1st State Bank Booklet

1st State Bank Booklet

VIRTUAL ONLINE

MAHASKA COUNTY, IOWA LAND AUCTION MONDAY, AUGUST 29, 2022 AT 10:00 A.M. 248 ACRES± (SUBJECT TO SURVEY) • SELLING IN 2 TRACTS

1ST STATE BANK - SELLER Representing Attorney: Matthew Laughlin | Dentons Davis Brown PC The Davis Brown Tower | 215 10th Street, Suite 1300, Des Moines, IA, 50309 Phone: (515) 246-7934

Auction to be conducted as a virtual, online auction. If you need assistance with internet bidding, please contact our office at (844) 847-2161

ONLINE BIDDING POWERED BY:

AUCTION MANAGER: John Probasco (641) 856-7355 DETAILS, MAPS, PHOTOS & BIDDING: SullivanAuctioneers.com SULLIVAN AUCTIONEERS, LLC | LICENSE #444000107

LOCATION These farms are located in Section 22, Monroe Township and Section 36, White Oak Township, Mahaska County, IA near Rose Hill, IA. (Rose Hill, IA is located 11 miles east of Oskaloosa, IA.) Tract 1 is generally located 4 miles north of Rose Hill, IA. From Rose Hill, IA take Co. Rd. V13 (Urba- na Ave.) north 3½ miles to 195th St. Turn right or east and proceed 1½ miles to the tract. Tract 2 is generally located 6 miles southeast of Rose Hill, IA. From Rose Hill go south 4½ miles on Co. Rd. V13 (Ventura Ave.) to 275th St. Turn left or east & south and proceed 1 mile to 280th St. Turn left or east and go 2 miles to York Ave. Turn left or north and go a short distance to the tract. (Be watching for presale directional signs) TRACT INFORMATION TRACT 1 - 120 ACRES± (subject to survey) • FSA information indicates 94.98 acres of till- able cropland, including 45.13 acres in CRP. There is 44.40 acres in CRP (CP23) with a pay- ment of $226.58 per acre expiring in 2024 and there is 2.73 acres in CRP (CP42) with a pay- ment of $271.44 per acre expiring in 2027. The balance of this tract includes desirable recre- ational acreage with Middle Creek access and wooded draws. • Nodaway, Colo & Clinton soils. • CSR2 is 69.4 • This tract is improved with several areas of ter- races with tile inlets. • Access is on the south by 195th St. and on the west by Ventura Ave. TRACT 2 - 128.37 TAXABLE ACRES± • FSA information indicates 73.74 acres of till- able cropland. The balance of the tract is in im- proved pastureland and hardwood timber ar- eas offering attractive hunting and recreational acreage. • Clinton, Caleb & Emeline soils. • CSR2 is 38.7 • This tract is improved with a 42’ x 46’ machin- ery/livestock building, cattle holding pens, a nice large pond and a small pond. • Access is on the east by York Ave. & on the south by 275th St.

TRACT 1

TRACT 2

METHOD & TERMS The 1st State Bank farm will be sold on a price per acre basis. Tract 1 will be sold first, based on a survey that is currently in progress. Tract 2 will be sold next, based on the taxable acres. The tracts will NOT be offered together at the conclusion of the auction. Bidding is NOT subject to any contingencies, including but not limited to financ - ing, appraisal, or inspection. Ten (10%) percent of the bid price to be due on the day of sale with the balance due in approximately 30 days, on or before September 29, 2022 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. The real estate taxes will be prorated to the date of closing. Possession on both tracts will be given at the time of closing subject to a lease with the current tenant for the 2022 crop year. All announcements sale day shall take precedence over any prior advertising either written or oral. The infor- mation 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, drone video, etc. are approximate. Buyers should verify the in- formation to their satisfaction. There are no expressed or implied warranties pertaining to the property. The real estate is being sold “As Is”.

FIRST CLASS U.S. POSTAGE PAID QUINCY, IL PERMIT 23 62301

PO Box 111 • Hamilton, IL 62341-0111 www.SullivanAuctioneers.com

248 ACRES± (SUBJECT TO SURVEY) SELLING IN 2 TRACTS

VIRTUAL ONLINE | MAHASKA COUNTY, IOWA LAND AUCTION MONDAY, AUGUST 29, 2022 AT 10:00 A.M.

1ST STATE BANK - SELLER

DETAILS, MAPS, PHOTOS & BIDDING: SullivanAuctioneers.com SULLIVAN AUCTIONEERS, LLC | (844) 847-2161 | LICENSE #444000107