Tract 1: 112.27 acres m/l with 106.85 tillable acres m/l carrying a CSR2 of 93.4. The primary soil type is Tama silty clay loam with every soil type holding a CSR2 of 86 or above and 4.5 acres m/l boasting a perfect 100 CSR2 rating.

Tract 2: 78.60 acres m/l with 69.81 tillable acres m/l carrying a CSR2 of 92.4. The primary soil type is Tama silty clay loam with every soil type holding a CSR2 of 86 or above. The south 38.60 acres m/l of this farm is located within the City of Grundy Center and would have an opportunity for future development.

The farmland will be offered via public auction as two 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 is available as well. The auction will take place at 10:00 AM at the Grundy Center Community Building - 705 F Avenue, Grundy Center, IA 50638. 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. The tracts will not be offered in their entirety or any combination at the conclusion of the auction. Both tracts are located along Highway 14/Highway 175/240th Street in Section 11 of Polermo Township, Grundy County, Iowa. Don't miss this opportunity to own an above average farm in an area that is known to have the best soil types in the world.

AUCTION DETAILS

Grundy County Land Auction

190.87 Acres M/L

Offered in Two Tracts

Thursday, March 3rd, 2022

10:00 AM

Auction Location:

Grundy Center Community Building

705 F Avenue

Grundy Center, IA 50638

Seller: Howard Frankling McCracken, Jr. Trust

Trust Officer: Whitney Heinrich, J.D. - GNB Trust Department

Attorney: Seth Schroeder, J.D. - Heronimus, Schmidt, Schroeder & Geer

Online Bidding: Visit our website or contact Listing Agent.

Auction Method: Both tracts will be sold on a per-acre basis and will be offered through the "Buyer's Choice Auction Method", whereas the winning bidder may elect to take, in any order, one or both tracts for their high bid. The "Buyer's Choice Auction Method" auctioning will continue until both tracts have been purchased. Tracts will not be offered in their entirety or combined at the conclusion of the auction.

Tract 1: 112.27 Acres M/L

Tract 2: 78.60 Acres M/L

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number in order 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.

Farm Program Information: Farm Program Information is provided by the Grundy 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 Grundy 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 Heronimus, Schmidt, Schroeder & Geer Trust Account.

Closing: Closing will occur on or before Thursday, April 7th, 2022. The balance of the purchase price will be payable at closing in the form of cash, guaranteed check, or wire transfer.

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

Farm Lease: The farm is currently leased for the 2022 cropping season. All 2022 lease payments will be paid to the Buyer.

Contract & Title: Immediately upon conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Heronimus, Schmidt, Schroeder & Geer the required earnest money payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon Buyer financing.

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, 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 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 own investigation of the property prior to 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 Abstract.