PROCEDURE: The property will be offered in 14 tracts, combination of tracts, or as a whole, consisting of a total of 1,028+/- acres. There will be open bidding on all tracts & combinations during the auction as determined by the Auctioneer. Bids on individual tracts & the total property may compete. The property will be sold in the manner resulting in the highest total sale price.

DOWN PAYMENT: 10% of the total contract purchase price will be due as a down payment on the day of auction, w/ the balance due in cash at closing. The down payment may be made in the form of cashier's check, personal check, or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, & ARE CAPABLE OF PAYING CASH AT CLOSING.

ACCEPTANCE OF BID PRICES: All successful bidders will be required to sign purchase agreements at the auction site immediately following the close of the auction. All final bid prices are subject to the Seller's acceptance or rejection.

DEED: Seller shall be obligated only to convey a merchantable title by a Warranty Deed.

EVIDENCE OF TITLE, TITLE INSURANCE: Seller shall provide a preliminary title insurance commitment for review prior to auction. Seller shall furnish at Seller's expense an updated title insurance commitment disclosing marketable title to the real estate in the name of the Seller as of a date after the Auction & prior to closing, subject to all standard requirements, conditions & exceptions & subject to the Permitted Exceptions. At closing, Seller shall pay for the cost of issuing a standard coverage owner's title insurance policy in accordance w/ the updated commitment. Any lender's title insurance policy shall be at Buyer's sole expense.

CLOSING: The balance of the purchase price is due at closing. The targeted closing deadline is approximately 60 days after the auction or as soon thereafter upon completion of surveys, if applicable, the final title commitment & Seller's closing documents. The closing agent's fee for administering closing shall be shared 50:50 between Buyer(s) & Seller. All lender costs shall be paid by the Buyer(s).

POSSESSION: Possession shall be granted at closing on all auction tracts except Tract 2. Tract 2 (grain bins), possession shall be granted no later than September 1, 2023.

REAL ESTATE TAXES: The 2022 Real Estate taxes due in 2023 shall be paid by the seller at the time of closing.

MINERALS: Seller shall convey 100% of the mineral rights they own.

ACREAGE & TRACTS: All tract acreages, dimensions & proposed boundaries are approximate & have been estimated based on county tax parcel data, county GIS and/or aerial mapping. Any corrections, additions, or deletions will be made known prior to the auction.

SURVEY: The Seller shall provide a new survey where there is no existing legal description or where new boundaries are created by the tract divisions in this auction or where Seller otherwise determines a survey is appropriate. Any need for a new survey shall be determined solely by the Seller. Seller & successful bidder shall each pay half (50:50) of the cost of the survey. The type of survey performed shall be at the Seller's option & sufficient for providing title insurance. If Seller determines a survey is needed, combined purchases will receive a perimeter survey only. Final sales price shall be adjusted to reflect any difference between advertised & surveyed acres but if & only if the difference exceeds one acre.

PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries & due diligence concerning the property. Inspection dates have been scheduled & will be staffed w/ auction personnel. Further, Seller disclaims any & all responsibility for Bidder's safety during any physical inspection of the property. No party shall be deemed an invitee of the property by virtue of the offering of the property for sale. It shall be a requirement that Buyer shall indemnify, defend & hold Owner harmless from any & all loss, cost, expense, damage, liability, mechanics' or materialmen's lien or claim of lien, action or cause of action, including without limitation reasonable attorneys' fees, arising from or relating to any & all inspections, studies, investigations or entries upon the Property by Buyer or its agents or representatives. Such indemnity shall expressly survive closing or any termination of a purchase contract if no Closing occurs & the purchase contract is terminated.

COVER CROP: Buyer shall reimburse seller at closing, for the current cover crop. Check w/ auction company for reimbursement cost per auction tract.

TRACT 2: Tenants shall have through August 31, 2023 to remove grain from bins. Possession shall be granted no later to September 1, 2023.

EASEMENTS: Subject to any & all existing easements.

POTENTIAL EASEMENT - TRACTS 9 & 10: In the event Auction Tracts 9 & 10 sell separately a 50ft easement shall be established for ingress & egress along the west boundary of Auction Tract 9 as illustrated in the brochure auction tract map.

AGENCY: Schrader Real Estate & Auction Company, Inc. & its representatives are exclusive agents of the Seller.

DISCLAIMER & ABSENCE OF WARRANTIES: All information contained in this brochure & all related materials are subject to the terms & conditions outlined in the Purchase Agreement. The property is being sold on an "AS IS, WHERE IS" basis, & no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches & dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, & due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction & increments of bidding are at the direction & discretion of the Auctioneer. The Seller & Selling Agents reserve the right to preclude any person from bidding if there is any question as to the person's credentials, fitness, etc. All decisions of the Auctioneer are final.

ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.

Bidder Pre-Registration Form

Auction Brochure

Auction Info Book

Online Bidder Registration Form

Preliminary Title Insurance Schedules with Exception Copies

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