THURSDAY, APRIL 30th, 2020, at 10:00 AM
HUBBARD GOLF & RECREATION CENTER
21251 HWY D-55
Jeffrey T. Obrecht (515-689-1648)
DESCRIPTION: 142 acres m/l to be offered at auction on Friday, March 27th, 2020, at 10:00 A.M. This property consists of 142 acres m/l, of which there are approximately 140.45 taxable acres and 135.7 cropland acres m/l. This tract has an average CSR2 of 83.1, with the Hardin County average CSR2 being 79.7.
DIRECTIONS: From Garden City, Iowa, go east on County Highway #D-65 to H Avenue, then north on H Avenue 1/4 mile. This property is located on the east side of H Avenue. From Hubbard, Iowa, go south on State Highway #65 to 310th Street, then west on 310th Street 1.5 miles. The subject property is located on the south side of 310th Street. Please watch for real estate signs.
LEGAL DESCRIPTION: (142 Acres M/L) Northeast Quarter of the Northwest Quarter (NE1/4 NW1/4); Southeast Quarter of the Northwest Quarter (SE1/4 NW1/4); Northwest Fractional Quarter of the Southwest Quarter (NW Frl. 1/4 SW1/4); Northeast Quarter of the Southwest Quarter (NE1/4 SW1/4), all in Section Nineteen (19), Township Eighty-six (86) North, Range Twenty-one (21), West of the 5th P.M., Hardin County, Iowa. Please refer to abstract and attached survey for the exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 135.7 acres
Corn Base: 84 acres PLC Yield: 124 bu.
Bean Base: 51.2 acres PLC YIeld: 34 bu.
This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time.
PROPERTY TAXES: $3,976/year. Property taxes will be prorated to date of closing.
IMPROVEMENTS: This property has had some tile installed in the last several years. Contact the auctioneer for tile information. The other improvements are other field drainage tile and perimeter fence.
FARM LEASE: The subject property is presently rented for the 2020 crop year, with current lease to be assigned to buyer at closing. Terms are $225/acre based on FSA acres. The sellers will add $25/acre at closing to supplement the rent for 2020. Contact the auctioneer for details. The lease for 2021 has been terminated.
SALE METHOD: This tract will be offered as an individual tract of 142 acres m/l.
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 May 1, 2020, subject to the current cash rent lease and current tenant’s rights for the 2020 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 May 1, 2020. 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: Jason Hyland
SELLERS: Robert R. & M. Francis Elzig 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 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.