BENTON COUNTY, IOWA LAND AUCTION

LA PORTE CITY, IOWA
Land is located 4 miles south of La Porte City on Highway 218,
then 1 ¼ miles west on 53^rd Street/County Highway D65.

Bidding Opens: Thursday, December 23     

Bidding Closes: Thursday, December 30, 2021 at 1PM

135.8 Acres M/L – Sells in 2 Tracts

90.9 CSR2!

Tract 1 – 75.8 Deeded Acres M/L

FSA indicates: 72.53 acres tillable.
Corn Suitability Rating 2 is 90.9 on the tillable acres.
Located in Section 22 of Bruce Township, Benton County, Iowa.

View Tract 1 Soil Map

Tract 2 – 60 Deeded Acres M/L

FSA indicates: 58.39 acres tillable.
Corn Suitability Rating 2 is 88.6 on the tillable acres.
Located in Section 15 of Bruce Township, Benton County, Iowa.

View Tract 2 Soil Map

View FSA Information

Terms: 10% down payment on December 30, 2021. Balance due at final settlement with a projected date of February 14, 2022, upon delivery of merchantable abstract and deed and all objections have been met.

Possession: Projected date of February 14, 2022 (Subject to tenant's lease).

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 – Parcel 35002310 - Net $ 2,686.00 (Rounded)}

_{Tract 2 – Parcel 35002350 - Net $ 2,116.00 (Rounded)}

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.
• Bidding on Tracts 1 & 2 will be by the acre.  Deeded acres will be used as the multiplier to determine the total bid amount.  Seller shall not be obligated to furnish a survey on any Tracts. 
• 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 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 in 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.
• Tracts 1 & 2 are rented for the 2022 farming season.  The tenant will pay the cash rent to the Buyer as follows: Tract 1 - $275 x 73.5 acres = $20,212.50. Tract 2 - $275 x 58.5 acres = $16,087.50.  The first half cash rent is due April 1, 2022 and the second half cash rent is due October 1, 2022. 
• It shall be the Buyer(s) responsibility to serve tenant notice prior to September 1, 2022, if so desired.
• 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 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.
• 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 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.
• All mineral rights, if any, held by Seller will be transferred to Buyer 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 Buyers 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.

Dorothy M. Boldt Revocable Trust

Bruce D. Boldt – Trustee

Corey R. Lorenzen – Attorney for Seller

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

Downloads:
Tract 1 Soil Map
Tract 2 Soil Map
FSA Information