PRIME DEVELOPMENT LAND
WEDNESDAY, DECEMBER 5th, 2018, at 10:00 AM
HUXLEY CITY HALL COMPLEX SAFE ROOM
515 NORTH MAIN AVENUE
LISTING AGENT: Jeffrey T. Obrecht (515-689-1648)
DESCRIPTION: 40 acres m/l to be offered at auction on Wednesday, December 5th, 2018, at 10:00 A.M. The property consists of 40 acres m/l, of which there are 40 taxable acres and 36.05 cropland acres. This property as a whole has an average CSR2 of 79.3, with the county average CSR2 being 81.1.
This property is located just outside the northwest boundary of the city limits of Huxley, Iowa, a fast growing community located just south of Ames, Iowa, and north of Ankeny, Iowa. A newer housing developement is located adjacent to the SE corner of this property, with access to this property via a recorded easement located just off of 306th Lane in accessing NE corner of the subject property. Presently, this property, according to Story County zoning, can have one dwelling. With proper zoning, and possible annexation to the City of Huxley, this property can be a premium addition to the City of Huxley, Iowa.
DIRECTIONS: From Huxley, Iowa, go north on State Highway #69 to 306th Lane, then go west on 306th Lane 1/4 mile. Subject property is located via an easement immediately to the left or south. Farm is located 290’ south of the intersection of 306th Lane and the easement. Please watch for real estate signs.
LEGAL DESCRIPTION: (40 acres m/l) The Southwest Quarter of the Southwest Quarter (SW1/4 SW1/4), all in Section Fourteen (14), Township Eighty-two (82) North, Range Twenty-four (24), West of the 5th P.M., Story County, Iowa including an easement recorded in Book 2016-00012888, recorded in the Story County Recorder office on December 27, 2016. Please refer to abstract for exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 36.05 acres
Corn Base: 23.23 acres PLC Yield: 144 bu.
Bean Base: 9.9 acres PLC Yield: 48 bu.
This farm is classified as Non-Highly Erodible Land with no Wetlands Determination complete at this time. There were 2.6 acres in CRP which expired in September 2018.
FARM LEASE: Sellers to retain 100% of the 2018 cash rent. The farm is leased for 2019. Contact auctioneer for details of lease. The lease for 2020 will be terminated.
PROPERTY TAXES: $1164/year or $29.10/taxable acre. Property taxes will be prorated to date of closing.
LISTING #18135 TERMS AND CONDITIONS
SALE METHOD: This property will be sold as one tract of 40 acres m/l.
IMPROVEMENTS: Improvements include field drainage tile and perimeter fence.
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 December 31, 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 December 31, 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.
ATTORNEYS: Jim Gocke & Elissa Hodges
SELLERS: Penn & Laurie Hill, Paula & Joseph Hutton
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.