Watercress Blvd, Lockridge, IA 52635 - Jefferson County

Jefferson County Land Auction

Lockridge, Iowa

Located 1/2 mile north of Lockridge on Wintergreen Avenue then 1/4 mile east on Watercress Blvd.

Tuesday, May 22, 2012 at 4:02 P.M.

Showing on Tuesday, May 8th from 4-5pm

Selling Choice with the Privilege. High bidder may take Tract #1 or Tract #2 or both tracts!

52.25 Acres M/L Sells in Two Tracts

Tract #1 19.17 Acres M/L

Approx. 9.24 acres tillable all of which is in CRP at $75.00 per acre, expires 9/30/12

Balance is timber

Located in Section 35, Lockridge Township, Jefferson County, Iowa.

Tract #2 33.08 Acres M/L

Approx. 19.45 acres tillable all of which is in CRP at $75.00 per acre, expires 9/30/12

Balance is timber

Located in Section 35, Lockridge Township, Jefferson County, Iowa.

Nice building sites!

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

POSSESSION: June 22, 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 at closing.

Tract #1

Gross $118.20

Ag Cr - $5.27

Family Farm - $4.94

Net - $108.00 (rounded)

Tract #2

Gross $256.71

Ag Cr - $9.62

Family Farm - $9.01

Net - $238.00 (rounded)

Special Provisions:

All tillable and CRP acres to be finalized by FSA and will be prorated as follows:

Tract #1: Approx. 9.24 acres tillable all of which is in CRP at $75.00 per acre = $693.00 and expires 9/30/12

Tract #2: Approx. 19.45 acres tillable all of which is in CRP at $75.00 per acre = $1458.75 and expires 9/30/12

The CRP contract will expire on 9/30/2012 and has not been extended.

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

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

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 land has been 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.

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 of record, 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.

Larry & Regina Allen

Rande A. McAllister Attorney