60th Rd & Windmill Rd, Delphos, KS 677436 - Ottawa County

SOLOMON RIVER BOTTOM LAND – PASTURE – SPRING FED CREEK/POND

OTTAWA and CLOUD COUNTY, KANSAS

AUCTION: June 8, 2010, 7:00 pm

AUCTION LOCATION: Delphos Senior Citizens Center, 203 N Washington, Delphos, KS

LEGAL: Southwest Quarter (SW/4) Section 6, Township 9 South, Range 4 West, Ottawa County, KS

DIRECTIONS: From Delphos, KS: 2 miles west on Volunteer Rd to 60th Rd, 1 mile north

TOTAL ACRES: 171± Acres

TILLABLE ACRES: 170.6± Acres

FSA BASES & YIELDS

Wheat: 131.4 acres, 35 bu/ac direct yield, 44 bu/ac CC yield

Grain Sorghum: 19.5 acres, 47 bu/ac direct yield, 67 bu/ac CC yield

Sunflowers: 3.6 acres, 1478 lbs/ac direct yield, 1728 lbs/ac CC yield

Soybeans: 13.7 acres, 29 bu/ac direct yield, 35 bu/ac CC yield

SOIL TYPE: Approx 80% McCook silt loam, Roxbury silt loam, Detroit silty clay loam (Class I); balance is Cambria silty clay loam, Hord silt loam, Sutphen silty clay loam (Class II); and Sutphen silty clay, occ floods (Class III)

2009 TAXES: $1,511.64

TERMS & CONDITIONS

EARNEST DEPOSIT: 10% of Contract Purchase Price due day of Auction

POSSESSION: Possession shall be at closing subject to current verbal tenant lease. Possession of pasture and home site on Tract 3/Parcel B shall be on or before November 1, 2010. Mobile home, cattle panels, corral & arena fences are owned by tenant and will be removed no later than November 1, 2010.

CROP SHARE: Purchaser shall receive landowner’s 2/5 share of 2010 wheat and soybean crop and equivalent FSA payment. At closing, Purchaser shall reimburse Seller for landowner’s 2/5 share of fertilizer & chemical applied to 2010 crop. Purchaser shall be responsible for landowner’s 2/5 share of fertilizer & chemical for 2010 soybean and 2011 crops, plus crop/hail insurance premiums. At closing, Purchaser shall pay crop/hail insurance premiums. Purchaser shall receive pasture rent on Tract 3/Parcel B in the amount of $1,440. First half of pasture rent was paid May 1, 2010; second half is due on or before November 1, 2010.

TAXES: Seller shall pay 2009 taxes and prior years. Purchaser shall pay 2010 taxes.

MINERALS: Minerals are believed to be intact; all Seller-owned minerals shall be conveyed to Purchaser(s) at closing.

CLOSING: Closing shall occur on or before July 8, 2010

TITLE INSURANCE / ESCROW CLOSING: Costs shall be shared equally; First American Title - Schreiber’s, Minneapolis, Kansas, has prepared preliminary title commitment and will handle closings.