Jennings, KS 67643 - Decatur County

SELLERS: TURNER FAMILY

LEGAL DESCRIPTION: NW/4 OF SECTION 31-4-26

LAND LOCATION: From the intersection of Hwy 383 and 2400th Road in Jennings, Kansas, go 1 mile South to the NW corner of the property. SIGNS WILL BE POSTED!

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, balance to be paid on or before January 10, 2014, 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 take precedence over printed material or previously made oral statements.

MINERAL RIGHTS: All of the Sellers interest will transfer to the Buyer at closing.

ROYALTY INCOME: Mineral rights are subject to a pooling agreement. Transfer of the royalty income will be effective February 1, 2014, and all royalty income for production paid prior to that date will be retained by the Sellers. All royalty income for production paid on and after February 1, 2014, will be paid to the Buyer. ROYALTY INCOME HISTORY: 2010 - $1878; 2011 - $1996; 2012 - $1589; and 2013 through 8/20/13 - $886.

CROPS: There are no growing crops.

FSA INFORMATION: Cropland Acres - 83.6

Grassland Acres - 76.4+

Base Acres DCP Yield

Wheat 40.8 35

Grain Sorghum 42.0 41

Buyer will receive 100% of all FSA payments associated with the 2014 crop year, if any.

CLOSING: Closing will be on or before January 10, 2014.

POSSESSION: Date of closing, subject to the tenants rights through March 1, 2014.

REAL ESTATE TAXES: Sellers will pay taxes for 2013 and prior years. Taxes for 2014 will be the responsibility of the Buyer. (2013 taxes =$418.82)

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.

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

INSPECTIONS: Each potential bidder is responsible for conducting their own independent inspections and due diligence concerning pertinent facts about the property. Neither Sellers nor Farm & Ranch Realty, Inc., its agents or representatives, are making any warranties about the property, either expressed or implied.

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

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: Jack, Steve, Mike and Scott Turner will sell this quarter located just South of Jennings at ABSOLUTE PUBLIC AUCTION on Tuesday, December 10th at the Jennings City Hall.

This land offers good cropland and expired CRP grass. The expired CRP is currently being grazed, but could be broken out and put back into cultivation! There is good hunting potential for pheasant and deer!

Call Mike Bailey at 785-678-8082 for more information or a tour TODAY!