Drefke Farmland

152.88 +/- ACRES IN CHEROKEE CO, IA @ LIVE & ONLINE AUCTIONFriday, October 22, 2021 @ 10:30 AM152.88 +/- acres in Section 30-93-42, Marcus Twp, Cherokee CoAuction to be held at the Marcus Community Building, 319 N Main Street, Marcus, IANeal D. Drefke Living Trust & Julie R Wittrock Location: From the north side of Marcus, IA on Hwy 143 go 1 mile north then 2 miles west on 470th St. Auction signs will be posted. General Description: Selling will be 152.88 +/- acres of Marcus Twp, Cherokee Co farmland. The farm is level to gently sloped. The primary soil types on the tillable acres consist of the Galva, Marcus, and Primghar series. The farm has an estimated average CSR 1 of 75.9 and an excellent CSR 2 of 96.7. According to the FSA office the farm has approx. 151.57 cropland/tillable acres with the remainder as road and ditch. Brief Legal Description: The SE 1/4 excluding Parcel A in Section 30-93-42, Marcus Twp, Cherokee County, IA. Property contains 152.88 +/- acres. Corn Base/Corn Yield: The corn PLC yield is 167 bushels and the soybean PLC yield is 50 bushels. The corn base is 94.63 acres and the soybean base is 56.77 acres. Wind Lease: There are no wind turbines on this farm. Although there is a wind lease. This lease has a term of 37 years beginning October of 2016. The original payment was 152.88 acres times $6.25 with payment escalations of 2.5% per year. All wind lease payments for 2022 and thereafter shall be paid to the buyer and the buyer shall assume all of the sellers obligations under the lease. However if the windfarm ceases to operate, the project would be decommissioned and the leases would be terminated. There is no guarantee that this lease will be effective for the full 37 years. Weather Tower: There is a permanent MET tower on the farm towards the NW corner. The contract began in 2019 and scheduled to run for 20 years. The contract can be terminated at the MET towers discretion any time prior to the 20 year term. Currently there is a $3000 payment per year. All 2022 payments and thereafter will be paid to the buyer and the buyer shall assume all of the sellers obligations under the contract.Farm Real Estate Taxes: Sellers will pay all real estate taxes which would become delinquent if not paid by October 1, 2022, as well as all prior taxes. The estimated net annual real estate taxes are $5224. Method of Sale: Bid price per acre times 152.88 +/- acres sold via live and online simultaneously. Terms: 10% down upon conclusion of the auction. The abstract will be continued to date. The buyers will have 10 days from receipt of abstract to have the abstract examined. The sellers guarantee a clear and marketable title on the property. The owners reserve the right to reject any and all bids. A late charge will apply for buyers delaying the closing. Online bidders must agree to these terms and conditions as well as online conditions prior to registering and must be verified 24 hours prior to start of auction. Possession/Closing: December 17, 2021 (Subject to current lease which will expire March 1, 2022)Tile Info: In 2019 there was $10,368 spent on tiling with Schmillen Construction, Marcus, IA. Company Note: We are pleased to be offering this excellent Cherokee County farmland located near Marcus, IA. This farm is located near several great grain marketing opportunities! This farm will be offered via live and online simultaneous bidding. Check out our website at www.vw72.com for additional information. The farm will sell from the Marcus Community Building on Friday, October 22nd. We thank you for your interest. If you have any questions please give us a call. Rich, Todd, Levi, and ShannonNote: This farm is being sold "as is." While every effort has been made to ensure the accuracy of the information herein provided, no warranty is given and no responsibility is assumed by the auction company, the auctioneers, the seller or their agents concerning condition of the property, the corn bases, corn yields or other supplied information. Property is being sold subject to any easements, including road, drainage, utility or other easements of record. All prospective purchasers are encouraged to inspect and verify information provided herein. Vander Werff & Associates Inc., represent the sellers for this transaction. Any announcements made the day of will supersede this advertisement. View our website for more info or to register to bidwww.vw72.comVander Werff & AssociatesSanborn, IA 51248712-729-3264Rich Vander Werff 712-261-0298Todd Hattermann 712-348-0111Levi Mouw 712-441-6898