Studley, KS 67650 - Sheridan County

LEGAL DESCRIPTION: E/2 of 29-9-26

LAND LOCATION: From the intersection of Hwy 24 and 70 E Road at Tasco, Kansas, go 6 miles South to 70 S Road, 4 miles East to 110 E Road, then 1 mile South to the NE corner of the property OR from Quinter, Kansas, go 11 miles North on Castle Rock Rd to the SE 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, balance to be paid on or before August 20, 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 take precedence over printed material previously made oral statements.

MINERAL RIGHTS: Mineral rights are believed to be 100% intact and all of the Sellers interest will transfer to the Buyer at closing.

CROPS: There are 46.2 acres planted to wheat, 36.3 acres planted to milo, 39.9 acres in SF. Buyer will receive the landlords 1/3rd share of the 2013 milo crop and 2014 wheat crops.

FSA INFORMATION: Cropland Acres 122.4

Grassland Acres - 173.4+

CRP Acres 24.2

Base Acres DCP Yield

Wheat 71.1 41

Grain Sorghum 36.7 52

All FSA payments associated with the 2013 and 2014 crop years will follow the crops.

CRP INFORMATION: There are 24.17 acres currently enrolled in the CRP program through 9/30/25 at $38.79 per acre for a total annual payment of $939.00. Buyer will receive 2/3rd of the 2013 and future years CRP payments, which will accrue from October 1, 2012, through September 30, 2013.

CLOSING: Closing will be on or before August 20, 2013.

POSSESSION: Date of closing, subject to the tenants rights on the cropland and grassland acres thru March 1, 2014, with the tenant to harvest the wheat in 2014 and deliver 1/3rd to the Buyer.

REAL ESTATE TAXES: Sellers will pay taxes for all of 2012 and prior years. Taxes for 2013 will be prorated to the date of closing. (2012 Taxes= $548.30).

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 a good half section located South of the Red Line in SE Sheridan County, Kansas. The property consists of both good cropland and pasture with good terraces and fences. Water is provided by a windmill in the NE corner of the property.

The tenant will harvest the wheat 'and milo this year and the wheat crop in 2014 with the landlords 1/3rd share of the 2013 milo and 2014 wheat going to the Buyer.

The CRP contract runs thru 2025 with the tenant receiving 1/3rd of the annual payment. Should the Buyer desire to remove the land from the CRP program, the tenant would release his right, title and interest in the program for a one-time fee of $3,000.

SEE YOU AT THE AUCTION ON JULY 16, 2013,

AT THE BOWEN SCOUT HOUSE IN HOXIE, KANSAS