Tract 5: 156.21+/- Acres

General Description

Tract 5 is currently all pasture. There is a submersible well right by the road with underground pipe to the water tank located where the 4 way cross fence intersects. There is a dam and some tree cover on this tract. There is a good gravel road access. There is farm ground all the way around this tract so it has cropland development potential. The FSA information shows a history of 17.3 acres of cropland.

Please Note the Special Bidding Instructions on Tracts 4 & 5

The scheduled closing time on Tracts 4 & 5 will be automatically extended when any one of the tracts receives a bid in the last 5 minutes and will close simultaneously when none of the tracts receives a bid for 5 minutes. This will allow bidders to monitor each tract without the fear of missing out on any one tract.

Bid Increment

The bidding increments will be $50 per acre. The final sale value will be calculated based on 156.21 acres times highest bid.

BIDDING PROCESS:

You may place bids on this farm beginning January 11. Bidding concludes on January 25th. This unreserved online auction features bidding extensions. If a bid is received within five minutes of the scheduled ending time, the bidding period is automatically extended for five more minutes. The extension process will continue until there is a five-minute period where no bids are placed. NOTE: Do not wait until the last day of the auction to register to bid online. All bidders must be approved to bid. Register at least 24 hours prior to the last auction day or call 402-564-3369 for assistance.

Legal Description:

NW¼ of Section 28-18-8W Boone County, NE containing 156.12+/- acres

2017 Real Estate Taxes:

$1805.12

Land Location:

From Cedar Rapids, Nebraska, go 6 miles west on HWY 56, then 2 miles south on 120th Ave. The land is on the east side of the road.

Terms

The successful high bidder of each tract will be required to enter into a written purchase agreement. Buyer must make a 15% non-refundable down payment payable to BigIron Realty Trust Account. The earnest deposit can be made by a personal check, company check or by wire transfer. The balance will be due at closing on or before March 1, 2018. Buyer will receive full possession on March 1, 2018. Seller will provide marketable title to the buyer evidenced by Title Insurance. Boone County Title and Escrow will facilitate the closing. Title insurance and closing costs will be split 50/50 between the buyer and seller on each tract. The current year real estate taxes will be paid by the Seller and 2018 Real Estate Taxes will be paid by the Buyer. Property will not be sold subject to financing. Please have all financial arrangements made prior to the auction. The written purchase agreement to be signed by the seller and buyer after the auction is the sole and controlling document of this sale and supersedes all terms whether verbal, written, expressed or implied and shall be the sole and controlling document for this real estate transaction. BigIron Realty is working for the seller.

Seller:

Geri A. Jasper and James J. Vanderloop, Trustees of the Mary Ann Vanderloop Revocable Trust

Seller’s Attorney:

Jarecki, Yosten & Maul, P.C., L.L.O.

Title Services:

Boone County Title & Escrow, LLC

For more information, contact listing agent:

Mark Stock 402-276-2077