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LARGE LOUISA COUNTY, IOWA LAND AUCTION

WAPELLO, IOWA
Land is generally located 1 1/2 miles south of Wapello on Highway 61, then 1 ½ miles west on 65^th Street.
Watch for auction signs.

Auction to be held at Mediapolis City Hall, 510 Main Street, Mediapolis, IA 52637

MONDAY, NOVEMBER 9, 2020 AT 10AM

552.59 Acres M/L – SELLS IN 6 TRACTS

Selling Free and Clear for the 2021 Farming Season

“Selling Choice with the Privilege”

Tracts will be selling Choice with the Privilege. High bidder may take Tract 1, Tract 2, Tract 3, Tract 4, Tract 5 or Tract 6 or any combination of tracts, in any order, times their high bid. This will continue until all tracts are sold. Tracts will not be recombined. Tracts 1 & 5 will be sold by the taxable acre. Tracts 2, 3, 4 & 6 will be sold by the surveyed acre.

Tract 1 - 160.33 acres x $$6,200 = $994,046.00

Tract 2 - 73.2 acres x $5,550 = $406,260.00

Tract 3 - 77.8 acres x $5,200 = $404,560.00

Tract 4 - 64.91 acres x $5,200 = $337,532.00

Tract 5 - 28.25 acres x $8,000 = $226,000.00

Tract 6 - 148.1 acres x $5,500 = $814,550.00

Tract #1 – 160.33 Taxable Acres M/L
Land is located 1 1/2 miles south of Wapello on Highway 61, then 1 ½ miles west on 65^th Street.

FSA indicates: 156 NHEL acres tillable.
Corn Suitability Rating 2 is 74.1 on the tillable acres.
Located in Section 9, Wapello S Township, Louisa County, Iowa.

View Soil Map

View FSA Map

Tract #2 –73.20 Surveyed Acres
Land is located 1 1/2 miles south of Wapello on Highway 61, then 2 miles west on 65^th Street, then 1 mile south on L Ave.

FSA indicates: 65.84 NHEL acres tillable.
Corn Suitability Rating 2 is 65.3 on the tillable acres.
Located in Section 8, Wapello S Township, Louisa County, Iowa.

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View Survey

Tract #3 – 77.80 Surveyed Acres
Land is located 1 1/2 miles south of Wapello on Highway 61, then 2 miles west on 65^th Street, then 1 mile south on L Ave.

FSA indicates: 70.6 NHEL acres tillable.
Corn Suitability Rating 2 is 63.3 on the tillable acres.
Located in Section 8, Wapello S Township, Louisa County, Iowa.
This tract has a 40’x45’ machine shed and a small grain bin.

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View Survey

Tract #4 – 64.91 Surveyed Acres
Land is located 1 1/2 miles south of Wapello on Highway 61, then 2 miles west on 65^th Street, then 1 mile south on L Ave.

FSA indicates: 61.40 NHEL acres tillable.
Corn Suitability Rating 2 is 62.1 on the tillable acres.
Located in Section 8, Wapello S Township, Louisa County, Iowa.

View Soil Map

View FSA Map for Tracts 2, 3 & 4

View Survey

Tract #5 – 28.25 Taxable Acres M/L
Land is located 1 1/2 miles south of Wapello on Highway 61, then 2 miles west on 65^th Street, then 2 miles southwest on L Ave, then 1/2 west on 50^th Street.

FSA indicates: 27.63 NHEL acres tillable.
Corn Suitability Rating 2 is 81.1 on the tillable acres.
Located in Section 18, Morning Sun Township, Louisa County, Iowa.

View Soil Map

View FSA Map

Tract #6 – 148.10 Surveyed Acres
Land is located 2 miles south of Wapello on Highway 61, then north on J Ave.

FSA indicates: 146.37 NHEL acres tillable.
Corn Suitability Rating 2 is 72.4 on the tillable acres.
Located in Section 11, Wapello S Township, Louisa County, Iowa.

View Soil Map

View FSA Map

View Survey

TERMS ON ALL TRACTS

Terms:10% down payment on November 9, 2020. Balance due at closing with a projected date of December 23, 2020, upon delivery of merchantable abstract and deed and all objections have been met.

Possession: Projected date of December 23, 2020 (Subject to tenant’s rights).

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                          $6,232.29
Ag Land Cr.               ($294.17)
Net                              $5,940.00 (Rounded)
Drainage:                  $1,348.00

Real Estate Taxes on Tract #2
Gross                          $2,388.11
Ag Land Cr.               ($66.96)
Net                              $2,319.00 (Rounded)
Drainage:                  $629.00

Real Estate Taxes on Tract #3
Gross                          $2,623.28
Ag Land Cr.               ($72.64)
Net                              $2,549.00 (Rounded)
Drainage:                  $679.00

Real Estate Taxes on Tract #4
Gross                          $2,122.92
Ag Land Cr.                 ($59.55)
Net                              $2,064.00 (Rounded)
Drainage:                  $412.00

Real Estate Taxes on Tract #5
Gross                          $1,276.76
Ag Land Cr.               ($35.72)
Net                              $1,242.00 (Rounded)

Real Estate Taxes on Tract #6
Gross                          $5,389.29
Ag Land Cr.               ($254.26)
Net                              $5,134.00 (Rounded)
Drainage:                  $1,334.00

Special Provisions:

The seller has served termination to the tenant on the tillable ground and is selling free and clear for the 2021 farming season.
It shall be the obligation of the buyer(s) to report to the appropriate 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.
Tracts 2, 3, 4 & 6 will be surveyed. Seller shall not be obligated to furnish a survey on any other tracts. If the recorded survey is different than the announced surveyed acres, adjustments to the final contract price will be made accordingly at closing on only the Tracts where the surveyed acres were used for the multiplier.
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(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) 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.