ONLINE AUCTION TERMS & CONDITIONS

PROCEDURE: This is an Online Only Auction for 243 more or less acres in Harlan County, NE. The 243 more or less acres will be offered in one (1) individual tract. Online bidding will take place beginning at 10:00 am CDT Monday, June 10th, 2024, and will “soft close” at 10:00 CDT Friday, June 14th, 2024. At 10:00 CDT on Friday, June 14th, 2024, bidding will continue in five-minute increments until five minutes have passed with no new bids. AgWest Land Brokers Agents will be at the AgWest Commodities Conference Room in Holdrege, NE from 9:00 a.m. until the conclusion of the online auction. Please come during the scheduled time to discuss the property. AgWest Land Brokers will be there to assist buyers with the online bidder registration process. Bidders do not have to be present to bid online, however, you are required to be available by phone.

BIDDER QUALIFICATION: YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, so be sure you have arranged financing, if needed, and are capable of paying cash at closing. Potential bidders must be approved to bid online. Go to www.bid.agwestland.com and CREATE AN ACCOUNT, if you do not currently have an account. Then ENTER the AUCTION and REQUEST APPROVAL to bid. You must be approved by AgWest Land Brokers, LLC before you can bid. You must agree to the auction terms and conditions during the registration process.

ACCEPTANCE OF BID PRICES: The successful bidder will sign a purchase agreement within two (2) hours of the close of the auction. All final bid prices are subject to the Sellers' approval or rejection.

EARNEST PAYMENT: Ten percent (10%) earnest payment upon signing a purchase agreement. The earnest payment may be paid in the form of personal check, business check, cashier’s check, or wire transfer. The remainder of the purchase price is payable in cash at closing.

REAL ESTATE TAXES AND ASSESSMENTS: 2023 and prior years taxes paid by Seller. All 2024 and future taxes will be the responsibility of the Buyer.

CLOSING: Will take place on or before July 12th, 2024 or as soon as applicable.

CLOSING EXPENSES: Seller shall be responsible for the documentary stamp tax created by virtue of this transaction to enable the recording of the Deed. Buyer shall be responsible for the other filing fees for purposes of recording the Deed. Closing agent fee shall be divided equally between the Seller and Buyer. Phelps County Title will be the closing agent.

POSSESSION: Possession will be given at closing and funding. Subject to current lease and tenant rights.

CURRENT LEASES: There is a lease in place for the 2024 crop season. Buyer to be assigned the 1/3 crop share lease. Buyer to receive 1/3 of the crop(s) and be responsible for 1/3 of the chemical and fertilizer expenses. The MPCI policy could possibly be transferred to Buyer, Buyer would be responsible for reimbursing Seller the MPCI policy premium. Call Jeff Moon with questions, 308.627.2630.

CONVEYANCE INSTRUMENT: Seller shall execute a Warranty Deed (and Bill of Sale if personal property is included) transferring and conveying said property to Buyer, free and clear of all liens and encumbrances except easements or restrictions visible or of record.

TITLE: Seller shall provide an Owner’s Policy of Title Insurance as evidence of marketable title. The cost of the owner’s title policy and the escrow fee shall be divided equally between the Seller and Buyer. Buyer will be responsible for all expenses related to acquiring a mortgagee’s title policy, if required.

PROPERTY CONDITION: Property to be sold AS IS—WHERE IS and no warranty or representation, either express or implied, will be given to any bidder or Buyer(s). Buyer(s) shall release Seller of any and all liability.

EASEMENTS AND LEASES: Sale of the property is subject to any and all easements of record and any and all leases.

SURVEY: No survey will be provided by the Seller.

MINERAL RIGHTS: All mineral rights owned by Seller, if any, will convey to Buyer.

AGENCY: AgWest Land Brokers, LLC and its representatives are exclusive agents of the Seller.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in the promotion and advertisement of this auction is believed to be accurate, but is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the seller, the broker, the auction company, or any of their respective representatives. All sketches and dimensions in this brochure are approximate. All acreages are approximate and have been estimated based on legal descriptions or aerial photographs. 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. Bidders should complete this due diligence prior to bidding on this auction. Increments of bidding are at the direction and discretion of the auction company. The seller, broker, and auction company 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 auction company are final. Online bidding will be available on our website for this Auction. If you need assistance in registering to bid on our website, please call our office at 866.995.8067. In accepting the terms and conditions for the use of our website, you agree to not hold AgWest Land Brokers, LLC, our affiliates, or our representatives responsible or liable for the functionality of the bidding platform. Problems in placing bids on the online bidding platform could be caused by internet connections, human error, wireless connections, etc. If you have trouble placing your online bid, immediately call Jeff Moon at (308) 627-2630 for assistance in placing your bid.

SELLER: Hodge Family Lands, LLC

Harlan County, NE Dryland Farm