U.S. 34 , Villisca, IA 50864(Montgomery County)

The farm is comprised of 647.15 FSA cropland acres with top producing soils including Colo silt loam, Marshall silty clay loam and Minden silty clay loam which carry an overall farm average CSR2 rating of 80.6. The balance of the FSA cropland acres consists of 12.73 acres of CRP with an annual payment of $4,428. Farm improvements include 5 grain bins with estimated grain storage totaling approximately 107,000 bushels. Located in a strong farming community, these tracts would make for a great add-on to an existing farm operation or investment-grade quality land purchase.

These tracts are conveniently located along both sides of Highway 34 near the Highway 34/71 interchange providing quick access to nearby grain marketing options.

A three percent (3%) Buyer's Premium will be added to the final bid price and included in the total purchase price.

AUCTION DETAILS

Montgomery County Land Auction

702.76 Acres M/L

Offered in Seven Separate Tracts

Wednesday, October 20, 2021

2:00 PM

Auction Location:

Cass County Community Center

805 W 10th Street

Atlantic, Iowa 50022

Auction Method: The Farm will be offered in 7 individual tracts via the Multi-Parcel Auction Method where tracts will be able to be purchased individually or any combination. All tracts will be offered in "whole dollar" amounts.

Bidder Registration: All prospective bidders must register with Peoples Company and/or The Lund Company Cushman/Wakefield (the "Auction Company") and receive a bidder number in order to bid at the auction.

Buyers Premium: Purchaser will be responsible for payment of a premium of Three Percent (3%) of the purchase price, such amount to be payable at Closing.

Agency: The Auction 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 Montgomery County Farm Service Agencies. The figures stated in the marketing material are the best estimates of the Seller and Auction Company; however, Farm Program Information, base acres, total crop acres, conservation plan, etc. are subject to change when the farm is reconstituted by the Montgomery 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 about Tuesday, November 23rd, 2021. 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 Property shall be granted to the Buyer(s) at closing, subject to tenants rights and the 2021 crops being removed EXCEPT for the grain storage facility on Tract 7 which possession shall delivered on or before September 1, 2022.

Farm Lease: All leases for the 2021 crop year have been terminated and the Farm will be open for the 2022 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.

Financing: Purchasers obligation to purchase the Property is unconditional and is not contingent upon Purchaser obtaining financing. Any and all financial arrangements are to have been made prior to bidding at the auction. By the mere act of bidding, the bidder makes a representation and warrants that the bidder has the present ability to pay the bid price and fulfill the terms and conditions provided in the Contract.

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: Surveys will be completed by the Seller for Tract 7. Tract acreages are subject to change prior to 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, Auction Company, or Seller. All bids will be on a per acre basis. The Auction 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 Auction 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.