Name Bob Glace Cash Rent Auction
Auctioneer DreamDirt Farm and Ranch Real Estate, LLC.
Type Online-Only Auction
Date(s) 2/22/2017 - 3/2/2017
March 2nd, 2017
Preview Date/Time Prior to the auction
Checkout Date/Time March 10, 2017
Location 101 S. Noyes Street
Mondamin, IA 51557
Buyer Premium None
Description
This is an online ONLY auction for the lease of farmland in Monona County Iowa. There will NOT be a live auction. All bidding will be soft close with extensions for bids in the last 2 minutes of bidding. Bidding will start to end at 3PM on March 2nd.
Farmland Lease Auction Robert Glace will offer his 1689.43 Acres of farmland in Monona County Iowa for lease for a 3 year period in 4 tracts. The terms of the lease shall remain the same from year to year with the exception of cash rent which will be negotiable each year based on current commodity markets and agreement of the tenant and landlord. The rate of rent sent by this auction will be effective for 2017 only. Tenant and landlord will re-negotiate 2018 and 2019 rents. Terms of the lease will include Tenant to provide the results of soil samples in year 2 of the lease for the landlord. Tenant will be agreeable to soil amendments based on results of soil samples and cooperate with the landlord to determine appropriate amendments and fertility requirements for the farms. Tenant will be responsible for all weed control on the farms. If grain bins exist on a farm leased the operator may use the bins with no additional charge and shall be responsible for all repairs necessary to use the bins. Where water wells are present on the farm the tenant may use the water wells and shall be responsible for any repairs or maintenance costs associated with the wells during the term of the lease. Any irrigation pivots on the farms today are not owned by the landlord and are not a part of this lease. The tenant will not be responsbile for moving the pivots. Tenant shall be responsible for insuring their equipment and operation against liability and casualty events. No hunting will be allowed on the farms without written permission from the landlord. Tenant will be prohibited from using the farms for any livestock holding or grazing. All bids will be made on a per acre basis based on the following multipliers Tract 1 multiplier 322.78 Tract 2 multiplier 480.74 Tract 3 multiplier 313.83 Tract 4 multiplier 572.07 In 2017 rents will be due on March 10th and in subsequent years rent will be due on March 1 of each year. The successful bidder will be required to enter into a written lease with the landlord. You will not be the successful bidder until you are notified by the auctioneer by telephone that you are in fact the high bidder. At times technology can fail, we are not responsible should any type of technology failure prevent you from bidding or placing bids. If you are unable to bid you can call 712-592-8965 to talk to the auctioneer during the close.
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 240.00 10.00 USD
240.01 - 500.00 5.00 USD
500.01 - 9,999,999.99 10,000.00 USD
Currency USD
Buyer Premium None
Payment Terms
March 10th to be arranged with the landlord