Stratton, CO 80807 - Kit Carson County

MANNER OF SALE: This real estate will be offered as a “MULTI-PARCEL” auction in 10 individual tracts and in combinations of tracts. It will be sold in the manner that produces the highest aggregate bid. There will be OPEN BIDDING on all tracts and combinations of tracts during the auction as determined by the auction company. Bids on tracts, tract combinations, 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 January 18, 2011, 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 Mineral rights are subject to prior 100% reservations of record and Sellers will convey surface rights only to the Buyer(s) at closing.

WIND LEASE: Tract 4 is subject to a wind lease thru 2011 with an annual payment of $1,128. Copies of the lease are available from the auction company.

CRP PAYMENTS: All 2011 CRP payments which will accrue from 10/1/10 thru 9/30/11 will be prorated to the date of closing. See chart for contract details.

CLOSING: Date of closing will be on or before January 18, 2011.

POSSESSION: Date of closing.

REAL ESTATE TAXES: Sellers will pay taxes for 2010 and prior years. Taxes for 2011 will be prorated to the date of closing.

ACCEPTANCE OF BIDS: Each successful bidder will be required to enter into a Contract to Buy and Sell Real Estate immediately following the auction. Copies of the contracts will be available from the auction company prior to the sale.

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.

EVIDENCE OF TITLE: Sellers 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 Sellers. Title evidence will be provided on sale day.

AGENCY: Farm & Ranch Realty, Inc., Colorado Land Investments I, LLC, their agents and representatives, are the Exclusive Agents of the Sellers.

Tract 3 includes a 1,064 sq. ft house that is currently rented at $200 per month. The well is 2 years old.