AUCTION OF 114.13 ACRES

LYON COUNTY, IOWA FARM LAND

             Tuesday, December 14, 2010  Starting at 9:00 A.M.

At the George Community Center, Main Street, George, Iowa

FARM #1 – 40 ACRES IN SECTION 8, DALE TOWNSHIP

The farm is located ¼ mile north of the intersection of 230^th Street (Blacktop A46) and Larch Avenue; 3 miles southeast of George, Iowa.  Auction sign will be posted.

LEGAL: “The Northeast Quarter of the Southeast Quarter of Section 8, Dale Township, Lyon County, Iowa.”

FARM INFORMATION:  Selling will be 40 acres, more or less.  FSA records show 38.8 tillable acres with a 19.3 acre corn base, 107 DY and 141 CC bushel yields.  Soybean base is 19.5 acres with a 39 DY and 47 CC bushel yields.  CSR rating for the property is 72.61 according to NRCS.  Soil maps show the majority of the farm in Primghar soil along with Marcus and Galva soil types.  Farm has been pattern tiled.  Current taxes for the farm are $1,130 per year.

FARM #2 – 74.13 ACRES IN SECTION 1, WHEELER TOWNSHIP

The farm is located near the southeast corner of George, Iowa along 215^th Street.  Auction sign will be posted.

LEGAL:  “Parcels J & L in the South Half of Section 1, Wheeler Township, Lyon County, Iowa.”

FARM INFORMATION:  Selling will be 74.13 acres, more or less.  FSA records show 44.5 acres enrolled in the CRP program and 11.17 tilled acres that are enrolled in the program.  Corn base is estimated at 11.17 acres with a 95 DY and 121 CC bushel yields.  CSR rating for the property is 57.48 according to NRCS.  The farm will be offered in two tracts and then combined.  Current taxes for the farm are $1,352 per year.

TRACT #1:  Lot 1 in Parcel J, a surveyed parcel of .50 acre with attractive income from cell tower lease.  Contact auctioneer for details.

TRACT #2:  Parcel J except Lot 1 AND Parcel L, surveyed acres of 73.63 acres that includes the tillable land, CRP contract and payments.  Contact auctioneer for details.

TRACT #3:  Combined parcel of 74.13 acres with all income sources.

TERMS:  Ten percent earnest money on day of auction.  Buyers will enter written agreement for purchase immediately following the close of bidding.  Sales are subject to District Court approval for the Estate and Executor’s approval.  Balance due on or before February 15, 2011, when court officer deed and abstract will be delivered.  Estate will pay 2011 Fall and all prior installments of real estate taxes.  Contact auctioneer for details on income assignments and responsibilities.

DISCLAIMER:  All information contained in this advertisement and all related materials are subject to the Terms and Conditions outlined in the Purchase Agreement.  The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either expressed or implied concerning the property is made by the Sellers or the Auction Company.  Each potential bidder is responsible for conducting their own independent inspections, investigations, inquiries and due diligence concerning the property.  The information contained in this advertisement is subject to verification by all parties relying on it.  No liability for its accuracy, errors or omissions is assumed by the Seller or the Auction Company.  Conduct of the auction and increments of bidding are at the discretion of the auctioneers.  All decisions of the auctioneers are final.  Any announcements made the day of the sale take precedence over printed material or any other oral statements made.   Please contact auctioneers for additional information on the farm.

Ronald James Kruger Estate

James Haberkorn - Austin, Haberkorn & Kippley, Attorney for Estate

Klaassen Realty, Broker: Klaassen Realty is an agent for and is representing the Sellers for this auction.

Kevin T. Klaassen: 712-754-3500 – Auctioneer

See full bill & pictures also at www.klaassenrealty.com