Colby, KS 67701 - Thomas County

LAND LOCATION: See map for directions. SIGNS WILL BE POSTED!

MANNER OF SALE: This real estate will be offered in 22 individual tracts only. THERE WILL BE NO COMBINATIONS OF TRACTS! Auction procedure and increments of bidding are at the discretion of the auction company. Pre-bidding starts on November 2, 2011. All bids will close auction day!!

TERMS: Buyer(s) will pay 10% down day of sale, with the balance to be paid on or before December 22, 2011, 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: Mineral rights are 100% intact except on Tracts 15-19 which are subject to a interest prior term reservation through 12/17/2018. All of the Sellers interest will transfer to the Buyer(s) at closing. There are current oil and gas leases of record on most of the tracts.

CROPS: Seller will harvest the 2011 crops and Buyer(s) will get possession at closing.

FSA INFORMATION: Buyer(s) will receive 100% of all FSA payments associated with the 2012 crop year.

CRP PAYMENTS: There are 4.3 acres of CRP on Tract 14 through 9/30/12, and Buyer will receive 100% of the 2012 CRP payment.

CLOSING: On or before December 22, 2011.

POSSESSION: Date of closing.

REAL ESTATE TAXES: Seller will pay taxes for 2011 and prior years. Buyer(s) will pay 2012 taxes. 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. FSA acres may not be the same as deeded acres.

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. Statements, while not guaranteed, are from reliable sources.

ACCEPTANCE OF BIDS: Each successful bidder will be required to enter into a Farm & Ranch 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

EASEMENTS: This sale is subject to all rights-of-way and easements, whether recorded or not, and to oil and gas leases of record.

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

AUCTIONEERS NOTE: Terry Wendell is retiring from farming and will sell this 4,975 acres of Thomas and Rawlins County cropland at ABSOLUTE PUBLIC AUCTION on November 22, 2011. Then on December 13th, he will liquidate a complete line of near new, late model farm machinery at public auction at the Farm & Ranch Auction Pavilion.

This prime Thomas County cropland consists of 3,323.7 acres of Keith, Kuma and Richfield silt loam soils with 0-1% slope! There is lots of carryover nitrogen and phosphorous! You are welcome to do soil tests prior to the auction.

It is an opportunity of a lifetime to purchase some of the best cropland in the State of Kansas! The FSA bases and yields are outstanding. The sale is designed with the Buyers in mind immediate possession, all of the sellers mineral rights to the Buyers, split into 22 individual tracts, and located near the great community of Colby, Kansas, in Thomas County.

Be sure to attend our INFORMATIONAL MEETING on NOVEMBER 2ND at the FARM & RANCH AUCTION PAVILION West of Colby at 10:00 AM. Internet bidding available if desired! Registration and pre-bidding begins November 2nd!