Brewster, KSThomas County

LOCATION: From Brewster, KS at old Hwy 24, go 3½ miles South and ½ mile East to the SW corner of Tract 1. SIGNS WILL BE POSTED!!

MANNER OF SALE: This real estate will be offered as a “MULTI-PARCEL” auction in 3 individual tracts and in combinations 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 July 17, 2009, 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: Mineral rights are believed to be 100% intact. There are currently 2 producing oil wells on Tracts 2 and 3 with an annual income for 2008 of $9,199.56. All of the Seller’s interest in the mineral rights and royalty production will transfer to the Buyer(s) at closing.

CROPS:

TRACT 1: There are approximately 311.6 acres planted to corn. Buyer will receive 100% of the 2009 growing corn crop.

TRACT 2: There are approximately 115.6 acres planted to wheat. Buyer will receive the landlord’s 1/3rd share of the 2009 growing wheat crop.

TRACT 3: There are approximately 156.7 acres planted to wheat. Buyer will receive the landlord’s 1/3rd share of the 2009 growing wheat crop.

CROP INSURANCE:

TRACT 1: There is RA crop insurance coverage in effect at the 75% level on the 2009 growing corn crop. Buyer will pay 100% of the premiums and receive the benefits therefrom, if any.

TRACTS 2 & 3: There is RA crop insurance coverage in effect at the 75% level on the 2009 growing wheat crops. Buyer will pay the landlord’s 1/3rd share of the premiums and receive the benefits therefrom, if any.

FSA PAYMENTS: Buyer(s) will receive the landlord’s 1/3rd share of all wheat payments and 100% of all FSA feed grain payments associated with the 2009 crop year.

CRP INFORMATION: There are 73.3 acres currently enrolled in the CRP program through 09/30/09 at $34.30 per acre for an annual payment of $2,514. Buyer will receive 100% of the 2009 CRP payment, which will accrue from October 1, 2008, through September 30, 2009, and all future years’ CRP payments under the current CRP contract.

CLOSING: Date of closing will be on or before July 17, 2009.

POSSESSION:

TRACT 1: Date of closing.

TRACT 2: Date of closing on the open acres and after the 2009 wheat harvest, or August 1, 2009, whichever date occurs first, on the planted wheat acres.

TRACT 3: Date of closing on the CRP acres and open acres, and after the 2009 wheat harvest, or August 1, 2009, whichever date occurs first, on the planted wheat acres.

REAL ESTATE TAXES: Seller will pay taxes for 2008 and prior years. Taxes for 2009 will be paid by Buyer(s).

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.

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 Seller. Title evidence will be provided on sale day. Buyer may close as soon as closing documents are prepared–no later than July 16, 2009.

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 & 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 oil and gas leases of record, if any.

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

AUCTIONEER’S NOTE: The Studer Family Trusts are offering this EXCELLENT Thomas County cropland for sale at ABSOLUTE AUCTION on Tuesday, June 16th in order to finalize their parents’ estates.

GREAT TERMS FOR BUYERS: 100% of growing corn on Tract 1, CRP payment, 100% of the Seller’s interest in the oil production on 2 existing wells PLUS 1/3 of growing wheat crop on Tracts 2 and 3 ALL GOING TO THE BUYERS!

Call Ron Evans at 785-443-2416 for details, and a tour of this “unbelievable offering”!