AMERICAN LEGION, Dighton, KS 67839 - Lane County

LEGAL DESCRIPTIONS:

TRACT 1: N/2 of Section 20-18-28, less hwy acres

TRACT 2: S/2 of Section 20-18-28

LAND LOCATION: From the junction of Hwys 96 & 23 in Dighton, Kansas, go 1 mile East on Hwy 96 to the NW corner of Tract 1. SIGNS WILL BE POSTED!

MANNER OF SALE: This real estate 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 April 17, 2012, 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 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. 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 100% intact! Sellers will retain one-half (1/2) of the mineral rights for a term of ten (10) years with said reservation to be non-participating in lease monies, delay rentals and bonuses, but fully participating in royalties.

CROPS: There are 400 acres planted to wheat on the two tracts and Buyer(s) will receive the landlords 1/3rd share of the 2012 growing wheat crop. See chart below for planted wheat acres on each tract.

FSA INFORMATION: Buyer will receive the landlords 1/3rd share of all FSA wheat payments and 100% of all FSA feed grain payments associated with the 2012 crop year. See chart below for bases & yields.

CLOSING: Date of closing will be on or before April 17, 2012.

POSSESSION: Possession will be the date of closing, subject to the tenants rights on the 2012 wheat crop.

REAL ESTATE TAXES: Sellers will pay taxes for all of 2011 and prior years. Taxes for 2012 will be prorated to the date of closing. See chart below for 2011 tax amounts.

ACCEPTANCE OF BIDS: The successful bidder 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. FSA acres may not be the same as deeded acres or county appraiser acres.

EVIDENCE OF TITLE: Sellers will provide title insurance to the Buyer in the amount of the purchase price with the premium to be paid one-half by the Buyer 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, the tower lease on Tract 1, 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 Sellers.

AUCTIONEERS NOTE:

This is one of the BEST FARMS IN LANE COUNTY! Outstanding location with Highway 96 access near Dighton. This farm could have commercial appeal or even could offer residential lots.

We will offer this section in two parcels and in its entirety! This would make a great investment for many years to come. The soils are second to none and will be great for wheat, corn, milo and sunflowers!

Call James Hazlett, listing agent, for more information, and be sure to attend the auction on Friday, March 9th!