MANNER OF SALE: This real estate will be offered as a MULTI-PARCEL auction in 5 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 January 7, 2015, 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 an identified title/escrow company. Bidding is not contingent upon financing. Financing, if necessary, needs to be arranged and approved prior to the auction. Announcements made day of sale take precedence over all printed material and previously made oral statements.

MINERAL RIGHTS: Mineral rights are subject to a prior reservation of record. Seller will transfer surface rights only to the Buyer at closing.

CROPS: There are no growing crops.

FSA INFORMATION: Any FSA farm program payments associated with the 2014 and future crop years under the 2014 farm bill will be subject to FSA program elected provisions at the time of signup. Seller will retain any payments associated with the 2014 crop year, and Buyer(s) will receive any payments associated with the 2015 and future crop years. See chart below for estimated FSA base acres & yields.

CLOSING: On or before January 7, 2015.

POSSESSION: Date of Closing.

REAL ESTATE TAXES: Taxes for 2014 will be paid by Sellers. See chart below for 2013 tax amounts.

SURVEY: In the event the tracts sell separately, Sellers will provide a survey where needed sufficient to provide title insurance and convey title to the Buyer(s) at closing.

ACCEPTANCE OF BIDS: The successful bidder(s) will be required to enter into a 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, including but not limited to the number of cropland acres, grass acres, base acreages and yields. FSA acres may not be the same as deeded acres or county appraiser acres. Acreages are not covered by title insurance.

EVIDENCE OF TITLE: Sellers 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 Sellers. Title evidence will be provided on sale day.

INSPECTIONS: Each potential bidder is responsible for conducting their own independent inspections and due diligence concerning pertinent facts about the property. Neither Sellers 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 Sellers.

AUCTIONEERS NOTE: Clear Lake Ranch is located near the Arkansas River south of Lakin, Kansas. This irrigated farm and ranch boasts 9 sprinklers, 9 three-phase electric irrigation wells, 2 domestic wells (one with a pipeline to hydrants at each pivot), complete perimeter fence and cross fences, great set of corrals with waterers and calving barn, over 500 acres of native pasture to enhance the grazing capability of the ranch, 2 basic homes, shop building and many roads and trails to each respective sprinkler. These 9 pivots have historically been planted to irrigated grasses, i.e.; Bermuda, wheat grass and more, for beef cattle production in rotation and handle as many as 400 pairs plus yearlings, and the farm has production history of corn, alfalfa and milo.

Two of the pivots are poly-lined Valley sprinklers and six are T&L hydraulic sprinklers with polyurethane underslung pipe on variable drive units. The wells are mostly in the 650 GPM range with depths of 200 feet. All wells have been pulled within the past 10 years and are equipped with 40-50 HP 3-phase electric motors. FOR A TOUR OF THIS OUTSTANDING PROPERTY, CALL LISTING AGENT, STEVE HAZLETT AT 785-443-3110!

MACHINERY WILL SELL IMMEDIATELY FOLLOWING THE LAND