300th Street, Graettinger, IA 51342

Auction Details & Terms

The Pauline Neilson Family

239.90 Gross Surveyed Acres M/L

227.69 Total Estimated FSA Cropland Acres

Offered as Two Tracts

Tuesday, June 23rd, 2026, at 10:00 AM CST

Seller: The Pauline Neilson Family

Auction Location:

Graettinger American Legion

212 West Robins Avenue

Graettinger, IA 51342

• Tract 1: 79.98 gross surveyed acres m/l | estimated 78.31 FSA cropland acres | CSR2 soil rating of 80.3
• Tract 2: 159.92 gross surveyed acres m/l | 149.38 FSA cropland | CSR2 soil rating of 87.7

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 a 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: The tracts will be sold via Public Auction on Tuesday, June 23rd, 2026, at 10:00 AM at the Graettinger American Legion in Graettinger, Iowa. All tracts will be offered on a price-per-acre basis using the "Buyer's Choice" auction method, where the high bidder can take, in any order, any or all tracts for their high bid. The "Buyer's Choice" auction will continue until all Tracts have been purchased and removed from the auction. The tracts will not be offered in their entirety at the conclusion of the auction. This auction can also be viewed through a Virtual Online Auction option, and online bidding will be available.

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number 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.

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 Palo Alto 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 Palo Alto 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 Hendricks Law Office Trust Account.

Closing: Closing will occur on or before Friday, August 7th, 2026, under the direction of Colin Hendricks at Hendricks Law Office in Rockwell City, Iowa. The balance of the purchase price will be payable at closing in the form of cash, guaranteed checks, or wire transfers.

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

Farm Lease: The farms are leased for the 2026 farming season with the terms of the lease ending on February 28th, 2027. The yearly total cash rent for all of the farms combined is $65,575, and the Sellers will retain the first half rental payment of $32,787.50. The second half rental payment for all of the farms is $32,787.50 and is due to the new Buyer(s) on or before September 1st, 2026. Total farm lease cash rent payments are laid out below:

• Tract 1: 78.31 total acres leased at $288/acre | Total Tract 1 yearly cash rent payment of $22,553.50 | Buyer will receive 2nd half rent payment of $11,276.75 on or before September 1st, 2026
• Tract 2: 149.38 total acres leased at $288/acre | Total Tract 2 yearly cash rent payment of $43,021.50 | Buyer will receive 2nd half rent payment of $21,510.75 on or before September 1st, 2026

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

Financing: The purchaser’s obligation to purchase the Property is unconditional and is not contingent upon the Purchaser obtaining financing. Any financial arrangements are to have been made before bidding at the auction. By the mere act of bidding, the bidder makes a representation and warrants that the bidder has the present ability to pay the bid price and fulfill the terms and conditions provided in the Contract.

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. All property will be 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 "Price Per Acre" amount. 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 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 investigation of the property before 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.

Seller reserves the right to accept or reject any and all bids.