Stockton, KS 67669 - Rooks County

LEGAL DESCRIPTION:

TRACT OF APPROXIMATELY 142 ACRES IN THE N/2SW/4, SW/4SW/4 & S/2S/2NW/4 OF SECTION 19-7-17 ON THE SOUTH FORK OF THE SOLOMON RIVER

MANNER OF SALE: This real estate will be offered in one tract only. Auction procedure and increments of bidding are at the discretion of the auction company.

TERMS: 10% down day of sale, with the balance to be paid on or before May 30, 2013, or upon such terms as may be acceptable to the Sellers. Personal and corporate checks are acceptable for the down payment with the final payment to be made in certified funds. All funds will be held by the auction company in their trust account or by an identified title/escrow company. Bidding is not contingent upon financing. Financing, if necessary, needs to be arranged and approved prior to the auction. Announcements made day of sale will take precedence over printed material and previously made oral statements.

MINERAL RIGHTS: Sellers will retain 100% of the mineral rights and royalty production perpetually.

CROPS: There are approximately 110 acres in alfalfa and the tenant will retain 100% of all cuttings in 2013 under the current lease agreement. Buyer will receive 100% of the 2013 lease payments in the amount of $7,320.

FSA PAYMENTS: Cropland acres: 122.4*

Creek Bottom acres: 20.5+

BASE ACRES DCP YIELD

Wheat 37.6 34

*Cropland and base acres are estimated and will be determined by FSA.

100% of all FSA payments associated with the 2013 crop year will be retained by the tenant under the current lease agreement.

CLOSING: Closing will be on or before May 30, 2013.

POSSESSION: Date of closing, subject to the tenants rights on the 2013 alfalfa crop.

REAL ESTATE TAXES: Taxes for 2012 and prior years will be paid by the Sellers. Taxes for 2013 will be the responsibility of the Buyer(s). (2012 taxes = $171.82)

EVIDENCE OF TITLE: Sellers will provide title insurance to the Buyer(s) in the amount of the purchase price with the premium to be paid one-half by the Buyer(s) and one-half by the Sellers. Title evidence will be provided on sale day.

ACCEPTANCE OF BIDS: Each successful bidder will be required to enter into a real estate purchase contract immediately following the auction. Copies of the contracts will be available from the auction company prior to the sale.

ACREAGES: Acreage figures are considered to be approximate and are from reliable sources based on (USDA) FSA figures. All FSA information is subject to change, including but not limited to the number of cropland acres, grass acres, base acreages and yields. FSA acres may not be the same as deeded acres or county appraiser acres. Acreages are not covered by title insurance.

INSPECTIONS: Each potential bidder is responsible for conducting their own independent inspections & due diligence concerning pertinent facts about the property. Neither Sellers or Farm & Ranch Realty, Inc., its agents or representatives, are making any warranties about the property, either expressed or implied.

EASEMENTS: This sale is subject to all rights-of-way and easements, whether recorded or not, and to oil and gas leases of record, if any.

AGENCY: Farm & Ranch Realty, Inc., its agents and representatives, are the Exclusive Agents of the Sellers.

AUCTIONEERS NOTE: The Hutton Family will offer this diverse property for sale at ABSOLUTE PUBLIC AUCTION at the American Legion Hall in Stockton, on Friday, April 30th.

The land borders the SE corner of Stockton, and the SOUTH FORK OF THE SOLOMON RIVER crosses the property. The is a GREAT OPPORTUNITY to invest in SUB-IRRIGATED ALFALFA LAND that is close to town with good access. There is EXCELLENT WILDLIFE HABITAT on the river with abundant deer, turkey, pheasant and quail.

Be sure to take the VIRTUAL TOUR of this unique property on our website. Signs will be posted for your convenience. Call listing agent, SCOTTY LEGERE, for more information or a tour of the property.