MONONA COUNTY: 480 ACRES M/L
TRACT #1 - $4,800/ACRE
TRACT #2 - $4,700/ACRE
TRACT #3 - $6,150/ACRE
THURSDAY, JULY 15th, 2021, at 10:00 AM
ONAWA CITY COMMUNITY CENTER
320 10TH STREET
ONAWA, IOWA
LISTING AGENT:
LISTING #21113
DESCRIPTION: 480 acres m/l to be offered in three individual tracts at auction on Thursday, July 15th, 2021, at 10:00 A.M. Tract #1 consists of 155 acres m/l, of which there are 151.91 taxable acres m/l and 150.86 cropland acres m/l. Tract #2 consists of 250 acres m/l with approximately 242 taxable acres m/l and 240.82 cropland acres m/l. Tract #3 consists of 75 acres m/l with approximately 74 taxable acres m/l and 74.23 cropland acres m/l. Tract #1 has an average CSR2 of 58, Tract #2 has an average CSR2 of 57 and Tract #3 has an average CSR2 of 57, with the county average CSR2 being 57.6.
DIRECTIONS:
Tract #1-From Onawa, Iowa, go east on County Highway L-12 to Holly Avenue, then north on Holly Avenue to 220th Street. Tract #1 is located in the NE corner of the intersection of Holly Avenue & 220th Street.
Tract #2- From Onawa, Iowa, go east on County Highway L-12 to Larch Avenue. Tract #2 is located in the NE corner of the intersection of L-12 & Larch Avenue or on the north side of L-12.
Tract #3- From Onawa, Iowa, go east on County Highway L-12 to Locust Avenue. Tract #3 is located in the southwest corner of the intersection of Locust Avenue and L-12. Please watch for real estate signs for all three tracts.
TRACT #1-155 ACRES M/L
LEGAL DESCRIPTION: The Southwest Quarter (SW 1/4) of Section Thirty-four (34), Township Eighty-four (84) North, Range Forty-five (45), West of the 5th P.M., Monona County, Iowa, Except Parcel #844534325007 & #844534325008. Please refer to abstract for exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 150.86 acres
Corn Base: 74.3 acres PLC Yield: 112 bu.
Bean Base: 74 acres PLC Yield: 35 bu.
This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time.
PROPERTY TAXES: $4,942/year.
Property taxes will be prorated to date of closing.
IMPROVEMENTS: This property is unimproved except for surface drainage and perimeter fence.
TRACT #2-250 ACRES M/L
LEGAL DESCRIPTION: All that part of the North One-Half of Section Thirty-five (35), Township Eighty-four (84) North, Range Forty-five (45), West of the 5th P.M., Monona County, Iowa, located North of the Highway and all that part of the Southwest Quarter (SW1/4) located North of the Highway. Please refer to abstract for exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 240.82 acres (Est)
Corn Base: 120 acres PLC Yield: 112 bu. (Est)
Bean Base: 120 acres PLC Yield: 35 bu. (Est)
This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time.
PROPERTY TAXES: $8,000/year. (Est)
Property taxes will be prorated to date of closing.
IMPROVEMENTS: This property has an older house that is being sold with the property “As Is”. This property also has 5 metal grain storage bins. They are also being sold “As Is”. The property has other improvements such as surface drainage and perimeter fence.
TRACT #3-75 ACRES M/L
LEGAL DESCRIPTION: All that part of the Northeast Quarter (NE1/4) of Section Thirty-five (35), Township Eighty-four (84) North, Range Forty-five (45), West of the 5th P.M., Monona County, Iowa, located South of the Highway. Please refer to abstract for exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 74.23 acres (Est)
Corn Base: 37 acres PLC Yield: 112 bu. (Est)
Bean Base: 37 acres PLC Yield: 35 bu. (Est)
This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time.
PROPERTY TAXES: $2,350/year. (Est)
Property taxes will be prorated to date of closing.
IMPROVEMENTS: This property has improvements such as surface drainage and perimeter fence.
LISTING #21113 - TERMS AND CONDITIONS
FARM LEASE-ALL TRACTS: Sellers are to retain all of the 2021 cash rent or income due for 2021. The lease for 2022 has been terminated.
SALE METHOD: Tracts #1, #2 and #3 will be offered as individual tracts and will not be combined. Tract #1 will be sold as 155 acres m/l, Tract #2 will be sold as 250 acres m/l and Tract #3 will be sold as 75 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 September 15, 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 15, 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: Andrew Sigerson
SELLER: Corn Queen, LLP
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.