TERMS: 20% down payment on January 19, 2012. Balance to be paid on or before February 20, 2012 upon delivery of merchantable abstract and deed.
POSSESSION: February 20, 2012 (Subject to tenant's lease. Buyer will receive entire 2012 cash rent)
REAL ESTATE TAXES: Seller will be responsible for all real estate taxes through December 31, 2011. Buyer will be responsible for all real estate taxes thereafter.

The following taxes are approximate and will be used at closing.

Gross Taxes:	$3,963.61
Ag. Credit	$180.38
Net:	$3,782 (rounded)

SPECIAL PROVISIONS:
~ The farm is rented for the 2012 crop year. The buyer will receive from the tenant the entire 2012 cash rent, which is $125/acre x 130.5 acres = $16,312.50. Which will be paid on March 1, 2012 and the second half due on December 1, 2012.
~ It shall be the obligation of the buyer to serve termination to the tenant, prior to September 1, 2012, if so desired.
~ It shall be the obligation of the buyer to report to the Louisa County FSA office and show filed deed in order to receive the following if applicable: A. Allotted base acres. B. Future government programs. C. CRP Prorate
~ CRP will be prorated based on the following:
20.6 acres are in CRP at $133.46 per acre = $2,749 and expires on 9-30-2016.
3.8 acres are in CRP at $133.46 per acre = $507 and expires on 9-30-2012.
~ Buyer(s) agree to follow all requirements of conservation plans and practices required by the FSA to maintain eligibility in the Conservation Reserve Program. Buyer(s) agree to accept responsibility and liability for any actions by the buyer which would endanger eligibility for the CRP or actions that would require repayment of the CRP payment or payments. Buyer(s) further agree to indemnify and hold harmless the sellers/tenant for any recovery sought by the FSA due to actions of buyer, which would violate the requirements of the CRP. In the event the buyer(s) elect to take the ground out of CRP, the buyer(s) will be responsible to the seller/tenant for any prorate of the CRP payment that the seller/tenant would have received.
~ The seller shall not be obligated to furnish a survey.
~ This real estate is selling subject to any and all covenants, restrictions and easements of record, as well as all applicable zoning laws.
~ The buyer shall be responsible for any fencing in accordance with Iowa state law.
~ If in the future a site clean up is required it shall be at the expense of the buyer.
~ The buyer acknowledges that he/she has carefully and thoroughly inspected the real estate and is familiar with the premises. The buyer is buying this real estate in its "as is" condition and there are no expressed or implied warranties pertaining to the same.