County Highway G76 , New Virginia, IA 50210(Warren County)

Tract 1: 82.71 acres m/l (9/2/25) with an estimated 56.51 FSA cropland acres consisting of 40.49 acres of CRP and 7.02 acres of hay.

Tract 2: 28.08 acres m/l (9/2/25) with an estimated 18.06 FSA cropland acres currently in CRP.

Tract 3: Farmhouse including 1,281 finished sf, 3 beds/1 bath, on 10 acres m/l (surveyed 9/2/25) with machine shed. The address for the home is 23852 25th Avenue, New Virginia, IA 50210.

Tracts 1 and 2 will be offered 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 or both tracts for their high bid. "Buyer's Choice" auctioning will continue until both tracts have been purchased and removed from the auction. Tract 3 will be offered via the "Traditional Auction" method, after the conclusion of bidding on Tract 1 and 2. Bids on Tract 3 will be on a "Whole Dollar Basis". Tracts will not be offered in their entirety or in combination after the auction

Reserved Items:The upright freezer inside of the farmhouse on Tract 3 will be retained by the Seller.

All appliances within the dwelling on Tract 3 will stay with the home, with the exception of the upright freezer.

Auction Details & Terms

Walters Family Revocable Trust Farmland Auction

120.79 Acres M/L (surveyed 9/2/25)

Offered in Three Tracts

Friday, October 3, 2025 at 10:00 AM

Auction Location:

Immaculate Conception Hall

101 James Street

St Marys, IA 50241

Tract 1: 82.71 acres m/l (surveyed 9/2/25)

Tract 2: 28.08 acres m/l (surveyed 9/2/25)

Tract 3: 10 acres m/l, farmhouse, machine shed (surveyed 9/2/25)

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 tracts will be sold via Public Auction on Friday, October 3, 2025, at 10:00 AM at the Immaculate Conception Hall in St Marys, Iowa. Tracts 1 and 2 will be offered 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 or both tracts for their high bid. "Buyer's Choice" auctioning will continue until both tracts have been purchased and removed from the auction. Tract 3 will be offered via the "Traditional Auction" method, after the conclusion of bidding on Tract 1 and 2. Bids on Tract 3 will be on a "Whole Dollar Basis". Tracts will not be offered in their entirety or in combination after the auction.

Co-Brokers: Participating brokers must register the client 24 hours before the Auction date by filling out our Broker Registration Form.

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 for Tract 1 and 2. A 5% earnest money payment is required on the day of the auction for Tract 3. The earnest money payment may be paid in the form of cash or good check. All funds will be held in the Peoples Company Trust Account.

Closing: Closing will occur on or before Wednesday, December 18th, 2025. 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 tracts will be given At Closing.

Farm Lease: The farm is not encumbered by any lease arrangements and full possession will be given to all tracts At Closing.

Hunting Lease: There is no hunting lease in place and hunting rights are available for the upcoming season. The Winning Bidder(s) will have full hunting rights at closing. Early possession for hunting will not be permitted.

Mineral Rights: A mineral title opinion will not be obtained or provided, and there will be no guarantee as to the ownership of the mineral interests. Seller will convey 100% of whatever mineral rights are owned by the Seller without warranty.

Open House: To showcase the quality of the farmhouse on Tract 3, there will be two open houses on September 15, 2025 and September 29, 2025, both between 4:00 PM and 6:00 PM for potential Buyer's to view the dwelling and outbuilding. The dwelling and outbuilding can be shown by appointment as well.

Tract 3 Rural Water Pit: The home and hydrant on the southwest corner of the home are currently served by well water, coming from a good well on Tract 2. Said well will be cut off from the dwelling prior to closing. The Seller has arranged and paid for a rural water pit to be installed on Tract 3 to service the home. The Buyer will be responsible for connecting the house to the water pit.

Septic System: Per Iowa Code 445B, the septic system on Tract 3 is exempt from the Septic System Inspection Requirement and the septic system servicing the home is in "As-is - Where is" condition and no inspections, updates, or improvements will be made by the sellers.

Wells: There is a known well on Tract 2, located near the windmill that services the dwelling. The water line from the well to the dwelling will be cut off and capped at the expense of the Seller. A rural water pit has been paid for by the Seller and will be installed at their expense on Tract 3. The well on Tract 2 will be conveyed to the Buyer in "As-is - Where is" condition and no inspections, tests, updates, or improvements will be made by the Seller.

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: *Survey's completed 9/2/25* All prospective Buyer's should note the discrepancy between the acreage provided by the Warren County Assessor, Farm Service Agency, and mapping software. Surveys will be provided for Tracts 1, 2, and 3. The farmland acres are subject to slight change after the surveys have been completed but before the auction. After the surveys have been completed, tract acres will be updated on the Peoples Company website. Additionally, the final tract acres will be announced on the day of the sale. 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 "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.