Cultivation                              Oil/Gas

Auction: 160 Acres More or Less Rush County, Kansas

For: Graham Family Trust
Date: Friday, March 13th, 2020
Time: 10:00 A.M.
Auction Location: LaCrosse Livestock Market, 2340 US-183, LaCrosse, KS

Land Location:
From the corner of Hwy 183 and Avenue D in Liebenthal, Kansas go 2 ½ miles East on Avenue D to County Road 270 then go South ½ mile to the NEC of property.

From Liebenthal, Kansas go 1 mile South to the intersection of HWY 183 and Avenue E, go 2 Miles East to the SWC of the property.

Legal Description:
The Southeast Quarter (SE/4) of Section Twenty-three (23), Township Sixteen (16) South, Range Eighteen (18) West of the 6th P.M. Rush County, Kansas

F.S.A. Information:
153.07 Acres Cultivation
4.44 Acres Waterways
.29 Acres Lease Road

Video Link: https://www.youtube.com/watch?v=OhwWk5R0bvY&feature=youtu.be

General Info:
this is a very attractive quarter section of cultivation. The soils are very productive, being 95% Class II Harney silt loam and 5% class III Wakeen silt loam. All of which have a 1 to 3 % slope. This tract is terraced with waterways in place. Access is provided by CR 270 on the East and Avenue E on the South side. This tract has had excellent stewardship and produces very well.

Taxes:
Seller to pay 2019 and prior real estate taxes, and 2020 and prior oil/gas taxes. Purchaser to pay 2020 and future real estate taxes and 2021 and future oil/gas taxes. 2019 real estate taxes were $1,725.22. 2019 oil/gas tax was $104.74.

Government Programs:
Purchaser to stay in compliance with all US Government programs the property is currently enrolled in. Government payments to follow current F.S.A. guidelines.

Base Acres                 PLC Yield

Wheat- 97                      32 bu.

Minerals:
All Sellers Interest to be conveyed to the Purchaser. There is currently one producing Natural Gas Well, Sellers interest being .125 to be conveyed to the Purchaser with an effective transfer date of January 1, 2021.

Year                         MCF (1000cubic ft.)
2014                            3,008
2015                            2,279
2016                            2,251
2017                            1,814
2018                            3,410

Terms:
10% down day of sale, balance to be paid upon title approval and delivery of deed, said closing to be on or before April 13th, 2020 or as soon as title requirements, if any, can be corrected. Sale is not contingent on purchaser obtaining financing. Financing, if necessary, needs to be approved prior to the auction.  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 title insurance showing merchantable title in Seller. This tract is being sold by U.S. Government survey. If the Purchaser feels an additional survey is needed, the cost shall be the responsibility of the Purchaser.

Possession:
Possession on the 88 acres planted to wheat will be upon completion of the 2020 wheat harvest with 1/3 of the harvested crop being delivered to an elevator in the landowner’s name. Purchaser to be responsible for their 1/3 share of any additional cost related to the growing wheat crop, including the landowners 1/3 share of the federal crop insurance premium.

Possession on the 52.96 acres of milo stalks and the 12.3 acres of idle cultivation will be upon closing. Purchaser to be responsible for $342.93 for the application of chemicals already applied on the idle acres.

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

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