Bredvick Land Auction

427.519 Surveyed Acres in Clay County, Iowa
Located 1 Mile North of Royal
Land to be sold in 5 adjoining tracts

Sale to be held at the farm site 1 mile north of Royal, Iowa on 150^th Avenue; OR 4 miles south of Spencer, Iowa on Hwy. 71 to Hwy 240, then 6 miles west to Royal, then north 1 mile on 150^th Avenue to 390^th Street.

           Owner: Omer Bredvick Estate
                    For More Information Contact:
                Hoover Real Estate Co.
                     (712) 262-9555

" Best Land You'll Find Outdoors!"

Flat, Black, Productive Farmland...OWN SOME OF IOWA'S FINEST!

Clifford D. Hoover - ALC, Broker
Clinton Jones - Auctioneer
Christopher A. Bjornstad - Attorney

Email: hooverre@ncn.net
Website: www.hooverrealestate.net
or call
(712) 262-9555

Plat Map

Tract #1

Watch for the upcoming Open House!
**3915 150^th Avenue, Royal, IA 51357** ACREAGE – 6.137 acres with a 4 bed-room home, corn crib, other miscellaneous smaller buildings, and a beautiful grove. The home features an attached breezeway & garage; full basement; 3 bedrooms & full bath up; bedroom,
½ bath, living room, dining room, & kitchen on the main level. The exterior has metal siding & asphalt shingles. It’s a terrific family home in a great location just 1 mile north of Royal. No FSA crop bases on the included tillable land will be conveyed. Estimated taxes are $676.

Tract #2
"Invest in the Good Earth" 82.426 SURVEYED ACRES – 78.4 CSR Expect outstanding yields from this parcel!
FSA Data:
80.1 A. Tillable 39.7 A. Corn Base 39.7 A. Soybean Base	Corn Yield: 124 Direct 153 C-C Bean Yield: 42 Direct 50 C-C
Estimated Taxes: $1497

Tract #3
"Under ALL is the LAND..." 88.093 SURVEYED ACRES – 79.6 CSR You can’t buy one any better than this!
FSA Data:
87.1 A. Tillable 43.1 A. Corn Base 43.1 A. Soybean Base	Corn Yield: 124 Direct 153 C-C Bean Yield: 42 Direct 50 C-C
Estimated Taxes: $1628

Tract #4
"Top quality Land PLUS Improvements for Depreciation!" 98.958 SURVEYED ACRES – 76.5 CSR
FSA Data:
92.3 A. Tillable 46.2 A. Corn Base 46.1 A. Soybean Base	Corn Yield: 124 Direct 153 C-C Bean Yield: 42 Direct 50 C-C
Estimated Taxes: $2474 Buildings: 32,000 Bu. Storage & Drying Morton Bldg. 54’ x 72’

Tract #5

"Top Producing Land...Good Pheasant Hunting, Too!"
151.905 SURVEYED ACRES – 81.2 CSR

FSA Data:

143 A. Tillable
71.9 A. Corn Base
52.2 A. Soybean Base

Corn Yield: 124 Direct
124 C-C
Bean Yield: 44 Direct
44 C-C

18.1 A. CRP

Annual Pymt. $3145

Expires 9/30/09

Estimated Taxes: $2934

Soil Map

Email: hooverre@ncn.net
Website: www.hooverrealestate.net
905 South Grand Avenue
P.O. Box 7978
Spencer, IA 51301
(712) 262-9555

TERMS OF THE AUCTION:

METHOD OF AUCTION: This property will be offered in 5 individual tracts & will not be offered in combination. Tract #1 will be sold first, then Tracts #2, #3, #4, & #5 are to follow consecutively. Each sale shall be final. Bids on Tracts #2, #3, #4, & #5 will be based on the gross surveyed acres in each tract.

DOWN PAYMENT: A down payment equal to 10% of the purchase price will be required the day of the auction, & Buyer(s) shall sign a real estate contract requiring the balance to be paid by certified funds at closing on or before March 1, 2004 on Tracts #2, #3, #4, & #5. On Tract #1 possession and closing shall be upon receipt of final payment within 30 days, or as soon as merchantable title can be conveyed.

BIDS NOT CONDITIONAL UPON FINANCING: It shall be the responsibility of the Buyer(s) to obtain any necessary financing prior to the auction.

ACCEPTANCE OF BIDS: All final bids are subject to the Seller’s acceptance.

POSSESSION: Possession shall be upon receipt of final payment and closing. The CRP Program payment due in 2004 shall be prorated between Seller & Buyer(s).

TAXES: Owners will pay real estate taxes due Spring & Fall 2004 on Tract #2, #3, #4, & #5. The Owners will pay real estate taxes prorated to the date of possession & closing on Tract #1.

EVIDENCE OF TITLE: Owners shall furnish the Buyers an Abstract showing good title. The Buyers are responsible for obtaining a title opinion.

DISCLAIMER: All information has been taken from sources deemed to be reliable; however, no guaranty of its accuracy is made or implied by Owners, Broker, or Auctioneer. Buyer(s) are advised to make their own inspections and do independent research, including confirmation of FSA information, on the properties. Announcements made the day of the sale shall supercede any previous information. Hoover Real Estate Company, its affiliated licensees, & the Auctioneer represent the Owners exclusively in this real estate auction.