Kanorado, KS 67741 - Sherman County

LEGAL DESCRIPTIONS:

TRACT 1: 238+ acres of expiring CRP in Sections 31 & 32, Township10, Range 42

TRACT 2: 317+ acres of grass in Sections 31 & 32 all in Townnship10, Range 42

AUCTION LOCATION:

TOPSIDE ROOM AT THE FIREHOUSE, GOODLAND, KANSAS

LAND LOCATION: From the I-70 exit 3 at Kanorado, Kansas, go 12 miles South to the NE corner of the property. SIGNS WILL BE POSTED!

MANNER OF SALE: This property will be offered as a MULTI-PARCEL auction in 2 individual tracts and in combination of tracts. It will be sold in the manner that produces the highest aggregate bid. There will be OPEN BIDDING on both tracts and combination of the tracts during the auction as determined by the auction company. Bids on both tracts 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 October 30, 2014, or upon such terms as may be acceptable to the Sellers. 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. Announcements made day of sale will 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 no growing crops

FSA INFORMATION:

TRACT 1: 229.5 ac CRP (expires 9/30/14)

TRACT 2: 318.2+ ac Grass

There are no FSA base acres assigned to either tract. The Sellers will retain 100% of the 2014 CRP Payment.

CLOSING: Date of closing will be on or before October 30, 2014.

POSSESSION: Date of closing.

REAL ESTATE TAXES: Taxes for 2014 will be prorated to the date of closing. (2013 taxes were combined in the amount of $1,311.68)

ACCEPTANCE OF BIDS: The successful bidders will be required to enter into a real estate purchase contract immediately following the auction. Copies of the contract will be available from the auction company prior to the sale.

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.

EVIDENCE OF TITLE: Sellers 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 Sellers. 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 Sellers 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. There are oil and gas leases of record on both tracts.

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

AUCTIONEERS NOTE: Richard & Paula Liby will offer this EXCELLENT GRASS & EXPIRED CRP land for sale at ABSOLUTE PUBLIC AUCTION on September 30th.

Tract 2 (the grassland acres) includes a domestic well at the improvement site that provides water to the pasture, as well as 40x100 Quonset. There is a windmill on the west end of the pasture as well. Tract 1 has an irrigation well that has been idle during the term of the CRP contract. Buyers can check with Groundwater Management for further information on the irrigation well and water right.

All of the Sellers interest in the mineral rights are included in the sale!

Be sure to attend this auction at the Topside Room at the Firehouse in Goodland Call Farm & Ranch today for further details.