ONLINE AUCTION TERMS

Minerals: All mineral interests owned by the Seller, if any, will be conveyed to the Buyer.

Taxes: Real estate taxes for 2021 payable in 2022 will be paid by the Seller. All future taxes will be the responsibility of the Buyer(s).

Conditions: This sale is subject to all easements, covenants, and restrictions of record. 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 December 2, 2021 or such other date agreed to by the parties. Subject to PLOTS contract on Tract 2.

Earnest Payment: A 10% earnest money payment is required on the day of the bidding. The payment may be in the form of cashier’s check, personal check, company check, or wired funds. All funds will be deposited and held by The Title Company.

Contract and Title: Immediately upon conclusion of the bidding, the high bidder(s) will enter into a real estate contract and deposit with The Title 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 paid equally by the Seller(s) and Buyer(s).

Closing: The sale closing is on December 2, 2021 or such other date agreed to by the parties. The balance of the purchase price will be payable at closing in guaranteed funds or by wire transfer at the discretion of The Title Company.

Sale Method: The real estate will be offered in two individual tracts. All bids are open for advancement starting Tuesday, October 26, 2021, at 9:00 AM until Wednesday, October 27, 2021, at 1:00 PM, subject to the automatic bid extend feature outlined in these terms and conditions. Auctions are timed events and subject to extended bidding due to bidding activity. Any bid placed within five minutes of the auction ending will automatically extend the auction for five minutes from the time the bid is placed. The auto-extend feature remains active until no further bids are placed within the five minute time frame. All decisions of Farmers National Company are final.

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.

Note: Title will be conveyed by Warranty Deed and Personal Representative’s Deed.

This online auction begins on
Tuesday, October 26, 2021 at 9:00 AM and Closes Wednesday, October 27, 2021, at 1:00 PM.

Bidders can also bid in person at the Farmers National Company office located at 4141 31st Avenue S., Suite 101, Fargo, ND 58104. Farmers National Company personnel will walk you through the online bidding process through the main office computer.

All bids on the tracts will be visible on-line, but the identity of bidders is confidential. See auction terms and conditions for minimum bid requirements and details.

Server and Software Technical Issues: In the event there are technical difficulties related to the server, software, or any other online auction-related technologies, Farmers National Company reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor Farmers National Company shall be held responsible for a missed bid or the failure of the software to function properly for any reason. E-mail notification will be sent to registered bidders with updated information as deemed necessary by Farmers National Company.