NW of Quanah, Quanah, TX 79252 - Hardeman County

LAND & EQUIPMENT AUCTION

December 10, 2011 * Real Estate Sells at 10:00 am * On Location

* Tractors * Farm Equipment * Ranch Equipment *

Will Sell Immediately Following Land Auction.

*Hardeman Co* 3 Tracts of Land* House and 31.2+/- Acres*

144.8+/- Acres Cultivated and Grass*128.43+/- Acres Cultivated and Grass*Fences*Windmills*

All Real Estate tracts will be sold AS IS*Seller will have 45 minutes to accept or reject any and all bids*Not Contingent upon Financing*Buyer should inspect the property before the auction and MUST have the funds available to close within 30 days after auction date*Seller provides title insurance, deed preparation and other typical Sellers closing costs*Buyer will pay typical Buyer closing costs*All announcements made sale

day take precedence over any and all previous announcements or advertisements*

Tract 1: (See House description below)

House and approximately 31.2 Acres* Fences*Corrals*Well*Windmill* Outbuildings*Nice Wildlife Area just west of house with large trees*

Legal Description: To Be Determined by New Survey; (should be described) as the North/Part, Survey No. 14, J. P. Taylor,Hardeman County, Texas* This tract of land and house will be offered separately*All survey costs associated with this tract will be paid for by Buyer, in addition to the auction sales price* Seller will have 45 minutes after tract 1 is offered, to accept or reject any and all bids on tract 1. Seller reserves 66.6% of all mineral interests currently owned.

Tract 2: 144.8+/- Acres*92.3 Acres Improved Grass*(Mixture of Bermuda, Blue Stem, Love Grass, and Switch Grass)* 52.5 Acres Cultivated*Pond* Wheat Crop Insured and Transferrable.

Legal Description: Survey No. 14, J. P. Taylor, Hardeman County Texas, save and except a 31.2+/- acre tract out of the North/Part, containing 144.8 acres more or less. This tract of land will be offered separately* All survey costs associated with this tract will be paid for by Buyer, in addition to the auction sales price*Seller will have 45 minutes after tract 2 is offered, to accept or reject any and all bids on tract 2. Seller reserves 66.6% of all mineral interests currently owned.

Tracts 1 and 2 Combined: At the conclusion of offering tracts 1 and 2 separately, Auctioneer will then offer tracts 1 and 2 combined. (with house and all improvements)

There is an existing survey on tracts 1 and 2 combined. Total Acres = 176.001

Seller reserves 66.6% of all mineral interests currently owned. Wheat Base 76.8, Yield 20* Cotton Base 88.9, Yield 262*If tracts 1 and 2 are sold separately, FSA will perform a recon and each tract will receive prorated share of bases and yields*

Tract 3: This tract contains approximately 128.43 acres. It is located just north of tract 1, with Gresham Road being the South boundary, and Northam Road the west boundary. There are 82.4 acres in Bermuda grass, and 46 in cultivated acres*

Fences*Pond*Windmill* No Minerals* Wheat Crop is Insured and Transferrable* Wheat Base 126.9, Yield 16*

House Description: Rock House w/Red Metal Roof*App 2200 Square Ft*Central Heat/Air*2 Water Heaters*Geothermal Unit* 3 or 4 Bedroom*2 Bath* Laundry Room*Living Room with built in Custom Book Shelves and Cabinets*Dining Room with 7 Broom Closet*Study Room with Built in Bookcase*Nice 6 x 6 Double Pane Windows* Carpet or Linoleum throughout*Crown Molding* Shelving* Lots of Closets and Storage*Jacuzzi Tub*Nice Kitchen* Tile* 3 Lazy Susan Roll

Out Custom Units*Wood Cabinets to top of ceiling* Molding*Cutting Board*Gas Stove*Santa Rosa Telephone Bundle Package*Well House*Separate Garage/Metal Roof*Barns* Pens*Gravel Packed Water Well*Pressure Tank*Septic System

(not state certified)*Sold As Is*Buyers should do their inspections before auction*