Kalvesta, KS 67835 - Hodgeman County

LEGAL DESCRIPTIONS:

TRACT 1: NW/4 of 35-23-26

TRACT 2: NE/4 of 35-23-26

SELLER: GERALD SCHLERETH

LAND LOCATION: From Kalvesta, Kansas, on Hwy 156 go 8 miles East to SW 205 Road, then 4 miles South to the NE corner of Tract 2 OR from intersection of Hwys 285 & 156 in Jetmore, Kansas, go 13 miles West to Road SW 205 Rd, then 4 miles South to the NE corner of Tract 2. SIGNS WILL BE POSTED!

MANNER OF SALE This real estate will be offered as a MULTI-PARCEL auction in 2 individual tracts and in combination of tracts. It will be sold in the manner that produces the highest aggregate bid. There will be OPEN BIDDING on both tracts and combination of the tracts during the auction as determined by the auction company. Bids on both tracts and the total property may compete. 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 June 19, 2012, or upon such terms as may be acceptable to the Seller. 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 take precedence over printed material and previously made oral statements.

MINERAL RIGHTS: Seller believes the mineral rights are 50% intact and all of the Sellers interest will transfer to the Buyer at closing.

CROPS: There are approximately 102.6 acres planted to 2012 wheat and the Buyer will receive 100% of the wheat crop. See chart below for planted acres on each tract.

CROP INSURANCE: There is RP crop insurance at the 70% level on the 2012 wheat crop. Seller will transfer all rights of indemnity to the Buyer(s) at closing and Buyer(s) will pay the premium at closing and receive any benefits therefrom.

FSA INFORMATION: Buyer(s) will receive 100% of all FSA payments associated with the 2012 crop year.

CLOSING: Closing will be on or before June 19, 2012.

POSSESSION: Date of closing.

REAL ESTATE TAXES: Sellers will pay taxes for all of 2011 and prior years. Taxes for 2012 will be prorated to the date of closing.

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. FSA acres may not be the same as deeded 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 contracts will be available from the auction company prior to the sale.

EVIDENCE OF TITLE: Seller will provide title insurance to the Buyer(s) in the amount of the purchase price with the premium to be paid one-half by the Buyer(s) and one-half by the Seller. 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 Seller 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 Seller.

AUCTIONEERS NOTE: This land has been in the Schlereth family for over 95 years. The land was broke out of grass in 1985 and was terraced shortly thereafter, therefore it is NEW GROUND and HAS BEEN VERY PRODUCTIVE.

The property is within 4 miles of Horse Creek Reservoir and located only 20 miles NW of Dodge City, Kansas.

This cropland would make a GOOD LONG TERM INVESTMENT for someone looking for a good return on their money.

Call James today at 785-656-3894 with addition questions. We look forward to seeing you in Jetmore on May 3rd!

INTERNET BIDDING AVAILABLE

Register by April 23rd to bid online. Call for details.