DES MOINES COUNTY LAND AUCTION

MIDDLETOWN, IOWA
The farm is located 3/4 mile east of Middletown, IA on Old Highway 34, then ½ mile north on S. Prairie Grove Road.  Address is 10191 S. Prairie Grove Road.

Auction to be held at the Danville Community Building, 104 W Shepherd St, Danville, IA  

THURSDAY, NOVEMBER 17, 2016 AT 10:00 A.M.

<Starburst> 91.6 CSR!!

Auctioneer’s Note: Heritage Baptist Church originally bought this land as a future building site for their growing congregation.  The plans have changed as they have purchased another church building in Burlington.  Steffes Group is pleased to have been chosen to sell this land for them.

36.19 Acres M/L – SELLS IN ONE TRACT

This land presents an opportunity of highly productive tillable land with possible future development potential. The land is visible from Highway 34 Bypass.  It currently has a 3 acre building site, not in crop production, with a 30’x44’ shed and frontage and entrance off of S. Prairie Grove Road.

FSA information: 32.78 NHEL acres tillable.
Corn Suitability Rating 2 of 90.4 (CSR 1 of 91.7) on the entire farm.
Located in Section 30, Flint River Township, Des Moines County, Iowa.

The farm is rented for the 2017 crop year at $165 per acre x 29.95 acres = $4,941.75.  The buyer will receive the cash rent of $4,941.75, due on December 31, 2017 and will be paid by the tenant to the buyer.

There is a cell phone tower located on the property and the lease has been assigned to a third party. This lease commenced in 1999 and is for a period of 5 years and the tenant has the option to renew the lease in 5 year increments 5 more times. There are access and utility easements on a 300’x300’ area around the tower. There is no income to the land owner or new buyer at this time.
 
Not Included: 2016 Crops.

Terms: 20% down payment on November 17, 2016. Balance at closing with a projected date of December 30, 2016, upon delivery of merchantable abstract and deed and all objections have been met.

Possession: Projected date of December 30, 2016. (Landlord’s possession, 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.

Real Estate Taxes:
Gross              $1,287.64

Ag. Credit            ($64.41)

Net                  $1,224.00 (rounded)

Special Provisions:

·         The land will be sold by the acre and 36.19 Acres will be the multiplier to determine the final sale price. 

·         The land is selling subject to tenant’s rights and is rented for the 2017 crop year.  The buyer will receive the cash rent of $4,941.75, due on December 31, 2017 for the 2017 crop year and will be paid by the tenant to the buyer. The seller shall receive all of the 2016 cash rent for the 2016 crop year.

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

·         It shall be the obligation of the buyer to report to the Des Moines County FSA office and show filed deed in order to receive the following if applicable:   A. Allotted base acres.  B. Any future government programs.

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

·         Seller shall not be obligated to furnish a survey.

·         Buyer will be responsible for installing his/her own entrance, if so desired.

·         If in the future a site clean-up is required it shall be at the expense of the buyer.

·         The buyer shall be responsible for any fencing in accordance with Iowa state law.

·         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: Heritage Baptist Church
Brian J. Helling – Attorney

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