PARISH HALL, Sharon Springs, KS 67758 - Wallace County

LEGAL DESCRIPTIONS:

TRACT 1: NE/4 of 6-17-37, Wichita County, Kansas

TRACT 2: SE/4 of 32-14-38, Wallace County, Kansas

TRACT 3: N/2 of 32-14-38, Wallace County, Kansas

TRACT 4: NW/4 of 2-13-46, Cheyenne Co, Colorado

LAND LOCATION:

TRACT 1: From Leoti, Kansas, on Hwy 25 go 9 miles North to CR G, then 4 miles West to the NE corner of the property OR from the Parks Presbyterian Church, go mile East to the NW corner of the property. SIGNS ARE POSTED!

TRACTS 2 & 3: From the intersection of Hwy 40 and Road 26 at Wallace, Kansas, go 7 miles South to Hickory Road, then 1 mile East to the NW corner of Tract 3.

TRACT 4: From the intersection of Hwy 40 and Road 34 at Firstview, Colorado, go 9 miles North on County Road 34 to the SW corner of the property. SIGNS ARE POSTED!

MANNER OF SALE: This real estate will be offered in 4 tracts. Tracts 2 and 3 will also be offered in combination. It will be sold in the manner that produces the highest aggregate bid. Bids on individual tracts and the combination 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 March 17, 2011, 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. Bids are subject to Seller confirmation. Announcements made day of sale take precedence over printed material and previously made oral statements.

MINERAL RIGHTS: Sellers will retain of the mineral rights currently owned by Sellers 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.

CRP PAYMENTS: Buyer(s) will receive 100% of the 2011 CRP payments. See chart on back for payment details.

CLOSING: Closing will be on or before March 17, 2011.

POSSESSION: Date of closing.

REAL ESTATE TAXES: Sellers will pay taxes for 2010 and prior years. Taxes for 2011 will be the responsibility of the Buyer(s). See chart on back for 2010 taxes.

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. Sale is subject to Sellers confirmation.

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 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-way 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: These are three great farms that have been in the Holmes family for many years. Joan and Carol have decided to divest themselves of this property at PUBLIC AUCTION. They are all enrolled in the Conservation Reserve Program (see chart on back for rents, & expiration dates) and will be sold with the Buyers to succeed in interest to the CRP programs in place.

Tracts 1, 2, and 3 are carried at Wichita County FSA, while Tract 4 is carried at Cheyenne County FSA. NOW IS THE TIME TO INVEST IN GOOD FARM REAL ESTATE. Call if you have questions or want to see the property. We will sell all 4 parcels in Sharon Springs, Kansas, at the Parish Hall which is located across the street North of the courthouse.