LEGAL DESCRIPTIONS: All of Sections 22-11-45 & 23-11-45
CROPS: Seller will retain 100% of all 2013 crops. Buyer will receive 100% of the 2014 wheat crop to be planted this fall, approximately 288 acres. See chart for cropland acres, FSA bases and yields.
FSA PAYMENTS: Seller will retain 100% of all FSA payments associated with the 2013 crop year. Buyer will receive 100% of all FSA payments, if any, associated with the 2014 crop year.
CSP INFORMATION: There are 30 acres in the SE/4 of 22-11-45 currently enrolled in the CSP program through 12/31/2015. FSA has advised that the acres are eligible for transfer into a new CSP contract for the remainder of the original contract term provided the Buyer meets all eligibility requirements. Seller will retain the 2013 CSP payment that is due and payable on or about Oct 1, 2013, and Buyer will receive 100% of all future payments.
MINERAL RI...
MINERAL RIGHTS: Seller will retain of the existing mineral rights for a term of 10 years, or as long as production exists, with said reservation to be non-participating in lease monies, delay rentals and bonuses, but fully participating in royalties. There is a current oil & gas lease of record on Section 22-11-45 thru 2017.
POSSESSION: Date of closing on the cropland acres and second house, subject to Sellers right to harvest the 2013 fall crops. Possession of main house, 40x100 shop and machine shed (60x150) are negotiable.
REAL ESTATE TAXES: Seller will pay taxes for 2012 and all prior years. Taxes for 2013 will be prorated to the date of closing. (2012 taxes = $6,083.64)
PRICE: $6,000,000
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