March 9, 2010 - 66 Acres of Lincoln County, SD Farmland - Sold For $5,650.00

LINCOLN COUNTY SD FARMLAND AUCTION

OF 66+/–ACRES OF PRODUCTIVE FARMLAND

TUESDAY MARCH 9, 2010

SALE TIME: 10:30 A.M.

LOCATION: land is located on the SouthEast edge of Fairview SD adjoining the South edge of the town of Fairview SD

AUCTION WILL BE HELD AT SITE OF LAND

Auction signs will be posted!!

LEGAL DESCRIPTION: The W ½ of the SW ¼ of Section 14, Twp 97N, Range 48W in Lincoln County SD (except 6 ½ acres now a part of the Town site of Fairview, Lincoln County, SD and except County Auditors Lot H1 in the W ½ SW ¼ of said Sec.14-97N-48W and except Tract 2 of Odell’s Addition in the W ½ SW ¼ of said Section 14-97N-48W) and Outlots 26, 27, 28, and part of Outlot 29 lying South and West of Beach Street of the Town of Fairview, Lincoln County South Dakota.

GENERAL DESCRIPTION: This highly productive 66 +/– acre tract of farmland has approximately 66+/– tillable acres according to the Lincoln County FSA. This farm has a corn base of 32.9 acres with a direct yield of 90 bu and a cc yield of 118 bu. This farm has a soybean base of 32.8 acres with a direct yield of 30 bu and a cc yield of 36 bu. The predominant soil types include ACA-Alcester silty clay loam with 0 to 2% slopes and GR-Graceville silty clay loam. This farm has an average soil rating of .926. This farm is classified as non-highly erodible. This farm has one housing eligibility. This farm is well maintained and managed and has a good soil rating making it an opportunity for anyone to add to their current operation.

METHOD OF SALE: This tract of farmland will be offered as one 66+/– acre tract of farmland.

TAXES: According to the Lincoln County Treasurer, the current Real Estate taxes are approximately $1183.80 per year. Seller will pay the 2009 taxes due and payable in the Spring and Fall installments of 2010.

POSSESSION: Possession of the farmland will be immediately following the auction.

TERMS: Purchaser(s) will be required to pay a non-refundable 10% of the purchase price immediately following the auction and also enter into a purchase agreement with the remaining balance due and payable on closing day on or before April 13, 2010 when the buyer shall receive a clear and merchantable title to the property. Title insurance and closing fee will be split 50/50 between buyer and seller. The farm is being sold as is as a cash sale with no finance contingencies. Sellers agree to sell surveyed acres. If buyer desires a survey—Survey will be the buyers expense. While every effort has been made to ensure the accuracy of the information herein, all prospective buyers are encouraged to inspect the property and verify all data provided. Any announcements made day of auction will supersede any advertisements. Aerial maps, soil maps and auction booklets are available upon request. The land is sold subject to the confirmation of the sellers. If any additional information is requested, please contact the agents listed below. Vande Vegte and Zomer Realty and Auction Inc. are agents for the sellers. Santema law office—Jeffrey W. Santema –attorney for the sellers.

Website-www.vanzomrealtyauction.com

GILBERT VANDE STROET ESTATE—OWNERS

Auctioneers and RE Brokers

Mark Zomer—712-470-2526     Darrell Vande Vegte—712-726-3428