WEDNESDAY, MARCH 7th, 2018, at 10:00 AM




*Parking behind the facility is reserved for emergency personnel.

Customer parking is available on the side street or in front of the facility.


Jeffrey T. Obrecht (515-689-1648)

LISTING #18103

DESCRIPTION: 120 acres m/l to be offered in a single tract of 120 acres at auction on Wednesday, March 7th at 10:00 A.M. This property consists of 120 acres m/l, of which there are 118 taxable acres and 117.4 cropland acres. This property has an average CSR2 of 76, with the county average CSR2 being 65.3.

DIRECTIONS: From the intersection of Interstate #80 and Pottawattamie County Blacktop M-16, go south on M-16 3.5 miles to Sycamore Road, then go west on Sycamore Road ½ mile. Property is located on the south side of Sycamore Road. Please watch for real estate signs.

LEGAL DESCRIPTION: The North One-Half of the Northwest Quarter (N1/2 NW1/4) and the Southeast Quarter of the Northwest Quarter (SE1/4 NW1/4), all in Section Twenty-nine (29), Township Seventy-seven (77) North, Range Forty (40), West of the 5th P.M., Pottawattamie County, Iowa. Please refer to abstract for exact legal description.


Cropland: 117.4 acres

Corn Base: 84.30 acres PLC Yield: 155 bu.

Bean Base: 14.30 acres PLC Yield: 38 bu.

This farm is classified as Highly Erodible Land, with a conservation plan in place. The Wetlands Determination is incomplete at this time.

FARM LEASE: The farm lease for 2018 has not been terminated, with the lease for 2019 to be terminated prior to auction date. Buyer to receive 100% of the 2018 cash rent. Contact auctioneer for terms of the rental agreement for 2018.

LISTING #18103 Terms and Conditions

SALE METHOD: This property will be sold as one tract of 120 acres more or less.

IMPROVEMENTS: The subject property has an older round wire corn crib and a well. Other improvements include field drainage tile terraces, a pond and perimeter fence. All improvements are being sold “AS IS, WHERE IS.”

TAXES: $4002/year or $33.91/taxable acre. Property taxes to 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 April 16, 2018, subject to the current cash rent lease and current tenant’s rights for the 2018 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 April 16, 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: Laura Luetje

SELLERS: Warren J. Petersen Trust

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.