20737 Highway 92 , Columbus Junction, IA 52738(Louisa County)

Auctioneers Note: The farm is selling Free and Clear for the 2016 farming season. This auction offers a unique opportunity as the tillable land has not been in production for approx.. 5 years and the home has not been lived in since 2007. This auction is selling by Court Order and will be transferred by Court Officers Deed or Deeds.

TRACT #1 122 Acres M/L Subject to final survey

This farm is located off of Highway 92 and has an easement from Tract #4 for use of the lane for ingress and egress to the tillable land.

FSA information: Approx. 103.77 NHEL acres tillable, balance being timber.

Corn Suitability Rating 2 of 45.9 (CSR 1 of 50.2) on the tillable.

Located in Section 28, Concord Township, Louisa County, Iowa.

TRACT #2 27.62 Acres M/L Subject to final survey

This farm has Highway 92 frontage and is located at the northwest corner of Highway 92 and 214th Avenue.

FSA information: 27.97 NHEL tillable acres.

Corn Suitability Rating 2 of 43.4 (CSR 1 of 35.3) on the tillable.

Located in Section 20, Concord Township, Louisa County, Iowa.

TRACT #3 27.53 Acres M/L Subject to final survey

This farm has Highway 92 frontage and is located at the northwest corner of Highway 92 and G40.

This property has great potential for recreational opportunities as the property has timber and Iowa River frontage.

FSA information: 11.88 NHEL acres tillable.

Corn Suitability Rating 2 of 64.3 (CSR 1 of 68.3) on the tillable.

Located in Section 20, Concord Township, Louisa County, Iowa.

TRACT #4 4 BEDROOM, RANCH STYLE HOME ON 3 ACRES M/L Subject to final survey

Home is located at 20737 Highway 92, Columbus Junction.

Please note: This home has not been lived in since 2007 and maintenance of the home has lapsed and will be sold in its as is condition. This is a handymans special and needs attention to bring the home back to its former glory days.

This 4 bedroom home has 1,758 sq. ft. of living space and was built in 1955. The home features a large living room with hardwood floors, dining room with 2 built in corner cabinets, the kitchen has updated cabinets with refrigerator, gas stove, pantry closet & corner cabinet. Four bedrooms with hardwood floors. Main level bath with washer & dryer.

The home has an attached breezeway with an attached single car garage. Unfinished basement with hot water heat, central air, gas hot water heater, pot belly stove, 200 amp breaker box. Drilled well.

Many usable buildings to include: Approx. 30x50 machine shed with concrete floor, electricity & sliding doors; Corn crib/barn with open faced lean to with concrete feed lot; Large corn crib with barn addition & sliding doors; Small open sided barn with concrete and other smaller outbuildings. All located on 3 acres M/L, subject to final survey.

Included: Refrigerator, Gas stove, Washer, Dryer, Pot Belly stove, Safe in garage, 1,000 gal LP tank(needs new line to home)

Terms: 20% down payment on January 29, 2016. Balance at closing with a projected date of March 14, 2016 upon delivery of merchantable abstract and Court Officers deed and all objections have been met.

Possession: Projected date of March 14, 2016.

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 to prorate at closing.

Tracts #1 & #4 are combined, these are approximates:

Tract #1

Gross $2,209.37

Ag. Credit (129.37)

Net $2,080.00 (Approx.)

Tract #2

Gross $494.94

Ag. Credit (28.25)

Net $ 466.00(Rounded)

Tract #3

Gross $261.90

Ag. Credit (14.96)

Net $248.00 (Rounded)

Tract #4

Gross $1,662.74

Net $1,662.00 (Approx.)

Special Provisions:

All farms are being sold free and clear for the 2016 farming season.

Spring tillage rights shall be granted to buyers before said closing, if so desired.

It shall be the obligation of the buyer(s) to report to the Louisa County FSA office and show filed deed(s) in order to receive the following if applicable: A. Allotted base acres. B. Any future government programs.

All Tracts will be surveyed by a registered land surveyor and surveyed acres will be the multiplier for each tract, except Tract #4 the home will be sold lump sum price.

Tract #4 is exempt from the Time of Transfer Inspection of the septic, due to this being Court Ordered and a deed arising from a partition proceeding, Iowa Code 455B.172(11). Any future inspections, upgrades, repairs, maintenance or other matters to the septic systems will be at the buyer's expense in accordance with Louisa County & Iowa Laws & regulations.

Tract #4 will have an easement in favor of Tract #1, for the use of the lane for ingress and egress to the tillable land of Tract #1.

The buyer(s) shall be responsible for any fencing in accordance with Iowa state law.

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)

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).

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.

Any announcements made the day of sale take precedence over advertising.

Locally Known as The Reid Family Farm

Kirsten H. Frey & Roger A. Huddle Attorneys