Walsh, CO 81090 - Baca County

LOCATION: Extreme SE Baca County, Colorado 8 miles West of Elkhart, Kansas

MINERAL RIGHTS: Seller will retain of the existing mineral rights perpetually, with said reservation to be fully participating in lease monies, delay rentals, bonuses and royalties.

CROPS: Tenant will retain 100% of all 2011 crops.

FSA INFORMATION: Tenant will retain 100% of all FSA payments associated with the 2011 crop year. The Buyer will receive 100% of all FSA payments associated with the 2012 crop year.

POSSESSION: March 1, 2012.

TAXES: Seller will pay taxes for all of 2011 and prior years. (2010 TAXES: $5,590.44)

IRRIGATION EQUIPMENT:

All irrigation equipment & leases for irrigation wells on adjoin properties are included in this sale.

14) Electric sprinklers

6 1997S, 5 2002S, 2- 2000S,

1 - 2006

2) Section sprinklers, 10 quarter sections, 1- 240 acre sprinkler

1) circle of 105 acres

20 wells (use 16)

All wells permitted to commingle & as alternate points of diversion

22 miles, 8, 10, 12 & 15 underground pipelines connects all wells to every sprinkler

PRICE: $6,000,000.00

IMPROVEMENTS & PROPERTY INCLUDE:

3 homes

200x100 shop & equipment storage

1,000 head cattle feed yard, excellent cattle working facilities and pens

Excellent cattle working facilities at Headquarters

140,000 bushel grain storage