#00 • Trapp

Part of Trapp (live auction by Fladeboe Land)

Status: No sale

Trapp Family Farmland Auction: 116.51 Surveyed Acres. 106.51+/- Tillable Acres (as per FSA), 6.1 Acres is RIM Conservation Easement, described as part of the Northwest Quarter of Section 15, Township 117, Range 35, Roseland Township, Kandiyohi County.   Announcements/Terms:   Agency:    Fladeboe Land discloses that we are representing the seller exclusively in this transaction. The seller will have the right to accept or reject the bids today.   AS-IS: You are buying this parcel strictly “As-Is - Where-Is.”   Non-Contingent: You are buying this parcel non-contingent.      Buyer’s Premium: There will be a 5% buyer’s premium added over and above the bid price today to create the contract price.   Earnest Money: The successful bidder will pay down today a non-refundable check of $75,000.  The balance of the money is due and payable on the date of closing. Clear title will be given to the new buyer. Failure of performance by the buyer would require forfeiture of the earnest money. The closing will be required to happen on or before December 27th, 2024, with Attorney Brad Schmidt at JMSK&Z Law Office in Willmar, MN.   Possession, Lease and Rental Payment: The buyer will be able to farm this parcel in 2025 and after. The 2024 crop belongs to the current tenant. The 2024 cash rent belongs to the seller.   Page 10             Fall Tillage: The current tenant will be responsible for the 2024 fall tillage on the subject parcel.   Real Estate Taxes: Real estate taxes due and payable in 2024 and all prior years have been paid in full. All real estate taxes including special assessments due and payable in 2025 and all subsequent years will be paid by the buyer.   Tile/Drainage: The seller has provided a copy of their tile map. This information is not guaranteed by the seller or Fladeboe Land. Co Ditch No. 8 runs through the northeasterly portion of the parcel.   FSA/NRCS: FSA & NRCS information is available in your buyer’s packet. According to the Kandiyohi Co. NRCS Office, this land does not have a certified determination on file. If the buyer decides to improve the parcel with tile, it will be up to a buyer’s own due diligence to discuss the plans with the NRCS Office.   6.1 Acre Perpetual RIM Conservation Easement: A copy of that certain Perpetual RIM Conservation Easement recorded as Document No. 493475 is included in the auction booklet available on site today and in the buyer’s packet available at FladeboeLand.com & BidWrangler.com. The associated CRP contract is no longer in effect. This is the only easement currently of record at the Kandiyohi County Recorder’s Office pertaining to this parcel.   Survey: The land has been surveyed by O’Malley & Kron Land Surveyors. A copy of the survey is included in the auction booklet available on site today and in the buyer’s packet available at FladeboeLand.com & BidWrangler.com.   Abstract:  The seller will be responsible for the payment of updating the abstract. The updated abstract will be provided to the buyer promptly after the auction. The buyer will be responsible for their title opinion or title insurance costs (amt. unknown), any applicable recording fees and the buyer’s closing fee to the law office handling the closing.       Page 11     Acreage: We are representing this parcel as containing 116.51 surveyed acres; 106.51+/- tillable acres as per FSA, and 6.1 acres in a RIM Conservation Easement. We will auction this parcel by the surveyed/deeded acre. The successful buyer will be multiplying what they paid per deeded/surveyed acre by the number of acres. The buyer’s premium will then be added to the total bid price amount, which combined will be the contract price that will be listed in the purchase agreement. (Bid amount per acre x the number of deeded/surveyed acres + buyer’s premium total = Total amount to be paid and the amount that will be listed on the purchase agreement.)                                                                                                           Disclosures: All information obtained for this auction is from reliable sources.  However, the sellers, auctioneers and/or agents do not accept responsibility for the information presented, as it is the buyer’s responsibility to verify all information.   On behalf of the Trapp Family and the Fladeboe Land Team, thank you for attending the auction today. The successful bidder will sign the purchase agreement and announcements at the conclusion of the auction.   Buyer Signature(s)   _____________________________________________________   Sign                                                                 Date             _____________________________________________________   Sign                                                                 Date                                           Seller Signatures        _____________________________________________________   Sign                                                                 Date             _____________________________________________________   Sign                                                                 Date                 Page 12     Seller Signatures (CONTINUED)     _____________________________________________________   Sign                                                                 Date             _____________________________________________________   Sign                                                                 Date               _____________________________________________________   Sign                                                                 Date             _____________________________________________________   Sign                                                                 Date               _____________________________________________________   Sign                                                                 Date