CERRO GORDO COUNTY: 388 ACRES M/L


FRIDAY, DECEMBER 11th, 2020, at 10:00 AM

GREENE COMMUNITY CENTER

202 W SOUTH ST.

GREENE, IOWA

*Face masks are required (per Governor's proclamation)

and social distancing should be maintained.

LISTING AGENT:

Jeffrey T. Obrecht (515-689-1648)

LISTING #20134

BROCHURE

AERIAL MAP - TRACT #1

AERIAL MAP - TRACT #2

AERIAL MAP - TRACT #3

AERIAL MAP - TRACT #4

AERIAL MAP - TRACT #5

PLAT MAP

SOILS MAP - TRACT #1

SOILS MAP - TRACT #2

SOILS MAP - TRACT #3

SOILS MAP - TRACT #4

SOILS MAP - TRACT #5

DESCRIPTION: 388 acres m/l to be offered in five individual tracts at auction on Friday, December 11th, 2020, at 10:00 A.M. Tract sizes will be as follows: Tract #1 is 80 acres m/l, Tract #2 is 130 acres m/l, Tract #3 is 106 acres m/l, Tract #4 is 51 acres m/l, and Tract #5 is 21 acres m/l. Tracts have average CSR2 ratings from 73.5 to 87.5, with the county average CSR2 being 75.9. There will be no combinations offered.

DIRECTIONS: All five tracts are located on the south edge of Dougherty, Iowa, with access to county blacktops and county rock roads. Please watch for real estate signs.

TRACT #1-80 ACRES M/L

LEGAL DESCRIPTION: (80 Acres M/L) The East One-Half of the Southeast Quarter (E1/2 SE1/4) of Section Thirty-five (35), Township Ninety-four (94) North, Range Nineteen (19), West of the 5th P.M., Cerro Gordo County, Iowa. Please refer to abstract for exact legal description.

FARM PROGRAM INFORMATION:

Cropland: 75.28 acres

Corn Base: 48.58 acres PLC Yield: 152 bu.

Bean Base: 16.2 acres PLC Yield: 48 bu.

This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time.

PROPERTY TAXES: $2,080/year. Property taxes will be prorated to date of closing.

IMPROVEMENTS: This property is unimproved except for field drainage tile and perimeter fence.

FARM LEASE: Sellers are to retain all of the 2020 cash rent due for 2020. The lease for 2021 has been terminated.

TRACT #2-130 ACRES M/L

LEGAL DESCRIPTION: (130 Acres M/L) The Southwest Quarter of the Southwest Quarter (SW1/4 SW1/4); Southeast Quarter of the Southwest Quarter (SE1/4 SW1/4); Part of the Northwest Quarter of the Southwest Quarter (NW1/4 SW1/4) (Parcel #163630000600); Part of the Northeast Quarter of the Southwest Quarter (NE1/4 SW1/4) (Parcel # 163630000800); The West 5 acres of the Southwest Quarter of the Southeast Quarter (W 5A SW1/4 SE1/4); West 1 acre of Northwest Quarter of the Southeast Quarter (W 1A NW1/4 SE1/4) (Parcel #163640000800) of Section Thirty-six (36), Township Ninety-four (94) North, Range Nineteen (19), West of the 5th P.M., Cerro Gordo County, Iowa. Please refer to the abstract for exact legal description.

FARM PROGRAM INFORMATION:

Cropland: 121.94 acres (Est)

Corn Base: 78.69 acres PLC Yield: 152 bu.

Bean Base: 26.23 acres PLC Yield: 48 bu.

This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time.

PROPERTY TAXES: $3,200/year (Est). Property taxes will be prorated to date of closing.

IMPROVEMENTS: This property is unimproved except for field drainage tile and perimeter fence.

FARM LEASE: Sellers are to retain all of the 2020 cash rent due for 2020. The lease for 2021 has been terminated.

TRACT #3-106 ACRES M/L

LEGAL DESCRIPTION: (106 Acres M/L) Part of the Northwest Quarter of the Southeast Quarter (NW1/4 SE1/4) (Parcel #163640000800), except the West 1 acre; Southwest Quarter of the Southeast Quarter (SW1/4 SE1/4), Except the West 5 acres; Part of the Southeast Quarter of the Southeast Quarter (SE1/4 SE1/4) (Parcel #163640000900); Northeast Quarter of the Southeast Quarter (NE1/4 SE1/4), Except the RR Right of Way and Except the East 13 1/3 rods of the North 60 Rods of Section Thirty-six (36), Township Ninety-four (94) North, Range Nineteen (19), West of the 5th P.M., Cerro Gordo County, Iowa. Please refer to the abstract for exact legal description.

FARM PROGRAM INFORMATION:

Cropland: 91.32 acres (Est)

Corn Base: 54 acres PLC Yield: 150 bu.

Bean Base: 36 acres. PLC Yield: 42 bu.

This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time. Of the 91.32 acres (Est), there are approximately 2.2 acres enrolled in CRP at $79.20/acre or $176/year until 2031.

PROPERTY TAXES: $2,875/year (Est). Property taxes will be prorated to date of closing.

TRACT #4-51 ACRES M/L

LEGAL DESCRIPTION: (51 Acres M/L) All of the South One-Half of the Northeast Quarter (S1/2 NE1/4) lying East of the RR Right of Way, Except the North 128’ all in Section Thirty-six (36), Township Ninety-four (94) North, Range Nineteen (19), West of the 5th P.M., Cerro Gordo County, Iowa. Please refer to the abstract for exact legal description.

FARM PROGRAM INFORMATION:

Cropland: 48.48 acres

Corn Base: 29 acres PLC Yield: 150 bu.

Bean Base: 19 acres PLC Yield: 42 bu.

This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time.

PROPERTY TAXES: $574/year. Property taxes will be prorated to date of closing.

IMPROVEMENTS: This property is unimproved except for field drainage tile and perimeter fence.

FARM LEASE: Sellers are to retain all of the 2020 cash rent due for 2020. The lease for 2021 has been terminated.

TRACT #5-21 ACRES M/L

LEGAL DESCRIPTION: (21 Acres M/L) Southeast Quarter of the Northwest Quarter (SE1/4 NW1/4) (Parcel # 16361700200) in Section Thirty-six (36), Township Ninety-four (94) North, Range Nineteen (19), West of the 5th P.M., Cerro Gordo County, Iowa. Please refer to the abstract for exact legal description.

FARM PROGRAM INFORMATION:

Cropland: 18.51 acres

Corn Base: 9.16 acres PLC Yield: 150 bu.

Bean Base: 6.77 acres PLC Yield: 43 bu.

This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time.

PROPERTY TAXES: $490/year. Property taxes will be prorated to date of closing.

IMPROVEMENTS: This property is unimproved except for field drainage tile and perimeter fence.

FARM LEASE: Sellers are to retain all of the 2020 cash rent due for 2020. The lease for 2021 has been terminated.

LISTING #20134 TERMS AND CONDITIONS

SALE METHOD: These properties will be sold as five individual tracts and will not be combined. Tract #1 will be sold as 80 acres m/l, Tract #2 will be sold as 130 acres m/l, Tract #3 will be sold as 106 acres m/l, Tract #4 will be sold as 51 acres m/l, and Tract #5 will be sold as 21 acres m/l. If Tract #2 & #3 are purchased by the same buyer, no survey will be made, with the current boundaries used.

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 January 22, 2021, 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 January 22, 2021. 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: John Coonley

SELLER: Gladys Dougherty Charitable Remainder UniTrust

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. Sale is subject to Court Approval.

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.

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