WEDNESDAY, SEPTEMBER 19th, 2018, at 10:00 AM





Jeffrey T. Obrecht (515-689-1648)

LISTING #18128

DESCRIPTION: 160 acres m/l to be offered in a single tract at auction on Wednesday, September 19th, 2018, at 10:00 A.M. This property consists of 160 acres m/l, of which there are 157.58 taxable acres and 158.41 cropland acres. This property has an average CSR2 of 71, with the county average CSR2 being 80.7.

DIRECTIONS: From Popejoy, Iowa, go north on county rock road Eagle Avenue 1⁄2 mile or from Dows, Iowa, go south on S-13 and then go east on S-13 to Eagle Avenue, then south one mile on Eagle Avenue. Property is located on the west side of Eagle Avenue. Please watch for real estate signs.

LEGAL DESCRIPTION: The Northeast Quarter (NE1/4), all in Section Fifteen (15), Township Ninety (90) North, Range Twenty-two (22), West of the 5th P.M., Franklin County, Iowa. Please refer to abstract for exact legal description.


Cropland: 158.41 acres Corn Base: 77 acres PLC Yield: 154 bu.

Bean Base: 76.9 acres PLC Yield: 43 bu.

This farm is classified as Non-Highly Erodible Land. This farm does not have a Wetlands Determination completed at this time.

FARM LEASE: Sellers to retain 100% of the 2018 cash rent. The farm lease for 2019 will be terminated prior to closing.


SALE METHOD: This property will be sold as one tract of 160 acres m/l.

IMPROVEMENTS: Improvements include extensive field drainage tile installed in 2015.

TAXES: $3684/year or $23.37/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 November 1, 2018, subject to the current cash rent lease and current tenanat‘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 con- tract 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 November 1, 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 pro- vide 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: John Coonley

SELLERS: Jacquelyn Lincoln, Karen Steele-Hart, Cynthia Hayes, Rebecca Roberts, & John Steele

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.