PROCEDURE: The property will be offered in 1 tract of 356 acres. All bids will be dollars per acre.  Your bid will be multiplied X 356 to determine the gross sales price.
DOWN PAYMENT: 10% down payment will be due on the day of auction. The down payment may be made in the form of cashiers check, personal check, or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, all bids shall be made in cash.  Be sure you have arranged financing, if needed, or are capable of paying cash at closing.
ACCEPTANCE OF BID PRICES: All successful bidders will be required to enter into Purchase Agreements at the auction site immediately following the close of the auction. All final bid prices are subject to the Sellers acceptance or rejection.
DEED: Seller shall provide Warranty Deed(s). Real estate sold subject to all rights of way, legal highways, leases and easements of public road.
CRP INCOME: The 2010 payment due October 2010 will go to the buyer, there will be no proration of the CRP payment. 
CLOSING: The balance of the purchase price is due at closing, which will take place by April 2, 2010, or as soon thereafter as Sellers closing documents are available. Costs for an administered closing shall be shared equally between Buyer(s) and Seller. All lender costs shall be paid by the Buyer(s).
POSSESSION: Possession of the farmland will be given at closing and are not subject to any tenant rights.  You will have full posession at closing. 
REAL ESTATE TAXES: Taxes will be prorated to the date of closing.
DRAINAGE ASSESSMENTS: Buyer shall pay all drainage assessments and/or taxes due after closing.
ACREAGE: All tract acreages, dimensions, and boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.
SURVEY: The Seller shall provide the existing legal description, available for inspection to buyers prior to the auction. Any need for a new survey shall be determined solely by the Seller. Seller and successful bidder shall each pay halves of the cost of the survey.
PROPERTY INSPECTION: Each potential Bidder is responsible to conduct, at their own risk, their own independent inspections, investigations, inquiries and due diligence concerning the property. Please feel free to inspect the land at any other time at your own risk.
EASEMENTS: Subject to any and all existing easements.
AGENCY: Trophy Properties Real Estate, LLC. is a real estate brokerage and its representatives are exclusive agents of the Seller.  Jason Smith and Jeff Propst are licensed real estate salespersons in Iowa. 

The property is located at the intersection of 593rd Trail and 256th Street northwest of Moravia Iowa and southwest of Albia Iowa.  Follow signs on auction day off of State Highway 5 to the west. 

• Latitude 40°56'17.15"N
• Longitude 92°53'58.11"W