TERMS:

 TERMS AND CONDITIONS OF AUCTION

Sellers: Louise Roush Estate.

Representing Attorney: Jim Hicks – Johnston, Hicks & Griffith

Sale Date: Auction will be held Wednesday October 30, 2024 at 11:00 AM at the American Legion, 21 Washington Avenue West, Albia, IA 52531.

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.

Buyer's Premium: A 3% Buyer's Premium will be charged to the buyer. This means a Buyer's premium in the amount of 3% of the bid shall be charged to the Buyer and added to the bid amount to arrive at the total contract purchase price.

Tracts: 140 +/- Acres. Farm will be sold in one single tract.

Auction Method:  The property will be sold on a price per acre basis based on acres obtained from the Monroe County Treasurer. The auction can also be viewed through a Virtual Online Auction option and online bidding will be available.

Online Bidding Now Available: To participate in the bidding process, please register at http://uciowa.bidwrangler.com/. Interested bidders can access the live auction through our brokerage’s auction platform via the Internet. By using this online auction platform, bidders recognize that internet performance can be unpredictable and may occasionally affect access, result in downtime, or lead to slow connections to the platform. Bidders agree that Hawkeye Farm Mgmt & Real Estate, along with its affiliates, members, officers, shareholders, agents, or contractors, cannot be held responsible for any connectivity issues or disruptions that bidders may encounter while using the online auction platform.

Bidder Registration: Prospective bidders must register with Hawkeye Farm Management & Real Estate and receive a bidder number to bid at the auction. All online bidders must be approved prior to the auction starting. Be sure to allow ample time for registration approval. Hawkeye Farm Management & Real Estate and its representatives act as agents for the Seller. Winning bidder(s) acknowledge that they are representing themselves in completing the auction sale transaction.

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, Ryan Ammons at 641-777-2955, or Nate Ammons at 641-777-2861 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 Webster County Treasurer.

Possession:  Farm is leased for the 2024 growing season and crop land possession will be given on March 1, 2025. No cash rent will be credited to the buyer at closing.

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 December 3, 2024. 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. Buyer understands this offer is not subject to financing, and earnest money is at risk if Buyer cannot perform or meet the closing date. The seller will provide abstract continued through date of sale to Buyer’s attorney for title opinion and deliver title by Court Officer Deed. Buyer will be responsible for their own mortgage policies of title insurance (if applicable). The 2023-2024 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 Hjelm with the Acre Company acts as the Auctioneer.

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

DOCUMENTS: