Fromm – +/-437.98 Acres with an Existing Farmstead, Established CRP & Pasture in Altamont Twp., Deuel Co., SD & Personal Property
June 28 @ 10:00 am
LAND & PERSONAL PROPERTY AUCTION
+/-437.98 Acres with an Existing Farmstead, Established CRP & Pasture – Situated in Altamont Township in Deuel County, SD and Within ½ Mile of Lake Alice & Personal Property Including a JD 5410 MFWD Tractor, Frontier 60” 3 Pt. Tiller, Degelman Mdl. R5705 Rock Picker, Rock-O-Matic TMR 12 – 12’ Rock Rake, JD D130 Lawn Tractor w/42” Deck (Only 135 Hrs.) and Other Farm & Hobby Farm Equipment
We will offer the following real property at auction “On Site” at the land located from Altamont, SD (Jct. of 476th Ave./SD Hwy. #15 & 175th St./Deuel Co. Hwy. #309) – 2 miles east on 175th St. to the SW Corner of the Land (478th Ave & 175th St.); from Clear Lake, SD – 6 miles north on SD Hwy. #15 (476th Ave.) and 2 miles east on 175th St.; or from Watertown, SD (Exit #177 on I-29) – approx. 11 ½ miles east on Hwy. #212 to Tunerville, then 3 miles south on SD Hwy. #15 (476th Ave.) and 2 miles east on 175th St.
WEDNESDAY JUNE 28, 2023 Sale Times: LAND AUCTION – 10:00 AM PERSONAL PROPERTY AUCTION – 1:00 PM
This Surveyed +/-437.98 Acre Farm will be offered as…. PARCEL #1 – +/-309.79 Acres w/Farmstead, Pasture & CRP – Located in the S½ Section and an area of Pasture in the SW Corner of the NW¼; PARCEL #2 – +/-128.19 Acres w/CRP & Hunting & Recreational Habitat – All Located in the NW¼; or as PARCELS #1 & #2 Combined – the Entire +/-437.98 Acres as a Unit.
This +/-437.98 acre farm as a whole is a large contiguous “L” shaped parcel of land presently situated in a prominent agricultural, hunting and recreational area of Deuel County, SD, currently consisting of the farmstead, a significant number of cropland acres enrolled in CRP, a +/- 160 acre pasture and the remainder in lowland & areas of wildlife habitat and roads. The farmstead is located at 47832 175th Street and includes an older two story home which has never been occupied by the owners, but has been leased for a long period of time which could use some updating and repair; the main level comprised of a south entry to a laundry/mud room w/closet; a kitchen w/cabinets and dining area; bath w/tub-shower unit; pantry/stg. room with a lift-up cellar door; spacious dining/living room, a front entry and a bedroom w/closet; the second story has three bedrooms w/closets and a ½ bath with painted wood floors throughout the second level. The home as a basement with an outside entrance and interior lift door cellar access and the basement includes a Champion LP gas FA furnace, 150 amp breaker elec. service, Marathon elec. HW heater and an H20W-To Pressure system – the exterior of the home has vinyl siding and asphalt shingles. The LP tank servicing the home is leased. Other improvements include a nice Morton steel storage bldg. w/concrete floor (approx. 30’x40’), sliding door & walk door; a barn w/2 lean-to’s & steel clad exterior, a yard east of the barn with a nearly new Ritchie livestock fountain and other site improvements. The property is serviced by H-D Rural Electric and water is provided from a well w/pressure system. This farmstead works well in connection with the pasture as a place for loading and unloading livestock and access to well water. According to FSA information this farm as a whole is presently identified as FSA Tract #646 of Farm #1381 which the FSA 156 indicates has approx. 250.64 acres of cropland – all of which is presently enrolled in CRP under two (2) individual contracts – Contract #11548 has approx. 68.20 acres enrolled at $172.22 per acre – generating a total annual payment of $11,745.00 which is scheduled to expire on Sept. 30, 2032; and Contract 11243B which includes approx. 182.44 acres enrolled at $142.99 per acre – generating a total annual payment of $26,087.00 which is scheduled to expire on Sept. 30, 2033. The non-tillable acres are comprised of a sizeable +/-160 acre pasture, approx. 14 acres within the farmstead and the remainder in some lowland pockets, areas of hunting habitat and roads. According to Deuel County Assessor this property has an overall soil rating of .58 (.741 Crop & .336 Non-crop) and similarly information obtained from Surety Agri-Data Inc. indicates that this land has an overall weighted productivity index of 55.7. The general topography of this farm is gently rolling to somewhat hilly with some low lying areas. This property has significant hunting and recreational value which is provided from the combination of the established CRP acres, some low lying pockets and slough and the existing pasture that together provides hunting opportunities for deer, pheasants, waterfowl and other wild game. There is an existing wind easement on the property with Southern Power Company, although all prior year’s payments will be retained by the sellers, all future payments for 2023 and thereafter which currently are approx. $15.00 per acre or approx. $7,000.00 per year will be paid to the buyer, although this payment may be adjusted slightly downward in accordance with the recent survey of the property. The 2022 RE Taxes payable in 2023 on this property are $5,746.60. If you are in the market for a parcel of land with pasture suitable for use in connection with a cow-calf operation, land with cash flow provided by the CRP income, hunting and recreational aspects and other amenities, then make plans to inspect this property and be in attendance at this auction.
LEGAL DESC.: The NW ¼ and the S ½ of Sec. 18, T. 116N., R. 48 W., (Altamont Twp.), Deuel County, SD.
TERMS: Cash – A 15% non-refundable downpayment with immediate possession of the farmstead and pasture on the day of the sale, with the balance due and payable on or before August 18, 2023. The buyer to receive 100% of the CRP payment payable in 2023 with no proration, in the projected combined total amount of 2 existing contracts of $37,832.00 payable on Sept. 30, 2023. The new owner(s) will be obligated to comply with all of the remaining terms and provisions of the existing CRP contract; any penalty for non-compliance with the existing CRP contract or buyout of the CRP contract will be the responsibility of the new owner(s). There is an existing Wind Lease and Easement Agreement in place on this property with Invenergy Wind Development, LLC/Southern Power Company, which was executed in 2016 with the sellers to retain any and all payment paid prior to 2023, which currently pays $15.00 per acre or a total of approx. $7,000.00 per year – this amount may change slightly to reflect the actual acres as determined by survey which are due to be adjusted on the county tax records, furthermore there presently are NO towers in place on the property, although provisions of the easement prescribe compensation for construction of each wind tower and a per megawatt amount subsequent to construction, as well as other compensation as prescribed within the agreement, with the buyer to be bound to the length and terms of the Wind Lease and Easement Agreement. Subsequent to closing the new purchaser will be obligated to provide documents to Southern Power for assignment of the seller’s rights to the respective purchasers in order to receive subsequent payments in 2023 and thereafter for the remaining term of the contract which appears to be scheduled to run for the initial term of 30 years from the effective date in 2016 and through Feb. 2046 with extension options thereafter until Feb. 2066. Marketable Title will be conveyed and an owner’s title insurance policy will be provided with the cost of the owner’s policy and closing agents fee to be divided 50-50 between the buyer and seller. All of the RE taxes payable in 2023 in the total amount of $5,746.60 will be paid by the sellers, with the buyer(s) to be responsible for 100% of the 2023 RE taxes payable in 2024. The acres in this property are based on the acres as determined by a survey as completed by Midwest Land Surveying, Inc., with the acres to be understood to be “more or less”. The sellers do not guarantee that the existing fences lie on the true and correct boundary and any new fencing with be the responsibility of the purchaser pursuant to SD Law. FSA cropland acres, CRP contract data and other FSA information and is estimated and are not guaranteed and are subject to County Committee Approval. Information contained herein is deemed to be correct but is not guaranteed. This property is sold in “AS IS Condition” and is sold subject to existing easements, restrictions, reservations or highways of record, if any, as well as any or all applicable zoning ordinances. The RE licensees in this transaction stipulate that they are acting as agents for the sellers. Sold subject to confirmation of the owners. For additional information contact the auctioneers. To make arrangements for absentee bidding contact Sutton Auction.
1:00 PM – Be on Time as the Personal Property Auction will Only Last an Hour or a Little More! PERSONAL PROPERTY: JD 5410 MFWD Tractor w/Open Station, Sync. Shuttle Shift, 16.9×30” Rear Tires w/Wts., 11.2×24” Front Tires, Dual Hyd., 3 Pt. & 540 PTO – Only 833 Hrs. – SN LV54105440752 (2001) – Sharp; Frontier RT1260 60” 3 Pt. Tiller; Degelman Mdl. R5705 Rock Picker – SN 21408; Rock-O-Matic TMR 12 Rock Rake – 12’; Dakon 3 Pt. 6’ Tree Cult.; NH #456 Sickle Mower w/9’ Bar; IH 111 6’ Rotary Mower – 3 Pt.; IH 1300 3 Pt. Rotary Mower; 3 Pt. Sprayer w/110 Gal. Tank & 30’ Booms; 3 Pt. Post Hole Digger; 200 Gal. PU Box Poly Water Tank; Galv. Stock Tank; 2 Bottom Plow & Misc.
LAWN & GARDEN EQUIPMENT: JD D130 Lawn Tractor w/42” Deck – 133 Hrs.; Sanborn 6.25 HP Push String Trimmer; Stihl 045AV Chainsaw; Yard Drags & Misc.
HEIRS OF HOWARD & SANDRA FROMM dba Fromm Property Holdings, LLLP
CHUCK SUTTON – Auctioneer & Land Broker – Sioux Falls, SD – ph. 605-336-6315 & Flandreau, SD – ph. 605-997-3777
JARED SUTTON, CAI – RE Auctioneer & Broker Associate – Flandreau, SD – ph. 605-864-8527
BURLAGE & PETERSON – Auctioneers & Realtors – Brookings, SD – 605-692-7102