Saturday, January 6, 2018 at 1:00 P.M.
Sale to be held at the Morning Sun Community Center, 106 N. Main Street, Morning Sun, IA 52640
390 Acres± • 8 Tracts
The Butler Farms are located in Sections 17, 18, 20 & 24, Morning Sun Township, Louisa County, IA. All tracts are located 1 ½ miles north & northeast of Morning Sun, IA.
Be watching for presale directional signs.
Tract 1 • 95 Acres± (Subject to Survey)
- FSA information should indicate 91.38 acres tillable with the balance in waterways.
- Highly productive Taintor, Givin & Rubio soils
- CSR2 is 80.3!
- This tract is improved with field drainage tile.
- Access is on the west by Co. Rd. H16 (M Ave.)
Tract 2 • 21 Acres± (Subject to Survey)
- FSA information should indicate 19.31 acres tillable
- Productive Hedrick & Givin soils
- CSR2 is 75
- Access will be on the east off of N Ave. via a driveway that will require construction. Said driveway construction costs will be at the buyer’s expense and has been approved by the Louisa County Secondary Road Dept.
Tract 3 • 153 Acres± (Subject to Survey)
- FSA information should indicate 84.65 acres tillable with 52.09 acres in row crop production. There is 31.20 acres in CRP including 6 acres at a payment rate of $138.13 per acre ending in 2019. There is also 20.4 acres at $138.70 per acre ending in 2020, and 4.8 acres at a payment rate of $291.00 per acre ending in 2028. The total CRP payment is $5,055.00 per year.
- Soils include Clinton & Fayette
- CSR2 is 73.2 (tillable acres)
- The balance of this tract features excellent recreational acreage with high signs of wildlife activity including white tail deer & wild turkey.
- Access is on the west off of 40th St. via a 40’ ingress/egress easement.
Tract 4 • 33 Acres± (Subject to Survey)
- FSA information should indicate 14.09 acres tillable.
- Clinton & Lindley soils
- CSR2 is 72.9 (tillable acres)
- The balance of this tract features superb recreational acreage, hard surface road access and several new home sites.
- Access is on the south by Co. Rd. H16 (M Ave.)
Tract 5 • 37 Acres± (Subject to Survey)
- FSA information should indicate 20.84 acres tillable including 8.8 acres in CRP, with a payment rate of $138.13 per acres ending in 2019.
- Soils include Lindley & Clinton
- CSR2 is 61 (tillable acres)
- This parcel also includes wooded draws suitable for recreational activities, excellent building sites and features hard surface road frontage.
- Access is on the southeast by Co. Rd. H16 (M Ave.)
Tract 6 • 34 Acres± (Subject to Survey)
- FSA information should indicate 19.57 acres tillable with the balance in wooded draws.
- Clinton & Lindley soils
- CSR2 is 65.2 (tillable acres)
- This tract offers recreational acreage, several new home building sites and has hard surface road access.
- Access is on the east by Co. Rd. H16 (M Ave.)
Tract 7 • 9 Acres± (Subject to Survey)
- This attractive parcel offers several new home building sites over looking hardwood timber areas. Also featured is a very nice pond and includes hard surface road frontage.
- Access is on the south by Co. Rd. H16 & on the west by L Ave.
Tract 8 • 8 Acres± (Subject to Survey)
- This parcel is nearly 100% wooded and includes several species of hardwood timber. There is a small open tillable area in the southern portion that would make a very nice home building site.
- Access is on the north by Co. Rd. H16 (40th St.)
METHOD & TERMS
The Butler Farms will be sold on a price per acre basis, based on a survey that will be completed prior to the auction. Tract 1 will be sold first followed by Tract 2 individually. Tracts 3, 4, 5 & 6 will be sold next through the marketing method of “Buyer’s Choice,” whereas the high bidder can take any or all 4 tracts for their high bid. Tracts 7 & 8 will be sold next individually for a LUMP SUM total dollar amount. All 8 tracts will be sold individually and will NOT be combined at the conclusion of the auction.
Ten (10%) percent of the bid price to be due on the day of sale with the balance due upon delivery of a merchantable abstract and deed. Closing on all tracts is scheduled to be in approximately 45 days, on or before Thursday, March 1, 2018. Immediately following the auction, the successful bidder(s) shall enter into a written agreement with the sellers. The real estate taxes will be prorated to the date of closing. Full possession will be given at the time of closing. All tracts sell with full farming rights for the 2018 crop year.
All announcements sale day shall take precedence over any prior advertising either written or oral. The information in this brochure is believed to be accurate, however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, etc. are approximate. Buyers should verify the information to their satisfaction. There are no expressed or implied warranties pertaining to the property. This real estate is being sold “as is”.
PHOTOS – TRACT 1
PHOTOS – TRACT 2
PHOTOS – TRACT 3
PHOTOS – TRACT 4
PHOTOS – TRACT 5
PHOTOS – TRACT 6
PHOTOS – TRACT 7
PHOTOS – TRACT 8
Terry M. and Pamela R. Butler – Sellers
Representing & Closing Attorney:
Shafer Law Office
204 West State Street
P O Box 779
Williamsburg, IA 52361
In conjunction with Steffensmeier Auction Company
Sullivan Auctioneers, LLC rep. Jim Huff 319-931-9292 and Jeff Hoyer 319-759-4320