77 +/- Acres Shelby County, Illinois Buyer's Choice Auction

AUCTION TERMS & CONDITIONS

77.37 +/- Acres | Shelby County, Illinois | Listing # MR258777AU

BIDDER RESPONSIBILITY: It is the Bidder/Buyers responsibility to read and review all terms & conditions prior to bidding on any property. By bidding on the property, the Bidder/Buyer agrees that these terms will supersede all prior discussions, negotiations, and agreements, whether oral or written. The bidder/buyer agrees his/her actions shall be binding and obligatory upon the undersigned, their separate heirs, administrators, executors, assigns, and successors in the interest of the undersigned. Bidder may not assign the rights afforded the Bidder to any other party without the Seller’s consent. Successful bidder(s) agree to immediately execute a purchase agreement following the conclusion of the auction per the following terms and conditions. By bidding on the property, bidder/buyer agrees to all terms and conditions set forth and will enter into a contractual real estate purchase agreement to purchase the property under the following terms and conditions.

UPON CONCLUSION OF THE AUCTION: The Winning Bidder(s) will enter into a Real Estate Contract immediately following conclusion of auction. If the Winning Bidder(s) are not physically present (bidding by phone or online),the Winning Bidder(s) will be sent (electronically via email, DocuSign) a Real Estate Contract. Winning bidder(s) may print the Real Estate Contract and is/are required to fully and correctly complete and properly sign without any modifications. Bidder(s) are required to return the completed, signed contract to Geswein Farm & Land Realty, LLC by email or delivered in person by 5:00 PM CST, January 29, 2026. Along with the completed, signed contract, the Winning Bidder(s) will be required to send the specified non-refundable 10% earnest money deposit as stated in the real estate terms within the Real Estate Contract. This non-refundable earnest money deposit will be held in escrow until closing and that amount will then be credited to the Buyer as part of the purchase price of the property. Wire transfer instructions and escrow agreement forms will be provided to the Buyer along with the contract after the auction. Purchaser shall be responsible for all wire transfer fees. Successful bidders not executing and returning the completed contract and earnest money deposit by 5:00 PM CST, January 29, 2026 will be considered in default. Such default by the Successful Bidder will result in that Bidder’s liability to both the Seller and Geswein Farm & Land Realty, LLC. Seller shall have the right to (a) declare this contractual agreement cancelled and recover full damage for its breach, (b) to elect to affirm this contractual agreement and enforce its specific performance or (c) Seller can resell the property either publicly or privately with Geswein Farm & Land Realty, LLC and in such an event, the Buyer shall be liable for payment of any deficiency realized from the second sale plus all costs, including, but not limited to the holding costs of the property, the expenses of both sales, legal and incidental damages of both the Seller and Geswein Farm & Land Realty, LLC In addition, Geswein Farm & Land Realty, LLC also reserves the right to recover any damages separately from the breach of the Buyer. Both the Successful Bidder and Seller shall indemnify Geswein Farm & Land Realty, LLC for and hold harmless Geswein Farm & Land Realty, LLC from any costs, losses, liabilities, or expenses, including attorney fees resulting from Geswein Farm & Land Realty, LLC being named as a party to any legal action resulting from either Bidders or Sellers failure to fulfill any obligations and undertakings as set forth in this contractual agreement.

NO CONTINGENCIES: This Real Estate contract is not contingent on or subject to Buyer’s financing, appraisal, survey or inspections of any kind or any other contingencies as agreed to by bidders at registration prior to bidding.

OFFERING PROCEDURE: The property will be offered as two (2) tracts - North and South - available per the surveyed acreage by Buyer’s Choice method and will sell to the highest bidder on a price per acre basis, subject to acceptance of the seller. The high bidder in Round 1 may select either or both tracts available. If only one Tract is selected in the first round of bidding, another round of bidding will be completed until all tracts are selected. Final acreage subject to survey. Seller reserves the right to accept or reject any and/or all bids. Bidders wishing to make a confidential phone or email bid may do so by contacting Matt Rhodes at (217) 251-7067 by January 27, 2026.

NEW DATA, CORRECTIONS AND CHANGES: Please review all announcements prior to scheduled auction time to inspect any changes, corrections, or additions to the property information.

DOWN PAYMENT: The successful Bidder(s) will complete a down payment for not less than ten (10%) percent of the total purchase price upon acceptance of the high bid(s) by 5 PM CST on January 29, 2026 to Allied Capital Title in Shelbyville, IL. Earnest Money Wire Instructions will be provided to the successful Bidder(s) post conclusion of the auction. This down payment shall serve as Earnest Money and the balance of the contract purchase price is due in cash at closing. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING OR APPRAISAL, be certain that you have arranged financing, if needed, and are capable of paying for the property in cash at closing.

ACCEPTANCE OF BID PRICES: The successful high bidder(s) will enter into a purchase agreement immediately following the close of bidding for presentation to the seller. Final bid prices are subject to approval or rejection by seller. Bid increments are subject to the approval of the auctioneer.

CONFLICTS: In the event of any conflict between this document and the sales contract, the sales contract will prevail.

POSSESSION & CLOSING: Successful bidders are purchasing with no financing contingencies and must be prepared for cash settlement of their purchase on or before February 27, 2026. Closing to take place at Allied Capital Title in Shelbyville, Illinois. Final settlement will require wire transfer. Possession of the property will occur with closing.

LEASE: OPEN LEASE FOR 2026.

TITLE: Seller shall furnish the buyer at seller’s expense an owner’s policy of title insurance in the amount of the purchase price and agrees to provide and execute a proper deed conveying merchantable title to the real estate to the buyer. Preliminary commitment will be available prior to auction.

REAL ESTATE TAXES AND ASSESSMENTS: The Seller will provide a credit at closing for the 2025 Property Taxes Due in 2026 and the buyer will be responsible for the tax bill due in 2026. The credit will be pro-rated for the surveyed acreage for each separate tract, if necessary, based on the most recent available information at the time of closing.

SURVEY: Seller shall provide a new survey providing legal description and acreage for the North Tract and South Tract. Aerial tract boundary lines are approximate and are for illustration purposes only.

AERIAL IMAGES: Photos, aerial images, and map drawings are for illustration purposes only and not surveyed boundary lines unless specified.

ACREAGES: The property is being surveyed and the farm will sell per the surveyed acreage. Final acreage and plat of survey will be provided prior to the auction. The farm contains 77.37 taxable acres and 73.69 Total FSA Cropland Acres. Information and farm acreage referenced from the USDA / FSA office and Assessor’s office in Shelby County is assumed to be correct.

MINERAL RIGHTS: Seller shall convey 100% of the mineral rights owned by the seller, if any.

EASEMENTS: Sale of property is subject to any and all recorded or apparent easements.

CONDITIONS OF THE AUCTION: The Auctioneer’s decision is final in the event of a dispute over any Auction matter. The Auctioneer reserves the right to accept bids in any increments he feels are in the best interest of his clients and reserve the right to waive any previously printed or announced requirements. All Auction day announcements by the Auctioneer supersede any printed material or any other Auction statements made previously. The Auctioneer reserves the right to bid on behalf of any buyer. All Auction Sales Contracts will be presented to the seller for approval. The Auctioneer reserves the right to withdraw any property from the Auction, without penalty. Auctioneer may elect to cancel the Auction without penalty if Auctioneer believes that the outcome will not be in the Seller’s best interest. If Seller is not present, the Auctioneer may elect to start or cancel the Auction without penalty. The Auctioneer shall be held harmless by buyer and seller should the property fail to go to a successful settlement for any reason. The seller, Auctioneer, and its agents shall not be held liable for any errors or omissions regarding Auction property. Buyer assumes responsibility to check with the appropriate authority/authorities regarding the property’s zoning and current or future intended use as well as any restrictions or covenants affecting the property. Auctioneer complies with all federal, state, and local laws regarding the buying and selling of property.

TECHNICAL ISSUES DISCLAIMER: In the event there are technical difficulties related to the server, software, internet or any other online auction-related technologies, Geswein Farm & Land Realty, LLC reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software, nor Geswein Farm & Land Realty, LLC, shall be held responsible for a missed bid or the failure of the software to function properly for any reason.

CONDUCT OF THE AUCTION: Bid increments will be at the sole discretion of the auctioneer. Geswein Farm & Land Realty, LLC and the Seller reserves the right to reject any and all bids for any reason and also reserves the right to cancel this auction or remove any item or lot from this auction prior to the close of bidding. All decisions of Geswein Farm & Land Realty, LLC are final.

RELEASE OF LIABILITY: Attendees agree to observe and obey all rules, warnings, and oral instructions or directions given by Geswein Farm & Land Realty, LLC and/or auction house. Attendees hereby release, waive, and forever discharge any and all liability, claims, and demands of whatever kind or nature against Geswein Farm & Land Realty, LLC and its affiliated partners and sponsors, including in each case, without limitation, their directors, officers, employees, volunteers, and agents (the “released parties”) either in law or in equity, to the fullest extent permissible by law, including but not limited to damages or losses caused by the negligence, fault, or conduct of any kind on the part of the released parties, including but not limited to death, bodily injury, illness, economic loss, or out of pocket expenses, or loss or damage to property, which attendees, heirs, assignees, next of kin and/or legally appointed or designated representatives, may have or which may hereinafter accrue on my behalf, which arise or may hereafter arise from my attendance and/or participation.

PROPERTY INSPECTION: Every potential Bidder is responsible for conducting, at their own risk, their own independent inspections, due diligence, investigations, and inquiries concerning the property. Inspections may be scheduled with auction personnel. Further, Seller, Seller’s Agent, and Auctioneer disclaim any and all responsibility for Bidders safety during any physical inspection of the property. No party shall be deemed an invitee of the property by virtue of the offering of the property for sale. 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, auctioneer or real estate agency. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in the brochure 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 auction company, auctioneer, or real estate agency. All sketches and dimensions in this brochure are approximate. All acreages are approximate and have been estimated based on legal descriptions or aerial photographs. Conduct at the auction and increments of bidding are at the direction and discretion of the auction company and/or auctioneer. The seller & sellers agent reserve the right to preclude any person from bidding if there are any questions as to the person’s credentials, fitness, etc. All decisions of the auction company or seller agent are final. Bidder expressly warrants the purchase is being made in AS IS CONDITION and solely based upon Bidder’s examination of the Property and without any expressed or implied warranties of the Auction Company or Seller. The property is sold, and the Bidder agrees to accept the Property in its present condition, AS IS, with all faults, in all respects, subject to utility easements, zoning ordinances, and any other restrictions of record. No warranties as to physical condition, environmental condition, habitability, suitability to a particular purpose, tenancies, or compliance with any laws, codes, or ordinances, including those relating to water supplies and septic systems (“Deficiencies”) are made by the Seller unless stated otherwise. Any and all cost and responsibility for curing Deficiencies, if any, is the Bidder’s, and the correction and cure of any Deficiencies shall not be a condition of this sale or affect the Bidder’s obligations under this Contract.

AGENCY & AUCTIONEER: Auctioneer John R. Klemme and Geswein Farm & Land Realty LLC are exclusive agents of the seller. License # IL 441.002505

Geswein Farm & Land Realty

1100 N 9th St., Lafayette IN 47904

auctions@gfarmland.com

765-426-6666

SELLER: The Miller Family, et al.

LEGAL: (Abbrev.) Part of the W 1/2 of the NW 1/4 of Section 4, Township, 10 North, Range 3 East of the 3rd Principal Meridian, Lakewood Township, Shelby County, IL. Final legal description and acreage subject to survey.