Virtual Online Auction
Sale Date: Monday, July 10, 2023
Sale Time: 10:00 AM CST
Seller: Elsie B. Tweedy Trust
332.97 Acres • 5 Tracts
SOLD!
Tract 1 – $322,500.00 lump sum
Tract 2 – $4,125.00/acre
Tract 3 – $4,000.00/acre
Tract 4 – $5,300.00/acre
Tract 5 – $6,200.00/acre
Total – $1,698.220.00
We are aware several storms have impacted Lee County, IA and surrounding areas late last week. We have received numerous calls asking if the auction will be conducted as scheduled. At this time, this auction will proceed as scheduled!
Tract 1 sustained damage to several structures including a building, grain bins and other outbuildings. The home on the parcel sustained some minor damage including some soffit and a down spout, these items should be fixed prior to closing. We urge potential bidders and all interested parties to please do your due diligence on this tract and feel free to make an onsite visit at your convenience prior to Monday’s auction. As other developments arise, we will either add them to the website or make announcements at the beginning of the VIRTUAL ONLINE LAND AUCTION.
Please check back often for any further updates.
LOCATION
The Tweedy Farm is located in Sections 22, 23, 26 & 27, Montrose Township, Lee County, Iowa, 9 miles north of Keokuk, IA or 40 miles southeast of Mt. Pleasant, IA. From Keokuk, IA go north 7 miles on U.S. Hwy. 218 to 320th St. Turn right or east and proceed 1½ miles to the farm.
Open House: Tuesday, June 27 • 4:00 – 5:00 PM
Physical Address:
2582 320th Street
Montrose, IA 52639
Mark your calendars now to participate in this upcoming large Lee County, Iowa land auction. Tract 1 of the Tweedy farm features a single story brick ranch style home, a near new 2 stall detached garage & several useable storage structures as well as a nearly 3 acre pond. The balance of the farm offers it all including productive tillable farmland that is currently in income producing CRP and highly desirable hunting & recreational acreage and includes several attractive home building sites.
We urge you to take a look at this nice southeastern Iowa property that has been in the Tweedy family for many years! This is an auction you will not want to miss!
Elsie B. Tweedy Trust
Linda Mullen | Trust Officer | Connection Bank
2119 Main Street | Keokuk, IA 52632 | (319) 524-2944
Representing Attorney:
Laura M. Krehbiel | Krehbiel Law Office, PLC
712 Orchard Street | Donnellson, IA 52625 | (319) 569-0498
Auction Representatives:
Jim Huff (319) 931-9292
John Probasco (641) 856-7355
AERIAL VIDEO
TRACT INFORMATION
Tract 1 • Country Home & 14.51 Surveyed Acres
- This tract is improved with a nice brick ranch style home that offers 3 bedrooms, 1½ baths and 1,260 sq. ft. of living area. The dwelling includes a full basement with plenty of storage area as well as central air. The tract also features a recently built 24ft. x 32ft. 2 car garage, a 31ft. x 37ft. Quonset style building that has a concrete floor & heat, a 30ft. x 90ft. Quonset style storage building, over 25,000 bu. of grain storage and several very usable buildings.
- There is a nearly 3 acre stocked pond located on this tract.
- Rathbun Rural Water supplies the water source.
- FSA information indicates approximately 3 acres of tillable cropland that is currently in CRP (CP38-25) with a payment of $121.57 per acre expiring in 2030.
- If you are looking for a well-cared for property located in the Tri-State area we urge you to take a look at this one, it is a must see property!
- Access is on the north by 320th St.
Tract 2 • 168.76 Surveyed Acres
- FSA information indicates 123.69 acres of tillable cropland. 100% of the cropland acres are in CRP, including 89.01 acres in CRP (CP38-E-25) with a payment of $121.57 expiring in 2030, 34.27 acres in CRP (CP25) with a payment of $168.90 per acre expiring in 2026 and .41 acres in CRP (CP21) with a payment of $272.40 per acre expiring in 2026. The balance of the tract is in a creek bed and wooded draws offering attractive hunting recreational acreage. There are 3 ponds located on the tract.
- Nodaway-Cantril, Clinton & Lindley soils.
- CSR2 is 43.
- Access is on the north by 320th St. via a driveway that will require construction. Said driveway has been approved by the Lee County Engineers Office and subject to their specifications. All construction cost will be the responsibility of the buyer.
Tract 3 • 97.25 Surveyed Acres
- FSA information indicates approximately 59.17 acres of tillable cropland, including 54.01 acres in CRP (CP38E-25) with a payment rate of $121.57 per acre expiring in 2030. The balance of the tract is in a creek bed & hardwood timber draws offering desirable hunting & recreational acreage.
- Clinton, Nodaway & Keswick soils.
- CSR2 is 42.
- Access is on the north by 320th St. via a driveway that will require construction. Said driveway has been approved by the Lee County Engineers Office and subject to their specifications. All construction cost will be the responsibility of the buyer.
Tract 4 • 38.45 Surveyed Acres
- FSA information indicates 34.33 acres of tillable cropland, that is currently in CRP (CP38E-25) with a payment of $121.57 per acre expiring in 2030. The balance of the tract offers a nice pond.
- Givin, Clinton & Pershing soils.
- CSR2 is 69.6.
- Access is on the south by 320th St. & on the east by 260th Ave.
Tract 5 • 14 Deeded Acres
- FSA information indicates 12.02 acres of tillable cropland, that is currently in CRP (CP38E-25) with a payment of $121.57 per acre expiring in 2030. The balance of the tract is in a wooded area in the southwest portion.
- Fayette-Exette & Lindley soils.
- CSR2 is 51.6.
- Access is on the south by 320th St.
PLEASE NOTE:
Tracts 2 & 3 are being sold subject to a pipeline easement which Seller has already granted to Navigator Heartland Greenway, LLC (“Navigator”). Navigator has certain rights pursuant to (1) a Pipeline Right-of-Way and Easement Agreement and (2) a Right of Entry, Easement, and Option Agreement, collectively referred to as “the Easement Agreements”, which have already been executed by Sellers and Navigator. A Memorandum of Agreement concerning the Easement Agreements was recorded in Lee County on June 30, 2023 at Book 2023, Page 2371. Sellers hereby retain the right to receive any future Easement Consideration payments to be paid by Navigator pursuant to the Easement Agreements, and Sellers shall assign to Buyers the right to receive future Crop Damage and Miscellaneous Damage payments to be paid by Navigator pursuant to the Easement Agreements. Both future payments mentioned above will only be paid if Navigator exercises its Option pursuant to the Easement Agreements.
METHOD
The Tweedy farm will be sold in 5 individual tracts based on a survey that has recently been completed. Tract 1 will be sold first for a lump sum total dollar amount. Tracts 2-5 will be sold next on a price per acre basis through the marketing method of “Buyer’s Choice”, whereas the high bidder has the privilege to take any or all tracts for their high bid. Buyer’s Choice auctioning will continue until all 4 tracts have been sold. The tracts will NOT be offered in its entirety or in any combinations. Bidding is NOT contingent upon financing, an appraisal or inspection.
TERMS
Ten (10%) percent of the bid price to be due on the day of sale with the balance due in approximately 45 days, on or before Thursday, August 24, 2023 upon delivery of a merchantable abstract and deed.
At the conclusion of the auction, the successful bidder(s) shall enter into a written agreement with the seller. Signing of said agreement will be executed via email or DocuSign. The real estate taxes will be prorated to the date of closing. Full possession will be given at the time of closing on all tracts. Tract 1 is serviced by a private septic system and is subject to the Iowa Septic System Law, this property is in a trust, therefore it is exempt from any testing or upgrades, any future testing or upgrades will be at the buyer’s expense. For questions or complete details contact the auction company.
The information 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, etc. are approximate. The Buyer acknowledges that they have carefully and thoroughly inspected the real estate and are familiar with the premises. The Buyer is buying this real estate in its “as is” condition and there are no expressed or implied warranties pertaining to the real estate. All announcements sale day shall take precedence over any prior advertising either written or oral.
