FRANKLIN COUNTY: 116 ACRES M/L
,TRACT 1: $11,800/ACRE
TRACT 2: $6,000/ACRE
FRIDAY, APRIL 8, 2022 at 10:00 AM
DOWS COMMUNITY CENTER
119 E ELLSWORTH STREET
DESCRIPTION: 116 acres m/l to be offered in two individual tracts at auction on Friday, April 8th, 2022, at 10:00 A.M. Tract #1 consists of 80 acres m/l, of which there are 79 taxable acres m/l and 77.18 cropland acres m/l. Tract #2 consists of 36 acres m/l with 35.79 taxable acres m/l and 34.8 cropland acres m/l. Tract #1 has an average CSR2 of 81.4, and Tract #2 has an average CSR2 of 48.5, with the county average CSR2 being 80.7.
Tract #1-From Coulter, Iowa, go south on County Blacktop S-25 to county rock road 120th Street, then west on 120th Street approximately 1.25 miles. Tract #1 is located on the north side of 120th Street. From Dows, Iowa, go east on County Blacktop C-47 to Finch Avenue, then north on Finch Avenue to 120th Street, then east on 120th Street 1/2 mile. Tract #1 is located on the north side of 120th Street.
Tract #2-From Dows, Iowa, go east on County Blacktop C-47 to the exit ramp on the intersection of I-35 and C-47. Tract #2 is located in the southeast corner of that intersection or just east of the exit ramp from I-35 on the south side of C-47. Please watch for real estate signs.
LEGAL DESCRIPTION: (80 Acres M/L) West One-Half of the Southeast Quarter (W1/2 SE1/4) of Section Twelve (12), Township Ninety-one (91) North, Range Twenty-two (22), West of the 5th P.M., Franklin County, Iowa. Please refer to abstract for exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 77.18 acres (Est)
Corn Base: 49 acres PLC Yield: 160 bu.
Of the 77.18 crop acres m/l on this parcel, there are 28.38 acres of CRP bid in at $364.34/acre or $9,829/year until 2030. These CRP payments will be prorated to the date of the closing.
This farm is classified as Non-Highly Erodible Land. This tract may contain a Wetland or Farmed Wetland.
PROPERTY TAXES: $2,644/year. Property taxes will be prorated to date of closing.
*Please note that the 72 acres m/l adjacent to this 80 acre m/l tract will be sold at auction at 12:00PM (Noon) on the same day as this auction and at the same location.
LEGAL DESCRIPTION: (36 Acres M/L) Northeast Quarter of the Northwest Quarter (NE1/4 NW1/4), east of I-35 and Except Parcel #092810006: Northwest Quarter of the Northwest Quarter (NW1/4 NW1/4), west of I-35, all in Section Twenty-eight (28), Township Ninety-one (91) North, Range Twenty-two (22), West of the 5th P.M, Franklin County, Iowa. Please refer to the abstract for exact legal description
FARM PROGRAM INFORMATION:
Cropland: 34.8 acres (Est)
Corn Base: 19.1 acres PLC Yield: 140 bu.
Bean Base: 15.7 acres PLC Yield: 44 bu.
This tract has 34.8 acres in the CRP program and is bid in at $266.13/acre or $9,261/year until 2030.
This farm is classified as Non-Highly Erodible Land. This tract contains a Wetland or Farmed Wetland.
PROPERTY TAXES: $700/year. Property taxes will be prorated to date of closing.
TRACTS #1 & #2-FARM LEASE: Tract #1-The tillable land on this tract is rented for the 2022 crop year, with the buyer receiving 100% of the rent on this tract for 2022. The new buyer will receive a prorated share of the CRP contract payment due October 2022 . Contact the auctioneer for details. The lease for 2023 has been terminated. Tract #2-This tract is 100% in the CRP program, with the buyer receiving a prorated share of the CRP payment due in October 2022.
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 80 acres m/l and Tract #2 will be sold as 36 acres m/l.
IMPROVEMENTS: Both tracts are unimproved except for field drainage tile and perimeter fence.
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 20, 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 May 20, 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.
ATTORNEYS: Doug Krull & Brian Miller
SELLERS: Penelope Worden-Lynn Welch-Kathy Bailey
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.