Wakeeney, KS 67672 - Trego County

LEGAL DESCRIPTION:

W/2 OF SECTION 36-11-23, less a tract

LAND LOCATION: From the intersection of I-70 exit 128 and Hwy 283 at Wakeeney, Kansas, go 1 miles North to H Road, 2 miles East to 280th Avenue, then 1 mile North to the SW corner of the property. SIGNS WILL BE POSTED!

MANNER OF SALE This real estate will be offered in one tract. 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 May 30, 2013, or upon such terms as may be acceptable to the Sellers. 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 Sellers will retain one-half (1/2) of the mineral rights for a term of ten (10) years, with said reservation to be non-participating in lease monies, delay rentals and bonuses, but fully participating in royalties.

CROPS: There are approximately 107.5 acres planted to winter barley and approximately 6.5 acres planted to alfalfa. Buyer will receive 100% of all 2013 crops.

CROP INSURANCE: There is YP crop insurance in effect on the 2013 winter barley crop at the 60% level through Farm Credit of Western, Kansas. Sellers will transfer all rights of indemnity to the Buyer at closing. Buyer will pay the premium at closing and receive any benefits therefrom.

FSA INFORMATION: Cropland acres - 121.0

Grass acres - 179.0+

BASE ACRES DCP YIELD

Wheat 59.9 31

Oats 16.1 37

Grain Sorghum 21.6 41

Barley 5.6 36

Buyer will receive 100% of all FSA payments associated with the 2013 crop year.

CLOSING: Closing will be on or before May 30, 2013.

POSSESSION: Date of closing.

REAL ESTATE TAXES: Sellers will pay taxes for all of 2012 and prior years. Taxes for 2013 will be the responsibility of the Buyer. (2012 taxes = $445.20)

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, including but not limited to the number of cropland acres, grass acres, base acreages and yields. FSA acres may not be the same as deeded acres or county appraiser 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: Sellers will provide title insurance to the Buyer in the amount of the purchase price with the premium to be paid one-half by the Buyer and one-half by the Sellers. Title evidence will be provided on sale day.

INSPECTIONS: Each potential bidder is responsible for conducting their own independent inspections and due diligence concerning pertinent facts about the property. Neither Sellers 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 Sellers.

AUCTIONEERS NOTE: This is an excellent opportunity to purchase a good Trego County half section close to Wakeeney. It is a nice combination farm with good mix of cropland and grass. There is a spring fed pond in the pasture for livestock.

This land is located in a strong mineral area. The minerals are believed to be 100% intact, and the Sellers will reserve only one-half of the mineral rights for ten years or as long as production exists, if any.

There is good access via county roads and the land is in close proximity to the livestock and grain markets in Wakeeney.

SEE YOU AT THE AUCTION!