Schools in the immediate area include Higgins, Follett and Canadian, Texas.

The current farm manager resides in the Higgins area and is experienced in irrigated farming. This 43-year-old man is very familiar with this property, has been an integral part if the operation for several years and could be available to continue managing the property or perhaps would be interested in a crop-share rental agreement or a cash lease.

This man will be a definite asset to the property according to the owner.

The small tract of land depicted on the ownership map and situated south of Hwy. 60 and north of the Santa Fe railroad is in its native habitat and a real haven for quail as well as providing another trap for livestock with water piped under the highway to the stock watering tank on this tract.

Quail are also hunted on other areas of the property and antelope and deer are numerous in the area. A commercial hunting venture would certainly be possible in conjunction with surrounding neighbors.

Due to the extensive concentration of tax depreciable assets associated with this property, there are considerable income tax deferral opportunities with this farm/ranch. According to the owner of this property it is entirely possible to offset returns from the land with comparable depreciation deductions resulting in the equivalent of a tax free return for as many as nine years.

North Tract: IMPROVEMENTS ON THE NORTH TRACT INCLUDE:

Irrigation Equipment

A. Four irrigation wells on natural gas (including the new well developed in excess of 1400 GPM) with a 10,000+ gallon liquid fertilizer tank located at each well (three-phase electricity available at each well).

B. One domestic well with 2 1/2 HP submersible electric motor and pump and a second domestic well with no pump.

C. Approximately 4.5 miles of underground 8" irrigation line (80# pipe), approximately 3 miles of 2" domestic water line and all four wells are interconnected with underground pipe to all eight sprinklers.

D. Eight sprinklers of which seven are 1976-77 quarter-mile, ten-tower, Zimmatics and one 1999 quarter-mile, 7-tower, Valley.

Cattle Equipment

A. One set of steel corrals with four pens and sorting alley.

B. Permanent single deck and double deck loading/unloading chutes

C. covered processing area with hydraulic chute.

Fencing

A. Each quarter-section is fenced speartely with stock water in each parcel.

B. Two miles of new, five-strand, barbed wire fencing on the west side.

C. Five starter taps with stock water in each trap.

D. Approximately twelve miles of barbed wire fencing.

Equipment, Feed and Grain Storage

A. One 40' X 60' steel barn with one end used for hay storage and one end for shop/storage.

B. One Dennis overhead cake bin witha capacityof 30 tons (estimated).

C. One overhead, cone bottom bin used for feed storage at this time with a capacity of 8 tons.

D. One box car used as a tack and saddle house/medicine room in conjunction with covered working area.

Homesite

Approximately 1,360 sqare feet, 3-bedroom, 1 1/2 bath home with a nice yard, carport and unattached storm cellar.

South Tract: IMPROVEMENTS ON THE SOUTH TRACT INCLUDE:

Irrigation Equipment

A. Four irrigation wells on natural gas with a 10,000+ gallon liquid fertilizer tank located at three of the wells and a 3000-gallon fiberglass tank at the fourth (three-phase electricity available at each well).

B. Four domestic wells ( two with submersible electric motors and pumps and two without pumps).

C. Approximately 2 3/4 miles of underground 8" irrigation line (80# pipe).

D. Six sprinklers of which three are 1998-2000 quarter-mile, 7-tower Valleys, one 1977 quarter-mile, 10-tower Valler, one 1974 11-tower Gifford Hall on the 87 acres and one 1977 15-tower Zimmatic on the 274 acres (all sprinklers have been updated and equipped with drops).