Wallace, KS 67761 - Wallace County

LEGAL DESCRIPTION:

Section 29-11-38

LOCATION: From the intersection of Hwys 40 & Road 26 in Wallace KS, go 12 miles North to Blue Bird Road, then 2 miles East and 1 mile South to the NE corner of the property. SIGNS WILL BE POSTED!

MINERAL RIGHTS: Seller will retain of the mineral rights for a term of 20 years with said reservation to be non-participating in lease monies, delay rentals and bonuses, but fully participating in royalties.

FSA INFORMATION:

GRASSLAND ACRES: 357.5

CRP ACRES: 282.5

There are 282.5 acres currently enrolled in the CRP program through 9/30/2011 at $30.71 per acre for a total annual payment of $8,676.

The 2011 CRP payment which will accrue from October 1, 2010, through September 30, 2011 will be prorated to the date of closing.

POSSESSION: Date of closing, subject to the tenants rights.

REAL ESTATE TAXES: Seller will pay taxes for all of 2009 and prior years. Taxes for 2010 will be prorated to the date of closing. (2010 taxes = $510.10)

PRICE: $385,750