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SOLD

Kansas Land - 1,750 +/- Acres Offered in 18 Land Tracts & 2 Mineral Tracts
Tue, Feb 26, 2013
Southwest Kansas - South of Garden City - Finney County

Owner: Stone Family Farms



SOLD FOR $5,189,000

• 16 +/- miles south of Garden City • 10 Irrigated Circles • Oil & Gas Income • 3 Homes, Excellent Buildings & Grain Storage


OPEN HOUSE/INSPECTION DATES
Sunday, February 10, 2 PM - 4 PM
Monday, February 11. 4 PM - 6 PM
Monday, February 25, 3 PM - 5 PM

Meet an Auction Representative at Tract 15 for Additional Information.

PROPERTY LOCATION
LAND Tracts 1-3: Drive south of Garden City on US Hwy. 83 12.5 miles to West TV Rd. Turn right or west and drive 7 miles to the SE corner of Tract 1. Tracts 1-3 are contiguous
LAND Tract 4: From Tract 2 drive 1 mile north to the SE corner of Tract 4
LAND Tracts 5-18 & mineral tracts 19-23: Drive south of Garden City on US Hwy. 83 12.5 miles to West TV Rd. Turn right or west and drive 4 miles to the NE corner of Tract 18. Tracts 5-18 are contiguous

AUCTION LOCATION
Clarion Inn, 1911 East Kansas Ave., Garden City, KS 67846. From the intersection of US Hwy 83 & East Kansas Ave. (Hwy 156) drive SW on East Kansas Ave. to Campus Dr. The Auction Site is on the right.

PROPERTY DESCRIPTION
MINERAL TRACT INFORMATION:

TRACTS 19 & 20: These tracts consist of the mineral rights which are being sold separately from the surface rights. Bids on a mineral rights tract may be made separately or in combination with any other mineral rights and/or surface rights tract(s). The mineral rights tracts include the Sellers interest in the oil, gas and other minerals and the Sellers interest in any lease(s) pertaining thereto. For more information, contact the Auction Company at 800-451-2709. * UPDATE: The Sellers mineral interest in Sections 19 and 20 are being sold in two mineral tracts. Tracts 19 and 20 consist of the Sellers mineral interest in all of Sections 19 and 20, respectively except approximately 7.5 acres in the Northwest corner of Section 20. This represents an update to the previously-printed auction brochure which described five separate mineral tracts. According to a Certificate of Title prepared by First American Title Company, the Sellers ownership interest in the minerals in Sections 19 and 20 appear as follows:
Tract 19: Undivided 25% mineral rights interest with respect to the NE 1/4 & W 1/2 of Section 19-26-33. Undivided 50% mineral rights interest with respect to the SE 1/4 of Section 19-26-33.
Tract 20: Undivided 50% mineral rights interest with respect to the NW 1/4 of Section 20-26-33, except approximately 7.5 acres in the Northwest corner of Section 20. 100% mineral rights interest with respect to the E 1/2 & the SW 1/4 of Section 20-26-33.

TRACT DESCRIPTIONS
Tract 1: 151.5± ac with approximately 122+/- acres both pivot irrigated and tillable per FSA. Soils are Valent-Vona Loamy Fine Sands.
Tract 2: 150.8± ac with approximately 125+/- acres both pivot irrigated and tillable per FSA. Soils are Valent Fine Sands and Valent-Vona Loamy Fine Sands.
Tract 3: 5± ac with 60 X 96 Open Face Morton Hay Barn.
Tract 4: 161.2± ac of pasture grass. This parcel was formally farmed and has 67.4 acres of corn base and 4.5 acres of wheat.
Tract 5: 141.5± ac with approximately 125+/- acres both pivot irrigated and tillable per FSA. Soils are Valent-Vona Loamy Fine Sands.
Tract 6: 135.6± ac with approximately 121+/- acres both pivot irrigated and tillable per FSA. Soils are Valent-Vona Loamy Fine Sands, Vona Fine Sand and Otero-Ulysses.
Tract 7: 146.3± ac with approximately 126+/- acres both pivot irrigated and tillable per FSA. Soils are Valent-Vona Loamy Fine Sands.
Tract 8: 124.6± ac with approximately 124+/- acres tillable per FSA, with 116+/- acres under center pivot irrigation. This tract also includes 7.9 acres of CRP with a contract that expires 09/30/2017. Soils are Vona Loamy Fine Sand and Valent-Vona Loamy Fine Sands.
Tract 9: 8± ac building site with 48 X 90 X 12 and 24 X 25 Morton Buildings, serviced with its own domestic well and septic system.
Tract 10: 30± ac with 900 head dry lot including 500 ft. of fence line bunks.
Tract 11: 5.7± ac with a 3,452 Sq Ft split level house built in 1965. This house has central air and natural gas heat with 4 bedrooms and 3 baths. Included is a 48 X 45 Morton Building that is insulated with concrete floor, 24 X 38 Co-op Building that is heated, insulated with concrete floor, 14 X 60 Chicken House and 16 X 70 Carport
Tract 12: 11.9± ac with 72 X 144 X 14 Morton Building that has 30 X 14 sliding doors.
Tract 13: 9.8± ac with a 1,548 Sq Ft bungalow house built in 1920. This house has central air and natural gas heat with 3 bedrooms and 2 baths. Included is a 40 X 120 Behlen Building that has a concrete floor, 24 X 35 Co-op Building that is heated, insulated with concrete floor, 30 X 60 wooden machine shed, 35 X 50 barn, 2 22 X 30 2-car garages 18,000 Bu. Behlen grain bin and 35 X 120 concrete silage bunker.
Tract 14: 5.0± ac with a 2,288 Sq Ft ranch style house built in 1965. This house has central air and natural gas heat with 4 bedrooms and 2 baths. Included is a 50 X 100 Behlen Building, 24 X 38 Co-op Building that is heated, insulated with concrete floor and a 24 X 36 4 car garage with concrete floor.
Tract 15: 5.3± ac with 24 X 48 Morton Office/Scale House that has 3 offices, 1 bathroom and a kitchenette. Also included is a 60 X 144 Morton open face Hay Barn, 95,000 Bu Behlen grain bin with natural air and tube, 4 32,000 Bu Behlen grain bins with natural air and tube, 140 ft. Schagel grain leg, 2 2,500 Bu Behlen overhead Load outs and a J-Star axel Scale.
Tract 16: 6.5± ac with 52 X 100 X 14 heated Morton shop that is insulated and has a concrete floor with a 14 X 32 sliding door and a 14 X 42 bi-fold door. Also included is a 66 X 144 X 14 Morton Building with 14 X 32 sliding door, 30 X 35 heated Morton shop that is insulated and has a concrete floor with a 12 X 15 sliding door, 11,500 gal Hoidale Diesel Storage Tank with pump and a 7,500 gal Hoidale Diesel Storage Tank with pump.
Tract 17: 5.9± ac with an 800 Sq Ft cabin. This cabin has natural gas stove with a kitchen, 2 bedrooms and 1 bath.
Tract 18: 606.6± ac with approximately 598+/- acres tillable per FSA, with 488.0+/- acres under center pivot irrigation. This tract also includes 103.1 acres of CRP under two contracts that expires 09/30/2017. Soils are Otero-Ulysses, Vona Loamy Fine Sand, Ulysses Silt Loam and Manter Fine Sandy Loam.
Tract 19: 160± ac Mineral Tract
Tract 20: 152.5± ac Mineral Tract



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, February 19th, 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.

REAL ESTATE TAXES: Seller to pay 2012 real estate taxes. 2013 taxes will be pro-rated to the date of closing.

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.

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.