295th & 180th, Sigourney, IA 52563 - Keokuk County

LARGE Keokuk County LAND AUCTION

SIGOURNEY, IOWA

7 miles south of Sigourney on Hwy 149 then 2 miles west on 295th Street to the intersection of 295th & 180th Street.

WEDNESDAY, OCTOBER 24, 2012 AT 1:02 PM

Preview on Wednesday, October 10th from 1-2 pm

** All tracts will be sold choice with the privilege - The high bidder may choose one, some or all of the Tracts.**

350 ACRES, M/L SELLING IN 5 TRACTS! (Subject to final Survey)

INCOME PRODUCING TILLABLE AND CRP GROUND WITH PLENTY OF TIMBER FOR HUNTING!

Tract #1: 132 Acres, M/L (Subject to final Survey)

FSA Information: 126.11 acres tillable of which 7.7 acres are in CRP at $121.00 per acre = $931.70, expires 9/30/16 and 15.2 acres are in CRP at $177.79 per acre = $2702.40, expires 9/30/20.

CSR 64.8 on tillable and 63.4 on entire farm

Located in Section 4, Steady Run Township, Keokuk County, Iowa

Tract #2: 40 Acres, M/L (Subject to final Survey)

FSA Information: Approx. 40 acres tillable of which 5.8 acres are in CRP at $177.79 per acre = $1031.18, expires 9/30/20

CSR 69.6 on entire farm

Located in Section 4, Steady Run Township, Keokuk County, Iowa

Tract #3: 18 Acres, M/L (Subject to final Survey)

FSA Information: 7.21 acres tillable of which .7 acres are in CRP at $121.00 per acre = $84.70, expires 9/30/16 and 6.5 acres are in CRP at $177.79 per acre = $1155.63, expires 9/30/20

CSR 50.5 on tillable and 39.8 on entire farm

Located in Sections 4 & 5, Steady Run Township, Keokuk County, Iowa

Tract #4: 93 Acres, M/L (Subject to final Survey)

FSA Information: 42.73 acres tillable of which 7 acres are in CRP at $121.00 per acre = $847.00, expires 9/30/16 and 8.9 acres are in CRP at $177.79 = $1582.33, expires 9/30/20.

CSR 60.1 on tillable and 38.8 on entire farm

Located in Section 5, Steady Run Township, Keokuk County, Iowa

Tract #5: 68 Acres, M/L (Subject to final Survey)

FSA Information: 33.18 acres tillable of which 6.6 acres are in CRP at $121.00 per acre = $798.60, expires 9/30/16 and 10.7 acres are in CRP at $177.79 per acre = $1902.35, expires 9/30/20.

CSR 57.1 on tillable and 40.9 on entire farm

Located in Section 8, Steady Run Township, Keokuk County, Iowa

General Information on Entire Farm:

92 bushel corn yield with a 145 acre corn base

27 bushel bean yield with a 61.5 acre bean base

(Bushels & Yields are combined with other land that is not being sold)

TERMS: 20% down payment on October 24, 2012. Balance to be paid on or before November 20, 2012 upon delivery of merchantable abstract and deed.

POSSESSION: November 20, 2012

REAL ESTATE TAXES: To be prorated to date of possession on the basis of the last available tax statement. Seller shall pay any real estate taxes payable in prior years.

The following taxes are approximate.

Tract #1

Gross: $3,014.02

Ag. Cr: $192.65

Net: $2,822.00

Tract #2

Gross: $1,051.89

Ag. Cr: $69.17

Net: $982.00

Tract #3

Gross: $227.74

Ag. Cr: $15.47

Net: $212.00

Tract #4

Gross: $1,037.26

Ag. Cr: $56.49

Net: $981.00

Tract #5

Gross: $806.18

Ag. Cr: $44.95

Net: $760.00

*** Income Producing Combination Farm that provides excellent habitat for deer, turkey and more!***

SPECIAL PROVISIONS

Termination has been served to the tenant. Buyer(s) will have 2013 farming rights.

Final tillable, base, and CRP acres will be determined by FSA.

It shall be the obligation of the buyer(s) to report to the Keokuk County FSA office and show filed deeds in order to receive the following if applicable:

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

CRP will be prorated from the following:

Tract #1:

7.7 acres x $121.00 per acre = $931.70, expires 9/30/16

15.2 acres x $177.79 per acre = $2702.40, expires 9/30/20

Tract #2:

5.8 acres x $177.79 per acre = $1031.18, expires 9/30/20

Tract #3:

.7 acres x $121.00 per acre = $84.70, expires 9/30/16

6.5 acres x $177.79 per acre = $1155.63, expires 9/30/20

Tract #4:

7 acres x $121.00 per acre = $847.00, expires 9/30/16

8.9 acres x $177.79 = $1582.33, expires 9/30/20

Tract #5:

6.6 acres x $121.00 per acre = $798.60, expires 9/30/16

10.7 acres x $177.79 per acre = $1902.35, expires 9/30/20

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.

There will be an easement for the purpose of ingress and egress for Tract #2.

All tracts will be surveyed by a registered land surveyor.

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).

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 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: LTY Farm Adventures, LLC

Dell A. Richard - Attorney