Interstate 80, Colfax, IA 50054 - Jasper County

Jasper County, Iowa Farmland Auction Mark your calendar for Thursday, September 14th, 2023! Peoples Company is pleased to represent the Russell Family in the sale of 286.63 total acres m/l of prime Jasper County, Iowa farmland. The farmland is located between Colfax and Newton, Iowa just off of Interstate 80 on County Highway F48 & County Highway S52 and in Section 33 of Sherman Township. This highly tillable farm includes 284.16 FSA cropland acres designated NHEL and an average CSR2 soil rating of 53.3. The primary soil types include Zook silty clay loam, Wabash silty clay, and Colo silty clay loam.

The farmland will be sold as two individual tracts through the Buyers Choice Auction Method where the High/Winning Bidder can elect to purchase an individual tract or both tracts.

Tract 1: 147.8 Acres M/L with 141.1 FSA cropland acres carrying a CSR2 of 54.4.

Tract 2: 138.83 Acres M/L with 143.06 FSA cropland acres carrying a CSR2 of 52.2.

These high-quality farmland tracts are located in a strong farming community and would make for a great add-on tract to an existing farming operation or an investment for the Buyer looking to diversify their portfolio or hedge inflation. There are several grain marketing outlets located nearby including grain elevators and ethanol plants that can be accessed by both county and state paved highways.

The two tracts will be offered on a price-per-acre basis via Public Auction and will take place on Thursday, September 14th, 2023 at 10:00 AM at the Colfax Historical Society, 900 North Walnut Street, Colfax, Iowa 50054. The farm will be sold as two individual tracts using the "Buyers Choice" auction method on a price per acre basis, and the high bidder can take, in any order, one or both tracts for their high bid. "Buyers Choice" auctioning will continue until both tracts have been purchased and removed from the auction. Tracts will not be offered in their entirety after the auction. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available.

*Note* Farm Program Information, base acres, total crop acres, conservation plan, etc. are subject to change when the farm is reconstituted by the Jasper County FSA and NRCS offices.

AUCTION DETAILS

Jasper County, Iowa Land Auction

286.63 Acres M/L

Thursday, September 14th, 2023 at 10:00 AM

Seller: Russell Family

Auction Location:

Colfax Historical Society

900 North Walnut Street

Colfax, Iowa 50054

Online Bidding: Register to bid on our website. Potential bidders may have access to the live auction by utilizing Peoples Company's online auction platform via the Internet. By using Peoples Company's online auction platform, bidders acknowledge that the Internet is known to be unpredictable in performance and may, from time to time, impede access, become inoperative, or provide a slow connection to the online auction platform. Bidders agree that Peoples Company nor its affiliates, members, officers, shareholders, agents, or contractors are, in any way, responsible for any interference or connectivity issues the bidder may experience when utilizing the online auction platform.

Auction Method: The farm will be sold as two individual tracts using the "Buyers Choice" auction method on a price per acre basis, and the high bidder can take, in any order, one or both tracts for their high bid. "Buyers Choice" auctioning will continue until both tracts have been purchased and removed from the auction. Public Auction on Thursday, September 14th, 2023 at 10:00 AM at the Colfax Historical Society, Colfax, Iowa. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available.

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number 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 Jasper 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 Jasper 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 Friday, November 3rd, 2023. 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 land will be given At Closing, Subject to Tenant's Rights.

Farm Lease: The farm lease has been terminated and is open for the 2024 cropping season.

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.

Surveys: No additional surveying or staking will be provided by the Seller.

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 figures stated within the marketing material. Buyer should perform his/her investigation of the property before 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 abstract.