LEE COUNTY LAND AUCTION

MT. HAMILL, IOWA

Land is located ½ mile west of Mt. Hamill, IA on 140^th Street. OR 2 miles south of Houghton, IA on 150^th Avenue.

 
Auction to be held at the Mt. Hamill Tap, Mt. Hamill, IA.  Location address is 1467 155th Ave, Donnellson, IA

FRIDAY, JUNE 9, 2017 AT 10:00 A.M.

156 Acres M/L – SELLS IN TWO TRACTS (Subject to final survey)

Selling Choice with the privilege.
High bidder may take Tract #1 or Tract #2 or both tracts!

TRACT #1 – 77 Acres M/L – Subject to final survey
Approx. 73.5 acres tillable.
Corn Suitability Rating 2 of 70.9 (CSR 1 of 67.5) on the tillable.
Located in Section 23, Cedar Township, Lee County, Iowa.

TRACT #2 – 79 Acres M/L – Subject to final survey
Approx. 72.5 acres tillable.
Corn Suitability Rating 2 of 70.7 (CSR 1 of 70.2) on the tillable.
Located in Section 23, Cedar Township, Lee County, Iowa.

TERMS ON BOTH TRACTS

Terms: 20% down payment on June 9, 2017. Balance at closing with a projected date of July 24, 2017, upon delivery of merchantable abstract and deed and all objections have been met.
Possession: Projected date of July 24, 2017 (Subject to tenant’s rights)
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.

Tract #1

Gross                       $1,830.36

Ag. Credit                   ($111.65)
Net                           $1,718.00 (Rounded)

Tract #2

Gross                       $1,867.46

Ag. Credit                   ($122.82)

Net                                     $1,744.00 (Rounded)

Special Provisions:

·       Tracts #1 & #2 are selling subject to tenant’s rights and are rented for the 2017 crop year as follows:

Tract #1

The buyer will receive the balance of the cash rent of $5,538.00, due November 1, 2017 and will be paid by the tenant to the buyer.

Tract #2

The buyer will receive the balance of the cash rent of $5,462.00, due November 1, 2017 and will be paid by the tenant to the buyer.

·       It shall be the obligation of the buyer(s) to serve termination to the tenant, prior to September 1, 2017, if so desired.

·       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. Please note that the final tillable acres will be determined by the Lee County FSA office.

·       Both 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.

Owner:  Patricia M. Winnike Estate
Daniel J. Winnike – Executor
Christopher S. Wallace – Attorney for Estate

For information contact Nate Larson of Steffes Group, 319.385.2000 or 319.931.3944 (cell)