LEE COUNTY LAND AUCTION

FARMINGTON, IOWA
Land is located 4 miles north of Farmington on W46 OR 1 ½ miles south of Mt. Hamill on W55, then 4 miles west on J40, then 2 miles south on 110^th Avenue, then ½ mile west on 180^th Street.  Watch for auction signs.

Auction to be held at the Mt. Hamill Tap, Mt. Hamill, IA.  Location address is 1467 155th Ave, Donnellson, IA

300.67 Surveyed Acres – SELLS IN 2 TRACTS

Tract 1 Survey <Click Here>

Tract 2 Survey <Click Here>

Selling Free & Clear for 2019

LAND SOLD FOR:

Tract #1 - $2,425.00 x 228.99 = $555,300.75

Tract #2 - $3,075.00 x 71.68 = $220,416.00

“Selling Choice with the Privilege”
Tracts #1 & 2 will be sold price per surveyed acre and will be sold Choice with the Privilege, whereas the high bidder may take Tract #1, Tract #2 or both tracts times their high bid.  This will continue until both tracts are sold.  Tracts will not be recombined.

TRACT #1 – 228.99 Surveyed Acres
Approx. 105 acres tillable, balance being pasture, pond & timber.
Corn Suitability Rating 2 of 51.3 on the tillable.
Located in Section 7, Harrison Township, Lee County, Iowa.

TRACT #2 – 71.68 Surveyed Acres
14.52 acres tillable, balance being pasture, pond & timber.
Corn Suitability Rating 2 of 63 on the tillable.
Located in Section 7, Harrison Township, Lee County, Iowa.

Terms: 10% down payment on March 1, 2019. Balance due at closing with a projected date of March 29, 2019, upon delivery of merchantable abstract and deed and all objections have been met.
Possession: Projected date of March 29, 2019.
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.

Real Estate Taxes on Tract #1
Gross                        $3,059.18
Ag. Credit                ($246.01)
Family Farm Credit      ($171.32)
Net                              $2,642.46 Rounded

Real Estate Taxes on Tract #2
Gross                        $1,094.98
Ag. Credit                 ($90.49)
Family Farm Credit       ($63.09)
Net                              $942.00  Rounded

Special Provisions:

• The land is selling free and clear for the 2019 farming season.
• It shall be the obligation of the buyer(s) to report to the Lee County FSA office and show filed deed(s) in order to receive the following if applicable:   A. Allotted base acres.  B. Any future government programs.  Final tillable acres will be determined by the Lee County FSA office, as some tillable acres are staying with the homestead not selling.
• Both Tracts will be surveyed by a registered land surveyor and surveyed acres will be the multiplier for said tracts.
• 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.
• 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).
• The buyer(s) 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.
• 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 same.
• Steffes Group, Inc. is representing the Seller.
• Any announcements made the day of sale take precedence over advertising.

Owners: Farmers Savings Bank of Wever

William R. Jahn, Jr. – Attorney for Seller

Downloads:
Tract 1 Soil Map
Tract 2 Soil Map
Tract 1 Survey Plat Overlay
Tract 1 Survey Plat
Tract 2 Survey Plat
Tract 2 Survey Overlay
Day of Auction Contract - Tract 1
Day of Auction Contract - Tract 2