WEDNESDAY, DECEMBER 20th, 2017, at 10:00 AM


902 8th AVE.



Jeffrey T. Obrecht (515-689-1648)

LISTING #17128

DESCRIPTION: 154 acres m/l to be offered at auction on Wednesday, December 20th, at 10:00 A.M. This property consists of 154 acres m/l, of which there are 151 taxable acres and 150.42 cropland acres. This property has an average CSR2 of 89.4, with the county average CSR2 being 80.77.

DIRECTIONS: From Ackley, Iowa, go south on S-56 approximately to Cleaves, Iowa, or to 160th Street, then go east on 160th Street approximately 1.5 miles. Property is located on the north side of 160th Street. Please watch for real estate signs.

LEGAL DESCRIPTION: The Southeast Quarter (SE1/4) of Section Thirty-one (31), Township Eighty-nine (89) North, Range Eighteen (18), West of the 5th P.M., Grundy County, Iowa, except Parcel 485-B in the SE1/4 SE1/4 and except a 2.96 acre parcel located in the SW1/4 SE1/4. Please refer to abstract for exact legal description.


Cropland: 150.42 acres

Corn Base: 74.74 acres PLC Yield: 166 bu.

Bean Base: 75.16 acres PLC Yield: 47 bu.

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

FARM LEASE: Seller is to retain 100% of the 2017 cash rent. The farm lease for 2018 has been terminated. Contact auctioneer for details of lease.

MANURE EASEMENT: There is a manure easement on this property. Contact auctioneer for details.

LISTING #17128 Terms and Conditions

SALE METHOD: This property will be sold as one tract of 154 acres m/l.

IMPROVEMENTS: The subject property is unimproved except for field drainage tile and perimeter fence.

TAXES: $3650/year or $25/taxable acre (Est.)

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 January 26, 2018, subject to the current cash rent lease and current tenant’s rights for the 2017 crop year.

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 January 26, 2018. 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: Dale Hansmann

SELLERS: Mary Ann Cobie Estate

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.