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SCHLEUSENER LAND AUCTION

480 ACRES± ROOKS COUNTY, KANSAS LAND

CRP – Cultivation - Pasture –Hunting

All Minerals Rights Convey With the Land!

Tuesday, Jan 13, 2009  at 10:00 A.M.

 AUCTION LOCATION:  AMERICAN LEGION HALL, STOCKTON, KS

(109 N. Elm – 2 blks. E and ½ blk N of Stoplight)

 TRACT #1  Sold - $152,000.00

 Legal Description: The Northeast Quarter (NE/4) of Section Sixteen (16), Township Seven (7) South, Township Eighteen (18) West of the 6th P.M., Rooks County, Kansas being 153.2 acres more or less.

General Description: This tract of land has approx. 139 acres of cropland with the balance being waterways, grass and waste. Buyer of Tract 1 will be required to reimburse the tenant for burn down expenses in the amount of $1,582.72 on 82 idle acres  FSA Info; Wheat Base-130.7 acres W/35 Bu. Yield, Grain Sorghum Base-8.3 acres W/43 Bu. Yield

Property Location: Property is located 2 ½ mi. west of Stockton, Ks. on Hwy 24 to 16 Rd then ½ mi. north which will be the southeast corner on the west side of the road.

TRACT #2  Sold - $137,000.00

Legal Description: The East Half  of the Southwest Quarter (E/2SW/4) and the West Half of the Southeast Quarter (W/2SE/4) of Section Twenty-five (25), Township Seven (7) South, Range Nineteen (19) West of the 6th P.M., Rooks County, Kansas being 161 acres more or less.

General Description: This tract of land has approx. 141.3 acres of cropland with 112.1 acres of said cropland being enrolled in the CRP program leaving 29.2 acres of actual cultivation. The balance is grass & waste. FSA Info; Wheat Base-29.2 acres W/35 Bu. Yield

Property Location: Property is located 7 ½ mi. west of Stockton, Ks. on Hwy 24 to 12 Rd then ½ mi. south to K Terrace and then ½ mi. east which will be the northwest Corner on the south side of the road.

TRACT #3   Sold - $107,000.00

Legal Description: The Southeast Quarter (SE/4) of Section Twenty-nine (29), Township Six (6) South, Range Nineteen (19) West of the 6th P.M., Rooks County, Kansas being 154.6 acres more or less.

General Description: This tract of land has approx. 132.9 acres of cropland with all cropland acres being enrolled in the CRP program. The balance is trees and waste.

Property Location: Property is located 10 mi. west of Stockton, Ks. on Hwy 24 to 9 Rd then 5 mi. north to F road which will be the Southeast corner. Property is on the NW corner of the intersection of 9 & F

INFO CONCERNING ALL TRACTS

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.

Possession: Immediate upon closing on CRP and native grass acres, March 1, 2009 on unplanted acres. Possession of all acres planted to wheat this fall will be immediately following the 2009 wheat harvest.

Taxes, Minerals, Crop Shares & CRP. The 2008 and prior years taxes will be paid in full by the sellers. All subsequent years taxes will be the responsibility of the buyer.  2008 Taxes were; Tract 1 - $463.46, Tract 2-$321.16 and Tract 3-$435.62.  Seller(s) shall convey to buyer all CRP payments that may be payable in 2009. Seller agrees to convey 100% of Sellers mineral interest to Buyer. All minerals are believed to be intact. Tracts 1 & 2 are currently rented and the Buyer shall receive the landlords share of 2009 wheat crop being an undivided 1/3rd interest. Buyer of Tract 1 will be required to reimburse the tenant for burn down expenses on 82 idle acres in the amount of $1,582.72

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.

Terms:  Twenty per-cent (20%) down day of sale with the balance due at closing

 SELLER: Alfred O. Schleusener Estate

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