Wayland, IA 52654 - Henry County

2 Henry County LAND AUCTIONS

AUCTION #1 -

106 ACRES M/L - CRP LAND

AUCTION #2 -

12.77 ACRES M/L - POTENTIAL BUILDING SITE

WAYLAND & MT. PLEASANT, IOWA

THURSDAY, MAY 30, 2013

LAND PREVIEWS:

Auction #1: Thursday, May 16th from 10-11 A.M.

Auction #2: Thursday, May 16th from 1-2 P.M.

AUCTION #1

THURSDAY, MAY 30, 2013 AT 10:02 A.M.

Wayland, Iowa

Information on AUCTION #1

Located 3 miles south of Wayland, Iowa on W55/Franklin Ave.,

then 1 mile west on 140th Street. Auction will be held on site.

106 Acres M/L - CRP LAND - Sells as 1 Tract

FSA information: 76.3 acres tillable of which is in CRP as follows:

76.3 acres at $121.01 = $9,233.00 and expires on 9-3-2017

Balance of land is draws with timber.

Corn suitability rating on the tillable of 57.6 and 49 on the entire farm.

Located in Section 27, Jefferson Township, Henry County, Iowa.

AUCTION #2 -

THURSDAY, MAY 30, 2013 AT 1:02 P.M.

Mt. Pleasant, Iowa

Information on AUCTION #2

Located 2 miles south of Mt. Pleasant, Iowa on W55/Franklin Ave

then east to 1551 245th Street. Auction will be held on site.

12.77 Acres M/L- Potential Building Site - Sells as 1 Tract

An excellent opportunity to build your dream home or own a recreational property!

Land has city water, septic system(1993) and access from 245th Street.

FSA information: 9.4 acres tillable

110 bu. corn yield and a 3.2 acre corn base

44 bu. oat yield and a 1.2 acre oat base

Corn suitability rating on the tillable of 40.6 and 36.5 on the entire farm.

Located in Section 13, Tippecanoe Township, Henry County, Iowa

TERMS & CONDITIONS ON AUCTION #1 & #2

TERMS: 20% down payment on May 30, 2013. Balance at closing with projected date of June 28, 2013 upon delivery of merchantable abstract and Court Officer's deed.

POSSESSION: Projected date of June 28, 2013.

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

Auction #1: Auction #2

Gross: $1,160.11 Gross/Net: $434.00

Ag Credit: $70.28

Net: $1,090.00 (rounded)

Special Provisions:

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

~ CRP on Auction #1 is as follows: 76.3 acres at $121.01 = $9,233.00 and expires on 9-3-2017

~ CRP payments will be prorated to date of possession.

~ Buyer agrees to follow all requirements of conservation plans and practices required by the FSA to maintain eligibility in the Conservation Reserve Program. Buyer agrees to accept responsibility and liability for any actions by the buyer which would endanger eligibility for the CRP or actions that would require repayment of the CRP payment or payments. Buyer further agrees to indemnify and hold harmless the sellers/tenant for any recovery sought by the FSA due to actions of buyer, which would violate the requirements of the CRP. In the event the buyer elect to take the ground out of CRP, the buyer will be responsible to the seller/tenant for any prorate of the CRP payment that the seller/tenant would have received.

~ The seller shall not be obligated to furnish a survey.

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

~ The buyer 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.

~ This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.

~ The buyer acknowledges that he/she has carefully and thoroughly inspected the real estate and is familiar with the premises. The buyer is buying this real estate in its "as is" condition and there are no expressed or implied warranties pertaining to the same.

~ Please Note Special Provision on Auction #2: Seller disclaims any warranty on the septic system. It shall be the buyer's obligation to inspect & determine if the septic system complies with state and county septic code and whether it can be operational as installed.

Owner: Nora Vanderwilt Trust

Rande A. McAllister - Trustee