Jefferson County, Iowa Land Auction

Lockridge, Iowa

Open House on Tuesday, November 5, 2019 from 10-11AM

Tract #1 – 112.44 Taxable Acres M/L
Tract #1 is located 5 miles south of Lockridge, on Hwy W40/Glasgow Road.

FSA indicates: 90.43 acres tillable.
Corn Suitability Rating 2 of 55.9 on the tillable.
Located in Section 21, Round Prairie Township, Jefferson County, Iowa

Real Estate Taxes on Tract #1
Gross                          $2,361.53
Ag. Credit                      ($68.50)
Family Farm Credit      ($47.82)
Net (rounded)           $2,248.00

Tract #2 – 77.02 Taxable Acres M/L

Tracts #2 & 3 are located 6 1/2 miles south of Lockridge, on Hwy W40/Glasgow Road, then ½ mile south on Tamarack Ave.

Approx. 66 acres tillable.  This tract also has an older 45’x64’ machine shed & a pond.
Corn Suitability Rating 2 of 52.1 on the tillable.
Located in Section 20, Round Prairie Township, Jefferson County, Iowa

Real Estate Taxes on Tract #2Gross                          $1,524.89
Ag. Credit                      ($43.84)Family Farm Credit      ($30.61)
Net (rounded)           $1,450.00

Tract #3 – 77.15 Taxable Acres M/LTracts #2 & 3 are located 6 1/2 miles south of Lockridge, on Hwy W40/Glasgow Road, then ½ mile south on Tamarack Ave.

Approx. 66 acres tillable, balance being timber.
Corn Suitability Rating 2 of 55.8 on the tillable.

Located in Section 20, Round Prairie Township, Jefferson County, Iowa

Real Estate Taxes on Tract #3
Gross                          $1,527.91
Ag. Credit                      ($44.27)
Family Farm Credit      ($30.91)
Net (rounded)           $1,452.00

Tract #4 – 94.52 Taxable Acres M/L
Tracts #4 is located 6 1/2 miles south of Lockridge, on Hwy W40/Glasgow Road, then 3 miles south on Tamarack Ave.

FSA indicates: 79.5 acres tillable.Corn Suitability Rating 2 of 55 on the tillable.
Located in Section 31, Round Prairie Township, Jefferson County, Iowa

Real Estate Taxes on Tract #4
Gross                          $1,880.28
Ag. Credit                      ($54.54)
Family Farm Credit      ($38.09)
Net (rounded)           $1,788.00

Tract #5 – Home and Outbuilding on 1.68 Taxable Acres M/LTracts #5 is located 6 1/2 miles south of Lockridge, on Hwy W40/Glasgow Road, then 3 miles south on Tamarack Ave to 2772 Tamarack Avenue, Stockport, IA.

Looking for an affordable acreage?  Check out this three bedroom home built in 2003 with 1,040 sq.ft. of living space.  The home offers a living room and an eat in kitchen with refrigerator, gas stove & dishwasher.  Bedrooms include a master bedroom with master bath and two more bedrooms with a full bath.  Other amenities include a laundry area with washer & dryer, gas forced air furnace with central air and rural water.  A bonus to this acreage is the 30’x60’ garage/shop with 2 garage doors & concrete floors.  All situated on 1.68 Taxable Acres M/L.

Included: Refrigerator, Stove, Dishwasher, 500 gal LP tank

Real Estate Taxes on Tract #5
Gross                          $1,395.73
Homestead Cr.         ($129.55)
Net (rounded)           $1,266.00

TERMS ON ALL TRACTS

Possession: Projected date of January 3, 2020. (Subject to tenant’s rights on the tillable land.)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.

Special Provisions:

• Termination on the tillable ground has been served by the seller to the tenant.  Land is selling free and clear for the 2020 farming season.
• It shall be the obligation of the buyer(s) to report to the Jefferson 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. Please note that the final tillable acres will be determined by the FSA office, as some fields are combined and/or overlap Tract lines. 
• Seller shall not be obligated to furnish a survey.
• 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 Jefferson County & Iowa Laws & regulations.
• Tract #5 Buyer shall reimburse the Seller for the remaining LP gas in the LP tank on the day of closing, at the current market rate.
• This auction sale is not contingent upon Buyer obtaining 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.

Owner: Richard H. Smith Estate
Timothy W. Smith - Administrator

Tim B. Kuiken – Attorney for Estate

For information contact auction manager Terry Hoenig of
Steffes Group, 319.385.2000 or by cell, 319.470.7120

Downloads:
Tract 1 Soil Map
Tract 2 Soil Map
Tract 3 Soil Map
Tract 4 Soil Map
FSA Information & Maps
Tract 1 - Day of Auction Contract
Tract 2 - Day of Auction Contract
Tract 3 - Day of Auction Contract
Tract 4 - Day of Auction Contract
Tract 5 - Day of Auction Contract