Winona, KS 67764 - Logan County

LEGAL DESCRIPTION:

SE/4 of 10-11-36

LAND LOCATION: From the intersection of Hwy 40 & CR 230 in Winona, Kansas, go 2 miles North to Cedar Crest Road, 2 miles West to CR 210, mile North, mile West, mile North to Day Dream Road, then mile West to the SE corner of the property. SIGNS WILL BE POSTED!

MANNER OF SALE: This real estate will be offered in one tract. 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 June 28, 2013, or upon such terms as may be acceptable to the Seller. 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 previously made oral statements.

MINERAL RIGHTS: Mineral rights are believed to be 100% intact and all of the Sellers interest will transfer to the Buyer at closing.

CROPS: Crops are subject to an oral year to year tenancy of Kevin Stoppel.

FSA INFORMATION: Cropland Acres 120.2 CRP Acres - 35.0

Base Acres DCP Yield

Wheat 78.6 36

Grain Sorghum 7.1 38

Sunflowers 6.6 1000

Barley 5.1 37

Buyer will receive the landlords share of all FSA payments associated with the 2013 crop year, if any.

CRP INFORMATION: There are 35.0 acres currently enrolled in the CRP program through 9/30/2022 at $28.13 per acre for a total annual payment of $985. Buyer will receive 99% of the 2013 CRP payment which will be which will accrue from October 1, 2012 through September 30, 2013.

CLOSING: Closing will be on or before June 28, 2013.

POSSESSION: Date of closing, subject to tenants rights.

REAL ESTATE TAXES: Sellers will pay taxes for all of 2012 and prior years. Taxes for 2013 will be the responsibility of the Buyer. (2012 Taxes= $249.48).

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.

EVIDENCE OF TITLE: Seller 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 Seller. Title evidence will be provided on sale day

INSPECTIONS: Each potential bidder is responsible for conducting their own independent inspections and due diligence concerning pertinent facts about the property. Neither Seller nor 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 any oil and gas leases of record.

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

AUCTIONEERS NOTE: This is a great quarter with 120.2 acres in dryland cropland, and the waterway and draws in CRP.

The land is terraced and has been well cared for! The cropland is currently in heavy wheat stubble and ready for corn, milo or wheat this fall. The water ways are in a heavy grass stand and are protecting the erodible soils.

This quarter would make a nice investment in land. The mineral rights are believed to be intact and will transfer with the farm.

There is great hunting for the avid sportsman.

MEET US AT THE FIREHOUSE IN WINONA

ON WEDNESDAY, MAY 29TH.