180th , Allerton, IA 50008(Wayne County)

Peoples Company is pleased to represent Doris M. Kenney and The Estate of Dean D. Kenney with the auction of their family farm located south and east of Corydon, Iowa. Doris great grandparents, Phillip & Elizabeth Schaefer began to assemble this farmland dating back 150 years ago. Then her grandparents, William A. & Maggie Alexander, purchased the original family farm and began to acquire more farmland in the area. Doris parents, Carl & Elsie Alexander, then purchased the family farm and began to grow the farming operation. While in high school, Dean met Doris and they were married in 1949. The two newlyweds then moved into Doris grandparents house on this same family farm and began assembling more land adjacent to the original farm, eventually purchasing the original family farm from Doris late parents. Doris M. Kenny is proud to say that she was born right here on this farm, raised on this same farm, and has lived her entire life of 93 years on her family farm. She was blessed to spend over 74 of those years on this farm with her beloved husband, Dean D. Kenney, tending to the daily chores around the farm and putting up hay with him in the summer of 2023 before he passed away in March of 2024.

Doris and her late husband, Dean, worked side by side every day on this farm up until his death continuing a family farming operation that has spanned around 150 years right here in Wayne County, Iowa.

The Kenney farmland portfolio is comprised of 442.57 surveyed acres and will be offered in nine tracts ranging from 16 acres m/l to 84 acres m/l presenting a unique opportunity for you to assemble high-quality farmland, pasture land, recreational land and an outstanding home and buildings all located in a tightly held area of Wayne County, Iowa that has not been available to the public in many years.

The way this farm is subdivided offers something for everyone, including the smaller, medium, and large tract buyers. Create the best combination of tracts that offers the optimum purchase for your operation. This is a rare opportunity to assemble good quality tillable ground, pasture and hay ground, recreational ground, and building site locations that best fit your needs and at your price.

These tracts will be offered via a live Public Auction that will take place at 10:00 AM on Friday, October 11, 2024, at the Walden Park Clubhouse (Corydon Golf Course) located at 501 South East Street in Corydon, Iowa. The land will be sold as nine individual tracts with the following auction method. Tract 1 will be sold individually and offered first on a whole dollar amount basis. Then, Tracts 2, 3, 4, 5, 6, 7, 8, and 9 will be offered using the "Buyers Choice" auction method on a price per acre basis where the high bidder can take, in any order, any or all tracts for their high bid. "Buyer's Choice" auctioning will continue until all tracts have been purchased and removed from the auction. These nine tracts will not be offered in their entirety at the conclusion of the auction. This auction can also be viewed through the Peoples Company mobile bidding app with online bidding available to registered bidders.

Auction Details

Sellers: Doris M. Kenney and The Estate of Dean D. Kenney

The Executor of the Estate of Dean D. Kenney:

Doris M. Kenney

Attorney for the Sellers:

Verle W. Norris, Attorney at Law

The Law Office of Verle W. Norris

Corydon, Iowa 50060

Auction Location:

Walden Park Clubhouse (Corydon Golf Course)

501 South East Street

Corydon, Iowa 50060

Auction Method: Tract 1 will be sold individually and offered first and on a whole dollar amount basis. Then, Tracts 2, 3, 4, 5, 6, 7, 8, and 9 will be offered using the "Buyers Choice" auction method on a price per acre basis where the high bidder can take, in any order, any or all tracts for their high bid. The "Buyer's Choice" method will continue until all tracts have been purchased and removed from the auction. These nine tracts will not be offered in their entirety at the conclusion of the auction. Online bidding will be available for this auction through the Peoples Company mobile bidding app.

Tract 1: 28.13 Surveyed Acres

Tract 2: 15.90 Surveyed Acres

Tract 3: 17.81 Surveyed Acres

Tract 4: 51.42 Surveyed Acres

Tract 5: 75.23 Surveyed Acres

Tract 6: 52.83 Surveyed Acres

Tract 7: 67.58 Surveyed Acres

Tract 8: 84.33 Surveyed Acres

Tract 9: 49.34 Surveyed Acres

Farm Program Information: Farm Program Information is provided by the Wayne County Farm Service Agencies. The figures stated in the marketing materials 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 farms are reconstituted by the Wayne County FSA and NRCS offices. Currently, there is no farm plan or conservation plan for this farm.

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 a good check or wire transfer. All funds will be held in the Verle W. Norris Trust Account.

Closing: Closing will occur on or around Wednesday, November 20, 2024. The balance of the purchase price will be payable at closing in the form of certified check or wire transfer. With respect to the timing of the Seller and successful Buyer(s) in fulfilling the obligations set forth in the Real Estate Sale and Purchase Agreement, time is of the essence.

Possession: Possession will be given at closing, subject to the current Tenants rights. All tracts have open leases for the 2025 farm season.

2024 Farm Leases: Each Tract is currently rented for the following: Tract 1: Pasture; Tract 2: Hay; Tract 3: Hay and Row Crop; Tract 4: Row Crop and Hay/Pasture; Tract 5: Hay and Pasture; Tract 6: Row Crop and Hay; Tract 7: Row Crop and Hay; Tract 8: Pasture; Tract 9: Row Crop

Survey Information: All of the Tracts will have been surveyed by the date of the auction to determine the property boundaries and the actual gross acres being sold. If any of the tracts sell to different Buyers, then the Sellers will pay for the surveyor to put minimal stakes in at the tract splits to identify new boundaries. Any additional staking will be at the expense of the new Buyer(s) of each tract.

Contract & Title: Immediately upon conclusion of the auction, the high bidder(s) will enter into a Real Estate Sales Contract and deposit with The Law Office of Verle W. Norris the required earnest money payment. The Seller will provide current abstracts at their expense. The sale of this home and farmland is not contingent upon the Buyer obtaining financing after the auction is over. All financial arrangements are to have been made prior to bidding at the auction. Transfer of Title on the Estate owned land will be by Court Officer Deed and subject to court approval.

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number in order to bid at the auction. Online and phone bidders must register with the Auctioneer at least 24 hours prior to the start of the auction.

Driveway Entrances: Each tract currently has its own separate driveway entrance off of the gravel roads. If the new owner(s) of any tract elect to install a new driveway entrance or widen any current driveway entrance then that owner will be responsible for installing them per the Wayne County Engineers Office plans and specifications. Any and all costs associated with the installation of new driveway entrances or widening of entrances, if needed, will be at the sole expense of the new Buyer(s) of each tract. The Sellers will not install any new driveway entrances or widen any of the existing driveway entrances.

Fences: Existing fences, if any, are in as-is condition and will not be updated. Tracts 2, 3, and 4 do not have fences on portions of the existing property lines. The remaining tracts have fences on the property lines. No new fences to divide any of the tracts will be installed by the Sellers. All current and any future fences and fence lines shall be governed by the Wayne County and State of Iowa fence line rules and regulations. Existing fence lines may not be located on the true boundary lines.

Tract 1 House & Septic System: The property and house located on Tract 1 will be sold on an as is, where is basis with no warranties or guarantees, expressed or implied, made by the auctioneer, seller, or Peoples Company. The existing septic system is original from when the home was built in 1973 and due to The State of Iowa Time of Transfer Law will need to be updated. Before time of closing, the new Buyer will sign a binding acknowledgment agreement with the Wayne County Sanitarian allowing for up to one year to update the existing septic system per the rules and regulations of their office. The Buyer of Tract 1 will assume the full expense and responsibility for the installation of a new septic system. No updates or repairs to the existing septic system will be made by the Sellers.

Rathbun Regional Water Association: There is a RRWA water main located at the intersection of Idaho Road and 180th Street and it extends west along the south side of Idaho Road to a neighboring land owner. There is also access to hook into a rural water main located at the northwest corner of Tract 9. If any new rural water meter pits are installed along Tracts 2, 3, and 4 there will be an extra reimbursement cost to RRWA. Contact RRWA or the listing agents for full details.

Rural Water Easement on Tract 2: There is a Rathbun Regional Water Association rural water meter pit located on the southeast corner of Tract 2. This meter pit services a water line that runs north along the west side of the fence into Tract 5 feeding to a Cobett Cattle Waterer. If Tract 2 and Tract 5 sell to different Buyers, then there will be an easement recorded allowing the new owner of Tract 5 access for any maintenance of the meter pit and water service line that may be needed in the future.

Easement on Tract 6: There is an ingress/egress easement located on the southeast portion of Tract 6 for the benefit of the neighboring landowner to the east. Access for this easement is made off of the dirt road portion of Idaho Road.

Electric Service on 180th Street: Tract 8 had the original family home located on it with electric service hooked up to it in the past. This service is not currently active nor hooked up. The Sellers have continued to pay the required amount per year to Chariton Valley Electric Cooperative (CVEC) as a maintenance fee so the utility poles and lines stay along 180th Street. The Sellers have paid the bill for this year that pays the service until November of 2025. After this date, if the new Buyers do not continue to pay this yearly fee, the electric company will remove the poles and electric lines heading north to the old home site located on Tract 8 along the east side of 180th Street. If Tracts 6,7 and 8 sell to different Buyers and they wish to build on those tracts, then those Buyers will need to contact CVEC to continue the agreement with CVEC.

Site Cleanup: If a site clean-up is required on any of the tracts, it will be the new Buyers responsibility and at Buyers expense.

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 on all tracts. The Sellers will convey 100% of whatever mineral rights are owned by the Sellers without warranty.

Taxes: Taxes for each tract are estimated. Final tax amounts will be determined by the Wayne County assessor after time of closing.

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 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.