TERMS:

Terms & Conditions:

Purchase Agreement: Successful bidder will enter into a purchase agreement immediately after being declared the winning bidder by the Auctioneer. PLEASE NOTE: The purchase agreement will offer NO CONTINGENCIES for financing, property condition, or any other alterations to the contract.  Property is being sold “AS IS”. Prospective Buyers are urged to inspect the property prior to the auction date to their own satisfaction.                                                                                                                                                                                      Auction Method: Farm will be sold on a price per acre basis times  the number of NET TAXABLE ACRES to determine the contract price.                                                                              Earnest Deposit: Successful bidder will provide an Earnest Deposit in the amount of 10% of the contract price, which will be deposited in the Trust Account of Clear Title & Abstracting.  Deposit will only be refunded if the SELLER defaults, or if required by Iowa law.                                                                                                                                                                              Taxes: Taxes TBD after survey                                                                                                                                                                                                                                                  Closing: Closing to be on or before December 22nd, 2017.  Closing to be conducted by Clear Title & Abstract, with the closing fee to be split 50/50 between the Buyer and the Seller.              Possession & Lease: Buyer will receive possession upon successful closing and filing of all required documents, subject to current tenants rights until March 1st 2018.                                      Lease: Has been terminated for 2018 so Buyer will have full possession for the 2018  crop year.                                                                                                                                                    Title: Seller will provide Clear & Marketable Title by having Abstract continued to date of sale. Buyer will be responsible for having their attorney review abstract to their satisfaction      Easements: Sale is subject to any and all Easements and Right of Ways of record.                                                                                                                                                                        Agency: United Country Menke Auction & Realty and their agents are acting as Exclusive Agents for the Sellers.                                                                                                                         

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