Auction Terms & Conditions Bidders who wish to BID ONLINE -MUST 48 HOURSPRIOR to sale day provide a refundable $25,000 bid deposit to the Dan Pike Auction Company Trust account andcomplete the online registration at www.agribids.com in order to bid online. A buyer's premium will only apply to online purchases, please read and understand online terms prior to bidding. All online registration requirements MUST be completed 48 hours prior to the day of the auction. The property is being sold subject to advertised sale terms and any announcements made at the auction plus the following ONLINE AUCTION TERMS below: ONLINE REAL ESTATE AUCTION TERMS PROCEDURE: The Property will be offered in multi parcel as two individual parcels. NON-REFUNDABLE EARNEST MONEY DEPOSIT: Buyer(s) shall make a 20% earnest money payment of the accepted bid price as down payment on the day of auction with the balance in cash at closing. Your bidding is NOTsubject or conditional upon any buyer financing, so be sure that you have arranged financing, if needed, and are capable of paying cash at closing. ONLINE BUYERS PREMIUM: A 1%ONLINE ONLY- BUYER'S PREMIUM will be added to the final high bid on each parcel or parcel(s) purchased online to determine the final purchase price. (Example: $100,000 bid amount + 1% Buyers Premium = $101,000.00 Total Contracted Sale Price.) ACCEPTANCE OF BID PRICES: Each successful bidder will be required to execute the Real Estate Purchase Agreement, if the Buyer is at the auction site immediately following the close of the auction or if the Buyer is bidding ONLINE by email or fax on the day of the auction. All such Real Estate Purchase Agreements are then subject to the Seller's written acceptance. EVIDENCE OF TITLE: The Seller agrees to furnish an updated abstract of title or a preliminary standard Commitment for Title Insurance to the buyer within a reasonable time period following the sale for review prior to the closing of the sale transaction. The cost of updating the abstract or providing the standard owner's title insurance policy will be paid by Seller at closing. Seller agrees to provide marketable title to the Property, free and clear of all liens, subject to the terms and conditions of the Real Estate Purchase Agreement. CONVEYANCE: Conveyance shall be by Warranty Deed subject to the matters described further below. CLOSING: Subject to events outside the control of Seller, Closing shall take place on or before November 1, 2019, NO EXCEPTIONS. Closing documents shall be prepared and the closing shall be conducted by the Seller's attorney Ronald Schramel, Attorney at Law, Schramel Law Office, 910 Fourth Avenue, Windom, MN. 56101. His phone number is 507-831-1301. With respect to the timing of the successful bidder fulfilling its' obligations under the Real Estate Purchase Agreement, time is of the essence. POSSESSION: Possession will be upon Closing. REAL ESTATE TAXES & ASSESSMENTS: Real estate taxes and Assessments that are due and payable in 2019 will be paid 100% by the Buyer.The Buyer shall be liable for all real estate taxes and assessments that are due and payable following the closing. Buyer understands that the property is sold and is currently classified as Non-Homestead for tax purposes, and any change in classification by Buyer after closing may trigger taxes and penalties for which Buyer will be solely responsible. Buyer shall indemnify, defend and hold Seller and Auctioneer harmless for and against any and all such taxes and penalties. ACREAGE: All acreages, dimensions and boundaries are approximate and have been estimated based on current legal descriptions. The Seller shall not be responsible for any property surveying expense except those announced and included in the Real Estate Purchase Agreement. PROPERTY INSPECTION: Each potential bidders are responsible for conducting, at their own risk, independent inspections, investigations, inquiries, and due diligence concerning the Property. Each potential bidder shall be liable for any property damage and/ or personal injuries (including death) caused by or arising from any such inspection or investigations by them or their agents or consultants. AGENCY: Dan Pike Auction Company, LLC. and their representatives are the Auctioneers and exclusive agents of Seller. DISCLAIMER & ABSENCE OF WARRANTIES: All information contained here and all related materials are subject to the terms and conditions outlined in the Real Estate Purchase. Buyer has had ample opportunity to inspect the Property and is familiar with the Property, and agrees to accept the Property "AS IS" in its current condition. Seller provides no warranties as to the condition of the Property, the accuracy of apparent physical conditions of Property attributes, or the existence or condition of personal property or fixtures, if any. The Property and any improvements are sold "AS IS, WHERE IS, WITH ALL FAULTS". Seller makes no representation or warranty, and Buyer hereby knowingly and voluntarily assumes any and all risks, as to: environmental conditions; water quantity, quality or the existence or condition of the water delivery system(s) (if any); the accuracy of the acreage as set forth in any advertisements; and, the condition, existence or improvement of any easements, property lines or fence locations, if any, in relation to Property boundary lines. The 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 MN statues.SELLER HEREBY DISCLAIMS ANY AND ALL WARRANTIES OF HABITABILITY, MERCHANTABILITY AND FITNESS FOR PARTICULAR PURPOSE, EXPRESS OR IMPLIED. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, surveys, inquiries, and due diligence concerning the Property. The information provided is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. The conducting of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the person's credentials, fitness, etc. All decisions of the Auctioneer are final.The sale is subject to the Sellers approval. AUCTIONEER RESERVES THE RIGHT TO WAIVE ANY AND ALL FORMALITIES OF SALE. Any statements made at the auction may take precedence over any printed information. All ONLINE TERMS above apply as well as the following terms and conditions as were advertised in conjunction to this real estate sale: AUCTION SALE TERMS The properties shall be offered as two parcels via our Multi-Parcel board bidding system. The buyer or buyers shall enter into a purchase agreement and make a 20% Non-Refundable down-payment the day of the auction. The farms are being sold subject to a cropland lease for 2019 with the sellers retaining the lease payments made for the 2019 lease. The closing of the two parcels shall be held on November 1, 2019 with the balances being due and payable in full, when clear title will be passed and possession granted subject to the 2019 cropland lease and those crops being removed from the property pursuant to the 2019 cropland lease. The sale will NOT be contingent upon any buyer financing. The buyer is responsible for all real estate taxes that are due and payable in 2020 and thereafter. Property is being sold "AS IS", Property is being sold subject to any easements including road, drainage, utility or other easements of record or pending. The 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 MN statues. The buyers are responsible for all inspections of the property prior to their purchase of it. The sale is subject to the sellers approval. Any statements made at the auction may take precedence over any printed information. Auction Company & Staff represent the seller in this transaction. AUCTIONEER'S NOTE This is a great opportunity if you are looking for very good farmland to add your operation or investment portfolio. We are very honored to have been asked to represent the Becker - Hoover family & the Mennonite Foundation with the sale of this property. Please come prepared to purchase as the sellers have chosen the auction method to market this property. If you are considering the purchase of land to add to your investment portfolio this is an auction that you will want to attend. The information contained in this sale bill and other information provided by the sellers & their agents is believed to be correct, but is not guaranteed. Any lines on maps are for informational purposes only and are not guaranteed to be actual boundary lines of property. The buyers shall make themselves familiar with the property and verify all information & data for themselves. The auctioneers and the sales staff are representing the seller. This auction is open to the public. We look forward to seeing everyone at the auction. Remember that the auction begins at 10:30 A.M. sharp, so don't be late. ONLINE INTERNET TERMS: Bidders who wish to BID ONLINE MUST 48 hours prior to sale day provide a refundable $25,000 bid deposit to the Dan Pike Auction Company Trust account and register online at www.agribids.com in order to bid online. A buyer's premium will only apply to online purchases, please read and understand online terms prior to bidding. All online registration requirements MUST be completed 48 hours prior to the day of the auction.

Multi Parcel Farmland Auction in Mt Lake Township, Cottonowood County, Minnesota. we will be offering two parcels live and online at time of auction start 10:30 AM We are planning to start as planned. Please watch our websites for details and any weather related changes. www.danpikeauction.com & www.agribids.com