FERLAND LAND AUCTION

Legal Description: The South Half (S/2) of Section Twenty-Three (23), Township Eight (8) South, Range Twenty-One (21) West of the 6^th P.M. Graham County, Kansas being 300 acres more of less.

General Description: This tract of land has 5.8 acres of CRP, 174.6 acres is cropland with the balance being grass and habitat. 2009 Taxes Were - $427.17

Terms: 10% down day of sale with the balance to be paid at closing.

Possession: Buyer shall be given possession of all the CRP, alfalfa and idle acres immediate upon closing. Possession of the pasture shall be immediately following the 2010 grazing season and the removal of livestock by the current tenant. Possession of the cultivated acres will be immediately following the 2010 milo harvest.

Minerals: Seller shall convey 100% of the seller(s) mineral interest to the buyer, an undivided one-half (1/2) together with the reversionary interest concerning the balance if not developed by Oct. 17, 2013. Property is not currently leased.

Growing Crops: Buyer shall not share in any growing crops nor any government payments associated with said crops.

Title Insurance: Title insurance shall be used to prove clear & merchantable title with the Buyer & Seller sharing equally the owner’s policy expense. The mortgage policy, if required, will be the expense of the buyer.

Taxes & FSA & CRP Pmts. Seller shall pay all 2010 and prior years taxes. All subsequent years taxes will be the responsibility of the buyer. Seller shall convey to buyer all 2011 CRP payments and subsequent year. CRP contract expires Sept. 30, 2017 and payment is $37.78 per acre for a total of $219.00 annual payment.

Conditions: All acreages are considered to be approximate and are deemed to be from reliable county & FSA sources. Buyers are encouraged to verify details and view properties prior to the auction. Announcements made day of sale shall take precedence over printed material. This auction sale is not contingent upon the purchaser's ability to finance the purchase. Consult your loan agency prior to the auction.

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