U.S. 69 , Indianola, IA 50125(Warren County)

Donald "Jake" Weeks Farmland Auction - Premium Warren County, Iowa Tracts. Mark your calendars for November 9th, 2023 at 10:00 AM! Peoples Company is pleased to represent the Estate of Donald "Jake" Weeks with the sale of 453.73 acres m/l, to be offered in seven highly desirable tracts, just south of Indianola, Iowa on US Highway 69. These farms have a storied history and have been held in high regard for decades. The late Jake Weeks was extremely proud of this portfolio, having farmed and maintained the land meticulously for over 60 years. This offering consists of highly productive tillable tracts, excellent pasture farms, hobby farming tracts, and executive building site pieces. All of these tracts are located within the desirable Indianola Community School District and are only a short drive to many area amenities including; Lake Ahquabi State Park, Annette Nature Center, Izaak Walton League, and Hooper State Game Area. The auction will be held at the American Legion Post 165 in Indianola, Iowa, where Jake was a longtime member.

Tract 1: 64.2 acres m/l with 59.94 FSA cropland acres carrying a CSR2 value of 87.8.

Tract 2: 60.6 acres m/l to be surveyed and conveyed with 51.37 FSA cropland acres carrying a CSR2 value of 74.1.

Tract 3: 59.4 acres m/l to be surveyed and conveyed with 50.25 FSA cropland acres carrying a CSR2 value of 46.8.

Tract 4: 75.2 acres m/l to be surveyed and conveyed with 63.56 FSA cropland acres carrying a CSR2 value of 69.2.

Tract 5: 44.8 acres m/l to be surveyed and conveyed.

Tract 6: 109.53 acres m/l.

Tract 7: 40 acres m/l with 21.58 FSA cropland acres carrying a CSR2 value of 84.

The farmland will be offered as seven 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, one, multiple, or all tracts for their high bid. "Buyer's Choice" auctioning will continue until all seven tracts have been purchased and removed from the auction. The tracts will not be offered in their entirety or any combination after the auction.

Reserved Items

All equipment and personal property are reserved by the Estate. All equipment and personal property will be sold, after the sale of the real estate, but before closing. The sale location and date for the equipment and personal property is scheduled to be on site of Tract 2 on November 18th, 2023.

AUCTION DETAILS

Donald "Jake" Weeks Farmland Auction

453.73 Acres M/L

Offered in Seven Tracts

Thursday, November 9th, 2023

10:00 AM

Seller: Donald Weeks Estate

Attorney: Steve Hall, Hall Law Firm

Auction Location:

American Legion Post 165

105 W 1st Avenue

Indianola, IA 50125

Tract 1: 64.2 acres m/l

Tract 2: 60.6 acres m/l, to be surveyed

Tract 3: 59.4 acres m/l, to be surveyed

Tract 4: 75.2 acres m/l, to be surveyed

Tract 5: 44.8 acres m/l, to be surveyed

Tract 6: 109.53 acres m/l

Tract 7: 40 acres m/l

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 seven individual tracts using the "Buyers Choice" auction method on a price per acre basis, and the high bidder can take, in any order, one, multiple, 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 Thursday, November 9th, 2023 at 10:00 AM at the American Legion Post 165 in Indianola, Iowa. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available.

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.

Agency: 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 Warren 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 Warren 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 Tuesday, December 19th, 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.

Open House: There will be an open house to view the dwelling and building on Tract 2. The open house for Tract 2 will be on Wednesday, October 25th, 2023, from 4 PM to 6:30 PM. The dwelling on Tract 2 can be viewed by appointment as well. Please contact one of the Listing Agents to schedule a showing.

Farm Lease: The farm leases have been terminated and each tract will be available for the 2024 crop season.

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

Financing: The purchasers obligation to purchase the Property is unconditional and is not contingent upon the Purchaser obtaining financing. Any financial arrangements are to have been made before 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 provided for Tracts 2, 3, 4 and 5. In addition, the southwest corner of Tract 7 will be marked, if Tract 6 and 7 are sold to separate bidders. The farmland acres are subject to slight 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. There is a known pipeline easement on Tracts 1, 2, 6, and 7. 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 "Price Per Acre" amount. 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.