280th Street , Madrid, IA 50156(Boone County)

This 100% tillable farm will be offered as two individual tracts through the Buyers Choice Auction Method where the high bidder can elect to take one or both tracts. Both farmland tracts predominantly include clay loam soil types of Nicollet, Canisteo, and Clarion with CSR2 soil ratings exceeding the Boone County average CSR2 soil rating of 75. The farm has been operated by the same tenant for several years. The farm lease has been terminated and will be open for the 2024 crop year.

Tract 1: 89.21 Acres m/l with 89.2 FSA cropland acres and a CSR2 soil rating of 86.4.

Tract 2: 140 Acres m/l with 140.29 FSA cropland acres and a CSR2 soil rating of 85.3.

The farmland tracts have a convenient location between Ames, Boone, and Madrid, Iowa; and more specifically on gravel road 280th Street southeast of Luther, Iowa. Located in a strong farming community with great access to several competing grain markets including both grain elevators and ethanol plants, these highly-tillable tracts of farmland would make for a great add-on unit to an existing farm operation or investment-grade quality land purchase. Section 32 of Colfax Township.

County Drainage Tile:

The farmland tracts are located in three County Drainage Districts - Drainage District 17, Drainage District 90, and Drainage District 206. All of the County Drainage Tile located on this property is in Drainage District 90. The County Drainage Tile on the farm includes 6", 10", and 24" drainage tile mains which outlet water into an open ditch southeast of the farm in Section 4 of Garden Township.

See the attachment Tile Map or contact the Listing Agent for more details.

The farmland will be sold as two individual tracts using the Buyers Choice Auction Method, where the high bidder can take, in any order, any or all tracts for their high bid. The auction will be held at the Central Iowa Expo on Thursday, February 1st, 2024 in Boone, Iowa. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available.

Auction Details

Boone County, Iowa Land Auction

229.21 Acres M/L

Thursday, February 1st, 2024 at 10:00 AM

Seller: Safly Family

Representing Attorney: Jordan & Mahoney Law Firm PC Michael Mahoney in Boone, Iowa

Auction Location:

Central Iowa Expo

1827 217th Road

Boone, Iowa 50036

Online Bidding: Register to on our website. Potential bidders may have access to the live auction by utilizing Peoples Company's online auction platform via the Internet. By using Peoples Company's online auction platform, bidders acknowledge that the Internet is known to be unpredictable in performance and may, from time to time, impede access, become inoperative, or provide a slow connection to the online auction platform. Bidders agree that Peoples Company nor its affiliates, members, officers, shareholders, agents, or contractors are, in any way, responsible for any interference or connectivity issues the bidder may experience when utilizing the online auction platform.

Auction Method: The tracts will be offered via Public Auction and will take place at 10:00 AM at the Central Iowa Expo in Boone, Iowa. The farmland tracts will be sold on a per-acre basis through a traditional auction method. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available.

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number to bid at the auction. Peoples Company and its representatives are agents of the Seller. Winning bidder(s) acknowledge they are representing themselves in completing the auction sales transaction.

Farm Program Information: Farm Program Information is provided by the Boone County Farm Service Agency. The figures stated in the marketing material are the best estimates of the Seller and Peoples Company; however, Farm Program Information, base acres, total crop acres, conservation plan, etc. are subject to change when the farm is reconstituted by the Boone County FSA and NRCS offices.

Earnest Money Payment: A 10% earnest money payment is required on the day of the auction. The earnest money payment may be paid in the form of cash or check. All funds will be held in Peoples Companys Trust Account.

Closing: Closing will occur on or before Monday, March 18th, 2024. The balance of the purchase price will be payable at closing in the form of cash, guaranteed checks, or wire transfers.

Possession: Possession of the land will be given At Closing.

Farm Lease: The farm lease has been terminated and is open for the 2024 cropping season.

Contract & Title: Immediately upon the conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Peoples Company the required earnest money payment. The Seller will provide a current abstract at their expense. The sale is not contingent upon Buyer financing.

Fences: Existing fences, if any, are in as-is condition and will not be updated or replaced by the Sellers. Not all tract and boundary lines are fenced and if needed, will be the responsibility of the Buyer at closing. Existing fence lines may not fall directly on the legal boundary.

Surveys: If Tracts 1 & 2 are purchased separately, the boundary between the two tracts will be marked.

Other: This sale is subject to all easements, covenants, leases, and restrictions of record. All property is sold on an As is Where is basis with no warranties, expressed or implied, made by the Auctioneer, Peoples Company, or Seller. All bids will be on a per-acre basis. Peoples Company and its representatives are agents of the Seller. The winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made on auction day by the Auctioneer or Listing Agents will take precedence over all previous marketing material or oral statements. Bidding increments are at the sole discretion of the Auctioneer. No absentee or phone bids will be accepted at the auction without prior approval of the Auctioneer. All decisions of the Auctioneer are final.

Disclaimer: All field boundaries are presumed to be accurate according to the best available information and knowledge of the Seller and Peoples Company. Overall tract acres, tillable acres, etc. may vary from figures stated within the marketing material. Buyer should perform his/her investigation of the property before bidding at the auction. The brief legal descriptions in the marketing material should not be used in legal documents. Full legal descriptions will be taken from the abstract.