Edson, KS 67735 - Sherman County

LEGAL DESCRIPTION: E/2 of Section 8-10-37

LAND LOCATION: From I-70 Exit 27 at Edson, Kansas, go 6 miles South to Road 57, 4 miles East, and 2 miles South to the NE corner of the property. SIGNS WILL BE POSTED!

MANNER OF SALE: This real estate will be offered in one tract only. 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 20, 2014, 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 TRANSFER TO THE BUYER AT CLOSING.

CROPS: There are no growing crops.

FSA INFORMATION: CRP acres- 235.35

Grassland & farmstead acres- 84.65+

CRP INFORMATION: There are 235.35 acres currently enrolled in the CRP program through 9/30/2021 at $43.54 per acre for a total annual payment of $9,091.

Buyer will receive 100% of the 2014 CRP payment which will accrue from October 1, 2013 through September 30, 2014, and all future years payments.

CLOSING: Closing will be on or before June 20, 2014.

POSSESSION: Date of closing.

REAL ESTATE TAXES: Seller will pay taxes for 2013 and prior years. Taxes for 2014 will be prorated to the date of closing. (2013 real estate taxes = $269.08)

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: Seller 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 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 an oil and gas lease of record, if any.

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

AUCTIONEERS NOTE: This great half section of CRP and grass has been in the Weis Family for three generations! It will be offered for sale at ABSOLUTE PUBLIC AUCTION on Wednesday, May 14th at Hunter Hall in Brewster.

The CRP and pasture were not grazed last year. The CRP contract goes thru 2021 and the Buyer will receive 100% of the 2014 payment! MINERAL RIGHTS ARE BELIEVED TO BE 100% INTACT AND WILL GO TO THE BUYER. There is an abandoned farmstead in the NE corner of the property, with a submersible well at the improvement site.

BE SURE TO ATTEND THIS AUCTION!!