Victoria Road & 740th St, Massena, IA 50853

Cass County, Iowa Sealed Bid Farmland Auction – Peoples Company is pleased to offer 240 acres m/l of Cass County, Iowa farmland owned by the late Gerald and Hyacinth Lappe located south of Massena, Iowa. Offered as two separate tracts, these farms offer an excellent opportunity to add productive acres to an existing farming operation or investment portfolio. The farmland will be offered through a Sealed Bid Auction with all bids for the tracts due before 4:00 PM (CST) on Wednesday, October 14th, 2026. Bidders will have a single opportunity to bid on these farmland tracts, and a live auction will not follow the Sealed Bid Auction. Please contact the Listing Agent or see Attachments for the Sealed Bid Submission form. Tract 1: 80 Acres M/L with 70.48 FSA Cropland Acres and a CSR2 Soil Rating of 54.1 | 47.69 Acres of CRP that Expire in September 2026 | Includes one (1) MidAmerican Wind Turbine Tract 2: 160 Acres M/L with 137.90 FSA Cropland Acres and a CSR2 Soil Rating of 66.6 | 136.53 Acres of CRP with 45.98 Acres that Expire in September of 2026 and 90.55 Acres that Expire in September of 2027 | Includes two (2) MidAmerican Wind Turbines The Lappe Farm includes 184.22 cropland acres across both tracts are currently enrolled in the Conservation Reserve Program (CRP), with three of the four CRP contracts scheduled to expire this September (additional contract details located in the individual tract listings). This creates a timely opportunity for the new owner to evaluate the acres for conversion back into tillable cropland and potentially increase the farms' productive capacity moving forward. As the contracts expire, these acres offer added flexibility for a buyer looking to expand row-crop production, improve farmability, or pursue alternative uses such as certified organic production. Both tracts are enrolled in a Windpark Easement Agreement with MidAmerican, offering an additional income stream beyond farming practices. Tract 1 has one (1) 2.66 MW wind turbine on the property and Tract 2 has two (2) 2.38 MW wind turbines on the property. All three (3) wind turbines were recently repowered with the intention to extend the life of the wind turbines and increase the megawatts the turbines are able to produce. Tract 1 and Tract 2 receive an annual payment for the wind turbines scheduled to increase 2% per year. The Buyer / Winning Bidder will receive all future wind lease payments. *Contact the Listing Agent for more details*. The Windpark Easement Agreement will be transferred with the farmland. The payments received in 2026 related to the Windpark Easement will be retained by the Seller(s), and future lease payments will be paid to the new Buyer(s). *Peoples Company does not warrant or guarantee any part of the Wind Lease Agreement, and any interested potential buyer or bidder should be aware of any potential risks of the Wind Lease Agreement.*