Buyer’s Premium: A five percent (5%) Buyer’s Premium will be added to the final bid price and included in the total purchase price.

Auction Method: The property will be offered in three (3) individual tracts . All tracts will sell ‘Absolute’ to the highest bidder(s) the day of the auction.

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

Agency: Peoples Company and its representatives are agents of the Seller. Winning bidder(s) acknowledge they are representing themselves in completing the auction sales transaction.

Farm Program Information: Farm Program Information is provided by the Lyon 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 Lyon County FSA and NRCS offices.

Earnest Money Payment: A 10% earnest money payment is required on the day of the auction for each tract. The earnest money payment may be paid in the form of cash or good check. All funds will be held in the Lyon County Abstract and Title Trust Account.

Contract & Title Commitment: Immediately upon conclusion of the auction, the high bidder(s) will enter into a Real Estate Purchase Contract and deposit with Peoples Company the required earnest money payment. The Seller will furnish the successful Buyer(s) a current Title Commitment and Owner’s Policy in the amount equal to the Total Purchase Price. Seller agrees to convey merchantable title to the property. All title insurance premiums, title or abstracting fees and the title company/closing agent fees or costs shall be paid by the Seller. Sale of this land is not contingent upon Buyer obtaining financing. All financial arrangements are to have been made prior to bidding at the auction. By bidding, the bidder makes a representation that the bidder has the present ability to pay the bid price and fulfill the Real Estate Purchase Contract.

Closing: Closing will occur on or about September 30, 2022 at a location to be designated by the Seller. The balance of the purchase price will be payable at closing in the form of cash, certified check or wire transfer.  With respect to the timing of the Seller and successful Buyer(s) in fulfilling its obligations under the Real Estate Purchase Contract, time is of the essence.

Real Estate Taxes: The real estate taxes for 2022 will be paid by the sellers

Mineral Rights: All mineral rights of record will be conveyed to the new Buyer(s).

Possession:  Full possession of the land will be given at closing, subject to the current tenants rights.

Fences: Existing fences, if any, are in as-is condition and will not be updated or replaced by the sellers. Not all tract and boundary lines are fenced and if needed, will be the responsibility of the Buyer at closing. Existing fence lines may not fall directly on the legal boundary.

Survey: Preliminary survey work will be performed prior to the auction to determine the actual acres of tract 1 and actual acres of tract 2. This is due to the property line separating these tracts is not in relationship with the section line. A copy of the completed survey will be available by request. No survey will be performed for tract 3.

Property Inspection: Each potential bidder is responsible for conducting, at their own risk, the independent inspections, investigations, inquiries and due diligence concerning the property. Inspection dates have been scheduled and will be staffed with Peoples Company agents and/or auctioneers. Each potential bidder shall be liable for any property damage caused by any such inspections or investigations.

Disclaimer: All field boundaries in this brochure and any marketing material are just sketches and are presumed to be accurate according to the best available information and knowledge of the Seller and Peoples Company. Overall tract acres, pasture acres, hay ground acres, etc. may vary from figures stated in the marketing material and will be subject to change.  Buyer(s) and his/her tax and legal advisors should perform their 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 title paperwork.

Other:  This sale is subject to all easements, covenants, leases, and restrictions of record. All property is sold on an “As is – Where is” basis with no warranties or guarantees, expressed or implied, made by the Auctioneer, Peoples Company, or the Seller. No warranty, either expressed or implied, or arising by operation of law concerning the property is made by the Seller or the Auctioneers and are hereby expressly disclaimed. 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.