Robert Rae Farms Ltd. Partnership – 60 Acres of Unimproved Rose Dell Twp., Rock Co., MN Land
November 20 @ 10:00 am
ESTATE LAND AUCTION
+/- 60 Acres in Rose Dell Township with a Wind Tower & Wind Easement Payment – Farm to Be Sold in Accordance with Surveyed Acres
Due to the current Multi-Fractioned Ownerships in this land subsequent to the death of Dr. Dean & Jeraldine “Jerry” Johnson, the beneficiaries have made the decision to offer the following parcel of land at public auction, with the auction to be held “ON SITE” at the Farm – Located from Jasper, MN (Jct. Hwy. #23 and 1st St. (Co. Hwy #1) – approx. 2 ½ miles east on Co. Hwy. #1 and approx. 5 miles south on Co. Hwy. (60th Ave.), 1 mile east on 201st St. and ½ mile south on 70th Ave.; or from the Hardwick, MN Corner on Hwy. #75 – 6 miles west on Co. Hwy. (201st St.) and ½ mile south on 70th Ave.
MONDAY NOVEMBER 20, 2023 SALE TIME: 10:00 AM
This auction presents an excellent opportunity to purchase a parcel of High Caliber Rose Dell Twp., Rock County, MN land. If you are in the market for a smaller high percentage tillable productive parcel of land with both crop production and wind easement payments to add to your row crop farming operation and/or investment property, then make plans to inspect this property and be in attendance at this auction or contact the auctioneers to make arrangements for absentee bidding. THIS PROPERTY WILL BE AVAILABLE WITH FULL POSSESSION TO THE BUYER TO FARM OR LEASE IN THE 2024 CROP YEAR.
This +/-60 acre farm will be offered as a single individual parcel and awards an excellent cash flow generated from the crop production potential of the high quality cropland and the combination of the annual wind turbine rent and the annual acreage lease. According to FSA information this property (FSA TR. #1493) has approx. 59.15 acres of farmland with approx. 58.22 acres of cropland with an FSA 42.20 acre corn base with a 146 bu. PLC yield and a 16.0 acre soybean base with a 43 bu. PLC yield and has been enrolled under the ARC County election for corn and soybeans of the USDA farm program. According to the Rock County Assessor this land has an extremely high CER of 96.49, comparatively info. obtained from Surety Agri Data, Inc. indicates this land has a soil rating of 87.3. The non-tillable portion of this farm is comprised primarily wind tower & access route along the south fenceline and road. The general topography of this land is level to nearly level. There is an existing wind turbine and wind easement in place on this property originally with Geronimo Wind Energy, LLC and now with Prairie Rose Wind Project, LLC, which has wind rights and 1 wind turbine in place – which will be assigned to the buyer(s) of this parcel. The payment on the property in its entirety, including the combination of the wind turbine payment and acreage rent lease payment – which in 2022 generated an annual acreage rent lease payment of $1,462.79 and an annual turbine production lease payment of $5,880.00 for a total combined annual payment of approx. $7,342.79, with annual payments payable in arrears, will remain 100% with the seller for the Term from Jan. 1, 2023 to Dec. 31, 2023, with any or all future payments to be paid to the buyer. A portion of the acreage rent lease payment is subject to a small escalation amount. After closing the new purchaser will be obligated to execute necessary transfer documents for assignment of the seller’s rights to the respective purchasers in order to receive subsequent payments for 2024 and payable in 2025 and thereafter for the remaining term of the contract which runs til 2033, plus 3 additional 10-year options which could potentially run until 2063. This property has a convenient location lying within ½ mile of a county oil highway and near area grain terminals, communities and other area points of interest. The non-homestead RE taxes payable in 2023 on this property were $1,846.00.
LEGAL DESC.: The North 60 Acres of the SE¼ of Sec. 34, T. 104N., R. 46W., (Rose Dell Twp.), Rock Co., MN.
TERMS: Cash – A 10% nonrefundable earnest money payment on the day of the sale and the balance on or before Dec. 28, 2023, with full possession subject to the rights of the existing tenant to the harvest the 2023 crops and their rights under the existing farm lease. Marketable Title will be conveyed and an owner’s title insurance policy will be provided with the cost divided 50-50 between the buyer and seller. The closing agent’s fee (Rock County Abstract) to be divided 50-50 between the buyers and seller. The acres sold are based on the acres as determined by a recent survey as completed by Stockwell Engineering, with the acres understood to be “more or less”. Seller will pay for the transfer documents and deed tax, buyers will pay for the recording of the deed and title examination. All of the RE taxes payable in 2023 will be paid by the seller with the buyer(s) to be responsible for payment of all of the RE taxes due & payable in 2024. The buyer(s) will be obligated to comply with the remaining terms and provisions of the Wind Lease and Easement and will receive 100% of the payments for 2024 and payable in 2025 and thereafter, in accordance with the terms of the agreement. The seller does not warranty or guarantee that existing fences lie on the true boundary and any new fencing, if any, will be the responsibility of the purchaser pursuant to MN statutes. FSA cropland acres, yields, bases & other information are estimated and subject to County Committee approval. This property is sold in “AS IS” Condition and subject to existing easements, restrictions, reservations or highways of record, if any, as well as any or all applicable county zoning ordinances. Information contained herein is deemed to be correct, but is not guaranteed. The RE licensees/auctioneers in this transaction stipulate that they are acting as agents for the seller. Sold subject to confirmation of the Receiver. This property has the potential to fulfill the needs of a variety of buyers including those looking for a choice parcel of land to add to their row crop farming operation and/or their investment portfolio. This is a very desirable parcel of land located in a prominent agricultural area of Rock County, MN that must be seen to be appreciated! To make arrangements for absentee bidding, contact the auctioneers.
ROBERT RAE FARMS LIMITED PARTNERSHIP – Owner
Pamela R. Reiter – Reiter Law Firm, LLC – Court Appointed Receiver – Sioux Falls, SD – ph. 605-705-2900
CHUCK SUTTON – Auctioneer & Land Broker – Mn. Auct. Lic. – #59-26 – Sioux Falls, SD – ph. 605-336-6315
JARED SUTTON, CAI – RE Salesperson & MN Auct. Lic. #59-72 Flandreau, SD – ph. 605-864-8527
DEAN STOLTENBERG – RE Salesperson & Auctioneer – MN Auct. Lic. #59-38 – Jasper, MN – ph. 507-829-6856
TOM SOUVIGNIER – Auctioneer – MN Auct. Lic. #67-49 – Canton, SD – 605-987-2404
TED SOUVIGNIER – Auctioneer – MN Auct. Lic. #67-87 – Canton, SD – 605-660-3962