Auction Method: The property will be offered in three individual tracts by Online Only Auction, with each tract selling for a lump-sum dollar amount. Tracts will be offered in numerical order and will remain open for bidding until the entire auction has concluded. A bid that extends the bidding time on any one tract will automatically extend all three tracts, allowing buyers the opportunity to purchase multiple tracts. Each tract will sell separately; however, no tract will close until all three tracts have been successfully sold.

Contract & Title: Immediately upon the conclusion of the auction, the successful bidder(s) shall enter into a written agreement with the Seller. Signing of said agreement will be executed via email or DocuSign. The Seller will provide a current abstract at their expense. Should a Buyer purchase one or more adjoining Tracts, then Seller shall be obligated to furnish only one abstract and deed (husband and wife constitute one Buyer). Bidding is NOT contingent upon financing, an appraisal, inspection, or any other contingencies.

Survey: Land is in the process of being surveyed.

Earnest Money: Ten (10%) percent of the bid price will be required within 24 hours of the auction ending. All funds will be held in Fraise Auction & Real Estate Trust Account.

Closing & Possession: Closing will occur on or about November 18, 2026, at which time possession will be given. Possession of the tillable acres is subject to the Tenant's completion of the 2026 fall harvest, with Buyer receiving full farming rights for the 2027 crop year.

Septic Systems: The septic system located on Tract 2 is exempt from the Iowa Time of Transfer Septic System Inspection requirements, as the property is being sold by an Estate.

Reservations: Round bales, watering tanks, bale rings & feeders. Buyer accepts any remaining personal property at the time of closing.

Other: It shall be the Buyer's responsibility to report to the Lee County FSA office and show filed deed in order to receive the following, if applicable (A) Allotted base acres; (B) Any future government programs; (C) Prorate of CRP. The land is selling subject to all easements, covenants, leases and restrictions of record. All property is sold on an "As Is, Where Is" basis with no warranties, expressed or implied made by the Auctioneer, Fraise Auction & Real Estate or Seller. Fraise Auction & Real Estate and its representatives are agents of the Seller. Winning bidder(s) acknowledges that they are representing themselves in completing this transaction. Any announcements made auction day by the Auctioneer will take precedence over all marketing material or oral statements. Bidding increments are at the sole discretion of the Auction Company and can be changed at any time during the course of the auction.

Disclaimer: Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. All boundary stakes, lines drawn on maps and photos are approximate. Overall Tract acres, etc. may vary from figures stated within the marketing material. No liability for its accuracy, errors or omissions is assumed by the Seller or Auction Company.

Buyer's Premium: This auction will have a 3% Buyer's Premium. Three percent (3%) will be added to the final bid to arrive at the total contract purchase price.

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

RICHARD & CASSANDRA MALLOY ESTATES - SELLER
LESLIE TEETERS - EXECUTOR
Steven J. Swan - Attorney for Seller

Auction Conducted By:
Fraise Auction & Real Estate
319-372-9121
www.fraiseauction.com

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.

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.