5778 130th Street, Lovilia, IA 50150 - Monroe County

FOUR REAL ESTATE AUCTIONS

Three Dairy Sites One Cattle Setup

Elmwood, Illinois New London, Iowa Lovilia, Iowa

Auctioneers Note: Dont miss your opportunity to name your PRICE! Steffes Group, Inc. is pleased to have been selected to conduct this LARGE dispersal of the real estate of the former dairies of Etcher Family Farms, LLC, Etcher Farms, Inc.,

and DBE Farms, Inc. All four auctions will be held at the Steffes Group Auction Facility in Mt. Pleasant, Iowa. Tracts #2, 3 & 4 sell absolute and will sell to the highest bidder, regardless of price!

THURSDAY, AUGUST 8, 2019 AT 10 AM

Auction held at the Steffes Group Auction Facility, 2245 East Bluegrass Road, Mt. Pleasant, IA.

Open Houses of the Real Estate will be on Tuesday, July 23rd, from 10-Noon.

Tract #3: 700 Head Dairy on 103 Acres M/L Subject to final survey

Located at 5778 130th Street, Lovilia, IA.

The milking center parlor is a 60x80 building with a 40 stall Westfalia Autorotor Carousel Parlor System, this building has offices, utility room and holding tanks. The attached 60x70 building has a Westfalia Hydra-glide crowd gate with an attached 120x224 free stall barn. Other buildings to include 56x200, 60x100 & approx. 50x60 free stall barns, 52x75 cattle shed. There are two additional cattle buildings on the west side of the property, 88x300 and 64x200. There is a 5 bay, 24x60 commodity building adjacent to the silage bunker. Grain storage includes a 6,800 bu. Harvestore, 12,000 bu. grain bin, (2) 5,800 bu. grain bins, 3,000 bu. grain bin & 1 small grain bin. There are numerous other smaller buildings on this property. An added bonus to this dairy are the ten homes and two office trailers that are on this property. The property is serviced by rural water and a well for backup. The 103 acres M/L offers pasture and tillable land.

Included: Hyd. working chute, All items present on the day of closing.

Not included: 2019 Crops, LP tanks, All personal property of tenants.

Tract #3 - Real Estate Taxes

Part of Parcels #040-6-17-017-000-000, #040-6-17-015-000-000, #040-6-17-014-000-000, #040-6-17-013-000-000, #040-6-17-012-000-000

Gross $4,867.51

Ag Cr. ($59.61)

Family Farm Cr. ($41.58)

Net $4,768.00 Approx.

Tract #4: Cattle Setup on 35 Acres M/L Subject to final survey

Located at 1405 576th Avenue, Lovilia, IA

This cattle setup has a 106x330 free stall barn and a 64x200 pole frame machine shed. Other buildings include a 80x60 and a 42x60 cattle shed. Approximate grain storage includes 11,000 bu. grain bin & (2) 6,000 bu. grain bins, 3,000 bu. grain bin and a 500 ton concrete silo. There is a bunker mixing area beside the silo with a loading dock. This property also has a 1,920 sq.ft. home with a detached garage. The property is serviced by rural water and a well for backup.

Included: All items present on the day of closing.

Not included: LP tank, All personal property of tenants.

Tract #4 - Real Estate Taxes

Part of Parcels #040-8-28-002-000-000, #040-8-28-009-000-000, #040-8-28-003-000-000, 040-8-28-012-000-000

Gross $2,182.90

Homestead Cr. ($155.19)

Ag Cr. ($17.03)

Family Farm Cr. ($11.88)

Net $2,000.00 Approx.

Terms on Tracts #2-4

Terms: 10% down payment on August 8, 2019. Balance due at closing with a projected date of September 20, 2019, upon delivery of merchantable abstract and deed and all objections have been met.

Possession: Projected date of September 20, 2019. (Subject to tenants 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.

Special Provisions on All Tracts:

~ This is a 5% buyers premium auction. This means the buyers premium in the amount of five percent (5%) of the bid amount shall be charged to the Buyer and added to the bid amount to arrive at the total contract purchase price.

~ The tillable ground is rented for the 2019 farming season. It shall be the obligation of the buyer to serve termination to the tenant, prior to September 1, 2019, if so desired.

~ It shall be the obligation of the buyer to report to the appropriate 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. Final tillable acres will be determined by the appropriate County FSA office.

~ It shall be the buyers responsibility and expense to inspect, repair and/or update, if needed, the home & office septic systems and acquire the DNR Time of Transfer certificate for the home & office septic systems. This shall be done prior to closing.

~ The seller shall not be obligated to furnish a survey on Tracts #1 & 2. Tracts #3 & 4 will be surveyed by a licensed surveyor.

~ This auction sale is not contingent upon Buyers 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 shall be responsible for any fencing in accordance with state law.

~ 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 they have carefully and thoroughly inspected the real estate and are 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 real estate.

~ Steffes Group, Inc. is representing the Seller.

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

Owners: Etcher Family Farms, LLC & Etcher Farms, Inc.

Tom Flynn Attorney for Seller

For details contact auction manager Nate Larson of Steffes Group, 319.385.2000 or by cell, 319.931.3944