MASON COUNTY, IL LAND AUCTION - PHELPS & WOOLDRIDGE

LOCATION Mason County, Illinois The Phelps/Wooldridge farm (known locally as the Martinie Farm) is located approximately 3 miles east of Mason City, IL or 15 miles west of Lincoln, IL (25 miles east of Havana, IL, 30 miles north of Springfield, IL or 45 miles south of Peoria, IL). The land is further described as being located in the East Half of the Northeast Quarter of Section 11, T20N-R5W, Mason City Township, Mason County, IL. SELLER Julie Phelps and Kimberly Wooldridge (known locally as the "Martinie Farm") MANAGED BY John Sullivan (309) 221-6700 GENERAL INFORMATION 80.71 taxable acres± • 1 tract The farm contains 80.71 tax acres, will be sold as one tract and is nearly all tillable with Cass A soils. Farmers and investors, be sure to check out this investment quality farmland. TRACT INFORMATION 80.71 taxable acres FSA records indicate 79.18 NHEL cropland acres The soil Productivity Index (PI) is 139.7 (Class A) Soil types include Tama, Ipava and Sable Wind lease agreement with Cordelio DevCo 11 LLC, as evidenced by a Memorandum of Lease filed of record on 11/10/01 in the office of the Mason County Recorder, Document No: 20220094890. Pattern Energy (formally Cordelio DevCo 11 LLC) has a wind lease agreement on this farm. The project is in the development stage with an anticipated construction date of 2029/2030. There has not yet been a determination of where the turbines will be located. Per the Land Lease and Wind Agreement (see below), Section 3.1, Paragraph (b), the annual Rent Prior to Commencement Date is $10/acre. There is a grass waterway/drainage ditch that runs through the farm County Road 3900E borders the farm on the east side and 1000N along the north side METHOD & TERMS The Phelps/Wooldridge farm will be sold on a price per acre basis, based on 80.71 taxable acres. Immediately following the auction, the successful buyer will be required to sign a real estate sales contract and pay ten percent (10%) of the purchase price as a non-refundable down payment which will be held in escrow until closing. The balance of the purchase price will be due at closing which will take place on or before July 1, 2026 . The seller will provide title insurance in the full amount of the purchase price and pay all of the 2025 real estate taxes, due and payable in 2026. The 2026 RE taxes, due in 2027, will be split evenly in half with the seller and buyer each paying half. Possession at closing subject to a cash rent lease for the 2026 crop year only. The buyer to receive 1/2 of the cash rent due and payable in November 2026. Bidding is NOT subject to any contingencies, including but not limited to financing, an appraisal or inspection of the property. All announcements made sale day take precedence over prior advertising either written or oral. The information in our brochure, in our advertisements and on our website is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, drone video, etc. are approximate. Buyers should verify the information to their satisfaction. There are no expressed or implied warranties made by the seller or Sullivan Auctioneers, pertaining to this property. Real estate is being sold “AS IS”.