Jetmore, KS 67854 - Hodgeman County

LEGAL DESCRIPTIONS:

TRACT 1: W/2 OF SECTION 29-24-26

TRACT 2: 100% OF MINERAL RIGHTS

IN AND UNDER TRACT 1

LAND LOCATION: From the intersection of Hwys 156 and 283 in Jetmore, Kansas, go 16 miles West on Hwy 156 to SW 202 Road, 9 miles South to C Road, then mile West to the NE corner of the property. SIGNS WILL BE POSTED!

MANNER OF SALE This property 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 21, 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 will take precedence over printed material and previously made oral statements.

MINERAL RIGHTS: Mineral rights are believed to be 100% intact and will be offered separately as Tract 2. Tract 1 is surface rights only.

FSA INFORMATION: CRP acres - 106.1

Grassland acres - 213.9+

CRP INFORMATION: There are 106.1 acres currently enrolled in the CRP program through 9/30/20 at $33.52 per acre for a total annual payment of $3,556.

Buyer will receive 100% of the 2012 CRP payment which will accrue from October 1, 2011, through September 30, 2012.

CLOSING: Closing will be on or before June 21, 2012.

POSSESSION: Date of closing.

REAL ESTATE TAXES: Seller will pay taxes for all of 2011 and prior years. Taxes for 2012 will be the responsibility of the Buyer. (2011 taxes = $286.70)

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 contract will be available from the auction company prior to the sale.

EVIDENCE OF TITLE: Seller will provide title insurance to the Buyer in the amount of the purchase price on Tract 1 with the premium to be paid one-half by the Seller and one-half by the Buyer. Copies of the title insurance commitment will be available for review. A certificate of title will be available for Tract 2.

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. There is no oil and gas lease of record.

AGENCY: Farm & Ranch Realty, Inc., its agents and representatives, are the Exclusive Agents of the Seller.

AUCTIONEERS NOTE: This great pasture has 2 live springs that feed the pond. The fences are good and there is a corral on the property.

The Buyer will receive immediate possession of the property and 100% of the 2012 CRP payment. The mineral rights are 100% intact and going to the Buyer, they are not leased at this time.

There was a Pony Express Station located on the property. This is a great investment property.

Call James Hazlett at 785-656-3894 (cell) for further information and a tour of the land.

SEE YOU AT THE AUCTION!!

INTERNET BIDDING AVAILABLE!

Register by May 9, 2012 to bid online -- Call for details!