30-11-25, Collyer, KS 67631 - Trego County

LEGAL DESCRIPTIONS:

TRACT 1: SW/4 OF SECTION 30-11-25

TRACT 2: 100% OF MINERAL RIGHTS IN AND UNDER TRACT 1

SELLER: ESTATE OF CLARA NADINE KROEGER

LAND LOCATION: From Old Hwy 40 at Collyer, Kansas, go 1 mile North to CR G;.6 miles West to CR 120th; 1 mile North to CR F; and mile West to the SE corner of the property. SIGNS WILL BE POSTED!

MANNER OF SALE This property will be offered as a MULTI-PARCEL auction in 2 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 both tracts and combination of the tracts during the auction as determined by the auction company. Bids on both tracts and the total property may compete. 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 June 19, 2012, 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 will take precedence over printed material and previously made oral statements.

MINERAL RIGHTS: Mineral rights are believed to be 100% intact and will be offered separately as Tract 2. Tract 1 is surface rights only

CROPS: There are approximately 58.7 acres planted to wheat, and 95.5 acres will be planted to fall crops this spring. Buyer will receive the landlords 1/3rd share of all 2012 crops.

FSA PAYMENTS: Cropland acres - 52.1

Grass (haying) acres - 2.1

BASE ACRES DCP YIELD

Wheat 79.6 32

Corn 7.6 47

Grain Sorghum 21.3 43

Buyer will receive the landlords 1/3rd share of all FSA payments associated with the 2012 crop year.

CLOSING: Closing will be on or before June 19, 2012.

POSSESSION: After the 2012 wheat harvest on the planted wheat acres and after the 2012 harvest on the fall crops.

REAL ESTATE TAXES: Seller will pay taxes for all of 2011 and prior years. Taxes for 2012 will be prorated to the date of closing. (2011 taxes = $426.80)

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. FSA acres may not be the same as deeded 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 on Tract 1 with the premium to be paid one-half by the Seller and one-half by the Buyer. Copies of the title insurance commitments will be available for review. A certificate of title will be available for Tract 2.

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 outstanding farm offers both surface rights and mineral rights at ABSOLUTE PUBLIC AUCTION on May 11th. You can purchase this quarter as either Tract 1 or Tract 2, or as a whole being the combination of Tract 1 and Tract 2.

This land is nearly all tillable with excellent Harney and Holdrege silt loam soils that lays nearly level. Possession will be as soon as the 2012 crops are harvested with the Buyer to receive the landlords share of the 2012 crops.

There is an excellent tenant in place and would continue tenancy if desired.

Call Scotty Legere at 785-650-9970 (cell) for further information and a tour of the land.

SEE YOU AT THE AUCTION!!