LAND AUCTION, 3255+/- Acres offered in 13 Tracts

Southwest Kansas, Near Garden City, Finney & Gray Counties, 15 Miles Southeast of Garden City, Kansas

Owner: Bill & Kathy Husband Thu, Nov 20, 2014 EASTERN

AUCTION IS OVER

LAND AUCTION
• 3255+/- Acres offered in 13 Tracts
• 14 Irrigated Circles
• Grassland & CRP Acreage
• 8 Alfalfa Circles
• Excellent Location
• Abundant Wildlife
• Online Bidding Available


OPEN HOUSE/INSPECTION DATES

Monday, October 27 from 4pm-6pm
Friday, November 7 from 10am-12Noon

Inspection Headquarters is at the home adjacent to the southside of Tract 1.

PROPERTY LOCATION

Directions: From the intersection of US Hwy 50/400 and Hwy 83 at Garden City, travel east on US Hwy 50/400 12 miles to S. Pierceville Road turn south 5.4 miles to Plymell Road turn east 1.6 miles to the Husband farm headquarters/inspection site, adjacent to Tract 1.

AUCTION LOCATION

Clarion Inn - 1911 East Kansas Avenue, Garden City, KS.

TRACT DESCRIPTIONS

Tract 1: 704± ac Finney Co., 1-26-31, 704+/- Acres, 506 irrigated acres, 4 circles, 3 Zimmatic sprinklers, 1 Hygro sprinkler with Zimmatic conversion, 3 wells with natural gas power units, 1224 acre feet allocation, 2 circles have established alfalfa stands, the northwest circle is planted to triticale and the balance of the non-irrigated land is in native grass.

Tract 2: 156.9± ac Finney Co., NE 3-26-31, 156.9­ Acres with 125 irrigated acres, Zimmatic sprinkler, natural gas power unit, 225 acre feet allocation. The north 1/2 circle is in 2 year old Roundup Ready alfalfa with the south 1/2 in Teff grass.
Note: Tracts 3, 4 & 5 water permits are combined and underground water lines have been installed. This allows water to be transferred across all 4 circles making these tracts a desirable combination at the auction. Irrigation water allocation of these tracts is 1023 acre feet.

Tract 3: 316± ac Finney Co., S 1/2 11-26-31, 316+/- Acres with 249 irrigated acres, two Zimmatic sprinklers with natural gas power units, north 1/2 of the west circle is in 4 year old Roundup Ready alfalfa. The south 1/2 of the southwest 1/4 is planted to wheat.

Tract 4: 152± ac Finney Co., SW 1/4 12-26-31, 152+/- Acres with 85 irrigated acres, Zimmatic sprinkler, natural gas and alfalfa stand.

Tract 5: 153± ac Finney Co., SE 1/4 12-26-31, 153+/- Acres with 113.2 irrigated acres, Zimmatic sprinkler, natural gas power unit and alfalfa stand.

Tract 6: 278± ac Finney Co., NW 1/4 14-26-31 & Pt SW 1/4 14-26-31, 278+/- Acres, native grass with good fencing along the north and west sides, windmill with steel tank, frontage on Pierceville Road. An excellent potential building site.

Tract 7: 315± ac Finney Co., W 1/2 13-26-31, 315+/- Acres with 306.31 dry cropland acres, fronting S. Hutton and O Road. There are also 80 acres of wheat planted to this tract.

Tract 8: 80± ac Gray Co., Pt NE 1/4 6-26-30, 80+/- Acres, native grass with some fencing fronting M Road.

Tract 9: 314± ac Gray Co., E 1/2 4-26-30, 314+/- Acres with 250 irrigated acres (2 circles), 2 Zimmatic sprinklers, electric power units, wells were redrilled, one in 2006 the other in 2012, 512 acre feet allocation, newly seeded Roundup Ready alfalfa on the north circle. The south circle is seeded to triticale.

Tract 10: 160± ac Gray Co., NE 10-26-30, 160+/- Acres with 125 irrigated acres, 272 acre feet allocation, 7 tower Zimmatic sprinkler, electric power unit, with a 3 year old Roundup Ready alfalfa stand.

Tract 11: 315± ac Gray Co.,W 1/2 of 10-26-30, 315+/- Acres enrolled in CRP through September 30, 2017. This tract produces $11,442.00 annually. A good investment opportunity with hunting and dryland farming potential post CRP.

Tract 12: 152± ac Gray Co., NE 16-26-30, 152+/- Acres with 125 irrigated acres, 252 acre feet allocation, 8 tower Zimmatic, electric power unit. There is a 2 year old Roundup Ready alfalfa stand.

Tract 13: 159± ac Gray Co., NE 34-26-31, 159+/- Acres with 125 irrigated acres, 272 acre feet allocation, 8 tower Zimmatic sprinkler, Case 6591T diesel power unit (5.9 Cummins) 2000 gallon fuel tank. The east 1/2 of this circle will be seeded to wheat.

ONLINE BIDDING AVAILABLE: You may bid online during the auction at www.schraderauction.com. You must be registered One Week in Advance of the Auction to bid online. For online bidding information, call Kevin Jordan at Schrader Auction Co. - 800-451-2709.


AREA MAP

TRACT MAP(S)

AREA MAP(S)

PROCEDURE: Tracts 1 through 14 will be offered in individual tracts, in any combination of these tracts or as a 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.

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 Tuesday, November 13, 2014, 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 by High Plans Land & Title. Costs of said title insurance shall be shared by the Buyer and Seller (50:50).

CLOSING: Closing shall occur no later than March 1, 2015. Seller may at sellers option accelerate the closing by providing to the buyer a written notice 30 days in advance of establishing a new closing date. Either way closing shall occur no later than March 1 2015. Seller and Buyer shall share 50/50 in the closing cost.

POSSESSION: Possession shall be granted at closing on all tracts.

REAL ESTATE TAXES: The Seller shall be responsible for the taxes due for the calendar year 2014 and the Buyer shall be responsible for the taxes due for 2015 calendar year and thereafter.

SURVEY: Seller shall provide a survey for any tract where there is no 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 and 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.

MINERAL RIGHTS: Owner shall reserve their mineral interest until February 1, 2025 at which time any auction tract not having oil, gas or other producing minerals shall be conveyed to the surface owner. More explicit terms shall be set forth in the real estate purchase agreement.

CRP: Tract 12 is enrolled in CRP. The CRP contract expires 9-30-2017. Annual payment is $11,442.00 based on 305 acres. Seller shall retain the 2014 payment. Buyer shall assume the CRP contract and receive the 2015 payment and all future payments.

1031 EXCHANGE: Buyer shall cooperate with the Seller in Sellers effort to complete a 1031 tax deferred exchange.

CROP PRODUCTION REIMBURSEMENT FOR SEED & FERTILIZER COSTS: Shall apply to Tract 1 for triticale and wheat and Tract 10 for newly seeded alfalfa and triticale. A schedule outlining the buyers reimbursement costs shall be available prior to the auction.

PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries and due diligence concerning the property. Inspection dates have been scheduled and will be staffed with auction personnel. Further, Seller disclaims any and all responsibility for Bidders safety during any physical inspection of the property. No party shall be deemed an invitee of the property by virtue of the offering of the property for sale.

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

AGENCY: Schrader Real Estate & Auction Company, Inc. and its 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 photos are for illustrative purposes only and are not of the auction property.