DES MOINES COUNTY IOWA LAND AUCTION

Tract 1 – 54.97 Acres M/L
FSA indicates: 27.59 tillable acres
Corn Suitability Rating 2 is 76.9 on the tillable acres.
Located in Section 23, Flint River Township, Des Moines County, Iowa.

Tract 2 – 45.18 Acres M/L
FSA indicates: 7.37 tillable acres
Corn Suitability Rating 2 is 74.2 on the tillable acres.
Located in Section 23, Flint River Township, Des Moines County, Iowa.
The tillable land is currently hay ground and the property also includes fenced pasture with a 30’x40’ open faced machine shed, 2 smaller outbuildings, Rathbun rural water and electric.  Balance of land is timber with Flint Creek running through this property.
Not included: Hay bales

View FSA 156 EZ form & Field map
View Tract 1 - Soil Map
View Tract 2 - Soil Map
View Tract 1 - Real Estate Contract
View Tract 2 - Real Estate Contract

Terms: 10% down payment on August 23, 2022. Balance due at final settlement with a projected date of October 7, 2022, upon delivery of merchantable abstract and deed and all objections have been met.
Possession: Projected date of October 7, 2022 (Subject to tenant’s rights on the tillable & hay ground)
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 – Parcels – 10-23-326-002, 10-23-400-002 - Net - $992.00
Tract 2 – Parcel – 10-23-100-012 - Net - $192.00

Special Provisions:

• This online auction will have a buyer’s premium of $1,000 per tract. This will be added to the bid amount to arrive at the total contract purchase price.
• Tracts will be tied together with the bidding set to close simultaneously. If a bid is placed with less than 4 minutes left, the time on the auction will extend another 4 minutes. This will continue until no bids are placed within the last 4 minutes. Each Tract will stay in bidding extension until there are no more bids placed on any of the Tracts that are tied together.
• Down payment is due on the day the bidding closes and signing of the contracts will take place through email and electronic document signatures. In the event the auction bidding closes after 3:00pm, the earnest money will be due the following business day.
• The farm is rented for the 2022 farming season. Seller will retain 100% of the cash rent for 2022.
• Seller shall serve termination to the tenant, therefore the land will be selling free and clear for the 2023 farming season.
• It shall be the obligation of the Buyer to report to the Des Moines County FSA office and show filed deed in order to receive the following if applicable: A. Allotted base acres. B. Any future government programs.
• Tracts 1 & 2 will be sold by the acre, with Assessor acres being the multiplier.
• The Seller shall not be obligated to furnish a survey on Tracts 1 or 2.
• 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.
• If a Buyer is unable to close due to insufficient funds or otherwise, Buyer will be in default and the deposit money will be forfeited.
• The Buyer shall be responsible for any fencing in accordance with state law.
• The Buyer shall be responsible for installing his/her own entrances if needed or desired.
• If in the future a site clean-up is required, it shall be at the expense of the Buyer.
• All mineral rights, if any, held by Seller will be transferred upon closing.
• This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.
• The Buyer acknowledges that they have carefully and thoroughly inspected the real estate and are familiar with the premises. The Buyer is buying this real estate in its "as is" condition and there are no expressed or implied warranties pertaining to the real estate.
• All lines, drawings and boundaries are approximate.
• Steffes Group, Inc. is representing the Seller.
• Any announcements made the day of sale take precedence over advertising.

Seller: R&R Development, Inc.
Rhonda J. Brown & Farmers & Merchants Bank and Trust, Co-Executors
Kelli S. Johnson – Trust Officer
Anderson, Roberts, Porth, Wallace, Stewart & Werner LLP, - Alyssa R. Stewart – Closing Attorney for Seller