Upcoming Live Public Auction Of 176.14+/- Acres Of Farmland

To Be Sold In 3 Separate Tracts

Located In Elk Point TWP West & Brule TWP in Union County, SD

This Land Is Located Northwest of Elk Point, SD &

South & Southeast of Junction City, SD

Tract 1: 60.14+/- Acres Of Farmland In Elk Point TWP West

Tract 2: 35.21 Acres Of Farmland In Elk Point TWP West

Tract 3: 80.79 Acres Of Farmland In Brule TWP

Tract 1 & 2 Location: From Elk Point, SD go approx. 3 1/2 miles Northwesterly on Burbank Road (10) to the intersection of 322nd St and 472nd Ave then go 1/2 mile West on 322nd St. to Tract 1 & 2. Both tracts are on the South side of 322nd Ave.

Tract 3 Location: From Junction City go East on 318th St. (11/50) for approx. 4 miles to 475th Ave. then go 2 miles South on 475th Ave to 320th St. then go approx. 1/2 mile West on 320th St to the tract. Tract 3 is on the North side of 320th St.

Auction of all the tracts will be held at the site of  Tract 1

Sale Date: September 27, 2022 @10:30 A.M.

Auctioneers Note: The Zomer Company is honored to have been selected by the Laferriere Family Living Trust to offer this land for sale to the public at auction! Land in this area is not often available! This will be a live auction with online bidding! This is a great opportunity to add acres to your current operation or your investment portfolio! Check it out today! Watch zomercompany.com in case of inclement weather!

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Legal Description of Tract #1: The West 990ft of the NE1/4 of Section 8, TWP 91N, Range 50W, Union County, SD. Subject to all public roads and easements of record and any special assessments of record.

General Description of Tract #1: This property contains 60.14+/- gross acres according to the recent survey.  According to FSA/survey this tract of farmland has approx. 59.39+/- tillable acres. The predominant soil types include: Fc-Forney. According to Agri-Data this farm has a productivity index rating of 67 and a county soil rating of .769. This farm has a corn base and soybean base combined with the adjoining tract with a PLC yield of 151bu. on corn and 42bu. on soybeans. FSA will need to do a reconstitution on base acres due to recent survey. This farm is all tillable with the exception of the road and ditch and can be farmed in 1/2 mile rows! This is an excellent opportunity to purchase an attractive farm in an area where land is not often available! Make plans today to attend this auction and purchase this property!!!

Legal Description of Tract #2: The NE1/4 of the NW1/4 EXCEPT Laferriere acres addition, all in Section 8, TWP 91N, Range 50W, Union County, SD. Subject to all public roads and easements of record.

General Description of Tract #2: This property contains 35.21+/- gross acres according to the recent survey.  According to FSA/survey this tract of farmland has approx. 34.6+/- tillable acres. The predominant soil types include: Fc-Forney. According to Agri-Data this farm has a productivity index rating of 67 and a county soil rating of .769. This farm has a corn base and soybean base combined with the adjoining tract with a PLC yield of 151bu. on corn and 42bu. on soybeans. FSA will need to do a reconstitution on base acres due to recent survey. This farm is all tillable with the exception of the road and ditch! This is an excellent opportunity to purchase an attractive farm in an area where land is not often available! Smaller tracts of land in this area are not often sold! This property is sold subject to an access easement which was recorded Dec. 2, 2004 and is on the West 33ft of this property which provides access to the adjoining landowner to the South of this property. Make plans today to attend this auction and purchase this property!!!

Legal Description of Tract #3: The SW1/4 of the SE1/4 lying North of the centerline of 320th St., and the SW1/4 of the NE1/4, and the NW1/4 of the SE1/4, less Laferriere tract 1, all in Section 26, TWP 92N, Range 50W, Union County, SD. Subject to all public roads, transmission line easement and easements of record.

General Description of Tract #3: This property contains 80.79+/- gross acres according to the recent survey.  According to FSA/survey this tract of farmland has approx. 76.27+/- tillable acres with the remainder in approx. 4 acres of grass waterway and road/ditch. The predominant soil types include: WbA-Wentworth, Ka-Kennebec, Wh-Whitewood, WbB-Wentworth, EaB-Egan-Shindler, Ae-Alcester. According to Agri-Data this farm has a productivity index rating of 88.8 and a county soil rating of .814. This farm has a corn base and soybean base combined with the adjoining tract with a PLC yield of 151bu. on corn and 42bu. on soybeans. FSA will need to do a reconstitution on base acres due to recent survey. This is an excellent opportunity to purchase an attractive farm in an area where land is not often available! Make plans today to attend this auction and purchase this property!!!

Method of sale: All 3 tracts will be offered in the choice method with the first successful bidder having the choice of purchasing Tract 1 or Tract 2 or Tract 3. First successful bidder of choice will only be permitted to select one tract. After the first round of the choice then choice will be offered on the 2 remaining tracts. The successful bidder of this round will be permitted to select 1 tract. After the first 2 rounds of choice whichever tract is remaining will then be sold. The tracts will not be offered in any combinations and will not be combined. Auction for all the tracts will be held at the site of Tract 1.

Taxes: The current Real Estate Taxes according to the Union County Treasurer are approx. $1,384.38 per year on Tract 1, approx. $807.56 per year on Tract 2 and approx. $2,025.00 per year on Tract 3. Taxes are estimated and will be reassessed by the county due to the recent survey. Seller will pay the 2022 taxes which are due and payable in the spring and fall installments of 2023.

Possession: Possession will be on closing day. These farms will be available to farm for the 2023 crop year.

Terms: Purchaser(s) will be required to pay a non-refundable 15 % of the purchase price as earnest money deposit, and also agree to enter into a purchase agreement with the remaining balance due and payable on closing day on or before October 31, 2022 when the buyer shall receive a clear and merchantable title to the property. Owners Title insurance and closing fee split 50/50 between buyer and seller. Michael Mcgill will act as Escrow and Closing agent. This property is being sold as is as a cash sale with no finance contingencies and as is with any/all defects and encroachments if any. While every effort has been made to ensure the accuracy of the information herein, all prospective buyers are encouraged to inspect the property and verify all data provided. No warranties are expressed or implied. Any lines on maps and pictures are for informational purposes only and are not guaranteed to be actual boundary lines of the property. Sellers do not warranty or guarantee that existing fences lie on the true boundary and any new fencing if any will be the responsibility of the purchaser pursuant to SD statues. Any announcements made day of the auction will supersede any advertisements. Aerial maps, soil maps and auction booklets are available upon request. This Property is being sold subject to the confirmation of the sellers. Buyer agrees to accommodate the sellers with a 1031 exchange. All buyers are encouraged to do buyers due diligence. Auctioneers and Real Estate brokers are representing the sellers. If any additional information is requested, please contact auctioneers listed below. Paul Van Olson & Michael Mcgill—Attorneys For Seller

Laferriere Family Living Trust—Owner

Auction Company:

Zomer Company — 1414 Main St., Rock Valley, IA 51247 — 712-476-9443 — www.zomercompany.com

Mark Zomer – 712-470-2526 — Ryan Zomer – 712-441-3970—Joel Westra—605-310-6941

Zomer Auctions welcomes you to our current and future auctions.
Please carefully read the terms listed below. Thank You!

Zomer Auctions, its Employees and representatives (hereinafter “Company”) act merely as agents for Seller(s). All final bids are subject to the Seller's confirmation. The top bidder will be contacted as to the status of his/her bid. While the information we provide on item(s) is deemed correct, no warranties are expressed or implied and you agree to purchase and accept the property in an as-is condition. Information on the property is obtained by us from the Seller(s) and other sources and you hereby agree to hold harmless Company for any errors or omissions regarding the property being sold. This information includes but is not limited to physical condition, features, inadvertent errors in cataloging, authenticity or imperfections not specifically noted and other data pertinent to the value of the item. Buyers are responsible for conducting their own inspection during Open Houses/Inspection periods or by appointment. Printed or verbal statements made by Company are matters of opinion and are made in good faith. Any announcements posted the day of the auction or announced at the live auction take precedence over all prior advertisements.
 
You acknowledge that you have the right and responsibility to inspect the property personally, or to have a third-party representative inspect the property for you. That by bidding on the property you have agreed to accept that property in its present condition with the description provided whether accurate or not.

Auction Close: Upon the completion of an auction and notification from the auction company to the buyer of the acceptance of the buyers bid by the seller. The buyer does hereby agree to immediately enter into a purchase agreement with the terms stated and shall immediately provide the earnest money deposit due.

These terms and conditions and any dispute arising out of or related to an auction shall be governed by and construed and enforced in accordance with the laws of the State of Iowa. Any legal action must be brought in Sioux County, Iowa, or another jurisdiction of Company’s choosing. Buyer agreed to abide by the laws of the State of Iowa.

When using our online auction services you are making firm commitments to purchase said property and are entering into a legal and binding contract. Bids may not be cancelled or retracted for any reason.  Fraudulent bidding will subject you to legal recourse and possible criminal charges including any fraud and/or interstate commerce violations. Buyers also acknowledge that the Internet may be an unreliable and error prone network. Company does not guarantee that bids placed online will always be transmitted to or received by the auctioneer in a timely fashion or that current bid shown is accurate. Buyers agree to hold Company harmless for any interruptions of online bidding. Further, Company has the sole discretion to accept or refuse any bid. Company retains the right, at Company’s sole discretion, to add, delete or change some or all of our online services and the terms and conditions governing their online auctions at any time without notice. Please review auction terms often.

Bidder/Buyer responsibilities include but are not limited to the following:

All Buyers must provide their name, email address, daytime phone number and physical address at which they can be contacted for timely and accurate communication between Company and Buyer throughout any transaction or auction. Failure to maintain accurate and current contact information on Buyers account may lead to suspension of their account access until current contact information is provided to Company. All Buyers must provide valid credit card information, wire information or proof of funds if requested.

Buyers shall obey any and all local, state and federal laws and any and all violations of the same will result in termination of bidding and website use privileges with Company.

The final bidding will close and remain closed and no adjustments shall be made after closing.

Bidders acknowledge that online only auctions have an auto extend feature that means the auction will not close until all bidding parties are represented and satisfied. A bidder can place a max bid on one or more lots. The current bid price does not automatically go to the max bid unless the bidder selects to raise the bid to that price immediately by selecting the raise bid option. When another bidder increases the current bid then the computer will automatically increase the bid in the increment specified reaching your max bid only by ongoing bidding activity.

Company reserves the right to reject any and all bids for any reason. Company shall not be held responsible for any missed bids. All auctions are subject to the sellers confirmation.

Bidder shall be held liable for all bids placed from the bidders account.

Bidder acknowledges that some tracts may be sold in total dollars and some may be sold per acre. The tracts sold per acre shall be the purchase price times the gross acres of the property sold. Bidder acknowledges that the online platform may not always show the tenths of an acre sold however bidder acknowledges that the purchase price will still be calculated using the total gross acres of the tract being sold including the tenths even if they are not displayed.