MANNER OF SALE: This real estate will be offered as a MULTI-PARCEL auction in 6 individual tracts and in combinations of tracts. It will be sold in the manner that produces the highest aggregate bid. There will be OPEN BIDDING on all tracts and combinations of tracts during the auction as determined by the auction company. Bids on individual tracts, tract combinations, and the total property may compete. Auction procedure and increments of bidding are at the discretion of the auction company.

TERMS: 10% down day of sale, with the balance to be paid on or before November 28, 2012, or upon such terms as may be acceptable to the Seller. Personal and corporate checks are acceptable for the down payment with the final payment to be made in certified funds. All funds will be held by the auction company in their trust account or by an identified title/escrow company. Bidding is not contingent upon financing. Financing, if necessary, needs to be arranged and approved prior to the auction. Bids are subject to Seller confirmation. Announcements made day of sale will take precedence over printed material and previously made oral statements.

MINERAL RIGHTS: Buyer(s) will receive 25% of the Sellers mineral rights at closing. The remaining mineral rights will be subject to life estate reservations as follows:

Virginia Jeffery will retain a life estate reservation of 37.5% of the Sellers mineral rights and Virginias share in the mineral rights and/or production, if any, will then revert to the surface owners of the real estate.

Dorothy Schaezle, and Jeffery and Merita Schaezle will retain a life estate reservation of 37.5% of the Sellers mineral rights and upon the death of the last survivor, the remaining mineral rights and/or production, if any, will then revert to the surface owners of the real estate.

CROPS: Buyer(s) will receive the landlords 1/3rd share of the 2013 wheat crop. See chart below for planted wheat acres. All expenses will be paid by the Sellers.

FSA INFORMATION: Buyer(s) will receive the landlords 1/3rd share of 100% of all FSA wheat payments and 100% of all FSA feed grain payments, if any, associated with the 2013 crop year. See chart below for base acres and yields.

CLOSING: Closing will be on or before November 28, 2012.

POSSESSION: March 1, 2013, on the grassland acres and after the 2013 wheat harvest on the cropland acres to be planted to wheat this fall.

REAL ESTATE TAXES: Taxes for 2012 will be prorated to the date of closing. See chart below for 2011 tax amounts.

EVIDENCE OF TITLE: Seller will provide title insurance to the Buyer(s) in the amount of the purchase price with the premium to be paid one-half by the Buyer(s) and one-half by the Seller. Title evidence will be provided on sale day.

ACCEPTANCE OF BIDS: Each successful bidder will be required to enter into a real estate purchase contract immediately following the auction. Copies of the contracts will be available from the auction company prior to the sale.

ACREAGES: Acreage figures are considered to be approximate and are from reliable sources, based on (USDA) FSA figures. All FSA information is subject to change. FSA acres may not be the same as deeded acres. Acreages are not covered by title insurance.

INSPECTIONS: Each potential bidder is responsible for conducting their own independent inspections & due diligence concerning pertinent facts about the property. Neither Seller or Farm & Ranch Realty, Inc., its agents or representatives, are making any warranties about the property, either expressed or implied.

EASEMENTS: This sale is subject to all rights-of-way and easements, whether recorded or not, and to oil and gas leases of record, if any.

AGENCY: Farm & Ranch Realty, Inc., its agents and representatives, are the Exclusive Agents of the Seller.

AUCTIONEERS NOTE: The Jeffery Farm has been in the family for many years SOME OF THE TRACTS WERE HOMESTEADED BY THE FAMILY AND HAVE NEVER BEEN OFFERED FOR SALE! The farm consists of EXCELLENT cropland and pasture, with a great site for a home at the existing farmstead. There is good stock and domestic water.

The Buyer(s) will receive possession of the pasture and farmstead on March 1, 2013, with the wheat to be harvested by the tenant and the landlords share of the 2013 wheat going to the Buyer(s).

We will offer this farm in tracts and in combination of tracts. This would make an excellent location to start a farming operation and raise a family in the country! CALL DON FOR DETAILS AND ADDITIONAL INFORMATION!