AMERICAN LEGION, Grainfield, KSGove County

LEGAL DESCRIPTIONS:

Tract 1: W/2 of 12-14-30

Tract 2: E/2 of 12-14-30

LOCATION: From Gove, Kansas, go 6 miles West on County Road S, then 7 miles South on County Road 34 to the NE corner of Tract 2. 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 the combination of tracts during the auction as determined by the auction company. Bids on each tract 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 September 17, 2010, 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: Seller will retain 50% of the mineral rights for a term of 15 years, with said reservation to be non-participating in lease monies, delay rentals and bonuses, but fully participating in royalties.

CROPS: 2010 crops are subject to the tenant’s rights of Phillip Doxon. Buyer(s) will receive the landlord’s 1/3rd share of the 2010 milo crop. See chart for planted milo acres.

FSA INFORMATION: Buyer(s) will receive the landlord’s 1/3rd share of all FSA feed grain payments associated with the 2010 crop year.

CLOSING: Closing will be on or before September 17, 2010.

POSSESSION: Date of closing on the stubble and open acres. After the 2010 milo harvest on the planted milo acres. January 1, 2011 on the grassland acres.

REAL ESTATE TAXES: Seller will pay taxes for 2009 and prior years. Taxes for 2010 will be prorated to the date of closing.

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 Sellers. Title evidence will be provided on sale day.

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.

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.

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

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

AUCTIONEER’S NOTE: We will sell this great section of land for Wanda Wildeman at ABSOLUTE PUBLIC AUCTION on Tuesday, August 17, 2010 at the American Legion in Grainfield, Kansas.

This farm has two pastures of excellent grassland with good dependable water in each pasture. The grassland is very clean of any weeds as you see in the picture above. The windmill on Tract 1 is in good operating condition and there is good water on Tract 2. The fences and access are good.

The cropland is terraced and has a slight south slope. Some of the land on Tract 1 is bottom ground. This land has deep fertile soil and is in a good rainfall area. There is currently a tenant on the property who would like to continue to farm and graze this land. Call for a tour or additional information.

INTERNET BIDDING AVAILABLE.