Auction Note

WRITTEN BID LEASE AUCTION 504.4 +/- Acres - Wells County, ND Written Bids Due:  Friday, November 5, 2021 – 5:00 p.m.   Mail, Fax, or Email Bids to: Pifer’s Auction and Realty Attn: Dwight Hofland: Terry Thormodsgaard Trust Land Lease Auction 1506 29th Ave. S Moorhead, MN 56560 FAX: 218.477.1969 dhofland@pifers.com (bid forms are available for download above)   Auction Note: This property features 504.4 +/- cropland acres with highly productive soils and strong cropping history located in Silver Lake and Haaland Townships, Wells County, ND. Seeking tenant(s) to lease farmland for the 2022-2023 crop year.  Written bids will be accepted until 5:00 p.m. on Friday, November 5, 2021.  The successful bidder will have possession starting on or before January 1, 2022.  Bids will be submitted on an annual dollar per acre basis.    Contact:  Dwight Hofland at 701.630.4359, (dhofland@pifers.com) or Pifer’s Auction & Realty at 218.477.1968 for more information or a bid form (bid forms are available for download above).   Driving Directions: Parcel 1: From Bowdon, ND, head south on 39th Ave. NE to Hwy. #200. Drive west on Hwy. #200 for 5.6 miles. Turn south onto County Rd. #4 and drive 3.3 miles south to the north west corner of parcel 1. Parcel 2: From Bowdon, ND, drive West on 4th St. NE for 1.6 miles to arrive at the south west corner of Parcel 2     Parcel 1: Cropland Acres: 229.31 +/- Legal: S ½ Section 11-145-72 in Silver Lake Township, Wells County, ND. These 229.31+/- cropland acres have a Soil Productivity Index of 68.8 with roughly 50% of the total composition of William-Bowbells loams soils. Good access to this parcel from 2nd Street SE.   Parcel 2: Cropland Acres: 275.09 +/- Legal: S ½ Section 8-146-71 in Haaland Township, Wells County, ND. This parcel has a Soil Productivity Index of 66 comprising of Barnes – Svea Loam soils and good access to this parcel from 37th Ave NE and 4th Ste NE.    LANDOWNER: Terry Thormodsgaard Trust   Bidding Procedure: All written bids must be received before 5:00 p.m. (CT) on Friday, November 5, 2021. Written bids will be submitted on an annual per acre basis. All written bids must be accompanied with a 2-year farming plan, including but not limited to, crop rotation, normal chemical application, field drainage plans and or suggested tiling plan. These stewardship/farming plans are important to the landowner(s) and will play an important role in the final decision when awarding the contracts. The top written bids will be invited to the Oral Bidding and will have an opportunity to raise their bid at a time and place designated by Pifer’s Auction & Realty. Oral Bidding will be on Tuesday, November 9, 2021, time TBD (CT). Each Oral Bidder will have the opportunity to bid on each parcel individually as well as altogether (Overall).  Each Oral Bidder must bid on at least one parcel individually to qualify for participation in the Overall bidding process. The winning bidder will (upon Landowner acceptance) receive a lease agreement provided by Pifer’s Land Management. Bidders are bidding on a 2-year lease agreement. The agreement will begin at the signing of the contract and terminate December 31, 2023.   Annual rent will be due on or before March 15th each year of the lease agreement. The awarded bidder must provide a letter of good standing from their financial institution. Farm Liability insurance policy that meets lease agreement standards is required. The Landowner reserves the right to accept or reject any and all bids.   Mail, Fax, or Email Bids to: Pifer’s Auction and Realty Attn: Dwight Hofland: Terry Thormodsgaard Trust 1506 29th Ave S Moorhead, MN 56560 FAX: 218.477.1969 dhofland@pifers.com