For Sale by Bid Terms

Minerals: All mineral interests owned by the

Seller, if any, will be conveyed to the Buyer.

Taxes: Real estate taxes will be prorated to closing.

Conditions: This sale is subject to all easements,

covenants, restrictions of record, and leases.

Each Bidder is responsible for conducting, at their

own risk, their own inspections, inquiries, and due

diligence concerning the property. All property is

sold on an “AS IS-WHERE IS” basis with no warranties

or guarantees, either expressed or implied,

by the Seller or Farmers National Company.

Possession: Possession will be granted at closing

on September 1, 2021 or such other date

agreed to by the parties. Subject to the current

lease in place. The farm is on a custom lease that

will be properly terminated. Sellers to keep the

2021 income. Buyer to receive full tillage rights

post harvest of the 2021 crops.

Earnest Payment: A 10% earnest money payment

is required on the day of the auction. The

payment may be in the form of cash, cashier’s

check, personal check, or company check. All

funds will be deposited and held by Wilcox Law

Firm - Jefferson, Iowa in their trust account.

Contract and Title: Immediately upon conclusion

of the auction, the high bidder(s) will enter into

a real estate contract and deposit with Farmers

National Company the required earnest payment.

The Seller will provide a current abstract of title

at their expense. The cost of any escrow closing

services will be equally paid by both. Sale is not

contingent upon Buyer financing.

Closing: The sale closing is on September 1,

2021 or such other date agreed to by the parties.

The balance of the purchase price will be payable

at closing in cash, guaranteed funds, or by wire

transfer at the discretion of Wilcox Law Firm - Jefferson,

Iowa.

Survey: At the Seller’s option, the Seller shall

provide a property survey sufficient to provide

good title where there is not an existing legal or

where new boundaries are created. The Seller will

pay the survey cost. Final contract prices will not

be adjusted to reflect any difference between the

advertised and actual surveyed acres.

For Sale by Bids: Written bids will be accepted

at the office of Adam Pick, 115 E Lincoln Way

#190, Jefferson, Iowa 50129 until noon July 13,

2021. Bids should be for the total dollar amount

and not per acre. Please submit your one-time

highest and best offer as there will be no oral

bidding. Seller reserves the right to reject any and

all bids and to modify bidding requirements at their

discretion.

Approval of Bids: Final sale is subject to the

Seller’s approval or rejection.

Agency: Farmers National Company and its representatives

are acting as Agents of the Seller.

Announcements: Information provided herein

was obtained from sources deemed reliable, but

neither Farmers National Company nor the Seller

makes any guarantees or warranties as to its accuracy.

All potential bidders are urged to inspect

the property, its condition, and to rely on their own

conclusions. All sketches, dimensions, and acreage

figures are approximate or “more or less”.

Any announcements made auction day by Farmers

National Company will take precedence over

any previous printed materials or oral statements.

Farmers National Company and Seller reserve

the right to preclude any person from bidding if

there is any question as to the person’s credentials

or fitness to bid.

Sellers: Gail Smith, Kelly VanCompernolle and

Kerry Ahlfinger