Eden Rd, Argonia, KS 67004 - Sumner County

AUCTION: Tuesday, September 28, 2010, 7:00 pm

AUCTION LOCATION: Theurer Marketing Center, 802 East 16th St, Hwy 160 East, Wellington, Kansas

TRACT 1 - 160± Acres CRP, Tillable (Offered in 2 Tracts & Collectively)

• LEGAL: Southeast Quarter (SE/4) Section 21, Township 32 South, Range 4 West, Sumner County, KS

• DIRECTIONS: From Argonia: 1 mile east to Eden Rd and 1.5 miles South

• TILLABLE ACRES: 50.0±

• PASTURE: 54± Acres

• CREEK/TREES: 6.5± Acres

• CRP: 48.1± Acres

• CROP BASES/YIELDS: Upland Cotton – 49.3 Acre Base, 372 lbs yield; Grain Sorghum – 1.1 Acre Base, 36 bushel/acre yield

• SOIL TYPES: Tillable land is Shellabarger sandy loam (1-3% slope); balance is Wellsford clay loam, Pratt loamy fine sand, Lincoln soils, Carwile fine sandy loam

• Quail Buffer Zones on North, South, and East sides

• CRP CONTRACT:

o North Half of Southeast Quarter: 13.5 Acres; $42.15/Acre; $569 Annual Payment; Expires 09/30/2016

o South Half of Southeast Quarter: 26.68 Acres; $32.50/Acre; $1,125 Annual Payment; Expires 09/30/2011

Tract 1A: North Half of Southeast Quarter – 77.1± Acres

o 50.4± Acres Tillable

o 13.5 Acres CRP

o Balance Pasture & Trees

Tract 1B: South Half of Southeast Quarter – 81.4± Acres

o 53.4± Acres Pasture

o 26.7± Acres CRP

o Balance Trees

o Adjoins Chikaskia River

TERMS:

EARNEST DEPOSIT: $5,000 per tract

TAXES: Seller to pay 2009 and prior years; Seller to give credit to buyer for 2010 taxes. 2009 taxes were $434.32

POSSESSION: At closing subject to current tenant agreement

CROP SHARE: Purchaser to receive landowner’s 1/3 share of 2011 crop and equivalent FSA payment. Seller retains 2010 CRP payments.

MINERALS: Conveying all Seller-owned minerals

CLOSING: On or before October 29, 2010