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Property Listing Detail Page, Cerro Gordo Co, IA  CJS - 75.5 acres, Mason City, Iowa

    

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Description of Property

Located in central Cerro Gordo County in Section 6  Mason Township. This farm is located in the northwestern city limits of Mason City on the northeast corner of North Eisenhower Avenue and 12th Street Northwest. Per acre bids will be based on 75.5 tillable acres.

Description of Arrangement

1. The land will be leased for the 2011 and 2012 crop years with possession beginning on 3/1/11 and ending on 11/1/12 or after harvest. With consent of the landlord and tenant leases can be extended 3-5 years.
2. Crop rotations other than a corn-soybean rotation should be noted in the bid proposal or need approval of the landlord after a tenant has been chosen. All bids will be kept confidential. The landlord reserves the right to refuse any proposal
3. The landlord will pay to repair any tile (if any) problems on existing tile and will consider proposals for improving any long term drainage issues depending on the cost and extent of the need. Tenants are responsible for mowing and/or spraying roadsides and reasonable non-crop areas to keep control of noxious weeds and brush and present a good farm appearance. The 2008 tenants were not authorized to perform any fall fieldwork, but if some has been completed, the new tenants will be required to pay for any fieldwork at ISU Extension custom rates.
4. Upon successful notification of the tenant, a lease will be signed within 10 days of acceptance. An initial rent of 10% of the annual lease amount will be paid at the signing of the lease. The rest of the 2009 rent payment will be paid based (less 10%) upon the accepted terms.
5. In the event of a sale, the Owner has the right to cancel the lease prior to 3/1/10 with a $50/tillable acre payment to the tenant plus reimbursement of fall fertilizer and fieldwork.
6. Extensions are possible at the option of both the tenant and landowner based upon the ratio between the actual rent per acre for the first 2 years divided by the local county overall average cash rent as determined by the ISU Cash Rent Survey published in the spring prior to the adjustment year. For instance if the agreed cash rent for a lease is $250/acre and the overall average cash rent in May of 2011 for the corresponding Iowa county is $200/acre then the ratio is set at 125% (250/200). If in May 2012 the overall average rent is $210 according to the survey then the rent would potentially adjust to $262.50/acre for the 2013 crop year. The owner and tenant would both have to agree to extend the lease prior to September 1, 2012. This adjustment scenario could potentially go on for an indefinite time until one or both parties decides not to continue.
7. Tenants will be required to provide evidence of at least $1 million liability coverage with the owner named as other insured.
8. All tenants will be required to fertilize for phosphorous and potash each year up to crop removal for 180 bu/acre corn and 50 bu/acre soybeans. Evidence will be required to very fertilizer application. Tenants are required to provide the landlord any soil tests performed on the farm.
9. Tenants are required to provide a grid sampled soil test of the farm within 6 months of lease signing. The cost of the soil test will be borne by the tenant (or borne by the landlord up to $4/acre)
10. Tenants will be required to complete a form provided or provide their own farm report including crops and acres planted, plat date, fertilizer applied, chemicals and fungicides applied, harvest date and yield. Yield monitor results and/or scale tickets are preferred for yield verification. Priority may be given to operators that can assure the owner they will be provided accurate yield monitor results.

Legal Description

75.5 acres in the S 1/2 of the NW 1/4 of 6-96-20 Mason Township, Cerro Gordo County

Property Detail

Auction Status:Closed
Auction Starts:Wednesday, September 15, 2010 Noon (CST)
Auction Ends:Friday, October 15, 2010 Noon (CST)
Lease Type:Cash/Rent
Lease Length:2 crop years plus possible extensions
Section, Township:6 (section), 96 (township), 20 (range)
County:Cerro Gordo
Street Address:
City:Mason City
State:Iowa
Zip Code:50401
Total Number of Acres:75.5
Tillable Acres:75.5
Pasture Acres:0
Hay Acres:0
Farm Characteristics:75.5 cropland acres;79.38 average CSR (County Assessor)
Conservation Plan:
Yield History:Corn Base = 56.5;Corn Direct Yield = 123;Corn Counter Cyclical Yield = 126;Soybean Base = 19;Soybean Direct Yield  = 37;Soybean Counter Cyclical Yield = 44;2008 Certification - 75.5 acres of corn
Recent Improvements:New wider entrance driveway in 2007
Drainage Information:
Water Availability:Drainage information is mostly unknown but no immediate needs have been brought to our attention.
Fencing:
Other:Please do not drive on the property.  Walking inspections are permitted.

Supplemental Information

Property Images

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