AUCTION DETAILS Major Pottawattamie County, Iowa Land Auction 657.18 Acres M/L Offered in Six Tracts Thursday, October 26th, 2023 10:00 AM Auction Location: UMBA Hall 300 2nd Avenue Underwood, Iowa 51576 Seller: J Pryor Farms LLC Auction Method: All 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, any or all tracts for their high bid. The "Buyer's Choice Auction Method" auctioning will continue until all six tracts have been purchased. Tracts will not be offered in their entirety or combined after the auction. Tract 1: 49.22 Acres M/L Tract 2: 77 Acres M/L Tract 3: 66 Acres M/L Tract 4: 174.66 Acres M/L Tract 5: 150.12 Acres M/L Tract 6: 140.18 Acres M/L Buyer's Premium: Buyer will be responsible for payment of a premium of 3% of the purchase price, payable at closing. 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 Pottawattamie 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 Pottawattamie 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 at Watson & Ryan PLC. Closing: Closing will occur on or before Tuesday, December 12th, 2023. The balance of the purchase price will be payable at closing in the form of cash, guaranteed checks, or wire transfers. Possession: Possession of the land will be given At Closing, Subject to the Tenant's Rights. Farm Lease: The farm's lease has been terminated and is open for the 2024 cropping season. CRP Contracts: Buyer will assume any contracts related to participation in the Conservation Reserve Program (CRP). 2023 CRP Income will be prorated between the Buyer and Seller to the date of Closing. Contact the agent for details. 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 the Abstract.
Major Pottawattamie County, Iowa Land Auction – Mark your calendar for Thursday, October 26th, 2023 at 10:00 AM! Peoples Company and the Lund Company are pleased to represent J Pryor Farms LLC in the sale of 657.18 total acres m/l of prime Pottawattamie County, Iowa farmland offered through 6 different tracts ranging in size from 49.22 acres m/l to 174.66 acres m/l. Of the total 657.18 acres m/l in this portfolio, the Pryor Family farmland includes 626.92 FSA cropland acres carrying CSR2 ratings in the mid-50s to low 70s. The remaining balance of the acres consists of well-maintained waterways and quality timber. Located in a strong farming community near several competing grain markets including both grain elevators and ethanol plants, these highly-tillable tracts of farmland would make for a great add-on unit to an existing farm operation or investment-grade quality land purchase. This excellent land portfolio was assembled by Art Camenzind who proudly owned these farms before passing them down to the next generation, J Pryor Farms LLC. These farms have had long-term tenants in place who have taken excellent care of the farmland for many years. Tract 1: 49.22 acres m/l with 48.47 FSA cropland acres carrying a CSR2 soil rating of 71.2. Tract 2: 77 acres m/l with 71.23 FSA cropland acres carrying a CSR2 soil rating of 70.8. Tract 3: 66 acres m/l with 64.34 FSA cropland acres and a CSR2 rating of 52.2. Tract 4: 174.66 acres m/l with 166.13 FSA cropland acres carrying a CSR2 soil rating of 69.6. Tract 5: 150.12 acres m/l with 137.03 FSA cropland acres carrying a CSR2 soil rating of 64.5. Tract 6: 140.18 acres m/l with 139.72 FSA cropland acres carrying a CSR2 soil rating of 59.7. The six tracts will be offered via Public Auction and will take place at 10:00 AM at the UMBA Hall, 300 2nd Avenue, Underwood, Iowa 51576. The farmland tracts will be sold as six 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 all tracts for their high bid. "Buyer's Choice" auctioning will continue until all six 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. A three percent (3%) Buyer's Premium will be added to the final bid price and included in the total purchase price.