Land Auction - 215.16 Acres offered in 2 Tracts in Monona County, Iowa

LAND AUCTION

215.16 Acres +/- Monona County, IA. Offered in 2 Individual Tracts

Saturday, September 8, 2012 ~ 10:00 A.M.

Sale Site: Onawa Community Center, 320 – 10th Street, Onawa, Iowa. Watch for Sign.

• Productive Tillable Farmland • 1031 Exchange Opportunity • Nearby Grain Market • Near Paved Roads •

PROPERTY LOCATION

Tract 1: Address: Lat: 42.084051 Lng: -96.189122 - From Onawa go North on 10th Street 0.9 miles, turn left onto Co Hwy K42 and drive 7.5 miles, turn right onto 190th Street and drive 0.3 miles, at this point you are located at the SW corner with land to the North.

Tract 2: Address: Lat: 42.083891 Lng: -96.173844 – From Onawa go North on 10th Street 0.9 miles, turn left onto Co Hwy K42 and drive 7.5 miles, turn right onto 190th Street and drive 1.1 miles, at this point you are located at the SW corner with land to the North and location of Home. 19054 – 190th Street.

LEGAL DESCRIPTIONS

Tract 1: THE SOUTHEAST QUARTER SOUTHWEST QUARTER (SE1/4 SW1/4) AND THE SOUTH HALF NORTHEAST QUARTER SOUTHWEST QUARTER (S1/2 NE1/4 SW1/4) SECTION 15 IN TOWNSHIP 84, RANGE 46 WEST OF THE 5TH P.M., MONONA COUNTY, IOWA.

Tract 2: THE SOUTHWEST QUARTER (SW1/4) OF SECTION 14 IN TOWNSHIP 84, RANGE 46 WEST OF THE 5TH P.M., MONONA COUNTY, IOWA.

TRACT DESCRIPTIONS

Tract 1: 59± ac. Prime productive bottom land. FSA Information (Farm No. 5541 Tract No. 1691 Sec 15 Lincoln 84N 46W): Farmland – 60.0, Cropland – 59.5, Corn Base – 28.0, DP & CC Yield - 97/97 bushels/acre , Soybean Base – 25.7, DP & CC Yield - 29/29 bushels/acre. Soils: primarily Lossing silty clay and Blake silty clay loam. CSR: Weighted Average - 63. Annual Net Taxes: $1,278

Tract 2: 156.16± ac. Productive bottom land. Includes Residential dwelling - 2 story home built in 1907 & 16 x 30 Dyer Bin built in 1973 - (The Home and Land associated SELLS AS IS with NO WARRANTY Implied). FSA Information (Farm No. 5541 Tract No. 8782 Sec 14 Lincoln 84N 46W): Farmland – 165.0, Cropland – 150.9, Corn Base – 81.0, DP & CC Yield - 97/97 bushels/acre , Soybean Base – 48.4, DP & CC Yield - 29/29 bushels/acre. Soils: primarily Lossing silty clay, Forney silty clay, Albaton silty clay, and Onawa silty clay. CSR: Weighted Average – 61.3. Annual Net Taxes: $3,504. Annual Drainage Tax: $238

AUCTION TERMS & CONDITIONS:

PROCEDURE: The property will be offered as 2 individual Tracts. Prospective Buyers will have the opportunity to purchase one (1) or both tracts if they are the highest bidders. The sale price will be determined by taking taxable acres times the final price bid per acre.

DOWN PAYMENT: 10% down payment on the day of the auction with the balance in cash or certified funds at closing. The down payment may be made in the form of cash, cashier's check, personal check or corporate check. Your bidding is not conditioned upon financing, so be sure you have arranged financing, if needed, and are capable of paying cash or certified funds at closing.

ACCEPTANCE OF BID PRICES: The successful bidder will sign a purchase agreement at the auction site immediately following the close of bidding. The final bid price is subject to the Seller’s approval. Such approval shall occur at the auction on auction day.

CLOSING: Closing shall occur on or before December 3, 2012, and in accord with the specific terms of the Agreement to Purchase. Possession shall be given at closing, subject to the remaining rights of the current tenant(s) for crop year 2012. Buyer will have Full possession of the crop land for the 2013 crop year. CRP Contract ends Oct 1st, 2012. Real Estate Taxes will be prorated to 12/31/2012. The closing will be handled by Gaukel Nevins, & Westergaard, P.C. - James Gaukel Attorney – 515 Main, Mapleton, Iowa 51034 Ph: 712-881-2321 or email: jim_gnw@yahoo.com

TITLE: Sellers are the sole owners fee simple of the property.

EASEMENTS AND LEASES: Sale of said property is subject to any and all easements of record and any and all leases.

MINERAL RIGHTS: The sale of the property shall include all mineral rights owned by the Sellers, if any.

AGENCY: McCall Auctions & Real Estate and its representatives are exclusive agents of the Sellers.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and any related materials are subject to the terms and conditions outlined in the Agreement to Purchase. ANNOUNCEMENTS MADE BY THE AUCTIONEER AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE. STATEMENTS, PROMISES, OR INDUCEMENTS MADE AT THE AUCTION THAT ARE NOT CONTAINED IN THE WRITTEN AGREEMENT TO PURCHASE SHALL NOT BE VALID AND BINDING. The properties are being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either express or implied, concerning the property is made by the Sellers or the auction company. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this advertising is believed to be accurate but is subject to verification by all parties relying on it. No liability for its accuracy, errors or omissions is assumed by the Sellers or the Auction Company. All sketches and dimensions in this brochure are approximate. All acreages are approximate and have been estimated based on legal descriptions or aerial photographs. Conduct at the auction and increments of bidding are at the direction and discretion of the auctioneer. The Sellers and Auction Company reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc. All decisions of the Auctioneer and Sellers' at the auction are final.

AUCTION COMPANY AND SELLERS ARE NOT RESPONSIBLE FOR ACCIDENTS.

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NEW DATA, CORRECTIONS AND CHANGES: Please arrive prior to scheduled auction time to inspect any changes, corrections, or additions to the property information.

NOTE: Videotaping, flash photography, and/or public announcements will be allowed on auction day ONLY with prior approval from McCall Auctions & Real Estate.

SELLERS: Magnus George Craford & Carol Bernice Craford Revocable Trust, Dated 10/11/90 and Roseanne C. Kane Trust u/a April 26, 2005

James Gaukel, Attorney

Contact Russ McCall for further information Ph: 712-423-1901

For Complete Details, Photos, and Maps Log Onto: archive.mccallauctions.com

Auction Conducted By:

McCall Auctions and Real Estate

706 Iowa Avenue

Onawa, IA

712-423-1901

Russ and Brent McCall, Auctioneers

Loretta McCall and Andrea Meyer, Clerks