Beloit, KS 67420 - Mitchell County

160 Acres & 320 Acres - Mitchell Co., KS - June 4, 2020

LOCATION

Tract 1: Approximately 11 miles south and west of Asherville or at the southwest corner of the intersection of S Rd. and 350th Rd. Both roads are dirt.

Tract 2: Approximately 12 miles south and west of Asherville or at the southeast corner of the intersection of T Rd. and 350th Rd. Both roads are dirt.

DESCRIPTION

Tract 1: 160 acres +/- with 120 acres +/- of cultivation (47 acres +/- planted to wheat, 73 acres +/- will be planted to milo, soybeans or mix) and balance in grass. There is a pond in the pasture. The property has rolling terrain and trees. Soil types are Roxbury silt loam Class 2 (8%), Harney silt loam Class 2 (14%), Harney-Mento complex, Class 3 (28%), Harney-Mento silty clay loams Class 4 (23%), Nibson silt loam Class 6 (25%), Tully silty clay loam Class 3 (2%). There is Rural Water on the parcel and will be transferred to the Buyer.

Tract 2: 320 acres +/- with 156 acres +/- of cultivation (54 acres +/- planted to wheat and 102 acres +/- will be planted to milo, soybeans or mix) and balance in grass. Property includes a watershed lake, terraced cropground, trees and low level creek. Soil types are Roxbury silt loam Class 2 (14)%, Roxbury-Armo complex Class 2 (4%), Armo loam Class 6 (2%), Harney silt loam Class 2 (12%), Harney-Mento complex Class 3 (4%), Harney-Mento silty clay loams Class 4 (18%), Nibson silt loam Class 6 (31%), Tully silty clay loam Class 3 (12%), Water (4%).

MINERAL RIGHTS

All mineral rights of the Seller will be transferred to the Buyer.

WATER RIGHTS

N/A

TAXES

Tract 1: $2,345.52 for 2019. Taxes will be prorated to day of closing. Tract 2: $3,056.04 for 2019. Taxes will be prorated to day of closing.

POSSESSION

Tract 1: Buyer shall receive $7,468 cash rent for the parcel. $4,480.80 will be due August 1, 2020 and $2,987.20 will be due November 15, 2020. Buyer will receive possession of grass on January 1, 2021. Tenant has the right to plant wheat in the fall of 2020. Possession of any land planted to wheat by January 1, 2021 will be after the harvest of said wheat crop. Buyer shall receive $65 per acre cash rent for fall 2020 wheat crop by August 1, 2021. Possession shall be received of any open ground as of January 1, 2021. Tract 2: Buyer shall receive $15,032 cash rent for the parcel. $9,019.20 will be due August 1, 2020 and $6,012.80 will be due November 15, 2020. Buyer will receive possession of grass on January 1, 2021. Tenant has the right to plant wheat in the fall of 2020. Possession of any land planted to wheat by January 1, 2021 will be after the harvest of said wheat crop. Buyer shall receive $65 per acre cash rent for fall 2020 wheat crop by August 1, 2021. Possession shall be received of any open ground as of January 1, 2021.

TERMS

10% down as earnest money deposit due day of the auction with the balance due on or before closing date of July 6, 2020. The sale is subject to all easements, restrictions of record and leases. Deeds will include full legal description. All inspections should be made prior to the day of sale. All property is sold on an AS IS-WHERE IS basis with no warranties or guarantees, either expressed or implied. The Buyer and Seller shall split equally in the cost of title insurance and the closing fee. Bidding is not contingent upon financing. Financing, if necessary, needs to be arranged and approved prior to the auction. Statements made day of the auction take precedence over all printed advertising and previously made oral statements. Gene Francis & Associates is an agent of the Seller.