November 13, 2008 - 80 Acres of Sioux County, IA Farmland

SIOUX COUNTY FARMLAND AUCTION

OF 80+/– ACRES OF IRRIGATED SIOUX COUNTY FARMLAND

WITH DEVELOPMENT POTENTIAL LOCATED IN SECTION 22 AND 23, ROCK TOWNSHIP- WITH OPTION TO LEASE AN ADDITIONAL ADJOINING 68+/–ACRES.

THURSDAY NOVEMBER 13, 2008

SALE TIME: 10:30 A.M.

**AUCTION WILL BE HELD AT SITE OF LAND**

Auction signs will be posted !!

LOCATION: From Pump n Pak in Rock Valley, IA go 1 ½ miles East  on Hwy 18 and then proceed North on temporary access road to the site of 80+/– acres- adjacent to new water tower site.

Auctioneers note: We are pleased to have been asked to conduct this auction for RVEDC. This property truly presents an opportunity to purchase an irrigated 80+/– acre tract of farmland located on the progressive edge of Rock Valley, IA. which offers great potential for future development or to be an addition to your current farming operation.

Legal Description: The NE ¼ of the SE ¼ of Section 22 and the NW ¼ of the SW ¼ of Section 23, Rock Township, Township 97 North, Range 46 West, Sioux County, Iowa, subject to public right of way and easements of record. Sold subject to survey.

General Description: Selling will be 80+/– acres of farmland. This tract of farmland is an inside tract of farmland and contains approximately 80+/– tillable acres. The predominant soil types include 310B-Galva Silty clay loam, 474B2 and 474D2-Bolan and also a small portion of 28C2-Dickman. This tract of farmland includes an Olsen electric low pressure irrigation system with 10 large towers. Successful bidder will also be deeded a small tract of land which includes a 42 ft deep well with a 100 hp electric pump, and also will receive a easement for underground irrigation pipe proceeding from well to the 10 tower irrigation system. This tract will be surveyed at seller’s expense and all boundaries marked and total acres adjusted according to the survey. The corn base and direct yield and cc yield are currently included in adjoining land owned by the seller. It will be the responsibility of the new buyer and Farm Service Agency to re-determine the base acres and yields. Buyer(s) will be granted a temporary access easement to the property until a permanent public access is available. Successful bidder(s) will have the option to lease an additional approx. 68+/– acres for 2009 crop year for $160.00 per acre for a period of 1 year. Rent terms –1/2 due on March 1, 2009 and the remainder due on September 1, 2009. (Approximately 35 acres of the 68+/– acres is also irrigated). Farm lease will be prepared by sellers attorney. This land lies within the City limits of Rock Valley, IA and therefore offers endless future opportunities. (All manure application shall be in compliance with City ordinances and all State and Federal Regulations.)

Taxes: According to the Sioux County Treasurer, the current Real Estate Taxes are approximately $1022.00 per year. Seller will pay the 2008 taxes due and payable in the Spring and Fall installments of 2009. 

Possession: Possession of 80+/–acres will be given to the buyer(s) on March 1, 2009            due to current farm lease.

Method of Sale: 80+/– acres will be sold as one unit. Buyer(s) agree to purchase surveyed acres.

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 balance due on closing day December 29, 2008 when the buyer shall receive a clear and merchantable title to the property. The farm is being sold as is as a cash sale with no finance contingencies. 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 the data provided. Any announcements made the day of the auction will supersede any advertisements. Aerial maps, soil maps, proposed farm lease and also auction booklets are available upon request. The land 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. McGill and McGill attorney for the sellers.

Website: www.vanzomrealtyauction.com

ROCK VALLEY ECONOMIC DEVELOPMENT CORP.—OWNERS

AUCTIONEERS AND RE BROKERS

MARK ZOMER—BROKER-712-470-2526

DARRELL VANDE VEGTE-BROKER—712-726-3428

GARY VANDEN BERG—SALES—712-476-5843