IWV Road, Iowa City, IA 52240 - Iowa County

JOHNSON COUNTY LAND AUCTION

IOWA CITY, IOWA

Farm is located west of Exit 93 of Highway 27/218, then 3 miles west on IWV Road/Melrose Avenue.

Auction Location: Auction to be held at the Iowa Army National Guard Readiness Center, 4540 Melrose Avenue, Iowa City, Iowa. (1/2 mile west of Exit 93)

THURSDAY, OCTOBER 2, 2014 AT 10:00 A.M.

110 ACRES M/L (Subject to final survey) SELLS IN TWO TRACTS

Land Preview on Thursday, September 18th from 5-6pm.

Selling Choice with the privilege.

High bidder may take Tract #1 or Tract #2 or both tracts.

TRACT #1 40 Acres M/L (Subject to final survey)

FSA indicates: 37.52 HEL acres tillable

Corn Suitability Rating 2 of 52.9 (CSR1 of 54.4) on the entire tract.

Located in Section 11, Union Township, Johnson County, Iowa.

TRACT #2 70 Acres M/L (Subject to final survey)

FSA indicates: Approx.: 67.5 HEL acres tillable.

Corn Suitability Rating 2 of 55 (CSR1 of 56.1) on the entire tract.

Located in Section 15, Union Township, Johnson County, Iowa.

Tillable Farmland with Development Potential on Hard Surface Road, Minutes from Iowa City!

Tract #1

Terms: 20% down payment on October 2, 2014. Balance at closing with projected date of January 2, 2015 upon delivery of merchantable abstract and deed and all objections have been met.

Possession: Projected date of January 2, 2015.

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 #2

Terms: 20% down payment on October 2, 2014. Balance at closing with projected date of December 1, 2014 upon delivery of merchantable abstract and deed and all objections have been met.

Possession: Projected date of December 1, 2014.

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 and will be used to prorate at closing.

Tract #1

Gross $564.53

Ag. Credit ($22.90)

Net $542.00 (Rounded)

Tract #2

Gross $1,082.37

Ag. Credit ($44.00)

Net $1,038.00 (Rounded)

Any announcements made the day of sale take precedence over advertising.

Special Provisions:

Current tenant has been given notice and all farms are being sold free and clear for the 2015 farming season.

It shall be the obligation of the buyer(s) to report to the Johnson 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.

Both Tracts will be surveyed by a registered land surveyor and surveyed acres will be the multiplier for each tract.

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.

The buyer(s) shall be responsible for any fencing in accordance with Iowa state law.

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 on the day of the auction will take precedence over prior advertising and printed matter.

Owner: Marjory E. Rogers

Dale Sanderson Attorney