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699+/- Acres Offered in 5 Tracts - 4-1/2 Irrigated Circles

Southwest Kansas - 7 Miles South of Garden City - Just Off Hwy 83

Owner: Greg & Angela Stone Wed, Dec 14, 2011

AUCTION IS OVER

• Good Water • High G.P.M. Irrigation Wells • Productive Tillable Land • In Cooperation with Lund Company


OPEN HOUSE/INSPECTION DATES

Monday, November 21, 3:00PM - 5:00PM
Wednesday, December 7, 3:00PM - 5:00PM
Meet an Auction Representative at the Clarion Inn - Garden City, KS for More Info.

PROPERTY LOCATION

Tracts 1 & 2: Located on the west side of Hwy 83, just 7 miles south of Garden City.
Tracts 3 & 4: From the intersection of Hwy 83 and Annie Scheer Road, just 8+/- miles south of Garden City, travel west on Annie Scheer Road 1 mile to Fork Road. Turn south on Fork Road and travel 1 mile to the properties on the west side of the road.
Tract 5: From the intersection of Hwy 83 and Craft Road, just 14 miles south of Garden City, travel west on Craft Road 3 miles to the property on the north side of the road.

AUCTION LOCATION

Clarion Inn, 1911 East Kansas Ave., Garden City, KS 67846. From Hwy 50 take North Campus Avenue Exit. Then turn left on Kansas Avenue. The property is on the right. From Hwy 83 Exit on Mary Street. Turn west on Mary Street to Campus Street. Turn south on Campus Street to Kansas Avenue. Turn west on Kansas Avenue, property is on the right.
Latitude: 37.95491 / Longitude: -100.849289

ONLINE BIDDING
You may bid online during this auction at www.schraderauction.com. You must register by December 7th to bid online. For information on registering for online bidding, call Schrader Auction Company at 800-451-2709.

PROPERTY DESCRIPTION

Excellent Opportunity to Purchase irrigated Southwest KANSAS Farmland
Contact Auction Company for a detailed information packet including FSA information, tax summaries, soils summaries, well & power unit information and preliminary title policies.

TRACT DESCRIPTIONS

Tract 1: 151± ac 127+/- Irrigated Acres. 2002 Valley 8000 Pivot. Chevy 496 Power Unit. 675 Test Rate. NW/4 19- 25-32

Tract 2: 151± ac 127+/- Irrigated Acres. 2002 Valley 8000. Chevy 496 Power Unit. 760 Test Rate. NE/4 19-25-32

Tract 3: 80± ac 64+/- Irrigated Acres. 2006 Velley 8000. Chevy 496 Power Unit. 362 Test Rate. W/2, NW/4 36-25-33

Tract 4: 160± ac 129+/- Irrigated Acres. 1996 Valley 6000. Chevy 496 Power Unit. 731 Test Rate. E/2, NW/4 & W/2, NE/4 36-25-33

Tract 5: 157± ac 68+/- Irrigated Acres. Valley 8000 Pivot. Isuzu A-6BGLQA Power Unit. 208 Test Rate. SE/4 21-26-33


INTERACTIVE MAP

TRACT MAP(S)

AREA MAP(S)

PROCEDURE: The farms will be offered in individual tracts, in any combination of tracts, or as total unit. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations, and the total property may compete. The property will be sold in the manner resulting in the highest total sale price, subject to the Sellers acceptance or rejection.

DOWN PAYMENT: 10% of the accepted bid price as down payment on the day of auction with the balance in cash at closing. If the bidder pre-registers with the Auction Company on or before Thursday, December 8, then cash or a personal check will be accepted for the down payment (contact Auction Company for a pre-registration form or visit www.schraderauction.com). If the bidder does not pre-register, a bank letter of credit or guarantee will be required with a personal check, OR bidder must present a $5000 cashiers check with a personal check for the balance of the down payment on auction day. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.

APPROVAL OF BID PRICES: All successful bidders will be required to enter into purchase agreements at the auction site immediately following the close of the auction. The auction bids are subject to the acceptance or rejection by the Sellers.

DEED: Seller will provide Warranty Deed(s).

EVIDENCE OF TITLE: The Seller agrees to furnish an Owners Policy of Title Insurance in the amount of the purchase price.

CLOSING: The closing shall take place 30 days after the auction day, or as soon thereafter as applicable closing documents are completed by Seller. Seller and Buyer shall share 50:50 the cost of closing.

POSSESSION: Possession at closing subject to farm tenants rights to the property through December 31, 2011.

REAL ESTATE TAXES: The Seller shall be responsible for the taxes due for the calendar year 2011 and the Buyer shall be responsible for the taxes due for 2012 calendar year and thereafter.

SURVEY: Seller shall provide a survey for any tract where there is no existing legal description or where new boundaries are created by the tract divisions in this auction. Any need for a new survey shall be determined solely by the Seller. Seller & Buyer shall each pay half (50:50) of the cost of the survey. The type of survey performed shall be at the Sellers option and sufficient for providing title insurance. Closing prices shall be adjusted to reflect any difference between advertised and surveyed acres.

MINERALS: The mineral rights shall be reserved by Sellers and shall not be included with the sale of the real estate.

ACREAGE AND TRACTS: All acreages are approximate and have been estimated based on current legal description and/or aerial photos. Any corrections, additions, or deletions will be made known prior to the auction.

AGENCY: Schrader Real Estate & Auction Company, Inc., The Lund Company, and their representatives are exclusive agents of the Seller.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the purchase agreement. The property is being sold on an AS IS, WHERE IS basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the persons credentials, fitness, etc. All decisions of the Auctioneer are final.

ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.

NEW DATA, CORRECTIONS AND CHANGES: Please arrive prior to scheduled auction time to inspect any changes, corrections or additions to the property information.

STOCK PHOTOGRAPHY: Some wildlife photos are for illustrative purposes only and are not of the auction property.