Hancock County, Iowa Land Auction Mark your calendar for Friday, November 8th, 2024! Peoples Company is excited to present a rare opportunity to acquire a large farmland portfolio, owned by the Bruce C. Arnold Family. Hancock County boasts a rich agricultural heritage, and many of these parcels have earned the esteemed "Century Farm" designation, with origins tracing back to 1888. The auction will consist of 557 acres m/l to be sold in eight individual tracts on Friday, November 8th, 2024 at the Klemme Public Library in Klemme, Iowa.

Tract 1: 75 acres m/l with 66.74 FSA cropland acres, carrying a CSR2 of 82.3.

Tract 2: 78 acres m/l with 71.47 FSA cropland acres, carrying a CSR2 of 85.2.

Tract 3: 80 acres m/l with 79.85 FSA cropland acres. Of the 79.85 FSA cropland acres, 71.66 acres are currently in corn/soybean production carrying a CSR2 of 84.7, and 8.19 acres are in hay production.

Tract 4: 80 acres m/l with 77.28 FSA cropland acres. Of the 77.28 FSA cropland acres, 76.54 acres are currently in corn/soybean production carrying a CSR2 of 85.9, and 0.74 acres are in hay production.

Tract 5: 120 acres m/l with 91.27 FSA cropland acres. Of the 91.27 FSA cropland acres, 84.66 acres are currently in corn/soybean production carrying a CSR2 of 63.5, and 6.61 acres are in hay production.

Tract 6: 81 acres m/l with 57.9 FSA cropland acres. Of the 57.9 FSA cropland acres, 40.48 acres are currently in corn/soybean production carrying a CSR2 of 73, and 17.42 acres are in hay production.

Tract 7: 40 acres m/l with 35.33 FSA cropland acres. Of the 35.33 FSA cropland acres, 13.06 acres are currently in corn/soybean production carrying a CSR2 of 88.2, and 22.27 acres are in hay production.

Tract 8: 3.29 surveyed acres m/l featuring a single-family 1 3/4-story house and multiple outbuildings. Open House - Scheduled for Tuesday, October 22nd & 29th from 3:00 P.M. - 5:30 P.M.

The tracts are located south of Klemme, Iowa in Twin Lake and Avery Townships. The farm leases have been terminated and farming rights will be available for the 2025 growing season.

Tracts 1-7 will be sold on a per-acre basis and will be offered through the "Buyer's Choice Auction Method", whereas the winning bidder may elect to take, in any order, one, two, or all of the tracts for their high bid. The "Buyer's Choice Auction Method" auctioning will continue until all tracts have been purchased. After Tracts 1-7 are sold, Tract 8 will be sold on a whole dollar amount. Tracts will not be offered in their entirety or combined at the conclusion of the auction.

The land auction can also be viewed through our virtual online auction platform with online bidding, via the Peoples Company website or you can follow along live through our Facebook page on the day of the sale.

Century Farm: Tracts in Section 8 of Avery Township have been recognized by the State of Iowa as "Century Farms" that have been in the Bruce C. Arnold Family for over 100 years and have not been available to the public since 1888. The Century Farms Program recognizes and honors those individuals and families who have owned the farmland for 100 years or more. The program began in 1976 as part of the Bicentennial Celebration when over 5,000 certificates and farm markers were distributed across Iowa at local ceremonies. Since 1976, more than 15,000 families have been recognized.

Hancock County Land Auction

557 Acres M/L (Offered in Eight Tracts)

Friday, November 8th, 2024 at 10:00 AM

Auction Location:

Klemme Public Library

204 E Main Street

Klemme, IA 50449

Sellers: Bruce C. Arnold Family

Representing Attorney: Timothy M. Anderson - Anderson Law Firm in Garner, Iowa

Online Bidding: Register to bid on our website. 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.

Auction Method: Tracts 1-7 will be sold on a per-acre basis and will be offered through the "Buyer's Choice Auction Method", whereas the winning bidder may elect to take, in any order, one, two, or all of the tracts for their high bid. The "Buyer's Choice Auction Method" auctioning will continue until Tracts 1-7 have been purchased and removed from the auction. After Tracts 1-7 are sold, Tract 8 (Acreage) will be sold on a whole dollar amount. Tracts will not be offered in their entirety or combined at the conclusion of the auction.

Tract 1: 75 Acres M/L

Tract 2: 78 Acres M/L

Tract 3: 80 Acres M/L

Tract 4: 80 Acres M/L

Tract 5: 120 Acres M/L

Tract 6: 81 Acres M/L

Tract 7: 40 Acres M/L

Tract 8: 3.29 Acres M/L

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number in order to bid at the auction. 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 Hancock County Farm Service Agency. 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 farm is reconstituted by the Hancock 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 Timothy M. Anderson Clients Trust Account.

Closing: Closing will occur on or before Tuesday, December 31st, 2024. The balance of the purchase price will be payable at closing in the form of a guaranteed check or wire transfer.

Possession: Possession of the farm will be given At Closing, Subject to Tenant's Rights.

Farm Leases: The farm leases have been terminated and the tracts are open for the 2025 growing season.

Contract & Title: Immediately upon the conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Timothy M. Anderson Clients Trust Account the required earnest money payment. The Seller will provide a current abstract at their expense. The Sale is not contingent upon Buyer financing.

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.

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, 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. The winning bidder acknowledges that they are representing themselves 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 the 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 the abstract.