FRANKLIN COUNTY: 110 ACRES M/L
TRACT #1: $15,000/ACRE
TRACT #2: $14,200/ACRE
FRIDAY, NOVEMBER 11, 2022 at 10:00 AM
RIDGE STONE GOLF CLUB
7 BRICKYARD ROAD
SHEFFIELD, IOWA
LISTING AGENT:
LISTING #22136
DESCRIPTION: 110 acres m/l to be offered in two individual tracts at auction on Friday, November 11th, 2022, at 10:00 A.M. Tract #1 consists of 37 acres m/l, of which there are 36.7 taxable acres m/l and 36.7 cropland acres m/l. Tract #2 consists of 73 acres m/l, of which there are 72.88 taxable acres m/l and 72.07 cropland acres m/l. Tract #1 has an average CSR2 of 88.1, and Tract #2 has an average CSR2 of 91.1, with the county average CSR2 being 80.7.
DIRECTIONS: Tract #1-From Sheffield, Iowa, go west on County Blacktop C-13 to county rock road Jonquil Avenue, then north on Jonquil Avenue 3/4 mile. Tract #1 is located on the east side of Jonquil Avenue. Tract #2-From Sheffield, Iowa, go west on County Blacktop C-13 to County Blacktop S-34, then continue another 1/2 mile on C-13. Tract #2 is located on the north side of C-13. Please watch for real estate signs.
TRACT #1
LEGAL DESCRIPTION: (37 Acres M/L) Parcel #5 (Survey # 00-0982) in the North One-Half of the Northwest Fractional Quarter (N1/2 NW Frl.1/4) of Section Three (3), Township Ninety-three (93) North, Range Twenty-one (21), West of the 5th P.M., Franklin County, Iowa. Please refer to abstract for exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 36.7 acres
Corn Base: 24.8 acres PLC Yield: 174 bu.
Bean Base: 11.7 acres PLC Yield: 44 bu.
This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time.
PROPERTY TAXES: $1,248/year. Property taxes will be prorated to date of closing.
TRACTS #1 & #2-FARM LEASE: Sellers are to retain all of the 2022 cash rent or crop income due for 2022. The lease for 2023 has been terminated.
TRACTS #1 & #2-IMPROVEMENTS: These properties are unimproved except for field drainage tile and perimeter fence.
Please note that both tracts have a Memorandum of Wind Energy Ground Lease. Please contact the auctioneer for details.
TRACT #2
LEGAL DESCRIPTION: (73 Acres M/L) Parcel D (Survey #2009-1272) in the East One-Half of Section Three (3) and in the West One-Half of Section Two (2), Township Ninety-three (93) North, Range Twenty-one (21), West of the 5th P.M., Franklin County, Iowa. Please refer to the abstract for exact legal description
FARM PROGRAM INFORMATION:
Cropland: 72.07 acres
Corn Base: 52.2 acres PLC Yield: 174 bu.
Bean Base: 18.83 acres PLC Yield: 49 bu.
This tract contains 2.04 acres of CRP bid in at $227/acre unitl 9-2029.
This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time.
PROPERTY TAXES: $2,576/year. Property taxes will be prorated to date of closing.
TERMS AND CONDITIONS
SALE METHOD: Tracts #1 & #2 will be offered as individual tracts and will not be combined. Tract #1 will be sold as 37 acres m/l and Tract #2 will be sold as 73 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 December 30, 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 December 30, 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 cannot 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: Art Cady
SELLERS: Leo B. Renberg Estate
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 on 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.
