Cerro Gordo Co. 140.34 ACRES M/L – ONLINE ONLY AUCTION

CJS FARMS LTD

Online Only Auction – Cerro Gordo, Iowa

Auction Sales Method: The farm will be sold as one individual tract on a price per acre basis to the high bidder. This is a RESERVE Auction and the final bid will be presented to the owners and their advisors to decide whether to accept the top bid. The trustees have every intention to sell the properties, but they have the right to reject any and all bids. Bidding opens at 8:00 AM starts ending at 1:00 PM on December 9th, 2025 with possible extensions of 3 minutes until a final price is reached. ALL ANNOUNCEMENTS ON AUCTION DAY or UPDATED AUCTION TERMS TAKE PRECEDENT OVER PREVIOUSLY PROVIDED ADVERTISED INFORMATION.

The acre multiplier will be the gross acres. The final total sale price will be the gross acres x the final price per acre from the auction. The top bidder will be contacted by Gannon Real Estate & Consulting within 48 hours to report the owner’s decisions.

Online Bidding: Register to bid at http://bid.gannonre.com/auctions. It is the responsibility of the bidders to ensure they have access to a strong internet connection while bidding. By using Gannon Real Estate’s online auction platform, bidders acknowledge that Gannon Real Estate is not at fault for slow internet, connectivity issues or outages. No phone bids will be accepted without prior approval. All bidders must be registered on the bidding platform website to bid.

Possession: Full possession will be subject to the farm lease that ends February 28th, 2026.

Closing: Closing will be on or before January 15th, 2026, but we could accommodate a delayed closing for 1031 exchanges or other reasons if they are approved ahead of December 8th, 2025.

Earnest Money: A 10% earnest money payment is required to be paid when the final contract is signed. This will be paid in the form of a cashier’s check, cash or wire transfer.

Farm Lease: The farm lease has been canceled and is open to farm for the 2026 cropping season.

Contract and Title: Upon conclusion of the auction and the decision by the sellers, the highest bidder will enter into a real estate sales contract and submit earnest money payment to Gannon Real Estate. The seller will provide an updated abstract at their expense. The sale is not contingent upon the Buyers financing.

Mineral Rights: All mineral rights will be conveyed to the buyer (if any).

Taxes: Real Estate taxes will be prorated to closing.

Survey: Property will not be surveyed.

Fences: The fences, if any, are assumed to be the “right hand rule” but this is not guaranteed nor the adequacy of the fences.

Other: The sale is subject to all easements, covenants and restrictions of record. The property is sold “as is – where is” basis with no warranties expressed or implied by the Sellers or Gannon Real Estate & Consulting. Bidding increments are at the sole discretion of Gannon Real Estate & Consulting. Gannon Real Estate & Consulting only represents the Seller.

Disclaimer: All field boundaries are presumed to be accurate according to the best available information and knowledge of the Sellers and Gannon Real Estate & Consulting. Overall tract acres, tillable acres, etc. may vary from figures stated within marketing material. Buyer should perform his/her own investigation of the property prior to bidding at the auction. The brief legal description in the marketing material should not be used in legal documents. Full legal descriptions will be taken from the survey and abstract. Please do not drive on the property in wet conditions. Anyone that accesses the property assumes all liability for this access and damage to the property they cause.