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HARDIN & MARSHALL COUNTIES: 256 ACRES M/L



TRACT #1: $15,100/ACRE

TRACT #2: $14,400/ACRE

TRACT #3: $15,800/ACRE


FRIDAY, SEPTEMBER 8, 2023 at 10:00 AM

SOUTH HARDIN RECREATION AREA

601 CHAPIN STREET

UNION, IOWA

LISTING AGENT:

LISTING #23124













DESCRIPTION: 256 acres m/l to be offered in three individual tracts at auction on Friday, September 8th, 2023, at 10:00 A.M. Tract #1 consists of 96 acres m/l, of which there are 95.05 taxable acres m/l and 93.36 cropland acres m/l with a CSR2 of 90.4. Tract #2 consists of 80 acres m/l, of which there are 78 taxable acres m/l and 77.64 cropland acres m/l with a CSR2 of 77.2. Tract #3 consists of 80 acres m/l, of which there are 79 taxable acres m/l and 78.39 cropland acres m/l with a CSR2 of 85.3. The average CSR2 for Hardin County is 79.7 and the average CSR2 of Marshall County is 74.7.

DIRECTIONS: Tract #1-From Union, Iowa, go south on County Blacktop S-62 to 335th Street. Tract #1 is located in the SE corner of the intersection of S-62 and 335th Street. Tract #2-From Bangor, Iowa, go west on County Blacktop E-18 to Hart Avenue, then north on Hart Avenue to 120th Street, then west on 120th Street to Glick Avenue, then north on Glick Avenue 1/2 mile. Tract #2 is located on the east side of Glick Avenue. Tract #3-From Bangor, Iowa, go west on County Blacktop E-18 to Gerhart Avenue, then south on Gerhart Avenue 1/2 mile. Tract #3 is located on the west side of Gerhart Avenue. Please watch for real estate signs.

TRACT #1

LEGAL DESCRIPTION: (96 Acres M/L) Northwest Quarter of the Southeast Quarter (NW1/4 SE1/4); Northeast Quarter of the Southeast Quarter (NE1/4 SE1/4); North One-Quarter of the South One-Half of the Southeast Quarter (N1/4 S1/2 SE1/4), all in Section Thirty-three (33), Township Eighty-six (86) North, Range Nineteen (19), West of the 5th P.M., Hardin County, Iowa. Please refer to the abstract for the exact legal description.

FARM PROGRAM INFORMATION:

Cropland: 93.36 acres

Corn Base: 93.36 acres PLC Yield: 175 bu.

Bean Base: None PLC Yield: None

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

PROPERTY TAXES: $3,254/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: (80 Acres M/L) Southwest Quarter of the Northeast Quarter (SW1/4 NE1/4); Northwest Quarter of the Southeast Quarter (NW1/4 SE1/4), all in Section Seven (7), Township Eighty-five (85) North, Range Nineteen (19), West of the 5th P.M., Marshall County, Iowa. Please refer to the abstract for the exact legal description.

FARM PROGRAM INFORMATION:

Cropland: 77.64 acres

Corn Base: 33.04 acres PLC Yield: 175 bu.

Bean Base: 33.7 acres PLC Yield: 47 bu.

This farm is classified as Highly Erodible Land. There are approximately 1.1 acres of Wetlands in the waterway in the SW corner of this property.

PROPERTY TAXES: $2,630/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 One-Half of the Southeast Quarter (N1/2 SE1/4), all in Section Twenty-four (24), Township Eighty-five (85) North, Range Twenty (20), West of the 5th P.M., Marshall County, Iowa. Please refer to the abstract for the exact legal description.

FARM PROGRAM INFORMATION:

Cropland: 78.39 acres

Corn Base: 58.8 acres PLC Yield: 167 bu.

Bean Base: 19.59 acres PLC Yield: 53 bu.

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

PROPERTY TAXES: $3,098/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, & #3-FARM LEASE: Sellers are to retain all of the 2023 cash rent due for 2023. Contact the auctioneer for details. The lease for 2024 has been terminated.


TERMS AND CONDITIONS


SALE METHOD: Tracts #1, #2, & #3 will be offered as individual tracts and will not be combined. Tract #1 will be sold as 96 acres m/l, Tract #2 will be sold as 80 acres m/l and Tract #3 will be sold as 80 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 November 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 November 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.

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: Pat Craig

SELLERS: Lois Rowen Estate

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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