Perry Street , Knoxville, IA 50138(Marion County)

Marion County, Iowa Land Auction Peoples Company is pleased to represent Howard "Jack" Aleff in the sale of 274.49 acres m/l located just off Perry Street, southwest of Knoxville, Iowa. The farmland will be offered in three separate tracts via Public Auction and will take place at 10:00 AM on October 11th at the National Sprint Car Hall of Fame & Museum. These farms have a storied history and have been proudly owned by the Seller for four decades. Two excellent tillable tracts with top-producing soil types will be offered, as well as a very nice hunting and recreational tract with income-producing tillable acres, hardwood timber, multiple draws, thickets, and great access. All three tracts offer excellent building sites for the high bidder to build their dream home in rural Marion County. These farms are only a few miles south of Highway 5 and are only a short drive away from the Des Moines Metro area.

Tract 1: 117 acres m/l with an estimated 102.90 FSA cropland acres carrying a CSR2 value of 77.9. (Partial survey to be completed)

Tract 2: 62.99 acres m/l with 49.40 FSA cropland acres carrying a CSR2 value of 72.3. (Survey to be completed)

Tract 3: 94.5 acres m/l with 31.66 FSA cropland acres carrying a CSR2 value of 68.2 (Survey to be completed)

The farmland will be offered as three individual tracts via the Buyers Choice auction method through a live in-person auction as well as a virtual live online auction option. Online bidding will be available as well. With the "Buyers Choice" auction method the high bidder can take, in any order, any or all tracts for their high bid. "Buyer's Choice" auctioning will continue until all three tracts have been purchased and removed from the auction. The tracts will not be offered in their entirety or any combination after the auction.

AUCTION DETAILS

Marion County, Iowa Land Auction

274.49 Acres M/L - Offered in 3 Tracts

Wednesday, October 11th, 2023 at 10:00 AM

Seller: Howard "Jack" Aleff

Auction Location:

National Sprint Car Hall of Fame & Museum

1 Sprint Capital Place

Knoxville, IA 50138

Online Bidding: Register to bid on our website. 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 a 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 farm 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, two, or all tracts for their high bid. "Buyers Choice" auctioning will continue until all tracts have been purchased and removed from the auction. Tracts will not be offered in their entirety after the auction. The tracts will be sold via Public Auction on Wednesday, October 11th, 2023 at 10:00 AM at the National Sprint Car Hall of Fame & Museum in Knoxville, Iowa. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available. The Seller reserves the right to accept and/or reject any bids.

Tract 1: 117 Acres M/L

Tract 2: 62.99 Acres M/L

Tract 3: 94.50 Acres M/L

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number 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 the Peoples Company Trust Account.

Closing: Closing will occur on or before Wednesday, November 22nd, 2023. The balance of the purchase price will be payable at closing in the form of cash, guaranteed checks, or wire transfers.

Possession: Possession of the land will be given At Closing, Subject to the Tenant's Rights. Full possession will be given after the crop has been harvested in the Fall of 2023.

Farm Lease: The farm lease has been terminated and is open for the 2024 cropping season.

Contract & Title: Immediately upon the 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. The Sale is not contingent upon Buyer financing.

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.

Surveys: A survey will be completed by the Seller. The farmland acres are subject to change after the survey has been completed but before the auction. No additional surveying or staking will be provided by the Seller.

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. 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 Seller 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 the abstract.