Hwy 14, Hayes, SD 57537 - Stanley County

Updated 3-24-2011

1,900+/- Acres in Stanley County at Live Auction!

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Property Details:

This is a Live Auction at the Holiday Inn Express in Ft. Pierre, SD in the Missouri and Oahe Rooms on April 9th at 10:00AM CT

A Bidding Fee is required to enter and bid at the auction in the amount of $10,000 certified funds.

This property will be offered in 8 separate tracts:

Tract 1: 160+/-Acres, SE1/4 of Sec 10-5N-26E.

Currently leased for 2011. Buyer Credit of $9,600

Tract 2: 320+/-Acres, E1/2 of Sec 22-5N-26E.

138.56+/- Acres are leased for 2011. A buyer credit of $8,300. 171.93+/- acres are currently in CRP and food plots, if terminated these acres will be free and clear to farm or rent in 2011.

Tract 3: 320+/- acres, W1/2 of Sec 22-5N-26E.

178.49+/- Acres are leased for 2011. A buyer credit of $10,700. 138.65+/- acres are currently in CRP and food plots, if terminated these acres will be free and clear to farm or rent in 2011.

Tract 4: 320+/- acres, E1/2 of Sec 21-5N-26E.

This tract is in CRP and food plots, if terminated this 1/2 section will be free and clear to farm or rent in 2011.

Tract 5: 160+/- acres, SW1/4 of Sec 21-5N-26E.

This tract is in CRP and food plots, if terminated this 1/4 section will be free and clear to farm or rent in 2011.

CORRECTION: Tract 6: 160+/- acres, SE1/4 of Sec 20-5N-26E.

107.36 acres are tilled and will be free and clear to farm or rent in 2011. The balance of the acres are in CRP and food plots, if terminated this land will be free and clear to farm or rent in 2011.

Tract 7: 150.21+/- acres, NW1/4 of Sec 30-5N-26E Less HWY 9.79 Acres.

Currently leased for 2011. Buyer Credit of $8,900.

Tract 8: 309.97+/- acres, E1/2 of Sec 25-5N-25E Less HWY 10.03 Acres.

This tract is in CRP and food plots, if terminated this 1/2 section will be free and clear to farm or rent in 2011.

Broker's Comments:

This multi-parcel auction presents an excellent opportunity for farmers, investors, and ranchers to purchase 160 acres up to 1900+/- acres of land for an investment or add to an existing operation. This farm in central South Dakota has a high percentage of tillable acres, strong soil productivity and excellent access from Hwy 14, only 32 miles west of Pierre. Hunting/Recreational opportunities are endless with whitetail deer, mule deer, antelope, pheasants, quail, and other upland game birds frequenting the property. According to the seller most of the property has been in CRP for about 20 years to prevent soil erosion. Only 32 miles from the Missouri River, offering endless outdoor opportunities. Whether you are looking for a small or large investment, plan to attend this auction and come prepared to buy!

Tract 1

Legal Description: SE1/4 of Sec 10-T5N-R26E, B.H.M., Stanley Co. S.D.

Acres: 160+/- Taxes: $576.74

Taxes: According to FSA information, Tract 1 has 158.4 tillable acres and has a wheat base of 158.4 acres with a 23 bu. Direct and 23 bu. CC yield. According to Surety AgriData, this tract has a Productivity Index of 66.7% comprised mostly of Promise Clay with 3-6% slope. This parcel is currently leased for the 2011 crop year. Buyer to receive a $9,600 credit at closing. Title Exceptions Summary: Oil, gas, and mineral rights do not convey with the property.

Tract 2

Legal Description: E1/2 of Sec 22-T5N-R26E, B.H.M. Stanley Co. S.D.

Acres: 320+/- Taxes: $1,170.04

Taxes: According to FSA information, Tract 2 has 310.49+/- tillable acres and has a wheat base of 138+/- acres with a 23 bu. Direct and 23 bu. CC yield. According to Surety AgriData, this tract has a Productivity Index of 65.7% comprised mostly of Promise Clay with 3-6% slope. There are currently 138.56+/- acres leased for the 2011 crop year with buyer to receive a $8,300 credit at closing. 171+/- acres are currently in CRP and food plots, if terminated these acres will be free and clear to farm or rent in 2011. The annual CRP payment is approximately $6,361 and the CRP Contract expires 9/30/2020. Title Exceptions Summary: Oil, gas, and mineral rights do not convey with the property.

Tract 3

Legal Description: W1/2 of Sec 22-T5N-R26E, B.H.M. Stanley Co. S.D.

Acres: 320+/- Taxes: $1,029.38

Taxes: According to FSA information, Tract 3 has 317.14+/- tillable acres and has a wheat base of 178+/- acres with a 23bu. Direct and a 23bu. CC yield. According to Surety AgriData, this tract has a Productivity Index of 61.2% comprised mostly of Promise Clay, Opal Clay and Kolls Clay with 3-6% slope. There are currently 178.49+/- acres leased for the 2011 crop year with a buyer to receive a $10,700 credit at closing. 138+/- acres are in CRP and food plots, if terminated these acres will be free and clear to farm or rent in 2011. The annual CRP payment is approximately $5,133 and the CRP Contract expires 9/30/2020. Title Exceptions Summary: Oil, gas, and mineral rights do not convey with the property.

Tract 4

Legal Description: E1/2 of Sec 21-T5N-R26E, B.H.M., Stanley Co. S.D.

Acres: 320+/- Taxes: $1,044.12Taxes:

According to FSA information, Tract 4 has 314.23+/- tillable acres and has a wheat base of 9.93 acres with a 23bu. Direct and 23bu. CC yield. According to Surety AgriData, this tract has a Productivity Index of 60.2% comprised mostly of Promise Clay and Opal Clay with 3-6% slope. 304.3+/- acres are currently in CRP and food plots, if terminated these acres will be free and clear to farm or rent in 2011. The annual CRP payment is approximately $11,739 and the CRP Contract expires 9/30/2020. Title Exceptions Summary: Oil, gas, and mineral rights do not convey with the property.

Tract 5

Legal Description: SW1/4 of Sec 21-T5N-R26E, B.H.M. Stanley Co. S.D.

Acres: 160+/- Taxes: $525.14

Taxes:According to FSA information, Tract 5 has 154.96+/- tillable acres and has a wheat base of 4.9 acres with a 23bu. Direct and 23bu. CC yield. According to Surety AgriData, this tract has a Productivity Index of 61.5% comprised mostly of Promise Clay and Opal Clay with 3-6% slope. 150+/- acres are currently in CRP and food plots, if terminated these acres will be free and clear to farm or rent in 2011. The annual CRP payment is approximately $5,787 and the CRP Contract expires 9/30/2020. Title Exceptions Summary: Oil, gas, and mineral rights do not convey with the property.

Tract 6 - Correction

Legal Description: SE1/4 of Sec 20-T5N-R26E, B.H.M. Stanley Co. S.D.

Acres: 160+/- Taxes: $547.44

Taxes: According to FSA information, Tract 6 has 153 tillable acres and has a wheat base of 112.7 acres with a 23 bu. Direct and 23 bu. CC yield. According to Surety AgriData, this tract has a Productivity Index of 64.7% comprised mostly of Promise Clay and Opal Clay with 3-6% slope. There are currently 107.36+/- acres tilled and will be free and clear to farm or rent in 2011. 40.3 acres are currently in CRP and food plots, if terminated these acres will be free and clear to farm or rent in 2011. The annual CRP payment is $1,514 and CRP contract expires 9/30/2020. Title Exceptions Summary: Oil, gas, and mineral rights do not convey with the property.

Tract 7

Legal Description: NW1/4 of Sec 30-T5N-R26E, B.H.M., Stanley Co S.D., excepting therefrom approximately 9.79 acres which is part of Hwy 34.

Acres: 150.21+/- Taxes: $524.24

According to FSA information, Tract 7 has 143.6 tillable acres and has a wheat base of 143.6 acres with a 23 bu. Direct and 23 bu. CC yield. According to Surety AgriData, this tract has a Productivity Index of 64% comprised mostly of Promise Clay with 3-6% slope. This parcel is currently leased for the 2011 crop year with a buyer to receive a $8,900 credit. Title Exceptions Summary: Oil, gas, and mineral rights do not convey with the property.

Tract 8

Legal Description: SE1/4, NE1/4 of Sec 25-T5N-R25E, B.H.M. in Stanley Co. S.D., except Lot H-1 containing 10.03 acres +/-, heretofore conveyed to the State of SD for the hwy.

Acres: 309.97+/- Taxes: $802.18

According to FSA information, Tract 8 has 305 tillable acres and has a wheat base of 9.5 acres with a 23 bu. Direct and 23 bu. CC yield. According to Surety AgriData, this tract has a Productivity Index of 51.1% comprised mostly of Promise Clay, Opal Clay and Kolls Clay with 3-6% slope. This parcel has 295.5 acres currently enrolled in CRP and food plots, expiring 9/30/2020 providing an annual contract payment of $10,671. Buyer has the option to assume or terminate CRP contract at sellers expense. If CRP contract is terminated these acres will be free and clear to farm or rent in 2011. Title Exceptions Summary: Oil, gas, and mineral rights do not convey with the property.

Owners: Wallace Family Trusts

Closing Terms and Instructions:

This is a Live Auction at the Holiday Inn Express in Ft. Pierre, SD in the Missouri and Oahe Rooms on April 9th at 10:00AM CT

A Bidding Fee is required to enter and bid at the auction in the amount of $10,000 certified funds.

Terms: This is a cash sale. Closing will be scheduled on or before May 5th 2011. In order to enter and bid at the auction a bidding fee is required in the amount of $10,000 (certified funds), made payable to the Advantage Land Company, LLC Trust Account, refundable if you are not the highest bidder. Upon acceptance of the sale by the seller, the bidding fee of the high bidder will be credited toward a non-refundable Earnest Money deposit equal to 10% of the sale price and due at the conclusion of the auction. If Buyer is not immediately available at the conclusion of the auction, the Purchase Agreement and 10% non-refundable Earnest Money deposit must be complete within 24 hours from the close of the auction. The balance will be due at closing. Merchantable Title will be conveyed and title insurance cost will be divided 50-50 between the buyer and seller. Closing costs are to be split 50-50 buyer and seller. All of the 2010 RE taxes due and payable in 2011 will be paid by the seller. The 2011 taxes payable in 2012 will be the responsibility of the purchaser. Possession will be given at closing but a portion of this property is sold subject to an existing cash rent lease for 2011. Sold subject to CRP Contracts that may be assumed or terminated at time of purchase. If terminated, seller to pay CRP termination fees and CRP acres will be available to farm or rent in 2011. If CRP contract is assumed, buyer to receive CRP payment starting in 2011. Buyers will be credited by the seller for the 2011 crop year at closing on specified tracts for a total of $37,500, see specific buyer credits on each tracts. This is a seller concession to the buyer for being unable to farm in 2011. Existing cash rent lease will terminate upon harvest of 2011 crops. The seller does not warranty or guarantee that existing fences lie on the true boundary, and any new fencing will be the responsibility of the purchaser pursuant to SD statutes. FSA yields, bases, payments and other information is estimated and not guaranteed and are subject to County Committee Approval. Information contained herein is deemed to be correct but is not guaranteed. Sold subject to existing easements, restrictions, reservation or highways of record, if any, as well as any or all Stanley County Zoning Ordinances. The RE licensees in this transaction stipulate that they are acting as agents for the seller. Announcements made day of sale take precedence over any written materials. Said property is sold as is. Purchase subject to a 7% buyer's premium. This sale is subject to seller confirmation.

The bidder with the winning bid must contact United Country - Advantage Land Co. within 24 hours after the close of the auction. Office (605)692-2525. Fax (605) 692-2526