LARGE HENRY COUNTY LAND AUCTION

MT. PLEASANT, IOWA
The land is located ½ mile north of Mt. Pleasant on Iowa Avenue.

Auction to be held at the Steffes Group facility, 605 East Winfield Avenue, Mt. Pleasant, IA

TUESDAY, DECEMBER 13, 2016 AT 10:00 A.M.

375 Acres M/L (Subject to final survey) – SELLS IN FIVE TRACTS

Auctioneer’s Note:  Steffes Group is pleased to present to you the Dan E. McAllister Trust land auction.  Dan was a successful farmer and businessman in the tri-state area as he was the founder of McAllister Seed Company.  This is an unprecedented opportunity to purchase investment quality Iowa farm ground, with visibility of Highway 34 bypass and Tracts #1 & #2 laying within the city limits of Mt. Pleasant, IA.  The farm is selling Free and Clear for the 2017 farming season.

82.4 CSR2 !

“Selling Choice with the Privilege”

Tracts #1, 2, 3, 4 & 5 will be sold price per acre and will be selling Choice with the Privilege.  High bidder may take Tract #1, Tract #2, Tract #3, Tract #4, Tract #5 or all tracts or any combination of tracts, in any order, for their high bid.  This will continue until all five tracts are sold.

TRACT #1 – 67.5 Acres M/L – Subject to final survey
FSA information: 56.05 acres tillable.
Corn Suitability Rating 2 of 78.8 on the entire farm.
Located in Section 4, Center Township, Henry County, Iowa.

TRACT #2 – 55 Acres M/L – Subject to final survey
FSA information has Tracts 2 & 3 as one field of 106.27 acres tillable.
Corn Suitability Rating 2 of 82.4 on the entire farm.
Located in Section 4, Center Township, Henry County, Iowa.

TRACT #3 – 50 Acres M/L – Subject to final survey
FSA information has Tracts 2 & 3 as one field of 106.27 acres tillable.
Corn Suitability Rating 2 of 81.3 on the entire farm.
Located in Sections 4 & 5, Center Township, Henry County, Iowa.

TRACT #4 – 72.5 Acres M/L – Subject to final survey
FSA information: 74.77 acres tillable.
Corn Suitability Rating 2 of 78.4 on the entire farm.
Located in Sections 32 & 33, Marion Township, Henry County, Iowa.

TRACT #5 – 130 Acres M/L – Subject to final survey
FSA information: 117.63 acres tillable.
Corn Suitability Rating 2 of 74.6 on the entire farm.
Located in Sections 32 & 33, Marion Township, Henry County, Iowa.

Terms: 10% down payment on Tuesday, December 13, 2016. Balance at closing with a projected date of February 1, 2017, upon delivery of merchantable abstract and deed and all objections have been met.
Possession: Projected date of March 1st, 2017.
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:                      $2,193.75

Ag. Credit:                   (92.32)

Family Farm Credit:        (61.57)

Net:                        $2,040.00 (rounded)

Tract #2

Gross:                      $1,695.54

Ag. Credit:                   (71.19)

Family Farm Credit:        (50.17)

Net:                        $1,574.18 (rounded)

Tract #3

Gross:                      $1,761.37

Ag. Credit:                   (69.81)

Family Farm Credit:        (49.20)

Net:                        $1,644.00 (rounded)

Tract #4

Gross:                      $3,023.32

Ag. Credit:                  (109.76)

Family Farm Credit:        (77.35)

Net:                        $2,837.00 (rounded)

Tract #5

Gross:                      $3,944.10

Ag. Credit:                  (155.65)

Family Farm Credit:       (109.69)

            Net:       $3,679.00 (rounded)

Special Provisions:

·         All farms are being sold free and clear for the 2017 farming season.

·         It shall be the obligation of the buyer(s) to report to the Henry 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. Please note that the final tillable acres for each tract will be determined by the Henry County FSA office, as some fields are combined and/or overlap Tract lines.

·         All Tracts will be surveyed by a registered land surveyor and surveyed acres will be the multiplier for each tract.

·         This auction sale is not contingent upon Buyer’s financing or any other Buyer contingencies.

·         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.

Dan E. McAllister Trust
Kenneth D. Goodman - Trustee
Rande A. McAllister – Attorney for Trust

For more information contact Lynn Richard of Steffes Group at 319.385.2000 or 319.931.9090(cell)