Alton, KS 67623 - Osborne County

AUCTION LOCATION: DOLE-SPECTER CONFERENCE CENTER, RUSSELL, KS

SELLER: SHIELDS FAMILY LIMITED PARTNERSHIP

LEGAL DESCRIPTIONS:

RUSSELL COUNTY 300+ acres

TRACT 1: SE/4; N/2SW/4 and that part of N/2 lying S of the center of the Smoky Hill River all in Section 34-14-13

OSBORNE COUNTY 3,033+ acres

TRACT 2: SE/4SW/4 & SW/4SE/4 lying S of the railroad ROW in Section 3-7-15

TRACT 3: Tract of cropland in W/2SE/4 & SE/4SE/4 lying N of W 80th Dr in 9-7-15

TRACT 4: NE/4 & NE/4NW/4 of Section 16; and acres in SW/4SE/4 of Section 9 lying S of W 80th Dr, all in Twp 7, Range 15

TRACT 5: NW/4 Section 15-7-15

TRACT 6: S/2SW/4; NW/4SW/4; and SW/4NW/4 & tract in NW/4NW/4 of Section

23-7-15

TRACT 7: All of Sections 21 & 22; E/2E/2 of Section 20; W/2 of Section 28; SW/4 of Section 16; and S/2 & S/2NW/4 of Section 15, all in Twp 7, Range 15

ROOKS COUNTY 1,721+ acres

TRACT 8: SW/4 of Section 22; W/2 & SW/4SE/4 of Section 23; E/2 & E/2SW/4 of Section 27; All of Section 26, less SE/4NE/4; NE/4NE/4 of Section 34; and N/2N/2 of Section 35, all in Twp 7, Range 16

MANNER OF SALE: This real estate will be offered as a MULTI-PARCEL auction in 8 individual tracts and in combination of Tracts 2, 3, 4, 5, 6, 7 and 8. Tract 1 will sell separately and will NOT be offered in combination with any other tract. 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 2, 3, 4, 5, 6, 7 and 8 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 December 4, 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 an identified title/escrow company. Bidding is not contingent upon financing. Financing, if necessary, needs to be arranged and approved prior to the auction. A 5% Buyers premium applies. All bids are subject to Sellers confirmation. Announcements made day of sale take precedence over printed material and previously made oral statements.

MINERAL RIGHTS: Mineral rights are believed to be mostly intact. Buyer(s) will receive 50% of the existing mineral rights at closing on Tracts 2 thru 8. Seller will retain 100% of the mineral rights and production on Tract 1.

CROPS: Seller will retain the landlords 1/3rd share of all 2014 crops. The landlords 1/3rd share of the 2015 wheat crop, if any, will go to the Buyer(s).

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

CRP PAYMENTS: There are 14.7 acres enrolled in CRP on Tract 1 thru 2021 and the Buyer will receive the 2015 and future years CRP payments. Annual payment - $478.

WATER RIGHT INFORMATION: Tracts 2, 3, and 4 each have irrigation wells. The last reported usage was in 2006. All water rights are in good standing per the Division of Water Resources in Stockton. Call 785-425-6787 for water right information.

CLOSING: On or before December 4, 2014.

POSSESSION: March 1, 2015, on the grass, farmstead and any open cropland acres, and after the 2015 wheat harvest on acres to be planted to wheat this fall.

REAL ESTATE TAXES: Taxes for 2104 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 bidder will be required to enter into a real estate purchase contract immediately following the auction. Copies of the contracts will be available prior to the sale.

EVIDENCE OF TITLE: Seller will provide title insurance on the real estate 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 nor 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 any current oil and gas leases of record.

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

AUCTIONEERS NOTE: The family of long-time Russell County businessman/oil producer, Dick Shields, will offer this outstanding Ranch at PUBLIC AUCTION on Tuesday, October 28th at the Dole-Specter Conference Center in Russell. This auction offers a 4,100+ ACRES GRASS plus SOLOMON RIVER CREEK BOTTOM and CROPLAND!

The property will be offered in tracts ranging in size from 80 acres to 2,300 acres, as well as any combination of tracts of the Buyers choice. This is a ONCE-IN-A-LIFETIME OPPORTUNITY to acquire a complete working ranch with very productive pasture and supporting cropland. Mineral rights are mostly intact and one-half of the mineral rights will go to the Buyer(s), except on Tract 1 where the Seller will reserve the mineral rights and production.

The Solomon River runs thru portions of the ranch and adds exciting hunting potential! The ranch headquarters are centrally located on Tract 7 and include a modest home and several outbuildings. Several large ponds grace the pastures and provide excellent livestock water as well as fishing opportunities. Pipelined tanks also dot the pastures to enhance the livestock water supply. Wallace Murphy has been the manager on the ranch since 1956!

FOR A TOUR OF THIS OUTSTANDING PROPERTY, CALL LISTING AGENT, NEAL MANN AT 785-635-2102!