Auction Information

Hamilton County 189 acres

102 N Mcarthur ST. Woolstock, IA 50599, Woolstock, IA

Start Date: 11/14/2008, 10:00 AM

Tract 1- 119 gross acres, 117 net acres, 109.7 acres tilled, 2.8 acres CRP, 77 CSR, Corn Base/Yield = 6.9/121, Soybean Base/Yield = 40.3/26

Description: Gently rolling, highly tillable farm with good quality soils. CRP receives $551/year expiring in 2017.

Tract 2- 30 Gross Acres, 27.83 approx. net acres, 0 tilled acres, 28 acres CRP, 76.3 CSR.

Description: All gently rolling CRP with a creek running through it. CRP receives $6,052/year expiring in 2019. Acres covered with water also in CRP.

Tract 3- 40 gross acres, 39 net acres, 26.9 tilled acres, 6.9 acres CRP, 55.8 overall CSR, 66.4 tillable CSR. Corn Base/Yield = 18.3/121, Soybean Base/Yield = 8.6/26

Description: Gently rolling to rolling in nature with a good mix of tilled acres and filter strips as well as a creek that meanders through the farm. This tract would make an excellent building parcel. CRP receives $991/year expir...

Terms and Possession: A 10% down payment the day of the sale in the form of cash or check. The earnest money deposit will be held by Gannon Real Estate & Consulting in their trust account. Closing on or about December 15, 2008 or possible flexible closing for 1031 buyer if arranged prior to the sale. Buyers are required to sign in and state they have the means available to complete the sale if they are the successful bidder. Seller(s) have the right to reject any and all bids. Lease has been cancelled for 2009. Buyer(s) to receive full possession on 3/1/09 on cropland and at closing on CRP. Base and yield numbers for the individual parcels are estimated and Buyer(s) will agree to splits made by the Hamilton County Farm Service Agency. Buyers agree to assume all CRP contracts upon closing. If tracts 1 & 2 are split, the cost of the survey will be split between the Buyers and Seller(s) with the Seller(s) paying 1/2 and each Buyer paying 1/4 each. Total sale price will not be adjusted if the surveyed acres change from what is announced on sale day or in the printed materials.

Method of Sale: Parcels 1, 2 & 3 will be offered individually twice and then tracts 1 & 2 will be combined. The highest bid combination will be offered to the Seller(s) at the auction or within 24 hours.

Announcements: Property information provided herein was obtained from sources deemed reliable, but Auctioneer and/or Seller(s) make no guarantees as to its accuracy. All prospective bidders are urged to fully inspect the property and its condition, and to rely on their own conclusions. Property sells “as-is”.

All sketches, dimensions, and acreage figures in this information are approximate or “more or less”. Any announcements made auction day by the Auctioneer will take precedence over any previous material or oral statements. Bidding increments are solely at the discretion of the Auctioneer. No absentee or telephone bids will be accepted at the auction without prior approval. All decisions of the Auctioneer are final. Employees of Gannon Real Estate & the Marty Rogers auction team represent the Seller(s) only.