| 226.42 Acres +/- Acres located in Cedar & Spring Townships, Cherokee County, IA Auction Tuesday August 19, 2008 - Sale Time 10:30 am Location: From the North edge of Larrabee, IA go 2 miles East on Blacktop C-16. Auction signs will be posted on the farm. Farm to be sold from its location. Tract 1 General Description: Selling will be 80 acres +/- in Cedar Township Cherokee County, IA consisting of farmland, trees, grassland. According to the FSA office there are approx 62.2 tillable acres with the balance trees, grassland, road & ditch. The land is level to gently sloped. The primary soil type consists of the Sac series. The average CSR on the tillable acres is 67.6. This is an inside tract & the farm is clean & in a good state of productivity. Legal Description: The East half of the Southeast quarter of section 13, township 93N, range 40W of the 5th pm. Cherokee county, IA. The property consist of 80 acres. Tract 2 General Description: Selling will be 146.42 acres in Spring Township, Cherokee County, IA. consisting of farmland, trees, and pastureland. According to the FSA office there are approximately 54.65 tillable acres with the balance consisting of good pastureland, timber, and an old building site consisting of an older 1 1/2 story home, corn crib, barn, detached double garage, and cattle shed. All buildings are considered of salvage value only and are being sold as is. The tillable acres on the farm are level to gently sloped. The primary soil types on the tillable acres are the Galva and Sac Series. The average CSR on the tillable acres is 64.8. This is an inside tract, the tillable acres are in a good state of productivity. Legal Description: The fractional Southwest quarter of 18 section township 93N. Range 39W of the 5th pm Cherokee county, IA. Property contains 146.42 acres more or less. Corn Base/Corn Yield: According to the FSA office the entire farm has a corn base of 54 acres and a soybean base of 54 acres. The direct corn yield is 106 bushels and the direct soybean yield is 41 bushels. The corn counter cyclical yield is 111 bushels and the soybean counter cyclical yield is 49 bushels. In the event the farm is sold in 2 different tracts the corn base & corn yield will be split according to the FSA office calculations. Real Estate Taxes: Sellers will pay all real estate taxes which would become delinquent if not paid by October 1, 2009 as well as all prior taxes. The taxes on tract 1 are $1,086.00 net per year and tract 2 are $1,324.00 net per year. Method of Sale: Tract 1 will be offered as an 80 acre +/- tract and this bid held. Tract 2 will be offered as 146.42 acres +/- and this bid held. We will then offer the combination of tract 1 and 2 consisting of 226.42 acres more or less and the farm will be sold to the highest bid and/or bidders. Terms: Ten percent down on the day of the auction, and the balance will be due on December 1, 2008. A late charge will apply for buyers delaying the closing. The abstracts will be continued to date. The buyers will have ten days from the receipt of abstract to have the abstracts examined. The seller guarantees a clear and marketable title on the properties. If the farm sells in 2 tracts the sellers will furnish separate abstracts. The owner reserves the right to reject any and all bids. Possession: December 1, 2008 (subject to current 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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