HOOVER REAL ESTATE CO.
ABSOLUTE LAND AUCTION
Clay County – Clay Township

               9:00 A.M. Saturday, October 9th, 2004         

 80 Acres more or less
Sale to be held 4315 130th Avenue, Peterson, IA 51047
(from Royal, IA - 2 miles west on County Road B40 (400th Street) & 3 miles south on County Road M27(130th Avenue)

FARM LOCATION: From Royal, Iowa, 2 miles west on County Road B40 (400th Street), 3 miles south on County Road M27( 130th Avenue) and 1 mile east on 430th Street.
LEGAL: The South Half of the Southeast Quarter (S1/2SE1/4) of Section 22, Township 95 North, Range 38 West of the 5^th P.M., Clay County, Iowa (exact legal description to be taken from Abstract of Title)
TAXES:  Net annual taxes payable 2004 & 2005 - $1,170.00
                Net taxable acres - 75
FSA DATA:  77.8 Tillable acres       Corn Base - 37.2 acres    Corn Yield - 128 Bu.
                                                            Bean Base - 40.4 acres    Bean Yield - 40 Bu.
SOILS:  Primghar & Sac - Average CSR - 74.5
COMMENTS:  This farm is an excellent opportunity to add very productive Royal, IA farmland to your existing operation or a great investment unit to increase your net return on your capitol.
TERMS: Tract will be sold to the highest bidder with no reserved bid.  10% down payment will be required the day of the auction & Buyer shall sign a real estate contract requiring the balance to be paid by Certified Funds at closing on or before November 15th, 2004.  Bids are not contingent upon financing & Buyer is required to arrange for any necessary financing prior to the auction.  Possession shall be on closing, subject to Tenant's rights, which shall terminate at the end of the 2004 crop year on February 28th, 2005.  Owner shall pay real estate taxes due Spring & Fall 2005.  Owner shall furnish the successful Buyer Abstract showing good title.  Buyer shall be responsible for obtaining a title opinion.  Announcements made the day of the sale shall supercede any previous information.  Hoover Real Estate Co., its affiliated licensees, and the Auctioneer represent the Owner exclusively in this real estate auction.