Oberlin, KS 67749 - Decatur County

LEGAL DESCRIPTIONS:

TRACT 1: SE/4 of 30-3-30, Decatur Co

TRACT 2: NE/4 of 18-4-30, Decatur Co

TRACT 3: NW/4, N/2SW/4 & N/2SE/4 of 31-3-30, Decatur Co

TRACT4: E/2SE/4 of 36-3-31, Rawlins Co & SW/4SW/4 of 31-3-30, Decatur Co

LOCATION: From the intersection of Hwys 36 and 83 in Oberlin, Kansas, go 10 miles West to 100TH road, then 4 miles South to the NE corner of the Tract 1. SIGNS WILL BE POSTED!

MANNER OF SALE: This real estate will be offered as a MULTI-PARCEL auction in 4 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 all tracts and combinations of tracts 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 January 8, 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 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:

Tracts 1, 3 and 4: Sellers will reserve 50% of the mineral rights for a term of 10 years, or as long as production, if any, exists. This reservation will be non-participating in lease monies, delay rentals and bonuses, but fully participating in royalties.

Tract 2: Sellers will reserve 50% of the mineral rights for a term of 15 years, or as long as production, if any, exists. This reservation will be non-participating in lease monies, delay rentals and bonuses, but fully participating in royalties.

CROPS: Buyer(s) will receive the landlords 1/3rd share of the 2014 wheat crop.

FSA INFORMATION: Buyer(s) will receive the landlords 1/3rd share of all FSA wheat payments, if any, and 100% of all FSA feed grain payments, if any, associated with the 2014 crop year. CSP PAYMENTS; The cropland acres are enrolled in the CSP program. All future payments will be made to the Buyer(s), if eligible pursuant to NRCS/FSA rules and regulations. Buyer(s) will agree to maintain and be responsible for all contract compliance throughout the entire remaining terms of the contracts.

CLOSING: Closing will be on or before January 8, 2014.

POSSESSION: Date of closing on the open cropland and grass acres, and after the 2014 wheat harvest or August 1, 2014, whichever date occurs first, on the acres planted to wheat.

REAL ESTATE TAXES: Sellers will pay taxes for 2013 and prior years. Taxes for 2014 will be the responsibility of the Buyer(s). 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.

ACCEPTANCE OF BIDS: The successful bidder(s) 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.

INSPECTIONS: Each potential bidder is responsible for conducting their own independent inspections and due diligence concerning pertinent facts about the property. Neither Sellers or 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-ways and easements, whether recorded or not, 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 farm has been in the Bryan family for many years. The heirs will offer this land at ABSOLUTE PUBLIC AUCTION on Wednesday, December 4th at The Gateway in Oberlin, Kansas.

This land has excellent cropland, and great grassland with water wells. It is located 4 miles South of Hwy 36 on Rexford Road.

There are good tenants in place that would like to continue farming for the new Buyer(s).

The property will be offered as a Multi-Parcel auction and Buyers will have the choice of purchasing a single tract, combination of tracts or the entire property.