AUCTION TERMS

Minerals: All mineral interests owned by the Seller, if any,

will be conveyed to the Buyer(s).

Taxes: Real estate taxes for 2020 payable in 2021 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, 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 December 16, 2020, or such other date agreed to by the parties. Subject to current lease and easement records.

Easements: Both tracts have 20’ access easements. The farms are being sold subject to all easements. Tract 1 has access from the east and north. Tract 2 has access from the south.

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 IL Real Estate Title Center, LLC 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 IL Real Estate Title Center, LLC the required earnest payment. The Seller will provide an owner’s policy of title insurance in the amount of the contract price The cost of title insurance will be paid by the Seller.. The cost of any escrow closing services will be paid by the Seller.

Sale is not contingent upon Buyer(s) financing.

Closing: The sale closing will be December 16, 2020, 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 IL Real Estate Title Center, LLC.

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. Both will pay one-half of the survey cost. Final contract prices will not be adjusted to reflect any difference between the advertised and actual surveyed acres.

Buyers Premium: There will be a 3.5% Buyers Premium added to the hammer price.

Auction Sales: The real estate will be offered in two individual tracts. All bids are open for advancement until the Auctioneer announces that the real estate is sold or that the bidding is closed. The real estate will sell in the manner resulting in the highest total price. Bidding increments are solely at the discretion of the Auctioneer. No absentee or telephone bids will be accepted without prior approval of Farmers National Company and Seller. All decisions of the Auctioneer 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 the Auction 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 the Auction Company will take precedence over any previous printed materials or oral statements. The Auction 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.

Seller(s): Roberta Schuetz Trust UA 7-18-06

Auctioneer: Tucker Wood, 441.001382 

Online Simultaneous Bidding Procedure:

The online portion of this auction begins on

Thursday, October 15, 2020, 2020, at 10:00 AM. Bidding closes on Wednesday, November 11, 2020, at the close of the live auction.

To register and bid on this auction go to:

www.fncbid.com

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.

Important Statement: Farmers National Company and its agents take the responsibility to connect buyers and sellers very seriously. We also understand the prime importance of personal and public safety during the Covid-19 situation. Therefore, please be aware that allowable auction crowd size and procedures may change without notice based on directives by local, state and federal agencies. Please call the agent or check our website for any changes.

A-20417 & A20421