For: The Boyd Family & the Late Paul Klein
Date: Thursday, June 21st, 2018
Time: 10:00 A.M.
Auction Location: Wertz Street Social Emporium- 222 E Wertz St. Utica, KS

Land Location
From Utica, Ks on D Rd., go ½ Mi. North to the SWC of Tract 1 with Tract 2 lying just East.
From the intersection of Hwy 4 & Hwy 283, go 14 Mi. West to E Rd., then ½ Mi. North to the SEC of Tract 2

Tract I Legal Description
Northwest Quarter (NW/4) Section Twenty-Three (23) Township Sixteen (16) South, Range Twenty-Six (26) West of the 6th P.M. Ness County, Ks-Surface Rights Only

F.S.A. Information
147.51 Acres Cultivation (45.1 Acres planted to Wheat)
8.01 Acres Grassland/Waterways
0.49 Acres Lease Road/Tank Battery Site

Tract II Legal Description
Northeast Quarter (NE/4) Section Twenty-Three (23) Township Sixteen (16) South, Range Twenty-Six (26) West of the 6th P.M. Ness County, Ks-Surface Rights Only

F.S.A. Information
75.30 Acres Cultivation (42.46 Acres planted to Wheat)
81.96 Acres Grassland
0.63 Acres Lease Roads

General Information
These are very productive tracts of land with fertile soils. The properties are terraced, & the access is good with maintained county gravel roads on three sides, and it is only a half a mile to the Utica Elevator. The grassland on Tract 2 has average fences and is watered by a water well. The city of Utica also has a water well on Tract 2. All acreages are approximate due to splitting the property into two Tracts.

Tract III
All of seller’s mineral and producing royalty interest on Tract I & II, decimal interest being 0.125. There are three producing oil wells that are producing from the Mississippian formation.

Boyd 6-23 Lease (1 well)
NW/4 23-16-26 Ness Co., Ks
Production in 2012-704bbls, 2013-680bbls, 2014-661bbls, 2015-624bbls, 2016-608bbls, 2017-486bbls.
Boyd 7-23 Lease (2 wells)
NE/4 23-16-26 Ness Co., Ks
Production in 2012-953bbls, 2013-1,256bbls, 2014-1,228bbls, 2015-1,183bbls, 2016-682bbls (Repaired), 2017-1,024bbls.

Total of Both Leases
Production in 2012-1,657bbls, 2014-1,889bbls, 2015-1,807bbls, 2016- 1,290bbls (Repaired), 2017-1,510bbls.

Effective date of transfer, & the oil tax proration, will be August 1st, 2018.
2017 Taxes on the Boyd 6-23 Lease was $516.48 and the Boyd 7-23 Lease was $166.20.

Taxes
Sellers to pay the first half of 2018 taxes & prior based on 2017 taxes. Purchaser(s) to pay the second half of 2018 and future taxes. 2017 real estate taxes were $1,745.70.

Terms
10% down day of sale, balance to be paid upon title approval and delivery of deed, said closing to be on or before July 27th, 2018 or as soon as title requirements, if any, can be corrected. The seller agrees to convey said property by a good and sufficient Deed to the purchaser, subject to easements, restrictions, roads, right-of-ways, leases, reservations and county zoning regulations of record.  Said deed shall be delivered to the purchaser at the time of settlement. Seller(s) to furnish warranty deed and title insurance showing merchantable title in Seller. In the event a survey is necessary to establish the boundary line between the two tracts being sold, it will be the responsibility and cost of the purchaser and adjoining land owner.

Possession
After the 2018 wheat harvest on the planted wheat acres. Immediate possession on the idle acres with purchaser paying the tenant, Larry Horaceck, $12.00/acre for tillage costs. Possession on the approx. 54.2 acres to be planted to milo on Tract 1, will be after the 2018 milo harvest with landowners 1/3 share to be delivered to the nearest elevator in purchaser’s name. Possession on the grassland will be December 30th, 2018 and all personal property to be reserved by tenant.

Government Programs
Purchaser to stay in compliance with all US Government Programs the property is presently enrolled in. Government payments to follow current F.S.A guidelines. The following are a total of the base acres on both Tract 1 & Tract 2.

base acres           PLC yield Program
Wheat- 105.01     33bu.         ARC
Milo- 28.59          43bu.         PLC

Agency Disclosure
Farmland Auction & Realty Co., Inc. is the agent of the seller. If the purchaser desires representation, legal counsel is advised. Announcements made day of sale shall take precedence over printed material

Café will be open for lunch.

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