2550 RD 29, Wallace, KS 67761 - Wallace County

Multi-Parcel Unreserved Land Auction

Wednesday, December 15, 2010 at 10:00 a.m. MST

Parish Hall, Sharon Springs, Kansas

1,440 Acres Wallace County Grass CRP with Improvements

Land located 8 miles North, 3 East & 1 North of Wallace, Kansas

This property offers a lot of opportunity to farming and ranching prospects. Tract #1 includes 320 Acres of Native Grass with a 4 bedroom, 2 1/2 bath brick home with 2-car garage, 40’ X 100’ shop building with concrete floor, 50’ X 36’ barn with open front shed, Vet building with working chute, 10’ X 20’-20,000# certified scales, 840’ of concrete bunk line, 3) 12 ton overhead bins, 16,000 bushels of grain storage and steel corrals with Johnson waterers. Tracts #2 & #3 are ideal for farming and raising crops and are currently seeded to Cool Season Grass. Tract #4 has 48.72 Acres of CRP land with the balance in Native Grass. Tract #5 is all in grass with approximately 100 Acres that was previously farmed and is currently seeded to Cool Season Grass. This property is very well watered with 2 electric water wells and 2 windmills located throughout. Please plan to attend this auction and custom fit these tracts to your needs!

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INTERNET BIDDING AVAILABLE

LEGAL DESCRIPTIONS:

Tract 1: W/2 of Section 34-11-38 (w/Improvements) 2010 TAXES: Approx. $1,856.18

Tract 2: SE/4 of Section 34-11-38 (Farmland or Grass) 2010 TAXES: Approx. $138.00

Tract 3: NE/4 of Section 34-11-38 (Farmland or Grass) 2010 TAXES: Approx. $228.00

Tract 4: SW/4 of Section 26-11-38 (Grassland & CRP) 2010 TAXES: $111.38

Tract 5: All of Section 27-11-38 (Grassland & Farmland) 2010 TAXES: $412.24

FSA INFORMATION:

Grassland Acres: Tract 1 - 320.00 Tract 2 -159.63 Tract 3 -160.00 Tract 4 -111.14 Tract 5 - 640.49

CRP Acres: Tract 4 - 48.72

Wheat Base/Yield: Tract 2 - 79.7/38 Tract 3 - 79.6/38

Grain Sorghum Base/Yield: Tract 2 -.9/35 Tract 3 -.9/35

Barley Base/Yield: Tract 2 - 5.5/39 Tract 3 -.5.4/39

MINERAL RIGHTS: All of the Seller’s interest shall transfer with this land to the Buyer at closing. (Believed to be intact.)

WATER RIGHTS: There is an Irrigation well located on Tract #2 under Water Right Certificate #33,393 and is authorized at 360 G.P.M. with 38 Acre Feet of appropriation.

TERMS & CONDITIONS: This real estate will be offered as a “MULTI-PARCEL” auction in 5 individual tracts and in combination of tracts. It will be sold in the manner that produces the highest aggregate bid. There will be OPEN BIDDING on all tracts and combination of tracts during the auction as determined by the auction company. Bids on each tract and the total property may compete. Auction procedure and increments of bidding are at the discretion of the auction company. Each successful bidder will be required to enter into a HomeLand Realty & Auction purchase agreement with a 10% earnest money deposit immediately following the auction. The balance will be due in certified funds at closing on or before December 30, 2010. Sellers will provide marketable title to the Buyer(s) evidenced by a policy of Title Insurance with the premium to be paid 1/2 by each party. There will be a $400.00 closing fee payable per contract to Outback Title & Escrow Co. and shall be paid 1/2 by each party. The 2010 Real Estate taxes shall be paid by the Seller. This property will NOT be sold subject to financing. The Buyer(s) shall be required to have all financial arrangements made prior to the auction. All announcements made day of sale will take precedence over printed material. Acreage figures are considered to be approximate and are from reliable sources, based on (USDA) FSA figures. All FSA information is subject to change. FSA acres may not be the same as deeded acres. Each potential bidder is responsible for conducting their own independent inspections and due diligence concerning pertinent facts about the property. Neither Sellers nor HomeLand Realty & Auction, its agents or representatives, are making any warranties about this property, either expressed or implied. Statements, while not guaranteed, are from reliable sources. HomeLand Realty & Auction, its agents and representatives, are the exclusive agents of the Sellers.