Location: Modale, IA
Directions to the Farm: From Modale, IA South on S. Main St (Austin Ave) to Exira Ave. South on Exira Ave approximately 1 mile then east on 291st St approx. 2 1/2 miles to the farm. The farm is located between Hudson Ave and Interstate 29
Brief Legal Description: Lot 11 and Lot 17 lying South of Hwy. Lot 18 and The N 112 SW 1/4 all in Section 6, T78 (St John) Range 44, Harrison County, Iowa
FSA Info: Farm# 5591 Tract 2638 Cropland Acres 120.77
CSR2: 52 per Surety Maps. soil Type: 100% Luton Silty Clay
Note: There is approximately 11.29 acres of CRP on this farm that is not included in the cropland acres rented. Landlord will retain 100% of the CRP payments. Tenant will sign that they acknowledge the CRP and further, not interfere with the CRP areas.
TERMS OF AUCTION
Method of Auction: 120.77 cropland acres to be rented times the bid.
Final Bid is subject to the landlord's approval by 5pm on October 23, 2026.
Interested parties shall register at www.spencergroups.com and submit a letter from their bank verifying their creditworthiness to Spencer Groups office no later than 24 hours prior to the close of the auction by calling 712-592-9794.
High Bidder Understands the following: Upon bid approval, high bidder will sign a 4 year cash rent lease stipulating yearly soil tests and agreement to fertilize as per agronomist recommendations. High bidder will place 10% of the 2027 cash rent in the Blair Title Trust account as deposit. Balance Of the 2027 cash rent to be paid directly to the landlord as dictated by the cash rent lease on or before March 1st, 2027. 100% of the cash rent will be due each subsequent month year (2028, 2029, 2030) on March 1st.
Agency: Spencer Groups, INC/Farms America, INC/Ed Spencer Real Estate, its agents and associates, are agents for, and represent the LANDLORD in this transaction. All bidders shall be considered customers, not clients.
Phelps Land Holdings, LLC – Owner
Ed Spencer, Broker 402-510-3276