Rome, IA 52642 - Henry County

HENRY COUNTY LAND AUCTION

ROME, IOWA

Land is located 1 mile north of Rome, Iowa. Or from Mt. Pleasant, from the intersection of Old Highway 34 & Franklin Avenue/W55, proceed 3 miles west.

Auction to be held at the Steffes Auction Pavilion, 605 East Winfield Avenue, Mt. Pleasant.

THURSDAY, MAY 22, 2014 AT 10:00 A.M.

231.52 Surveyed ACRES SELLS IN THREE TRACTS

Land Preview on Thursday, May 8th from 10-11am

TRACT #1 40.54 Surveyed Acres

FSA information: 40.07 acres tillable of which 4.9 acres are in CRP as follows:

4.1 acres at $216.44 = $887 and expires on 9-30-2023.

0.8 acres at $254.40 = $204 and expires on 9-30-2023.

115 bushel corn yield and a 35.1 acre corn base.

Corn Suitability Rating 2 of 75.4 on the entire tract.

Located in Section 32, Trenton Township, Henry County, Iowa.

TRACT #2 52.08 Surveyed Acres

FSA information: 47.73 acres tillable.

117 bushel corn yield and a 43.30 acre corn base.

31 bushel bean yield and a 4.40 acre bean base.

Corn Suitability Rating 2 of 76.8 on the entire tract.

Located in Sections 32 & 33, Trenton Township, Henry County, Iowa.

TRACT #3 138.9 Surveyed Acres

FSA information: 120.08 acres tillable of which 54.1 are in CRP as follows:

34 acres at $107.55 = $3,657 and expires on 9-30-2014.

10.6 acres at $155.52 = $1,649 and expires on 9-30-2014.

9.5 acres at $191.03 = $1,815 and expires on 9-30-2023.

Balance being timber and this tract borders the Skunk River!

118 bushel corn yield and a 57.30 acre corn base.

29 bushel bean yield and a 8.80 acre bean base.

Corn Suitability Rating 2 on the tillable of 71.6 and 66.8 on the entire tract.

Located in Sections 28 & 33, Trenton Township, Henry County, Iowa.

Income Producing Farms!

Buyer to Receive Balance of Cash Rent

Terms: 20% down payment on May 22, 2014. Balance at closing with projected date of June 30, 2014 upon delivery of merchantable abstract and deed and all objections have been met.

Possession: Projected date of June 30, 2014 (Subject to tenants rights)

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.

Tract #1

Gross $840.59

Ag. Credit (35.45)

Net $806.00 (Rounded)

Tract #2

Gross $1,066.27

Ag. Credit (44.96)

Net $1,022.00 (Rounded)

Tract #3

Gross $1888.39

Ag. Credit (79.62)

Net $1808.00 (Rounded)

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

Special Provisions:

Tracts #1, #2 & #3 are selling subject to tenants rights and are rented for the 2014 crop year as follows:

Tract #1

Of Tract #1, 35.17 acres are cash rented. The buyer will receive the balance of the cash rent of $4,396, due October 1, 2014 and will be paid by the tenant to the buyer.

Tract #2

Of Tract #2, 47.73 acres are cash rented. The buyer will receive the balance of the cash rent of $5,966, due October 1, 2014 and will be paid by the tenant to the buyer.

Tract #3

Of Tract #3, 66.03 acres are cashed rented. The buyer will receive the balance of the cash rent of $8,253, due October 1, 2014 and will be paid by the tenant to the buyer.

It shall be the obligation of the buyer(s) to serve termination to the tenants, prior to September 1, 2014, if so desired.

It shall be the obligation of the buyer(s) to report to the Henry 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. C. Prorate of CRP.

CRP payment on Tract #1 as follows:

4.1 acres at $216.44 = $887 and expires on 9-30-2023.

0.8 acres at $254.40 = $204 and expires on 9-30-2023.

CRP payment on Tract #3 as follows:

34 acres at $107.55 = $3,657 and expires on 9-30-2014.

10.6 acres at $155.52 = $1,649 and expires on 9-30-2014.

9.5 acres at $191.03 = $1,815 and expires on 9-30-2023.

Buyer(s) agree to follow all requirements of conservation plans and practices required by the FSA to maintain eligibility in the Conservation Reserve Program. Buyer(s) agree to accept responsibility and liability for any actions by the buyer which would endanger eligibility for the CRP or actions that would require repayment of the CRP payment or payments. Buyer(s) further agree to indemnify and hold harmless the sellers/tenant for any recovery sought by the FSA due to actions of buyer, which would violate the requirements of the CRP. In the event the buyer(s) elects to take the ground out of CRP, the buyer(s) will be responsible to the seller/tenant for any prorate of the CRP payment that the seller/tenant would have received.

All Tracts have been surveyed by a registered land surveyor and surveyed acres will be the multiplier for each tract.

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).

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)

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: Robert A. Miller & Webel Farms 1, LLC

Philip D. McCormick Attorney