TERMS AND CONDITIONS OF AUCTION

Sellers: Joseph & Jamie Jackson

Sale Date: Auction will be held Thursday July 28, 2022 at 11:00 AM at the City Hall 118 Main Street East, State Center, IA 50247.

Approval of Bids:  Seller is serious about selling this property at auction but does reserve the right to accept or reject the final bid. Each bid shall constitute an offer to purchase, and the final bid, if accepted by the Seller, shall constitute a binding contract between the Buyer and Seller. Conduction of the auction and increments of bidding are at the direction and discretion of United Country Hawkeye Farm Mgmt & Real Estate and/or the auctioneers.

Tracts:  Farm will be sold in three tracts. Tract 1 – 118 +/- Acres. Tract 2 – 74.31 +/- Acres. Tract 3 – 75.48 +/- Acres.

Auction Method:  The property will be sold on a price per acre basis based on acreages obtained from the Marshall County Treasurer. All tracts will be offered through the marketing method of " Buyer's Choice " whereas the high bidder can purchase ( in any order ) any or all tracts for their high bid. The tracts will not be offered in their entirety at the conslusion of the auction.

FSA:  All FSA information, maps, field boundaries and acres are presumed accurate based on the best available information and knowledge of the seller and United Country Hawkeye Farm Management & Real Estate.

As is-where is:  Property is sold “AS IS-WHERE IS” and the Buyer should take time to examine this property thoroughly and rely on their own judgement. The only guarantee from the Seller is a valid, good, and marketable title to the property. Neither the Seller, United County Hawkeye Farm Mgmt & Real Estate, or the Auctioneers are giving any warranties other than a clear title. Buyer must conduct their own inspections at their own expense prior to bidding at the auction. Auctioneers, United Country Hawkeye Farm Mgmt & Real Estate, or its agents are not responsible for any representation made by Seller or their employees and are not responsible for accidents on the sale property should any occur. Contact United Country Hawkeye Farm Mgmt & Real Estate at 641-932-7796 or Luke Nissen at 712-304-4827 for private showing prior to day of sale.

Taxes:  Taxes will be pro-rated to the date of closing and based on tax acres as sold per Marshall County Treasurer.

Possession:  Farm is leased for the 2022 growing season and possession will be given on March 1, 2023. CASH RENT: Buyer will receive a credit at closing for 1/2 the 2022 rent payment on a per acre basis at $290 per tillable acre.

Mineral Rights:  All mineral rights, if any, owned by the Seller will be conveyed to the Buyer.

Subject to:  The sale of this property is subject to any and all easements of record, covenants, restrictions of record and leases.

Contract and Earnest Payment:  Buyer and Seller will enter a standard format Contract for the Sale of Real Estate on the day of auction. Contract will call for 10% earnest money on the day of sale to be held in Hawkeye Farm Mgmt Trust in the form of a personal, corporate or cashier’s check with the balance of the purchase price due, in certified funds, at closing on or before September 14, 2022. Contracts will contain no financing or inspection contingencies and Buyer must have their own financing and make their own inspections prior to bidding at this auction. Seller will provide abstract continued through date of sale to Buyer’s attorney for title opinion and deliver title by General Warranty Deed. Buyer will be responsible for their own mortgage policies of title insurance (if applicable). The 2021-2022 Property taxes will be prorated. Exact legal to come from deed and abstract.  Buyer is responsible for their own investigation of property and/or zoning for their intended use.

Day of Auction:  Announcements made by the United Country farm Mgmt & Real Estate and Auctioneers ahead of or during the time of sale take precedence over any previously printed materials or any oral statements made. The sale will be controlled by the auctioneer. United Country Hawkeye Farm Mgmt & Real Estate and Auctioneers represent the Seller only. If a tie or dispute occurs between two or more bidders, the Auctioneer may re-open the bidding at the Auctioneer’s sole discretion and shall serve as the sole arbiter as to who is or is not allowed to bid. Auctioneer reserves the right to reject any bid that is only a fraction advance over the preceding bid, to regulate bidding and to accept or reject any or all bids. Auctioneer reserves the right to enter bids on behalf of absentee/phone bidders as well as the Seller. Any and all decisions of Auctioneer regarding the conduct of the auction shall be final without liability to any party.

Agency:  Auction Company United Country Hawkeye Farm Mgmt & Real Estate, Auctioneer and their representatives are exclusive agents of the Seller. Jon Hjlem with the Acre Company acts as the Auctioneer.

THE BIDDING WILL ONLY LAST A FEW MINUTES, AND THE AUCITONEER HAS FINAL SAY.