FRANKLIN COUNTY: 194 ACRES M/L


WEDNESDAY, AUGUST 18th, 2021, at 10:00 AM

ACKLEY RECREATION CLUB

902 8TH AVENUE

ACKLEY, IOWA

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LISTING AGENT:

Jeffrey T. Obrecht (515-689-1648)

LISTING #21120

BROCHURE


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DESCRIPTION: 194 acres m/l to be offered at auction on Wednesday, August 18th, 2021, at 10:00 A.M. This property consists of 194 acres m/l, of which there are approximately 190.82 taxable acres and 175.32 cropland acres m/l. This tract has an average CSR2 of 78, with the Franklin County average CSR2 being 80.7. Please note that the CSR2 rating on the 113 acres m/l of tillable land is 88.

DIRECTIONS: From Geneva, Iowa, go north on County Highway S-56 to 115th Street, then east on 115th Street to Franklin Avenue, then north on Franklin Avenue to 130th Street, then west on 130th Street 1/2 mile. This property is located on the south side of 130th Street. From Hansell, Iowa, go east on State Highway #3 to Franklin Avenue, then south on Franklin Avenue to 130th Street, then west on 130th Street 1/2 mile. The subject property is located on the south side of 130th Street. Please watch for real estate signs.

LEGAL DESCRIPTION: (194 Acres M/L) Northwest Quarter (NW1/4), Except Parcel #1212100005; Northeast Quarter of the Southwest Quarter (NE1/4 SW1/4), all in Section Twelve (12), Township Ninety-one (91) North, Range Nineteen (19), West of the 5th P.M., Franklin County, Iowa. Please refer to abstract for the exact legal description.

FARM PROGRAM INFORMATION:

Cropland: 175.32 acres*

Corn Base: 113.66 acres PLC Yield: 156 bu.

Bean Base: None

*Of this 175.32 cropland acres m/l there are approximately 61.66 acres of CRP. This CRP is in two contracts, as follows: #1-47.58 acres of CRP paying $375.42/acre or $17,862/year until 2025. #2-14.08 acres of CRP paying $175.10/acre or $2,465/year until 2035.

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

FARM LEASE: The subject property is presently rented for the 2021 crop year, with current owners to retain 100% of the 2021 crop income or cash rent. The CRP payment payable in October 2021 will be 100% retained by the current owners. The CRP payment due in 2022 will be 100% the new owners. The lease for 2021 has been terminated.

LISTING #21120 TERMS AND CONDITIONS

SALE METHOD: This tract will be offered as an individual tract of 194 acres m/l.

TAXES: $5,084/year. Property taxes will be prorated to date of closing.

IMPROVEMENTS: The subject property has improvements such as 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 September 30, 2021, subject to the current cash rent lease and current tenant’s rights for the 2021 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 September 30, 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.

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: John Duffy

SELLERS: Jean Connelly Estate, Lia Wullbrandt, Alex Wullbrandt, James & Mary Connelly, and Pamela & Bill Moore

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.