TIMED ONLINE
BENTON COUNTY IOWA LAND AUCTION

KEYSTONE, IOWA
Land is located 2 miles west of Keystone on 71^st Street.

Bidding Opens: Tuesday, November 3 

Bidding Closes: Tuesday, November 10, 2020 at 4PM

367.36 Acres M/L – Sells in 2 Tracts

92 CSR2

Selling Free & Clear for 2021

Tract #1 – 167.36 Acres M/L
Approx. 146.77 acres tillable, of which 10.2 acres are in CRP as follows:
10.2 acres at $347.82 = $3,548.00 and expires on 9-30-2024.
Corn Suitability Rating 2 is 92 on the tillable acres.
Located in Section 16, Kane Township, Benton County, Iowa.

 View Tract 1 Soil Map

Tract #2 – 200 Acres M/L
FSA indicates 184.18 acres tillable, of which 20.29 acres are in CRP as follows:
20.29 acres at $332.58 = $6,748.00 and expires on 9-30-2023.
Corn Suitability Rating 2 is 88.8 on the tillable acres.
Located in Section 21, Kane Township, Benton County, Iowa.

View Tract 2 Soil Map

View FSA Map

Not Included: Crops

Terms: 10% down payment on November 10, 2020. Balance due at final settlement with a projected date of December 28, 2020, upon delivery of merchantable abstract and deed and all objections have been met.

Possession: Projected date of December 28, 2020.

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.

Tract 1 - Real Estate Taxes:

Gross                $5,151.56      

Ag. Credit           ($207.78)
Net (Approx.)    $4,944.00

Tract 2 - Real Estate Taxes:

Gross                $6,140.86      

Ag. Credit           ($247.69)
Net (Rounded)    $5,894.00

Special Provisions:

• This online auction will have a buyer’s premium of $1,000 per Tract.  This will be added to the total bid amount to arrive at the total contract purchase price.
• The seller shall not be obligated to furnish a survey on Tracts #1 or #2.  Tracts #1 & 2 will be sold by the acre, with assessor’s gross acres being the multiplier.  On Tract #1, the survey of the home not selling will be deducted from assessor’s gross acres.  (Tract #1 the assessor’s gross acres of 171.75, less the acres of the home of 4.39 acres, making the multiplier for Tract #1 – 167.36 acres.)  If the recorded survey is different than the announced acres, adjustments to the final contract price will be made accordingly at closing on only Tract #1.
• Down payment is due on the day the bidding closes and signing of the contracts will take place through email and electronic document signatures.
• Tracts will be tied together meaning the bidding will be set to close simultaneously. Each Tract tied together will stay in extension until there are no more bids placed on any of the Tracts that are tied together.­
• The land is selling free and clear for the 2021 farming season.
• It shall be the obligation of the buyer to report to the Benton 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. CRP Prorate.  Please note final tillable acres will be determined by the FSA office.
• Buyer agrees to follow all requirements of conservation plans and practices required by the FSA to maintain eligibility in the Conservation Reserve Program. Buyer agrees to accept responsibility and liability for any actions by the buyer which would endanger eligibility for the CRP or actions that would require repayment of the CRP payment or payments. Buyer further agree to indemnify and hold harmless the sellers 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 elects to take the ground out of CRP, the buyer will be responsible to the seller for any prorate of the CRP payment that the seller would have received.
• 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).
• This auction sale is not contingent upon Buyer’s financing or any other Buyer contingencies.
• Purchasers who are unable to close due to insufficient funds or otherwise, will be in default and the deposit money will be forfeited.
• The buyer(s) shall be responsible for any fencing in accordance with Iowa state law.
• The buyer(s) will be responsible for installing his/her own entrance, if needed or desired.
• If in the future a site clean-up is required, it shall be at the expense of the buyer.
• 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) acknowledge that they have carefully and thoroughly inspected the real estate and are familiar with the premises. The buyer(s) are buying this real estate in its "as is" condition and there are no expressed or implied warranties pertaining to the real estate.
• Steffes Group, Inc. is representing the Seller.
• Any announcements made the day of sale take precedence over advertising.

Edna E. Heitmann Estate & Edna E. Heitmann Trust

Jennifer L. Zahradnik - Attorney for Seller

For information contact Nate Larson at Steffes Group, 319.385.2000 or 319.931.3944

Downloads:
Tract 1 Soil Map
Tract 2 Soil Map
FSA Map
Day of Auction Contract