Machinery and Equipment Inspection of

Alliance Ag Equipment, LLC Agco/Challenger Rogator 1300B Fertilizer Spreader #2

SN AGCA1300HGNS31132

Prepared by Brent Dommisse

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

EQUIPMENT INSPECTION

Alliance Ag Equipment, LLC Agco/Challenger Rogator 1300B Fertilizer Spreader

SN AGCA1300HGNS31132

June 24, 2019

Equipment Inspection Location: 4124 Highway 70 W, Forrest City, Arkansas

Inspection Item: 5

Inspection Date: June 18, 2019

Description: 2016 Agco/Challenger Rogator 1300B Fertilizer Spreader #2

Serial Number: AGCA1300HGNS31132

Hours: 1286 Metered HoursGeneral Description: Cab, 253-HP Diesel Engine, Hydrostatic Transmission, Valmar Airmax AM180 Row Crop Dry Fertilizer Spreader, Steel

Fertilizer Box With Stainless Steel Insert, Agri-Cover SRT-2 Spool Roll Tarp, Dual 14" Steel Mesh Conveyors, 60' Air Boom, Hydraulic Fold, Raven

Monitor, Rear Camera, 650/65R38 Tires

Cab: The interior of the cab is in overall good condition. No apparent odor and not excessively dirty.

Cab Glass: Good Condition. No cracks or chips.

Cab Systems and Components: Good Condition. Raven monitor, GPS system, backup camera all functioning and maintained. No warning dash

lights displayed. Interior lights functioning. A/C and heat in operating order.

Engine: 253-HP Diesel Engine. Readily starts and shuts down crisply.

Transmission: Hydrostatic. Seemed to shift properly.

Tires: 650/65R38 Tires. Good Condition. No side wall damage. Approx. 85% to 80% tread remaining.

Mechanical Condition: Good Condition. The conveyors operate properly. The airflow system operates properly and the booms extend

properly. Operates as it was manufactured to do.

Applicator Components: Good Condition. Fertilizer Box is in good operating condition. Stainless steel insert is in good condition. Conveyors

are operational and in good condition. Air Flow operates and booms extend properly. Tarp is in operating condition.

Exterior Condition: Good Condition. There are a few rust spots on the rear bumper, the front and rear ladders as well as the walkways and

platforms.

Overall Condition: Good Condition.

Maintenance: This unit has received regular preventative maintenance. The maintenance records were not able to be printed out, but are

shown with representative pictures in exhibit A.

Estimate of Repairs: Not available.

Inspection Date: June 17, 2019

Ref #: 190612A-5

Miedema Appraisals, Inc.

Byron Center, Michigan

800.734.1112

Page 1 of 1

Exhibit A

Exhibit A

EQUIPMENT INSPECTION – EXHIBIT A

Alliance Ag Equipment, LLC Agco/Challenger Rogator 1300B Fertilizer Spreader #2

SN AGCA1300HGN31132

June 24, 2019

Representative Pictures

Inspection Date: June 18, 2019 Ref #: 190612A-4

Miedema Appraisals, Inc. Byron Center, Michigan

800.734.1112 Page 1 of 12

Exhibit B

EQUIPMENT INSPECTION – EXHIBIT A

Alliance Ag Equipment, LLC Agco/Challenger Rogator 1300B Fertilizer Spreader #2

SN AGCA1300HGN31132

June 24, 2019

Representative Pictures

Inspection Date: June 18, 2019 Ref #: 190612A-4

Miedema Appraisals, Inc. Byron Center, Michigan

800.734.1112 Page 2 of 12

Exhibit B

EQUIPMENT INSPECTION – EXHIBIT A

Alliance Ag Equipment, LLC Agco/Challenger Rogator 1300B Fertilizer Spreader #2

SN AGCA1300HGN31132

June 24, 2019

Representative Pictures

Inspection Date: June 18, 2019 Ref #: 190612A-4

Miedema Appraisals, Inc. Byron Center, Michigan

800.734.1112 Page 3 of 12

Exhibit B

EQUIPMENT INSPECTION – EXHIBIT A

Alliance Ag Equipment, LLC Agco/Challenger Rogator 1300B Fertilizer Spreader #2

SN AGCA1300HGN31132

June 24, 2019

Representative Pictures

Inspection Date: June 18, 2019 Ref #: 190612A-4

Miedema Appraisals, Inc. Byron Center, Michigan

800.734.1112 Page 4 of 12

Exhibit B

EQUIPMENT INSPECTION – EXHIBIT A

Alliance Ag Equipment, LLC Agco/Challenger Rogator 1300B Fertilizer Spreader #2

SN AGCA1300HGN31132

June 24, 2019

Representative Pictures

Inspection Date: June 18, 2019 Ref #: 190612A-4

Miedema Appraisals, Inc. Byron Center, Michigan

800.734.1112 Page 5 of 12

Exhibit B

EQUIPMENT INSPECTION – EXHIBIT A

Alliance Ag Equipment, LLC Agco/Challenger Rogator 1300B Fertilizer Spreader #2

SN AGCA1300HGN31132

June 24, 2019

Representative Pictures

Inspection Date: June 18, 2019 Ref #: 190612A-4

Miedema Appraisals, Inc. Byron Center, Michigan

800.734.1112 Page 6 of 12

Exhibit B

EQUIPMENT INSPECTION – EXHIBIT A

Alliance Ag Equipment, LLC Agco/Challenger Rogator 1300B Fertilizer Spreader #2

SN AGCA1300HGN31132

June 24, 2019

Representative Pictures

Inspection Date: June 18, 2019 Ref #: 190612A-4

Miedema Appraisals, Inc. Byron Center, Michigan

800.734.1112 Page 7 of 12

Exhibit B

EQUIPMENT INSPECTION – EXHIBIT A

Alliance Ag Equipment, LLC Agco/Challenger Rogator 1300B Fertilizer Spreader #2

SN AGCA1300HGN31132

June 24, 2019

Representative Pictures

Inspection Date: June 18, 2019 Ref #: 190612A-4

Miedema Appraisals, Inc. Byron Center, Michigan

800.734.1112 Page 8 of 12

Exhibit B

EQUIPMENT INSPECTION – EXHIBIT A

Alliance Ag Equipment, LLC Agco/Challenger Rogator 1300B Fertilizer Spreader #2

SN AGCA1300HGN31132

June 24, 2019

Representative Pictures

Inspection Date: June 18, 2019 Ref #: 190612A-4

Miedema Appraisals, Inc. Byron Center, Michigan

800.734.1112 Page 9 of 12

Exhibit B

EQUIPMENT INSPECTION – EXHIBIT A

Alliance Ag Equipment, LLC Agco/Challenger Rogator 1300B Fertilizer Spreader #2

SN AGCA1300HGN31132

June 24, 2019

Representative Pictures

Inspection Date: June 18, 2019 Ref #: 190612A-4

Miedema Appraisals, Inc. Byron Center, Michigan

800.734.1112 Page 10 of 12

Exhibit B

EQUIPMENT INSPECTION – EXHIBIT A

Alliance Ag Equipment, LLC Agco/Challenger Rogator 1300B Fertilizer Spreader #2

SN AGCA1300HGN31132

June 24, 2019

Representative Pictures

Inspection Date: June 18, 2019 Ref #: 190612A-4

Miedema Appraisals, Inc. Byron Center, Michigan

800.734.1112 Page 11 of 12

Exhibit B

EQUIPMENT INSPECTION – EXHIBIT A

Alliance Ag Equipment, LLC Agco/Challenger Rogator 1300B Fertilizer Spreader #2

SN AGCA1300HGN31132

June 24, 2019

Representative Pictures

Inspection Date: June 18, 2019 Ref #: 190612A-4

Miedema Appraisals, Inc. Byron Center, Michigan

800.734.1112 Page 12 of 12

Exhibit B