LAND
Serving America’s Landowners Since 1929 AUCTION L-1400802 157+/- Acres, Louisa County, Iowa Monday, September 29, 2014 • 10:00 AM at the City of Letts Community Center • 125 East Iowa Street • Letts, Iowa
Highlight Features • Excellent quality, bare land tract, located close to paved roads, and major grain terminals. • Farm is approximately 97% tillable and is partially tiled, with 6 and 8 inch mains, and with 5 and 6 inch laterals. • Farm has very productive soils, with average CSR of 93 or CSR2 of 94.4. • All cropped acres are classified as NHEL (non- highly erodible land) with no WL (wetlands) identified. • High yield potential and strong cash rental rates make this an excellent opportunity for either a farmer or investor.
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For additional information, please contact: Roger L. Johnson, Agent Dennis J. Rahe, Agent Cedar Falls, Iowa Fairfax, Iowa Cell: (319) 230-0389 Cell: (319) 270-1010 Office: (319) 277-0464 Office: (319) 845-5096 www.FarmersNational.com/RogerJohnson [email protected] www.FarmersNational.com/DennisRahe
Real Estate Sales • Auctions • Farm and Ranch Management • Appraisals • Insurance • Consultations Oil and Gas Management • Lake Management • Forest Resource Management • National Hunting Leases • FNC Ag Stock PROPERTY INFORMATION Property Location: From intersection of US Highway Farm Data: 61 and Iowa Highway 92 (just west of Grandview), go Cropland 152.74 acres one half mile south on US Highway 61, then west one Waterways 2.40 acres quarter mile on 145th Street (gravel road) , and farm Road 1.83 acres starts on south side of this gravel road. Total 156.97 acres • Net taxable acres 155.14 Legal Description: E1/2 SW1/4 and W1/2 SE1/4 (except approximately 3.03 acre building site acreage FSA Information (Whole Farm): in N1/2 NW1/4 SE1/4, which is legally described as Base Yield (Direct/CC) Parcel “A”) of Section 28, Township 75N, Range 3W of Corn 75.0 acres 144/152 bushels per acre the 5th P.M. Soybeans 75.0 acres 35/42 bushels per acre
Property Description: Excellent quality bare 157+/- Taxes: $5,122 (net) per year or $32.63 (net) per acre. acre tract, located in northeast Louisa County, in southeast Iowa. Farm is approximately 97% tillable, is partially tiled, has very productive soils, with an average CSR of 93.0 and CSR2 of 94.4. Farm is located within one half mile of two paved roads and is very close to major Mississippi River grain terminals. This would be an excellent add on or investor unit.
From North Boundary Looking South From East of Northwest Corner Looking East
From Northeast Corner Looking South From North Boundary Looking Southeast 145th St 122 162C2 120B 119
Aerial Photo 119 120B Soil Map 118 145th St 145th St 162C2 122 162C2 120B 119
Sec. 28
119 120B Sec. 28 T75N R03W 118 162C2 118
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T75N R03W T75N R03W
119 118 120B
162B 118 119 162D2 11B 162D2 162B Sec. 33 118 162D2 11B 162D2
Sec. 33 MAP NON-IRR SYMBOL SOIL NAME LCC CSR1 CSR2 ACRES Sec. 33 MAP NON-IRR 119 Muscatine silty clay loam, 0 to 2 percent slopes I 100 100 60.0 SYMBOL SOIL NAME LCC CSR1 CSR2 ACRES 120B Tama silty clay loam, 2 to1 159 percent sMloupsceastine silty clay loamII, e0 to 2 pe9rc5ent sl9o5pes 56.6 I 100 100 60.0 162C2 Downs silt loam, 5 to 9 percent s1l2o0pBes, moderaTtaemlya esirlotyd celady loam, 2II Iteo 5 perc7en3t slop8e2s 26.2 IIe 95 95 56.6 118 Garwin silty clay loam, 01 t6o2 C22 percDeowntn s lsoilpt leosam, 5 to 9 percenItI swlopes, m9o5derat9el4y erod1e1d.2 IIIe 73 82 26.2 La1ti1tu8de: 41.2657°N Garwin silty clay loam, 0 to 2 percent slopes IIw 95 94 11.2 162B Stineman Downs silt loam, 2 to L5on pgietudrec:e -9n1.t2 0s6l6o°Wpes IIe 90 90 1.7 Im16ag2eBry Source: USDA NADIPo wns silt loam, 2 to 5 percent slopes IIe 90 90 1.7 11B LouisaC Coolo.,- EIAly silty clay loams, 0So til oD a5ta pSoeurrcee: UnStD sAl NoRpCeSs IIe 68 78 0.7 Bo1u1nBdaries Are ApproCxiomlaote-Ely silty clay loams, 0 to 5 percent slopes IIe 68 78 0.7 162D2 Downs silt loam, 9 to 14 percent1 s6l2oDp2es,D mowodnse srialtt leolaym e, r9o tdo e1d4 percenIItI eslopes, m63oderat5e6ly erod0e.d3 IIIe 63 56 0.3 122 Sperry silt loam, 0 to 11 p22ercent slopes Sperry silt loam, 0 tIoII 1w percen6t s3lopes33 0.2 IIIw 63 33 0.2 SUMMARY SUMMARY 93.0 94.4 157.0 93.0 94.4 157.0 Latitude: 41.2657°N StinLeamtituadne: 41.2657°N Longitude: -91.2066°W Stineman Longitude: -91.2066°W Imagery Source: USDA NAIP Property Location Map LouiImsag Ceroy .S,o IuArce: USDA NAIP Soil Data Source: USDA NRCS Louisa Co., IA Soil Data Source: USDA NRCS Boundaries Are Approximate Boundaries Are Approximate 155th St
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Latitude: 41.2280°N Stineman Longitude: -91.1875°W Imagery Source: USDA NAIP Louisa Co., IA Soil Data Source: USDA NRCS Boundaries Are Approximate AUCTION TERMS Minerals: All mineral interests owned by the Seller, if Sale Method: The real estate will be offered as one any, will be conveyed to the Buyer(s). individual tract. All bids are open for advancement until the Auctioneer announces that the real estate is sold Taxes: Seller(s) will pay those real estate tax or that the bidding is closed. Bidding increments are installments that would become delinquent if not paid solely at the discretion of the Auctioneer. No absentee on or before September 30, 2014, and on or before or telephone bids will be accepted without prior March 31, 2015, and on or before September 30, approval from Farmers National Company and Seller. 2015, together with all delinquent taxes and penalties, All decisions of the Auctioneer are final. if any. Approval of Bids: Final sale is subject to the Seller’s Conditions: This sale is subject to all easements, approval or rejection. covenants, restrictions of record, and leases. Each Bidder is responsible for conducting, at their own risk, Agency: Farmers National Company and its their own inspections, inquiries, and due diligence representatives are acting as Agents of the Seller. concerning the property. All property is sold on an “AS IS-WHERE IS” basis with no warranties or guarantees, Announcements: Information provided herein either expressed or implied, by the Seller or Auction was obtained from sources deemed reliable, but Company. neither the Auction Company nor the Seller makes any guarantees or warranties as to its accuracy. All Possession: Possession will be granted at closing on potential bidders are urged to inspect the property, or before October 29, 2014, subject to current lease. its condition, and to rely on their own conclusions. Lease has been terminated for the 2015 crop season. All sketches, dimensions, and acreage figures are approximate or “more or less”. Any announcements Earnest Payment: A 10% earnest money payment made auction day by the Auction Company will take is required on the day of the auction. The payment precedence over any previous printed materials or oral may be in the form of cash, cashier’s check, personal statements. The Auction Company and Seller reserve check, or company check. All funds will be deposited the right to preclude any person from bidding if there is and held by Farmers National Company in their trust any question as to the person’s credentials or fitness account. to bid.
Contract and Title: Immediately upon conclusion of Seller: Marjorie E. Stineman Estate; Dwight A. the auction, the high bidder(s) will enter into a real Stineman; Ruth E. Hamby; Lyle T. Stineman; Noel K. estate contract and deposit with the auction company Stineman; and Myron D. Stineman. the required earnest payment. The Seller will provide a current abstract of title at their expense. The cost of Attorney for Sellers: Steven A. Sents, Columbus any escrow closing services will be paid by the Seller. Junction, Iowa Sale is not contingent upon Buyer(s) financing. From East Boundary to Southwest Closing: The sale closing is on or before October 29, 2014. The balance of the purchase price will be payable at closing in cash, guaranteed funds, or by wire transfer at the discretion of the auction company.
Survey: At the Seller’s option, the Seller shall provide a property survey sufficient to provide good title where there is not an existing legal or where new boundaries are created. The Seller will pay the survey cost. Final contract prices will not be adjusted to reflect any difference between the advertised and actual surveyed acres.