Appanoose County Land Auction
145.58 Acres M/L
Tuesday, June 2, 2020
5:00 PM

Auction Location:
Appanoose County Club
1998 Country Club Road
Centerville, Iowa 52544

Seller: Nancy R. Hoffman Trust
Successor Trustee: John A. Pabst, Attorney at Law

Important information regarding COVID-19:
Auction will be held on location in a format that satisfies the guidelines and restrictions set forth by the Governor on auction day. In an effort to encourage social distancing and to accommodate those seeking to stay home, the auction will also be available on our Peoples Company online and mobile bidding app and via telephone bidding. Please visit PeoplesCompany.com or contact the listing agents prior to the auction for any updates.

Auction Method: Tracts 1, 2 and 3 will be sold on a price per acre basis and will be offered in individual tracts. These three tracts will not be offered in their entirety at the conclusion of the auction.

Farm Program Information: Farm Program Information is provided by the Appanoose County Farm Service Agencies. The figures stated in the marketing material are the best estimates of the Seller and Peoples Company; however, Farm Program Information, base acres, total crop acres, conservation plan, etc. are subject to change when the farms are reconstituted by the Appanoose County FSA and NRCS offices.

Earnest Money Payment: A 10% earnest money payment is required on the day of the auction. The earnest money payment may be paid in the form of cash or check. All funds will be held in the Pabst Law Firm Trust Account.

Closing: Closing will occur on or before Tuesday, June 30, 2020. The balance of the purchase price will be payable at closing in the form of cash, certified check, or wire transfer. Closing will be handled by Pabst Law Firm, Albia, IA.

Possession: Full possession of the farm will be given at closing.

Farm Lease: There are not any current leases in place for 2020.

Contract & Title: Immediately upon conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Pabst Law Firm the required earnest money payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon Buyer obtaining financing after the auction is over. All financial arrangements are to have been made prior to bidding at the auction. Title to these tracts will transfer via Court Officers Deed.

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number in order to bid at the auction.

Fences: Existing fences, if any, are in as-is condition and will not be updated. No new will be installed by the Sellers. All current and any future fences and fence lines shall be governed by the Appanoose County and State of Iowa fence line rules and regulations.

Additional Tract Information:
Tract 1: Will be sold as 75.03 acres m/l. A survey has been performed to separate the 10 acres m/l owned by others located off of the south east corner of this tract. There is no current fence separating these tracts. Survey stakes have been installed at the corners to identify the property lines. No additional staking will be done by the sellers. New owner of Tract 1 will be responsible for installation of their half of any new fences, if needed.
Tract 2: Will be sold as 40.55 acres m/l. The barn will be sold in as-is condition and will not be repaired or updated by the seller.
Tract 3: Will be sold as 30 acres m/l and as outlined in the marketing material. These acres do not include the abandoned Chicago, Rock Island and Pacific Railway Company right-of-way located on the north side of Tract 3. Seller will convey any rights to ownership of the abandoned railroad right-of-way acres via Quit Claim Deed to the successful buyer of Tract 3. There is no guarantee to the true ownership of this abandoned railroad right-of-way. New owner of Tract 3 may have claim to this abandoned railroad right-of-way and it will be at their expense to pursue legal ownership of this land.

Other: The sale of these tracts is subject to all easements, covenants, leases, and restrictions of record. All property is sold on an “As is – Where is” basis with no warranties, expressed or implied, made by the Auctioneer, Peoples Company, or Seller. All bids will be on a per acre basis. Peoples Company and its representatives are agents of the Seller. Winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made auction day by the Auctioneer or Listing Agents will take precedence over all previous marketing material or oral statements. Bidding increments are at the sole discretion of the Auctioneer. No absentee or phone bids will be accepted at the auction without prior approval of the Auctioneer. All decisions of the Auctioneer are final.

Disclaimer: All field boundaries are presumed to be accurate according to the best available information and knowledge of the Seller and Peoples Company. Overall tract acres, tillable acres, etc. may vary from figures stated within the marketing material. Buyer should perform his/her own investigation of the property prior to bidding at the auction. The brief legal descriptions in the marketing material should not be used in legal documents. Full legal descriptions will be taken from abstract. If a site clean-up is required on any of the tracts, it shall be at the expense of the Buyer(s) of each tract.