WEDNESDAY, SEPTEMBER 30th, 2020, at 10:00 AM
RIDGE STONE GOLF COURSE
7 BRICKYARD ROAD
*Due to the ongoing COVID-19 pandemic, face masks are strongly recommended and social distancing should be maintained.
Jeffrey T. Obrecht (515-689-1648)
DESCRIPTION: 115 acres m/l to be offered at auction on Wednesday, September 30th, 2020, at 10:00 A.M. This property consists of 115 acres m/l, of which there are approximately 112.8 taxable acres and 109.74 cropland acres m/l which includes the waterway. This tract has an average CSR2 of 85, with the Franklin County average CSR2 being 80.7.
DIRECTIONS: From Sheffield, Iowa, go west on County Highway C-13 to Jonquil Avenue, then north on Jonquil Avenue for 2/3 mile. This property is located on the west side of Jonquil Avenue. From Thornton, Iowa, go south on County Highway S-25 to County Blacktop C-13, then east to Jonquil Avenue, then north on Jonquil Avenue 2/3 mile. The subject property is located on the west side of Jonquil Avenue. Please watch for real estate signs.
LEGAL DESCRIPTION: (115 Acres M/L) West 2/3 of the Northwest Quarter of the Northeast Quarter (W2/3 NW1/4 NE1/4), Except a tract beginning at the N1/4 corner, then East 624.7’, South 350.1’, West 624.7’, then North 350.10 to the point of beginning; Northeast Quarter of the Northeast Quarter (NE1/4 NE1/4); East 1/3 of the Northwest Quarter of the Northeast Quarter (E1/3 NW1/4 NE1/4), all in Section Four (4), Township Ninety-three (93) North, Range Twenty-one (21), West of the 5th P.M., Franklin County, Iowa. Please refer to abstract for the exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 107.8* acres
Corn Base: 72.7 acres PLC Yield: 162 bu.
Bean Base: 35.1 acres PLC YIeld: 47 bu.
*There is another 1.94 acres in a waterway for a total of 109.74 acres.
This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time.
FARM LEASE: Seller is to retain 100% of the 2020 cash rent. The subject farm is open for 2021 as the lease with the current operator has been terminated for 2021.
IMPROVEMENTS: The subject property is presently unimproved except for field drainage tile and perimeter fence.
LISTING #20128 - TERMS AND CONDITIONS
SALE METHOD: This tract will be offered as an individual tract of 115 acres m/l.
TAXES: $3,542/year. 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 4, 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 November 4, 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: Gerald Stambaugh
SELLERS: Curt A. and Kristy Holt
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.