Studley, KS 67650 - Sheridan County

LEGAL DESCRIPTIONS:

TRACT 1: NW/4 of 4-10-26

TRACT 2: SE/4 of 32-9-26

TRACT 3: E/2NE/4 of 32-9-26

LAND LOCATION: From the intersection of Hwy 24 and 70 E Road at Tasco, Kansas, go 9 miles South to 100 S Road, then 3 miles East to the SW corner of Tract 2 OR from Quinter, Kansas, go 9 miles North on Castle Rock Road to the SW corner of Tract 1. SIGNS WILL BE POSTED!!

MANNER OF SALE: This real estate will be offered as a MULTI-PARCEL auction in 3 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 June 5, 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 take precedence over printed material and previously made oral statements.

MINERAL RIGHTS: All of the Sellers interest will transfer to the Buyer(s) at closing.

CROPS: There are approximately 105 acres planted to wheat on Tract 2 and Buyer will receive the landlords 1/3rd share of the wheat crop. There are no growing crops on Tracts 1 and 3.

CROP INSURANCE: There is RP crop insurance in effect at the 70% level thru Hoxie State Insurance of Hoxie, Kansas. Seller will transfer the landlords 1/3rd share of all rights of indemnity to the Buyer at closing with Buyer to pay the premium and receive any benefits therefrom.

FSA INFORMATION: All FSA farm program payments associated with the 2014 crop year will be subject to the new Farm Bill provisions. See chart below for cropland and base acres.

CLOSING: Date of closing will be on or before June 5, 2014.

POSSESSION:

Tracts 1 & 3: Date of closing with the right to enter after the auction for farming purposes.

Tract 2: Date of closing on the open cropland and grass acres, and after the 2014 wheat harvest on the acres planted to wheat.

REAL ESTATE TAXES: Seller will pay taxes for all of 2013 and prior years. Taxes for 2014 will be prorated to the date of closing. See chart below for 2013 tax amounts.

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 bidders will be required to enter into 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(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 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 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 Seller.

AUCTIONEERS NOTE: This land has been in the Graham family for many years. Two great quarters, plus an 80 acre tract located in Sheridan County, Kansas, Southeast of Tasco or 10 miles North of Quinter on Castle Rock Road.

Buyers will receive immediate possession of the open land, and possession after harvest on the planted wheat acres with the landlords share of the wheat going to the Buyer. This farm has excellent access and is in an area of good yields.

The auction will be held at the Bowen Scout House in Hoxie at 10:30 AM on Tuesday, May 6, 2014.

SEE YOU AT THE AUCTION!