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Auction Proposal

PRESENTED TO: SEMPER FUND MANAGEMENT c/o JUAN FEENEY 732 ACRES± IROQUOIS, OGLE, DEKALB, BOONE & McHENRY COUNTY, IL REAL ESTATE

AUCTIONEERS, LLC

ILLINOIS OFFICE: 1066 E. US Hwy. 136 | Hamilton, IL 62341-0111 | Phone (844) 847-2161 INDIANA OFFICE: 11996 N Goshen Road | Huntington, IN 46750-8864 | Phone (260) 437-2771 Email sold@sullivanauctioneers.com | Website www.sullivanauctioneers.com

Sullivan Auctioneers... Your professional Land Auction Firm For over 40 years and 3 generations, Sullivan Auctioneers has been conducting real estate and ag equipment auctions throughout the country. With hard work, a professional staff of licensed auctioneers, real estate brokers, advertising/marketing specialists and graphic designers, Sullivan Auctioneers has grown our business into one of the largest auction companies in the nation. Let us put our knowledge and reputation to work for you. • $300 million in auction sales annually • $200 million of real estate sales annually • Over 30% sold to large land investors • Auctions held in 20 states over the last 5 years

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John Sullivan

Joe Sullivan

Jim Sullivan

Bill Sullivan

Michael Sullivan

Luke Sullivan

Matt Sullivan

Dan Sullivan

Family owned since 1979 • 3 generations • 50+ full time employees working for you • 20 full time auction managers • 2 office locations • Employees located across the country

Don Sullivan 1923 - 2002

Rita & Don Sullivan 1982

Third Generation Sullivans - Michael, Matt & Luke

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Meet Our Auction Managers

Kevin Haas

Zach Hiner

Jeff Hoyer

Kyle Ferguson

Cody Holst

Bill Fretwell

John Probasco

Jim Huff

Craig Hoyer

Stanley Prather

John Borrowman

Dale Jones

AUCTIONEERS, LLC

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PLAT MAP - TRACT 1 Located in Section 24, T26N•R14W, Onarga Township, Iroquois County, IL

SUBJECT

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AERIAL MAP - TRACT 1 Located in Section 24, T26N•R14W, Onarga Township, Iroquois County, IL

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SOIL MAP - TRACT 1 Located in Section 24, T26N•R14W, Onarga Township, Iroquois County, IL

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PLAT MAP - TRACTS 2 & 3 Located in Section 6, T25N•R12W, Milford Township & Section 12, T25N•R13W, Ash Grove Township, Iroquois County, IL

2

3

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AERIAL MAP - TRACT 2 Located in Section 6, T25N•R12W, Milford Township, Iroquois County, IL

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SOIL MAP - TRACT 2 Located in Section 6, T25N•R12W, Milford Township, Iroquois County, IL

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AERIAL MAP - TRACT 3 Located in Section 12, T25N•R13W, Ash Grove Township, Iroquois County, IL

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SOIL MAP - TRACT 3 Located in Section 12, T25N•R13W, Ash Grove Township, Iroquois County, IL

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PLAT MAP - TRACT 4 Located in Section 11, T22N•R8E, Woosung Township, Ogle County, IL

SUBJECT

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AERIAL MAP - TRACT 4 Located in Section 11, T22N•R8E, Woosung Township, Ogle County, IL

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SOIL MAP - TRACT 4 Located in Section 11, T22N•R8E, Woosung Township, Ogle County, IL

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PLAT MAP - TRACT 5 Located in Section 14, T38N•R4E, Clinton Township, DeKalb County, IL

SUBJECT

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AERIAL MAP - TRACT 5 Located in Section 14, T38N•R4E, Clinton Township, DeKalb County, IL

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SOIL MAP - TRACT 5 Located in Section 14, T38N•R4E, Clinton Township, DeKalb County, IL

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PLAT MAP - TRACT 6 Located in Sections 13 & 14, T43N•R4E, Spring Township, Boone County, IL

SUBJECT

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AERIAL MAP - TRACT 6 Located in Sections 13 & 14, T43N•R4E, Spring Township, Boone County, IL

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SOIL MAP - TRACT 6 Located in Sections 13 & 14, T43N•R4E, Spring Township, Boone County, IL

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PLAT MAP - TRACTS 7 & 8 Located in Sections 2 & 16, T45N•R4E, Boone Township, Boone County, IL

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AERIAL MAP - TRACT 7 Located in Section 2, T45N•R4E, Boone Township, Boone County, IL

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SOIL MAP - TRACT 7 Located in Section 2, T45N•R4E, Boone Township, Boone County, IL

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AERIAL MAP - TRACT 8 Located in Section 16, T45N•R4E, Boone Township, Boone County, IL

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SOIL MAP - TRACT 8 Located in Section 16, T45N•R4E, Boone Township, Boone County, IL

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PLAT MAP - TRACT 9 Located in Sections 21 & 22, T43N•R5E, Riley Township, McHenry County, IL

SUBJECT

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AERIAL MAP - TRACT 9 Located in Sections 21 & 22, T43N•R5E, Riley Township, McHenry County, IL

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SOIL MAP - TRACT 9 Located in Sections 21 & 22, T43N•R5E, Riley Township, McHenry County, IL

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Traditional Advertising Sullivan Auctioneers has been utilizing traditional advertising for auctions in newspapers, magazines, and catalogs for over 40 years. We have working relationships with local and national publications across the country and we ensure you that your property is visible to any and all interested buyers.

DIRECT MAIL - Tried and true, 40 years of compiled data!

Iroquois Co. Times-Republic • Kankakee Illinois Spirit • Champaign News Gazette • Peroria Journal Star • Rockford Register Star • Rock Valley Shopper • Danville Commercial News • Piatt Coutry Journal-Republican • Paxton Record • Pontiac Daily Leader • The Fairbury Blade • Livingston Shopping News • The Paper - Dwight, IL • The Bloomington Panatgraph • The Ridgeview Review • Ogle County Life • Proposed Advertising Publications

SAMPLE BROCHURE

LaSalle News Tribune • DeKalb Daily Chronicle • Lake County Journal • Kane County Chronicle •

NEWSPAPER/PRINT - We work with local and national publications to ensure your land is visible in traditional marketplaces. We spend $400,000 annually on print advertising.

Joliet Farmers Weekly Review • Arlington Heights Daily Herald • Chicago Tribune • IL AgriNews • IA Farmer Today • Farm Week • Farm World (IN) • Various other publications! •

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Digital Advertising Sullivan Auctioneers employs digital marketing specialists to ensure that your property is visible on the web with the most up to date digital marketing practices. Our in house team utilizes multiple platforms to spread our available properties to highly focused audiences and we ensure that any users showing interest in a property through visiting a listing online or engaging with an ad, are shown that ad consistently to remind them of the opportunity your property presents. • 20,000,000 page views annually on www.SullivanAuctioneers.com • 250 auctions keep users coming back • National exposure Social Media • Our ads receive 2+ millions impressions monthly • Over 46,000 followers on Facebook • We utilize 40 years of auction knowledge to place digital ads specifically in front of interested buyers

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National Website Af fi liates Our website & these affiliate websites produce over 23 million hits per month!

www.machinerypete.com

www.landsofamerica.com

www.auctionzip.com

www.landwatch.com

www.midwestauction.com

www.landandfarm.com

AUCTIONEERS, LLC

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SAMPLE AERIAL PHOTO

Virtual Aerial Tour & On-Site Photography Sullivan Auctioneers offer state-of-the-art, high definition on-site and aerial photography and videos. Virtual aerial tours of all properties are available online.

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ADVERTISING & MARKETING Signage

OUR DETAILED DIRECTIONAL, INFORMATIONAL AND TRACT SIGNS ARE ALL PROFESSIONALLY CREATED "IN HOUSE"

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Testimonials: $2.4M California Land Auction THE MITCHELL LAND TRUST “Dan - I wanted to let you know how thankful I am that I employed you and your team to handle our land auction that was located in Yolo County, California. The entire process was smooth and we were certainly pleased with the overall results. Thanks again, I’d recommend Sullivan Auctioneers to anyone selling land!”

Clay Mitchell

$19.8M Illinois Land Auction G.O. HEAD FARMS “I wanted to let you know what a tremendous job I think you and your firm did for us. I truly appreciate all of your work and advice, which laid the groundwork for a successful auction...my family and I are very happy with the results your firm achieved for us. It was a pleasure working with you.”

Kathryn S. Head, President - G.O. Head Farms Inc.

$7.2M Iowa Land Auction THORESEN LAND TRUST

“Thanks for an incredible sale, I can't say enough good about you and Sullivan's, you were totally excellent and I had never seen any auction company that compared, so thanks again Jim. I knew you were very good when I watched you two years ago, but today proved that there is no finer auction company in the entire world and I mean that sincerely. I will be forever grateful to you and Sul- livan Auctioneers.”

Brian Thoresen, Trustee

$15.6M Illinois Land Auction THE ADWELL CORPORATION “I wanted to drop you a note to reiterate to you and your fine team of professionals for the fine job you did to market and auction some of Adwell’s farmland in Adams County. It was a great ex- perience with very good results.”

William S. Rose, Jr., President of The Adwell Corporation

$8.1M Equipment Auction SOUTH FORK HARVESTERS, INC.

“I wanted to take this opportunity to thank you, all the Sullivans, and the rest of your auction team for a tremendous job last week. The auction was executed extremely well from start to finish. The pre-sale preparation, the layout and setup of the equipment, ad- vertising & marketing – outstanding job. All of this lead to a very successful sale – Thank you!”

Jason Chandler, South Fork Harvesters, Inc.

EXCLUSIVE LAND AUCTION CONTRACT

SEMPER FUND MANAGEMENT

AUCTIONEERS, LLC

SULLIVAN AUCTIONEERS, LLC AGREES TO: • Professionally conduct a virtual online real estate auction of 732 acres± located in Section 24, T25N•R14W, Onarga Township, Section 6, T25N•R12W, Milford Township & Section 12, T25N•R13W, Ash Grove Township, Iroquois County, IL, Section 11, T22N•R8E, Woosung Township, Ogle County, IL, Section 14, T38N•R4E, Clinton Township, DeKalb County, IL, Sections 13 & 14, T43N•R4E, Spring Township & Sections 2 & 10, T45N•R4E, Boone Township, Boone County, IL & Section 21, T43N•R5E, Riley Township, McHenry County, IL. To be sold in 9 tracts. • PROPOSED SALE DATE: WEDNESDAY, FEBRUARY 9, 2022 AT 10:00 A.M. OR DATE MUTUALLY AGREED UPON: ________________________________________. • Advertise the sale nationally and regionally in a thorough and timely manner through the use of auction flyers, newspaper ads, mailing lists and Sullivan Auctioneers, LLC’s website: www.sullivanauctioneers.com , as well as banner ads on national land websites. • Pay all advertising cost associated with the auction to include auction brochures, print ads, signage, videos, etc. Est.: $20,000.00 . • Pay all internet buyer fees. Sullivan Auctioneers does not charge a buyer’s premium. • Direct mail auction brochures to prospective land buyers, lending institutions, attorneys specializing in farmland (also familiar with 1031 exchanges), businesses, etc. • Direct mail auction brochures to land owners throughout Iroquois, Ogle, DeKalb, Boone & McHenry Counties, Illinois. • Send an email blast notification to all potential land buyers who have registered to be on our list. • Include the Semper Fund Management real estae auction in our Upcoming Auction Booklet, mailed to 85,000 potential bidders. • Provide virtual aerial tour offered exclusively by Sullivan Auctioneers, LLC. • Video tape the auction for the protection of all parties involved. • Place directional, informational, and tract signs on the tracts and off of nearby highways. • Sullivan Auctioneers, LLC allow our sellers to accept or reject any and all bids on the real estate. In the unlikely event a property does not sell, there will be NO commission charged; although advertising cost would be due and payable to auction co. SELLER AGREES TO: • Compensate auction company at a commission rate of: 2% of gross sale receipts • The undersigned Seller(s) agrees that this agreement is exclusive and that they shall not engage the services of any other broker or other auction company to assist, consult, or advise in the sale of the said real estate, without the express written consent of Sullivan Auctioneers, LLC. • The undersigned Seller(s) authorize the Iroquois, Ogle, DeKalb, Boone, & McHenry County, Illinois Farm Service Agencies to release all farm information concerning the Semper Fund farm located in Section 24, T25N•R14W, Onarga Township, Section 6, T25N•R12W, Milford Township & Section 12, T25N•R13W, Ash Grove Township, Iroquois County, IL, Section 11, T22N•R8E, Woosung Township, Ogle County, IL, Section 14, T38N•R4E, Clinton Township, DeKalb County, IL, Sections 13 & 14, T43N•R4E, Spring Township & Sections 2 & 10, T45N•R4E, Boone Township, Boone County, IL & Section 21, T43N•R5E, Riley Township, McHenry County, IL., to Sullivan Auctioneers, LLC.

12-9-2021

SULLIVAN AUCTIONEERS, LLC

DATE

SELLER

SELLER

JOHN SULLIVAN

DATE

DATE

12-9-2021

SULLIVAN AUCTIONEERS, LLC

DATE

ADDRESS

ADDRESS

KEVIN HAAS

CITY • STATE • ZIP

CITY • STATE • ZIP

AUCTIONEERS, LLC

PHONE • EMAIL

PHONE • EMAIL

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