Iowa Highway 224 E , Kellogg, IA 50135(Jasper County)

The farmland is located North of Kellogg, Iowa on the northwest corner of where Iowa Highway 224 & E 100th Street N intersect, with paved access from the south. Situated in Section 14 of Mariposa Township, this highly tillable farm includes 151.55 FSA cropland acres with an average CSR2 soil rating of 83.3, compared to the Jasper County, Iowa average CSR2 soil rating of 68. The primary soil types include Tama silty clay loam, Muscatine silty clay loam, and Kilduff silty clay loam. A wetland determination was completed in 1994 that concluded there are no wetlands on the farm, meaning tile can be added by the buyer to further improve drainage. *Buyer should contact NRCS to conduct their own due diligence related to adding drainage tile to the farm or contact the listing agent with questions.* The farm is leased for the 2024 farm season to a local farm operator. The Winning Bidder/Buyer will receive a total of $23,250 or half of the 2024 cash rent amount payable at Closing. The farm lease will be terminated prior to Closing and the farming rights will be made available for the 2025 farm year.

This gently rolling farm has great natural drainage as water flows to the north and the west. Located in a strong farming community with great access to several competing grain markets including both grain elevators and ethanol plants, this highly tillable tract of farmland would make for a great add-on unit to an existing farm operation or an investment-grade quality land purchase. Additionally, the property consists of two grain bins built in the 1970s, each with a capacity of approximately 4,200 bushels, as well as three older outbuildings located in the south-central part of the tract. The buildings will be sold "as is - where is and the Buyer should be aware that personal items or debris will potentially remain on the property and become the property and responsibility of the Buyer.

The tract will be sold using the traditional auction method. The auction will be held at 10:00 a.m. CST on Wednesday, June 5th, 2024, at the Newton Arboretum in Newton, Iowa. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available.

Auction Details

Jasper County, Iowa Land Auction

160 Acres M/L

Wednesday, June 5th, 2024 at 10:00 AM

Seller: Darlene M. Prashak Revocable Trust

Auction Location:

Newton Arboretum

3000 North 4th Avenue E.

Newton, Iowa 50208

Online Bidding: Register to bid 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: Property will be offered as one individual tract. All bids will be on a price per acre basis. 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 Jasper 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 Jasper 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 Tuesday, July 23rd, 2024. The balance of the purchase price will be payable at closing in the form of cash, guaranteed check, or wire transfer.

Possession: Possession of the land will be given At Closing, Subject to Tenant's Rights.

Farm Lease: The farm is leased for the 2024 crop year, half of the 2024 cash rent will be given to the new Buyer(s) at closing. Contact the listing agent for more details.

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: No additional surveying or staking will be provided by the Seller.

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 abstract.