Please note upon accepting these terms & conditions, a representative from Steffes Group will contact you via a phone call for final approval, during normal business hours.
Tracts 1 & 2 - Bidding will be price per acre, with GROSS SURVEYED acres being the multiplier used to determine the total bid amount.
Tract 3 - Bidding will be lump sum price.
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. By entering into this Agreement Purchaser hereby certifies that Purchaser is at least 18 years old and under no legal limitations with respect to Purchaser’s ability to enter into binding contracts.
ACCEPTANCE
Purchaser’s registration as a bidder shall act as your acceptance to all terms and conditions of this Agreement. Steffes is under no obligation to provide Purchaser with notice that Purchaser’s registration has been accepted in order to bind Purchaser to the terms and conditions of this Agreement.
Terms: 10% down payment on November 5, 2024. Tracts 1 & 2 - Balance due at final settlement with a projected date of December 20, 2024, upon delivery of merchantable abstract and deed and all objections having been met.
Tract 3 - Balance due at final settlement with a projected date of March 3, 2025, upon delivery of merchantable abstract and deed and all objections having been met.
Possession: Tracts 1 & 2 - Projected date of December 20, 2024. (Subject to tenant's rights until March 1, 2025)
Tract 3 - Projected date of March 3, 2025.
Special Provisions:
· This real estate auction will have a 5% buyer’s premium. This means the buyer’s premium in the amount of five percent (5%) of the bid amount shall be charged to the Buyer and added to the bid amount to arrive at the total contract purchase price.
· Tracts will be linked together with the bidding set to close simultaneously. If a bid is placed with less than 4 minutes left, the time on all the tracts linked together will extend another 4 minutes. This will continue until no bids are placed within the last 4 minutes. Each Tract will stay in bidding extension until there are no more bids placed on any of the Tracts that are linked together.
· Down payment is due on the day the bidding closes and signing of the real estate contracts will take place through email and electronic document signatures. In the event the auction bidding closes after 3:00pm, the down payment/earnest money will be due the following business day.
· Seller has served termination to the tenant, therefore the land will be selling free and clear for the 2025 farming season.
· It shall be the obligation of the Buyer to report to the Fayette County FSA office and show filed deed in order to receive the following if applicable: A. Allotted base acres. B. Any future government programs. C. CRP Prorate. D. Final tillable acres to be determined by the FSA office, as FSA field lines overlap Tract lines.
· 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.
· All Tracts will be surveyed by a licensed surveyor, at Seller’s expense. Tract 1 & 2 will be sold by the acre with gross surveyed acres being the multiplier used to determine the total bid amount. Tract 3 will be sold lump sum price. In the event the final survey is not completed by auction day or if the recorded survey is different than the announced gross surveyed acres, adjustments to the final contract price will be made accordingly at closing only on Tracts 1 & 2, where the gross surveyed acres were used for the multiplier. No adjustments will be made to Tract 3, as it is selling lump sum price.
· This real estate auction is selling subject to final approval of the survey and subdivision requirements of the county, if required.
· If one Buyer purchases more than one tract, the Seller shall only be obligated to furnish one abstract and deed (husband & wife constitute one Buyer).
· Tract 3, due to this being a Trust, the Seller will be exempt from Time of Transfer Inspection of the septic, according to Iowa Code 455B.172(11). Any future inspections, upgrades, repairs, maintenance, or other matters to the septic system will be at the Buyer's expense in accordance with County & Iowa Laws & regulations.
· This auction sale is not contingent upon Buyer’s financing or any other Buyer contingencies.
· If a Buyer is unable to close due to insufficient funds or otherwise, Buyer will be in default and the deposit money will be forfeited.
· The Buyer shall be responsible for any fencing in accordance with state law.
· The Buyer shall be responsible for installing his/her own entrances if needed or desired.
· If in the future a site clean-up is required, it shall be at the expense of the Buyer.
· All mineral rights, if any, held by Seller will be transferred to Buyer upon closing.
· This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.
· All lines, drawings, boundaries, 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 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, Broker or Auctioneer, their Employees or Agents.
· The Buyer acknowledges that they have carefully and thoroughly inspected the real estate and are familiar with the premises. The Buyer is buying this real estate in its "as is" condition and there are no expressed or implied warranties pertaining to the real estate.
· Steffes Group, Inc. is representing the Seller.
· Any announcements made or published the day of auction take precedence over advertising.
AGENTS FOR SELLER
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.
PAYMENT
When paying within the stated time and with our acceptable payment methods:
· A 5% buyer’s premium applies to items purchased on this Timed Online Auction.
Acceptable forms of payment:
Purchaser agrees that Purchaser shall pay for all costs and expenses incurred by Steffes in connection with enforcing the terms of this Agreement, including collecting all sums owed by Purchaser, including actual fees charged by a collection agency, attorney fees and any other charges allowed by applicable statute whether or not a lawsuit has been initiated. Steffes, in its sole discretion, will choose venue of a lawsuit in any county where Steffes has a location or place of business and Purchaser agrees to the same. Also, by entering into this agreement, you and Steffes each are waiving the right to a trial by jury.
USER ACCOUNT
Your account on the Services (your "User Account") gives you access to the services and functionality that Steffes may establish and maintain from time to time and in our sole discretion. For example, User Account holders can, subject to all of the terms and conditions of this Agreement, including the restrictions:
We may maintain different types of User Accounts for different types of Users. If you open a User Account on behalf of a company, organization, or other entity, then (i) "you" includes you and that entity, (ii) you represent and warrant that you are an authorized representative of the entity with the authority to bind the entity to this Agreement, and (iii) you agree to this Agreement on the entity's behalf.
You may never use another User's User Account without permission. When creating your User Account, you must provide accurate and complete profile information, and you must keep this information current. You are solely responsible for the activity that occurs on your User Account, and you must keep your User Account password secure. We encourage you to use "strong" passwords (passwords that use a combination of upper and lowercase letters, numbers and symbols) with your User Account. You must notify us immediately in writing of any breach of security or unauthorized use of your User Account. We will not be liable for any losses caused by any unauthorized use of your User Account.
You may control your User profile and how you interact with the Services by changing the settings in your settings page. By providing us your email address you agree to our using the email address to send you Service-related notices, including any notices required by law, in lieu of communication by postal mail. Where the law permits, we may also use your email address to send you other messages, such as changes to features of the Services and special offers. If you do not want to receive such email messages, you may opt out or change your preferences in your settings page. Opting out may prevent you from receiving email messages regarding improvements, auctions, equipment, events and offers; however, opting out will not prevent you from receiving Services-related notices.
You acknowledge that you do not own the User Account you use to access the Services. Notwithstanding anything in this Agreement to the contrary, you agree that we have the absolute right to manage, regulate, control, modify and/or eliminate any data stored by us or on our behalf on our (including on our third party hosting providers') servers as we see fit in our sole discretion, in any general or specific case, and that we will have no liability to you based on our exercise of such right. All data on our servers are subject to deletion, alteration or transfer. NOTWITHSTANDING ANY VALUE ATTRIBUTED TO SUCH DATA BY YOU OR ANY THIRD PARTY, YOU UNDERSTAND AND AGREE THAT ANY DATA, USER ACCOUNT HISTORY AND CONTENT AND USER AND SYSTEM DATA (DEFINED BELOW) RESIDING ON OUR SERVERS, MAY BE DELETED, ALTERED, MOVED OR TRANSFERRED AT ANY TIME FOR ANY REASON IN OUR SOLE DISCRETION, WITH OR WITHOUT NOTICE AND WITH NO LIABILITY OF ANY KIND. WE DO NOT PROVIDE OR GUARANTEE, AND EXPRESSLY DISCLAIM, ANY VALUE, CASH OR OTHERWISE, ATTRIBUTED TO ANY DATA RESIDING ON OUR SERVERS.
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.
NO WARRANTIES – Real Estate & Equipment sells “As Is, Where Is”
No warranties are expressed or implied as to any items being sold. ANY IMPLIED WARRANTIES BY STATUTE OR COMMON LAW ARE HEREBY EXPRESSLY WAIVED. 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.
Purchaser agrees and acknowledges that any photographs or images with respect to auction goods may not accurately depict the true condition of the real estate, machinery or equipment.
AUCTION CLOSE (TIMED-ONLINE AUCTIONS)
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.
DISPUTE BETWEEN BIDDERS
The auctioneer shall designate the Purchaser after each item of merchandise is auctioned. If a dispute arises between two or more bidders, the Auctioneer reserves the right to re-open bidding. The Auctioneers’ designation of a buyer shall be final.
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. Purchaser shall be responsible for all attorney’s fees and costs incurred by Steffes in the event a buyer default.
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.
INJURY OR DAMAGE
Bidder acknowledges responsibility for any personal injury or property damage caused by bidder or his Agent, and further agrees to hold Auctioneers, Owners, its Officers, or Employees harmless for any personal injury to himself or his Agents and any personal damage incurred on auction premises.
INDEMNITY
Purchaser agrees to defend, indemnify and hold Steffes and our affiliates, agents, suppliers or licensors (and our and their employees, contractors, agents, officers and directors) harmless from and against any and all claims, damages, obligations, losses, liabilities, costs or debt, and expenses (including but not limited to attorney's fees) arising from or related to: (i) your use of and access to the Services, including any data or content transmitted or received by you; (ii) your violation of any term of this Agreement, including without limitation any of the representations and warranties above; (iii) your violation of any third-party right, including without limitation any right of privacy or intellectual property rights; (iv) your violation of any applicable law, rule or regulation; (v) your use of the Services or Auction Data in any manner not expressly authorized by this Agreement, including your breach of any of the restrictions applying to your use of the Services or Auction Data as set forth in Section 1.3 or 2 above, respectively; (vi) your gross negligence or willful misconduct; or (vii) any third party's access and use of the Services with your unique username, password or other appropriate security code.
LIMITATION OF LIABILITY
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL STEFFES OR OUR AFFILIATES, AGENTS, SUPPLIERS OR LICENSORS (OR OUR OR THEIR EMPLOYEES, CONTRACTORS, AGENTS, OFFICERS OR DIRECTORS), BE LIABLE FOR ANY INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES, INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA OR OTHER INTANGIBLE LOSSES, ARISING OUT OF OR RELATING TO THE USE OF, OR INABILITY TO USE, THE SERVICES. UNDER NO CIRCUMSTANCES WILL WE BE RESPONSIBLE FOR ANY DAMAGE, LOSS OR INJURY RESULTING FROM HACKING, TAMPERING OR OTHER UNAUTHORIZED ACCESS OR USE OF THE SERVICES OR YOUR ACCOUNT OR THE INFORMATION CONTAINED THEREIN.
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, WE ASSUME NO LIABILITY OR RESPONSIBILITY FOR ANY (I) ERRORS, MISTAKES, OR INACCURACIES OF CONTENT; (II) PERSONAL INJURY OR PROPERTY DAMAGE, OF ANY NATURE WHATSOEVER, RESULTING FROM YOUR ACCESS TO OR USE OF THE SERVICES; (III) ANY UNAUTHORIZED ACCESS TO OR USE OF OUR SECURE SERVERS AND/OR ANY AND ALL PERSONAL INFORMATION STORED THEREIN; (IV) ANY INTERRUPTION OR CESSATION OF TRANSMISSION TO OR FROM THE SERVICES; (V) ANY BUGS, VIRUSES, TROJAN HORSES, OR THE LIKE THAT MAY BE TRANSMITTED TO OR THROUGH THE SERVICES BY ANY THIRD PARTY; (VI) ANY ERRORS OR OMISSIONS IN ANY CONTENT OR FOR ANY LOSS OR DAMAGE INCURRED AS A RESULT OF THE USE OF ANY CONTENT POSTED, EMAILED, TRANSMITTED, OR OTHERWISE MADE AVAILABLE THROUGH THE SERVICES; AND/OR (VII) USER DATA OR THE DEFAMATORY, OFFENSIVE OR ILLEGAL CONDUCT OF ANY THIRD PARTY.
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL WE OR OUR AFFILIATES, AGENTS, SUPPLIERS OR LICENSORS (OR OUR OR THEIR EMPLOYEES, CONTRACTORS, AGENTS, OFFICERS OR DIRECTORS) BE LIABLE TO YOU FOR ANY CLAIMS, PROCEEDINGS, LIABILITIES, OBLIGATIONS, DAMAGES, LOSSES OR COSTS IN AN AMOUNT EXCEEDING THE GREATER OF THE AMOUNTS YOU PAID TO STEFFES FOR ITS SERVICES OR USD 50.00.
THIS LIMITATION OF LIABILITY SECTION APPLIES WHETHER THE ALLEGED LIABILITY IS BASED ON CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY OR ANY OTHER BASIS, EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGE.
SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATIONS OR EXCLUSIONS MAY NOT APPLY TO YOU. THIS AGREEMENT GIVES YOU SPECIFIC LEGAL RIGHTS, AND YOU MAY ALSO HAVE OTHER RIGHTS WHICH VARY FROM JURISDICTION TO JURISDICTION. THE DISCLAIMERS, EXCLUSIONS, AND LIMITATIONS OF LIABILITY UNDER THIS AGREEMENT WILL NOT APPLY TO THE EXTENT PROHIBITED BY APPLICABLE LAW.
SECURITY
Steffes cares about the integrity and security of the information we handle. We have implemented and follow an information security policy, including physical, managerial and technical safeguards deemed appropriate by us in our sole direction, designed to preserve the integrity and security of that information. However, we cannot guarantee that unauthorized third parties will never be able to defeat our security measures or use your information for improper purposes. You acknowledge that you provide your information at your own risk.
RESTRICTIONS
You will not, and you will not assist, permit or enable others to, do any of the following:
(b) disassemble, reverse engineer, decode or decompile any part of the Services, including, without limitation, the online bidding engine and algorithmic pricing tools;
(c) use any robot, spider, scraper, data mining tool, data gathering or extraction tool, or any other automated means, to access, collect, copy or record the Services;
(g) use the Services in a manner that impacts (i) the stability of our servers, (ii) the operation or performance of the Services or any other User's use of the Services, or (iii) the behavior of other applications using the Services;
(j) use the Services for benchmarking or competitive analysis of the Services;
(n) share passwords or authentication credentials for the Services;
(r) engage in any form of shill bidding, including collusion, bid manipulation and bidding on items that you, or a party affiliated with you, are selling in an auction.
