Rock County Land Auction
430± Acres - Four Tracts
Tuesday, March 14th, 2023
10:00 A.M. Central

Auction Location:
Albany Lions Club
402 North Cincinnati Street
Albany, Wisconsin 53502

Title Company:
Green County Title & Abstract, Inc.
1720 10th Street, Suite 1
Monroe, WI 53566

Auctioneer & License Number: Jesse Meyer No. 2652-52

Online Bidding: Register to bid at http://peoplescompany.bidwrangler.com/. Potential bidders may have access to the live auction by utilizing Peoples Company's online auction platform via the Internet. By using Peoples Company's online auction platform, bidders acknowledge that the Internet is known to be unpredictable in performance and may, from time to time, impede access, become inoperative, or provide slow connection to the online auction platform. Bidders agree that Peoples Company nor its affiliates, members, officers, shareholders, agents, or contractors are, in any way, responsible for any interference or connectivity issues the bidder may experience when utilizing the online auction platform.

Tract 1: This tract will be sold on a price per acre basis based on 88.20± Acres. A survey for Tract One has been ordered and will be completed prior to closing. The final purchase price will be determined by the exact surveyed acres. 

Tract 2: This tract will be sold on a price per acre basis based on 61.43± Acres. A survey for Tract Two has been ordered and will be completed prior to closing. The final purchase price will be determined by the exact surveyed acres. 

Tract 3: This tract will be sold on a price per acre basis based on 154.37± taxable acres. A survey will not be completed on this tract and the final purchase price will be based on 154.37 taxable acres, regardless of the amount of actual acreage. 

Tract 4: This tract will be sold on a price per acre basis based on 126.23± taxable acres. A survey will not be completed on this tract and the final purchase price will be based on 126.23 taxable acres, regardless of the amount of actual acreage. 

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.

Real Estate Taxes: The real estate taxes will be prorated between the Seller and Buyer(s) to the date prior to closing based on the above acreage determinations. 

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number in order to bid at the auction. By registering to bid all bidders are agreeing to the terms and conditions of the sale. Buyer(s) acknowledge that they have sufficient funds to pay the required earnest money and fulfill the Real Estate Sale Contract. 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 Rock County Farm Service Agency. The figures stated in the marketing material are the best estimates of Peoples Company; however, Farm Program Information, base acres, total crop acres, conservation plan, soil type, etc. are subject to change when the farm is reconstituted by the Rock County FSA and NRCS offices.

Earnest Money Payment: A 10% non-refundable earnest money payment is required on the day of the auction. The earnest money payment may be paid in the form of a check or wire transfer. All funds will be held in the Green County Title & Abstract, Inc. trust account.

Closing: Closing will occur on or before Thursday, April 20th, 2023. The balance of the purchase price will be payable at closing in the form of a wire transfer. With respect to the timing of the Sellers and successful Buyer(s) in fulfilling their obligations under the Real Estate Purchase Contract, time is of the essence.

Possession: Possession of the land will be given at closing; subject to the tenants’ rights under the following lease. 

Farm Lease: The Property is leased for agricultural purposes through the 2023 growing season. Any Buyer of a Tract must assume the Lease as to the Tract purchased and permit Tenant to harvest such crops as to that part of the Tract purchased by such Buyer. Under each assignment of the Lease, Seller will be responsible for obligations of Seller under the Lease that accrue before closing and each Buyer is responsible for and must defend, indemnify, and hold harmless Seller for all obligations of Seller as to the purchased Tract on and after closing. Rents will be credited or prorated among all buyers of the Property on the following bases (regardless of the exact number of acres purchased).

Tract One will be based off of 85.46± Tillable Acres. At closing the buyer(s) will receive a closing credit of $11,750.75 and is entitled to receive a second installment of rent from Tenant on November 1, 2023 in the amount of $11,750.75.

Tract Two will be based off of 61.15± Tillable Acres. At closing the buyer(s) will receive a closing credit of $8,408.13 and is entitled to receive a second installment of rent from Tenant on November 1, 2023 in the amount of $8,408.13.

Tract Three will be based off of 145.71± Tillable Acres. At closing the buyer(s) will receive a closing credit of $20,035.12 and is entitled to receive a second installment of rent from Tenant on November 1, 2023 in the amount of $20,035.12.

Tract Four will be based off of 121.68± Tillable Acres. At closing the buyer(s) will receive a closing credit of $16,731 and is entitled to receive a second installment of rent from Tenant on November 1, 2023 in the amount of $16,731.

Real Estate Condition Report: Pursuant to Wis. Stat. 709.08, any buyer shall waive any right to receive a Real Estate Condition Report required under Wis. Stat. 709.02 and any right to rescind under Wis. Stat. 709.05 based upon failure to receive such report.

Real Estate Assessments: Pursuant to §74.485 (7), Stats., Seller notifies Broker and any buyer that the Property has been assessed as agricultural land under §70.32 (2r), Stats. and that Seller has not been assessed a conversion charge or granted a deferral related to the Property. Each buyer of any part of the Property will be solely responsible for all conversion charges, including under §74.485, Stats. 

Contract & Title: Immediately upon the conclusion of the auction, the successful bidder of each Tract will enter into a Real Estate Purchase Contract and deposit with Green County Title & Abstract, Inc. the required earnest money payment. The terms of the signed Real Estate Purchase Contract shall govern the sale and shall supersede all prior negotiations, discussions, representations, or information regarding the sale, including this brochure. The Seller will furnish, at Seller’s expense, a current Title Commitment for an Owner’s Policy in the amount equal to the Total Purchase Price. Buyer will pay the premium for any title insurance policy Buyer chooses to obtain.  Seller agrees to convey title to the property by Trustee's Deed. This sale is not contingent on financing or appraisal. 

Fences: Existing fences, if any, are in as-is condition and will not be updated or replaced by the Seller. 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.

Other: This sale is subject to all easements, covenants, leases, and restrictions of record. Seller shall convey the Property "AS-IS" and with all faults and without any representation or warranty of any kind, express or implied, all of which are hereby disclaimed by the Auctioneer, Peoples Company, and Seller. Each Buyer of a Tract must covenant not to sue Seller for any liability, damage, loss, or expense which it may allegedly incur as a result of the condition of the Tract being purchased. All bids will be on a per-acre basis. Peoples Company and its representatives are agents of the Seller. Each successful bidder acknowledges that it is representing itself in completing the auction sales transaction. Any announcements made on 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 written approval of the Auctioneer. Auction is with reserve. In event of postponement because of Act of God, the auction shall be held at a later date. 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 Peoples Company. Overall tract acres, tillable acres, etc. may vary from figures stated within the marketing material. Each bidder and any Buyer of a Tract must perform its 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. The description of each Tract is taken from Farm Service Agency (FSA), Natural Resources Conservation Service (NRCS), real estate tax and other records and are not a warranty or representation of Seller, which makes no representations or warranties and herby disclaims the same.

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