320 Acres More or Less Barton County, Kansas

For: Marlene Becker-Steinle Irrevocable Trust

Date: Monday, November 21, 2016

Time: 10:00 A.M.

Auction Location: Dole-Specter Conference Center at the Fossil Creek Hotel Inn & Suites located at 1430 S. Fossil St. Russell, Kansas

Land Location

From the intersection NW 190th Rd. & NW 100th Rd. in Galatia, KS go 3 ¼ Miles North on NW 100th Rd. to the SWC of Tract II. Or 3 Miles North on NW 100th Rd., then 2 Miles East on NW 220th Rd. and ¼ Mile South on NW 80th Ave. to the NEC of Tract I.

From I-70 exit 184 at Russell, Ks, go 12 ½ Miles South on Hwy 281 then 4 Miles West on NW 220th Rd and ¼ Mile South on NW 80th Ave. to the NEC of Tract I. Or 12 ½ Miles South on Hwy 281 then 5 Miles West on NW 220th Rd. and ¼ Mile North on NW 90th Rd. to the SEC of Tract II.

Tract I

Legal Description

South Half of the Northeast Quarter and the North Half of the Southeast Quarter (S/2 of NE/4 & N/2 of SE/4) all located in Section Twelve (12) Township Sixteen (16) South, Range Fifteen (15) excepting an approximately 7 acre tract on the west side of said quarter section.  West of the 6th P.M. Barton County, Kansas

A survey will be provided by sellers for a correct legal description and acreages

F.S.A. Information

142 Acres Cultivation

10.4 Acres Grassland & Waterways

These acreages are approximate

Tract II
Legal Description

North Half of the South Half (N/2 of S/2) in Section Two (2) Township Sixteen (16) South, Range Fifteen (15) excepting a 3.69 acre tract in the Northwest Quarter of the Southwest Quarter (NW/4 of SW/4) West of the 6th P.M. Barton County, Kansas

F.S.A. Information

119.22 Acres Cultivation

31.44 Acres Fenced Grassland

3.30 Acres Waterways

General Information

Tract I: is a very productive partial of cultivation consisting of 93%, 0-3% Slopes. The access is very good with a well maintained gravel road.

Tract II: offers excellent soil types along with oil production. The trees and grassland on this property has an excellent hunting potential for large game as well as upland bird hunting. Another large asset is the rural water on this tract, as well as excellent access from two sides.

Taxes

Seller to pay 2016 and prior taxes, Purchaser to pay 2017 and future taxes.

2015 Taxes on Tract I were $1,827.56 & Tract II were $1,495.48

Minerals

All seller’s interest to be conveyed to purchaser. Total production: 2010- 861bbls, 2011- 825bbls, 2012- 655bbls, 2013- 649bbls, 2014- 530bbls, 2015- 595bbls. Effective date of oil transfer will be January 1, 2017.

Terms

10% down day of sale, balance to be paid upon title approval and delivery of deed, said closing no later than December 21st, 2016 or as soon as title requirements, if any, can be corrected. Seller(s) to furnish warranty deed and title insurance showing merchantable title in Seller.

Possession

Tract I: At closing on approx. 71 Acres Wheat stubble, with purchaser reimbursing the tenant $_____ for chemical and application. After the 2016 Milo harvest on approximately 71 Acres planted to Milo.

Tract II: Will be at closing on approximately 47.5 Acres Wheat stubble with purchaser reimbursing the tenant $_____ for chemical and application.

Grassland possession will be January 1st 2017 with purchaser being responsible for the January 2017 Rural Water payment and all future payments.
Possession on the planted Wheat Acres, being approximately 70 Acres, will be after the 2017 Wheat Harvest with purchaser receiving $40/acre X 70 Acres= $2,800 cash rent payment at the time of closing.

Government Programs

Purchaser to stay in compliance with all US Government Programs the property is presently enrolled in.  Payments to follow crop interest.

Wheat ARC w/ PLC Yield 42 bu

Soybeans ARC w/ PLC Yield 35 bu

Corn PLC w/ PLC Yield 117 bu

Sorgum PLC w/ PLC Yield 69 bu

Live internet bidding available. Call for details.

Agency Disclosure

Farmland Auction & Realty Co., Inc. is the agent of the seller. If the purchaser desires representation, legal counsel is advised.

Farmland Auction & Realty Co., Inc.

1390 E 8th, Unit A, Hays, KS 67601

785-628-2851 Toll Free: 1-888-671-2851

E-Mail: farmland@farmlandauction.com

Web: www.farmlandauction.com