AUCTION TERMS & CONDITIONS

PROCEDURE: The property will be offered in 6 individual tracts, any combination of tracts, or as a whole property in a virtual online auction format. The property will be sold in the manner resulting in the highest total sale price. Bidding and livestream viewing will be available at www.MurrayWiseAssociates.com. Bidding will be on a lump sum total dollars per tract, not dollars per acre. REGISTRATION: All bidders are required to register at www.MurrayWiseAssociates.com prior to the start of bidding. Once the online registration form is filled out it will be automatically sent to Murray Wise Associates for approval to allow bidding. Auction company may request a letter of recommendation from prospective bidder’s financial institution stating funds are available for the 10% deposit and that bidder has the financial capacity for final purchase.

ACCEPTANCE OF BID PRICES: The successful high bidder will enter into a Contract to Purchase immediately following the close of bidding for presentation to the seller. Final bid price is subject to approval or rejection by seller. Upon the close of the auction the winning bidder will sign the Contract to Purchase in DocuSign. A signed copy of the contract must be returned and received by Murray Wise Associates LLC on or before 12:00PM CST, Wednesday, September 22nd, 2021. BUYER’S PREMIUM: A 5% Buyer’s Premium will be added to the final bid price and included in the contract purchase price.

DOWN PAYMENT: A 10% non-refundable down payment of the total contract purchase price will be due within 24 hours of the close of the auction from the winning bidder. The down payment may be paid in the form of wire transfer, personal check, business check or cashier’s check. Should the winning bidder not be approved by the Seller, the down payment shall be returned to Bidder as soon as practicable. The balance of the contract purchase price is due in cash at closing. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING.

CLOSING: The closing shall take place on or before October 22nd, 2021.

POSSESSION: Possession will be given at closing, subject to the remaining rights of the current tenant and his right to remove the 2021 crop. TITLE: Seller will provide a proper deed conveying merchantable title to the real estate to the successful buyer free and clear of liens.

REAL ESTATE TAXES & INCOME: The 2021 calendar year taxes due and payable in 2021 shall be paid by seller in the form of a credit at closing. The most recent tax figures available will be used to determine the amount of the credit. The 2022 calendar year taxes and beyond will be the responsibility of the buyer(s). The Seller will retain all income from the 2021 crop.

SURVEY: At the Seller’s option, the Seller shall provide a new survey where there is no existing legal description sufficient to convey title. Any need for a new survey shall be determined solely by the Seller unless such surveys are required by State or local law. The cost of the survey shall be paid by the Seller. The type of survey performed shall be at the Seller’s option and sufficient for providing a standard form owner’s title insurance policy and the transfer of merchantable title.

MINERAL RIGHTS: The sale shall include any and all mineral rights owned by the Seller, if any.

ACREAGES: All acreages are approximate and have been estimated based upon current legal descriptions, aerial mapping software, and Federal USDA regulations which include corn, soybean and hay ground as “Historically Farmed Acres”. Estimated acreage is for informational purposes only, and it is the Buyer’s responsibility to conduct his or her own investigation and research to ascertain the actual acreage of the property being offered for sale.

EASEMENTS & LEASES: The sale is subject to any and all easements and leases of record. - In the event Tracts 5 and 6 sell to separate buyers, Auction Tract 6 will be subject to a 40-foot wide easement that begins at the existing entrance of Tract 6 off of State Highway KK and runs south to the Tract 5 property line to allow ingress/egress for Tract 5.

DISCLAIMER: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the agreement to purchase. The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either express or implied, concerning the property is made by the Seller or Murray Wise Associates LLC. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is believed to be accurate but is subject to verification by all parties relying on it. No liability for its accuracy, errors or omissions is assumed by the Seller or Murray Wise Associates LLC. All sketches and dimensions in this brochure are approximate. All acreages are approximate and have been estimated based on legal descriptions or aerial photographs. Conduct at the final round of bidding and increments of bidding are at the direction and discretion of the seller’s agent. The Seller and Murray Wise Associates LLC reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc. Under no circumstances shall Bidder have any kind of claim against Murray Wise Associates LLC, or anyone else if the internet service fails to work correctly before or during the auction.