CERRO GORDO COUNTY: 170 ACRES M/L
THURSDAY, SEPTEMBER 8, 2022 at 10:00 AM
PLEASANT VALLEY GOLF CLUB
405 1ST STREET N
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Jeffrey T. Obrecht (515-689-1648)
DESCRIPTION: 170 acres m/l to be offered at auction on Thursday, September 8th, 2022, at 10:00 A.M. This property consists of 170 acres m/l, of which there are approximately 162.74 taxable acres and 162.55 cropland acres m/l. This tract has an average CSR2 of 79.2, with the Cerro Gordo County average CSR2 being 75.9.
DIRECTIONS: From Clear Lake, Iowa, go south on Grouse Avenue or County Blacktop S-25 to 220th Street. The subject property is located on the southwest corner of the intersection of S-25 & 220th Street. From Thornton, go north on County Blacktop S-25 to 220th Street. The subject is located in the SW corner of the intersection of S-25 & 220th Street. Please watch for real estate signs.
LEGAL DESCRIPTION: (170 Acres M/L) Northeast Fractional Quarter (NE Frl.1/4) of Section One (1), Township Ninety-five (95) North, Range Twenty-two (22), West of the 5th P.M., Cerro Gordo County, Iowa, Except the North 285’ of the East 306.68’ in the NE1/4 NE1/4 and Except the North 618.83’ of the West 519.62’ of the NW1/4 NE1/4. Please refer to abstract for the exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 162.55 acres
Corn Base: 110.6 acres PLC Yield: 154 bu.
Bean Base: 47.35 acres PLC Yield: 43 bu.
This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time. Of the 162.55 acres m/l, there are 5.14 acres in the SW corner bid into the Conservation Reserve Program until 2032 at $300/acre.
FARM LEASE: The subject property is rented for the 2022 crop year. Sellers to retain the cash rent or crop income from the subject property for 2022. The seller will receive the CRP payment in full on October 1, 2022, with the buyer receiving the full CRP payment in October 2023. The lease for 2023 has been terminated.
IMPROVEMENTS: Improvements are field drainage tile and perimeter fence.
TERMS AND CONDITIONS
SALE METHOD: This tract will be sold as an individual tract of 170 acres m/l.
TAXES: $4,238/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 October 14, 2022, subject to the current cash rent lease and current tenant’s rights for the 2022 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 October 14, 2022. 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.
ONLINE BIDDING: Please visit our website to register for online bidding. Mid Iowa Real Estate, Auctions, & Appraisals can not be held liable for any technical difficulties relating to the server, software, internet, or other online auction-related technologies. Bidders shall have no claims against the auction company or Sellers if their bids are not accepted.
ATTORNEY: Gary Berkland
SELLERS: Foster & Evelyn Barkema Charitable 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 to 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.