600 South Oak Street, Winfield, IA 52659 - Henry County

Henry County LAND AUCTION

WINFIELD, IOWA

From the south edge of Winfield proceed mile east on 130th Street then north on South Oak Street.

THURSDAY, DECEMBER 29, 2011 AT 10:02 A.M.

29.12 Acres M/L In The City Limits of Winfield

FSA Information:

Approx 28.1 acres tillable of which 1.9 acres are in CRP at $84.20 per acre and expires on 9/30/2018.

125 bushel corn yield and a 13.2 acre corn base.

35 bushel bean yield and a 9.8 acre bean base.

Corn suitability rating on entire farm is 61.3

Majority soils are Ladoga & Colo.

Located in Section 16, Scott Township, Henry County, Iowa

Located within the city limits of Winfield, Iowa.

TERMS: 20% down payment on December 29, 2011. Balance to be paid on or before January 30, 2012 upon delivery of merchantable abstract and deed.

POSSESSION: January 30, 2012.

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.

Gross Taxes: $425.17

Ag Land Credit: $12.26

Net Taxes: $412.00

Special Provisions:

~ Buyer will pay Remco Farm Partnership chiseling of 22 acres at $17.00 per acre, which is $374.00 and will be paid at closing.

~ It shall be the obligation of the buyer to report to the Henry County FSA office and show filed deed in order to receive the following if applicable:

Allotted base acres. B) Any future government programs. C) Prorate of CRP

1.9 acres in CRP at $84.20 per acre and expires on 9/30/2018.

~ 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.

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

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

Owners: Kay Timmerman, Carol Bartekoske, Linda Bunker & Wanda McCauley

James Becker - Attorney