Mahaska County Land Auction 158 Acres m/l Barnes City, Iowa American Legion Building 10 a.m. October 9, 2014 Description: 158 acres m/l of Mahaska County farmland, located in Section 13, Pleasant Grove Township. Farm has been well maintained and is located in a high quality area of Mahaska County. Farm is available for the 2015 crop year. Land Auction Details Seller: Frank Pierce 10 a.m. Thurs., October 9, 2014 American Legion Hall P.O. Box 162 Barnes City, IA 50027 Agents Vince Johnson 641-891-5326 vince@iowalandsales.com Matt Mann 641-990-4016 matt@iowalandsales.com Auctioneer: Stan Mcllrath Page 1 of 8
Property Information Legal Description Mahaska County 158 acres m/l in the North half of the Southeast Quarter and the South half of the Northeast Quarter all in Section 13, Township 77 North, Range 12 West of the 5 th P.M., Mahaska County, Iowa. Estimated Net Taxes $5,314 (Dwelling, out-buildings & land) FSA Data Total cropland: 147.4 acres Corn base acres: 83.1 Bean base acres: 53.3 Corn direct and CC yield: 112 bushels Bean direct and CC yield: 33 bushels Directions from Barnes City Travel south out of Barnes City on County Pavement v13 2.5miles, turn left onto 130 th Street. Continue to follow 150 th Street 3 miles east and turn left onto Yale Avenue. Subject property will be located a quarter mile north on the east side of the road. Page 2 of 8
Lease Terms Cropland Lease has been terminated. Possession will be granted to the buyer on a to be determined date subject to possessory rights of tenant. Farmstead Dwelling One story brick home with 1,441 square feet of living area. Full Seller Disclosure of Property Condition and accompanying documents regarding the dwelling on the following pages. Contact Vince or Matt to arrange a private showing of the house. Septic System The septic tank has not been updated in recent years. Property is being sold As is, where is and it will be the responsibility of the buyer to have the septic system inspected and brought up to code (if necessary). Well There is a drilled well located north of the house. The water for the house and out buildings is currently being supplied by the well. Out Buildings Barn 52 x60 Pole Barn 46 x60 Machine Shed 1 30 x79 Machine Shed 2 24 x48 Loading Shed 60 x60 3 Grain Bins 6,500 bushels per bin Page 3 of 8
FSA Map Page 4 of 8
CSR Data Page 5 of 8
CSR 2 Data Page 6 of 8
Plat Map Page 7 of 8
Auction Terms & Announcements Method: Property will be offered for sale as an individual tract. Iowa Land Sales and its representatives are acting as agents of the seller. Bidding increments solely at discretion of the auctioneer. Final sale is subject to approval or rejection by seller(s). Seller(s) reserves right to refuse any and all bids. Contract & Earnest Payment: A 10% earnest money payment is required on the day of the auction. Earnest payment may be paid in the form of cash or check. High bidder will enter into a real estate contract immediately upon the conclusion of the auction and deposit with Iowa Land Sales the required earnest payment. All funds will be deposited and held in the Iowa Land Sales trust account. Bidding not contingent on buyer financing. If the Buyer fails to fulfill the terms of the Purchase Agreement to be executed on the day of the sale, Seller may forfeit the Agreement, and all payments made by Buyer shall be forfeited, including earnest money. Closing & Possession: Closing will occur on or about November 14, 2014. Balance of purchase price payable in cash or guaranteed check at closing. Possession will be granted to the buyer at closing. Cropland lease has been terminated, and possession will be granted to buyer on a to be determined date subject to possessory rights of tenant. The Purchase Agreement must be executed by the actual buyer or the legal representative of the Buyer on the day of the sale. In the event a potential Buyer cannot attend the auction, said Buyer can send a representative to the auction. Said representative must be registered with the Broker at least two (2) business days prior to the auction, along with a copy of a valid, signed Power of Attorney. Limited power of attorney forms are available upon request from the Broker. The Purchase Agreement cannot be assigned by Buyer without Seller s written consent. Announcements: All property is sold on an As is, Where is basis. No warranty or guaranty, either expressed or implied, is made by the auctioneer or seller. Sale is subject to all covenants, leases and easements of record. Conducting inspections and due diligence is the responsibility of each bidder and at their own risk. Announcements made on the day of the sale take precedence over previously printed information or oral statements. Disclaimer: Iowa Land Sales obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction. Page 8 of 8