60th street & n avenue, Morning Sun, IA 52640 - Louisa County

UNRESERVED LAND AUCTION

117.82 ACRES M/L SELLS IN ONE TRACT

LOUISA COUNTY, IOWA

MORNING SUN, IOWA

Located 1 mile south of Wapello on Hwy 61 then 3 miles west on 65th Street then mile south on M Avenue, then west on 60th Street.

THURSDAY, NOVEMBER 17, 2011 AT 10:02 AM

THIS LAND SELLS POSITIVELY TO THE HIGHEST BIDDER!!

Preview on Wednesday, November 2nd from 10-11 am

117.82 ACRES M/L FARMLAND WITH 79.3 CSR!

FSA information:

105.2 acres tillable of which 2.7acres in CRP at $162.51 per acre = $439.00, expires 9/30/2012 and 2.2 acres are in CRP at $185.00 per acre = $407.00, expires 9/30/2013

119 bushel corn yield and 48.7 acre corn base

35 bushel bean yield and 48.7 acre bean base

Corn suitability rating is 79.3

Located in Section 1, Wapello S Township, Louisa County, Iowa

TERMS: 20% down payment on November 17, 2011. Balance to be paid on or before December 16, 2011 upon delivery of merchantable abstract and deed.

POSSESSION: December 16, 2011

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 at closing.

Gross $2528.66

Ag. Credit $103.52

Net $2424.00 (rounded)

Reservations: All crops are reserved for the tenant.

SPECIAL PROVISIONS:

~ Termination has been served to the tenant. The buyer will have fall tillage privileges upon completion of the harvest of the 2011 crops.

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

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

~ Buyer(s) agree to follow all requirements of conservation plans and practices required by the FSA to maintain eligibility in the Conservation Reserve Program. Buyer(s) agree 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(s) further agree 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(s) elect to take the ground out of CRP, the buyer(s) will be responsible to the seller/tenant for any prorate of the CRP payment that the seller/tenant would have received.

~ 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 installing his/her own entrances if needed or desired.

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

~ This real estate is selling subject to any and all covenants, restrictions and easements of record, 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.

Owner: Ursel Barth Estate

Dennis Barth, Executor

William Matthews - Attorney