367± Acres M/L – Selling in 4 Tracts! For information contact Nate Larson at Steffes Group,
319.385.2000 or 319.931.3944

LARGE DES MOINES COUNTY IOWA LAND AUCTION

OAKVILLE, IOWA

Land is generally located ½ mile south of Mediapolis Road & Highway 99, then ½ mile east on 230^th Street.

Auction to be held at Mediapolis City Hall, 510 Main Street, Mediapolis, IA 52637

367 Acres M/L – SELLS IN 4 TRACTS

 “Selling Choice with the Privilege”

Tracts #1, 2, 3 & 4 will be sold price per surveyed acre and will be selling Choice with the Privilege.  High bidder may take Tract #1, Tract #2, Tract #3, Tract #4, or all tracts or any combination of tracts, in any order, times their high bid.  This will continue until all tracts are sold.  Tracts will not be recombined.

Tract #1 – 156 Acres M/L – (Subject to final survey)

FSA indicates: 160.38 acres tillable.

There is a 38’x100’ Quonset building.

Corn Suitability Rating 2 of 38.3 on the tillable.

Located in Section 30, Huron Township, Des Moines County, Iowa.

<Click Here> for Soil Map

Tract #2 – 39.19 Acres M/L – (Subject to final survey)

FSA indicates: 40.70 acres tillable.

Corn Suitability Rating 2 of 72.3 on the tillable.

Located in Section 25, Huron Township, Des Moines County, Iowa.

<Click Here> for Soil Map

Tract #3 – 59.63 Acres M/L – (Subject to final survey)

FSA indicates: 68.04 acres tillable.

Corn Suitability Rating 2 of 74 on the tillable.

Located in Sections 19 & 24, Huron Township, Des Moines County, Iowa.

<Click Here> for Soil Map

Tract #4 – 112.71 Acres M/L – (Subject to final survey)

Approx. 105 acres tillable.

Corn Suitability Rating 2 of 74.7 on the tillable.

Located in Sections 19 & 24, Huron Township, Des Moines County, Iowa.

<Click Here> for Soil Map

<Click Here> to View FSA Information

TERMS ON ALL TRACTS

Terms:10% down payment on March 2, 2020.  Balance due at closing with a projected date of April 17, 2020, upon delivery of merchantable abstract and deed and all objections have been met.

Possession: Projected date of April 17, 2020. (Subject to tenant’s rights on the tillable land.)

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.

Real Estate Taxes on Tract #1

Net                              $2,404.00 (Rounded)

Drainage Tax            $3,350.00

Real Estate Taxes on Tract #2

Net                              $1,118.00 (Rounded)

Drainage Tax            $952.01

Real Estate Taxes on Tract #3

Net                              $1,730.00 (Rounded)

Drainage Tax            $1,390.79

Real Estate Taxes on Tract #4

Net                              $3,310.00 (Rounded)

Drainage Tax            $2,687.65

Special Provisions:

• The land is leased for the 2020 farming season.  The buyer(s) will receive the second half rent payment, which is due November 15, 2020 and will be paid by the tenant to the buyer as follows:

Tract #1 – 160.38 acres x $230 = $36,887.40.  Second half payment is $18,443.70.

Tract #2 – 40.70 acres x $230 = $9,361.00.  Second half payment is $4,680.50.

Tract #3 – 66 acres x $200 = $13,200.  Second half payment is $6,600.

Tract #4 – 105 acres x $230 = $24,150.  Second half payment is $12,075.

• It shall be the obligation of the buyer(s) to serve termination to the tenant prior to September 1, 2020, if so desired.
• It shall be the obligation of the buyer(s) to report to the Des Moines 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.  Final tillable acres will be determined by the FSA office.
• Tracts will be surveyed by a licensed surveyor and surveyed acres will be the multiplier for said tract.  If the recorded survey is different than the announced surveyed acres, adjustments to the final contract price will be made accordingly at closing.
• Tract #3 will have an easement established through the adjoining land owner for access.
• This auction sale is not contingent upon Buyer’s financing or any other Buyer contingencies.
• Purchasers who are unable to close due to insufficient funds or otherwise, will be in default and the deposit money will be forfeited.
• 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 real estate.
• Steffes Group, Inc. is representing the Seller.
• Any announcements made the day of sale take precedence over advertising.

Owners: Romkey Family Farms, Inc.

James W. Miller – Attorney for Seller

For information contact Nate Larson at Steffes Group,
319.385.2000 or 319.931.3944

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