1555 Franklin Avenue, Trenton, IA 52654 - Henry County

HENRY COUNTY LAND AUCTION

TRENTON, IOWA

Located 1 mile north of Trenton on W55/Franklin Avenue or 4 miles south of Wayland, Iowa on W55/Franklin Ave. Auction will be held on site.

TUESDAY, SEPTEMBER 24, 2013 at 10:02 A.M.

157 Acres M/L Selling In Two Tracts (Subject to final survey)

CRP LAND - TILLABLE GROUND PASTURE GROUND

Selling Choice with the privilege.

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

LAND PREVIEW on Tuesday, September 10th from 10-11A.M.

TRACT #1 - 80 Acres M/L (Subject to final survey)

FSA information: 42.56 acres tillable of which 40.1 is in CRP as follows:

40.1 acres at $231.13 = $9,268(rounded) and expires on 9-30-2023

Balance of land is pasture.

This tract has two open front 36x80 pole barns and two silos. This tract also has a small creek running through the property and a windmill and well.

Corn suitability rating on the tillable of 61.2 and 50.5 on the entire farm.

Located in Section 34, Jefferson Township, Henry County, Iowa.

TRACT #2 - 77 Acres M/L (Subject to final survey)

FSA information: 50.66 acres tillable of which 39.8 is in CRP as follows:

39.8 acres at $231.13 = $9,199(rounded) and expires on 9-30-2023

Balance of land is pasture & timber with two ponds and older barn.

Corn suitability rating on the tillable of 62.6 and 56.7 on the entire farm.

Located in Section 34, Jefferson Township, Henry County, Iowa.

Information on entire farm:

109 bushel corn yield and a 13.3 acre corn base

Reserved: Farm machinery, All cattle equipment, feeders, etc.

Included: Windmill(Tract #1), exterior fencing.

TERMS & CONDITIONS

TERMS: 20% down payment on September 24, 2013. Balance at closing with projected date of October 24, 2013 upon delivery of merchantable abstract and deed.

POSSESSION: Projected date of October 24, 2013(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

Taxes on Tract #1:

Gross: $1023.36

Ag Credit: $63.47

Net: $960.00 (rounded)

Taxes on Tract #2:

Gross: $1279.55

Ag Credit: $84.91

Net: $1195.00

Special Provisions:

~ There will be a recorded easement through Tract #2 for the purpose of ingress and egress to the south of Tract #1.

~ There is an Ammonia pipeline easement on Tract #2.

~ There will be an easement established on Tract #2 for the owner of the home to maintain the current sewer lines to the north & south of the home.

~ 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)

~Buyer(s) will receive 100% of the new CRP payment.

~ It shall be the obligation of the buyer(s) 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.

~ Buyer(s) agrees to follow all requirements of conservation plans and practices required by the FSA to maintain eligibility in the Conservation Reserve Program. Buyer(s) agrees to accept responsibility and liability for any actions by the buyer(s) which would endanger eligibility for the CRP or actions that would require repayment of the CRP payment or payments. Buyer(s) 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(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. Enhanced seeding and 8 acres of wild flowers and any other requirements that need to be completed for compliance of the new contract will be the buyers expense & responsibility.

~ The seller has given notice to tenants on the tillable & pasture ground. Possession on the tillable and pasture ground will be March 1, 2014.

~ Both Tracts will be surveyed by a registered land surveyor and surveyed acres will be the multiplier.

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

~ 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).

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

Owner: Glen D. Buddy Nebel

Patrick Brau - Attorney