TERMS: 20%
down payment on November 12, 2009. Balance to be paid on or before December
11, 2009 upon delivery of merchantable abstract and deed.
POSSESSION: December 11, 2009 on all tracts.
REAL ESTATE TAXES: To be prorated to date of possession on the basis
of the last available tax statement. Seller shall pay any unpaid real estate
taxes payable in prior years.
Reservations on Tracts #1-3: All growing crops. (2) Oak trees on Tract #3.
Reservations on Tract #4:
Personal property.
Inclusions on Tract #4: LP tank, stove, window air conditioner.
The following taxes are approximate and will
be used to prorate at closing:
Tract #1
Gross: $913.10
Ag Cr: $31.11
Family Farm Cr: $26.32
Net Taxes: $856.00 |
Tract #2
Gross: $1009.33
Ag Cr: $46.97
Family Farm Cr: $39.75
Net Taxes: $922.00 |
Tract #3:Gross:
$2329.54
Ag Cr: $97.89
Family Farm Cr: $82.84
Net Taxes: $2148.00 |
Tract #4:Gross:
$1049.51
Ag Cr: $5.82
Family Farm Cr: $4.93
Homestead Cr: $110.36
Net Taxes: $928.00 |
Assessed Value of Tract #4: $70,120.00
SPECIAL PROVISIONS:
~This real estate is selling subject
to public road easements and all other easements of record.
~ If one buyer purchases more than one
tract the sellers shall only be obligated to furnish one abstract and deed.
Husband and wife constitute one buyer.
~ It shall be the obligation of the buyer(s)
of Tract #1, #2 & #3 to report to the Henry County FSA office and show
filed deeds in order to receive the following if applicable:
A. Allotted base acres.
B. Any future government programs.
C. Pro rata share of CRP.
~ CRP payments are as follows:
Tract #1- 1.23 Acres @ $211.39 = $260.00
expires 9-30-19
Tract #2- 3.48 Acres @ $211.39 = $735.63
expires 9-30-19
Tract #3- 37 Acres @ $123.15 = $4557.00
expires 9-30-16
1.3 Acres @ $136.23 = $177.00 expires 9-30-16
6 Acres @ $196.48 = $1179.00 expires 9-30-17
1.9 Acres @ $112.22 = $213.00 expires 9-30-15
8.6 Acres @ $157.00 = $1350.00 expires 9-30-12
54.8 Acres for a total of: $7476.00
~ The sellers shall not be obligated to
furnish a survey of any tracts.
~ Water is shared by Tract #4 (Home) &
Tract #2. It shall be the obligation of the buyer of Tract #4 to disconnect
the water line that runs to Tract #2. If buyer of Tract #2 desires water,
it will be their obligation to reconnect.
~ The sellers are installing a new septic
system on Tract #4.
~ The buyer of Tract #3 shall be responsible
for installing a driveway for the purposes of ingress & egress.
~ The buyer of Tract #4 shall reimburse
the seller for the remaining gas in the LP gas tank at the current rate
on the day of closing.
~ The buyer(s) of Tracts #1-3 shall be
responsible for any fencing in accordance with Iowa state law. The buyer
of Tract #4 shall be responsible for any perimeter fencing.
~ If in the future a site clean up is required
it shall be at the expense of the buyer.
~ The buyers acknowledge that they have
carefully and thoroughly inspected the real estate and are familiar with
the premises. The buyers are buying this real estate in its "as is"
condition and there are no expressed or implied warranties pertaining to
the same. | 
