Liebenthal, KS 67553(Rush County)

MANNER OF SALE: The real estate will be offered as a MULTI-PARCEL auction in 5 individual tracts and in combinations of tracts. It will be sold in the manner that produces the highest aggregate bid. There will be OPEN BIDDING on all tracts and combinations of tracts during the auction as determined by the auction company. Bids on tracts, tract combinations, and the total property may compete. Auction procedure and increments of bidding are at the discretion of the auction company. Machinery will be sold following completion of the land auction.

TERMS: 10% down day of sale, with the balance to be paid on or before December 30, 2013, 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. All machinery will be paid for at the conclusion of the Machinery Auction being held at the Unrein Building at the Ellis County Fairgrounds immediately after the land sale.

MINERAL RIGHTS: Minerals are believed to be 100% intact

Tracts 1, 4 & 5: All of the Sellers interest will transfer to the Buyer(s) at closing.

Tracts 2 & 3: Seller will reserve 50% of the mineral rights for a term of 10 years, or as long as production, if any, exists, with said reservation to be non-participating in lease monies, delay rentals and bonuses, but fully participating in royalties.

CROPS: Buyer(s) will receive100% of the 2014 growing wheat crop. There is RP crop insurance at the 65% level in effect on the 2014 wheat crop and Sellers will transfer all rights of indemnity to the Buyer(s) at closing. Buyer(s) will be responsible for payment of the premiums on the crop insurance policy and receive any benefits therefrom.

FSA INFORMATION: Buyer(s) will receive 100% of all FSA payments associated with the 2014 crop year, if any. See chart on back for base acres and yields.

CLOSING: Closing will be on or before December 30, 2013.

POSSESSION: Date of closing.

REAL ESTATE TAXES: Taxes for 2013 and prior years will be paid by the Sellers. 2013 taxes are combined in the amount of $ 7,399.52

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 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. ALL PROPERTY CAN BE INSPECTED DURING THE OPEN HOUSE DATES SET OUT ON THE FRONT OF THIS AUCTION BILL. Neither Sellers 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 real estate purchase contract immediately following the auction. Copies of the contracts will be available from the auction company prior to the sale.

EVIDENCE OF TITLE: Sellers will provide title insurance to the Buyer(s) in the amount of the purchase price. 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, if any.

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

Tract 5 features a 2,800 sq. ft. 7 year old custom-built home that offers a feeling of openness throughout, and offers a full finished basement, 3 or 4 car garage, 4 bedrooms, 2 baths, wood-burning fireplace, Alder cabinets, solid surface countertops, custom Mosaic tile work throughout and a large sewing/hobby room. Stainless steel kitchen appliances and the washer/dryer are included.

Additional structures include 50x80 machine shed; 40x120 all steel bldg., concrete floor, 220v electric w/40x40 insulated shop area. and a 10x32 utility shed.

The property is on rural water, and there is a water-filtration system and electronic air cleaner.

AUCTIONEERS NOTE: Steve & Julianne have decided to retire from farming and therefore will liquidate their land and farm machinery at auction on December 3, 2013.

This farm offers AN OPPORTUNITY OF A LIFETIME to put together up to 640 acres with a complete farmstead that the Stremels have built over the past 8 years THE HOME & OUTBUILDINGS ARE LIKE NEW!

We will offer this land as a MULTI-PARCEL sale so you can purchase it as a whole, or any part that you want! AND the house can be purchased in a separate tract!

The land is currently under an oil and gas lease. THE OIL COMPANY WILL STAKE A DRILL SITE THAT IS APPROXIMATELY 200N & 65W OF THE SE CORNER OF TRACT 3, AND THERE ARE 2 MORE PROPOSED DRILL SITES ON TRACT 3. ONE-HALF OF THE MINERAL RIGHTS UNDER THIS QUARTER WILL GO WITH THE LAND! Check the other minerals to be transferred on this brochure!

The growing wheat and crop insurance will go with the land! Immediate possession on the balance of the cropland with possession of the house at closing.

FOR DETAILS ON THE MACHINERY OR LAND

CALL STEVE STREMEL AT 785-259-6817.