FRANKLIN COUNTY: 80 ACRES M/L
FRIDAY, DECEMBER 9, 2022 at 3:00 PM
ECC AG & RENEWABLE ENERGY CENTER
705 ELLSWORTH AVENUE
IOWA FALLS, IOWA
CLICK HERE TO BID ONLINE
Jeffrey T. Obrecht (515-689-1648)
Kellen Suntken (515-571-8565)
DESCRIPTION: 80 acres m/l to be offered at auction on Friday, December 9th, 2022, at 3:00 P.M. This property consists of 80 acres m/l, of which there are approximately 79 taxable acres and 78.92 cropland acres m/l. This tract has an average CSR2 of 87.2, with the Franklin County average CSR2 being 80.7.
DIRECTIONS: From Hampton, Iowa, go south on State Highway #65 to 8th Street, a county rock road, then west on 85th Street 1 mile to Olive Avenue, then south on Olive Avenue 1/4 mile. The subject property is located on the east side of Olive Avenue. From Iowa Falls, Iowa, go north on State Highway #65 to the junction of #65 & #57, then north on #65 to 85th Street, then west on 85th Street to Olive Avenue, then south 1/4 mile on Olive Avenue. The subject is located on the east side of Olive Avenue. Please watch for real estate signs.
LEGAL DESCRIPTION: (80 Acres M/L) South One-Half of the Southwest Quarter (S1/2 SW1/4), all in Section Thirty-three (33), Township Ninety-one (91) North, Range Twenty (20), West of the 5th P.M., Franklin County, Iowa. Please refer to abstract for the exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 78.92 acres
Corn Base: 53.9 acres PLC Yield: 167 bu.
Bean Base: 24.03 acres PLC Yield: 51 bu.
Of this 78.92 acres, there are 99/100 acre of CRP bid in at $300/acre until 2032.
This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time.
FARM LEASE: The subject property is rented for the 2022 crop year. The lease for 2023 has been terminated. The seller will retain 100% of the crop income or cash rent on the subject property for 2022.
IMPROVEMENTS: This property does have a wind turbine that generates in the area of $5,500/year in payments to the property owner. This lease will be assigned to the buyer at closing. Seller will retain the payment received in August 2022 with the buyer to receive 100% of the payment due in August 2023. Other improvements are field drainage tile and perimeter fence.
TERMS AND CONDITIONS
SALE METHOD: This tract will be offered as an individual tract of 80 acres m/l.
TAXES: $2,930/yr. 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 January 20, 2023, 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 January 20, 2023. 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: Stacey Harding
SELLERS: Donna J. Toomsen
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.