AUCTION DETAILS Major Jasper County, Iowa Land Auction 1,183.97 Acres M/L Offered in Eleven Tracts Thursday, May 25th, 2023 10:00 AM Auction Location: Jasper County Fair Grounds, Exhibit Hall 359 N. Walnut Street Colfax, IA 50054 Seller: Healy Farm Trust & Cletus J Healy Trust Auction Method: All tracts will be sold on a per-acre basis and will be offered through the "Buyer's Choice Auction Method", whereas the winning bidder may elect to take, in any order, any or all tracts for their high bid. The "Buyer's Choice Auction Method" auctioning will continue until all eleven tracts have been purchased. Tracts will not be offered in their entirety or combined at the conclusion of the auction. Tract 1: 124.31 Acres M/L Tract 2: 30.87 Acres M/L Tract 3: 99.46 Acres M/L Tract 4: 33.27 Acres M/L Tract 5: 59.90 Acres M/L Tract 6: 40 Acres M/L Tract 7: 103.74 Acres M/L Tract 8: 156.66 Acres M/L Tract 9: 140.23 Acres M/L Tract 10: 316.07 Acres M/L Tract 11: 79.46 Acres M/L Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number in order to bid at the auction. Peoples Company and its representatives are agents of the Seller. Winning bidder(s) acknowledge they are representing themselves in completing the auction sales transaction. Farm Program Information: Farm Program Information is provided by the Jasper County Farm Service Agency. The figures stated in the marketing material are the best estimates of the Seller and Peoples Company; however, Farm Program Information, base acres, total crop acres, conservation plan, etc. are subject to change when the farm is reconstituted by the Jasper County FSA and NRCS offices. Earnest Money Payment: A 10% earnest money payment is required on the day of the auction. The earnest money payment may be paid in the form of cash or check. All funds will be held in Peoples Company’s Trust Account. Closing: Closing will occur on or before Thursday, July 13th, 2023. The balance of the purchase price will be payable at closing in the form of cash, guaranteed check, or wire transfer. Possession: Possession of the land will be given At Closing, Subject to Tenant's Rights. Farm Lease: The farm is leased for the 2023 crop year. Contact agent for details. CRP Contracts: Buyer will assume any and all contracts related to participation in the Conservation Reserve Program (CRP). Contact agent for details. Contract & Title: Immediately upon conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Peoples Company the required earnest money payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon Buyer financing. Fences: Existing fences, if any, are in as-is condition and will not be updated or replaced by the Sellers. Not all tract and boundary lines are fenced and if needed, will be the responsibility of the Buyer at closing. Existing fence lines may not fall directly on the legal boundary. Surveys: No additional surveying or staking will be provided by the Seller. Other: This sale is subject to all easements, covenants, leases, and restrictions of record. All property is sold on an “As is – Where is” basis with no warranties, expressed or implied, made by the Auctioneer, Peoples Company, or Seller. All bids will be on a per-acre basis. Peoples Company and its representatives are agents of the Seller. Winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made auction day by the Auctioneer or Listing Agents will take precedence over all previous marketing material or oral statements. Bidding increments are at the sole discretion of the Auctioneer. No absentee or phone bids will be accepted at the auction without prior approval of the Auctioneer. All decisions of the Auctioneer are final. Disclaimer: All field boundaries are presumed to be accurate according to the best available information and knowledge of the Seller and Peoples Company. Overall tract acres, tillable acres, etc. may vary from figures stated within the marketing material. Buyer should perform his/her own investigation of the property prior to bidding at the auction. The brief legal descriptions in the marketing material should not be used in legal documents. Full legal descriptions will be taken from abstract.
Major Jasper County, Iowa Land Auction – Mark your calendar for Thursday, May 25th, 2023 at 10:00 AM! Peoples Company is honored to represent the Healy Family in the sale of 1,183.97 total acres m/l of prime Jasper County, Iowa farmland through 11 different tracts ranging in size from 30.87 acres m/l to 316.07 acres m/l. Of the total 1,183.97 acres m/l in this complete portfolio, the Healy Family farmland includes 844 FSA cropland acres with an estimated 733.96 acres currently in row crop production carrying a CSR2 rating in the mid 60's to high-80's. There are 110.04 acres currently enrolled into Conservation Reserve Program (CRP) contracts that expire in 2026-2032. The remaining balance of the acres consists of quality timber and excellent recreation along the South Skunk River. Located in a strong farming community near several competing grain markets including both grain elevators and ethanol plants, these highly-tillable, contiguous tracts of farmland would make for a great add-on unit to an existing farm operation or investment-grade quality land purchase. This excellent land portfolio has been proudly owned by the Healy Family for many years with a long term tenant that has taken excellent care of the farm. Tract 1: 124.31 acres m/l with an estimated 121.67 FSA cropland acres carrying a CSR2 soil rating of 74.1. Tract 2: 30.87 surveyed acres m/l with an estimated 28.51 FSA cropland acres carrying a CSR2 soil rating of 89.5. Tract 3: 99.46 acres m/l with an estimated 96.79 FSA cropland acres carrying a CSR2 soil rating of 82.2. Tract 4: 33.27 acres m/l with an estimated 21.97 FSA cropland acres carrying a CSR2 soil rating of 61.1. Tract 5: 59.90 surveyed acres m/l with an estimated 53.08 FSA cropland acres carrying a CSR2 soil rating of 74.2. Tract 6: 40 acres m/l with an estimated 35.76 FSA cropland acres and a CSR2 rating of 87. Tract 7: 103.74 surveyed acres m/l with an estimated 105.81 FSA cropland acres and a CSR2 rating of 70.8. Of the 105.81 acres m/l 1.81 acres are enrolled into the Conservation Reserve Program (CRP)until 2032 with an annual payment of $438.22 ($242.11/acre). Tract 8: 156.66 surveyed acres m/l with an estimated 142.02 FSA cropland acres and a CSR2 rating of 71.7. Tract 9: 140.23 surveyed acres m/l with an estimated 129.53 FSA cropland acres and a CSR2 rating of 59.8. Tract 10: 316.07 acres m/l with 45.43 FSA cropland acres. Currently, the 45.43 FSA cropland acres are enrolled into the Conservation Reserve Program (CRP) with 42.72 acres enrolled in CP31 until 2026 with an annual payment of $11,583 ($271.13/acre), additionally, .63 acres are enrolled in CP21 until 2029 with an annual payment of $131 ($208/acre), and 2.08 acres enrolled in CP9 until 2032 with an annual payment of $503.58 ($242.11/acre). The overall annual CRP payment is $12,217.58. Tract 11: 79.46 acres m/l with 63.43 FSA cropland acres. Currently, the 63.43 FSA cropland acres are enrolled into the Conservation Reserve Program (CRP) with 61.42 acres enrolled in CP38E-2 until 2032 with an annual payment of $15,012 ($244.42/acre). Additionally, 2.01 acres are enrolled in CP21 until 2031 with an annual payment of $603 ($300/acre). The overall annual CRP payment is $15,615. The eleven tracts will be offered via Public Auction and will take place at 10:00 AM at the Jasper County Fair Grounds, Exhibit Hall, 359 N. Walnut Street, Colfax, IA 50054. The farmland tracts will be sold as eleven individual tracts using the "Buyers Choice" auction method on a price per acre basis, and the high bidder can take, in any order, one or all tracts for their high bid. "Buyer's Choice" auctioning will continue until all eleven tracts have been purchased and removed from the auction. Tracts will not be offered in their entirety at the conclusion of the auction. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available.