Tiedeman – +/-100.37 Acres of Unimproved Verdi Twp., Lincoln Co., MN Land
October 27, 2021 @ 10:00 am
+/-100.37 Acres of Unimproved Verdi Twp., Lincoln County, MN Cropland & Pasture with 1 Wind Tower
We will offer the following real property at auction “On Site” at the land located from Lake Benton, MN (Jct. of Hwy’s. #14 & #75) – 2 miles west on Hwy. #14; from Elkton, SD – 2 miles north to Skyview Junction at the Jct. of Hwy’s #14 & #13, then approx. 9¾ miles east on Hwy. #14. **Note the Acreage Sites are not included and the boundaries are somewhat irregular – see suttonauction.com or burlagepeterson.com to view maps & survey information.**
WEDNESDAY OCTOBER 27, 2021 SALE TIME: 10:00 AM
This productive +/-100.37 acre farm will be offered as a unit. This property has a variety of amenities – including productive cropland, pasture/hayland and has additional revenue generated from an existing wind turbine and wind rights. According to FSA information this farm has approx. 69.18 acres of cropland with a 29.83 acre corn base with a 159 bu. PLC yield and is enrolled under ARC County Election of the USDA farm program. Currently it appears that approx. 36 acres are under cultivation and the remainder of the cropland acres are being utilized as hay & grassland. According to the Lincoln County Assessor this farm has a CER of 53.05, furthermore information obtained from Surety Agri-Data indicates this land has a soil productivity index of 84.4. The general topography of this land is gently rolling to somewhat hilly, with some lower lying areas in the drainage and waterways. There is an existing wind turbine and wind easement in place on this property with Minndakota Wind, LLC c/o Avangrid Renewables, LLC, which has wind rights and 1 wind turbine in place on the property – which will be assigned to the buyer of this parcel, with this contract paying a base minimum payment of $2,750.00, plus a royalty payment based on the wind power generated from the existing wind turbine which historically in total within the past 3 years has paid $6,154.00 in 2018, $6,442.00 in 2019 and $6,119.00 in 2020 according to the owner; the new buyer will receive 100% of the payment in 2022 and each year thereafter for the remaining initial term of the contract which is scheduled to expire in 2037, furthermore the easement provides for an option to renew for 2 additional 5 year extensions – one of which has been exercised extending the contract through 2042, with one additional 5 year option to extend not yet exercised (**Note past wind production payments are provided for reference and future payments may vary, as payments are subject to variables and terms of the existing easement**) . The buyer will be assigned to receive 100% of any wind easement payments apportioned to the portion purchased, payable in 2022 and for the remaining term of the easement. The RE taxes payable in 2021 on this land were $1,692.00.
LEGAL DESC.: The SE ¼ of Sec. 1, T. 109N., R. 46W., excluding a surveyed +/-14.85 acre parcel and except a +/-4.0 acre parcel, (Verdi Twp.), Lincoln County, MN
TERMS: Cash – A 10% nonrefundable earnest money payment sale day and the balance on or before Dec. 10, 2021, with landlord’s possession and full possession subsequent to the harvest of the 2021 standing crops and the rights of the existing tenants subject to the terms of their existing farm lease which expires on March 1, 2022. Marketable Title will be conveyed and abstracts of title continued to date will be provided to the buyer for examination prior to closing. This property has a previously executed wind turbine & wind rights agreement/easement, to which the buyer will be obligated to assume and comply with all remaining terms and provisions, the sellers retaining the payment made in 2021 along with any previous payments and the buyer(s) to receive the payments in 2022 and in the future in accordance with the term of the agreement. All of the RE taxes payable in 2021 will be paid by the sellers with the buyer(s) to be responsible for payment of all of the RE taxes due & payable in 2022. The sellers do 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 is estimated and subject to FSA County Committee approval. This property will be sold based on the acres as determined by a survey to be completed by Bueltel-Moseng Land Surveying, Inc., with the acres understood to be “more or less”. This property is sold 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 sellers. Sold subject to confirmation of the owner. This property would make excellent addition to an area row crop & crop/livestock operation and/or as investment property, with additional income generated from the wind turbine generation and wind energy easements. For additional information contact the auctioneers.
MARTIA (Mrs. Delmar) TIEDEMAN, Owner – Glen A. Petersen – Attorney & Closing Agent for the Seller – Tyler, MN – ph. 507-247-5515
CHUCK SUTTON – Auctioneer & Land Broker – Pipestone Realty LLC – MN Auct. Lic. #59-26 – Sioux Falls, SD – ph. 605-336-6315 & Pipestone, MN – ph. 507-825-3389
JARED SUTTON – RE Salesperson & Auctioneer – Auct. Lic. #59-72 – Flandreau, SD – ph. 605-864-8527 and BURLAGE-PETERSON AUCTIONEERS & REALTORS – Brookings, SD – ph. 605-692-7102