TERMS: 10% down day of sale, with the balance to be paid on or before August 31, 2012, or upon such terms as may be acceptable to the Sellers. 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. Announcements made day of sale take precedence over printed material and previously made oral statements.

MINERAL RIGHTS: All of the Sellers interest will transfer to the Buyer(s) at closing, including the new oil well on Tract 2.

CROPS: Buyer will receive the landlords 1/3rd share of the 2012 soybean crop on Tract 2. There are no growing crops on Tract 1.

FSA INFORMATION: Buyer(s) will receive the landlords 1/3rd share, if any, of all FSA feed grain payments associated with the 2012 crop year. See chart on back for FSA bases and yields.

CLOSING: Closing will be on or before August 31, 2012.

POSSESSION: Date of closing, subject to the tenants rights.

REAL ESTATE & ROYALTY TAXES: Seller will pay taxes for 2011 and prior years. Taxes for 2012 will be prorated to the date of closing. (See chart on back for 2011 taxes)

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 Sellers and one-half by the Buyer(s). Copies of the title insurance commitments will be available for review.

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 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.

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

WATER RIGHT INFORMATION: There is one irrigation well on Tract 2 covered under Water Right File #39327. There is a 5 year allocation from 2012-2016 of 26.25 AF at 630 GPM with a maximum authorized quantity of 49.5 AF.

TRACT 3 - IMPROVEMENTS

Tract 3 is approximately 7.5 acres, in the SE/4 in Section 25 and includes a bungalow style home with 2 bedrooms, full bath, CA and propane heat. This property includes an attached 1-car garage, 2 wells at the house and several supporting outbuildings.

Property is selling AS-IS, WHERE-IS with no warranties, either expressed or implied.

TRACT 2: There is a new oil well that has been drilled on Tract 2 and the pumping unit is in place. No production history is yet available. More details as they become available!

OPEN HOUSE DATES:

Sunday, July 15th and July 29th

2:00 to 4:00 PM

AUCTIONEERS NOTE: This is a great farm with a secluded setting on Walnut Creek -- just one mile off Highway 96 Northwest of Great Bend (see map).

We will offer this farm in 3 parcels, then in any combination of the 3 parcels. Plan to attend one of the two open houses to get a look at the property or call for a exclusive appointment!

This farm will make a great investment with the upside of getting the mineral rights intact.

SEE YOU AT THE AUCTION!!