170th Street, Argyle, IA 52619 - Lee County

Lee County Land Auction

Argyle, Iowa

Located 1 mile west of Argyle on 295th Street, then 1 /2 mile north on 170th Avenue. (1 mile west of The Avenue of the Saints)

Auction held onsite.

Wednesday, May 23, 2012 at 10:02 A.M.

Land Preview on Wednesday, May 9th from 10-11AM

** Buyer receives 50% of the Crop!

Tillable Farmland & Timber Ground with Ponds & Buildings!!

292 Acres M/L Sells in Two Tracts Subject to final survey

Tract #1 142 Acres M/L Tillable Farmland (subject to final survey)

FSA information:

Approximately 131 acres tillable of which 8 acres are in CRP at $116.61 per acre, expires 9/30/2016

CSR rating of 60 on entire farm

Tract #2 150 Acres M/L Timber Ground with Tillable farmland, 2 Ponds & Buildings Borders Shimek State Forest (subject to final survey)

Timber ground with income! This tract has excellent cover for wildlife with approximately 108 acres of timber that borders Shimek State Forest. Two ponds! Tillable land provides places for habitat and food plots. This tract also features a 40x60 building, two older outbuildings, grain bin and silo. Potential building spots for your home or getaway cabin.

FSA information:

Approximately 31 acres tillable of which 20 acres are in CRP at $116.61 per acre, expires 9/30/2016.

CSR rating of 29.3 on entire farm

Information on entire farm:

Located in Sections 6 & 7, Des Moines Township, Lee County, Iowa

126 bushel corn yield and 89.3 acre corn base

29 bushel bean yield and 45.2 acre bean base

38 bushel wheat yield and .1 acre wheat base

TERMS: 20% down payment on May 23, 2012. Balance to be paid on or before June 22, 2012 upon delivery of merchantable abstract and deed.

POSSESSION: June 22, 2012 (Subject to tenants rights. Buyer(s) will receive 50% of the 2012 crop)

REAL ESTATE TAXES: Seller will be responsible for all real estate taxes through December 31, 2011. Buyer will be responsible for all real estate taxes thereafter.

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

Tract #1

Gross - $2,935.34

Ag Cr - $110.91

Net - $2,824.00 (rounded)

Tract #2

Gross - $722.73

Ag Cr - $18.56

Net - $704.00 (rounded)