TERMS: 10% down day of sale, with the balance to be paid on or before December 7, 2014, 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 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. All bids are subject to Seller confirmation. Announcements made day of sale take precedence over printed material and previously made oral statements.

MINERAL RIGHTS: MINERAL RIGHTS ARE BELIEVED TO BE 100% INTACT and will transfer to the Buyer at closing. There is a producing gas well on Tract 2 and the Buyer will receive all of the Sellers interest, including royalty production, at closing. (ROYALTY INCOME: 2013 - $626.79 & 2012 - $350.88)

CROPS & CROP INSURANCE: Buyer will receive the landlords 1/3rd share of the 2015 wheat crop. Seller will retain the landlords 1/3rd share of the 2014 milo crop. Buyer(s) will be responsible for reimbursement to tenant for farming operations and spraying of the wheat stubble. There is RA crop insurance in effect at the 70% level on the 2015 wheat crop and Buyer(s) will pay the landlords 1/3rd share of the premiums and receive any benefits therefrom.

FSA INFORMATION: All FSA farm program payments associated with the 2015 crop year shall be subject to FSA program elected provisions at the time of signup.

CLOSING: Closing will be on or before December 7, 2014.

POSSESSION: Date of closing, subject to the tenants rights on the 2015 wheat crop.

REAL ESTATE TAXES: Seller will pay taxes for 2014 and prior years.

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

ACCEPTANCE OF BIDS: The successful bidder(s) will be required to enter into a real estate purchase contract immediately following the auction. Copies of the contract 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.

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

AUCTIONEERS NOTE:

This is a GREAT CROPLAND FARM in one of the best farming communities in Western Kansas! The land has been in the Mitchell family for many years. It is a once-in-a-lifetime opportunity to acquire good land with great soils AND mineral rights. There are good tenants available for the investors!

Call Travis Weaver, listing agent, at 620-376-4600 for further details concerning this outstanding listing. We look forward to seeing you at the auction on November 7, 2014, at the Clarion Inn in Garden City!