MANNER OF SALE: This real estate will be offered as a “MULTI-PARCEL” auction in 3 tracts. Tract 1 will not be combined with Tracts 2 and 3. It will be sold in the manner that produces the highest aggregate bid. There will be OPEN BIDDING all tracts and combination of tracts 2 and 3 during the auction as determined by the auction company. 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 June 10, 2010, 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.

CROPS: Buyer(s) will receive the landlord’s 1/3rd share of the 2010 growing wheat crop on Tracts 1 and 3. There are no growing crops on Tract 2.

FSA INFORMATION: Buyer(s) will receive the landlord’s 1/3rd share of all FSA wheat payments and 100% of all FSA feed grain payments associated with 2010 crop year. See grid for base acreages and yields.

CLOSING: Closing will be on or before June 10, 2010.

POSSESSION:

TRACT 1: Date of closing, subject to the tenant’s rights.

TRACT 2: Date of closing, with the right to enter upon full execution of the contract and payment of the earnest money.

TRACT 3: After the 2010 wheat harvest.

REAL ESTATE TAXES: Sellers will pay taxes for 2009 and prior years.

Tract 1: Taxes for 2010 will be the responsibility of the Buyer.

Tracts 2 & 3: Taxes for 2010 will be prorated to the date of closing.

EVIDENCE OF TITLE: Sellers will provide title insurance to the Buyer 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.

ACCEPTANCE OF BIDS: The successful bidder will be required to enter into a Farm & Ranch Real Estate Purchase Contract immediately following the auction. Copies of the contract will be available from the auction company prior to the sale. Sale is subject to Sellers’ confirmation.

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.

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, if any.

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

AUCTIONEER’S NOTE:

Tract 1 is as good a quarter as there is in Wichita County! The location is next to town on a good road, which is always going to be a good selling point. The landlord’s share of the wheat is going to the Buyer.

The Greeley County land is in a very productive area. The landlord’s share of the wheat is going to the Buyer on this land also.

This sale will offer an excellent opportunity for a long term investment.

Signs will be posted! Give us a call if you have any questions!