Buffalo Center, IA 50424(Winnebago County)

Iowa Land Company is honored to represent the Lensing Enterprises LLC farmland holdings land auction located in Winnebago County, Iowa. The farm consists of 320 +/- total gross acres located southwest 4.5 miles of Buffalo Center, Iowa. The farm will be offered at public auction on July 19th, 2022 at the Heritage Town Center in Buffalo Center, Iowa at 12:00pm. We will offer the farm as individual tracts on the day of sale. This is a great opportunity for local farmers to expand their current farming operation and gives farmland investors the ability to buy well taken care of farmland acres in an area where farmland offered to the public market is limited! Tract #1 located Section 12 of Grant Township and consists of 160 +/- acres, with 154.45 +/- acres considered cropland based on the FSA cropland Map. The CSR2 average is 78.4 on Tract #1, some tile is in place on the farmland. Tract #2 is located in Section 12 of Grant Township and consists of 160 +/- acres, with 154.45 +/- acres considered cropland acres. This farm consists of gently rolling farmland with tile in place where needed for good drainage. The CSR2 average is 65.3 on Tract #2. The farmland on both tracts are rented for the 2022 growing season and will be open for the 2023 growing season. Buyer will receive the second rent payment for the current cash rent agreement based on how many acres the buyer purchases based on the terms of the current lease. The per farmland acre rental rate for 2022 is $280.00. The second payment is 45.85% of the total rent. The total leased acres is 310 +/- acres. Tract #1 buyer will receive $19,900 paid from the current tenant on or before Oct 1, 2022. Tract #2 buyer will receive $19,900 paid from the current tenant on or before Oct 1, 2022.

Tract 1 160 +/- Acres

154.45 Cropland Acres

78.3 CSR2

PLC Yield

141 Corn

N/A

Base Acres

299.6 Corn Total Farm

N/A Soybeans

Tract 2 160 +/- Acres

154.45 +/- Cropland Acres

65.3 CSR2

PLC Yield

141

TBD

Base Acres

299.6 Corn Total Farm

N/A Soybeans

Auction Date: July 19th, 2022

Auction Time: 12:00 PM

Auction Location: Heritage Town Center

Auction Address: 201 2nd Ave. SW, Buffalo Center, Iowa

Sale Method: The farm will be sold as 2 tracts at live public auction

Farm Lease: Farm tillable ground is leased for the 2022 season. Buyer to receive second payment of cash rent on or before October 1st, 2022.

Survey: No survey will be provided.

Purchase Agreement: Immediately upon conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with the sellers attorney the required earnest money payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon Buyer obtaining financing.

Earnest Money: 10% earnest money payment is required on the day of the auction. All funds will be held in the sellers attorney trust account. Remaining balance will be due at closing.

Farm Possession: The farms are rented for the 2022 farming season. Buyer will receive full possession March 1, 2023.

Farm Closing: September 2nd, 2022.

FSA Information: Call Land Broker Matt Skinner or Land Broker/Auctioneer Luke Skinner for any FSA information questions prior to the auction. Note all FSA information is estimated to the best knowledge of the seller and Iowa Land Company. All information is subject to change. Farm will be subject to a new FSA conservation plan.

Mineral Rights: All mineral rights owned by the seller will convey to the buyer.

Bidder Registration: All active bidders must be registered prior to bidding on the farm. All bidders must have a bid card to bid on the farm. Call Land Broker Matt Skinner or Land Broker/Auctioneer Luke Skinner prior to the sale if you are unable to attend the sale but have an interest in the farm. We do have online bidding available. You must sign up for online bidding at least 24 hours before the sale unless special arrangements have been made with Iowa Land Company..

Terms and Conditions: This sale is subject to all easements, covenants, restrictions of record, and leases. Each Bidder is responsible for conducting, at their own risk, their own inspections, inquiries, and due diligence concerning the property. All property is sold AS IS-WHERE IS basis with no warranties or guarantees, either expressed or implied by the Seller or Iowa Land Company.

Announcements: Information provided herein was obtained from sources deemed reliable, but neither Iowa Land Company nor the Seller make any guarantees or warranties as to its accuracy. All potential bidders are urged to inspect the property, its condition, and to rely on their own conclusions. All sketches, dimensions, and acreage figures are approximate or more or less. Any announcements made auction day by Iowa Land Company will take precedence over any previously printed materials or oral statements. Iowa Land Company and Seller reserve the right to preclude any person from bidding if there are any questions as to the persons credentials or fitness to bid.