Herndon, KSRawlins County

LEGAL: N/2 of Section 11-1-32

LAND LOCATION: This land is located NE of Ludell and NW of Herndon. See map for location. 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 October 8, 2010, 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 take precedence over printed material and previously made oral statements.

MINERAL RIGHTS: Buyer will receive 50% of the mineral rights at closing. Seller will reserve 50% of the mineral rights for a term of 15 years, with said reservation to be non-participating in lease monies, delay rentals, and bonuses, but fully participating in royalties.

CROPS: Buyer shall receive the landlord’s 1/3rd share of the 2011 wheat crop, if any.

FSA PAYMENTS: Cropland acres - 113.8

Grassland acres - 206.2+

BASE ACRES DCP YIELD

Wheat 51.5 31

Grain Sorghum 54.9 46

Oats 6.5 42

Buyer will receive landlord’s 1/3rd share of all FSA wheat payments and 100% of all FSA feed grain payments associated with the 2011 crop year.

CLOSING: Closing will be on or before October 8, 2010.

POSSESSION: Date of closing, subject to the tenant’s rights through March 1, 2011, except on those acres devoted to a growing wheat crop on that date and as to those acres, possession will be after harvest of the growing crops.

REAL ESTATE TAXES: Sellers will pay taxes for 2009 and prior years. Taxes for 2010 will be prorated to the date of closing. (2009 Taxes = $330.08 )

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.

ACCEPTANCE OF BIDS: The successful bidder will be required to enter into a Farm & Ranch Real Estate Purchase Contract immediately following the auction. Copies of the contract will be available from the auction company prior to the sale.

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.

INSPECTIONS: Each potential bidder is responsible for conducting their own independent inspections and due diligence concerning pertinent facts about the property. Neither Sellers or 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 oil and gas leases of record, if any.

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

AUCTIONEER’S NOTE: On Friday, September 10th, we will sell this half section to the highest bidder for the owners, Donna LeSage and Larry Kompus, who are brother and sister.

This fine half section has a water well at the old improvement site, and a well in the west pasture. The cropland on this farm is deep, fertile silt-loam soil, while the pasture is also very productive with canyons and hillsides that grow a variety of grasses for early spring and summer grazing. Access to the farm can be obtained by following the roads hi-lighted on the map above. Signs are posted for your convenience.

This land will sell at ABSOLUTE AUCTION – Call me if you need further assistance! SEE YOU AT THE SALE!

INTERNET BIDDING AVAILABLE – Register by September 8th to bid online. Call for details.