Guthrie County, Iowa Farmland Auction - Mark your calendar for Friday, December 6th at 10AM! Peoples Company is pleased to be representing the Marshall E. Hathaway Trust in the sale of 157 acres m/l located 3.5 miles east of Panora, Iowa on the Guthrie / Dallas County line. Situated in Section 36 of Cass Township, this tract features 149.36 FSA tillable acres carrying a CSR2 soil rating of 84.6, well above the Guthrie County average CSR2 soil rating of 63. Prominent soil types include Clarion loam, Webster clay loam, and Canisteo Clay loam.

Of the tillable acres, there are currently 1.76 acres certified as grass in a waterway and 4.21 acres enrolled in the Conservation Reserve Program (CRP) under the Grass Waterway Program (CP8A). This Contract was initially enrolled in October 2002 and has been continuously enrolled since. It's most recent re-enrollment date was October 2022 and is set to expire September 2032. The annual payment is $1,248 or $296.34 per acre. See the attached 'CRP Map' for more details. A Wetland Determination was completed in 1988 and determined there were no wetlands on the tract. This farm is classified as Non-Highly Erodible Land (NHEL).

This farm is located 1/2 mile north of Iowa Highway 44, offering easy access to area grain markets, including the Landus Cooperative in Panora, Iowa. The farm would make for a great add-on to an existing farming operation or a good farmland opportunity for an investor looking to diversify their portfolio. The single tract will be offered on a price-per-acre basis via a Public Auction and will take place on Friday, December 6th, 2024 at 10:00 AM CST in the Panora Community Center in Panora, Iowa. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available.

Note: There is an easement for a Northern Natural Gas underground pipeline that runs through the northern half of the property. See the attached 'Pipeline Map' for approximate pipeline location. *There is no payment associated with the pipeline easement that an incoming buyer would inherit.

Auction Details & Terms

Guthrie County Land Auction

157 Acres M/L

Offered as One Tract

Friday, December 6th, 2024 at 10:00 AM

Seller: Guthrie County State Bank, as Trustee of the Marshall E. Hathaway Trust

Attorney for Seller: Eric Reinhart | Bruner, Bruner, Reinhart and Morton, LLP

Auction Location:

Panora Community Center

115 W. Main Street

Panora, Iowa 50216

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number to bid at the auction.

Online Bidding: Register to bid on our website. Potential bidders may have access to the live auction by utilizing Peoples Company's online auction platform via the Internet. By using Peoples Company's online auction platform, bidders acknowledge that the Internet is known to be unpredictable in performance and may, from time to time, impede access, become inoperative, or provide a slow connection to the online auction platform. Bidders agree that Peoples Company nor its affiliates, members, officers, shareholders, agents, or contractors are, in any way, responsible for any interference or connectivity issues the bidder may experience when utilizing the online auction platform.

Auction Method: The farmland will be sold as one individual tract on a price-per-acre basis to the High Bidder.

Farm Program Information: Farm Program Information is provided by the Guthrie 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 Guthrie 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 a check or wire transfer. All funds will be held in Peoples Company's Trust Account.

Closing: Closing will occur on or before Tuesday, February 4th, 2025. The balance of the purchase price will be payable at closing in the form of a guaranteed check or wire transfer.

Possession: Possession of the farm will be given At Closing, Subject to Tenant's Rights.

Farm Lease: The farm lease has been terminated and farming rights are available for the 2025 growing season.

Contract & Title: Immediately upon the 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. The sale is not contingent upon Buyer financing.

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. The winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made on 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. The buyer should perform his/her investigation of the property before bidding at the auction. The brief legal descriptions in the marketing material should not be used in legal documents. Full legal description will be taken from the Abstract.