LARGE DES MOINES COUNTY LAND AUCTION

BURLINGTON, IOWA
Land is located 6 miles south of Burlington on Highway 61.  Watch for auction signs.

Auction to be held at the Comfort Suites Hotel & Conference Center, 1780 Stonegate Center Drive, Burlington, Iowa.  

THURSDAY, OCTOBER 25, 2018 AT 10:00 A.M.

367 Acres M/L – SELLS IN 5 TRACTS (Subject to final survey)

Selling Free and Clear for 2019!!

“Selling Choice with the Privilege”
Tracts #1, 2, 3, & 4 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, Tract #3, Tract #4, or any combination of tracts times their high bid.  This will continue until Tracts #1-4 are sold.  Then Tract #5 will be sold. Tracts will not be recombined.

TRACT #1 – 34.5 Acres M/L – Subject to final survey
FSA info: Approx. 30 acres tillable, Tracts #1 & 2 have a combined 70.04 acres tillable.
This tract would make an excellent future building site.  This tract already has a 42’x64’x14’ pole building with a 15’x16’ finished office and an open porch area, all built in 2015.  Other buildings include a 27’x100’ open machine shed and a 30’x97’ open machine shed.  Entrance to this property is off of Rock Spring Road.  Rural water is on the property.
Corn Suitability Rating 2 of 46.8 (51.2 CSR) on the tillable.
Located in Section 34, Union East Township, Des Moines County, Iowa.

Not Included: 2018 crops, Farm machinery, All personal property in shed.

Real Estate Taxes on Tract #1
Gross                        $1,185.48
Ag. Credit                  ($39.94)
Net                            $1,146.00  Approx.

TRACT #2 – 41.5 Acres M/L – Subject to final survey
FSA info: Approx. 40 acres tillable, Tracts #1 & 2 have a combined 70.04 acres tillable.
Corn Suitability Rating 2 of 84.8 (86 CSR) on the tillable.
Located in Section 34, Union East Township, Des Moines County, Iowa.

Not Included: 2018 crops

Real Estate Taxes on Tract #2
Gross                        $1,484.95
Ag. Credit                   ($66.48)
Net                            $1,418.00 Approx.

TRACT #3 – 54.7 Acres M/L – Subject to final survey
FSA info: Approx. 38.62 acres tillable, of which approx.16.3 acres are in the CRP program as follows:
16.3 acres at $134.80 = $2,197.00 and expires on 9-30-2019.
2 acres at $230.88 = $462 and expires on 9-30-2020.
Corn Suitability Rating 2 of 52.8 on the entire farm.
Located in Sections 34, Union East Township, Des Moines County, Iowa.

Not Included: 2018 crops

Real Estate Taxes on Tract #3
Gross                        $1,446.87
Ag. Credit                      ($64.59)
Net                            $1,382.00 Approx.

TRACT #4 – 42.56 Acres M/L – Subject to final survey
FSA info: Approx. 31.23 acres tillable, of which approx.. 20 acres are in the CRP program as follows:
20 acres at $134.80 = $2,696.00 and expires on 9-30-2019.
Corn Suitability Rating 2 of 64.7 on the entire farm.
Located in Section 27, Union East Township, Des Moines County, Iowa.

Not Included: 2018 crops

Real Estate Taxes on Tract #4
Gross                        $1,282.86
Ag. Credit                      ($57.31)
Net                            $1,226.00 Rounded

TRACT #5 – 194 Acres M/L – Subject to final survey
FSA info: 174.60 acres tillable, of which 23 acres are in the CRP program as follows:  23 acres at $248.98 = $5,440 and expires on 9-30-2020.
Corn Suitability Rating 2 of 80.9 on the tillable.
Located in Sections 2, 3 & 35, Union East Township, Des Moines County, Iowa.

Not Included: 2018 crops

Real Estate Taxes on Tract #5
Gross                        $7,106.44
Ag. Credit                   ($320.34)
Net                            $6,786.00 Rounded

Terms: 20% down payment on October 25, 2018. Tracts # 1 & #2: Balance at closing with a projected date of December 10, 2018, upon delivery of merchantable abstract and deed and all objections have been met.  Tracts #3, #4 & #5: Balance at closing with a projected date of January 2, 2019, upon delivery of merchantable abstract and deed and all objections have been met.
Possession: Tracts # 1 & #2: Projected date of December 10, 2018.  Tracts #3, #4 & #5: Projected date of January 4, 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.

Special Provisions:

·       This is a 5% buyer’s premium auction.  This means the buyer’s premium in the amount of five percent (5%) of the bid amount shall be charged to the Buyer(s) and added to the bid amount to arrive at the final contract purchase price.

·       The farm is selling free and clear for the 2019 farming season and immediate tillage rights will be granted.

·       It shall be the obligation of the buyer(s) to report to the Des Moines 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.  C. Prorate of CRP.  Final tillable acres will be determined by the Des Moines County FSA office.

·       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 agree 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. In the event the buyer elects to take the ground out of CRP, the buyer will be responsible to the seller for any prorate of the CRP payment that the seller would have received

·       All 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: Leonardale Farms, Inc.
James W. Miller – Attorney for Seller

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