Gladstone Inn, Jamestown, ND 58401 - Logan County

LAND AUCTION

Crop, Pasture, CRP, Hunting Land, Hay, Gravel & Farmstead!!!

2,545 Acres - 9 Parcels - Logan County, ND

Tuesday, April 7, 2009 – 11:00 a.m.

Auction Location: Gladstone Inn - Jamestown, ND

Auction Note: WOW! These diverse parcels have it all; crop, pasture, CRP, hay, wetlands, gravel, hunting, and farmsteads. This property is divided into nine separate parcels and features 1,087.7 acres of crop land with good soil productivity and fine yields. If are you looking for excellent duck & goose hunting land this is it. All parcels combined have over 740 acres of wetlands located in the heart of the "Prairie Pothole Region" of North Dakota. These wetlands provide some of the best waterfowl hunting in the country. Excellent gravel leases on two parcels. Crop land is available for the 2009 crop year.

Driving Directions:

From Gackle, ND, drive south 1 mile on HWY-56 this will bring you to the southwest corner of parcel 4 and the northeast corner on parcel 7. Continue another 5 miles south on state HWY-56 then go 3 miles east on 61st Street this will bring you to the southwest corner of parcel 5. Please see detailed map below for the remaining parcel locations.

Property Description: (2545.33 Acres +/- Total)

PARCEL 1 - (Owner: Pankonin)

Acres: 160 +/-

Legal: SW¼ 1-136-68

CRP: 46.60 acres at $30.35/acre - $1414.31/yr. - Expires 2011

62.7 acres at $24.89/acre - $1,560/yr.- Expires 2012

2008 Taxes: $412.61

Description: This property features 109.3 acres of CRP. Remaining acres is wetlands with excellent duck and goose hunting. A U.S. Fish and Wildlife Service Wetland Easement exists on this property.

PARCEL 2 - (Owner: Pankonin)

Acres: 231.15 +/-

Legal: N½ NE¼, SE¼ NE¼, N½ SE¼, SE¼ SE¼ 12-136-68

CRP: 67.36 acres at $24.98/acre - $1,683/yr. - Expires 2011

12.17 acres at $30.35/acre - $369/yr. - Expires 2011

2008 Taxes: $495.16

Description: This property features 25.97 cropland and 79.53 acres of CRP with excellent remaining pasture and wetlands. A U.S. Fish and Wildlife Service Wetland Easement exists on this property.

PARCEL 3 - (Owner: Pankonin)

Acres: 148.96 +/-

Legal: NW¼ 7-136-67

CRP: 82.55 acres at $24.98/acre - $2,062/yr. - Expires 2011

2008 Taxes: $404.61

Description: This property features 82.55 acres of CRP, 4.67 acres of Cropland and remaining is wetlands with excellent Duck and Goose Hunting. A U.S. Fish and Wildlife Service Wetland Easement exists on this property.

Gravel Lease: Property has a gravel lease that cuts into 1.8acres of the CRP. Finn Township is paying $500.00 to cover the loss of the CRP payment and any penalties resulting in the withdrawal of the 1.8 acres from the government CRP program. Finn Township agrees to pay $0.50 per yard of gravel removed from this acreage. This is an open lease and can be terminated at the owner’s request.

PARCEL 4 - (Owner: Pankonin)

Acres: 153 +/-

Legal: SW¼ 8-136-67

Pasture: 100 +/- acres

Tillable: 33.41 +/- acres

2008 Taxes: $397.77

Gravel Lease: $0.45/cubic yard. (Exp. 6-6-2013)

Description: This property features 33.41 acres of Crop Land and 100 acres of pasture remaining is wetlands with excellent Duck and Goose Hunting. Logan County has a Gravel lease from the gravel pit located on this parcel.

PARCEL 5 - (Owner: Pankonin)

Acres: 661.65+/-

Legal: S½ NE¼ Lots 1-2, S½ NW¼ Lots 3-4, SW¼ Less Tract 772’x535’, SE¼ Less Tract 60’x535’ 2-135-67

Tillable: 252.4 +/- acres

2008 Taxes: $1,461.75

Description: This property features 252.4 acres crop land and 100 acres of pasture land and remaining acres is wetlands with excellent Duck and Goose Hunting.

PARCEL 6 - (Owner: Pankonin)

Acres: 480 +/-

Legal: S½ NE¼, S½ NW¼, SW¼, SE¼ 10-136-67

Tillable: 244.10 +/- acres

2008 Taxes: $1,039.37

Description: This property features 244.10 acres of crop land and 130 acres of pasture remaining is wetlands with excellent duck and goose hunting. Easy excess off hwy 281. This Parcel is subject to prior sale. Includes unused farmstead. A U.S. Fish and Wildlife Service Wetland Easement exists on this property.

PARCEL 7 - (Owner: Pankonin)

Acres: 540.59 Acres +/-

Legal: NE¼, E½ NW¼, NE¼ SW¼ Lots 3, SE¼ SW¼ Lot 4, SE¼ 18-136-67

CRP: 4.10 acres at $44/acre - $180.40/yr. - Expires 2011

Tillable: 254.7 +/- acres

2008 Taxes: $1,648.59

Description: This property features 254.7 acres of cropland, 120 acres of pasture land, 4.10 acres of CRP and the remaining wetlands with excellent Duck and Goose Hunting. This Parcel is subject to prior sale. Includes a farmstead with 2 bedroom home, out buildings, corrals, & grain bins. This property has windbreak from shelter belts.

PARCEL 8 - (Owner: Schuttenhelm)

Acres: 127.98 +/-

Legal: W ½ SE ¼, W ½ E ½ SE ¼ 7-136-67 & Parcel Gov Lot 1 NW¼ 18-136-67

Tillable: 123.1 +/- acres

2008 Taxes: $784.00

Description: 123.1 acres of cropland and the balance is wetland. Property has potential gravel income and is diversified in wildlife featuring excellent goose, duck, and whitetail deer. Property has good access from gravel roads.

PARCEL 9 - (Owner: Schuttenhelm)

Acres: 40 ± acres

Legal: E ½ E ½ SW ¼ 7-136-67

Description: 40 ± acres includes beautiful home, garage, horse pasture, newly planted shelter belt. Also includes approximately 30 acres of cropland. Located within 40 minutes of Jamestown North Dakota and only 2 miles south of Gackle.

House Description: Lovely Lebelt Manufactured Home with 1,900sqft, 3 bedroom, 2 bath, den, family room, formal living room, dining room, and kitchen with island. House was built in 2005 with great quality from Lebelt Homes. The features vaulted ceilings, propane heat, gas range, two outside pressure treated patios. Detached 14’ x 28’garage and a lean-to for horses. Owners are willing to convey some of their personal property with an agreement between parties.

Taxes (2008): $279.20

Pankonin & Schuttenhelm, Owners