Tract 1: 102.60 acres m/l with 98.64 FSA cropland acres carrying a CSR2 of 83.2.

Tract 2: 48 acres m/l with 25.35 FSA cropland acres carrying a CSR2 of 66.7.

As indicated in the future land use map, Tract 1 is expected to be Low-Density Residential, while Tract 2 is slated for Estate Residential. Southern Iowa Rural Water Association currently has water lines on each side of the property and electricity is serviced by Farmers Electric Coop.

Located along the north side of 210th Street, these tracts contain 123.99 FSA Cropland acres carrying a combined CSR2 of 79.8, well above the Madison County average of 60.8. The primary soil types include the highly productive Sharpsburg and Macksburg soils. The farm lease has been terminated and the farm will be available for the 2025 cropping season.

The two tracts will be offered individually on a price-per-acre basis using the Buyer's Choice auction method, where 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. Tracts will not be offered in their entirety at the conclusion of the auction. The Public Auction will be held on Friday, October 4th, 2024, at 10:00 AM CST at Union State Bank in Winterset, Iowa. The sale can also be viewed through a Virtual Online Auction option and online bidding will be available.

*All information, regardless of source, is deemed reliable, but not guaranteed and should be independently verified. Buyer should perform his/her own investigation of the property prior to bidding at the auction.

This auction is being conducted in partnership with Hopkins & Huebner, P.C.. Please contact the representing attorney Jim Van Werden for more information on this auction: Jim Van Werden: 515.697.4284.

Auction Details

Madison County, Iowa Land Auction

October 4th, 2024

10:00 AM CST

Auction Location:

Union State Bank

Community Room

611 IA-92,

Winterset, IA 50273

Auction Method: The two tracts will be offered individually on a price-per-acre basis using the Buyer's Choice auction method, where 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. Tracts will not be offered in their entirety at the conclusion of the auction. The sale 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/or Hopkins & Huebner, P.C. (the "Auction Company") to receive a bidder number to bid at the auction. Auction Company and its representatives are agents of the Seller. Winning bidder(s) acknowledge they are representing themselves in completing the auction sales transaction.

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.

Farm Program Information: Farm Program Information is provided by the Madison 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 Madison 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 a certified check or wire transfer. All funds will be held by Hopkins & Huebner, P.C.

Closing: Closing will occur on or before Thursday, November 14th, 2024. 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 farm will be given at the earlier occurrence of

Farm Lease: The farm lease has been terminated and the farm will be 'open' for the 2025 crop season.

Contract & Title: Immediately upon the conclusion of the auction, the winning bidder will enter into a real estate sales contract and deposit with Hopkins & Huebner, P.C. the required earnest money payment. The Seller will provide a current abstract at their expense. The sale is not contingent upon Buyer financing.

Financing: The buyer's obligation to purchase the Real Estate is unconditional and is not contingent upon the Buyer obtaining financing. All financial arrangements are to have been made before bidding at the auction. By the mere act of bidding, the bidder makes the representation and warrants that the bidder has the present ability to pay the bid price and fulfill the Contract.

Property Taxes: All real estate taxes will be prorated between the Seller and Buyer to the date of closing.

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.

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. Auction 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 Auction Company. Overall tract acres, tillable acres, etc., may vary from the 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 are to be taken from the Abstract.