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PUBLIC AUCTION

400± ELLIS COUNTY, KANSAS REAL ESTATE

FOR THE TRUSTEES OF THE

MAGNIFICENT "TIMBER ACRES TRUST"

formerly known as the Jensen Family Property

Only 5 Miles Northeast of Hays, Kansas

Beautiful Farmstead With a 2 Story Brick Home That Has Approx. 3,680 Sq. Ft. Plus a Full Basement - Development Potential –

Running Creek – Hunting and Ag Land – 1031 Acceptable

AUCTION DATE: TUESDAY, MAY 8th, 2007 – 6:00 P.M.

AUCTION LOCATION:1907 260th Ave. Ellis County, Ks. (at the farm site)

From I-70 at Hays, Kansas – 3 Mi. North on Hwy 183 to "Feedlot Road", 1 Mi. East on "Feedlot Road" to "260th Ave" and 1 Mi. North to Farm Site.

From Plainville, Kansas – (4 way stop) 18 ½ Mi. South on Hwy 183 to "Hopewell Road", 1 Mi. East on "Hopewell Road" to "260th Ave" and 1 Mi. South to Farm Site.

WATCH FOR SIGNS!

OPEN HOUSE - SUNDAY, APRIL 22nd, 2007 – 2pm to 5pm

PROPERTY WILL BE SOLD IN 3 INDIVIDUAL TRACTS

IN THE ORDER LISTED

Come Early to Register for a Bidder Number

TRACT 1 Sold - $190,000.00

Legal Description: Surface Only In and To: Southeast Quarter of the Southeast Quarter (SE/4SE/4) of Section Thirty-four (34) South, Township Twelve (12) West of the 6th P.M., Ellis County, Kansas being 40 Acres More or Less - Less a Tract Described as; Commencing at a point 360 Feet North of the Southeast Corner of Section Thirty-four (34), Township Twelve (12) South, Range Eighteen (18) West of the 6th P.M. in Ellis County, Kansas thence West 260 Feet parallel to the South line of said Section thence North at a right angle 180 feet thence east at a right angle 260 feet thence South at a right angle 180 feet to the point of beginning.

General Description: This 39± Acre Property Supports Many Great Amenities Including the Stately 2 Story Brick Home that Accents the Majestic Nature of this Property. This Home Has Approx. 3,680 Sq. Plus a Full Basement and an Open Attic, 6/7 Bedrooms, Many Walk-in Closets, 3 Baths and in the Basement You Will Find a Walk-in Cooler/Freezer. Water in the Home Is Provided by the Rural Water System and there is also a Water Well to Service the Farmstead and a Standby Generator to Provide Electricity in an Emergency. You Will Also Find a Great Set of Pipe & Rod Livestock Corrals, Out Buildings, Pasture for Your Livestock, Cropland and You Will Enjoy The North Fork of Big Creek That Travels Right Through This Tract Providing Great Habitat For All Kinds of Wildlife. This Tract Will Provide You The Solitude and Beauty of Country Living and the Convenience of Shopping and Your Favorite Restaurants Are Only Five Short Miles Away in Hays, Kansas Located Along I-70!

TRACT 2 Sold - $126,000.00

Legal Description: Surface Only In and To: The North Half and Southwest Quarter of the Southeast Quarter (N/2SW/4SE/4) of Section Thirty-four (34) South, Township Twelve (12) West of the 6th P.M., Ellis County, Kansas being 120 Acres More or Less.

General Description: The West Edge Tract of Land, Being Only One Half Mile From Hwy. 183 and Very Close to A New Housing Development Area Not Only Provides Some Excellent Cropland But A High Degree of Development Potential and the North Fork of Big Creek Also Travels Right Through This Tract Providing Great Habitat For All Kinds of Wildlife and a Great View! A Very Desirable Property for Many Uses!

TRACT 3 Sold - $177,000.00

Legal Description: Surface Only In and To: The Northeast Quarter and The North Half of the Southeast Quarter (NE/4 N/2SE/4) of Section Three (3), Township Thirteen (13) South, Range Eighteen (18) West of the 6th, P.M., Ellis County, Kansas Being 240 Acres More Less.

General Description: Again The West Edge This All Grass Tract of Land is Only One Half Mile From Hwy 183 Lending Itself to Development Potential as Well as Being Great Pasture for the Stockman. This Tract Has Excellent Native Grass, Good Fences and a Great Stock Water Pond.

ALL TRACTS ARE CONTIGUOUS – BUY ALL THEE AND BE THE ENVY OF EVERYONE!

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

Possession: Buyer shall be given possession of all property immediate upon closing

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: The 2006 and prior years taxes will be paid in full by the sellers. 2007 Taxes will be prorated to date of closing and all subsequent years taxes will be the responsibility of the buyer. 2006 Taxes on Tracts 1 & 2 (currently one taxable unit) is $1,879.16. Tract 3 - $290.30

Minerals: Minerals are all held by previous reservations and will not convey to the Buyer(s)

Conditions: All acreages and property descriptions are considered to be approximate and are deemed to be from reliable 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.

Note: If Tracts 1 & 2 are sold to different Buyers then the Sellers shall provide a survey to determine exact boundaries of Tract 1 otherwise we will be selling by legal description only.

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