts #2 and #3. The farmland tract acres are subject to change after the survey has been completed, but prior to the auction. No additional surveying or staking will be provided by the Seller.

Fences: Existing fences, if any, are in as-is condition and will not be updated or replaced by the Sellers. Not all tract and boundary lines are fenced and if needed, will be the responsibility of the Buyer at closing. Existing fence lines may not fall directly on the legal boundary.

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 Seller. All bids will be on a per-acre basis. Peoples Company and its representatives are agents of the Seller. Winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made 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 Seller and Peoples Company. Overall tract acres, tillable acres, etc. may vary from figures stated within the marketing material. Buyer should perform his/her own investigation of the property prior to 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 abstract.