Terms: $10,000 earnest money deposit due by check or wire transfer at the conclusion of the auction, with the balance due on or before July 24, 2026. The seller will provide a current abstract at their expense. Real estate sells "as is, where is," with no warranties expressed or implied. The sale is not contingent upon Buyer's financing, appraisal, inspections, final walkthrough, or any other contingencies. In the event the Buyer does not close pursuant to the terms of the purchase agreement, the earnest money deposit shall be forfeited.

Real Estate Taxes: Taxes will be prorated to the date of closing.

Septic Systems: It will be the Buyer's sole responsibility and expense to inspect and/or update the septic system as required of the Iowa Time of Transfer Law.

Billboard Lease: This real estate is being sold subject to an existing billboard lease, which will transfer to the new property owner. The lease currently generates $2,500 annually. Any 2026 lease payments received by the Seller shall be retained by the Seller. For a copy of the lease agreement, please contact the Auction Company.
Inclusions: Window treatments, built in shelving, and any remaining personal property at the time of closing.

Reservations: All appliances & personal property inside the home. Shop equipment to include air compressors, unattached work benches, Forward automotive lift, hanging chain hoists and all other equipment and personal property

Closing: Closing will take place on or about July 26, 2026. The balance of the purchase price will be payable at closing by guaranteed check or wire transfer.

Possession: At closing upon payment in full.

NO REAL ESTATE BUYER'S PREMIUM!

Registration: Visit www.fraiseauction.com to register and bid today!

CARL A . STORMS - SELLER
Christy Popejoy - Attorney for Seller

Disclaimer and Absence of Warranties: All information contained in this and all related materials are subject to the terms and conditions outlined in the agreement to purchase. Announcements made by the auctioneer during the time of the sale will take precedence over any previously printed material or any other oral statements made, except the purchase agreement.

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 the auction company. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained is believed to be accurate but is subject to verification by all parties relying on it.

All lines drawn on maps and photos are approximate. No liability for its accuracy, errors or omissions is assumed by the seller or the auction company. Conduct at the auction and increments of bidding are at the direction and discretion of the auctioneer. The auctioneer reserves the right to change the bidding increments at any time during the auction.

The seller and auction company reserve the right to preclude any person from bidding if there is any question as to the person's credentials, legal competence, etc. All decisions of the auctioneer are final.

Agency: Fraise Auction & Real Estate and their representatives are exclusive agents of the seller.
Currency Type: USD

Special Terms
Fraise Auction & Real Estate is providing Internet bidding as a service to the Bidder. Bidder acknowledges and understands that this service may or may not function correctly the day of the auction. Under no circumstances shall Bidder have any kind of claim against Fraise Auction & Real Estate or anyone else if the Internet service fails to work correctly before or during the auction.

Fraise Auction & Real Estate will not be responsible for any missed bids from any source. Internet bidders who desire to make certain their bid is acknowledged should use the proxy-bidding feature and leave their maximum bid 24 hours before the auction concludes. Fraise Auction & Real Estate reserves the right to withdraw or re-catalog items in this auction.

The property is selling subject to public road easements, utility easements and all other easements of record.
Seller shall not be obligated to furnish a survey.
If, in the future, a site cleanup is required, it shall be the expense of the buyer.
Buyers are not bidding contingent on financing or any other contingencies. All sales are final.
The Property is being sold �As Is, Where Is�.

This is a soft close auction. Any bid placed in the final 3 minutes of an auction results in the auction automatically extending an additional 3 minutes. The bidding will extend in 3 minute increments from the time the last bid is placed until there are no more bids and the lot sits idle for 3 minutes. Therefore, the auction will not close until all biding parties are satisfied and no one can be outbid in the last seconds without having another opportunity to bid again.