WEDNESDAY, SEPTEMBER 6th, 2017, at 10:00 AM





Jeffrey T. Obrecht (515-689-1648)

LISTING #17121

DESCRIPTION: 120 acres m/l to be offered at auction on Wednesday, September 6th, at 10:00 AM. This property consists of 120 acres m/l, of which there are 116 taxable acres and 114.22 cropland acres. This property has an average CSR2 of 89, with the county average CSR2 being 75.4.

DIRECTIONS: From Independence, Iowa, go south at Highway #20 Exit #252 to 238th Street, then go west ½ mile to Illinois Avenue, then go south ½ mile on Illinois Avenue to 245th Street, then go west on 245th Street approximately 2 miles to Gabriel Avenue, then ¼ mile north. Property is located on the east side of Gabriel Avenue. Or from Exit #245, go south to 240th Street, then east 4.5 miles to Gabriel Avenue. Property is located in the SE corner of the intersection of Gabriel Avenue and 240th Street. Please watch for real estate signs.

LEGAL DESCRIPTION: The North One-Half of the Northwest Quarter (N1/2 NW1/4); Northwest Quarter of the Northeast Quarter (NW1/4 NE1/4) of Section Thirteen (13), Township Eighty-eight (88) North, Range Ten (10), West of the 5th P.M., Buchanan County, Iowa. Please refer to abstract for exact legal description.


Cropland: 114.22 acres

Corn Base: 85.6 acres PLC Yield: 178 bu.

Bean Base: 28.5 acres PLC Yield: 53 bu.

This farm is classified as Non-Highly Erodible Land with no Wetlands Determination complete at this time.

This farm is also being sold with a perpetual manure easement. Contact auctioneer for details of this agreement. *Sellers will sell the farm with the option of a manure easement or without the option of the manure easement.*

FARM LEASE: The subject property is owner-operated for the 2017 crop year, with Sellers retaining the 100% of the farm revenue for 2017. The farm is open for the 2018 crop year. Contact auctioneer for details.

LISTING #17121 Terms and Conditions

SALE METHOD: This property will be sold as one tract of 120 acres m/l.

IMPROVEMENTS: The subject property has been tiled on 45’ integrals. Contact auctioneer for details and any maps that may be available.

TAXES: $3638/year or $31.36/taxable acre. Property taxes will be prorated to date of closing.

MINERALS: All mineral interests owned by the Seller, if any, will be conveyed to the Buyer.

EARNEST PAYMENT: A 15% earnest money payment is required on the day of the auction. The earnest payment may be paid in the form of cash or check. All funds will be held in the named attorney’s trust account.

POSSESSION: Possession will be granted at closing, on or about October 15, 2017. Fall field work will be permitted after the 2017 crop has been harvested.

CONTRACT AND TITLE: Immediately upon conclusion of the auction the high bidder will enter into a real estate contract and deposit with Mid Iowa Real Estate, Auctions, & Appraisals the required earnest payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon buyer financing. Seller to pay all escrow closing costs.

CLOSING: Closing will occur on or about October 15, 2017. The balance of the purchase price will be payable at closing in cash, guaranteed check, or wire transfer.

SURVEY: At the Seller’s option, the Seller shall provide a new survey where there is not an existing legal or where new boundaries are created. The Seller will be responsible for any survey costs.

BIDDER REGISTRATION: All prospective bidders must register with the auction company and receive a bidder’s number in order to bid at the auction.

ATTORNEY: Phil Brooks

SELLER: Toale Farms, LTD

This sale is subject to all easements, covenants, leases and restrictions of record. All property is sold on an “As is—Where is” basis with no warranties or guarantees, expressed or implied, made by the Realtor or Seller. All map boundaries are approximate, and photographs used may or may not depict the actual property. All bids will be on a per acre basis. Seller reserves the right to accept or reject any and all bids.

Mid Iowa Real Estate, Auctions, & Appraisals and its representatives are agents of the Seller. Winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made auction day by the Auctioneer will take precedence over any previous material or oral statements. Bidding increments are at the sole discretion of the Auctioneer. No absentee or phone bids will be accepted at the auction without prior approval of the Auctioneer. All decisions of the Auctioneer are final.