SELLER
James W. Barr Revocable Trust - Carolyn Krone & Margaret Eicher - Co-Trustees
Charlotte A. Barr Revocable Trust - Margaret Eicher - Trustee
Alecia A. Cederdahl of Whitfield & Eddy, P.L.C. - Closing Attorney

AUCTION INFORMATION

288.95± Acres – Sells in 3 Tracts

Tract 1 – 78.80± Surveyed Acres

•        FSA indicates: 71.44 cropland acres.
•        CSR2 is 66 on the cropland acres.
•        Located in Section 11, Cedar Township, Lee County, Iowa.
•        Tax Parcels: 020101114000040, 020101114000070, 020101114000060 = $2,752.00 Approx. Net
•        View Tract 1 - FSA 156 EZ Form & Field Map
•        View Tract 1 - Soil Map
•        View Tract 1 - Survey Overlay & Plat

Tract 2 – 77± Acres -  subject to final survey

•        Approx. 74 cropland acres.
•        CSR2 is 73.8 on the cropland acres.
•        Located in Section 25, Harrisburg Township, Van Buren County, Iowa.
•        Tax Parcels: 000220825300100, 000220825300300 = $1,792.00 Approx. Net
•        View Tract 2 & 3 - FSA 156 EZ Form & Field Map
•        View Tract 2 - Soil Map

Tract 3 – 137.32± Acres -  subject to final survey

•        Approx. 90 cropland acres.
•        CSR2 is 57.1 on the cropland acres.
•        Balance of land is timber.
•        Located in Sections 25 & 26, Harrisburg Township, Van Buren County, Iowa.
•        Tax Parcels: 000220825100110, 000220825100300, 000220826200300, 000220826200400 = $2,188.00 Approx. Net
•        View Tract 2 & 3 - FSA 156 EZ Form & Field Map
•        View Tract 3 - Soil Map

Terms: 10% down payment due on September 9, 2025. Balance due at final settlement/closing with a projected date of October 24, 2025, upon delivery of merchantable abstract and deed and all objections having been met.
Landlord’s Possession: Projected date of October 24, 2025. Selling subject to tenant’s rights on the tillable land for the 2025-2026 farming season, full possession March 1, 2026.
Real Estate Taxes: To be prorated to date of the landlord’s possession on the basis of the last available tax statement. Seller shall pay any unpaid real estate taxes payable in prior years.

Special Provisions:

•        This online auction is a NO BUYER'S PREMIUM OR BUYER FEE auction.
•        Tracts will be tied together with the bidding set to close simultaneously.  Bid placed within the last 4 minutes of the auction will extend the auction an additional 4 minutes.  Bid extensions continue and auction does not end until there are no bids for 4 minutes on any of the Tracts that are tied 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, or in person at the Mt. Pleasant, IA Office.  In the event the auction bidding closes after 3:00pm, the down payment/earnest money will be due the following business day.
•        Tracts 1, 2 & 3 are selling subject to tenant’s rights on the tillable land for the 2025-2026 farming season (March 1, 2025 - February 28, 2026).
•        Seller will retain 100% of the 2025 rent payment.
•        It shall be the Seller’s responsibility to give the tenant notice of termination of the farm tenancy prior to September 1, 2025, therefore all tracts will be selling free and clear for the 2026 farming season.
•        It shall be the obligation of the Buyer to report to the appropriate 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. Final tillable acres to be determined by the FSA office, as tract lines overlap field lines.
•        Tracts 1, 2 & 3 will be surveyed by a licensed surveyor, at Seller’s expense. Tracts 1, 2 & 3 will be sold on a per acre basis with gross surveyed acres being the multiplier used to determine the total bid amount. 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 final settlement/closing.
•        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 (Spouses constitute one Buyer).
•        This auction sale is not contingent upon Buyer’s financing, appraisal(s), 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 and paid to Seller.
•        The Buyer shall be responsible for any fencing in accordance with state law.
•        The Buyer shall be responsible for installing 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, easements, rights-of-way, ordinances, resolutions, leases, and mineral reservations, 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. Bidder/Buyer acknowledges they are representing themselves in this real estate transaction.
•        Any announcements published or made the day of auction take precedence over advertising.