TERMS:

All Bidders will be required to accept the terms and conditions of this auction to be approved to bid.

The 3 year lease agreements

will be posted online for review as soon as they are available.

Complete terms and conditions will be stated within the contracts.

Online Auction Terms & Registration Information

• All Tracts will be offered on an individual basis. The bidding on the tracts will be per tillable acre. The multiplier will be according to the FSA tillable acres on said tracts.
• The online auction will take place at www.steffesgroup.com.  Potential bidders will be required to register prior to the online auction.
• All tracts will be linked together. This means the tracts will be set to close simultaneously. This will be indicated on those tracts by a paper clip symbol. The paper clip symbol means that each tract linked together will stay in extension until no bids are placed on any of the linked tracts and the time has expired.
• When using our online auction services, you are making a firm commitment to rent said tract(s) and are entering into a legal and binding contract. Your bids may not be cancelled or retraced for any reason.
• The successful bidder(s) will be required to sign a Farm Cash Rent Agreement contract following the close of the auction with 100% of the first years rent due at signing.
• Rental contracts will be signed on Tuesday, March 20, 2018 following the auction on the farm located at 33748 W. US Highway 69, Bethany, MO 64424.
• Tenant’s rights will be immediately granted following the signing of contracts and payment is received.
• This online only auction is selling subject to seller confirmation of all tracts.

Special Provisions:

• The tillable land lease agreements are selling free and clear for the 2018 farming season.
• It shall be the obligation of the buyer(s) to report to the Harrison County, MO FSA office and show signed lease agreement(s) in order to receive the following if applicable:   A. Allotted base acres.  B. Any future government programs. 
• Buyer agrees to follow all requirements of conservation plans and practices required by the FSA to maintain eligibility in the Conservation Reserve Program. Buyer agrees to accept responsibility and liability for any actions by the buyer which would endanger eligibility for the CRP or actions that would require repayment of the CRP payment or payments. Buyer further agrees to indemnify and hold harmless the sellers for any recovery sought by the FSA due to actions of buyer, which would violate the requirements of the CRP.
• Buyer acknowledges that they will NOT receive any CRP payment(s) from any tracts of land being leased. 100% of CRP payments go to the landowner/seller.
• This auction sale is not contingent upon Buyer’s financing or any other buyer contingencies.
• The buyer(s) acknowledge that they have carefully and thoroughly inspected real estate and are familiar with the premises.
• The buyer(s) acknowledge that they are able to provide proof of liability and property damage insurance to the seller upon request.
• Steffes Group, Inc. is representing the Seller.

GENERAL TERMS AND CONDITIONS

• Any announcement made the day of the auction, take precedence over previously advertised information.
• The Terms & Conditions of Sale are set forth in the Bidder’s Packet. The information set forth is believed to be accurate. However, the owner(s) of the property and Steffes Group, Inc. make no warranties or guaranties express or implied. Information contained in this document was collected from sources deemed to be reliable and is true and correct to the best of the writer’s knowledge. Auctioneers and owners will not be held responsible for advertising discrepancies or inaccuracies. Prospective bidders are advised to consult with an attorney of their choice with respect to the rental of any real property including but not limited to, seeking legal advice from their own attorney regarding disclosures and disclaimers set forth below.

PROPERTY TO BE RENTED WITHOUT WARRANTY

All dimensions and descriptions are approximations only based upon the best information available and are subject to possible variation. Sketches may not be drawn to scale and photographs may not depict the current condition of the property. Bidders should inspect the property and also review all the pertinent documents and information available, as each bidder is responsible for evaluation of the property and shall not rely upon the Seller, Auctioneer, their Employees or Agents. The property will be rented AS IS and without any warranties or representations, express or implied.

OWNER’S PERFORMANCE

The Owner has agreed to the terms of this Cash Rent auction as published. However, Steffes Group, Inc. makes no warranties or guaranties as to the Owner’s performance.

SELLER’S INFORMATION

Claude Cox & Sons Farm, GlennDale Cox, Bryan Cox, & Ray Youngman – Sellers/ Landlords

Scott Summers – Attorney for the sellers

For more information contact Terry Hoenig of Steffes Group at 319.385.2000 or by cell at 319.470.7120

Terms & Conditions

By accepting the terms and conditions of this auction you acknowledge you are entering into a legal and binding contract. You agree to abide by all terms and conditions and you acknowledge receipt of all explanations and information made available by Steffes Group, Inc., also referred to as Steffes Group or Company. 

Payment

When paying within the stated time and with our acceptable payment methods: 

• A 10% buyer’s premium with a maximum charge of $1,000 per item applies to items purchased on Timed Online Auctions.
  
  
• A 2% buyer’s premium with a maximum charge of $500 per item applies to items purchased on Live Webcast Auctions.

You agree to make payment for all online purchases in U.S. funds within 2 business days of receipt of invoice by one of the acceptable forms of payment unless approval of financing arrangements is made with Steffes Group. To issue a check by fax, simply write a check as you normally would and fax a copy to us. All NSF checks will be charged a $30 fee. Checks by mail are not an accepted form of payment. Any other form of payment, other than the listed acceptable payment methods are subject to an additional 3% buyer's fee on the full amount of the purchase. No items will be released until full payment clears our office.

Acceptable forms of payment:

• Bank Wire Transfer; please call for wire instructions to be emailed to you.
• Check delivered to our office that held the auction

• Check By Phone

Mt. Pleasant, Ames 319-385-2000

West Fargo, Sioux Falls, Grand Forks 701-237-9173

Litchfield 320-693-9371

• Check By Fax

Mt. Pleasant, Ames 319-385-4709

West Fargo, Sioux Falls, Grand Forks 701-237-0976

Litchfield 320-693-9373

Sales Tax

All appropriate state sales tax laws will apply per the location and type of seller of the piece of equipment.

Please note that Minnesota does not consider regularly-scheduled consignment auctions as "auctions" but rather "consignment auctions," requiring sales tax to be charged unless the buyer provides an exemption form for qualifying items.

For purchases in South Dakota you are not exempt from any sales tax unless a 3^rd party transports your items and you take possession outside of the State of South Dakota. In that case, the state laws where you take possession are effective. There are exceptions for dealers (retailers).

Click on the following for a tax exempt form: Minnesota Tax Link    North Dakota Tax Link    Iowa Tax Link 

ND Dakota titled vehicles

Per North Dakota vehicle and sales tax laws, upon registration and licensing of any titled vehicle or trailer, any buyer’s premium paid is considered to be part of the sales price. Sales tax will be charged by the State of North Dakota on the entire sales price (including buyer’s premium) for any vehicle registered in North Dakota. 

If you have any questions concerning sales tax on a piece of equipment, please contact the appropriate state government agency at the location of the item on auction. 

ND Sales Tax Terms for Canadian Customers

 Used Farm Equipment

The sale, at auction, of used farm machinery to a Canadian farmer for agricultural use is exempt from sales tax the same as a North Dakota Farmer.

The purchase, at auction, of used farm machinery by a Canadian farm equipment dealer (retailer) would be sales taxable unless:

• You complete an exemption certificate with a ND sales tax permit number
• The purchased goods are shipped by a 3^rd party to you in Canada - in this case a delivery receipt must be provided to Steffes Group.

 New Farm Equipment

The sale, at auction, of new farm machinery to a Canadian farmer for agricultural use, or a Canadian farm equipment dealer (retailer) is taxable at the current state rate of 3% plus any local sales tax if applicable.  The law also provides that Canadians may apply for a refund of the tax paid when meeting certain requirements.  This form and conditions of use are available online at http://www.nd.gov/tax/salesand%20use/canrefund/. 

Agents for Sellers

Steffes Group, Inc. and its Employees act merely as agents for sellers. All auctions are with reserve unless specifically stated otherwise. Auctions are with undisclosed reserves unless advertised otherwise as "Absolute."  Auctioneers, at their discretion, may place a reserve bid on behalf of the seller. All final bids are subject to the seller's confirmation. Only the top bidder will be contacted as to the status of his/her bid. While the information we provide on item(s) is deemed correct, no warranties are expressed or implied as to any items being sold, and you agree to purchase and accept the item in an as-is condition. Information on items is obtained by us from the sellers and you hereby agree to hold harmless Steffes Group and our Employees for any errors or omissions regarding the item(s) being sold. This information includes but is not limited to year, model, machine or engine hours, physical condition, options, features and other data pertinent to the value of the item. All items are sold As-Is-Where-Is unless specific factory or seller issued warranties are listed in the item description.

Inspection

You acknowledge that you have the right and responsibility to inspect the item(s) personally, or to have a third party representative inspect the item(s) for you. That by bidding on an item you have agreed to accept that item in its present condition at its present location and with the description provided whether accurate or not. 

Auction Close

Timed-online auctions will begin to close on the date and time listed. Lots will remain open until no bids have been placed within the last 4 minutes. Timed-online auctions normally close at a rate of 3 lots every 2 minutes.  

Please note that some lots can be tied together and will be set to close simultaneously.  This will be indicated in those lots by a paper clip symbol.  Please hover your mouse over the symbol to see what lots are tied together. The paper clip symbol means that each lot tied will stay in extension until there are no more bids on any of the lots that are tied.

         Steffes Group reserves the right to close multiple lots per minute at its discretion. Upon your accepted bid of an item, that item shall immediately become your responsibility and be at your risk (whether you have paid for that item or not). You agree that Steffes Group, its employees, and its sellers are not responsible for lost, stolen or damaged items and will not reimburse or discount items for any type of loss. Buyers are responsible for any costs incurred to prepare your item(s) for transport and/or shipping. This includes, but is not necessarily limited to, the cost of any rigging, dis-assembly, special loading requirements, transport, packaging, insurance, and all other costs related to physical transfer of your item(s). You agree to remit payment and remove from the auction property any purchases within the stated time for the auction being conducted. You further understand and agree that failure to remove items in the stated time for the auction will subject you to moving and storage fees unless arrangements have been made with the seller. 

Buyer Default

When using our online auction services you are making a firm commitment to purchase said item(s) and are entering into a legal and binding contract. Bids may not be cancelled or retracted for any reason. 

Non-paying bidders or fraudulent bidding will subject you to legal recourse and possible criminal charges including any fraud and/or interstate commerce violations. 

Internet Risk

You acknowledge that the internet may be an unreliable and error-prone network. Steffes Group will not guarantee that bids placed online will always be transmitted to or received by the auctioneer in a timely fashion. You agree to hold Steffes Group, Inc. and its employees harmless for any interruptions in online bidding. At the sole discretion of the Company, the auction may be suspended, postponed, or cancelled if internet service is unstable or disrupts the online portion of any event that is simulcast as an Internet Auction. 

Further, the auctioneer has the sole discretion to accept or refuse any bid. Steffes Group retains the right, at our sole discretion, to add, delete, or change some or all of our online services and the terms and conditions governing their online auctions at any time without notice. 

Abandonment Policy

Steffes Group provides this Abandonment Policy to inform you of our policies and procedures regarding any purchased item(s)/property that has not been removed by a buyer in a timely manner. Upon winning the bid for an item(s), after paying for item(s) purchased, a buyer is obligated to remove the item(s) from the auction site within a timely manner. 

Steffes Group may deem a buyer's failure to claim and remove equipment within 60 days following the close of an auction as evidence of buyer's intention to abandon the property. In these instances, the Company may take action that is adverse to buyer's interest in the property, including, but not limited to steps to dispose of the property. 

Disposition of property may include a variety of approaches based upon the buyer's purchase price of the property as follows: 

1) For those items with a final selling price of $5,000 or less, the Company will determine the appropriate disposition approach which may include:

• Removing and disposing as the Company sees fit.
• Allowing seller to retain or scrap.
• Sell the item(s), whereby the Company will remit the sales proceeds to the buyer, less selling and advertising expenses, storage costs, plus 20% administrative fee. 

2) For those items with a final selling price of greater than $5,000, Steffes Group may remove the item from the selling location and resolve as follows:

• The Company may reimburse the seller on the buyer's behalf for storage fees of $25 per day, with the total amount not to exceed $1,500.
• Sell the item(s), whereby the Company will remit the sales proceeds to the buyer, less selling and advertising expenses and storage costs, plus 20% administrative fee. 

If a buyer with the winning bid has not removed the purchased item(s) from selling location within 10 business days after the close of the auction, the buyer will be responsible for directly paying the seller any and all storage fees if levied by the seller. If levied by the seller, storage fees will be $25 per day beginning the 10th day after the close of the auction/winning bid.

TERMS:

All Bidders will be required to accept the terms and conditions of this auction to be approved to bid.

The 3 year lease agreements

will be posted online for review as soon as they are available.

Complete terms and conditions will be stated within the contracts.

Online Auction Terms & Registration Information

• All Tracts will be offered on an individual basis. The bidding on the tracts will be per tillable acre. The multiplier will be according to the FSA tillable acres on said tracts.
• The online auction will take place at www.steffesgroup.com.  Potential bidders will be required to register prior to the online auction.
• All tracts will be linked together. This means the tracts will be set to close simultaneously. This will be indicated on those tracts by a paper clip symbol. The paper clip symbol means that each tract linked together will stay in extension until no bids are placed on any of the linked tracts and the time has expired.
• When using our online auction services, you are making a firm commitment to rent said tract(s) and are entering into a legal and binding contract. Your bids may not be cancelled or retraced for any reason.
• The successful bidder(s) will be required to sign a Farm Cash Rent Agreement contract following the close of the auction with 100% of the first years rent due at signing.
• Rental contracts will be signed on Tuesday, March 20, 2018 following the auction on the farm located at 33748 W. US Highway 69, Bethany, MO 64424.
• Tenant’s rights will be immediately granted following the signing of contracts and payment is received.
• This online only auction is selling subject to seller confirmation of all tracts.

Special Provisions:

• The tillable land lease agreements are selling free and clear for the 2018 farming season.
• It shall be the obligation of the buyer(s) to report to the Harrison County, MO FSA office and show signed lease agreement(s) in order to receive the following if applicable:   A. Allotted base acres.  B. Any future government programs. 
• Buyer agrees to follow all requirements of conservation plans and practices required by the FSA to maintain eligibility in the Conservation Reserve Program. Buyer agrees to accept responsibility and liability for any actions by the buyer which would endanger eligibility for the CRP or actions that would require repayment of the CRP payment or payments. Buyer further agrees to indemnify and hold harmless the sellers for any recovery sought by the FSA due to actions of buyer, which would violate the requirements of the CRP.
• Buyer acknowledges that they will NOT receive any CRP payment(s) from any tracts of land being leased. 100% of CRP payments go to the landowner/seller.
• This auction sale is not contingent upon Buyer’s financing or any other buyer contingencies.
• The buyer(s) acknowledge that they have carefully and thoroughly inspected real estate and are familiar with the premises.
• The buyer(s) acknowledge that they are able to provide proof of liability and property damage insurance to the seller upon request.
• Steffes Group, Inc. is representing the Seller.

GENERAL TERMS AND CONDITIONS

• Any announcement made the day of the auction, take precedence over previously advertised information.
• The Terms & Conditions of Sale are set forth in the Bidder’s Packet. The information set forth is believed to be accurate. However, the owner(s) of the property and Steffes Group, Inc. make no warranties or guaranties express or implied. Information contained in this document was collected from sources deemed to be reliable and is true and correct to the best of the writer’s knowledge. Auctioneers and owners will not be held responsible for advertising discrepancies or inaccuracies. Prospective bidders are advised to consult with an attorney of their choice with respect to the rental of any real property including but not limited to, seeking legal advice from their own attorney regarding disclosures and disclaimers set forth below.

PROPERTY TO BE RENTED WITHOUT WARRANTY

All dimensions and descriptions are approximations only based upon the best information available and are subject to possible variation. Sketches may not be drawn to scale and photographs may not depict the current condition of the property. Bidders should inspect the property and also review all the pertinent documents and information available, as each bidder is responsible for evaluation of the property and shall not rely upon the Seller, Auctioneer, their Employees or Agents. The property will be rented AS IS and without any warranties or representations, express or implied.

OWNER’S PERFORMANCE

The Owner has agreed to the terms of this Cash Rent auction as published. However, Steffes Group, Inc. makes no warranties or guaranties as to the Owner’s performance.

SELLER’S INFORMATION

Claude Cox & Sons Farm, GlennDale Cox, Bryan Cox, & Ray Youngman – Sellers/ Landlords

Scott Summers – Attorney for the sellers

For more information contact Terry Hoenig of Steffes Group at 319.385.2000 or by cell at 319.470.7120

Terms & Conditions

By accepting the terms and conditions of this auction you acknowledge you are entering into a legal and binding contract. You agree to abide by all terms and conditions and you acknowledge receipt of all explanations and information made available by Steffes Group, Inc., also referred to as Steffes Group or Company. 

Payment

When paying within the stated time and with our acceptable payment methods: 

• A 10% buyer’s premium with a maximum charge of $1,000 per item applies to items purchased on Timed Online Auctions.
  
  
• A 2% buyer’s premium with a maximum charge of $500 per item applies to items purchased on Live Webcast Auctions.

You agree to make payment for all online purchases in U.S. funds within 2 business days of receipt of invoice by one of the acceptable forms of payment unless approval of financing arrangements is made with Steffes Group. To issue a check by fax, simply write a check as you normally would and fax a copy to us. All NSF checks will be charged a $30 fee. Checks by mail are not an accepted form of payment. Any other form of payment, other than the listed acceptable payment methods are subject to an additional 3% buyer's fee on the full amount of the purchase. No items will be released until full payment clears our office.

Acceptable forms of payment:

• Bank Wire Transfer; please call for wire instructions to be emailed to you.
• Check delivered to our office that held the auction

• Check By Phone

Mt. Pleasant, Ames 319-385-2000

West Fargo, Sioux Falls, Grand Forks 701-237-9173

Litchfield 320-693-9371

• Check By Fax

Mt. Pleasant, Ames 319-385-4709

West Fargo, Sioux Falls, Grand Forks 701-237-0976

Litchfield 320-693-9373

Sales Tax

All appropriate state sales tax laws will apply per the location and type of seller of the piece of equipment.

Please note that Minnesota does not consider regularly-scheduled consignment auctions as "auctions" but rather "consignment auctions," requiring sales tax to be charged unless the buyer provides an exemption form for qualifying items.

For purchases in South Dakota you are not exempt from any sales tax unless a 3^rd party transports your items and you take possession outside of the State of South Dakota. In that case, the state laws where you take possession are effective. There are exceptions for dealers (retailers).

Click on the following for a tax exempt form: Minnesota Tax Link    North Dakota Tax Link    Iowa Tax Link 

ND Dakota titled vehicles

Per North Dakota vehicle and sales tax laws, upon registration and licensing of any titled vehicle or trailer, any buyer’s premium paid is considered to be part of the sales price. Sales tax will be charged by the State of North Dakota on the entire sales price (including buyer’s premium) for any vehicle registered in North Dakota. 

If you have any questions concerning sales tax on a piece of equipment, please contact the appropriate state government agency at the location of the item on auction. 

ND Sales Tax Terms for Canadian Customers

 Used Farm Equipment

The sale, at auction, of used farm machinery to a Canadian farmer for agricultural use is exempt from sales tax the same as a North Dakota Farmer.

The purchase, at auction, of used farm machinery by a Canadian farm equipment dealer (retailer) would be sales taxable unless:

• You complete an exemption certificate with a ND sales tax permit number
• The purchased goods are shipped by a 3^rd party to you in Canada - in this case a delivery receipt must be provided to Steffes Group.

 New Farm Equipment

The sale, at auction, of new farm machinery to a Canadian farmer for agricultural use, or a Canadian farm equipment dealer (retailer) is taxable at the current state rate of 3% plus any local sales tax if applicable.  The law also provides that Canadians may apply for a refund of the tax paid when meeting certain requirements.  This form and conditions of use are available online at http://www.nd.gov/tax/salesand%20use/canrefund/. 

Agents for Sellers

Steffes Group, Inc. and its Employees act merely as agents for sellers. All auctions are with reserve unless specifically stated otherwise. Auctions are with undisclosed reserves unless advertised otherwise as "Absolute."  Auctioneers, at their discretion, may place a reserve bid on behalf of the seller. All final bids are subject to the seller's confirmation. Only the top bidder will be contacted as to the status of his/her bid. While the information we provide on item(s) is deemed correct, no warranties are expressed or implied as to any items being sold, and you agree to purchase and accept the item in an as-is condition. Information on items is obtained by us from the sellers and you hereby agree to hold harmless Steffes Group and our Employees for any errors or omissions regarding the item(s) being sold. This information includes but is not limited to year, model, machine or engine hours, physical condition, options, features and other data pertinent to the value of the item. All items are sold As-Is-Where-Is unless specific factory or seller issued warranties are listed in the item description.

Inspection

You acknowledge that you have the right and responsibility to inspect the item(s) personally, or to have a third party representative inspect the item(s) for you. That by bidding on an item you have agreed to accept that item in its present condition at its present location and with the description provided whether accurate or not. 

Auction Close

Timed-online auctions will begin to close on the date and time listed. Lots will remain open until no bids have been placed within the last 4 minutes. Timed-online auctions normally close at a rate of 3 lots every 2 minutes.  

Please note that some lots can be tied together and will be set to close simultaneously.  This will be indicated in those lots by a paper clip symbol.  Please hover your mouse over the symbol to see what lots are tied together. The paper clip symbol means that each lot tied will stay in extension until there are no more bids on any of the lots that are tied.

         Steffes Group reserves the right to close multiple lots per minute at its discretion. Upon your accepted bid of an item, that item shall immediately become your responsibility and be at your risk (whether you have paid for that item or not). You agree that Steffes Group, its employees, and its sellers are not responsible for lost, stolen or damaged items and will not reimburse or discount items for any type of loss. Buyers are responsible for any costs incurred to prepare your item(s) for transport and/or shipping. This includes, but is not necessarily limited to, the cost of any rigging, dis-assembly, special loading requirements, transport, packaging, insurance, and all other costs related to physical transfer of your item(s). You agree to remit payment and remove from the auction property any purchases within the stated time for the auction being conducted. You further understand and agree that failure to remove items in the stated time for the auction will subject you to moving and storage fees unless arrangements have been made with the seller. 

Buyer Default

When using our online auction services you are making a firm commitment to purchase said item(s) and are entering into a legal and binding contract. Bids may not be cancelled or retracted for any reason. 

Non-paying bidders or fraudulent bidding will subject you to legal recourse and possible criminal charges including any fraud and/or interstate commerce violations. 

Internet Risk

You acknowledge that the internet may be an unreliable and error-prone network. Steffes Group will not guarantee that bids placed online will always be transmitted to or received by the auctioneer in a timely fashion. You agree to hold Steffes Group, Inc. and its employees harmless for any interruptions in online bidding. At the sole discretion of the Company, the auction may be suspended, postponed, or cancelled if internet service is unstable or disrupts the online portion of any event that is simulcast as an Internet Auction. 

Further, the auctioneer has the sole discretion to accept or refuse any bid. Steffes Group retains the right, at our sole discretion, to add, delete, or change some or all of our online services and the terms and conditions governing their online auctions at any time without notice. 

Abandonment Policy

Steffes Group provides this Abandonment Policy to inform you of our policies and procedures regarding any purchased item(s)/property that has not been removed by a buyer in a timely manner. Upon winning the bid for an item(s), after paying for item(s) purchased, a buyer is obligated to remove the item(s) from the auction site within a timely manner. 

Steffes Group may deem a buyer's failure to claim and remove equipment within 60 days following the close of an auction as evidence of buyer's intention to abandon the property. In these instances, the Company may take action that is adverse to buyer's interest in the property, including, but not limited to steps to dispose of the property. 

Disposition of property may include a variety of approaches based upon the buyer's purchase price of the property as follows: 

1) For those items with a final selling price of $5,000 or less, the Company will determine the appropriate disposition approach which may include:

• Removing and disposing as the Company sees fit.
• Allowing seller to retain or scrap.
• Sell the item(s), whereby the Company will remit the sales proceeds to the buyer, less selling and advertising expenses, storage costs, plus 20% administrative fee. 

2) For those items with a final selling price of greater than $5,000, Steffes Group may remove the item from the selling location and resolve as follows:

• The Company may reimburse the seller on the buyer's behalf for storage fees of $25 per day, with the total amount not to exceed $1,500.
• Sell the item(s), whereby the Company will remit the sales proceeds to the buyer, less selling and advertising expenses and storage costs, plus 20% administrative fee. 

If a buyer with the winning bid has not removed the purchased item(s) from selling location within 10 business days after the close of the auction, the buyer will be responsible for directly paying the seller any and all storage fees if levied by the seller. If levied by the seller, storage fees will be $25 per day beginning the 10th day after the close of the auction/winning bid.

TERMS:

All Bidders will be required to accept the terms and conditions of this auction to be approved to bid.

The 3 year lease agreements

will be posted online for review as soon as they are available.

Complete terms and conditions will be stated within the contracts.

Online Auction Terms & Registration Information

• All Tracts will be offered on an individual basis. The bidding on the tracts will be per tillable acre. The multiplier will be according to the FSA tillable acres on said tracts.
• The online auction will take place at www.steffesgroup.com.  Potential bidders will be required to register prior to the online auction.
• All tracts will be linked together. This means the tracts will be set to close simultaneously. This will be indicated on those tracts by a paper clip symbol. The paper clip symbol means that each tract linked together will stay in extension until no bids are placed on any of the linked tracts and the time has expired.
• When using our online auction services, you are making a firm commitment to rent said tract(s) and are entering into a legal and binding contract. Your bids may not be cancelled or retraced for any reason.
• The successful bidder(s) will be required to sign a Farm Cash Rent Agreement contract following the close of the auction with 100% of the first years rent due at signing.
• Rental contracts will be signed on Tuesday, March 20, 2018 following the auction on the farm located at 33748 W. US Highway 69, Bethany, MO 64424.
• Tenant’s rights will be immediately granted following the signing of contracts and payment is received.
• This online only auction is selling subject to seller confirmation of all tracts.

Special Provisions:

• The tillable land lease agreements are selling free and clear for the 2018 farming season.
• It shall be the obligation of the buyer(s) to report to the Harrison County, MO FSA office and show signed lease agreement(s) in order to receive the following if applicable:   A. Allotted base acres.  B. Any future government programs. 
• Buyer agrees to follow all requirements of conservation plans and practices required by the FSA to maintain eligibility in the Conservation Reserve Program. Buyer agrees to accept responsibility and liability for any actions by the buyer which would endanger eligibility for the CRP or actions that would require repayment of the CRP payment or payments. Buyer further agrees to indemnify and hold harmless the sellers for any recovery sought by the FSA due to actions of buyer, which would violate the requirements of the CRP.
• Buyer acknowledges that they will NOT receive any CRP payment(s) from any tracts of land being leased. 100% of CRP payments go to the landowner/seller.
• This auction sale is not contingent upon Buyer’s financing or any other buyer contingencies.
• The buyer(s) acknowledge that they have carefully and thoroughly inspected real estate and are familiar with the premises.
• The buyer(s) acknowledge that they are able to provide proof of liability and property damage insurance to the seller upon request.
• Steffes Group, Inc. is representing the Seller.

GENERAL TERMS AND CONDITIONS

• Any announcement made the day of the auction, take precedence over previously advertised information.
• The Terms & Conditions of Sale are set forth in the Bidder’s Packet. The information set forth is believed to be accurate. However, the owner(s) of the property and Steffes Group, Inc. make no warranties or guaranties express or implied. Information contained in this document was collected from sources deemed to be reliable and is true and correct to the best of the writer’s knowledge. Auctioneers and owners will not be held responsible for advertising discrepancies or inaccuracies. Prospective bidders are advised to consult with an attorney of their choice with respect to the rental of any real property including but not limited to, seeking legal advice from their own attorney regarding disclosures and disclaimers set forth below.

PROPERTY TO BE RENTED WITHOUT WARRANTY

All dimensions and descriptions are approximations only based upon the best information available and are subject to possible variation. Sketches may not be drawn to scale and photographs may not depict the current condition of the property. Bidders should inspect the property and also review all the pertinent documents and information available, as each bidder is responsible for evaluation of the property and shall not rely upon the Seller, Auctioneer, their Employees or Agents. The property will be rented AS IS and without any warranties or representations, express or implied.

OWNER’S PERFORMANCE

The Owner has agreed to the terms of this Cash Rent auction as published. However, Steffes Group, Inc. makes no warranties or guaranties as to the Owner’s performance.

SELLER’S INFORMATION

Claude Cox & Sons Farm, GlennDale Cox, Bryan Cox, & Ray Youngman – Sellers/ Landlords

Scott Summers – Attorney for the sellers

For more information contact Terry Hoenig of Steffes Group at 319.385.2000 or by cell at 319.470.7120

Terms & Conditions

By accepting the terms and conditions of this auction you acknowledge you are entering into a legal and binding contract. You agree to abide by all terms and conditions and you acknowledge receipt of all explanations and information made available by Steffes Group, Inc., also referred to as Steffes Group or Company. 

Payment

When paying within the stated time and with our acceptable payment methods: 

• A 10% buyer’s premium with a maximum charge of $1,000 per item applies to items purchased on Timed Online Auctions.
  
  
• A 2% buyer’s premium with a maximum charge of $500 per item applies to items purchased on Live Webcast Auctions.

You agree to make payment for all online purchases in U.S. funds within 2 business days of receipt of invoice by one of the acceptable forms of payment unless approval of financing arrangements is made with Steffes Group. To issue a check by fax, simply write a check as you normally would and fax a copy to us. All NSF checks will be charged a $30 fee. Checks by mail are not an accepted form of payment. Any other form of payment, other than the listed acceptable payment methods are subject to an additional 3% buyer's fee on the full amount of the purchase. No items will be released until full payment clears our office.

Acceptable forms of payment:

• Bank Wire Transfer; please call for wire instructions to be emailed to you.
• Check delivered to our office that held the auction

• Check By Phone

Mt. Pleasant, Ames 319-385-2000

West Fargo, Sioux Falls, Grand Forks 701-237-9173

Litchfield 320-693-9371

• Check By Fax

Mt. Pleasant, Ames 319-385-4709

West Fargo, Sioux Falls, Grand Forks 701-237-0976

Litchfield 320-693-9373

Sales Tax

All appropriate state sales tax laws will apply per the location and type of seller of the piece of equipment.

Please note that Minnesota does not consider regularly-scheduled consignment auctions as "auctions" but rather "consignment auctions," requiring sales tax to be charged unless the buyer provides an exemption form for qualifying items.

For purchases in South Dakota you are not exempt from any sales tax unless a 3^rd party transports your items and you take possession outside of the State of South Dakota. In that case, the state laws where you take possession are effective. There are exceptions for dealers (retailers).

Click on the following for a tax exempt form: Minnesota Tax Link    North Dakota Tax Link    Iowa Tax Link 

ND Dakota titled vehicles

Per North Dakota vehicle and sales tax laws, upon registration and licensing of any titled vehicle or trailer, any buyer’s premium paid is considered to be part of the sales price. Sales tax will be charged by the State of North Dakota on the entire sales price (including buyer’s premium) for any vehicle registered in North Dakota. 

If you have any questions concerning sales tax on a piece of equipment, please contact the appropriate state government agency at the location of the item on auction. 

ND Sales Tax Terms for Canadian Customers

 Used Farm Equipment

The sale, at auction, of used farm machinery to a Canadian farmer for agricultural use is exempt from sales tax the same as a North Dakota Farmer.

The purchase, at auction, of used farm machinery by a Canadian farm equipment dealer (retailer) would be sales taxable unless:

• You complete an exemption certificate with a ND sales tax permit number
• The purchased goods are shipped by a 3^rd party to you in Canada - in this case a delivery receipt must be provided to Steffes Group.

 New Farm Equipment

The sale, at auction, of new farm machinery to a Canadian farmer for agricultural use, or a Canadian farm equipment dealer (retailer) is taxable at the current state rate of 3% plus any local sales tax if applicable.  The law also provides that Canadians may apply for a refund of the tax paid when meeting certain requirements.  This form and conditions of use are available online at http://www.nd.gov/tax/salesand%20use/canrefund/. 

Agents for Sellers

Steffes Group, Inc. and its Employees act merely as agents for sellers. All auctions are with reserve unless specifically stated otherwise. Auctions are with undisclosed reserves unless advertised otherwise as "Absolute."  Auctioneers, at their discretion, may place a reserve bid on behalf of the seller. All final bids are subject to the seller's confirmation. Only the top bidder will be contacted as to the status of his/her bid. While the information we provide on item(s) is deemed correct, no warranties are expressed or implied as to any items being sold, and you agree to purchase and accept the item in an as-is condition. Information on items is obtained by us from the sellers and you hereby agree to hold harmless Steffes Group and our Employees for any errors or omissions regarding the item(s) being sold. This information includes but is not limited to year, model, machine or engine hours, physical condition, options, features and other data pertinent to the value of the item. All items are sold As-Is-Where-Is unless specific factory or seller issued warranties are listed in the item description.

Inspection

You acknowledge that you have the right and responsibility to inspect the item(s) personally, or to have a third party representative inspect the item(s) for you. That by bidding on an item you have agreed to accept that item in its present condition at its present location and with the description provided whether accurate or not. 

Auction Close

Timed-online auctions will begin to close on the date and time listed. Lots will remain open until no bids have been placed within the last 4 minutes. Timed-online auctions normally close at a rate of 3 lots every 2 minutes.  

Please note that some lots can be tied together and will be set to close simultaneously.  This will be indicated in those lots by a paper clip symbol.  Please hover your mouse over the symbol to see what lots are tied together. The paper clip symbol means that each lot tied will stay in extension until there are no more bids on any of the lots that are tied.

         Steffes Group reserves the right to close multiple lots per minute at its discretion. Upon your accepted bid of an item, that item shall immediately become your responsibility and be at your risk (whether you have paid for that item or not). You agree that Steffes Group, its employees, and its sellers are not responsible for lost, stolen or damaged items and will not reimburse or discount items for any type of loss. Buyers are responsible for any costs incurred to prepare your item(s) for transport and/or shipping. This includes, but is not necessarily limited to, the cost of any rigging, dis-assembly, special loading requirements, transport, packaging, insurance, and all other costs related to physical transfer of your item(s). You agree to remit payment and remove from the auction property any purchases within the stated time for the auction being conducted. You further understand and agree that failure to remove items in the stated time for the auction will subject you to moving and storage fees unless arrangements have been made with the seller. 

Buyer Default

When using our online auction services you are making a firm commitment to purchase said item(s) and are entering into a legal and binding contract. Bids may not be cancelled or retracted for any reason. 

Non-paying bidders or fraudulent bidding will subject you to legal recourse and possible criminal charges including any fraud and/or interstate commerce violations. 

Internet Risk

You acknowledge that the internet may be an unreliable and error-prone network. Steffes Group will not guarantee that bids placed online will always be transmitted to or received by the auctioneer in a timely fashion. You agree to hold Steffes Group, Inc. and its employees harmless for any interruptions in online bidding. At the sole discretion of the Company, the auction may be suspended, postponed, or cancelled if internet service is unstable or disrupts the online portion of any event that is simulcast as an Internet Auction. 

Further, the auctioneer has the sole discretion to accept or refuse any bid. Steffes Group retains the right, at our sole discretion, to add, delete, or change some or all of our online services and the terms and conditions governing their online auctions at any time without notice. 

Abandonment Policy

Steffes Group provides this Abandonment Policy to inform you of our policies and procedures regarding any purchased item(s)/property that has not been removed by a buyer in a timely manner. Upon winning the bid for an item(s), after paying for item(s) purchased, a buyer is obligated to remove the item(s) from the auction site within a timely manner. 

Steffes Group may deem a buyer's failure to claim and remove equipment within 60 days following the close of an auction as evidence of buyer's intention to abandon the property. In these instances, the Company may take action that is adverse to buyer's interest in the property, including, but not limited to steps to dispose of the property. 

Disposition of property may include a variety of approaches based upon the buyer's purchase price of the property as follows: 

1) For those items with a final selling price of $5,000 or less, the Company will determine the appropriate disposition approach which may include:

• Removing and disposing as the Company sees fit.
• Allowing seller to retain or scrap.
• Sell the item(s), whereby the Company will remit the sales proceeds to the buyer, less selling and advertising expenses, storage costs, plus 20% administrative fee. 

2) For those items with a final selling price of greater than $5,000, Steffes Group may remove the item from the selling location and resolve as follows:

• The Company may reimburse the seller on the buyer's behalf for storage fees of $25 per day, with the total amount not to exceed $1,500.
• Sell the item(s), whereby the Company will remit the sales proceeds to the buyer, less selling and advertising expenses and storage costs, plus 20% administrative fee. 

If a buyer with the winning bid has not removed the purchased item(s) from selling location within 10 business days after the close of the auction, the buyer will be responsible for directly paying the seller any and all storage fees if levied by the seller. If levied by the seller, storage fees will be $25 per day beginning the 10th day after the close of the auction/winning bid.

TERMS:

All Bidders will be required to accept the terms and conditions of this auction to be approved to bid.

The 3 year lease agreements

will be posted online for review as soon as they are available.

Complete terms and conditions will be stated within the contracts.

Online Auction Terms & Registration Information

• All Tracts will be offered on an individual basis. The bidding on the tracts will be per tillable acre. The multiplier will be according to the FSA tillable acres on said tracts.
• The online auction will take place at www.steffesgroup.com.  Potential bidders will be required to register prior to the online auction.
• All tracts will be linked together. This means the tracts will be set to close simultaneously. This will be indicated on those tracts by a paper clip symbol. The paper clip symbol means that each tract linked together will stay in extension until no bids are placed on any of the linked tracts and the time has expired.
• When using our online auction services, you are making a firm commitment to rent said tract(s) and are entering into a legal and binding contract. Your bids may not be cancelled or retraced for any reason.
• The successful bidder(s) will be required to sign a Farm Cash Rent Agreement contract following the close of the auction with 100% of the first years rent due at signing.
• Rental contracts will be signed on Tuesday, March 20, 2018 following the auction on the farm located at 33748 W. US Highway 69, Bethany, MO 64424.
• Tenant’s rights will be immediately granted following the signing of contracts and payment is received.
• This online only auction is selling subject to seller confirmation of all tracts.

Special Provisions:

• The tillable land lease agreements are selling free and clear for the 2018 farming season.
• It shall be the obligation of the buyer(s) to report to the Harrison County, MO FSA office and show signed lease agreement(s) in order to receive the following if applicable:   A. Allotted base acres.  B. Any future government programs. 
• Buyer agrees to follow all requirements of conservation plans and practices required by the FSA to maintain eligibility in the Conservation Reserve Program. Buyer agrees to accept responsibility and liability for any actions by the buyer which would endanger eligibility for the CRP or actions that would require repayment of the CRP payment or payments. Buyer further agrees to indemnify and hold harmless the sellers for any recovery sought by the FSA due to actions of buyer, which would violate the requirements of the CRP.
• Buyer acknowledges that they will NOT receive any CRP payment(s) from any tracts of land being leased. 100% of CRP payments go to the landowner/seller.
• This auction sale is not contingent upon Buyer’s financing or any other buyer contingencies.
• The buyer(s) acknowledge that they have carefully and thoroughly inspected real estate and are familiar with the premises.
• The buyer(s) acknowledge that they are able to provide proof of liability and property damage insurance to the seller upon request.
• Steffes Group, Inc. is representing the Seller.

GENERAL TERMS AND CONDITIONS

• Any announcement made the day of the auction, take precedence over previously advertised information.
• The Terms & Conditions of Sale are set forth in the Bidder’s Packet. The information set forth is believed to be accurate. However, the owner(s) of the property and Steffes Group, Inc. make no warranties or guaranties express or implied. Information contained in this document was collected from sources deemed to be reliable and is true and correct to the best of the writer’s knowledge. Auctioneers and owners will not be held responsible for advertising discrepancies or inaccuracies. Prospective bidders are advised to consult with an attorney of their choice with respect to the rental of any real property including but not limited to, seeking legal advice from their own attorney regarding disclosures and disclaimers set forth below.

PROPERTY TO BE RENTED WITHOUT WARRANTY

All dimensions and descriptions are approximations only based upon the best information available and are subject to possible variation. Sketches may not be drawn to scale and photographs may not depict the current condition of the property. Bidders should inspect the property and also review all the pertinent documents and information available, as each bidder is responsible for evaluation of the property and shall not rely upon the Seller, Auctioneer, their Employees or Agents. The property will be rented AS IS and without any warranties or representations, express or implied.

OWNER’S PERFORMANCE

The Owner has agreed to the terms of this Cash Rent auction as published. However, Steffes Group, Inc. makes no warranties or guaranties as to the Owner’s performance.

SELLER’S INFORMATION

Claude Cox & Sons Farm, GlennDale Cox, Bryan Cox, & Ray Youngman – Sellers/ Landlords

Scott Summers – Attorney for the sellers

For more information contact Terry Hoenig of Steffes Group at 319.385.2000 or by cell at 319.470.7120

Terms & Conditions

By accepting the terms and conditions of this auction you acknowledge you are entering into a legal and binding contract. You agree to abide by all terms and conditions and you acknowledge receipt of all explanations and information made available by Steffes Group, Inc., also referred to as Steffes Group or Company. 

Payment

When paying within the stated time and with our acceptable payment methods: 

• A 10% buyer’s premium with a maximum charge of $1,000 per item applies to items purchased on Timed Online Auctions.
  
  
• A 2% buyer’s premium with a maximum charge of $500 per item applies to items purchased on Live Webcast Auctions.

You agree to make payment for all online purchases in U.S. funds within 2 business days of receipt of invoice by one of the acceptable forms of payment unless approval of financing arrangements is made with Steffes Group. To issue a check by fax, simply write a check as you normally would and fax a copy to us. All NSF checks will be charged a $30 fee. Checks by mail are not an accepted form of payment. Any other form of payment, other than the listed acceptable payment methods are subject to an additional 3% buyer's fee on the full amount of the purchase. No items will be released until full payment clears our office.

Acceptable forms of payment:

• Bank Wire Transfer; please call for wire instructions to be emailed to you.
• Check delivered to our office that held the auction

• Check By Phone

Mt. Pleasant, Ames 319-385-2000

West Fargo, Sioux Falls, Grand Forks 701-237-9173

Litchfield 320-693-9371

• Check By Fax

Mt. Pleasant, Ames 319-385-4709

West Fargo, Sioux Falls, Grand Forks 701-237-0976

Litchfield 320-693-9373

Sales Tax

All appropriate state sales tax laws will apply per the location and type of seller of the piece of equipment.

Please note that Minnesota does not consider regularly-scheduled consignment auctions as "auctions" but rather "consignment auctions," requiring sales tax to be charged unless the buyer provides an exemption form for qualifying items.

For purchases in South Dakota you are not exempt from any sales tax unless a 3^rd party transports your items and you take possession outside of the State of South Dakota. In that case, the state laws where you take possession are effective. There are exceptions for dealers (retailers).

Click on the following for a tax exempt form: Minnesota Tax Link    North Dakota Tax Link    Iowa Tax Link 

ND Dakota titled vehicles

Per North Dakota vehicle and sales tax laws, upon registration and licensing of any titled vehicle or trailer, any buyer’s premium paid is considered to be part of the sales price. Sales tax will be charged by the State of North Dakota on the entire sales price (including buyer’s premium) for any vehicle registered in North Dakota. 

If you have any questions concerning sales tax on a piece of equipment, please contact the appropriate state government agency at the location of the item on auction. 

ND Sales Tax Terms for Canadian Customers

 Used Farm Equipment

The sale, at auction, of used farm machinery to a Canadian farmer for agricultural use is exempt from sales tax the same as a North Dakota Farmer.

The purchase, at auction, of used farm machinery by a Canadian farm equipment dealer (retailer) would be sales taxable unless:

• You complete an exemption certificate with a ND sales tax permit number
• The purchased goods are shipped by a 3^rd party to you in Canada - in this case a delivery receipt must be provided to Steffes Group.

 New Farm Equipment

The sale, at auction, of new farm machinery to a Canadian farmer for agricultural use, or a Canadian farm equipment dealer (retailer) is taxable at the current state rate of 3% plus any local sales tax if applicable.  The law also provides that Canadians may apply for a refund of the tax paid when meeting certain requirements.  This form and conditions of use are available online at http://www.nd.gov/tax/salesand%20use/canrefund/. 

Agents for Sellers

Steffes Group, Inc. and its Employees act merely as agents for sellers. All auctions are with reserve unless specifically stated otherwise. Auctions are with undisclosed reserves unless advertised otherwise as "Absolute."  Auctioneers, at their discretion, may place a reserve bid on behalf of the seller. All final bids are subject to the seller's confirmation. Only the top bidder will be contacted as to the status of his/her bid. While the information we provide on item(s) is deemed correct, no warranties are expressed or implied as to any items being sold, and you agree to purchase and accept the item in an as-is condition. Information on items is obtained by us from the sellers and you hereby agree to hold harmless Steffes Group and our Employees for any errors or omissions regarding the item(s) being sold. This information includes but is not limited to year, model, machine or engine hours, physical condition, options, features and other data pertinent to the value of the item. All items are sold As-Is-Where-Is unless specific factory or seller issued warranties are listed in the item description.

Inspection

You acknowledge that you have the right and responsibility to inspect the item(s) personally, or to have a third party representative inspect the item(s) for you. That by bidding on an item you have agreed to accept that item in its present condition at its present location and with the description provided whether accurate or not. 

Auction Close

Timed-online auctions will begin to close on the date and time listed. Lots will remain open until no bids have been placed within the last 4 minutes. Timed-online auctions normally close at a rate of 3 lots every 2 minutes.  

Please note that some lots can be tied together and will be set to close simultaneously.  This will be indicated in those lots by a paper clip symbol.  Please hover your mouse over the symbol to see what lots are tied together. The paper clip symbol means that each lot tied will stay in extension until there are no more bids on any of the lots that are tied.

         Steffes Group reserves the right to close multiple lots per minute at its discretion. Upon your accepted bid of an item, that item shall immediately become your responsibility and be at your risk (whether you have paid for that item or not). You agree that Steffes Group, its employees, and its sellers are not responsible for lost, stolen or damaged items and will not reimburse or discount items for any type of loss. Buyers are responsible for any costs incurred to prepare your item(s) for transport and/or shipping. This includes, but is not necessarily limited to, the cost of any rigging, dis-assembly, special loading requirements, transport, packaging, insurance, and all other costs related to physical transfer of your item(s). You agree to remit payment and remove from the auction property any purchases within the stated time for the auction being conducted. You further understand and agree that failure to remove items in the stated time for the auction will subject you to moving and storage fees unless arrangements have been made with the seller. 

Buyer Default

When using our online auction services you are making a firm commitment to purchase said item(s) and are entering into a legal and binding contract. Bids may not be cancelled or retracted for any reason. 

Non-paying bidders or fraudulent bidding will subject you to legal recourse and possible criminal charges including any fraud and/or interstate commerce violations. 

Internet Risk

You acknowledge that the internet may be an unreliable and error-prone network. Steffes Group will not guarantee that bids placed online will always be transmitted to or received by the auctioneer in a timely fashion. You agree to hold Steffes Group, Inc. and its employees harmless for any interruptions in online bidding. At the sole discretion of the Company, the auction may be suspended, postponed, or cancelled if internet service is unstable or disrupts the online portion of any event that is simulcast as an Internet Auction. 

Further, the auctioneer has the sole discretion to accept or refuse any bid. Steffes Group retains the right, at our sole discretion, to add, delete, or change some or all of our online services and the terms and conditions governing their online auctions at any time without notice. 

Abandonment Policy

Steffes Group provides this Abandonment Policy to inform you of our policies and procedures regarding any purchased item(s)/property that has not been removed by a buyer in a timely manner. Upon winning the bid for an item(s), after paying for item(s) purchased, a buyer is obligated to remove the item(s) from the auction site within a timely manner. 

Steffes Group may deem a buyer's failure to claim and remove equipment within 60 days following the close of an auction as evidence of buyer's intention to abandon the property. In these instances, the Company may take action that is adverse to buyer's interest in the property, including, but not limited to steps to dispose of the property. 

Disposition of property may include a variety of approaches based upon the buyer's purchase price of the property as follows: 

1) For those items with a final selling price of $5,000 or less, the Company will determine the appropriate disposition approach which may include:

• Removing and disposing as the Company sees fit.
• Allowing seller to retain or scrap.
• Sell the item(s), whereby the Company will remit the sales proceeds to the buyer, less selling and advertising expenses, storage costs, plus 20% administrative fee. 

2) For those items with a final selling price of greater than $5,000, Steffes Group may remove the item from the selling location and resolve as follows:

• The Company may reimburse the seller on the buyer's behalf for storage fees of $25 per day, with the total amount not to exceed $1,500.
• Sell the item(s), whereby the Company will remit the sales proceeds to the buyer, less selling and advertising expenses and storage costs, plus 20% administrative fee. 

If a buyer with the winning bid has not removed the purchased item(s) from selling location within 10 business days after the close of the auction, the buyer will be responsible for directly paying the seller any and all storage fees if levied by the seller. If levied by the seller, storage fees will be $25 per day beginning the 10th day after the close of the auction/winning bid.

TERMS:

All Bidders will be required to accept the terms and conditions of this auction to be approved to bid.

The 3 year lease agreements

will be posted online for review as soon as they are available.

Complete terms and conditions will be stated within the contracts.

Online Auction Terms & Registration Information

• All Tracts will be offered on an individual basis. The bidding on the tracts will be per tillable acre. The multiplier will be according to the FSA tillable acres on said tracts.
• The online auction will take place at www.steffesgroup.com.  Potential bidders will be required to register prior to the online auction.
• All tracts will be linked together. This means the tracts will be set to close simultaneously. This will be indicated on those tracts by a paper clip symbol. The paper clip symbol means that each tract linked together will stay in extension until no bids are placed on any of the linked tracts and the time has expired.
• When using our online auction services, you are making a firm commitment to rent said tract(s) and are entering into a legal and binding contract. Your bids may not be cancelled or retraced for any reason.
• The successful bidder(s) will be required to sign a Farm Cash Rent Agreement contract following the close of the auction with 100% of the first years rent due at signing.
• Rental contracts will be signed on Tuesday, March 20, 2018 following the auction on the farm located at 33748 W. US Highway 69, Bethany, MO 64424.
• Tenant’s rights will be immediately granted following the signing of contracts and payment is received.
• This online only auction is selling subject to seller confirmation of all tracts.

Special Provisions:

• The tillable land lease agreements are selling free and clear for the 2018 farming season.
• It shall be the obligation of the buyer(s) to report to the Harrison County, MO FSA office and show signed lease agreement(s) in order to receive the following if applicable:   A. Allotted base acres.  B. Any future government programs. 
• Buyer agrees to follow all requirements of conservation plans and practices required by the FSA to maintain eligibility in the Conservation Reserve Program. Buyer agrees to accept responsibility and liability for any actions by the buyer which would endanger eligibility for the CRP or actions that would require repayment of the CRP payment or payments. Buyer further agrees to indemnify and hold harmless the sellers for any recovery sought by the FSA due to actions of buyer, which would violate the requirements of the CRP.
• Buyer acknowledges that they will NOT receive any CRP payment(s) from any tracts of land being leased. 100% of CRP payments go to the landowner/seller.
• This auction sale is not contingent upon Buyer’s financing or any other buyer contingencies.
• The buyer(s) acknowledge that they have carefully and thoroughly inspected real estate and are familiar with the premises.
• The buyer(s) acknowledge that they are able to provide proof of liability and property damage insurance to the seller upon request.
• Steffes Group, Inc. is representing the Seller.

GENERAL TERMS AND CONDITIONS

• Any announcement made the day of the auction, take precedence over previously advertised information.
• The Terms & Conditions of Sale are set forth in the Bidder’s Packet. The information set forth is believed to be accurate. However, the owner(s) of the property and Steffes Group, Inc. make no warranties or guaranties express or implied. Information contained in this document was collected from sources deemed to be reliable and is true and correct to the best of the writer’s knowledge. Auctioneers and owners will not be held responsible for advertising discrepancies or inaccuracies. Prospective bidders are advised to consult with an attorney of their choice with respect to the rental of any real property including but not limited to, seeking legal advice from their own attorney regarding disclosures and disclaimers set forth below.

PROPERTY TO BE RENTED WITHOUT WARRANTY

All dimensions and descriptions are approximations only based upon the best information available and are subject to possible variation. Sketches may not be drawn to scale and photographs may not depict the current condition of the property. Bidders should inspect the property and also review all the pertinent documents and information available, as each bidder is responsible for evaluation of the property and shall not rely upon the Seller, Auctioneer, their Employees or Agents. The property will be rented AS IS and without any warranties or representations, express or implied.

OWNER’S PERFORMANCE

The Owner has agreed to the terms of this Cash Rent auction as published. However, Steffes Group, Inc. makes no warranties or guaranties as to the Owner’s performance.

SELLER’S INFORMATION

Claude Cox & Sons Farm, GlennDale Cox, Bryan Cox, & Ray Youngman – Sellers/ Landlords

Scott Summers – Attorney for the sellers

For more information contact Terry Hoenig of Steffes Group at 319.385.2000 or by cell at 319.470.7120

Terms & Conditions

By accepting the terms and conditions of this auction you acknowledge you are entering into a legal and binding contract. You agree to abide by all terms and conditions and you acknowledge receipt of all explanations and information made available by Steffes Group, Inc., also referred to as Steffes Group or Company. 

Payment

When paying within the stated time and with our acceptable payment methods: 

• A 10% buyer’s premium with a maximum charge of $1,000 per item applies to items purchased on Timed Online Auctions.
  
  
• A 2% buyer’s premium with a maximum charge of $500 per item applies to items purchased on Live Webcast Auctions.

You agree to make payment for all online purchases in U.S. funds within 2 business days of receipt of invoice by one of the acceptable forms of payment unless approval of financing arrangements is made with Steffes Group. To issue a check by fax, simply write a check as you normally would and fax a copy to us. All NSF checks will be charged a $30 fee. Checks by mail are not an accepted form of payment. Any other form of payment, other than the listed acceptable payment methods are subject to an additional 3% buyer's fee on the full amount of the purchase. No items will be released until full payment clears our office.

Acceptable forms of payment:

• Bank Wire Transfer; please call for wire instructions to be emailed to you.
• Check delivered to our office that held the auction

• Check By Phone

Mt. Pleasant, Ames 319-385-2000

West Fargo, Sioux Falls, Grand Forks 701-237-9173

Litchfield 320-693-9371

• Check By Fax

Mt. Pleasant, Ames 319-385-4709

West Fargo, Sioux Falls, Grand Forks 701-237-0976

Litchfield 320-693-9373

Sales Tax

All appropriate state sales tax laws will apply per the location and type of seller of the piece of equipment.

Please note that Minnesota does not consider regularly-scheduled consignment auctions as "auctions" but rather "consignment auctions," requiring sales tax to be charged unless the buyer provides an exemption form for qualifying items.

For purchases in South Dakota you are not exempt from any sales tax unless a 3^rd party transports your items and you take possession outside of the State of South Dakota. In that case, the state laws where you take possession are effective. There are exceptions for dealers (retailers).

Click on the following for a tax exempt form: Minnesota Tax Link    North Dakota Tax Link    Iowa Tax Link 

ND Dakota titled vehicles

Per North Dakota vehicle and sales tax laws, upon registration and licensing of any titled vehicle or trailer, any buyer’s premium paid is considered to be part of the sales price. Sales tax will be charged by the State of North Dakota on the entire sales price (including buyer’s premium) for any vehicle registered in North Dakota. 

If you have any questions concerning sales tax on a piece of equipment, please contact the appropriate state government agency at the location of the item on auction. 

ND Sales Tax Terms for Canadian Customers

 Used Farm Equipment

The sale, at auction, of used farm machinery to a Canadian farmer for agricultural use is exempt from sales tax the same as a North Dakota Farmer.

The purchase, at auction, of used farm machinery by a Canadian farm equipment dealer (retailer) would be sales taxable unless:

• You complete an exemption certificate with a ND sales tax permit number
• The purchased goods are shipped by a 3^rd party to you in Canada - in this case a delivery receipt must be provided to Steffes Group.

 New Farm Equipment

The sale, at auction, of new farm machinery to a Canadian farmer for agricultural use, or a Canadian farm equipment dealer (retailer) is taxable at the current state rate of 3% plus any local sales tax if applicable.  The law also provides that Canadians may apply for a refund of the tax paid when meeting certain requirements.  This form and conditions of use are available online at http://www.nd.gov/tax/salesand%20use/canrefund/. 

Agents for Sellers

Steffes Group, Inc. and its Employees act merely as agents for sellers. All auctions are with reserve unless specifically stated otherwise. Auctions are with undisclosed reserves unless advertised otherwise as "Absolute."  Auctioneers, at their discretion, may place a reserve bid on behalf of the seller. All final bids are subject to the seller's confirmation. Only the top bidder will be contacted as to the status of his/her bid. While the information we provide on item(s) is deemed correct, no warranties are expressed or implied as to any items being sold, and you agree to purchase and accept the item in an as-is condition. Information on items is obtained by us from the sellers and you hereby agree to hold harmless Steffes Group and our Employees for any errors or omissions regarding the item(s) being sold. This information includes but is not limited to year, model, machine or engine hours, physical condition, options, features and other data pertinent to the value of the item. All items are sold As-Is-Where-Is unless specific factory or seller issued warranties are listed in the item description.

Inspection

You acknowledge that you have the right and responsibility to inspect the item(s) personally, or to have a third party representative inspect the item(s) for you. That by bidding on an item you have agreed to accept that item in its present condition at its present location and with the description provided whether accurate or not. 

Auction Close

Timed-online auctions will begin to close on the date and time listed. Lots will remain open until no bids have been placed within the last 4 minutes. Timed-online auctions normally close at a rate of 3 lots every 2 minutes.  

Please note that some lots can be tied together and will be set to close simultaneously.  This will be indicated in those lots by a paper clip symbol.  Please hover your mouse over the symbol to see what lots are tied together. The paper clip symbol means that each lot tied will stay in extension until there are no more bids on any of the lots that are tied.

         Steffes Group reserves the right to close multiple lots per minute at its discretion. Upon your accepted bid of an item, that item shall immediately become your responsibility and be at your risk (whether you have paid for that item or not). You agree that Steffes Group, its employees, and its sellers are not responsible for lost, stolen or damaged items and will not reimburse or discount items for any type of loss. Buyers are responsible for any costs incurred to prepare your item(s) for transport and/or shipping. This includes, but is not necessarily limited to, the cost of any rigging, dis-assembly, special loading requirements, transport, packaging, insurance, and all other costs related to physical transfer of your item(s). You agree to remit payment and remove from the auction property any purchases within the stated time for the auction being conducted. You further understand and agree that failure to remove items in the stated time for the auction will subject you to moving and storage fees unless arrangements have been made with the seller. 

Buyer Default

When using our online auction services you are making a firm commitment to purchase said item(s) and are entering into a legal and binding contract. Bids may not be cancelled or retracted for any reason. 

Non-paying bidders or fraudulent bidding will subject you to legal recourse and possible criminal charges including any fraud and/or interstate commerce violations. 

Internet Risk

You acknowledge that the internet may be an unreliable and error-prone network. Steffes Group will not guarantee that bids placed online will always be transmitted to or received by the auctioneer in a timely fashion. You agree to hold Steffes Group, Inc. and its employees harmless for any interruptions in online bidding. At the sole discretion of the Company, the auction may be suspended, postponed, or cancelled if internet service is unstable or disrupts the online portion of any event that is simulcast as an Internet Auction. 

Further, the auctioneer has the sole discretion to accept or refuse any bid. Steffes Group retains the right, at our sole discretion, to add, delete, or change some or all of our online services and the terms and conditions governing their online auctions at any time without notice. 

Abandonment Policy

Steffes Group provides this Abandonment Policy to inform you of our policies and procedures regarding any purchased item(s)/property that has not been removed by a buyer in a timely manner. Upon winning the bid for an item(s), after paying for item(s) purchased, a buyer is obligated to remove the item(s) from the auction site within a timely manner. 

Steffes Group may deem a buyer's failure to claim and remove equipment within 60 days following the close of an auction as evidence of buyer's intention to abandon the property. In these instances, the Company may take action that is adverse to buyer's interest in the property, including, but not limited to steps to dispose of the property. 

Disposition of property may include a variety of approaches based upon the buyer's purchase price of the property as follows: 

1) For those items with a final selling price of $5,000 or less, the Company will determine the appropriate disposition approach which may include:

• Removing and disposing as the Company sees fit.
• Allowing seller to retain or scrap.
• Sell the item(s), whereby the Company will remit the sales proceeds to the buyer, less selling and advertising expenses, storage costs, plus 20% administrative fee. 

2) For those items with a final selling price of greater than $5,000, Steffes Group may remove the item from the selling location and resolve as follows:

• The Company may reimburse the seller on the buyer's behalf for storage fees of $25 per day, with the total amount not to exceed $1,500.
• Sell the item(s), whereby the Company will remit the sales proceeds to the buyer, less selling and advertising expenses and storage costs, plus 20% administrative fee. 

If a buyer with the winning bid has not removed the purchased item(s) from selling location within 10 business days after the close of the auction, the buyer will be responsible for directly paying the seller any and all storage fees if levied by the seller. If levied by the seller, storage fees will be $25 per day beginning the 10th day after the close of the auction/winning bid.

TERMS:

All Bidders will be required to accept the terms and conditions of this auction to be approved to bid.

The 3 year lease agreements

will be posted online for review as soon as they are available.

Complete terms and conditions will be stated within the contracts.

Online Auction Terms & Registration Information

• All Tracts will be offered on an individual basis. The bidding on the tracts will be per tillable acre. The multiplier will be according to the FSA tillable acres on said tracts.
• The online auction will take place at www.steffesgroup.com.  Potential bidders will be required to register prior to the online auction.
• All tracts will be linked together. This means the tracts will be set to close simultaneously. This will be indicated on those tracts by a paper clip symbol. The paper clip symbol means that each tract linked together will stay in extension until no bids are placed on any of the linked tracts and the time has expired.
• When using our online auction services, you are making a firm commitment to rent said tract(s) and are entering into a legal and binding contract. Your bids may not be cancelled or retraced for any reason.
• The successful bidder(s) will be required to sign a Farm Cash Rent Agreement contract following the close of the auction with 100% of the first years rent due at signing.
• Rental contracts will be signed on Tuesday, March 20, 2018 following the auction on the farm located at 33748 W. US Highway 69, Bethany, MO 64424.
• Tenant’s rights will be immediately granted following the signing of contracts and payment is received.
• This online only auction is selling subject to seller confirmation of all tracts.

Special Provisions:

• The tillable land lease agreements are selling free and clear for the 2018 farming season.
• It shall be the obligation of the buyer(s) to report to the Harrison County, MO FSA office and show signed lease agreement(s) in order to receive the following if applicable:   A. Allotted base acres.  B. Any future government programs. 
• Buyer agrees to follow all requirements of conservation plans and practices required by the FSA to maintain eligibility in the Conservation Reserve Program. Buyer agrees to accept responsibility and liability for any actions by the buyer which would endanger eligibility for the CRP or actions that would require repayment of the CRP payment or payments. Buyer further agrees to indemnify and hold harmless the sellers for any recovery sought by the FSA due to actions of buyer, which would violate the requirements of the CRP.
• Buyer acknowledges that they will NOT receive any CRP payment(s) from any tracts of land being leased. 100% of CRP payments go to the landowner/seller.
• This auction sale is not contingent upon Buyer’s financing or any other buyer contingencies.
• The buyer(s) acknowledge that they have carefully and thoroughly inspected real estate and are familiar with the premises.
• The buyer(s) acknowledge that they are able to provide proof of liability and property damage insurance to the seller upon request.
• Steffes Group, Inc. is representing the Seller.

GENERAL TERMS AND CONDITIONS

• Any announcement made the day of the auction, take precedence over previously advertised information.
• The Terms & Conditions of Sale are set forth in the Bidder’s Packet. The information set forth is believed to be accurate. However, the owner(s) of the property and Steffes Group, Inc. make no warranties or guaranties express or implied. Information contained in this document was collected from sources deemed to be reliable and is true and correct to the best of the writer’s knowledge. Auctioneers and owners will not be held responsible for advertising discrepancies or inaccuracies. Prospective bidders are advised to consult with an attorney of their choice with respect to the rental of any real property including but not limited to, seeking legal advice from their own attorney regarding disclosures and disclaimers set forth below.

PROPERTY TO BE RENTED WITHOUT WARRANTY

All dimensions and descriptions are approximations only based upon the best information available and are subject to possible variation. Sketches may not be drawn to scale and photographs may not depict the current condition of the property. Bidders should inspect the property and also review all the pertinent documents and information available, as each bidder is responsible for evaluation of the property and shall not rely upon the Seller, Auctioneer, their Employees or Agents. The property will be rented AS IS and without any warranties or representations, express or implied.

OWNER’S PERFORMANCE

The Owner has agreed to the terms of this Cash Rent auction as published. However, Steffes Group, Inc. makes no warranties or guaranties as to the Owner’s performance.

SELLER’S INFORMATION

Claude Cox & Sons Farm, GlennDale Cox, Bryan Cox, & Ray Youngman – Sellers/ Landlords

Scott Summers – Attorney for the sellers

For more information contact Terry Hoenig of Steffes Group at 319.385.2000 or by cell at 319.470.7120

Terms & Conditions

By accepting the terms and conditions of this auction you acknowledge you are entering into a legal and binding contract. You agree to abide by all terms and conditions and you acknowledge receipt of all explanations and information made available by Steffes Group, Inc., also referred to as Steffes Group or Company. 

Payment

When paying within the stated time and with our acceptable payment methods: 

• A 10% buyer’s premium with a maximum charge of $1,000 per item applies to items purchased on Timed Online Auctions.
  
  
• A 2% buyer’s premium with a maximum charge of $500 per item applies to items purchased on Live Webcast Auctions.

You agree to make payment for all online purchases in U.S. funds within 2 business days of receipt of invoice by one of the acceptable forms of payment unless approval of financing arrangements is made with Steffes Group. To issue a check by fax, simply write a check as you normally would and fax a copy to us. All NSF checks will be charged a $30 fee. Checks by mail are not an accepted form of payment. Any other form of payment, other than the listed acceptable payment methods are subject to an additional 3% buyer's fee on the full amount of the purchase. No items will be released until full payment clears our office.

Acceptable forms of payment:

• Bank Wire Transfer; please call for wire instructions to be emailed to you.
• Check delivered to our office that held the auction

• Check By Phone

Mt. Pleasant, Ames 319-385-2000

West Fargo, Sioux Falls, Grand Forks 701-237-9173

Litchfield 320-693-9371

• Check By Fax

Mt. Pleasant, Ames 319-385-4709

West Fargo, Sioux Falls, Grand Forks 701-237-0976

Litchfield 320-693-9373

Sales Tax

All appropriate state sales tax laws will apply per the location and type of seller of the piece of equipment.

Please note that Minnesota does not consider regularly-scheduled consignment auctions as "auctions" but rather "consignment auctions," requiring sales tax to be charged unless the buyer provides an exemption form for qualifying items.

For purchases in South Dakota you are not exempt from any sales tax unless a 3^rd party transports your items and you take possession outside of the State of South Dakota. In that case, the state laws where you take possession are effective. There are exceptions for dealers (retailers).

Click on the following for a tax exempt form: Minnesota Tax Link    North Dakota Tax Link    Iowa Tax Link 

ND Dakota titled vehicles

Per North Dakota vehicle and sales tax laws, upon registration and licensing of any titled vehicle or trailer, any buyer’s premium paid is considered to be part of the sales price. Sales tax will be charged by the State of North Dakota on the entire sales price (including buyer’s premium) for any vehicle registered in North Dakota. 

If you have any questions concerning sales tax on a piece of equipment, please contact the appropriate state government agency at the location of the item on auction. 

ND Sales Tax Terms for Canadian Customers

 Used Farm Equipment

The sale, at auction, of used farm machinery to a Canadian farmer for agricultural use is exempt from sales tax the same as a North Dakota Farmer.

The purchase, at auction, of used farm machinery by a Canadian farm equipment dealer (retailer) would be sales taxable unless:

• You complete an exemption certificate with a ND sales tax permit number
• The purchased goods are shipped by a 3^rd party to you in Canada - in this case a delivery receipt must be provided to Steffes Group.

 New Farm Equipment

The sale, at auction, of new farm machinery to a Canadian farmer for agricultural use, or a Canadian farm equipment dealer (retailer) is taxable at the current state rate of 3% plus any local sales tax if applicable.  The law also provides that Canadians may apply for a refund of the tax paid when meeting certain requirements.  This form and conditions of use are available online at http://www.nd.gov/tax/salesand%20use/canrefund/. 

Agents for Sellers

Steffes Group, Inc. and its Employees act merely as agents for sellers. All auctions are with reserve unless specifically stated otherwise. Auctions are with undisclosed reserves unless advertised otherwise as "Absolute."  Auctioneers, at their discretion, may place a reserve bid on behalf of the seller. All final bids are subject to the seller's confirmation. Only the top bidder will be contacted as to the status of his/her bid. While the information we provide on item(s) is deemed correct, no warranties are expressed or implied as to any items being sold, and you agree to purchase and accept the item in an as-is condition. Information on items is obtained by us from the sellers and you hereby agree to hold harmless Steffes Group and our Employees for any errors or omissions regarding the item(s) being sold. This information includes but is not limited to year, model, machine or engine hours, physical condition, options, features and other data pertinent to the value of the item. All items are sold As-Is-Where-Is unless specific factory or seller issued warranties are listed in the item description.

Inspection

You acknowledge that you have the right and responsibility to inspect the item(s) personally, or to have a third party representative inspect the item(s) for you. That by bidding on an item you have agreed to accept that item in its present condition at its present location and with the description provided whether accurate or not. 

Auction Close

Timed-online auctions will begin to close on the date and time listed. Lots will remain open until no bids have been placed within the last 4 minutes. Timed-online auctions normally close at a rate of 3 lots every 2 minutes.  

Please note that some lots can be tied together and will be set to close simultaneously.  This will be indicated in those lots by a paper clip symbol.  Please hover your mouse over the symbol to see what lots are tied together. The paper clip symbol means that each lot tied will stay in extension until there are no more bids on any of the lots that are tied.

         Steffes Group reserves the right to close multiple lots per minute at its discretion. Upon your accepted bid of an item, that item shall immediately become your responsibility and be at your risk (whether you have paid for that item or not). You agree that Steffes Group, its employees, and its sellers are not responsible for lost, stolen or damaged items and will not reimburse or discount items for any type of loss. Buyers are responsible for any costs incurred to prepare your item(s) for transport and/or shipping. This includes, but is not necessarily limited to, the cost of any rigging, dis-assembly, special loading requirements, transport, packaging, insurance, and all other costs related to physical transfer of your item(s). You agree to remit payment and remove from the auction property any purchases within the stated time for the auction being conducted. You further understand and agree that failure to remove items in the stated time for the auction will subject you to moving and storage fees unless arrangements have been made with the seller. 

Buyer Default

When using our online auction services you are making a firm commitment to purchase said item(s) and are entering into a legal and binding contract. Bids may not be cancelled or retracted for any reason. 

Non-paying bidders or fraudulent bidding will subject you to legal recourse and possible criminal charges including any fraud and/or interstate commerce violations. 

Internet Risk

You acknowledge that the internet may be an unreliable and error-prone network. Steffes Group will not guarantee that bids placed online will always be transmitted to or received by the auctioneer in a timely fashion. You agree to hold Steffes Group, Inc. and its employees harmless for any interruptions in online bidding. At the sole discretion of the Company, the auction may be suspended, postponed, or cancelled if internet service is unstable or disrupts the online portion of any event that is simulcast as an Internet Auction. 

Further, the auctioneer has the sole discretion to accept or refuse any bid. Steffes Group retains the right, at our sole discretion, to add, delete, or change some or all of our online services and the terms and conditions governing their online auctions at any time without notice. 

Abandonment Policy

Steffes Group provides this Abandonment Policy to inform you of our policies and procedures regarding any purchased item(s)/property that has not been removed by a buyer in a timely manner. Upon winning the bid for an item(s), after paying for item(s) purchased, a buyer is obligated to remove the item(s) from the auction site within a timely manner. 

Steffes Group may deem a buyer's failure to claim and remove equipment within 60 days following the close of an auction as evidence of buyer's intention to abandon the property. In these instances, the Company may take action that is adverse to buyer's interest in the property, including, but not limited to steps to dispose of the property. 

Disposition of property may include a variety of approaches based upon the buyer's purchase price of the property as follows: 

1) For those items with a final selling price of $5,000 or less, the Company will determine the appropriate disposition approach which may include:

• Removing and disposing as the Company sees fit.
• Allowing seller to retain or scrap.
• Sell the item(s), whereby the Company will remit the sales proceeds to the buyer, less selling and advertising expenses, storage costs, plus 20% administrative fee. 

2) For those items with a final selling price of greater than $5,000, Steffes Group may remove the item from the selling location and resolve as follows:

• The Company may reimburse the seller on the buyer's behalf for storage fees of $25 per day, with the total amount not to exceed $1,500.
• Sell the item(s), whereby the Company will remit the sales proceeds to the buyer, less selling and advertising expenses and storage costs, plus 20% administrative fee. 

If a buyer with the winning bid has not removed the purchased item(s) from selling location within 10 business days after the close of the auction, the buyer will be responsible for directly paying the seller any and all storage fees if levied by the seller. If levied by the seller, storage fees will be $25 per day beginning the 10th day after the close of the auction/winning bid.

TERMS:

All Bidders will be required to accept the terms and conditions of this auction to be approved to bid.

The 3 year lease agreements

will be posted online for review as soon as they are available.

Complete terms and conditions will be stated within the contracts.

Online Auction Terms & Registration Information

• All Tracts will be offered on an individual basis. The bidding on the tracts will be per tillable acre. The multiplier will be according to the FSA tillable acres on said tracts.
• The online auction will take place at www.steffesgroup.com.  Potential bidders will be required to register prior to the online auction.
• All tracts will be linked together. This means the tracts will be set to close simultaneously. This will be indicated on those tracts by a paper clip symbol. The paper clip symbol means that each tract linked together will stay in extension until no bids are placed on any of the linked tracts and the time has expired.
• When using our online auction services, you are making a firm commitment to rent said tract(s) and are entering into a legal and binding contract. Your bids may not be cancelled or retraced for any reason.
• The successful bidder(s) will be required to sign a Farm Cash Rent Agreement contract following the close of the auction with 100% of the first years rent due at signing.
• Rental contracts will be signed on Tuesday, March 20, 2018 following the auction on the farm located at 33748 W. US Highway 69, Bethany, MO 64424.
• Tenant’s rights will be immediately granted following the signing of contracts and payment is received.
• This online only auction is selling subject to seller confirmation of all tracts.

Special Provisions:

• The tillable land lease agreements are selling free and clear for the 2018 farming season.
• It shall be the obligation of the buyer(s) to report to the Harrison County, MO FSA office and show signed lease agreement(s) in order to receive the following if applicable:   A. Allotted base acres.  B. Any future government programs. 
• Buyer agrees to follow all requirements of conservation plans and practices required by the FSA to maintain eligibility in the Conservation Reserve Program. Buyer agrees to accept responsibility and liability for any actions by the buyer which would endanger eligibility for the CRP or actions that would require repayment of the CRP payment or payments. Buyer further agrees to indemnify and hold harmless the sellers for any recovery sought by the FSA due to actions of buyer, which would violate the requirements of the CRP.
• Buyer acknowledges that they will NOT receive any CRP payment(s) from any tracts of land being leased. 100% of CRP payments go to the landowner/seller.
• This auction sale is not contingent upon Buyer’s financing or any other buyer contingencies.
• The buyer(s) acknowledge that they have carefully and thoroughly inspected real estate and are familiar with the premises.
• The buyer(s) acknowledge that they are able to provide proof of liability and property damage insurance to the seller upon request.
• Steffes Group, Inc. is representing the Seller.

GENERAL TERMS AND CONDITIONS

• Any announcement made the day of the auction, take precedence over previously advertised information.
• The Terms & Conditions of Sale are set forth in the Bidder’s Packet. The information set forth is believed to be accurate. However, the owner(s) of the property and Steffes Group, Inc. make no warranties or guaranties express or implied. Information contained in this document was collected from sources deemed to be reliable and is true and correct to the best of the writer’s knowledge. Auctioneers and owners will not be held responsible for advertising discrepancies or inaccuracies. Prospective bidders are advised to consult with an attorney of their choice with respect to the rental of any real property including but not limited to, seeking legal advice from their own attorney regarding disclosures and disclaimers set forth below.

PROPERTY TO BE RENTED WITHOUT WARRANTY

All dimensions and descriptions are approximations only based upon the best information available and are subject to possible variation. Sketches may not be drawn to scale and photographs may not depict the current condition of the property. Bidders should inspect the property and also review all the pertinent documents and information available, as each bidder is responsible for evaluation of the property and shall not rely upon the Seller, Auctioneer, their Employees or Agents. The property will be rented AS IS and without any warranties or representations, express or implied.

OWNER’S PERFORMANCE

The Owner has agreed to the terms of this Cash Rent auction as published. However, Steffes Group, Inc. makes no warranties or guaranties as to the Owner’s performance.

SELLER’S INFORMATION

Claude Cox & Sons Farm, GlennDale Cox, Bryan Cox, & Ray Youngman – Sellers/ Landlords

Scott Summers – Attorney for the sellers

For more information contact Terry Hoenig of Steffes Group at 319.385.2000 or by cell at 319.470.7120

Terms & Conditions

By accepting the terms and conditions of this auction you acknowledge you are entering into a legal and binding contract. You agree to abide by all terms and conditions and you acknowledge receipt of all explanations and information made available by Steffes Group, Inc., also referred to as Steffes Group or Company. 

Payment

When paying within the stated time and with our acceptable payment methods: 

• A 10% buyer’s premium with a maximum charge of $1,000 per item applies to items purchased on Timed Online Auctions.
  
  
• A 2% buyer’s premium with a maximum charge of $500 per item applies to items purchased on Live Webcast Auctions.

You agree to make payment for all online purchases in U.S. funds within 2 business days of receipt of invoice by one of the acceptable forms of payment unless approval of financing arrangements is made with Steffes Group. To issue a check by fax, simply write a check as you normally would and fax a copy to us. All NSF checks will be charged a $30 fee. Checks by mail are not an accepted form of payment. Any other form of payment, other than the listed acceptable payment methods are subject to an additional 3% buyer's fee on the full amount of the purchase. No items will be released until full payment clears our office.

Acceptable forms of payment:

• Bank Wire Transfer; please call for wire instructions to be emailed to you.
• Check delivered to our office that held the auction

• Check By Phone

Mt. Pleasant, Ames 319-385-2000

West Fargo, Sioux Falls, Grand Forks 701-237-9173

Litchfield 320-693-9371

• Check By Fax

Mt. Pleasant, Ames 319-385-4709

West Fargo, Sioux Falls, Grand Forks 701-237-0976

Litchfield 320-693-9373

Sales Tax

All appropriate state sales tax laws will apply per the location and type of seller of the piece of equipment.

Please note that Minnesota does not consider regularly-scheduled consignment auctions as "auctions" but rather "consignment auctions," requiring sales tax to be charged unless the buyer provides an exemption form for qualifying items.

For purchases in South Dakota you are not exempt from any sales tax unless a 3^rd party transports your items and you take possession outside of the State of South Dakota. In that case, the state laws where you take possession are effective. There are exceptions for dealers (retailers).

Click on the following for a tax exempt form: Minnesota Tax Link    North Dakota Tax Link    Iowa Tax Link 

ND Dakota titled vehicles

Per North Dakota vehicle and sales tax laws, upon registration and licensing of any titled vehicle or trailer, any buyer’s premium paid is considered to be part of the sales price. Sales tax will be charged by the State of North Dakota on the entire sales price (including buyer’s premium) for any vehicle registered in North Dakota. 

If you have any questions concerning sales tax on a piece of equipment, please contact the appropriate state government agency at the location of the item on auction. 

ND Sales Tax Terms for Canadian Customers

 Used Farm Equipment

The sale, at auction, of used farm machinery to a Canadian farmer for agricultural use is exempt from sales tax the same as a North Dakota Farmer.

The purchase, at auction, of used farm machinery by a Canadian farm equipment dealer (retailer) would be sales taxable unless:

• You complete an exemption certificate with a ND sales tax permit number
• The purchased goods are shipped by a 3^rd party to you in Canada - in this case a delivery receipt must be provided to Steffes Group.

 New Farm Equipment

The sale, at auction, of new farm machinery to a Canadian farmer for agricultural use, or a Canadian farm equipment dealer (retailer) is taxable at the current state rate of 3% plus any local sales tax if applicable.  The law also provides that Canadians may apply for a refund of the tax paid when meeting certain requirements.  This form and conditions of use are available online at http://www.nd.gov/tax/salesand%20use/canrefund/. 

Agents for Sellers

Steffes Group, Inc. and its Employees act merely as agents for sellers. All auctions are with reserve unless specifically stated otherwise. Auctions are with undisclosed reserves unless advertised otherwise as "Absolute."  Auctioneers, at their discretion, may place a reserve bid on behalf of the seller. All final bids are subject to the seller's confirmation. Only the top bidder will be contacted as to the status of his/her bid. While the information we provide on item(s) is deemed correct, no warranties are expressed or implied as to any items being sold, and you agree to purchase and accept the item in an as-is condition. Information on items is obtained by us from the sellers and you hereby agree to hold harmless Steffes Group and our Employees for any errors or omissions regarding the item(s) being sold. This information includes but is not limited to year, model, machine or engine hours, physical condition, options, features and other data pertinent to the value of the item. All items are sold As-Is-Where-Is unless specific factory or seller issued warranties are listed in the item description.

Inspection

You acknowledge that you have the right and responsibility to inspect the item(s) personally, or to have a third party representative inspect the item(s) for you. That by bidding on an item you have agreed to accept that item in its present condition at its present location and with the description provided whether accurate or not. 

Auction Close

Timed-online auctions will begin to close on the date and time listed. Lots will remain open until no bids have been placed within the last 4 minutes. Timed-online auctions normally close at a rate of 3 lots every 2 minutes.  

Please note that some lots can be tied together and will be set to close simultaneously.  This will be indicated in those lots by a paper clip symbol.  Please hover your mouse over the symbol to see what lots are tied together. The paper clip symbol means that each lot tied will stay in extension until there are no more bids on any of the lots that are tied.

         Steffes Group reserves the right to close multiple lots per minute at its discretion. Upon your accepted bid of an item, that item shall immediately become your responsibility and be at your risk (whether you have paid for that item or not). You agree that Steffes Group, its employees, and its sellers are not responsible for lost, stolen or damaged items and will not reimburse or discount items for any type of loss. Buyers are responsible for any costs incurred to prepare your item(s) for transport and/or shipping. This includes, but is not necessarily limited to, the cost of any rigging, dis-assembly, special loading requirements, transport, packaging, insurance, and all other costs related to physical transfer of your item(s). You agree to remit payment and remove from the auction property any purchases within the stated time for the auction being conducted. You further understand and agree that failure to remove items in the stated time for the auction will subject you to moving and storage fees unless arrangements have been made with the seller. 

Buyer Default

When using our online auction services you are making a firm commitment to purchase said item(s) and are entering into a legal and binding contract. Bids may not be cancelled or retracted for any reason. 

Non-paying bidders or fraudulent bidding will subject you to legal recourse and possible criminal charges including any fraud and/or interstate commerce violations. 

Internet Risk

You acknowledge that the internet may be an unreliable and error-prone network. Steffes Group will not guarantee that bids placed online will always be transmitted to or received by the auctioneer in a timely fashion. You agree to hold Steffes Group, Inc. and its employees harmless for any interruptions in online bidding. At the sole discretion of the Company, the auction may be suspended, postponed, or cancelled if internet service is unstable or disrupts the online portion of any event that is simulcast as an Internet Auction. 

Further, the auctioneer has the sole discretion to accept or refuse any bid. Steffes Group retains the right, at our sole discretion, to add, delete, or change some or all of our online services and the terms and conditions governing their online auctions at any time without notice. 

Abandonment Policy

Steffes Group provides this Abandonment Policy to inform you of our policies and procedures regarding any purchased item(s)/property that has not been removed by a buyer in a timely manner. Upon winning the bid for an item(s), after paying for item(s) purchased, a buyer is obligated to remove the item(s) from the auction site within a timely manner. 

Steffes Group may deem a buyer's failure to claim and remove equipment within 60 days following the close of an auction as evidence of buyer's intention to abandon the property. In these instances, the Company may take action that is adverse to buyer's interest in the property, including, but not limited to steps to dispose of the property. 

Disposition of property may include a variety of approaches based upon the buyer's purchase price of the property as follows: 

1) For those items with a final selling price of $5,000 or less, the Company will determine the appropriate disposition approach which may include:

• Removing and disposing as the Company sees fit.
• Allowing seller to retain or scrap.
• Sell the item(s), whereby the Company will remit the sales proceeds to the buyer, less selling and advertising expenses, storage costs, plus 20% administrative fee. 

2) For those items with a final selling price of greater than $5,000, Steffes Group may remove the item from the selling location and resolve as follows:

• The Company may reimburse the seller on the buyer's behalf for storage fees of $25 per day, with the total amount not to exceed $1,500.
• Sell the item(s), whereby the Company will remit the sales proceeds to the buyer, less selling and advertising expenses and storage costs, plus 20% administrative fee. 

If a buyer with the winning bid has not removed the purchased item(s) from selling location within 10 business days after the close of the auction, the buyer will be responsible for directly paying the seller any and all storage fees if levied by the seller. If levied by the seller, storage fees will be $25 per day beginning the 10th day after the close of the auction/winning bid.