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TWO 80 ACRE TRACTS OF SWAN LAKE TOWNSHIP

POCAHONTAS COUNTY, IA FARMLAND AT

WEDNESDAY, MAY 7, 2008

SALE TIME - 10:30 AM

LOCATION: From the west edge of Laurens, IA go 3 miles north on 130^th Ave and 1 ˝ miles west on 410 Street, then ˝ mile north 115 Avenue, Laurens, IA.  The farms will be sold from their location.  Auctions signs will be posted. 

 

TRACT I - GENERAL DESCRIPTION: Selling will be 80 acres more or less of Swan Lake Township, Pocahontas County farmland.  According to the FSA office there are 77.9 tillable acres, with the balance of the farm consisting of a circle bench terrace towards the west side of the farm, driveway, road and ditch.  Overall the farm is an inside tract, gently sloped to rolling and in a good state of productivity.

TRACT I–SOIL TYPES: The primary soil types on the farm consist of the Clarion, Nicollet, Webster, Canisteo, Harps, Okoboji, Garmore, & Crippin.  Farm has an average CSR on the tillable acres of approximately 76.2.

TRACT I–LEGAL DESCRIPTION:The South Half of the Northwest Quarter of Section Five, Township Ninety-Three North, Range Thirty Four West, (5-93N-34W) of the 5^th PM Pocahontas County, IA.  Property contains 80 acres more or less.

TRACT I-CORN BASE/CORN YIELD: The Corn Base for the farm is 49.8 acres.  The Direct Corn Yield is 126 bushels, and the Soybean base is 28.1 acres with a soybean direct yield of 38 bushels.  The corn and soybean counter cyclical yield are the same.

TRACT I–REAL ESTATE TAXES: Sellers will pay all real estate taxes which would become delinquent if not paid by October 1, 2008, as well as all prior taxes.  The current net real estate taxes are $1,570 per year.

TRACT II – GENERAL DESCRIPTION: Selling will be 80 acres, more or less, of Swan Lake Township, Pocahontas County farmland.  According to the FSA office there are 68.6 tillable acres which is an inside tract, gently sloped to rolling,  the balance of the farm consisting of Cedar Creek running through a portion, and also there is an older acreage site with a good storage bin with approximately 12,000 bu capacity, with air floor and a low heat dryer.  The balance of the buildings would be considered a salvage value only consisting of; 1 ˝ story house, storage shed, wooden Quonset storage shed.

TRACT II–SOIL TYPES: The primary soil types on the farm consist of Clarion, Canisteo, Nicollet, and Webster series of soils.  The farm has an average CSR on the crop land acres of approximately 73.8. 

TRACT II–LEGAL DESCRIPTION: South Half of the Northeast Quarter of Section Five, Township Ninety-three North, Range Thirty-four West, (5-93N-34W), of the 5^th pm, Pocahontas County, IA.  The property contains 80 acres more or less. 

TRACT II-CORN BASE/CORN YIELD:  The Corn Base for the farm is 37.4 acres.  The Soybean base 30.6 acres with the Direct Soy Bean yield 38 bushels.  The corn and soybean counter cyclical yields are the same.

TRACT II–REAL ESTATE TAXES: Sellers will pay all real estate taxes which would become delinquent if not paid by October 1, 2008, as well as all prior taxes.  The net real estate taxes are $1,646 per year.

METHOD OF SALE: Each 80 acre tract will be sold separately.   Bid price per acre times 80 acres, more or less.  The tracts will not be combined. 

TERMS: Ten percent down the day of the auction, and the balance will be due on June 11, 2008.  A late charge will apply for buyers delaying the closing.  The abstract will be continued to date.  The buyers will have ten days from the receipt of the abstracts to have the abstract examined.  The seller guarantees a clear and marketable title on the properties.  Owner reserves the right to reject any and all bids.

POSSESSION:  June 11, 2008

(Subject to Current Rent Lease which will expire on March 1, 2009)

Information packets, containing soil maps, aerial photos, and other pertinent information are available upon request, or check out our web site at www.vanderwerffandassociates.com.

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NOTE: The properties being sold “as is”.  While every effort has been made to ensure the accuracy of the information herein provided, no warranty is given and no responsibility is assumed by the auction company, the auctioneers, the sellers or their agents concerning condition of the property, the corn bases, corn yields or other supplied information.  All prospective purchasers are encouraged to inspect and verify all information provided herein.  Vander Werff and Associates, Inc. represent the sellers for this transaction.  Any announcements made the day of the auction will supersede this advertisement

AUCTIONEER’S NOTE: We are pleased to offer these two tracts of Pocahontas County Farmland on behalf of the Marian L. Modlin Trust.  These farms are well located in the heart of Iowa’s farming country with excellent access to several grain markets.  The farms would make an excellent ad farming units or would offer the investor looking for a solid return a great opportunity to purchase.  Remember the farms will sale at auction from the farm site on Wednesday, May 7, 2008 at 10:30 am.  For additional information or if we can assist you in any way please contact Vander Werff and Associates.  We look forward to seeing you on auction day.  Thanks much Rich and Todd.