HARDIN COUNTY: 223 ACRES M/L
FRIDAY, JULY 7, 2023 at 10:00 AM
ECC AGRICULTURAL CENTER
705 ELLSWORTH AVENUE
IOWA FALLS, IOWA
LISTING AGENTS:
Joe Sandve (641-752-4505)
LISTING #23111
DESCRIPTION: 223 acres m/l to be offered in two individual tracts at auction on Friday, July 7th, 2023, at 10:00 A.M. Tract #1 consists of 114 acres m/l, of which there are 113.11 taxable acres m/l and 110.36 cropland acres m/l. Tract #2 consists of 109 acres m/l, of which there are 108.33 taxable acres m/l and 102.69 cropland acres m/l. Tract #1 has an average CSR2 of 80.8, and Tract #2 has an average CSR2 of 84.4, with the county average CSR2 being 79.7.
DIRECTIONS: Tract #1 & #2: From Steamboat Rock, Iowa, go west on County Blacktop D-35 to U Avenue, then go south on U Avenue to the intersection of U Avenue and T Avenue. From that intersection Tracts #1 & #2 are located straight ahead. Please watch for real estate signs.
TRACT #1
LEGAL DESCRIPTION: (114 Acres M/L) Northwest Quarter of the Northwest Fractional Quarter (NW1/4 of NW Frl.1/4) of Section Thirty-one (31), Township Eighty-eight (88) North, Range Nineteen (19), West of the 5th P.M., Hardin County, Iowa; North One-Half of the Northeast Quarter (N1/2 NE1/4) in Section Thirty-six (36), Township Eighty-eight (88) North, Range Twenty (20), West of the 5th P.M., Hardin County, Iowa. Please refer to the abstract for the exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 110.36 acres
Corn Base: 78.2 acres PLC Yield: 174 bu.
Bean Base: 2.3 acres PLC Yield: 36 bu.
This property does have 27.46 acres of CRP based upon two CRP contracts. One contract is for 20.01 acres at $300/acre until 2027. The second contract is for 7.45 acres at $300/acre until 2027.
This farm is classified as Highly Erodible Land. No Wetlands Determination is complete at this time.
PROPERTY TAXES: $3,576/year. Property taxes will be prorated to date of closing.
IMPROVEMENTS: This property is unimproved except for field drainage tile and perimeter fence.
TRACT #2
LEGAL DESCRIPTION: (109 Acres M/L) Northwest Quarter of the Southwest Fractional Quarter (NW1/4 of SW Frl.1/4) of Section Thirty-one (31), Township Eighty-eight (88) North, Range Nineteen (19), West of the 5th P.M., Hardin County, Iowa, Except Parcel 881931100004; South One-Half of the Northeast Quarter (S1/2 NE1/4) in Section Thirty-six (36), Township Eighty-eight (88) North, Range Twenty (20), West of the 5th P.M., Hardin County, Iowa. Please refer to the abstract for the exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 102.69 acres
Corn Base: 93.79 acres PLC Yield: 174 bu.
Bean Base: NA acres PLC Yield: NA
This property does have 7.80 acre of CRP at $300/acre until 9-30-27.
This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time.
PROPERTY TAXES: $3,548/year. Property taxes will be prorated to date of closing.
IMPROVEMENTS: This property is unimproved except for field drainage tile and perimeter fence.
TRACTS #1 & #2 FARM LEASE: Sellers are to retain all of the 2023 cash rent or crop income due for 2023. The lease for 2024 has been terminated.
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 114 acres m/l and Tract #2 will be sold as 109 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 October 1, 2023, 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 October 1, 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. A survey will be completed only if Tract #1 is purchased by a different buyer that Tract #2.
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: Richard Bordwell
SELLERS: Frederick L. Schuster Revocable Trust and JSK Hardin County Farm LLC
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.