Thursday, March 31st, 2016 11:00 AM-Sanborn County, SD Land Auction-520 +/- Acres Elliot Township-Cropland and Pasture-Alden H. Hovda Trust, Owner---This land was located approx 30 miles NW of Mitchell SD,

Sanborn County, SD Land Auction

520+/- Acres Elliot Township

Cropland And Pasture

Thursday, March 31st, 2016 11:00 A.M.

We will sell the following real estate at public auction at the Tract 1 land site located from Letcher SD 4 miles west on Hwy 80 (241st St.) and 2 miles south on 399th Ave.

Here are four great tracts of land in Sanborn County SD that have been in the Hovda family since the 1800’s.  Tracts 1, 2 and 3 are primarily crop land with excellent soil ratings and Tract 4 includes approximately 122 acres of pasture with the balance in cropland.  Rarely does an opportunity come along to purchase this amount of high quality land in one area.  The land is sold subject to a lease for 2016 and the buyer will receive the lease income for 2016 at closing.   Be sure to attend this auction if you are looking to expand your current farming operation or purchase as an investment. The land will be offered in 4 tracts and the tracts will not be combined.

Tract 1: Legal Description: NE ¼ 35-105-62, Sanborn County SD, 160 +/- Acres.  Located from Letcher SD 4 miles west on Hwy 80 (241st St.) and 2 miles south on 399th Ave.  According to the Sanborn County Director of Equalization the land has a county soil rating of .816. According to Surety/AgriData predominate soils include: Clarno loam, Tetonka silt loam and Clarno-Ethan loams with a productivity rating of 75.3.  Tracts 1, 2 and 3 are currently combined  into one operating unit although based on a percentage allocation Sanborn County FSA estimates Tract 1 includes 147.51 acres of cropland with a 60 acre corn base/116 bushel per acre PLC yield, a 50.43 acre soybean base/36 bushel per acre PLC yield and a 30.16 acre wheat base/55 bushel PLC yield. This tract is sold subject to an existing cash rent lease in place for the 2016 crop year with the new buyer to receive $22,126.50 at closing for 2016 rent.  2014 Taxes: $1,955.86.

Tract 2: Legal Description: SW ¼, NW ¼ 36-105-62, Sanborn County SD, 40 +/- Acres.  Located from Letcher SD 4 miles west on Hwy 80 (241st St.) and 2 ¼ miles south on 399th Ave.  According to the Sanborn County Director of Equalization the land has a county soil rating of .808. According to Surety/AgriData predominate soils include: Hand-Ethan loams and Tetonka-Davison-Clarno complex with a productivity rating of 72.6.  Tracts 1, 2 and 3 are currently combined into one operating unit although based on a percentage allocation Sanborn County FSA estimates Tract 2 includes 38.31 acres of cropland with a 15.59 acre corn base/116 bushel per acre PLC yield, a 13.1 acre soybean base/36 bushel per acre PLC yield and a 7.83 acre wheat base/55 bushel PLC yield. This tract is sold subject to an existing cash rent lease in place for the 2016 crop year with the new buyer to receive $5,746.50 at closing for 2016 rent.  2014 Taxes: $483.76.

Tract 3: Legal Description: SE ¼ 26-105-62, Sanborn County SD, 160 +/- Acres.  Located from Letcher SD 4 miles west on Hwy 80 (241st St.) and 1 ½ miles south on 399th Ave.  According to the Sanborn County Director of Equalization the land has a county soil rating of .734. According to Surety/AgriData predominate soils include: Tetonka silt loam, Hand-Ethan loams and Clarno-Ethan loams with a productivity rating of 66.3.  Tracts 1, 2 and 3 are currently combined into one operating unit although based on a percentage allocation Sanborn County FSA estimates Tract 3 includes 131.35 acres of cropland with a 53.43 acre corn base/116 bushel per acre PLC yield, a 44.9 acre soybean base/36 bushel per acre PLC yield and a 26.85 acre wheat base/55 bushel PLC yield.  In addition there are 16.2 acres of CRP enrolled 11/1/12 expiring 9/30/23 with an annual payment of $1,661.  This tract is sold subject to an existing cash rent lease in place for the 2016 crop year with the new buyer to receive $18,526.50 at closing for 2016 rent.  2014 Taxes: $1,755.16.

Tract 4: Legal Description: SE ¼ 24-105-62, Sanborn County SD, 160 +/- Acres.  Located from Letcher SD 3 miles west on Hwy 80 (241st St.) and ½ mile south on 399th Ave.  According to the Sanborn County Director of Equalization the land has a county soil rating of .641. According to Surety/AgriData predominate soils include: Durrstein silt loam, Alwilda fine sandy loam and Carthage fine sandy loam    with a productivity rating of 47.9.  Sanborn County FSA estimates Tract 4 includes 35.67 acres of cropland with a 14.51 acre corn base/116 bushel per acre PLC yield, a 12.2 acre soybean base/36 bushel per acre PLC yield and a 7.29 acre wheat base/55 bushel PLC yield. Tract 4 also contains approximately 122.5 acres of pasture including a creek, dam and trees.  This tract is sold subject to an existing cash rent lease in place for the 2016 crop year with the new buyer to receive $14,500.50 at closing.  2014 Taxes: $1,955.86.

TERMS:  15% nonrefundable down payment day of sale with the balance due at closing on or before May 12, 2016 with landlord’s possession for the 2016 crop year.  This property is sold subject to an existing cash rent lease for the 2016 crop year with the buyers to receive the 2016 rent income at closing.  Title insurance and closing costs split 50/50 between buyer and seller. 2015 taxes due in 2016 paid by the seller. 2016 taxes due in 2017 to be paid by the buyer. FSA cropland acres, yields, bases and other information are estimated and subject to County Committee approval.  The acres in this property are based on acres stated in the county tax records with acres to be understood to be “more or less”.  The sellers do not warranty or guarantee that the existing fences lie on the true and correct boundary and new fencing, if any, will be the responsibility of the purchaser pursuant to SD statutes. The property is sold in as is condition and as a cash sale with no financing contingency.  Sold subject to existing easements, restrictions, reservations, or highway of record, if any. Information is deemed to be correct but it is not guaranteed. All prospective buyers are encouraged to inspect the property and verify all data provided.  Statements made the day of sale take precedence over all written advertising.  Real Estate licensees are agents for the seller.  Sold subject to confirmation of owner.

Alden H. Hovda Trust, Owner

Deborah Olson Trustee

Pete Atkins, Broker Associate, Tea, SD 605-351-9847

Joel R Westra, Broker, Beresford, SD 605-310-6941

Joel A Westra, Broker Associate, Chancellor, SD 605-957-5222

Phil Eggers, Broker Associate, Renner, SD 605-351-5438

Mark Zomer, Vande Vegte Zomer Auctions, Rock Valley, IA 712-470-2526