LEE COUNTY LAND AUCTION DONNELLSON, IOWA Auction Location: Auction to be held at the Youth Learning Center, at the Lee County Fairgrounds, Donnellson, Iowa. THURSDAY, SEPTEMBER 22, 2016 AT 10:00 A.M. 185 Acres M/L – SELLS IN THREE TRACTS “Selling Choice with the Privilege” Tracts #1 & 2 will be sold price per acre and will be selling Choice with the Privilege. High bidder may take Tract #1, Tract #2 or both tracts, for their high bid. This will continue until both tracts are sold. Tract #3 will be sold after Tracts #1 & #2 are sold. TRACT #1 – 70 Acres M/L Tract #1 is located 6 miles north of Donnellson on Highway 27/218, then 4 miles west on J40, then 3/4 miles south on 140th Street. FSA information: 58.87 acres tillable all of which are in CRP as follows: 58.9 acres at $182.16 = $10,729.00 and expires on 9-30-2023. Corn Suitability Rating 2 of 54.4 (CSR 1 of 47.4) on the tillable. Located in Section 3, Harrison Township, Lee County, Iowa. TRACT #2 – 40 Acres M/L Tract #2 is located 6 miles north of Donnellson on Highway 27/218, then 4 miles west on J40, then 1 mile south on 140th Street. FSA information: 35.78 acres tillable all of which are in CRP as follows: 35.8 acres at $154.32 = $5,525.00 and expires on 9-30-2023. Corn Suitability Rating 2 of 37.3 (CSR 1 of 32.8) on the tillable. Located in Section 10, Harrison Township, Lee County, Iowa. TRACT #3 – 75 Acres M/L (subject to final survey of homestead not selling) Tract #3 is located 3 1/2 miles south of Donnellson on Highway 27, then 2 ½ miles west on J62/255th Street. FSA information: approx.. 58.65 acres tillable all of which are in CRP as follows: approx.. 58.65 acres at $87.69 = $5,143.00 and expires on 9-30-2020. Corn Suitability Rating 2 of 34.4 (CSR 1 of 37) on the tillable. Located in Section 24, Van Buren Township, Lee County, Iowa. Terms: 20% down payment on September 22, 2016. Balance at closing with a projected date of November 7, 2016 upon delivery of merchantable abstract and deed and all objections have been met. Possession: Projected date of November 7, 2016. Real Estate Taxes: To be prorated to date of possession on the basis of the last available tax statement. Seller shall pay any unpaid real estate taxes payable in prior years. The following taxes are approximate: Tract #1 Gross $948.73 Family Farm ($49.68) Ag. Credit ($70.02) Net $828.00 rounded Tract #2 Gross $240.10 Family Farm ($7.23) Ag. Credit ($10.19) Net $222.00 rounded Tract #3 Gross $781.45 Family Farm ($23.50) Ag. Credit ($33.10) Net $724.00 rounded Special Provisions: • The purchase price for each tract will be determined by the number of approximate acres multiplied by the per acre bid price. • It shall be the obligation of the buyer(s) to report to the Lee County FSA office and show filed deed(s) in order to receive the following if applicable: A. Allotted base acres. B. Any future government programs. C. Prorate of CRP. • Tract #1 CRP payment is as follows: 58.9 acres at $182.16 = $10,729.00 and expires on 9-30-2023. • Tract #2 CRP payment is as follows: 35.8 acres at $154.32 = $5,525.00 and expires on 9-30-2023. • Tract #3 CRP payment is as follows: approx.. 58.65 acres at $87.69 = $5,143.00 and expires on 9-30-2020. Please note that the final CRP acres and CRP prorate will be determined by the Lee County FSA office, as this land is being split from other CRP land that is staying with the homestead not selling. • Buyer(s) agree to follow all requirements of conservation plans and practices required by the FSA to maintain eligibility in the Conservation Reserve Program. Buyer(s) agree to accept responsibility and liability for any actions by the buyer which would endanger eligibility for the CRP or actions that would require repayment of the CRP payment or payments. Buyer(s) further agree to indemnify and hold harmless the sellers/tenant for any recovery sought by the FSA due to actions of buyer, which would violate the requirements of the CRP. In the event the buyer(s) elects to take the ground out of CRP, the buyer(s) will be responsible to the seller/tenant for any prorate of the CRP payment that the seller/tenant would have received. • Seller shall not be obligated to furnish a survey. • The buyer(s) shall be responsible for any fencing in accordance with Iowa state law. • If one buyer purchases more than one tract, the seller shall only be obligated to furnish one abstract and deed. (husband & wife constitute one buyer) • The buyer(s) shall be responsible for installing his/her own entrances if needed or desired. • If in the future a site clean-up is required it shall be at the expense of the buyer(s). • This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws. • The buyer(s) acknowledge that they have carefully and thoroughly inspected the real estate and are familiar with the premises. The buyer(s) are buying this real estate in its "as is" condition and there are no expressed or implied warranties pertaining to the same. • Any announcements made the day of sale take precedence over advertising. Owner: Virginia B. Watkins Estate Phyllis Thatcher, Janet Rooney & Charlotte Appledorn – Co-Executors R.L. “Dick” Fehseke, Jr.– Attorney for Estate For more information contact Lynn Richard of Steffes Group at 319.385.2000 or 319.931.9090