JEFFERSON COUNTY, IA LAND AUCTION - LAUX

Tract 1 - 140.35 Surveyed Acres

• FSA figures indicate approximately 113.34 acres of cropland

• Productive soil types include Haig, Grundy, Pershing and Rinda

• CSR2 of 68.1 (tillable only)

• The balance of this tract is a wooded draw

• Access is on the south side off of Glasgow Road

Tract 2 - 42.61 Surveyed Acres

• FSA figures indicate 36.91 acres of cropland

• Productive soil types include Haig, Grundy, Pershing and Rinda

• CSR2 of 60.4 (tillable only)

• The balance of this tract is a small wooded draw

• Access is on the north side off of 248th Boulevard

Tract 3 - 94.41 Surveyed Acres

• FSA figures indicate 53.18 acres of cropland

• Productive soil types include Haig, Pershing and Rinda

• CSR2 of 58.3 (tillable only)

• The balance of this tract is wooded pasture and timber areas offering excellent recreational opportunities

• Access is on the north side off of 248th Boulevard via a driveway that may require widening at the buyer's expense. Said driveway has been approved by Jefferson County Secondary Roads

Tract 4 - 9.75 Surveyed Acres

• FSA figures indicate approximately 1.00 acre of cropland

• This tract offers an excellent building site along a hard surfaced road

• There is a small pond on this tract as well as a wooded area with mature trees

• Access is on the south off of Glasgow Road

Tract 5 - 160.51 Surveyed Acres

• FSA figures indicate 88.53 acres of cropland, of which 28.20 acres are enrolled in the Conservation Reserve program

• The current CRP contract expires September 30, 2031. The rental rate is $240.00 per acre with an annual contract payment of $6,768.00

• Productive soil types include Ladoga and Gara

• CSR2 of 66.7 (tillable only)

• The balance of this tract is open and timber areas offering exceptional hunting and recreational activities

• Access is on the west side off of Germanville Road via one or two driveways to be constructed by the new buyer. Both driveways have been approved by Jefferson County Secondary Roads

Tract 6 - Country Home, Outbuildings and 3.92 Surveyed Acres

• This nice country acreage is improved with a large 2 story home having 1,816 sq. ft. of living space, 4 bedrooms, kitchen, living & dining rooms, 2 baths, full basement and a large open front porch. Outbuildings include a 46’ x 59’ machine shed with partitioned office/man-cave, 32’ x 48’ hog/storage building and a 10,000 bushel grain bin (not being used). This ideally located home has rural water and on a hard surfaced road.

The Laux Farms will be sold in six (6) individual tracts, based on a survey that has recently been completed. Said surveyed acres will be used to constitute the final settlement price. Tracts 1, 2 & 3 will sell first on a price per acre basis and through the marketing method of "Buyer's Choice", whereas the high bidder can take any or all tracts for their high bid. "Buyer's Choice" auctioning will continue until all three tracts have been sold. We will then sell Tract 4 for a "lump sum", total dollar amount. We will then sell Tract 5 on a price per acre basis followed by Tract 6 for a "lump sum", total dollar amount.

Ten (10%) percent of the bid price to be due on the day of sale with the balance due in approximately 45 days, on or before Monday, July 31, 2023 upon delivery of a merchantable abstract and deed. Immediately following the auction, the successful bidder(s) shall enter into a written agreement with the seller. Full possession will be given at the time of closing, subject to the leases with the tenants. The buyer(s) of Tracts 1, 2 & 3 will receive 50% of the cash rent for their respective tracts on November 1, 2023. The buyer of Tract 5 will receive 50% of the cash rent as a credit at closing (ask auction company for details.) Subject to the Iowa Septic System Law, this property is held in an estate, therefore the septic system on Tract 6 is exempt from any septic system testing or upgrades. Any future septic system testing or upgrades will be at the buyer(s) expense. Tracts 1, 2 & 3 sell with full farming rights for the 2024 crop year. Tract 5 is leased through the 2026 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”.