(2) Agco / Challenger Rogator RG1300B Dry Fertilizer ...

Machinery Inspection of

(2) Agco / Challenger Rogator RG1300B Dry Fertilizer Applicators

SN AGCA1300AHNS31100

Sikeston, Missouri

Prepared by Joel Hassevoort

Professional Machinery and Equipment Appraisers

Phone: (616) 878-3470 - Toll Free: (800) 734-1112 Corporate Headquarters: 601 Gordon Industrial Court, Byron Center, MI 49315 www.MiedemaAppraisals.com

601 Gordon Industrial Court · Byron Center · Michigan · 49315www.MiedemaAppraisals.com · 616-878-3470

Specializing in providing accurate, confidential and professional appraisals for most types of personal property assets since 1984.

Did you know we have offices throughout the United States?

Corporate Headquarters601 Gordon Industrial Court

Byron Center (Grand Rapids), MI 49315

1290 N. Ortonville Rd., Ortonville, MI 48462

3450 12th StreetWayland, MI 49348

210 N. Grace St.McBain, MI 49657

604 W. Big Bear BlvdBig Bear City, CA 92314

5 Chrysler RdSuite 212

Natick (Boston) MA 01760

145 Spires WayDivide, MT 59727

Dedicated to accurate and quality appraisals beyond the standard

Corporate Headquarters

3350 Hanson StSuite C

Ft. Myers, FL 33916

9435 Waterstone Blvd.Suite 140

Cincinnati, OH 45239

MIEDEMAAsset Management Group

Miedema Auctioneering, Inc. Live Division (Started in 1984) is our live equipment auction division that conducts millions of dollars of traditional style auction sales annually. These auctions include construction, agricultural, industrial, commercial, business liquidations, and more. We offer real time live internet bidding to augment our professional onsite traditional auctioneers, maximizing our seller’s market and increasing selling prices. When the excitement and competition of a live, traditional auction is desired, our Miedema Auctioneering, Inc. team delivers! Miedema Auctioneering, Inc. Live Real Estate Division has marketed millions of dollars of real estate across the country. We sell vacant land, agricultural, recreational property, homes, investment property, and commercial/industrial properties. Miedema Auctioneering, Inc. Real Estate is on the latest edge of technology, offering bidding options such as multi-par systems, the squeeze board and the internet, maximizing our seller’s prices.

Call us today for more information at 800-527-8243 or visit us at: Miedemaauctioneering.com

Miedema Appraisals, Inc. (Started in 1984) specializes in providing accurate, confidential and professional appraisals for most types of personal property assets. Our team writes over 200 appraisals annually for all types of equipment and personal property, valuing millions of dollars of assets for our clients which include financial institutions, legal professionals, courts and other professionals and corporations across the globe.

Call us today for more information at 800-734-1112 or visit us at: Miedemaappraisals.com

Orbitbid.com, Inc. (started in 2002) brings the internet auction to your facility and sells all the assets from your location, providing an efficient and effortless auction with all the benefits of a large bidding audience. We have the latest in internet bidding technology, and a huge following of online bidders (320,000 and growing) from all over the world. Orbtibid.com conducts over 300 auctions annually totaling millions of dollars.

Call us today for more information at 866-672-4806 or visit us at Orbitbid.com

Rangerbid.com (Started in 2012) allows businesses to sell their item(s) to end users, as well as other businesses, with ease right from the seller’s location. When it is not convenient for a seller to have their own auction or transport their items to one of our three fixed facilities, Rangerbid.com is your source for listing and selling your items! Rangerbid.com auctions consist of items from multiple consignors and multiple locations around the country. The Rangerbid.com team will provide a high level of customer service and security while working hard to facilitate seamless transactions by utilizing a proven state of the art internet auction technology.

Call us today for more information at 616-261-4984 or visit us at: Rangerbid.com

Lastbidrealestate.com, Inc. (started in 2008) specializes in selling real estate via online bidding. We market several hundred real estate properties each year for banks, credit unions, government agencies, corporations and private individuals with our unique and highly successful online auction bidding platform. Bidders from around the world are able to participate in the real estate auctions we conduct for our clients. Quickly and efficiently, we turn our client’s real estate assets into cash.

Call us today for more information at 800-527-8243 or visit us at: LASTBIDrealestate.com

DIRECT SALES (started in 2016) With a growing need for quicker liquidation methods, Miedema Asset Management Group organized the Direct Sales division. When the timeline of a client is not conducive to the proper marketing and set-up time of a traditional or online auction, we will purchase a single asset or an entire group to offer an influx of capital quickly; providing our clients with a fair price, and the needed funds to carry on operations with the least amount of risk.

Online-Auction Software.com, Inc. (OAS) (Started in 2009) provides and supports the software for the online auction bidding platform. All of the online auction companies owned and operated by Miedema Asset Management Group utilize the OAS bidding platform. OAS also offers the opportunity to license this bidding platform software to other Independent Auction Operators. If you are interested in participating with OAS, contact us today at 616-389-

6476 or visit us at: online-auctionsoftware.com

Repocast.com, Inc. (Started in 2000) specializes in recovery and sales. We market commercial, business and personal property assets of all types for banks, credit unions, trustees, businesses and individuals. We have many auctions every week, typically selling over 3,000 items and attracting thousands of bidders. We have three permanent Michigan facilities, from which items sell: Grand Rapids Metro (Byron Center), Southwest MI (Wayland) and Flint Metro. Repocast.com can handle voluntary or involuntary repossessions from a whole business to a single car and more, and move these items to our secure facility to be included in our auctions.

Call us today for more information at 866-550-7376 or visit us at: Repocast.com

Michigan OfficesDetroit

OrtonvilleWaylandMcBain

Ohio OfficeCincinnati

Massachusetts OfficeNatick (Boston)

California OfficeBig Bear City

Montana OfficeDivide

Global Headquarters601 Gordon Industrial Ct.

Byron Center (Grand Rapids), MI

Miedema Asset Management Group can provide many options for our clients, including asset management and recovery, complete buy outs of your assets, guarantee of selling price, inventory services, etc.

Call us today at 1-800-LASTBID to discuss how we can provide a valuable service for your situation

INSPECTION SUMMARY

Agco / Challenger Rogator 1300B Fertilizer Applicator SN AGCA1300AHNS31100

Sikeston, Missouri

February 27, 2020

Pre-Inspection Information1. Was the contact name provided correct?No. Contact provided was Tim. Called Alliance Ag. Personnel of Alliance Ag gave me Tim's direct number, called Tim, and was told that he worked of site. Tim told me to call Bryan, the store manager at Alliance Ag. Called Bryan and spoke to him for inspection details.

2. Was the contact phone number provided correct?Yes.3. Was the contact address provided correct?Yes.4. Did the contact verify that the equipment would be at the provided address?Yes.5. Did the contact verify that the equipment is operational?Yes.Inspection Observations6. Was the inspection conducted at the lessee's location?No. It is stored at dealership lot, who was not the end user of the equipment.7. Type of business.Agricultural Equipment Dealership8. Was the contact present at the time of the inspection?Yes. Bryan the store manager was present.9. Is the equipment stored in a secure location?Yes.10. Is the serial number plate attached and legible?Yes.11. Did the contact state they are satisfied with the equipment?Yes. However Alliance Ag is not the end user of the equipment.12. Were the maintenance records provided at the time of the inspection?Yes. Normal maintenance and repairs have been done as needed.13. Number of pictures taken at the time of the inspection.62I certify that, to the best of my knowledge, the information reported is accurate:Inspected by: Joel Hassevoort Inspection Date: 2/24/2020

Inspection Date: February 24, 2020Ref #: 200221A

Miedema Appraisals, Inc.Byron Center, Michigan

800.734.1112Page 1 of 2

Exhibit A

INSPECTION SUMMARY


Sikeston, Missouri

February 27, 2020

Equipment Inspection Location: Alliance Ag, 2907 State Highway 62, Sikeston, Missouri 63801 Inspection Date: February 24, 2020Description: 2017 Agco / Challenger Rogator RG1300B Self Propelled Fertilizer ApplicatorSerial Number: AGACA1300AHNS31100Hours: 1526 Metered Hours

General Description: Cab, Agco 339-HP Diesel Engine, Bosch Rexroth Hydrostatic Transmission, 4WD, 4-Wheel Steer, Hydraulic Track Adjustment, Air Ride Suspension, Valmar Airmax AM180 Row Crop Dry Fertilizer Spreader, Steel Fertilizer Box, Agri-Cover SRT-2 Spool Roll Tarp, Dual 14" Stainless Steel Mesh Conveyors, 60' Stainless Steel Air Boom, Marker System with 36-Gallon Stainless Steel Tank, Hydraulic Fold, Raven Viper Pro Control Monitor, Raven Accuboom Section Control, Front and Rear Fenders, Rear Back Up Camera, 380/90R46 TiresCab: Good condition. The interior of the cab is in overall good condition. No apparent odor and not excessively dirty. No tears in seat or buddy seat.Cab Glass: Good condition. No chips, cracks or window fogging.Cab Systems: Fair to Average condition. The Low Hydraulic fluid level light is displayed. Personnel of Alliance Ag said it was probably due to a rusted sensor. Otherwise all lights, heat and A/C functioning and maintained.Cab Components: Raven GPS System and Controls. Good condition. Appear to function and are maintained. Personnel of Alliance Ag noted the wires hanging loose in cab were for Lessee purchased electronics.Engine: Agco 339-HP Diesel Engine. Good condition. Readily starts and shuts down crisply.Transmission: Bosch Rex Roth Hydrostatic Transmission. Good condition. Seemed to shift properly.Tires: 380/90R46 Tires. No side wall damage or weather checking. All tires are holding air. Approx. 40-50% tread life remaining. Mechanical Condition: Fair to average condition. The low hydraulic fluid level light is being displayed. The fitting on the right rear hydraulic steer cylinder broke and leaking due to corrosion. Otherwise this unit runs, drives, and operates, as it was manufactured to do. Applicator Components: Fair to average condition. Steel components have scattered rust. The right boom marker hose is broke and both drop hoses are missing. The stainless steel components appeared in good condition. The conveyors, booms and blower appear to be in good condition and functioning properly. The tarp was not rolled out at the time of inspection. Exterior Condition: Fair condition. Several spots of rust, on steel components. The underside of the machine is rusted. Hydraulic fittings are rusted. No noticeable cracks in the plastic components of the machine. Overall Condition: Fair to average condition. The machine seemed to run, drive, and function as it was manufactured to do. The hydraulic fitting for steering cylinder needs to be repaired. The marker hose needs to repaired and both drop hoses need to be replaced. Maintenance: Provided. Normal maintenance and repairs have been done as needed. Estimate of Repairs: Personnel of Alliance Ag said it would cost approx. $700 to repair the hydraulic hose fitting, sensor, marker hose, and marker hose drops.Inspector Notes: Fair to average condition. Steel components showing scattered rust. Components need to be repaired or replaced.

Inspection Date: February 24, 2020Ref #: 200221A

Miedema Appraisals, Inc.Byron Center, Michigan

800.734.1112Page 2 of 2

Exhibit A

EQUIPMENT INSPECTION


Sikeston, Missouri

February 27, 2020

Representative Pictures

Inspection Date: February 24, 2020 Ref #: 200221A

Miedema Appraisals, Inc. Byron Center, Michigan

800.734.1112 Page 1 of 11

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Exhibit B

(2) Agco / Challenger Rogator RG1300B Dry Fertilizer ...

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