#0 • Auction Terms | Gaffaney

Part of 155± Acres, (2) Parcels, Farmland & Recreational Land | Leven Township, Pope County, MN (timed auction by Fladeboe Land)

Status: No sale

Auction Terms: The successful bidder(s) will pay down $30,000 per parcel as earnest money on auction day in the form of a cashier’s check. The non-refundable check should be made out to Fladeboe Land Trust Account. The successful bidder(s) will enter into a non-contingent, AS-IS purchase agreement on auction day. Buyer’s premium will apply. Final price will be calculated by the number of deeded acres as per the survey. Closing(s) will be executed on or before September 3, 2026 with Minnewaska Abstract & Title, LLC in Glenwood, MN. Announcements made on auction day take precedence over printed material. BIDDING TERMS AND CONDITIONS Addendum Pope County Poor Farm LLC, Owners - Gaffaney Family Bidders: Please review all terms and conditions prior to bidding and buying. All documents referenced below are available online at https://fladeboeland.bidwrangler.com/ui and https://fladeboeland.com/  155.54 Total Surveyed Acres offered in two auction parcels. Parcel 1 – 79.35 Surveyed Acres, 71.87± Tillable Acres (FSA), the E½ of the SE¼ of Section 4 in Leven Twp, Pope Co. (PID # 02-0023-001) Parcel 2 – 76.19 Surveyed Acres, 30.65± CRP Acres, part of the W½ of the NW¼ of Section 3 in Leven Twp, Pope Co. (PID #02-0014-000) Legal Descriptions: Parcel 1 - the East Half of the Southeast Quarter (E½ SE¼) of Section 4, Township 126 North, Range 37 West, Pope County, Minnesota. Parcel 2 - the West Half of the Northwest Quarter (W½ NW¼) of Section 3, Township 126 North, Range 37 West, Pope County, Minnesota, EXCEPT that part of the West Half of the Northwest Quarter (W½ NW¼) Section 3, Township 126 North, Range 37 West, Pope County, Minnesota, described as follows: Commencing at the northwest corner of said Section 3; thence North 89 degrees 54 minutes 01 seconds East, assumed bearing along the north line of said Section 3, a distance of 1296.88 feet to the point of beginning of the land to be described; thence South 00 degrees 49 minutes 24 seconds West 680.56 feet; thence South 01 degrees 16 minutes 08 seconds West 1522.90 feet; thence South 00 degrees 38 minutes 15 seconds West 398.66 feet to the south line of said West Half of the Northwest Quarter (W½ NW¼); thence North 89 degrees 42 minutes 45 seconds East, along said south line of the West Half of the Northwest Quarter (W½ NW¼), a distance of 81.02 feet to the east line of said West Half of the Northwest Quarter (W½ NW¼); thence North 00 degrees 09 minutes 13 seconds West, along said east line of the West Half of the Northwest Quarter (W½ NW¼), a distance of 2601.30 feet to aforesaid north line of Section 3; thence South 89 degrees 54 minutes 01 seconds West, along said north line of Section 3, a distance of 26.11 feet to the point of beginning. Auction Information: Online-Only Auction Bidding Opens: Wednesday, July 15, 2026 at 8:00 AM CDT Bidding Closes: Wednesday, July 22, 2026 at 2:00 PM CDT* 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 final bid amount. AS-IS, Non-Contingent: Parcel(s) are offered strictly, “As-Is, Where-Is” with no contingencies.The successful bidder(s) will enter into a non-contingent, AS-IS purchase agreement on auction day. Buyer's Premium: There will be a 5% buyer's premium added over and above the bid price per surveyed acre to create the contract price. Bidder Registration and Approval: All parties requesting permission to bid are required to have their bank/lending organization email a "bank/lender letter of reference" stating that they are a customer of good standing and have a relationship with the financial organization.   Survey: The land has been surveyed by Nyberg Surveying. A copy of the survey is available in the buyer's packet available within the online auction catalog, as well as online at FladeboeLand.com. The buyer(s) agrees to occupy and utilize Parcel 1 and/or Parcel 2 according to the survey certificate and boundary line markers. Final price will be calculated by the number of deeded acres as per the survey. On Parcel 2, a new East line was established and then surveyed.  The new East line is just West of the fence (the entire fence will be on the neighboring parcel to the East and not on this subject parcel). See survey and boundary line markers on the parcel. The stated legal description and surveyed acres of 76.19 on these announcements reflects this change.    Earnest Money: The successful bidder(s) will pay down on auction day a non-refundable cashier's check in the amount of $30,000 per parcel made out to Fladeboe Land Trust Account. 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 September 3, 2026, with Minnewaska Abstract & Title, LLC in Glenwood, MN. Possession / Rent: Parcel 1 - The buyer will take possession of the property after the 2026 crop has been harvested by the current tenant. The 2026 crop remains the exclusive property of the tenant, and all cash rent for the entire 2026 farming season will be retained by the seller.  Parcel 2 - The buyer will take possession after the closing. Fall Tillage: Parcel 1 - The buyer will be responsible for completing 2026 fall tillage after the tenant has completely removed all of the 2026 crop harvest. Abstract(s): The seller will be responsible for providing an updated abstract to the buyer(s) at the seller's expense. The buyer(s) will be responsible for any title opinion or title insurance (amount unknown), any applicable recording fees and the buyer's closing fee. Real Estate Taxes: All property taxes due and payable in 2026 and all prior years are the responsibility of the seller. All real estate taxes and possible special assessments due and payable in 2027 and all subsequent years are the responsibility of, and will be paid by, the buyer. Zoning: The sellers, Fladeboe Land, and the Pope County Zoning Dept. will not be held accountable or responsible for your future property plans, for example, building entitlements, possible development, selling, etc. Easements: Copies of all easements affecting this land that have been recorded at the Pope County Recorder's Office have been included in the buyer's packet available within the online auction catalog, as well as online at FladeboeLand.com. It is the buyer's responsibility to review all easement information. All easements run with the land. Mineral Right Reservation: (Parcel 2) The W½ of the NW¼ is subject to a reservation of minerals and/or mineral rights in favor of the State of Minnesota, if any. This reservation, if applicable, runs with the land. FSA/NRCS: FSA & NRCS information is available in the buyer's packet. According to the Pope Co. NRCS Office, the wetland determination is not a certified determination. If the buyer(s) decides to improve the parcel(s) with additional tile, it will be up to a buyer's own due diligence to discuss the plans with the NRCS Office. CRP: Parcel 2 includes 30.65± acres of income producing CRP land (Contract #11457, expires September 30, 2031, annual contract payment $3,463.00). All CRP payments through September 30, 2026, will be paid to the seller, and all future payments beginning October 1, 2026, will be paid to the buyer. The successful buyer is required to contact the Pope County FSA Office to assume and transfer the contract. The new owner should provide a copy of their deed to the FSA Office once it has been recorded. Personal Property: Any personal property (ie. hunting stands) on the acreage will be removed prior to closing. Parcel 1: This acreage is represented as 79.35 surveyed acres, 71.87± tillable acres as per FSA. This parcel will be offered by auction and priced by the surveyed acre. The successful buyer will be multiplying the final bid price per 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 final contract price that will be listed in the purchase agreement. (Bid amount per acre x 79.35 surveyed acres + 5% buyer's premium total = Total amount to be paid and the amount that will be listed on the purchase agreement.) Parcel 2: This acreage is represented as 76.19 surveyed acres, 30.65± CRP acres. This parcel will be offered by auction and priced by the surveyed acre. The successful buyer will be multiplying the final bid price per 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 final contract price that will be listed in the purchase agreement. (Bid amount per acre x 76.19 surveyed acres + 5% buyer's premium total = Total amount to be paid and the amount that will be listed on the purchase agreement.) ONLINE BIDDING TERMS AND CONDITIONS Bidder Registration and Approval All bidders must be registered and manually approved by Fladeboe Land prior to bidding. Approval is based on verification of identity, availability of funds, and intent to purchase. Bidding privileges are provisional and may be revoked at any time if verification is incomplete or concerns arise. Fladeboe Land reserves the right to refuse registration, deny service, or reject any bid at its sole discretion. Any bidder acting on behalf of another party or entity must provide a valid, unexpired Power of Attorney, approved by the auctioneer before bidding. Bidding Process Fladeboe Land determines all bid increments, which may be adjusted during the auction at the auctioneer’s discretion. Bidders are responsible for monitoring their bidding activity throughout the auction. Maximum Bid Function A Maximum Bid allows the system to automatically bid on your behalf up to your entered limit. When two bidders set the same maximum bid, priority is given to the first bidder who placed it. Maximum bids are private to bidders but are visible to the auctioneer for monitoring purposes. *Auction Closing and Extension If a bid is placed within 180 seconds of the scheduled closing time (2:00 PM CDT on July 22, 2026), the bidding for both parcels will automatically extend by 180 seconds. The countdown will continue to extend by 180-second intervals with each additional bid on either parcel, always extending the bidding on both parcels. When no further bids are placed on either parcel and the timer expires, the auction will close and the high bidder will be established. The Seller reserves the right to accept or reject the final bid amount. Disclosures: All information obtained for this auction is from reliable sources. However, the seller, auctioneers and agents do not accept responsibility for the information presented, as it is the buyer's responsibility to verify all information. Precedence: Announcements made on auction day take precedence over printed material. On behalf of the Gaffaney Family and the Fladeboe Land Team, thank you for your participation in this auction