3097 S Ave, Chelsea, IA 52215 - Tama County

Land Auction

September 16, 201110:05 am

206.3 gross acres m/l

Cibula Farm Auction

Sale held at:

Vining HallVining, Iowa

Farm Located: From Vining, Ia go 1 mile Nw on V18, and then 1/8 mile SW on 320th St.

Located in Sect 13 Otter Creek and Sect. 18 York Township, Tama County Iowa

Legal Description: Refer to abstract for actual legal description

FSA Information: Total Acres 206.3

145.95 acres of Tillable Corn Base: 34.3 acres

-111.7 ac. CRP

-34.25 ac currently farmed

(leased for 2011 crop year)

111.7 acres of CRP (expiration dates range from 9/30/2017 to 9/30/2018) contracts are available for

viewing, please contact agents to view. Annual payment is $15,922. Full Oct 1, 2012 payment goes to buyer

Estimated buyout (as of Aug 1, 2011) is $52,059.

Average CSR: 42.50 according to Tama County Assessor

Real Estate Taxes: Taxes to be prorated to day of closing. Taxes are $2250

Possession: At closing on November 1, 2011, subject to 2011 Cash Rent Lease. Buyer to receive Oct 1, 2012 CRP

payment. Full possession will be granted March 1, 2012

Method of Sale: This property will be offered at public auction as one parcel containing 206.36 acres. The bids will be dollars per acre and will be multiplied by 206.3 acres to determine the total sales price.

Terms: High bidder of real estate to pay 10% of purchase price to Appraisal & Real Estate Services trust account on September 16, 2011. Buyer will sign a Real Estate Sales Agreement providing for a full cash settlement on or before Nov 1, 2011 . Successful bidders are purchasing with no financing contingencies and must be prepared to make cash settlement of their purchase. Final settlement and payment of the balance of the purchase price to be by cashiers check or wire transfer at closing on Nov 1, 2011

Seller has every intension of selling this property at auction, but does reserve the right to reject any and all bids.

Announcements: Property information provided herein was obtained from sources deemed reliable, but the Auctioneer makes no guarantees as to its accuracy. All prospective bidders are urged to full inspect the property, its condition and to rely on their own conclusions. The property is being sold AS IS WHERE IS and the buyers are purchasing subject to any easements or restrictions of record. Any announcements made auction day by the Auctioneer will take precedence over any previous printed material or oral statements. Bidding increments are solely at the discretion of the Auctioneer. All acreage figures are based on information currently available, but they are not guaranteed.

Agency: Appraisal & Real Estate Services and their representatives are Agents of the Seller

Seller: Richard & Sheryl Cibula and Duane & Barbara Cibula

Agents Comment: This is a great opportunity to purchase large property with good income . Hunting potential is very high in this area. An estimated 16,000 board feet of Hardwood (Walnut, Red Oak and White Oak) timber ready to be harvested.