ST. FRANCIS PARISH HALL , Norton, KS 67654(Norton County)

TERMS: Buyer(s) will pay 10% down day of sale, with the balance to be paid on or before November 29, 2010, 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. Announcements made day of sale take precedence over printed material and previously made oral statements.

MINERAL RIGHTS: All of the Seller’s interest will transfer to the Buyer(s) at closing.

CLOSING: On or before November 29, 2010.

POSSESSION: Date of closing, subject to the cash lease agreement on the cropland acres with possession after wheat harvest in 2011, and subject to the pasture lease on the grassland acres with possession February 28, 2011.

CROPS: Subject to a current cash lease agreement.

FSA INFORMATION: FSA payments associated with the 2010 crop year and all FSA wheat payments associated with the 2011 crop year will be retained by the tenant under the current cash lease agreement. Buyer(s) will receive 100% of all FSA feed grain payments associated with the 2011 crop year.

REAL ESTATE TAXES: Seller will pay taxes for 2009 and prior years. Taxes for 2010 will be the prorated to the date of closing.

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 Seller or Farm & Ranch Realty, Inc., its agents or representatives, are making any warranties about the property, either expressed or implied. Statements, while not guaranteed, are from reliable sources.

ACCEPTANCE OF BIDS: Each 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.

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

EASEMENTS: This sale is subject to all rights-of-way and easements, whether recorded or not, and to any oil and gas leases of record. Seller will reserve an access easement to Tract 4 along the south side of Tract 2.

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

AUCTIONEER’S NOTE: The Pfannenstiel Heirs will sell this terrific farm at ABSOLUTE AUCTION to the highest bidder on Tuesday, October 26 in Norton. There are diversified tracts to choose from -- Tract 2 includes a great farmsite on 60+ acres. Tracts 4, 5 & 6 are mostly native and improved pasture while Tract 3 is mostly cropland.

With our “multi-parcel” system you can put any or all of the tracts together to make a great combination! The home is currently occupied, so call for an appointment to see the house. The tracts will be surveyed by the Sellers in the event of multiple owners. Call for a tour or more information!

Tract 2 features a 2-story home with 5 bedrooms, barn, loafing shed, and other supporting outbuildings. There is also has a submersible well and a windmill.

INTERNET BIDDING AVAILABLE –

Register by October 22nd to bid online. Call for details.