High quality farmland in a strong farming community. Offering 116.69 acres m/l of highly productive Benton County farmland to be sold at public auction on Wednesday, January 8th, 2020. The auction will take place at 10:00 AM and to be held at Turner Hall in Keystone, Iowa. This tract is nearly 100% tillable with an estimated 113.25 M/L FSA cropland acres carrying a CSR2 of 90.8. This farm has outstanding soil types including Tama, Dinsdale and Muscatine silty clay loams. The lease has been terminated and the farming rights will be available for the 2020 crop year. The farm has great highway location and is located one mile south of Keystone, Iowa and one mile North of U.S.Highway 30.
E1/2 W1/2 SE1/2, Section 23, Township 83 North, Range 12 West of the 5th P.M. & E1/2 SE1/4, except Parcel A, Section 23, Township 83 North, Range 12 West of the 5th P.M. Exact Legal to be taken from the abstract.
Estimated Base Acres: 113.25
Corn Base: 110.33 Base Acres (estimated) with a PLC Yield of 156
Bean Base: 0.1 Base Acres (estimated) with a PLC Yield of 57
From Keystone, IA travel south on IA Highway 200 for 1 mile. Property will be located on the west side of the Highway. Look for signs.
From Highway 30 travel North on IA Highway 200 for 1 mile. Property will be located on the west side of the Highway. Look for signs.
Benton County Land Auction
116.69 Acres M/L
Wednesday, January 8th, 2020
Kromminga Family Revocable Trust
Keystone Turner Hall
91 2nd Street
Keystone, IA 52249
Auction Method: Property will be offered as one individual tract. All bids will be on a price per acre basis.
Farm Program Information: Farm Program Information is provided by the Benton County Farm Service Agencies. The figures stated in the marketing material are the best estimates of the Seller and Peoples Company; however, Farm Program Information, base acres, total crop acres, conservation plan, etc. are subject to change when the farm is reconstituted by the Benton County FSA and NRCS offices.
Earnest Money Payment: A 10% earnest money payment is required on the day of the auction. The earnest money payment may be paid in the form of cash or check. All funds will be held in Peoples Company’s Trust Account.
Closing: Closing will occur on or about Tuesday, February 11th, 2020. The balance of the purchase price will be payable at closing in the form of cash, guaranteed check, or wire transfer.
Possession: Possession of the farm will be given at Closing, Subject to Tenants Rights.
Farm Lease: The current farm lease has been terminated. Farm will be open for the 2020 season.
Contract & Title: Immediately upon conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Peoples Company the required earnest money payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon Buyer financing.
Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number in order to bid at the auction.
Other: This sale is subject to all easements, covenants, leases, and restrictions of record. All property is sold on an “As is – Where is” basis with no warranties, expressed or implied, made by the Auctioneer, Peoples Company, or Seller. All bids will be on a per acre basis. Peoples Company and its representatives are agents of the Seller. Winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made auction day by the Auctioneer or Listing Agents will take precedence over all previous marketing material or oral statements. Bidding increments are at the sole discretion of the Auctioneer. No absentee or phone bids will be accepted at the auction without prior approval of the Auctioneer. All decisions of the Auctioneer are final.
Disclaimer: All field boundaries are presumed to be accurate according to the best available information and knowledge of the Seller and Peoples Company. Overall tract acres, tillable acres, etc. may vary from figures stated within the marketing material. Buyer should perform his/her own investigation of the property prior to bidding at the auction. The brief legal descriptions in the marketing material should not be used in legal documents. Full legal descriptions will be taken from abstract.
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