2238 Salem Road, New London, IA 52645 - Henry County

Henry County Estate Land Auction

New London, Iowa

Located at 2238 Salem Road (5 miles east of Salem Stub on Salem Road)

Thursday, September 27, 2012 at 5:02 pm

Showing on Wednesday, September 12th from 5-6 pm

70.16 Acres M/L Sells in Two Tracts (subject to final survey)

Tract #1 Home and 2 Acres, M/L (subject to final survey)

1316 sq. ft. home built in 1965

Kitchen with gas stove, microwave and built in double oven

Dining area opens up to large living room

Three bedrooms and full bathroom with storage

Full unfinished basement with wood stove and shower

GFA furnace and central air

Attached two car garage

Concrete patio overlooking nice mature trees and flowerbeds

Rural water and well.

Mt. Pleasant School District

Tract #2 68 Acres, M/L (subject to final survey)

Nice open pasture ground with timber

36x50 steel building with lean to & concrete and a 24x36 shop building

Located in Section 30, Baltimore Township, Henry County, Iowa

Included Tract #1: Stove, microwave, wood stove

Not Included Tract #1: Washer, dryer, electric stove, refrigerator, LP tank, deep freeze, All personal property

Included Tract #2: All attached gates, waterers

Not Included Tract #2: Feeders, bunk

TERMS: 20% down payment on September 27, 2012 balance to be paid on or before October 25, 2012 upon delivery of merchantable abstract and deed.

POSSESSION: October 25, 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.

Tract #1

Gross - $1,279.78

Homestead - $90.35

Net - $1,189.00 (rounded)

Tract #2

Gross - $611.93

Ag. Lnd - $13.14

Net 599.00 (rounded)

Special Provisions:

Both 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 of Tract #2 shall be responsible for installing his/her own entrance.

There is a well & rural water on Tract #1 that is connected to 2 waterers on Tract #2, it shall be the buyer of Tract #2s responsibility for obtaining their own water.

The buyer of Tract #2 shall be responsible for installing their own electric if desired. (electric is currently hooked into Tract #1)

The buyer of Tract #1 shall be reimburse the seller for the remaining LP in the LP tank at the current rate on the day of closing.

It shall be the obligation of the buyer of Tract #1 to update the septic system according to the rules governing in Henry County. Buyer will be required to sign a Time of Transfer Inspection Waiver Binding Acknowledgement for Future Installation at time of closing of real estate. Buyer will be required to apply for a Disposal Installation Permit with the Henry County Sanitarian and agree to complete the work by the rules governing Henry County.

This real estate is selling subject to any and all covenants, restrictions, encroachments 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: Jack Thomas Estate & Bonnie Thomas

Jeff Thomas Attorney