We are pleased to present Spence Farms 145 ± Acres Pleasant Mound Township, Blue Earth County

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1 We are pleased to present Spence Farms 145 ± Acres Pleasant Mound Township, Blue Earth County PARCEL 1 Minimum maintenance Township road PARCEL 2 PARCEL 3 = PARCELS 1+2 This property to be sold by Sealed Bid Auction Owner: Steve & Theresa Spence Owner s Attorney: Randy Zellmer, Stinson Leonard Street, Mankato, MN Date & Time: Thursday, February 28, 10 a.m. Location: Mankato Armory MN National Guard, 100 Martin Luther King Jr Dr, Mankato, MN Note: See Sealed Bid Information page in the back of this brochure for more details. Only registered bidders may attend. Must be registered prior to auction date. Listing Agent: Charles Wingert, ALC Office: LAND (5263) Toll Free: LAND (5263) Direct: Auctioneer # Charles@WingertRealty.com

2 State Highway Map Minneapolis Mankato SUBJECT PROPERTY

3 SUBJECT PROPERTY Blue Earth County Minnesota

4 Pleasant Mound Township Blue Earth County PARCEL 1 PARCEL 2

5 Topography Map

6 FSA Aerial View - Parcel 1 Orange lines are not exact property lines. PARCEL 1

7 Property Information - Parcel 1 DESCRIPTION: TAX PID #: BUILDINGS: 80± Acres E½ of NW¼ Section 12, T105N-R29W(Note: Not to be used on legal documents) (Pleasant Mound Township, Blue Earth County, Minnesota) R (170 ± acres) None REAL ESTATE TAXES: 2018 Ag Hmstd taxes = $3, (170 ± acres) Rural Vac Land Hmstd *If Parcels 1 & 2 are sold separately: *This parcel is being split from a larger tract. The County Assessor will recalculate taxes attributed to each parcel after sale. *Beings parcel is being split from a larger tract, it constitutes a tax split. All 2019 taxes will be due and payable the day of closing. FSA INFORMATION: Total acres = 80 ± acres FSA Tillable acres = ± acres Corn base acres = ± acres Corn PLC Yield = 151 ± bushels Soybean base acres = ± acres Soybean PLC Yield = 45 ± bushels Farm Program Info - Enrolled into Agricultural Risk Coverage (ARC) County SOIL DESCRIPTION: Waldorf, Barbert, Collinwood, Kingston. See Soils Map. CPI: Crop Productivity Index = 86.2 TOPOGRAPHY: DRAINAGE: Level to rolling Outlets: Willow Creek & Marble Creek. Tile: Private mains, substantial system tiling. See Tile Map. NRCS CLASSIFICATIONS ON TILLABLE ACRES: Exempt from conservation compliance provisions. NHEL - Non-Highly Erodible Land WINGERT REALTY & LAND SERVICES, INC. stipulates that they are representing the seller exclusively in this transaction. The information gathered for this brochure in its entirety is from sources deemed reliable, but cannot be guaranteed by Seller, Wingert Realty & Land Services, Inc., or its staff. Package is subject to prior sale, price change, correction or withdrawal. The buyer must make their own independent investigation of the property. The buyer is purchasing the property as is, where is.

8 Tile Map - Parcel 1 This tile map is an approximation. No guarantee is made of tile condition, location, size, grade or depth = Installed in

9 Soils Map - Parcel 1

10 FSA Aerial View - Parcel 2 Orange lines are not exact property lines. PARCEL 2 PARCEL 1 PARCEL 2 ACCESS ROAD IN RED

11 Woods & Access Survey - Parcel 2

12 Property Information - Parcel 2 DESCRIPTION: TAX PID #: BUILDINGS: 65± Acres NE¼ of SW¼ & NW¼ of SE¼ & W10 Ac of NE¼ of SE¼, Exc. woods and 2 rodd filter strip along woods. Seller to provide legal survey. Section 12, T105N-R29W(Note: Not to be used on legal documents) (Pleasant Mound Township, Blue Earth County, Minnesota) R (170 ± acres) None REAL ESTATE TAXES: 2018 Ag Hmstd taxes = $3, (170 ± acres) Rural Vac Land Hmstd *If Parcels 1 & 2 are sold separately: *This parcel is being split from a larger tract. The County Assessor will recalculate taxes attributed to each parcel after sale. *Beings parcel is being split from a larger tract, it constitutes a tax split. All 2019 taxes will be due and payable the day of closing. FSA INFORMATION: *Total acres = 65 ± acres FSA Tillable acres = 62.9 ± acres Corn base acres = ± acres Corn PLC Yield =151 ± bushels Soybean base acres = ± acres Soybean PLC Yield = 45 ± bushels Farm Program Info - Enrolled into Agricultural Risk Coverage (ARC) County *Property to be surveyed-total acres to be determined by survey SOIL DESCRIPTION: Waldorf, Collinwood, Comfrey, Alluvial, Dorchester, Omsrud, Storden, Clarion. See Soils Map. CPI: Crop Productivity Index = 74.9 TOPOGRAPHY: DRAINAGE: Level to rolling Outlet: Willow Creek. Tile: Private mains, numerous areas system tiled. See Tile Map. NRCS CLASSIFICATIONS ON TILLABLE ACRES: Exempt from conservation compliance provisions. NHEL - Non-Highly Erodible Land WINGERT REALTY & LAND SERVICES, INC. stipulates that they are representing the seller exclusively in this transaction. The information gathered for this brochure in its entirety is from sources deemed reliable, but cannot be guaranteed by Seller, Wingert Realty & Land Services, Inc., or its staff. Package is subject to prior sale, price change, correction or withdrawal. The buyer must make their own independent investigation of the property. The buyer is purchasing the property as is, where is.

13 Tile Map - Parcel 2 This tile map is an approximation. Wingert Realty & Land Services, Inc. does not guarantee tile maps, footage, tile condition, location, size, grade or depth.

14 Soils Map - Parcel 2

15 Soil Descriptions WALDORF SERIES - Soil # 229 The Waldorf series consists of very deep, poorly drained soils formed in lacustrine sediments on glacial lake plains and moraines. These soils have moderately slow or slow permeability. Slopes range from 0 to 2 percent. Mean annual precipitation is about 27 inches. Mean annual air temperature is about 48 degrees F. TYPICAL PEDON: Waldorf silty clay loam on a nearly level slope in a cultivated field. GEOGRAPHIC SETTING: These soils are on plane to slightly concave positions on lake plains or moraines covered by lacustrine sediments. Slope gradients are 0 to 2 percent. The Waldorf soils formed in fine or moderately fine textured lacustrine sediments that are 4 to more than 10 feet in thickness. These sediments are Late Wisconsin in age. The climate is midcontinental with warm summers and cold winters. Mean annual air temperature is about 45 to 50 degrees F. Mean annual precipitation is about 25 to 32 inches. Elevation above sea level ranges from 700 to 1200 feet. Frost-free days range from 124 to 172. GEOGRAPHICALLY ASSOCIATED SOILS: The Collinwood, Brownton, Lura, and Kamrar soils are the major ones. These soils formed in similar sediments and are members of a hydrosequence with Waldorf soils. The well-drained Kamrar soils are on backslopes, shoulders and summits. The moderately well and somewhat poorly drained Collinwood soils are on nearby low summits. The poorly and very poorly drained calcareous Brownton soils are on nearby nearly level positions on rims of depressions. Lura soils are very poorly drained and are in depression. DRAINAGE AND PERMEABILITY: Poorly drained. An apparent water table is at.5 to 1.5 feet from November to July in most years. Surface runoff is low. Permeability is moderately slow or slow COLLINWOOD SERIES - Soil # 96, 96D, 96B The Collinwood series consists of deep, moderately well drained and somewhat poorly drained soils that formed in clayey, calcareous lacustrine sediments on glacial lake plains. The vegetation was tall grass prairie. The permeability is moderately slow or slow. Slopes range from 0 to 18 percent. Mean annual temperature is about 48 degrees F, mean annual precipitation is about 28 inches. TYPICAL PEDON: Collinwood silty clay--on a slightly convex slope of about 4 percent on a glacial lake plain in a cultivated field. GEOGRAPHIC SETTING: Collinwood soils are on plane to convex slopes on glacial lake plains. Slope gradients are less than 18 percent. Collinwood soils formed mostly in fine textured lacustrine sediments which are 4 to 10 feet thick. These sediments are late Wisconsinan in age. Mean annual temperature is about 45 to 50 degrees F, and mean annual precipitation ranges from about 25 to 30 inches. GEOGRAPHICALLY ASSOCIATED SOILS: Waldorf and Lura soils are the main ones. Waldorf soils are poorly drained and are level. Lura soils are very poorly drained and are in depressions. These soils formed in similar materials. In some places the well-drained Kamrar soils are associated on more sloping terrain and have loam or clay loam C horizons. DRAINAGE AND PERMEABILITY: Moderately well drained and somewhat poorly drained. Surface runoff is slow to rapid. Permeability is moderately slow or slow. BARBERT SERIES - Soil # 319 The Barbert series consists of very deep, very poorly drained soils that formed in clayey lacustrine sediments on glacial lake plains. These soils have slow or moderately slow permeability. Their slopes are less than 1 percent. Mean annual precipitation is about 28 inches and mean annual temperature is about 48 degrees F. TYPICAL PEDON: Barbert silt loam with a slightly concave slope of less than one percent in a slightly inset low gradient drainageway on a glacial lake plain in a cultivated field. GEOGRAPHIC SETTING: Barbert soils have plane or slightly concave slopes of less than 1 percent in small, slightly inset depressions and in long, slightly inset, low gradient, drainageways on glacial lake plains. Individual bodies of this soil are as much as 20 acres in size but principally they are in areas of 1/5 to 5 acres in size and are mapped in complexes with their associated soils. They formed in clayey lacustrine sediments that are 3 1/2 to 10 feet or more thick. These sediments are of the Des Moines lobe of the Late Wisconsin glaciation. They commonly overlie glacial till. Mean annual temperature is 45 to 50 degrees F. Mean annual precipitation is 26 to 32 inches. Elevation ranges from 900 to 1300 feet above sea level. Frost-free days range from 124 to 172. GEOGRAPHICALLY ASSOCIATED SOILS: These are the poorly drained Waldorf and Minnetonka soils, the somewhat poorly and moderately well drained Collinwood soils, and the very poorly drained Lura soils. These soils formed in sediments similar to those of Barbert soils and are in the same drainage sequence. The Madelia, Kingston, Marna, and Guckeen soils are associates in a few landscapes.

16 Soil Descriptions DRAINAGE AND PERMEABILITY: Very poorly drained. Surface runoff is slow or ponded. Permeability is slow or moderately slow. COMFREY SERIES - Soil # 18 The Comfrey series consists of deep poorly and very poorly drained soils that formed in loamy post glacial alluvium on flood plains and alluvial fans. These soils have moderate permeability. They have slopes of less than 2 percent. Mean annual precipitation is about 26 inches, and mean annual temperature is about 48 degrees F. TYPICAL PEDON: Comfrey clay loam with a plane slope of less than 1 percent on a flood plain in a cultivated field. GEOGRAPHIC SETTING: Comfrey soils have plane or concave slopes with gradient of less than 2 percent on flood plains and alluvial fans. They formed in loamy post glacial alluvium primarily in areas of Late Wisconsin glaciation. The climate is humid continental with warm summers and cold winters. Mean annual precipitation is 24 to 32 inches, and mean annual temperature is 45 to 53 degrees F. GEOGRAPHICALLY ASSOCIATED SOILS: The main ones are the Chaska, Millington, and Oshawa soils. The poorly drained Chaska soils are calcareous and are associates along larger streams. The very poorly drained Oshawa soils are in old meander channels. Poorly drained calcareous Millington soils are common associates in some places. DRAINAGE AND PERMEABILITY: Poorly and very poorly drained. Surface runoff is slow. Permeability is moderate. KINGSTON SERIES - Soil # 197 The Kingston series consists of deep moderately well and somewhat poorly drained soils that formed in deep silty calcareous glacial lacustrine sediments on glacial lake plains. These soils have moderate permeability. They have slopes of 0 to 3 percent. Mean annual precipitation is about 29 inches, and mean annual temperature is about 48 degrees F. TYPICAL PEDON: Kingston silty clay loam with a slightly convex slope of about 1 percent on a glacial lake plain in a cultivated field. GEOGRAPHIC SETTING: These soils have plane or slightly convex slopes on glacial lake plains. Slope gradients range from 0 to 3 percent. These soils formed in deep, calcareous, silty lacustrine sediments of Late Wisconsinan Age. The climate is midcontinental with warm summers and cold winters. Mean annual temperature is approximately 45 to 52 degrees F, and mean annual precipitation is approximately 26 to 31 inches. GEOGRAPHICALLY ASSOCIATED SOILS: The main ones are the Madelia and Truman soils which form a drainage sequence with the Kingston soils. The well drained Truman soils are on rolling slopes. The poorly drained Madelia soils are on nearly level slopes. DRAINAGE AND PERMEABILITY: Moderately well or somewhat poorly drained. Surface runoff is slow or medium. Permeability is moderate. DORCHESTER SERIES - Soil # 451 The Dorchester series consists of deep, well drained and moderately well drained soils formed in alluvium on flood plains. They are moderately permeable. Slopes range from 0 to 5 percent. Mean annual temperature is about 46 degrees F, and mean annual precipitation is about 33 inches. TYPICAL PEDON: Dorchester silt loam with a slope of about 1 percent - in a cultivated field. GEOGRAPHIC SETTING: Typically, the Dorchester soils are on narrow flood plains of small streams that have limestone bluffs on the nearby slopes. Slope gradients typically are less than 3 percent, but the range is 0 to 5 percent. The Dorchester soils formed in recent, calcareous, stratified alluvium. Mean annual temperature ranges from 45 to 52 degrees F, and mean annual precipitation ranges from 30 to 34 inches. GEOGRAPHICALLY ASSOCIATED SOILS: Dorchester soils are associated mainly with competing Arenzville and Caneek soils and the Colo, Ossian, and Volney soils. Colo and Ossian soils have darker A horizons and lack stratification and, in addition, the Colo soils lack free carbonates in their control section. Volney soils have darker A horizons and contain coarse fragments throughout the profile. Arenzville soils are on similar landscape positions as the Dorchester soils. Caneek soils are on slightly lower-lying areas on the bottom lands. Colo and Ossian soils are on bottomlands but at a greater distance from the streams. Volney soils are on alluvial fans above the Dorchester soils. DRAINAGE AND PERMEABILITY: Drainage class is difficult to assess because of the youthful profile but considered to be well drained and moderately well drained. Runoff is slow. Permeability is moderate. The soils are subject to rare to frequent flooding of very brief to brief duration.

17 Soil Descriptions OMSRUD SERIES - Soil # 921D Complex The Omsrud series consists of very deep, well drained soils formed in calcareous, loamy glacial till on ground moraines. Permeability is moderate. Slopes range from 5 to 40 percent. Mean annual air temperature is about 46 degrees F. Mean annual precipitation is about 28 inches. TYPICAL PEDON: Omsrud loam with a slope of 13 percent in a cultivated field. GEOGRAPHIC SETTING: Omsrud soils have convex or linear slopes on ground moraines. Slopes gradients range from 5 to 40 percent. These soils formed in calcareous loamy glacial till of late Wisconsin age. Mean annual air temperature is 45 to 50 degrees F. Mean annual precipitation is 25 to 30 inches. Frost free days range from 125 to 165. Elevation ranges from 700 to GEOGRAPHICALLY ASSOCIATED SOILS: These are the Canisteo, Clarion, Crippin, Nicollet, Okoboji, Storden, Swanlake and Webster soils. The poorly drained Canisteo and somewhat poorly drained Crippin soils are calcareous and are lower on the landscape. The well drained Clarion soils are on nearly level summits, sideslopes or convex rises. The somewhat poorly drained Nicollet and poorly drained Webster soils are lower on the landscape. The very poorly drained Okoboji soils are in closed depressions. The well drained Storden and Swanlake soils are on higher lying convex knolls and shoulder slopes. DRAINAGE AND PERMEABILITY: Well drained. Surface runoff is moderately high to high. Permeability is moderate. STORDEN SERIES - Soil # 921D Complex, 921C Complex The Storden series consists of very deep, well drained soils that formed in calcareous loamy glacial till on glacial moraines. These soils have moderate permeability. Slopes range from 4 to 70 percent. Mean annual precipitation is about 26 inches. Mean annual air temperature is about 48 degrees F. TYPICAL PEDON: Storden loam with an 8 percent convex slope on a ground moraine in a cultivated field. GEOGRAPHIC SETTING: These soils have convex slopes with gradients of 4 to 70 percent. They are on glacial moraines. They formed in calcareous loamy Des Moines Lobe glacial till of Late Wisconsinan Age. Mean annual air temperature ranges from 45 to 50 degrees F. Mean annual precipitation ranges from 25 to 32 inches. Frost free days ranges from 124 to 165. Elevation ranges from 700 to 1600 feet. GEOGRAPHICALLY ASSOCIATED SOILS: These are the Swanlake, Clarion, Omsrud, Nicollet, Delft and Webster soils. The well drained Swanlake soils have a mollic epipedon. The well drained Clarion and Omsrud soils have a mollic epipedon and are not calcareous in the upper part. Delft and Webster soils are poorly drained and on footslopes and swales. Nicollet soils are on lower summits or sideslope positions and are somewhat poorly drained. DRAINAGE AND PERMEABILITY: Well drained. Surface runoff is moderately slow to very high. Permeability is moderate. CLARION SERIES - Soil # 921C Complex The Clarion series consists of very deep, well drained, moderately permeable soils formed in glacial till on uplands. Slopes range from 1 to 9 percent. Mean annual air temperature is about 47 degrees F. Mean annual precipitation is about 29 inches. TYPICAL PEDON: Clarion loam on a convex upland slope of 4 percent gradient - in a cultivated field. GEOGRAPHIC SETTING: Clarion soils typically are on convex slopes in the relatively undissected, gently undulating to rolling Late Wisconsin till plain. The topography is hilly in some places. Slopes commonly are short and irregular with gradients typically from 2 to 5 percent but range from 1 to 9 percent. The soils formed in calcareous glacial till of the Des Moines Lobe advance. Mean annual air temperature is 45 to 50 degrees F. Mean annual precipitation is 27 to 32 inches. Annual frost free days range from 120 to 180 days. Elevation above sea level ranges from 700 to 1400 feet. GEOGRAPHICALLY ASSOCIATED SOILS: These are the Nicollet, Omsrud, Storden, and Webster series. Nicollet and Webster soils, which form a drainage sequence with Clarion soils, are the most common associates in undulating to gently rolling landscapes. Omsrud and Storden soils are often associated in rolling or hilly landscapes and are on the steeper or more strongly convex slopes. Storden soils do not have a cambic horizon free of carbonates and Omsrud soils do not have saturation in the lower part of the profile. DRAINAGE AND PERMEABILITY: Well drained. Surface runoff is medium. Permeability is moderate. The seasonal high water table is at depths of 4 to 6 feet during November to July in most years.

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20 Thank You for the opportunity to present this property to you. We hope you found the information complete and the property of interest. However, if this property doesn t meet your needs, please let us know. We will do our best to find one which satisfies your requirements. Also, if you feel you have no interest in this property, please pass this package along to a friend or associate who might have an interest.

21 Additional Notes

22 SEALED BID AUCTION INSTRUCTIONS Sealed Bid Location and Time: Mankato Armory MN National Guard 100 Martin Luther King Jr Dr, Mankato, MN Thursday, February 28, 10 a.m. Sealed Bid Instructions: 1. Only registered bidders may attend. Must be registered prior to auction date. All potential bidders shall deliver or mail a sealed bid, postmarked by Saturday, February 23, 2019 to: Wingert Realty & Land Services, Inc., Attn: Charles Wingert 1160 Victory Drive So., Suite 6, Mankato, MN **If you are unable to get postmarked bid in on time, call our office for other arrangements.** 2. All bids must be accompanied by a $5,000 check for earnest money made out to Wingert Realty Trust Account. 3. The written bid shall state the total price for total deeded acres. 4. All persons submitting a written bid will be allowed to raise their bid after all bids have been opened. 5. The premises described herein will be sold in as is, where is condition 6. Seller shall pay the real estate taxes and special assessments due and payable in 2018, and receive 2018 income. 7. Purchaser shall pay the real estate taxes and special assessments due and payable in 2019 and beyond. 8. The successful bidder or bidders will enter into a Purchase Agreement and shall pay as earnest money 10% of the successful bid on the day of auction. 9. A 2% Buyer Premium will be added to the final bid price to arrive at the final contract price. 10. The entire balance of the purchase price, without interest, will be due and payable on Thursday, March 28, 2019 at which time possession & marketable title shall be conveyed. 11. All checks will be returned to unsuccessful bidder. 12. The Sellers reserve the right to reject any and all bids and to waive any irregularities in the bidding. 13. Announcements made the day of the auction take precedence over written material. For additional information, contact: Wingert Realty & Land Services, Inc. Charles Wingert, ALC, Auctioneer # (800) 730-LAND (5263), LAND (5263) or Direct

23 REGISTRATION / BIDDING FORM Bid Submitting Instructions: Write in your total price for total deeded acres for each parcel you would like to bid on Write in your name, address, telephone number and address All bids must be accompanied by a $5,000 check (this check covers any and all parcels you wish to bid on) for earnest money made out to Wingert Realty Trust Account. Only registered bidders may attend. Must be registered prior to auction date. All potential buyers shall deliver or mail a sealed bid, postmarked by Saturday, February 23, 2019 to: Wingert Realty & Land Services, Inc., Attn: Charles Wingert 1160 Victory Drive So., Suite 6, Mankato, MN **If you are unable to get postmarked bid in on time, call our office for other arrangements.** PARCEL 1 ACRES PARCEL 1 80 ± TOTAL BID AMOUNT (Nearest $1,000) $ PARCEL 2 PARCEL 2 65 ± $ PARCEL 3 = PARCELS 1+2 PARCEL ± (PARCELS 1+2) NAME: ADDRESS: CITY / STATE / ZIP: $ CELL PHONE: ( ) /RESIDENTIAL ( ) ADDRESS: **IF you are the successful bidder the day of the auction, we will need the following information: (NOTE: We do not need this information in order for you to place a bid.) 1. ATTORNEY: Name Office Phone Number Attorney Law Office Name & City Address 2. LENDER Name Office Phone Number Lender Office Name & City Address

24 WINGERT REALTY & LAND SERVICES, INC. Serving Minnesota and Northern Iowa Mankato Office: Toll Free LAND (5263) Local LAND (5263) CHARLES WINGERT, ALC PAST NATIONAL PRESIDENT OF REALTORS LAND INSTITUTE (2013) Broker Direct Line: Auctioneer # DARRELL HYLEN, ALC Real Estate Sales & Lease Negotiation Direct Line: Darrell.Hylen@WingertRealty.com Auctioneer # DAVID HANSON Real Estate Sales Direct Line: David@WingertRealty.com Auctioneer # GEOFF MEAD Real Estate Sales Direct Line: Geoff@WingertRealty.com Auctioneer # Redwood Falls Office: RICHARD HAUGE, ALC & ARA Real Estate Sales & Appraisals Direct Line: Rick@WingertRealty.com Auctioneer # ALL ARE LICENSED MN REALTORS THE LAND REPORT, the magazine of the American Landowner, has named Wingert Realty & Land Services, Inc. America s Best Brokerages and Top Auction Houses in the U.S.A.! 1/16