FRANKLIN COUNTY: 156 ACRES M/L
TRACT #1 - $9,150/acre. TRACT #2 - $9,150/acre.
-OFFERED IN MULTIPLE TRACTS-
WEDNESDAY, AUGUST 1st, 2018, at 10:00 AM
ELLSWORTH COMMUNITY COLLEGE EQUINE CENTER
709 ELLSWORTH AVENUE
IOWA FALLS, IOWA
DESCRIPTION: 156 acres m/l to be offered in two tracts of 76 acres m/l & 80 acres m/l at auction on Wednesday, August 1, 2018, at 10:00 A.M. The total property consists of 156 acres m/l, of which there are 151.75 taxable acres and 154.6 cropland acres. This property as a whole has an average CSR2 of 81.1, with the county average CSR2 being 80.7.
DIRECTIONS: From Bradford, Iowa, go east on County Blacktop C-55 to Nuthatch Avenue, then go south on Nuthatch Avenue 1.5 miles. Farm is located on the east side of Nuthatch Avenue, or go north out of Iowa Falls on Highway #57, then straight north on County Blacktop S-41 to 50th Street, then east to Nuthatch Avenue. Farm is located in the NE corner of the intersection of 50th Street and Nuthatch Avenue. Please watch for real estate signs.
TRACT #1-LEGAL DESCRIPTION: (76 acres m/l) The South One-Half of the Southeast Quarter (S1/2 SE1/4), all in Section Seventeen (17), Township Ninety (90) North, Range Twenty (20), West of the 5th P.M., Franklin County, Iowa, Except Parcel #1517400006. Please refer to abstract for exact legal description.
TRACT #1-FARM PROGRAM INFORMATION:
Cropland: 73 acres (Est)
Corn Base: 47 acres (Est) PLC Yield: 173 bu.
Bean Base: 26 acres (Est) PLC Yield: 48 bu.
This farm is classified as Non-Highly Erodible Land with no Wetlands Determination complete at this time. The FSA office will be responsible for splitting the acres and bases on this parcel, if it sells separately, as the above numbers are estimates.
PROPERTY TAXES: $2070/year. Property taxes will be prorated to date of closing.
TRACT #2-LEGAL DESCRIPTION: (80 acres m/l) The North One-Half of the Southeast Quarter (N1/2 SE1/4), all in Section Seventeen (17), Township Ninety (90) North, Range Twenty (20), West of the 5th P.M., Franklin County, Iowa. Please refer to abstract for exact legal description.
TRACT #2-FARM PROGRAM INFORMATION:
Cropland: 79 acres (Est)
Corn Base: 50 acres (Est) PLC Yield: 173 bu.
Bean Base: 29 acres (Est) PLC Yield: 48 bu.
This farm is classified as Non-Highly Erodible Land with no Wetlands Determination complete at this time. The FSA office will be responsible for splitting the acres and bases on this parcel, if they sell separately, as the above numbers are estimates.
PROPERTY TAXES: $2136/year. Property taxes will be prorated to date of closing.
TRACT #2-WIND TURBINES: This property has 2 working wind turbines that generate payments of $4,000/year each. This payment will increase to $5,000/year each in 2020, with an annual increase of 2.5%/year thereafter. The sellers will retain the turbine payment due 9-18 with the buyer being assigned the turbine payments after that date. Contact auctioneer for a copy of the turbine contract.
TRACTS #1 & #2-FARM LEASE: Sellers are to retain all of the 2018 cash rent. The farm lease for 2019 has been terminated.
LISTING #18115 Terms and Conditions
SALE METHOD: This property will be sold as “Bidder’s Choice.” Top bidder will be allowed to have choice of either Tract #1 or Tract #2 or both parcels for the top bid price.
IMPROVEMENTS: Improvements include field drainage tile and perimeter fence on both Tracts #1 & #2 with the wind turbines located on Tract #2.
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 September 15, 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 September 15, 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: Art Cady
SELLERS: Anita Brass Estate - Tom Brass, Douglas Brass, Brett Brass, Michael Brass, Sandy Sailer
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 potential buyers are urged perform their due diligence on the subject property prior to the auction. All map boundaries are approximate, and photographs used may or may not depict the actual property. Total tract acres, tillable acres, FSA acres, etc. are approximate and may be subject to change. 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.