HENRY & JEFFERSON COUNTY LAND AUCTION

SOLD
Tract #1 - $5,900 per acre
Tract #2 - $3,400 per acre

Location:  Auction will be held at Wayland City Hall, 218 West Main Street, Wayland, Iowa.  Farm is located 3 miles south of Wayland on W55/Franklin Avenue, then 3-1/4 miles west on 140^th Street, then 1-1/4 miles north on Ash Avenue. OR 3-1/2 miles south of Coppock, Iowa on Ash Avenue. 

• 139 Acres M/L – Selling In Two Tracts (Subject to final survey)
• Tillable ground
• Selling Choice with the privilege
• High bidder may take Tract #1 or Tract #2 or both tracts!
  
  
  

TRACT #1 – 43 Acres M/L(Subject to final survey)
FSA information: 34.88 acres tillable.
Balance is timber.
Corn suitability rating on the tillable of 73.7 and 66.8 on the entire farm.
Located in Section 19, Jefferson Township, Henry County, Iowa.

TRACT #2 - 96 Acres M/L(Subject to final survey)
FSA information: 66.81 acres tillable of which 12.6 is in CRP as follows:
5.3 acres at $165.21 = $876.00 and expires on 9-30-2017
7.3 acres at $133.35 = $973.00 and expires on 9-30-2017
$1,849 Total CRP Payment
Balance of land is timber and borders the Skunk River and barn.
Corn suitability rating of 73.8 on the entire farm.
Located in Section 19, Jefferson Township, Henry County, Iowa and Section 24, Walnut Township, Jefferson County, Iowa

Reserved: All equipment & personal property.

Please note that all lines and acres are approximate and the final survey will determine the acres, multiplier and boundary lines.

Information on entire farm:
115 bushel corn yield and a 39.5 acre corn base
32 bushel bean yield and a 41.9 acre bean base
32 bushel wheat yield and a 2.9 acre wheat base
51 bushel oat yield and a 2.9 acre oat base

TERMS & CONDITIONS

TERMS:20% down payment on January 30, 2014. Balance at closing with projected date of February 28, 2014 upon delivery of merchantable abstract and deed.
POSSESSION:Projected date of February 28, 2014.

REAL ESTATE TAXES: To be prorated to date of possession on the basis of the last available tax statement. Seller shall pay any unpaid real estate taxes payable in prior years.

The following taxes are approximate

Tract #1

Gross - $405.48

Ag Cr. - $31.93

Family Farm - $19.04

Net - $354.00

Tract #2

Gross - $1,702.31

Ag Cr. - $120.22

Family Farm - $23.79

Net - $1,558.00

Special Provisions:

• There is a 25’ wide easement through Tract #1 and adjoining land owner for the purpose of ingress and egress to Tract #2 and for adjoining land owners.
• Due to County Regulations, there is a residential building restriction on Tract #2.
• Buyer(s) shall cooperate by signing any needed paperwork at no additional cost to them in a 1031 exchange if the seller opts to do so.
• If one buyer purchases more than one tract the seller shall only be obligated to furnish one abstract and deed. (husband & wife constitute one buyer)
• It shall be the obligation of the buyer(s) to report to the Henry County FSA office and show filed deed in order to receive the following if applicable: A. Allotted base acres. B. Any future government programs. C. Prorate of CRP

The CRP payment on Tract #2 is as follows:
  5.3 acres at $165.21 = $876.00 and expires on 9-30-2017
  7.3 acres at $133.35 = $973.00 and expires on 9-30-2017

• Buyer(s) agrees to follow all requirements of conservation plans and practices required by the FSA to maintain eligibility in the Conservation Reserve Program. Buyer(s) agrees to accept responsibility and liability for any actions by the buyer(s) which would endanger eligibility for the CRP or actions that would require repayment of the CRP payment or payments. Buyer(s) further agrees to indemnify and hold harmless the sellers/tenant for any recovery sought by the FSA due to actions of buyer, which would violate the requirements of the CRP. In the event the buyer(s) elect to take the ground out of CRP, the buyer(s) will be responsible to the seller/tenant for any prorate of the CRP payment that the seller/tenant would have received.
• Both Tracts will be surveyed by a registered land surveyor and surveyed acres will be the multiplier.
• The buyer(s) shall be responsible for any fencing in accordance with Iowa state law.
• The buyer(s) shall be responsible for installing his/her own entrances if needed or desired.
• If in the future a site cleanup is required it shall be at the expense of the buyer(s).
• This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.
• The buyer(s) acknowledges that he/she has carefully and thoroughly inspected the real estate and is familiar with the premises. The buyer(s) is buying this real estate in its "as is" condition and there are no expressed or implied warranties pertaining to the same.

Owner: Michael J. Keller
Gary L. Wiegel – Attorney

For information contact Mt. Pleasant Office

at 319.385.2000

Downloads:
Tract 1 Soil Map - Entire
Tract 1 Soil Map - Tillable
Tract 2 Soil Map - Tillable
Tract 2 Soil Map - Entire
Aerial of Tract #1 & #2
Plat of Farm