335th Street, Salem, IA 52649 - Henry County

HENRY COUNTY LAND AUCTION

SALEM, IOWA

Land is located 10 miles south of Mt. Pleasant on Highway 27/218, then east on 335th Street. Land is located at the northeast corner of the intersection of Highway 27/218 & 335th Street.

Auction to be held at the Steffes Auction Pavilion, 605 East Winfield Avenue, Mt. Pleasant, IA

TUESDAY, JUNE 30, 2015 AT 10:00 A.M.

149.5 Acres M/L SELLS IN TWO TRACTS (Subject to final survey)

Selling Choice with the privilege.

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

TRACT #1 75 Acres M/L Subject to final survey

FSA information: 74.14 acres tillable

Corn Suitability Rating 2 of 76.8 on the entire tract.

Located in Section 33, Jackson Township, Henry County, Iowa.

TRACT #2 74.5 Acres M/L Subject to final survey

FSA information: approx.. 69.62 acres tillable

Corn Suitability Rating 2 of 72.4 on the entire tract.

Located in Section 33, Jackson Township, Henry County, Iowa.

Buyer to Receive Balance of Rent Payment ! !

An Opportunity To Buy Excellent Tillable Ground

Terms: 20% down payment on June 30, 2015. Balance at closing with projected date of August 14, 2015 upon delivery of merchantable abstract and deed and all objections have been met.

Possession: Projected date of August 14, 2015. (Subject to tenants 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.

The following taxes are approximate and will be used to prorate at closing.

Tract #1

Gross $2,356.25

Ag. Credit ($109.15)

Net $2,248.00 (Rounded)

Tract #2

Gross $1,925.82

Ag. Credit ($91.41)

Net $1,834.00 (Estimated due to splitting of home not selling)

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

Special Provisions:

It shall be the obligation of the buyer(s) to serve termination to the tenant, prior to September 1, 2015, if so desired.

Tracts #1 & #2 are selling subject to tenants rights and are rented for the 2015 crop year as follows:

Tract #1

The buyer will receive the balance of the cash rent of $8,340.75, due November 1, 2015 and will be paid by the tenant to the buyer.

Tract #2

The buyer will receive the balance of the cash rent of $7,832.25, due November 1, 2015 and will be paid by the tenant to the buyer.

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

The buyer(s) 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(s).

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

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)

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.

Owners: James E. Winnike Estate, Nicholas Winnike & Mary Ballard

Patricia M. Winnike & Daniel J. Winnike Co-Executors

Christopher S. Wallace Attorney