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FRANKLIN COUNTY: 432 ACRES M/L



TRACT 1:  $7,100/ACRE

TRACT 2:  $9,200/ACRE

TRACT 3: $10,700/ACRE


FRIDAY, DECEMBER 22, 2023 at 10:00 AM

FRANKLIN COUNTY CONVENTION CENTER

1008 CENTRAL AVE W

HAMPTON, IOWA

**Auction will start with Tract #3 and

go in reverse order**


LISTING AGENTS:

Kellen Suntken (515-571-8565)

LISTING #23137














DESCRIPTION: 432 acres m/l to be offered in three individual tracts at auction on Friday, December 22nd, 2023, at 10:00 A.M. Tract #1 consists of 213 acres m/l, of which there are 210.63 taxable acres m/l and 172.28 cropland acres m/l. Tract #2 consists of 139 acres m/l with 136.57 taxable acres m/l and 129.38 cropland acres m/l. Tract #3 consists of 80 acres m/l with 79 taxable acres m/l and 80.4 cropland acres m/l. Tract #1 has a CSR2 of 70.3, Tract #2 has a CSR2 of 79.5, and Tract #3 has a CSR2 of 82, with the Franklin County CSR2 being 79.4.

DIRECTIONS: Tract #1-From Hampton, Iowa, go west on Highway 3 for 2 miles to Mallard Ave., then go south on Mallard Ave. for 6 miles to 90th Street. The farm is located in the southwest corner of the intersection. Tract #2-From Hampton, Iowa, go south on Olive Ave 3 miles to 110th Street. The farm is on the south side of the T-intersection. Tract #3-From Hampton, Iowa, go east on Highway 3 to Quail Ave., then go south on Quail Ave. for 2.5 miles. The farm will be on the west side of the road. Please watch for real estate signs.

TRACT #1

LEGAL DESCRIPTION: (213 Acres M/L) Northeast Quarter (NE1/4), Except Parcel 1036200007 and Parcel “A”, and the Northwest Quarter of the Southeast Quarter (NW1/4 SE1/4) and the North Half of the Northeast Quarter of the Southeast Quarter (N1/2 NE1/4 SE1/4), all in Section Thirty-six (36), Township Ninety-one (91) 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: 172.28 acres

Corn Base: 106.70 acres PLC Yield: 154 bu.

Bean Base: 25.50 acres PLC Yield: 44 bu.

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

PROPERTY TAXES: $6,194/year. Property taxes will be prorated to date of closing.

IMPROVEMENTS: This property has an older barn and cattle loading area being sold “AS IS” with other improvements such as field drainage tile and perimeter fence. There is an easement for the two wind turbines that are on the property. The combined annual payment for these in 2024 is approximately $11,300.00. There is also an additional easement for the solar panels near the northeast corner of the property. Contact auctioneer for further details.


TRACT #2

LEGAL DESCRIPTION: (139 Acres M/L) East Half of the Northeast Quarter (E1/2 NE1/4) of Section Twenty (20) and the West Half of the Northwest Quarter (W1/2 NW1/4) of Section Twenty-one (21), Except Parcel “A”, all in Township Ninety-one (91) North, Range Twenty (20), West of the 5th P.M., Franklin County, Iowa. Please refer to the abstract for exact legal description.

FARM PROGRAM INFORMATION:

Cropland: 129.38 acres

Corn Base: 109.10 acres PLC Yield: 158 bu.

Bean Base: 0 acres PLC Yield: 0 bu.

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

PROPERTY TAXES: $4,514/year. Property taxes will be prorated to date of closing.

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

TRACT #3

LEGAL DESCRIPTION: (80 Acres M/L) North Half of the Northeast Quarter (N1/2 NE1/4), all in Section Fifteen (15), Township Ninety-one (91) North, Range Twenty (20), West of the 5th P.M., Franklin County, Iowa. Please refer to the abstract for exact legal description.

FARM PROGRAM INFORMATION:

Cropland: 80.4 acres

Corn Base: 48.00 acres PLC Yield: 186 bu.

Bean Base: 14.50 acres PLC Yield: 49 bu.

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

PROPERTY TAXES: $2,728/year. Property taxes will be prorated to date of closing.

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

TERMS AND CONDITIONS

TRACTS #1, #2, #3 FARM LEASE:

All tracts are leased for 2023, with sellers to retain 100% of the cash rent or crop income for 2023. The lease for 2024 has been terminated.

SALE METHOD: Tracts #1, #2 & #3 will be offered as individual tracts and will not be combined. Tract #1 will be sold as 213 acres m/l, Tract #2 will be sold as 139 acres m/l, with Tract #3 being sold as 80 acres m/l. Auction will start with Tract #3 and go in reverse order.

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 February 15, 2024, subject to the current cash rent lease and current tenant’s rights for the 2023 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 February 15, 2024. 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: Franklin County Land Company Incorporated


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.



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