Common use of TERMS OF SALE OUTLINED Clause in Contracts

TERMS OF SALE OUTLINED. 6. An xxxxxxx money deposit is due at the close of auction in the amount of 10% of the purchase price (or 20% if you intend to begin farming activities prior to closing). A cashier's check or a personal or corporate check immediately negotiable is satisfactory for the xxxxxxx money. The balance of the purchase price is due in cash at closing. 7. The closing will be scheduled in accordance with the Agreement to Purchase in your Bidder’s Packet. The targeted closing period is on or before April 9, 2021. 8. Delivery of title and possession will be effective upon completion of the closing. 9. Buyer may begin farming activities prior to closing in accordance with the terms and conditions of the Pre-Closing Access Addendum which is included in each Bidder’s Packet as Exhibit C. In order to obtain access prior to closing, Buyer must sign Exhibit C, deliver an additional 10% xxxxxxx money deposit (for a total of 20%) and provide proof of insurance. 10. Tracts 4, 5 & 6: The Buyer(s) of Tracts 4, 5 and 6 will acquire the rights to the growing wheat crop in accordance with Section 12 of the Agreement to Purchase. Reimbursement for wheat crop input expenses will be collected from these Buyer(s) at closing. The reimbursement amounts are shown in Table B-2, below. Invoices are available to review upon request. 11. Closing costs and expenses will be allocated and paid in accordance with Sections 17 and 18 of the Agreement to Purchase. 12. At closing, Seller will pay real estate taxes and special assessments for the calendar year 2020 (including 2020 taxes due in 2021), or the estimated amount thereof, in accordance with the Agreement to Purchase. Buyer will then assume and pay all real estate taxes and assessments after closing. 13. At closing, Seller will furnish the deed and owner’s title insurance at Seller’s expense in accordance with the terms of the Agreement to Purchase. 14. The title is to be conveyed and the title insurance is to be issued free and clear of Liens, but subject to all easements and all other “Permitted Exceptions” as defined in Section 9 of the Agreement to Purchase. 15. Without limiting Section 9 of the Agreement to Purchase, Buyer agrees to acquire the purchased tract(s) subject to all easements and other matters (except Liens) that are referenced in the Preliminary Title Evidence. 16. The Preliminary Title Evidence consists of the preliminary title insurance schedules, pre-auction surveys and parcel map described in Table B-1, below: TABLE B-1 Preliminary Title Insurance Schedules: Surveys & Tr. 9 Parcel Map: Tracts 1 - 2: Title Underwriters SS290839COM 01/14/2021 Heritage Engineering 01/12/2021 Tract 3: Heritage Engineering 12/16/2020 Tracts 4 - 6: Title Underwriters BB290787COM 01/20/2021 Heritage Engineering 01/27/2021 Tract 7: Heritage Engineering 01/11/2021 Tract 8: Title Underwriters WW290834COM 01/07/2021 Heritage Engineering 01/19/2021 Tract 9: Title Team Group RR290852 01/19/2021 Xxxxx & Associates 01/18/2021 17. All of the Preliminary Title Evidence has been posted to the auction website prior to the auction, along with copies of the recorded easements and other documents listed as exceptions. Printed copies of the Preliminary Title Evidence and recorded documents are available to review in the auction information area. 18. Certain title exceptions are specifically disclosed in this Exhibit B. However, the Preliminary Title Evidence refers to additional easements and title exceptions that are not specifically mentioned in this Exhibit B. 19. All tracts are sold and will be conveyed based on the applicable pre-auction survey or parcel map, without obtaining any post-auction surveys. 20. Buyer will pay one-half of the pre-auction survey costs for the applicable tract(s). The amount of Buyer’s one-half share for each tract is shown in Table B-2, below. 21. As an update to the marketing materials, the acre estimates have been revised for all tracts based on the pre-auction surveys and parcel map, as shown in Exhibit A and Table B-2. Exhibit A also reflects minor adjustments to the depiction of the southeast boundary of Tract 5, the common boundary between Tracts 4 and 5 and the common boundary between Tracts 5 and 6 (based on the pre-auction survey). 22. Table B-2, below, shows: (a) the revised acre estimates for all tracts as shown in the pre-auction surveys and Exhibit A; (b) the Buyer’s one-half share of survey costs for each tract; and (c) the wheat expense reimbursement amounts for Tracts 4, 5 and 6: TABLE B-2 Advertised Acres (±) Revised Acres (±) 1/2 Share of Survey Costs Wheat Expense Reimbursement Tract 1: 57.9 57.88 $187.50 ‐‐ Tract 2: 30.8 30.861 $187.50 ‐‐ Tract 3: 163.5 163.457 $600.00 ‐‐ Tract 4: 98.5 99.501 $283.50 $11,956.00 Tract 5: 50 50.875 $283.50 $929.00 Tract 6: 75 74.607 $283.50 $8,984.00 Tract 7: 35.9 35.909 $450.00 ‐‐ Tract 8: 51.2 51.172 $970.00 ‐‐ Tract 9: 12.2 12.22 $194.00 ‐‐ Total: 575 576.482 $3,439.50 $21,869.00 23. The revised acre estimates shown in Exhibit A and Table B-2 are based on the pre- auction surveys and parcel map. The wheat expense reimbursement amounts shown in Table B-2 represent an approximate allocation based on estimated tillable acres. No promise or warranty is made as to the number of gross acres or tillable acres included with any tract or set of tracts. The purchase price and wheat expense reimbursement amounts will not be subject to adjustment regardless of the number of acres shown in any survey or other record created before or after the auction. 24. Boundary lines and auction tract maps depicted in Exhibit A and the auction marketing materials are approximations provided for identification and illustration purposes only. They are not provided as survey products and are not intended to depict or establish authoritative boundaries or locations. 25. If a dispute arises prior to closing as to the location of any boundary, the Auction Company may (but need not) terminate the purchase contract by giving written notice of termination to Buyer, but only with the Seller’s consent. In the event of such termination, the xxxxxxx money shall be refunded to Buyer and the property may be re-sold free and clear of any claim of Buyer. In lieu of consenting to such termination, Seller may elect instead to enforce the purchase contract according to its terms. 26. Tracts 1 & 2: According to the Preliminary Title Evidence, at least 50% of the mineral rights with respect to Tracts 1 and 2 have been reserved by prior owner(s). 27. Tract 5: Advertised building dimensions are approximate. No warranty or authoritative representation is made as to the size or dimensions of any structure. 28. Tract 8: Tract 8 is subject to all building setbacks, easements and other matters shown in a subdivision plat recorded in 2008 and identified as Plat No. 1 of City East. Access between Xxxxx 0 xxx Xxxx Xxxxx Xxxxxx is limited to the intersection of East State Street and the undeveloped street identified in the plat as Xxxxxx Place. The undeveloped street identified as Xxxxxx Place is excluded from Tract 8. However, Seller shall have the right to quitclaim the Xxxxxx Place corridor to the Buyer of Tract 8 if deemed appropriate in Seller’s sole discretion. 29. Tract 8: The pre-auction survey refers to an ordinance annexing Tract 8 to the Village of Cherry Valley. A copy of this ordinance is available to review in the auction information area.

TERMS OF SALE OUTLINED. 67. An Buyer shall deliver an xxxxxxx money deposit is due at the close of auction to Auction Company in the amount of 10% of the purchase price (or 20% if you intend to begin farming activities prior to closing)price. A cashier's The xxxxxxx money may be delivered by check or a personal wire transfer, but it must be received by Auction Company on or corporate check immediately negotiable is satisfactory for the xxxxxxx moneybefore Wednesday, September 30, 2020. 8. The balance of the purchase price is due in cash at closing. 7. The closing will , to be scheduled in accordance with the Agreement to Purchase in your Bidder’s PacketPurchase. The targeted closing period is on or before April 9October 29, 2021. 8. Delivery of title and possession will be effective upon completion of the closing2020. 9. The closing agent’s fee to administer the closing will be shared equally (50:50) between Xxxxx and Sellers. Buyer may begin farming activities prior to closing in accordance with the terms and conditions will pay all costs of the Pre-Closing Access Addendum which is included in each Bidder’s Packet as Exhibit C. In order to obtain access prior to closing, Buyer must sign Exhibit C, deliver an additional 10% xxxxxxx money deposit (for a total of 20%) and provide proof of insuranceany loan obtained by Xxxxx. 10. Tracts 4, 5 & 6: The Buyer(s) of Tracts 4, 5 and 6 Real estate taxes will acquire the rights be prorated to the growing wheat crop in accordance with Section 12 date of the Agreement to Purchase. Reimbursement for wheat crop input expenses will be collected from these Buyer(s) at closing. The reimbursement amounts are shown Buyer will pay drainage assessments due in Table B-2, below. Invoices are available to review upon request2021 and thereafter. 11. Closing costs and expenses will be allocated and paid in accordance with Sections 17 and 18 of the Agreement to Purchase. 12. At closing, Seller will pay real estate taxes and special assessments for the calendar year 2020 (including 2020 taxes due in 2021), or the estimated amount thereof, in accordance with the Agreement to Purchase. Buyer will then assume and pay all real estate taxes and assessments after closing. 13. At closing, Seller Sellers will furnish the deed and owner’s title insurance at Seller’s expense in accordance with the terms of the Agreement to Purchase. 14. The title is to be conveyed and the title insurance is to be issued free and clear of Liens, but subject to all easements and all other “Permitted Exceptions” as defined in Section 9 5 of the Agreement to Purchase. 1512. Without limiting Section 9 of the Agreement to Purchase, Buyer Xxxxx agrees to accept the title and acquire the purchased tract(s) subject to all easements and other matters (except Liens) that are referenced notwithstanding any matter described as a “Permitted Exception” in Section 6 of the Preliminary Title EvidenceAgreement to Purchase. 1613. The Preliminary title insurance schedules dated September 1, 2020 have been prepared by Guardian Title Evidence consists Company and posted to the auction website. 14. A copy of the preliminary title insurance schedules, pre-auction surveys and parcel map described in Table B-1, below: TABLE B-1 Preliminary Title Insurance Schedules: Surveys & Tr. 9 Parcel Map: Tracts 1 - 2: Title Underwriters SS290839COM 01/14/2021 Heritage Engineering 01/12/2021 Tract 3: Heritage Engineering 12/16/2020 Tracts 4 - 6: Title Underwriters BB290787COM 01/20/2021 Heritage Engineering 01/27/2021 Tract 7: Heritage Engineering 01/11/2021 Tract 8: Title Underwriters WW290834COM 01/07/2021 Heritage Engineering 01/19/2021 Tract 9: Title Team Group RR290852 01/19/2021 Xxxxx & Associates 01/18/2021 17. All recorded Plat of the Preliminary Title Evidence Lorntz Subdivision has been posted to the auction website showing the boundary lines and set back lines for Auction Tracts 2 and 3. 15. Possession shall be delivered at closing except as otherwise provided below with respect to the cropland on Tract 1 and the grain bins on Tract 3. 16. The Buyer of Tract 1 agrees to take possession of the cropland subject to the rights of the current farm tenant for the remainder of the 2020 crop year. Sellers are retaining all rights to the 2020 farm rent. 17. The Buyer of Tract 1 may elect to have hunting privileges prior to closing in accordance with the auctionterms of Addendum B. If Buyer so elects, along with copies Buyer must sign Addendum B and provide proof of the recorded easements and other documents listed as exceptions. Printed copies of the Preliminary Title Evidence and recorded documents are available to review in the auction information areainsurance. 18. Certain Two grain bins currently located on Tract 3 were sold prior to the real estate auction. If the third-party purchaser of the grain bins has not removed the grain bins from Tract 3 prior to the Tract 3 closing: (a) the Buyer of Tract 3 agrees to take title exceptions are specifically disclosed in this Exhibit B. Howeverand possession of Tract 3 subject to the rights of the grain bin purchaser, including the right to enter upon Tract 3 to remove the grain bins; (b) the rights of Sellers with respect to the obligations of the grain bin purchaser shall be assigned to the Buyer of Tract 3 effective automatically as of the completion of the closing, without the execution of a separate instrument of assignment; and (c) the Buyer of Tract 3 shall be responsible for the enforcement of such obligations after closing (including all obligations of the grain bin purchaser regarding the disassembly and removal of the grain bins); provided, however, the Preliminary Title Evidence refers Buyer of Tract 3 agrees to additional easements and title exceptions that are not specifically mentioned in this Exhibit B.take no such enforcement action until after November 28, 2020. 19. All tracts are sold A new survey shall be obtained if and only if: (a) the official(s) responsible for recording the deed will not accept the conveyance for recording without a new survey; or (b) Sellers elect to obtain a new survey for any other reason in Sellers’ sole discretion. If a new survey is obtained, the survey shall be conveyed based on ordered by the applicable pre-auction Auction Company and shall be sufficient for the purpose of recording the conveyance, but the type of survey or parcel map, without obtaining shall otherwise be determined solely by the Sellers. The cost of any post-auction surveyssurvey obtained in accordance with this Addendum A shall be shared equally (50:50) by Xxxxxxx and Xxxxx. 20. Buyer will pay one-half If Tract 1 is sold by itself, and if a new perimeter survey of Tract 1 is obtained in accordance with the pre-auction survey costs provisions of this Addendum A, the purchase price for Tract 1 shall be adjusted proportionately to reflect the applicable tract(s). The amount of Buyer’s one-half share for each tract is difference, if any, between the acre estimate shown in Table B-2, belowExhibit A and the gross acres shown in the survey. 21. As Instead of an update to easement (as originally shown in the marketing materials), Tract 1 has direct access to the county road by means of a 40-foot wide corridor which is owned by Sellers according to the legal description provided by the title company. The revised boundaries of Tract 1 are approximately depicted in Exhibit A. 22. The 40-foot wide access corridor is not shown in the county GIS map. However, this corridor is depicted in a survey of the adjoining property, as shown in Information Exhibit A-1. 23. As shown in Exhibit A, the acre estimates have been revised for all tracts based on purposes of the pre-auction surveys and parcel map, as follows: 24. The acre estimate shown in Exhibit A and Table B-2. Exhibit A also reflects minor adjustments to the depiction of the southeast boundary of for Tract 5, the common boundary between Tracts 4 and 5 and the common boundary between Tracts 5 and 6 (1 is based on the pre-auction survey). 22. Table B-2, below, shows: (a) approximate acres indicated by the revised acre estimates for all tracts as shown in the pre-auction surveys and Exhibit A; (b) the Buyer’s one-half share of survey costs for each tract; and (c) the wheat expense reimbursement amounts for Tracts 4, 5 and 6: TABLE B-2 Advertised Acres (±) Revised Acres (±) 1/2 Share of Survey Costs Wheat Expense Reimbursement Tract 1: 57.9 57.88 $187.50 ‐‐ Tract 2: 30.8 30.861 $187.50 ‐‐ Tract 3: 163.5 163.457 $600.00 ‐‐ Tract 4: 98.5 99.501 $283.50 $11,956.00 Tract 5: 50 50.875 $283.50 $929.00 Tract 6: 75 74.607 $283.50 $8,984.00 Tract 7: 35.9 35.909 $450.00 ‐‐ Tract 8: 51.2 51.172 $970.00 ‐‐ Tract 9: 12.2 12.22 $194.00 ‐‐ Total: 575 576.482 $3,439.50 $21,869.00 23existing legal descriptions. The revised acre estimates acres shown in Exhibit A for Tracts 2 and Table B-2 3 are based on the pre- auction surveys and parcel map. The wheat expense reimbursement amounts acres shown in Table B-2 represent an approximate allocation based on estimated tillable acresthe recorded subdivision plat. No promise warranty or warranty authoritative representation is made as to the number of gross acres or tillable acres included with any tract or set of tracts. The purchase price and wheat expense reimbursement amounts will not be subject to adjustment regardless of the number of acres shown in any survey or other record created before or after the auction. 2425. Boundary lines and auction tract maps depicted in Exhibit A and A, Information Exhibit A-1 and/or the auction marketing materials are approximations provided for identification and illustration purposes only. They are not provided as survey products and are not intended to depict or establish authoritative boundaries or locations. 2526. If a dispute arises prior to closing as to the location of any boundary, the Auction Company may (but need not) terminate the purchase contract by giving written notice of termination to Buyer, but only with the Seller’s Sellers’ consent. In the event of such termination, the xxxxxxx money shall be refunded to Buyer and the property may be re-sold free and clear of any claim of Buyer. In lieu of consenting to such termination, Seller Sellers may elect instead to enforce the purchase contract according to its terms. 26. Tracts 1 & 2: According to the Preliminary Title Evidence, at least 50% of the mineral rights with respect to Tracts 1 and 2 have been reserved by prior owner(s). 27. Tract 5: Advertised building square footages and dimensions are approximate. No warranty or authoritative representation is made as to the size or dimensions of any structure. 28. Tract 8: 2 is connected to and served by the electric meter on Tract 8 is subject 3. If Tracts 2 and 3 are purchased by separate Buyers, a new electric meter, line and pole will be installed on Tract 2 prior to all building setbacks, easements closing at the expense of Sellers. 29. The LP tanks previously located on Tract 2 have been sold and other matters shown in a subdivision plat recorded in 2008 and identified as Plat Noremoved. 1 The Buyer of City EastTract 2 will need to buy or rent an LP tank for the home. 30. Access between Xxxxx 0 xxx Xxxx Xxxxx Xxxxxx is limited The Seller’s Residential Real Estate Sales Disclosure form for the home on Tract 2 has been posted to the intersection of East State Street auction website and sent with the undeveloped street identified in Bidder’s Packets distributed via mail and/or email prior to the plat as Xxxxxx Placeauction. The undeveloped street identified as Xxxxxx Place is excluded from Tract 8. However, Seller This form shall have the right to quitclaim the Xxxxxx Place corridor to be signed by the Buyer of Tract 8 if deemed appropriate in Seller’s sole discretion2 at the end of the auction. 2931. Your bids are to be based solely upon your inspection. All tracts are sold AS IS (except as otherwise provided above regarding the electric service to Tract 82). Without limiting the foregoing provisions, Buyer acknowledges that: a. Seller shall have no obligation, before or after closing, to clean up Tract 3 or to remove any scrap iron, silos, concrete foundations or other items of personal property, refuse or debris left on Tract 3. b. No warranty or authoritative representation is made as to: (i) zoning matters; (ii) whether or not the property qualifies for any particular use; (iii) the availability or location of utilities; (iv) the availability of any building permit, driveway permit, septic permit or any other permit; or (v) the accuracy of any materials or information prepared or provided by any third party. 32. At the close of the auction, each high bidder shall execute a purchase contract consisting of the Agreement to Purchase, Exhibit A, this Addendum A and (if applicable) Addendum B. The preterms of these documents are non-auction survey refers to an ordinance annexing Tract 8 to negotiable. 33. You will be closing on the Village tract or combination of Cherry Valley. A copy of this ordinance is available to review tracts on which you are the successful bidder in the manner in which you bid at the auction. Deeds shall be recorded in the order designated by the Sellers. 34. Xxxxxxxx Real Estate and Auction Company, Inc. and its agents and representatives are exclusively the agents of the Sellers. Thank you for your interest in this offering. If you have any questions, please feel free to talk to one of our representatives. ANY ANNOUNCEMENTS MADE BY THE AUCTIONEER TAKE PRECEDENCE OVER THIS PRINTED MATERIAL. This Addendum is executed in connection with an Agreement to Purchase, including all exhibits and addendums (collectively the “Purchase Agreement”), pursuant to which the undersigned Buyer(s) (hereinafter “Buyer”, whether one or more) has/have agreed to purchase from Xxxxx X. Xxxxxx and Xxxxxxx X. Xxxxxx (collectively, “Seller”) the real estate identified in the Purchase Agreement (the “Real Estate”), being one or more of the tracts located in Steuben County, Indiana and put up for bids at the public auction information areaconducted on September 29, 2020.

TERMS OF SALE OUTLINED. 67. An xxxxxxx money deposit is due at the close of auction in the amount of 10% of the purchase price (or 20% if you intend to begin fall farming activities prior to closing). A cashier's check or a personal or corporate check immediately negotiable is satisfactory for the xxxxxxx money. The balance of the purchase price is due in cash at closing. 78. The closing will be scheduled in accordance with the Agreement to Purchase in your Bidder’s Packet. The targeted closing period is on or before April 9October 28, 2021. 8. Delivery of title and possession will be effective upon completion of the closing2022. 9. The closing agent’s fee to administer the closing will be shared equally (50:50) between Xxxxx and Seller. Buyer may begin farming activities prior to will pay all costs of any loan obtained by Xxxxx. 10. The real estate taxes and drainage assessments due in November 2022 and the estimated amount of the 2022 taxes due in 2023 will be paid by Seller at the time of closing in accordance with the terms and conditions of the Pre-Closing Access Addendum which is included in each Bidder’s Packet as Exhibit C. In order to obtain access prior to closing, Buyer must sign Exhibit C, deliver an additional 10% xxxxxxx money deposit (for a total of 20%) and provide proof of insurance. 10. Tracts 4, 5 & 6: The Buyer(s) of Tracts 4, 5 and 6 will acquire the rights to the growing wheat crop in accordance with Section 12 of the Agreement to Purchase. Reimbursement for wheat crop input expenses will be collected from these Buyer(s) at closing. The reimbursement amounts are shown in Table B-2, below. Invoices are available to review upon request. 11. Closing costs and expenses will be allocated and paid in accordance with Sections 17 and 18 3 of the Agreement to Purchase. 12. At closing, Seller will pay real estate taxes and special assessments for the calendar year 2020 (including 2020 taxes due in 2021), or the estimated amount thereof, in accordance with the Agreement to Purchase. Buyer will then assume and pay all real estate taxes and assessments after closing. 1311. At closing, Seller will furnish the deed and owner’s title insurance at Seller’s expense in accordance with the terms of Section 5 of the Agreement to Purchase. 1412. The title is to be conveyed and the title insurance is to be issued free and clear of Liensany mortgages, but subject to all easements and all other “Permitted Exceptions” as defined in Section 9 6 of the Agreement to Purchase. 1513. Without limiting Section 9 of the Agreement Preliminary title insurance schedules dated June 24, 2022 have been prepared by Freedom Title Company and are available to Purchase, Buyer agrees to acquire the purchased tract(s) subject to all easements and other matters (except Liens) that are referenced review in the Preliminary Title Evidence. 16. The Preliminary Title Evidence consists of the preliminary title insurance schedules, pre-auction surveys and parcel map described in Table B-1, below: TABLE B-1 Preliminary Title Insurance Schedules: Surveys & Tr. 9 Parcel Map: Tracts 1 - 2: Title Underwriters SS290839COM 01/14/2021 Heritage Engineering 01/12/2021 Tract 3: Heritage Engineering 12/16/2020 Tracts 4 - 6: Title Underwriters BB290787COM 01/20/2021 Heritage Engineering 01/27/2021 Tract 7: Heritage Engineering 01/11/2021 Tract 8: Title Underwriters WW290834COM 01/07/2021 Heritage Engineering 01/19/2021 Tract 9: Title Team Group RR290852 01/19/2021 Xxxxx & Associates 01/18/2021 17. All of the Preliminary Title Evidence has been posted to the auction website prior to the auctiondisplay area, along with copies of the recorded easements and other documents listed as exceptions. 14. Printed copies Delivery of possession shall be effective upon completion of the Preliminary Title Evidence and recorded documents are available to review in closing except as follows: a. Possession of the auction information areacropland shall be delivered effective as of the later of the completion of closing or the removal of the 2022 bean crop. 18. Certain title exceptions are specifically disclosed in this Exhibit B. Howeverb. Possession of the barn on Tract 2, the Preliminary Title Evidence refers to additional easements barn and title exceptions that are not specifically mentioned in this Exhibit B. 19. All tracts are sold grain center on Tract 12 and will be conveyed based on the applicable pre-auction survey or parcel map, without obtaining any post-auction surveys. 20. Buyer will pay one-half of the pre-auction survey costs for the applicable tract(s). The amount of Buyer’s one-half share for each tract is shown in Table B-2, below. 21. As (as an update to the marketing materials) the barn on Tract 10 shall be delivered effective as of January 15, 2023. c. Possession of Tract 8 shall be delivered subject to: (i) the acre estimates have been revised for all tracts based on rights of the preexisting month-auction surveys and parcel map, as shown in Exhibit A and Table B-2. Exhibit A also reflects minor adjustments to-month tenant with respect to the depiction of the southeast boundary of Tract 5, the common boundary between Tracts 4 house and 5 and the common boundary between Tracts 5 and 6 (based on the pre-auction survey). 22. Table B-2, below, shows: (a) the revised acre estimates for all tracts as shown in the pre-auction surveys and Exhibit A; (b) the Buyer’s one-half share of survey costs for each tractbarn; and (cii) Seller’s post- closing right of access to (and right to continue using a portion of) the wheat expense reimbursement amounts for Tracts 4barn until January 15, 5 and 6: TABLE B-2 Advertised Acres (±) Revised Acres (±) 1/2 Share of Survey Costs Wheat Expense Reimbursement Tract 1: 57.9 57.88 $187.50 ‐‐ Tract 2: 30.8 30.861 $187.50 ‐‐ Tract 3: 163.5 163.457 $600.00 ‐‐ Tract 4: 98.5 99.501 $283.50 $11,956.00 Tract 5: 50 50.875 $283.50 $929.00 Tract 6: 75 74.607 $283.50 $8,984.00 Tract 7: 35.9 35.909 $450.00 ‐‐ Tract 8: 51.2 51.172 $970.00 ‐‐ Tract 9: 12.2 12.22 $194.00 ‐‐ Total: 575 576.482 $3,439.50 $21,869.00 23. The revised acre estimates shown in Exhibit A and Table B-2 are based on the pre- auction surveys and parcel map. The wheat expense reimbursement amounts shown in Table B-2 represent an approximate allocation based on estimated tillable acres. No promise or warranty is made as to the number of gross acres or tillable acres included with any tract or set of tracts. The purchase price and wheat expense reimbursement amounts will not be subject to adjustment regardless of the number of acres shown in any survey or other record created before or after the auction2023. 24. Boundary lines and auction tract maps depicted in Exhibit A and the auction marketing materials are approximations provided for identification and illustration purposes only. They are not provided as survey products and are not intended to depict or establish authoritative boundaries or locations. 25. If a dispute arises prior to closing as to the location of any boundary, the Auction Company may (but need not) terminate the purchase contract by giving written notice of termination to Buyer, but only with the Seller’s consent. In the event of such termination, the xxxxxxx money shall be refunded to Buyer and the property may be re-sold free and clear of any claim of Buyer. In lieu of consenting to such termination, Seller may elect instead to enforce the purchase contract according to its terms. 26. Tracts 1 & 2: According to the Preliminary Title Evidence, at least 50% of the mineral rights with respect to Tracts 1 and 2 have been reserved by prior owner(s). 27. Tract 5: Advertised building dimensions are approximate. No warranty or authoritative representation is made as to the size or dimensions of any structure. 28. Tract 8: Tract 8 is subject to all building setbacks, easements and other matters shown in a subdivision plat recorded in 2008 and identified as Plat No. 1 of City East. Access between Xxxxx 0 xxx Xxxx Xxxxx Xxxxxx is limited to the intersection of East State Street and the undeveloped street identified in the plat as Xxxxxx Place. The undeveloped street identified as Xxxxxx Place is excluded from Tract 8. However, Seller shall have the right to quitclaim the Xxxxxx Place corridor to the Buyer of Tract 8 if deemed appropriate in Seller’s sole discretion. 29. Tract 8: The pre-auction survey refers to an ordinance annexing Tract 8 to the Village of Cherry Valley. A copy of this ordinance is available to review in the auction information area.

TERMS OF SALE OUTLINED. 67. All bidding is based on the terms of the Agreement to Purchase and Exhibits A through F which have been posted to the auction website and are included in each Bidder’s Packet. These documents contain the final terms for purposes of the Auction. All prior statements are subject to and superseded by the terms of the Agreement to Purchase and Exhibits A through F. In this Exhibit B, the symbol “AP§” is used to refer to a particular section of the Agreement to Purchase. Any term not otherwise defined in this Exhibit B shall have the meaning attributed to such term in the Agreement to Purchase. 8. A Buyer’s Premium equal to 3% of the high bid amount will be charged to each Buyer and added to the bid amount to arrive at the Purchase Price. 9. An xxxxxxx money Xxxxxxx Money deposit is due at the close of auction in the amount of 10% of the purchase price (or 20% if you intend to begin farming activities prior to closingfor Pre-Closing Access, as explained below). A cashier's check or a personal or corporate check immediately negotiable is satisfactory for the xxxxxxx money. At the end of the auction, each Buyer will be required to sign an agreement regarding the Xxxxxxx Money in the form of Exhibit D in your Bidder’s Packet. 10. The balance of the purchase price Purchase Price is due in cash at closing. 7Closing. The closing Closing will be scheduled in accordance with the Agreement to Purchase in your Bidder’s PacketAP§ 20. The targeted closing period is on or before April 9May 11, 2021. 811. Delivery of title and possession will be effective upon completion of the closingClosing. 912. Buyer may begin Pre-Closing Access is available for crop farming activities prior to closing and/or lawful hunting activities in accordance with the terms and conditions of the Pre-Closing Access Addendum which is included in each Bidder’s Packet as Exhibit C. F. In order to obtain access prior to closingPre-Closing Access, Buyer must sign and deliver Exhibit CF, deliver an additional 10% xxxxxxx money deposit Additional Xxxxxxx Money (for a total of 20%) and provide proof of insurance. Pre-Closing Access does not apply to Tracts 5, 7, 10 and 21. 10. Tracts 4, 5 & 6: The Buyer(s) of Tracts 4, 5 and 6 will acquire the rights to the growing wheat crop in accordance with Section 12 of the Agreement to Purchase. Reimbursement for wheat crop input expenses will be collected from these Buyer(s) at closing. The reimbursement amounts are shown in Table B-2, below. Invoices are available to review upon request. 1113. Closing costs and expenses will be allocated and paid in accordance with Sections 17 AP§ 21 and 18 of the Agreement to PurchaseAP§ 22. Property taxes and assessments will be allocated and paid in accordance with AP§ 23. 1214. At closingIn accordance with AP§ 23, Seller will pay real estate the property taxes and special assessments for the calendar year 2020 (including 2020 taxes due in 2021), 2021 (or the estimated amount thereof, ) at the time of closing. There will be no proration of 2021 property taxes due in accordance with the Agreement to Purchase. Buyer will then assume and pay all real estate taxes and assessments after closing. 13. At closing, Seller will furnish the deed and owner’s title insurance at Seller’s expense in accordance with the terms of the Agreement to Purchase. 14. The title is to be conveyed and the title insurance is to be issued free and clear of Liens, but subject to all easements and all other “Permitted Exceptions” as defined in Section 9 of the Agreement to Purchase2022. 15. Without limiting Section 9 of the Agreement to Purchase, Buyer agrees to acquire the purchased tract(s) subject to all easements and other matters (except Liens) that are referenced in the Preliminary Spears Title Evidence. 16. The Company has prepared Preliminary Title Evidence consists consisting of the preliminary title insurance schedules, pre-auction surveys and parcel map described schedules identified in Table B-1, below: TABLE B-1 Preliminary Title Insurance Schedules: Surveys & Tr. 9 Parcel Map: Tracts 1 - 2: Title Underwriters SS290839COM 01/14/2021 Heritage Engineering 01/12/2021 Tract 3: Heritage Engineering 12/16/2020 Tracts 4 - 6: Title Underwriters BB290787COM 01/20/2021 Heritage Engineering 01/27/2021 Tract 7: Heritage Engineering 01/11/2021 Tract 8: Title Underwriters WW290834COM 01/07/2021 Heritage Engineering 01/19/2021 Tract 9: Title Team Group RR290852 01/19/2021 Xxxxx & Associates 01/18/2021 17. All Exhibit E. The information booklets contain earlier versions of the Preliminary Title Evidence has Evidence. Updated versions have been posted to the auction website prior to the auction, along with copies of the recorded easements and other documents listed as exceptionswebsite. Printed copies of the updated Preliminary Title Evidence and recorded documents are available to review in the auction information area, along with copies of the recorded documents listed as exceptions. 16. A Final Title Commitment will be prepared for each Closing in accordance with AP§ 8. The fees charged by the Closing Agent in preparing the Preliminary Title Evidence and the Final Title Commitment will be shared equally (50:50) by Seller and Buyer (including commitment preparation, search fee, title examination and the costs of copies). 17. At the time of closing, Seller will pay the title insurance premium for the issuance of a standard coverage owner’s title insurance policy in accordance with the Final Title Commitment. 18. Certain Buyer agrees to accept the title exceptions are specifically disclosed and acquire the Purchased Tracts subject to all Permitted Exceptions, as defined in this Exhibit B. HoweverAP§ 11. 19. Without limiting AP§ 11, Buyer will take title subject to all easements and other matters referenced in the Preliminary Title Evidence refers to additional easements and title exceptions that and/or Final Title Commitment (most of which are not specifically mentioned in this Exhibit B. 19B). All A mortgage affecting some of the tracts are sold and will be conveyed based on the applicable pre-auction survey or parcel map, without obtaining any post-auction surveyswas recently released of record. 20. Buyer Seller will pay one-half furnish a Special Warranty Deed in accordance with AP§ 12 in the form of Exhibit C. All Minerals and Mining Rights will be excluded from the preconveyance, as provided in AP§ 2 and Exhibit C. 21. A new post-auction survey costs for will be obtained if necessary to record the applicable tract(s)conveyance or if otherwise deemed appropriate by Seller. In any event, a new survey shall be obtained if and only if obtained in accordance with AP§ 9. The amount cost of any such survey shall be shared equally (50:50) by Seller and Buyer’s one-half share for each tract is shown in Table B-2, below. 21. As an update to the marketing materials, the acre estimates have been revised for all tracts based on the pre-auction surveys and parcel map, as shown in Exhibit A and Table B-2. Exhibit A also reflects minor adjustments to the depiction of the southeast boundary of Tract 5, the common boundary between Tracts 4 and 5 and the common boundary between Tracts 5 and 6 (based on the pre-auction survey). 22. Table B-2If a new perimeter survey is obtained for any closing in accordance with AP§ 9, belowthe Purchase Price shall be adjusted proportionately to reflect the difference, shows: (a) if any, between the revised acre estimates for all tracts as shown in the pre-auction surveys and Exhibit A; (b) the Buyer’s one-half share of survey costs for each tract; and (c) the wheat expense reimbursement amounts for Tracts 4, 5 and 6: TABLE B-2 Advertised Acres (±) Revised Acres (±) 1/2 Share of Survey Costs Wheat Expense Reimbursement Tract 1: 57.9 57.88 $187.50 ‐‐ Tract 2: 30.8 30.861 $187.50 ‐‐ Tract 3: 163.5 163.457 $600.00 ‐‐ Tract 4: 98.5 99.501 $283.50 $11,956.00 Tract 5: 50 50.875 $283.50 $929.00 Tract 6: 75 74.607 $283.50 $8,984.00 Tract 7: 35.9 35.909 $450.00 ‐‐ Tract 8: 51.2 51.172 $970.00 ‐‐ Tract 9: 12.2 12.22 $194.00 ‐‐ Total: 575 576.482 $3,439.50 $21,869.00 23. The revised acre estimates shown in Exhibit A and Table B-2 are based on the pre- auction surveys gross acres shown in the survey except with respect to Tract 5 and parcel mapTract 14 or any combination that includes Tract 5 and/or Tract 14. 23. The wheat expense reimbursement amounts acres shown in Table B-2 represent Exhibit A have been estimated based on: (a) the approximate acres shown in the property tax records; and (b) an approximate approximate, provisional allocation based on estimated tillable acresbetween any potential new parcels. No promise warranty or warranty authoritative representation is made as to the number of gross acres or tillable acres included with any tract or set of tracts. The purchase price and wheat expense reimbursement amounts will not be subject to adjustment regardless of the number of acres shown in any survey or other record created before or after the auction. 24. Boundary lines and auction tract maps depicted in Exhibit A and the auction marketing materials are approximations provided for identification and illustration purposes only. They are not provided as survey products and are not intended to depict or establish authoritative boundaries or locations. 25. If a dispute arises prior to closing as to the location of any boundary, the Auction Company may (but need not) terminate the purchase contract Agreement to Purchase by giving written notice of termination to Buyer, but only with the Seller’s consent. In the event of such termination, the xxxxxxx money Xxxxxxx Money shall be refunded to Buyer and the property may be re-sold free and clear of any claim of Buyer. In lieu of consenting to such termination, Seller may elect instead to enforce the purchase contract Agreement to Purchase according to its terms. 26. Tracts 1 & 2: According to the Preliminary Title EvidenceAdvertised square footages, at least 50% of the mineral rights with respect to Tracts 1 dimensions and 2 have been reserved by prior owner(s). 27. Tract 5: Advertised building dimensions bushel capacity are approximate. No warranty or authoritative representation is made as to the size size, dimensions or dimensions capacity of any building or structure. 2827. Tract 85: The following information for the home on Tract 8 is subject to all building setbacks, easements and other matters shown in a subdivision plat recorded in 2008 and identified as Plat No. 1 of City East. Access between Xxxxx 0 xxx Xxxx Xxxxx Xxxxxx is limited 5 has been posted to the intersection auction website: (a) Illinois Residential Real Property Disclosure Report; (b) Illinois Disclosure of East State Street Information on Radon Hazards (and the undeveloped street identified related pamphlet); and (c) Lead-Based Paint Disclosure Form (and related pamphlet). Printed copies are provided in the plat as Xxxxxx Placeauction display area. The undeveloped street identified as Xxxxxx Place is excluded from Tract 8. However, Seller shall have the right to quitclaim the Xxxxxx Place corridor to the Buyer of Tract 8 if deemed appropriate in Seller’s sole discretion5 shall sign and/or initial these forms (as applicable) at the end of the auction. 29. Tract 8: The pre-auction survey refers to an ordinance annexing Tract 8 to the Village of Cherry Valley. A copy of this ordinance is available to review in the auction information area.