Marshalltown, IA

Bidding Opens: Tuesday, March 14^th
Bidding Closes: Tuesday, March 21, 2023 at 4PM

Open House of the buildings & equipment on Tuesday, March 7^th from 1PM-5PM

7± Acres – Sells in 1 Tract

Auctioneer’s Note:  Hog Facility with (6) hog buildings and a 60'x130' shop building on 7.57± Acres.

Tract 1 – Hog Confinement Facility on 7.57± Acres
Tract 1 is located approx. 3 ¾ miles south of Marshalltown on Highway 14, then ¾ miles west on 280^th St. to 2541 280^th Street, Marshalltown, IA.

The hog buildings are empty & have been cleaned.  Buildings include:
- (5) 41’x100’ hog confinement buildings, built in 1997.
- (1) 41’x114’ hog confinement building, built in 1997.
- Lester 60’x130’ building, built in 2008.  The building has a heated shop area with concrete floor, radiant heat, office with security system, ¾ bath with washer, dryer & electric water heater, 20’x16’ overhead door w/ opener & 8’x8’ overhead door.  The balance of the building is cold storage machine shed with gravel base, (2) 22’x16’ overhead doors w/ openers & (1) 16’x16 overhead door w/ opener.
- Brock 37,270 bushel grain bin, built in 2009.
- MFS 7,574 bushel grain bin, built in 2019.
- GSI 3,000 bu.(approx.) hopper bin.
- 12,000 gal. LP tank.
- 5 stall compost shed.
- Property has a 250KW backup generator, a solar panel system on the shop building and a solar panel system on one of the hog buildings.  Property has rural water & 2 wells.  All situated on 7.57 Acres M/L, located on a hard surface road.
View Grain Bin Info
View Real Estate Contract

Included: (2) Solar panel systems, Backup generator, Security system, SAR corn stove, Bushel bin, Washer, Dryer, Any item remaining on the day of final settlement/closing.
Not included: Grain dryer, 2 post vehicle lift, Air compressor, Fuel barrels, All shop equipment, Farm equipment.  (Please note the Grain Dryer, 2 post vehicle lift & Air compressor will be sold separately on the real estate timed online auction.)

Tract 2 – 40± Acres - Due to access issues, Tract 2 has been withdrawn from the auction.
Tract 2 is located 1 ½ miles south of Liscomb on Marsh Ave., then 1 ¼ miles west on 130^th St., then ½ mile south on Knapp Ave.

FSA indicates: 40.04 tillable acres of which 2.7 acres are in CRP as follows:
2.7 acres X $389.13 = $1,1051.00 and expires on 9-30-2026.
Corn Suitability Rating 2 is 95.8 on the tillable acres.
Located in Section 23, Liscomb Township, Marshall County, Iowa.

Terms: 10% down payment on March 21, 2023. Balance due at final settlement with a projected date of May 5, 2023, upon delivery of merchantable abstract and deed and all objections have been met.
Possession: Projected date of May 5, 2023.
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 8318-34-300-008 - $1,698.00 Net
Tract 2 – Parcel 8519-23-400-004  - $1,644.00 Net

Special Provisions:

• The online buyer’s premium of $1,000 per tract 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 land & buildings are selling free and clear for the 2023 farming season.
• It shall be the obligation of the Buyer to report to the appropriate County FSA office and show filed deed in order to receive the following if applicable: A. Allotted base acres. B. Any future government programs. CRP Prorate.
• 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 agrees 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.
• Tract 1 will be sold lump sum price. The Seller shall not be obligated to furnish a survey.
• Tract 2 will be sold by the acre with the Assessor acres of 40 being the multiplier used to determine the total bid amount. The Seller shall not be obligated to furnish a survey.
• The Buyer of the Tract 1 shall reimburse the Seller for the remaining gas in the LP gas tank at the current rate on the day of closing/possession, whichever takes place first.
• Tract 1, due to this being an estate, the Seller will be exempt from Time of Transfer Inspection of the septic, according to Iowa Code 455B.172(11). Any future inspections, upgrades, repairs, maintenance, or other matters to the septic system will be at the buyer's expense in accordance with Marshall County & Iowa Laws & regulations.
• 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: Troy D. Hibbs Estate
Amanda Moore – Executor
Eric R. Bidwell of Rutherford & Bidwell Law Office. – Closing Attorney for Seller

For information contact Steffes Group at 641.423.1947;
Tim Meyer at 319.750.1233 or Duane Norton at 515.450.7778

Tim Meyer - Iowa Real Estate Broker Officer - B36355000
Duane Norton - Iowa Real Estate Salesperson S64572000
Steffes Group, Inc., 2245 East Bluegrass Road, Mt. Pleasant, IA 52641