Algona, IA 50511 - Kossuth County

Kossuth County, Iowa Land Auction

241.8 Acres To Be Surveyed

Tuesday, July 19th, 2022 at 10:00 AM

Seller:

Grimm Family/DMG Corp.

Auction Location:

Columbia Event Center

1501 E Walnut St.

Algona, IA 50511

Auction Method:The three tractswill be offered via Public Auction and will take place at 10:00 AM in the Columbia Event Center, 1501 E Walnut St, Algona, IA. All farmland tracts will be sold on a per-acre basis and will be offered through the "Buyer's Choice Auction Method", whereas the winning bidder may elect to take, in any order, one or all of the tracts for their high bid. The "Buyer's Choice Auction Method" auctioning will continue until all farmland tracts have been purchasedand removed from the auction. Tracts willnot be offered in their entirety at the conclusion of the auction. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available.

Tract 1:79.58Acres

Tract 2:118.95 Acres

Tract 3:43.27 Acres

Bidder Registration:All prospective bidders must register with Peoples Company and receive a bidder number in order to bid at the auction.Peoples Company and its representatives are agents of the Seller. Winning bidder(s) acknowledge they are representing themselves in completing the auction sales transaction.

Farm Program Information: Farm Program Information is provided by the Kossuth County Farm Service Agency. The figures stated in the marketing material are the best estimates of the Seller and Peoples Company; however, Farm Program Information, base acres, total crop acres, conservation plan, etc. are subject to change when the farm is reconstituted by the Kossuth County FSA and NRCS offices.

Earnest Money Payment:A 10% earnest money payment is required on the day of the auction. The earnest money payment may be paid in the form of cash or check. All funds will be held in Peoples Companys Trust Account.

Closing:Closing will occur on or before September 1st, 2022 on all Tracts. The balance of the purchase price will be payable at closing in the form of cash, guaranteed check, or wire transfer.

Possession:Possession of the landwill be given At Closing, Subject to Tenant's Rights.

Farm Lease:The farm is open for the 2023 crop year.

Contract & Title:Immediately upon the conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Peoples Company the required earnest money payment. The Seller will provide a current abstract at their expense. The sale is not contingent upon Buyer financing.

Fences:Existing fences, if any, are in as-is condition and will not be updated or replaced by the Sellers. Not all tract and boundary lines are fenced and if needed, will be the responsibility of the Buyer at closing. Existing fence lines may not fall directly on the legal boundary.

Other:This sale is 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, Peoples Company, or Seller. All bids will be on a per-acre basis. Peoples Company and its representatives are agents of the Seller. The winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made on auction day by the Auctioneer or Listing Agents will take precedence over all previous marketing material or oral statements. Bidding increments are at the sole discretion of the Auctioneer. No absentee or phone bids will be accepted at the auction without prior approval of the Auctioneer. All decisions of the Auctioneer are final.

Disclaimer:All field boundaries are presumed to be accurate according to the best available information and knowledge of the Seller and Peoples Company. Overall tract acres, tillable acres, etc. may vary from the figures stated within the marketing material. The buyer should perform his/her own investigation of the property prior to bidding at the auction. The brief legal descriptions in the marketing material should not be used in legal documents. Full legal descriptions will be taken from the abstract.