180th Street , Alexander, IA 50420(Wright County)

This high-quality north-central Iowa farm consists of 152.11 FSA tillable acres with a CSR2 soil rating of 83.7, well above the Wright County average CSR2 soil rating of 77. Primary soil types include highly productive Webster clay loam, Nicollet clay loam, and Canisteo clay loam with the cropland acres certified as Non-Highly Erodible Land (NHEL). There is no Wetland Determination on file for this tract. This farm has been operated by a highly reputable local farm tenant for over 20 years, who has been a steward to both the farm and the Schmidt Family. The farming rights are open for the 2025 farm year.

County tile lines ranging in size from 6" to 12" are located on the property. The property is situated in Joint Drainage District #228/85, with part of the Drainage District in Franklin County, Iowa. The 10-12" tile line on the property connects to a 40" tile main that runs northwest of the farm. Water flows west/northwest off the farm into the 40" main and then flows south, out letting into a creek in Section 27 of Iowa Township. See the attached "Tile Map" for approximate tile locations. Per discussions with the County Drainage Clerk, there are no ongoing repairs or large projects currently planned and that are currently being assessed against the property.

Located southwest of the 180th Street / Wright Avenue intersection in Section 13 of Iowa Township, this farm has great access to area grain markets including the ethanol plant in Goldfield, Iowa and a variety of grain elevators. The farm would make a great add-on to an existing farming operation or a good farmland opportunity for an investor as there are several high caliber farm operators/tenants in the area. The single tract will be offered on a price-per-acre basis via Public Auction and will take place on November 1st, 2024 at 10:00 AM in the Latimer Community Center in Latimer, Iowa. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available.

Wright County Land Auction

155 Acres M/L

Offered as One Tract

Friday, November 1st, 2024 at 10:00 AM

Seller: Linda K. Sheriff & Michael R. Schmidt

Auction Location:

Latimer Community Center

104 N Akir Street

Latimer, IA 50452

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number to bid at the auction.

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 farmland will be sold as one individual tract on a price-per-acre basis to the High Bidder.

Farm Program Information: Farm Program Information is provided by the Wright and Franklin County Farm Service Agencies. 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 Wright and Franklin 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 unless stated otherwise.

Closing: Closing will occur on or before Wednesday, December 18th, 2024. The balance of the purchase price will be payable at closing in the form of a guaranteed check or wire transfer.

Possession: Possession of the farm will be given At Closing, Subject to Tenant's Rights.

Farm Lease: The farm lease is open for the 2025 crop season. The seller will retain all income from the 2024 lease.

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.

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. The 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.