down payment on March 26, 2013. Balance at closing with projected date of
April 26, 2013 upon delivery of merchantable abstract and deed.
POSSESSION: Projected date of April 26, 2013. (Subject to tenants' leases.)
REAL ESTATE TAXES: Seller will be responsible for all real estate
taxes through December 31, 2012. Buyer will be responsible for all real
estate taxes thereafter.
The following taxes are approximate
| Tract #1:
|| Tract #2|
| Ag Credit:
|| Ag Credit:
Reserved Items: All gates & cattle equipment owned by tenants.
Motor & tank reserved by tenant on Tract #1
Any announcements made the day of sale take precedence over advertising!
~ Tracts #1 & #2 are rented
for the 2013 crop year as follows:
The tillable land is rented for the 2013 crop year on a 50/50 crop share
basis. The buyer will receive 50% of the crop. The buyer will also be responsible
for 50% of the input costs & will reimburse the seller for any expenses
already paid to the tenant for the 2013 crop year. Buyer shall reimburse
the seller $3,336.44 for seed, fertilizers and chemicals at closing.
Cash rent on the pasture of Tract #1 = 39.1 acres pasture x $78.36 per acre
= $3,064. The first half payment will be paid by the seller to the buyer
at closing and the second half payment due August 31, 2013 will be paid
by the tenant to the buyer.
The tillable land is rented for the 2013 crop year on a cash rent basis,
as stated in lease, as follows: 31 acres tillable = $4,500. The first $1,500
cash payment will be paid by the seller to the buyer at closing. The second
$1,500 cash payment due September 15, 2013 and third $1,500 cash payment
due December 15, 2013, will be paid by the tenant to the buyer.
Cash rent on the pasture of Tract #2 = 17 acres pasture x $35.00 per acre
= $595.00 which is due on April 1, 2013 and will be paid by the seller to
the buyer at closing. (Copy of leases available)
~ CRP payment on Tract #2 as follows: 38.3 acres at $217.20 per acre = $8,319.00,
~ It shall be the obligation of the buyer(s) to serve termination to the
tenants, prior to September 1, 2013, if so desired.
~ It shall be the obligation of the buyer(s) to report to the Henry County
FSA office and show filed deed(s) in order to receive the following if applicable:
A. Allotted base acres. B. Any future government programs. C. Prorate of
~ 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.
~ Both Tracts have been surveyed by a registered land surveyor.
~ The buyer(s) shall be responsible for installing his/her own entrances
if needed or desired.
~ If in the future a site clean up is required it shall be at the expense
of the buyer(s).
~ The buyer(s) shall be responsible for any fencing in accordance with Iowa
~ If one buyer purchases more than one tract the seller shall only be obligated
to furnish one abstract and deed. (husband & wife constitute one buyer)
~ This real estate is selling subject to any and all covenants, restrictions,
encroachments and easements, as well as all applicable zoning laws.
~ The buyer(s) acknowledge that they have carefully and thoroughly inspected
the real estate and are familiar with the premises. The buyer(s) are buying
this real estate in its "as is" condition and there are no expressed
or implied warranties pertaining to the same.