AUCTION DETAILS How to Bid: Open up the Fraise Auction & Real Estate auction you are interested in at Fraiseauction.com. Click on any of the BID NOW icons within that auction. This will take you to the Online Bidding Platform. Find the auction you wish to participate in and open it up. To participate in that auction click REGISTER TO BID. From there you will need to create a bidder account. Once that is created you are able to bid on any of our Online Auctions Auction Method: The Peterson/Koenig Family Farm will be sold in one individual tract on a price per acre basis, based on the number of advertised acres. Auction is being conducted Online Only with a soft close, which means a bid placed within 3 minutes of the scheduled close of the auction will extend bidding by 3 minutes until all bidding is completed. If you plan to bid, please register 24 hours prior to close of the auction. Under no circumstances shall Bidder have any kind of claim against Fraise Auction & Real Estate if the internet service fails to work correctly before or during the auction. Auctioneers, at their discretion, may place a reserve bid on behalf of the seller. All final bids are subject to the seller's confirmation. Survey: Seller shall not be obligated to perform a survey. Farm Lease: The farm is leased for the remainder of the 2023 crop year. Tenant has been served notice and Buyer will have full possession for the 2024 farming season. Earnest Money Payment: A ten (10%) percent nonrefundable earnest money payment is required on the day of the auction. All funds will be held in Fraise Auction & Real Estate Trust Account. Closing & Possession: Closing will occur on or about October 2, 2023 at which time possession will be given, subject to tenants' completion of the fall harvest. The balance of the purchase price will be payable at closing in the form guaranteed check or wire transfer. Contract & Title: Immediately up conclusion of the auction, the high bidder will enter into a real estate sales contract with the Seller. The Seller will provide a current abstract at their expense. Real estate taxes will be prorated to the date of possession. Sale is NOT contingent on Buyer's financing, an appraisal, site inspection or any other contingencies. Real estate sells subject to Seller's confirmation. Other: It shall be the Buyer's responsibility to report to the Henry County FSA office and show filed deed in order to receive the following, if applicable (A) Allotted base acres; (B) Any future government programs; (C) Prorate of CRP. The land is selling subject to all easements, covenants, leases and restrictions of record. All property is sold on an "As Is, Where Is" basis with no warranties, expressed or implied made by the Auctioneer, Fraise Auction & Real Estate or Seller. Fraise Auction & Real Estate and its representatives are agents of the Seller. Winning bidder acknowledges that they are representing themselves in completing this transaction. Any announcements made auction day by the Auctioneer will take precedence over all marketing material or oral statements. Bidding increments are at the sole discretion of the Auction Company and can be changed at any time during the course of the auction. Disclaimer: Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries and due diligence concerning the property. All lines drawn on maps and photos are approximate. Overall tract acres, tillable acres, etc. may vary from figures stated within the marketing material. No liability for its accuracy, errors or omissions is assumed by the Seller or Auction Company. KIMM PETERSON & CHERYL KOENIG - SELLERS Timothy Liechty of Bell Ort & Liechty Law Office 200 W Main Street, New London, Iowa - Attorney for Sellers Disclaimer and Absence of Warranties: All information contained in this and all related materials are subject to the terms and conditions outlined in the agreement to purchase. Announcements made by the auctioneer during the time of the sale will take precedence over any previously printed material or any other oral statements made, except the purchase agreement. The property is being sold on an 'As Is, Where Is' basis, and no warranty or representation, either express or implied, concerning the property is made by the seller or the auction company. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained is believed to be accurate but is subject to verification by all parties relying on it. All lines drawn on maps and photos are approximate. No liability for its accuracy, errors or omissions is assumed by the seller or the auction company. Conduct at the auction and increments of bidding are at the direction and discretion of the auctioneer. The auctioneer reserves the right to change the bidding increments at any time during the auction. The seller and auction company reserve the right to preclude any person from bidding if there is any question as to the person's credentials, legal competence, etc. All decisions of the auctioneer are final. Agency: Fraise Auction & Real Estate and their representatives are exclusive agents of the seller. Currency Type: USD Special Terms Fraise Auction & Real Estate is providing Internet bidding as a service to the Bidder. Bidder acknowledges and understands that this service may or may not function correctly the day of the auction. Under no circumstances shall Bidder have any kind of claim against Fraise Auction & Real Estate or anyone else if the Internet service fails to work correctly before or during the auction. Fraise Auction & Real Estate will not be responsible for any missed bids from any source. Internet bidders who desire to make certain their bid is acknowledged should use the proxy-bidding feature and leave their maximum bid 24 hours before the auction concludes. Fraise Auction & Real Estate reserves the right to withdraw or re-catalog items in this auction.

Location & General Information The Peterson/Koenig Family Farm is located in Sections 2 & 11, T71N?R5W, New London Township, Henry County, Iowa and is generally located 3 miles north of New London, IA or 6.5 miles southwest of Mt. Union, IA. Land represents Highly Productive Investment Quality Farmland with an average CSR2 of 85.6.