TERMS & CONDITIONS

PROCEDURE: This is an Online Only Auction for 53.68 more or less acres in Johnson County, KS.  The 53.68 more or less acres will be offered in two (2) tracts.  Tract 1 will be for 14.02 more or less acres and Tract 2 will be for 39.66 more or less acres. Online bidding will take place beginning at 10:00 am CST Monday, August 3rd, 2026, and will "soft close" at 10:00 am CST Thursday, August 6th, 2026.  At 9:55 am CST on Thursday, August 6th, 2026, bidding will continue in five-minute increments until five minutes have passed with no new bids.  Rural Realty Agents will be at The Greenspace, Edgerton, KS from 9:00 am until the conclusion of the online auction.  Please come during the scheduled time to discuss the property.  Rural Realty will be there to assist any 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.auction.ruralrealtyco.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 Rural Realty, Inc. before you can bid.  You must agree to the auction terms and conditions during the registration process.

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

BUYERS PREMIUM: There will be a one percent (1%) buyer’s premium that will be added on to the final bid price of each tract, paid by the Buyer to Rural Realty, Inc. at closing.

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: 2025 and prior years taxes paid by Seller.  The 2026 taxes will be prorated to the closing date.  All future taxes will be the responsibility of the Buyer.

CROPS: The growing crop will stay with the Tenant.

CLOSING: Will take place on or before September 7th, 2026, or as soon as possible.

CLOSING EXPENSES: Seller shall be responsible for the costs of preparing the Deed.  Buyer shall be responsible for the filing fees for purposes of recording the Deed.  Closing agent fee shall be divided equally between the Seller and Buyer. First American Title – Overland Park will be the closing agent.

POSSESSION: Possession will occur after the soybeans have been harvested. Subject to Tenant Rights.

CONVEYANCE INSTRUMENT: Seller shall execute a Special Warranty Deed (and Bill of Sale if personal property is included) transferring and conveying said property to Buyer(s), 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 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.  Buyer 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: Any mineral rights owned by the Seller will be transferred to the buyer at closing.

AGENCY: Rural Realty, Inc. and its representatives are exclusive agents of the Seller.

BUYER’S AGENTS: Rural Realty will not be sharing/splitting commissions with any Buyer’s Agents.  Buyers will need to pay their buyer’s agents directly.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in the promotion and advertisement of the auction is believed to be accurate but is subject to verification by all parties relying on it.  No liability for 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 Supervising Broker Alec Horton at 620-214-2417.  In accepting the terms and conditions for the use of our website, you agree to not hold Rural Realty, Inc., 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 Alec Horton at 620-214-2417 for assistance in placing your bid.

SELLERS: Donna June Saldana & Kimberly Kristine Langford