Friday, July 19, 2024 at 10:00 AM

DESCRIPTION: 292 acres m/l to be offered in two individual tracts at auction on Friday, July 19th, 2024, at 10:00 A.M. Tract #1 consists of 141 acres m/l, of which there are 137 taxable acres m/l and 130 cropland acres m/l. This tract has 2 wind turbines and a radio tower for additional income. Tract #2 consists of 151 acres m/l with 149 taxable acres m/l and 142 cropland acres m/l. This tract has a wind turbine for additional income. Tract #1 has an average CSR2 of 88 and Tract #2 has an average CSR2 of 85.8, with the county average CSR2 being 79.4. DIRECTIONS: From Iowa Falls, Iowa, go north on State Highway #65/#20 and then east on Hwy. #65/#20 to the junction where Hwy. #65 goes north, then continue north on Hwy. #65 for 2.5 miles. Tracts #1 & #2 are located on the east side of Highway #65 and south of 50th Street. Please watch for real estate signs. TRACT #1-141 Acres M/L LEGAL DESCRIPTION: (141 Acres M/L) The Northeast Quarter (NE1/4) of Section Twenty-two (22), Township Ninety (90) North, Range Twenty (20), West of the 5th P.M., Franklin County, Iowa, Except all that part of the SW1/4 NE1/4 lying west of the drainage ditch. Please refer to abstract for the exact legal description. FARM PROGRAM INFORMATION: Cropland: 130 acres (Est) Corn Base: 70 acres PLC Yield: 172 bu. Bean Base: 60 acres PLC Yield: 48 bu. This tract has approximately 8.87 acres of CRP bid in at $300/acre until 2031. This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time. PROPERTY TAXES: $4,800/year (Est). Property taxes will be prorated to date of closing. IMPROVEMENTS: This property has two wind turbines and a radio tower. The two wind turbines pay an estimated $5,500/each per year with the radio tower providing an estimated $5,500/year. They are located on the property with easements. All payments made in 2024 are to be retained by the seller. Residence and Outbuildings: The property has an older 2-story home with 4 bedrooms and a full bath, all in fair condition. There are some older outbuildings, such as grain bins and machine storage, also in fair condition. The balance of the farm is unimproved except for field drainage tile and perimeter fence. TRACTS #1 & #2-FARM LEASE: Sellers are to retain all of the 2024 cash rent due for 2024. Contact the auctioneer for details. The lease for 2025 has been terminated. TRACT #2-151 Acres M/L LEGAL DESCRIPTION: (151 Acres M/L) Northwest Quarter (NW1/4); all that part of the SW1/4 NE1/4 lying south and west of the drainage ditch, Except a parcel located in the NE1/4 NW1/4 described as follows: Commencing at the NW corner of the NW1/4, thence East 1479.19’ to the point of beginning, thence East 100’, South 140’, West 100’, North 140’ to the point of beginning, all in Section Twenty-two (22), Township Ninety (90) North, Range Twenty (20), West of the 5th P.M., Franklin County, Iowa. Please refer to the abstract for exact legal description FARM PROGRAM INFORMATION: Cropland: 142 acres (Est) Corn Base: 79 acres PLC Yield: 172 bu. Bean Base: 63 acres PLC Yield: 48 bu. This tract has approximately 9.78 acres of CRP bid in at $300/acre until 2031. This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time. PROPERTY TAXES: $5,200/year (Est). Property taxes will be prorated to date of closing. IMPROVEMENTS: This property has a wind turbine with an easement. This wind turbine pays an estimated $5,500/year. All payments made in 2024 are to be retained by the seller. The balance of the farm is unimproved except for field drainage tile and perimeter fence.