R. Hiatt Enterprises, LLC on behalf of the Rouse Family Trust is pleased to offer this highly productive Warren County, Indiana farm for sale by on-line auction as one tract. Bidding will start at 9:00am Eastern Standard Time and conclude at 1:00pm Eastern Standard Time. This farm has been well maintained with a fertility program incorproated since 2018 that targeted a replacement plus buildup program for optimizing yeild potential. Limestone, phosphorus, and potassium have been applied as required by the soil test. 2018 soil test data indicated a pH of 6.49, P1 (ppm) - 29, K1 (ppm) - 98. Extensive conservation work has recently been completed to include surface inlets, rock shoots, and filter strips which are enrolled in the CRP program. All improvements were targeted to enhnace drainage and eliminate sediment deposts ocurring in the ditches. The drainage dtiches have been maintained to keep the water flowing freely through the farm. There are several tile lines intersecting the farm which contributes to enhanced drainage. Grain marketing is very competitive in the immediate area with 3 major grain companies competing for grain within a 10 mile radius. Bunge Milling is located on the east edge of Danville, IL, ADM is located in Stateline City, Indiana, and Bismarck Grain, Bismarck, IL all have strong grain markets and trransprotation cost is minimal.
USDA/FSA data: Farmland - 271.6ac; Cropland - 257.83ac; DCP Cropland - 242.33ac; CRP Cropland - 15.5ac
Acreage/Yield Bases: Corn 133.7ac-153bu/ac; Soybeans 108.63ac-42bu/ac.
CRP Contract: 15.5ac filter strips enrolled 9/30/2019 expires 9/30/2029. Payment rate is $211.60/ac ($3280/yr).
Yield History:
Year Corn bu/ac Soybeans bu/ac
2018 200 -0-
2019 192 -0-
2020 -0- 73.7
2021 217 -0-
Procedure: The property will be offered as one tract in a virtual online auction format. Bidding and livestream viewing will be available at WWW.Hiattland.bidwrangler.com. Bidding will be on a dollars per acre basis and the final purchase price will be determined by multiplying the high bid by the stated acres. Registration: All bidders are required to register at WWW.Hiattland.bidwrangler.com no later than March 27,2023 at 12:00pm CST . Once the online registration form is filled out, it will be automatically sent to Hiatt Farmland Services for approval to allow bidding. Auction company may request a letter of recommendation from prospective bidder’s financial institution stating funds are available for the 10% deposit and that bidder has the financial capacity for final purchase.
Acceptance of Bid Prices: The successful high bidder will enter into a Contract to Purchase immediately following the close of bidding for presentation to the Seller. Final bid price is subject to approval or rejection by the Seller. Upon the close of the auction the winning bidder will either sign the Contract to Purchase in DocuSign or be forwarded via email or fax a contract to purchase. A signed copy of the contract must be returned and received by Hiatt Farmland Services on or before 12:00 o'clock. P.M. CST, Friday March 31, 2023 (faxed to 217-253-8646) or scanned and emailed to Russ@hiattland.com.
Down Payment: A 10% non-refundable down payment of the total contract purchase price will be due within 24 hours of the close of the auction from the winning bidder. The down payment may be paid in the form of a wire transfer, personal check, business check or cashier's check. Should the winning bidder not be approved by the Seller, the down payment shall be returned to the bidder as soon as practicable. Payment shall be made to the escrow agent to be determined at a later date. The balance of the contract purchase price is due in cash at closing. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING.
Closing: The closing shall take place on or before Friday ,May 1, 2023 Possession: Possession will be given at closing. Tenant rights are opoen for the 2023 crop year.
Title: Seller will provide a proper deed conveying merchantable title to the real estate to the successful buyer free and clear of liens as well as title policy for the amount of the purchase price.
Real estate taxes and assessment: The 2022 calendar year taxes due and payable in 2023 will be paid by the seller. The Seller's payment shall be in the form of a credit at closing. The most recent tax figures available will be used to determine the amount of credit. The 2023 calendar year taxes and beyond will be the responsibility of the buyer(s).
Survey: A survey of the farm will not be completed unless necessary to be able to leaglly describe the property sufficient for transfering title of the proerty to the buyer. If a survey is completed for closing on this transaction the surveyed acres shall be used to determine the final selling price based on the buyer's per acre bid price time the number of acres determined by the survey.
Mineral rights: The sale shall include any and all mineral rights currently owned by the seller, if any.
Acreages: All acreages are approximate and have been estimated based on current legal descriptions, Real Estate tax documents with Mason County Assessor's office, FSA records and aerial mapping software. The following acres will be used for bidding purposes: 159.62 acres
Easements and leases: The sale is subject to any and all easements.
Disclaimer: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the agreement to purchase. The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either express or implied, concerning the property is made by the Seller or Hiatt Farmland Services. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is believed to be accurate but is subject to verification by all parties relying on it. No liability for its accuracy, errors or omissions is assumed by the Seller or Hiatt Enterprises. All sketches and dimensions in this brochure are approximate. All acreages are approximate and have been estimated based on legal descriptions or aerial photographs. Conduct at the final round of bidding and increments of bidding are at the discretion and direction of the seller's agent. The seller and Hiatt Farmland Services reserve the right to preclude any person from bidding if there is any question as to the persons credentials, fitness, etc. Under no circumstances shall bidder have any kind of claim against Hiatt Farmland Services or anyone else if the Internet service fails to work correctly before or during the auction.
Agency: Hiatt Farmland Services and its representatives are exclusive agents of the seller.
Seller: David Etzen
