Gorham, KS 67640(Russell County)

TERMS: 10% down day of sale, balance to be paid on or before May 17, 2012, 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 previously made oral statements.

MINERAL RIGHTS: Seller will retain 100% of the existing mineral rights for a term of 10 years, or as long thereafter as production exists, if any.

CROPS: There are no growing crops.

FSA INFORMATION: CRP Acres - 116.1

Cropland Acres - 30.0

Grassland Acres - 493.9

Base Acres DCP Yield

Wheat 30.0 33

Buyer will receive 100% of all FSA payments associated with the 2012 crop year

CRP PAYMENTS: There are 116.1 acres currently enrolled in the CRP program through 9/30/20 at $30.12 per acre for a total annual payment of $3,497. Buyer will receive 100% of the 2012 CRP payment which will accrue from October 1, 2011, through September 30, 2012.

CLOSING: Closing will be on or before May 17, 2012.

POSSESSION: Date of closing.

REAL ESTATE TAXES: Seller will pay taxes for all of 2011 and prior years. Taxes for 2012 will be prorated to the date of closing. (2011 Taxes= $857.76).

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.

ACCEPTANCE OF BIDS: The successful bidder 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.

EVIDENCE OF TITLE: Seller 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 and one-half by the Seller. Title evidence will be provided on sale day

INSPECTIONS: Each potential bidder is responsible for conducting their own independent inspections and due diligence concerning pertinent facts about the property. Neither Seller nor 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 any oil and gas leases of record.

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

IMPROVEMENTS:

Older 2 bedroom home, barn and a good set of steel livestock pens. Would make a great hunting lodge!

LOTS OF TREES AFFORDING EXCELLENT HUNTING. SALT CREEK RUNS THROUGH THIS PROPERTY.

AUCTIONEERS NOTE: This excellent offering of a square Russell County section boasts excellent grass turf, 4 wire fencing, good water from ponds and Salt Creek, making it great for cattle, along with good winter protection.

The Seller has enhanced the CRP with grazer alfalfa and the bee pollination program on approximately 11 acres near the East boundary. The seller has offered to pay one-half of the expense to remove the land from CRP. (Approximately $3,078)

The land is located 4 miles North of Gorham on an all weather road. This farm offers good deer, turkey and quail hunting.

Be sure to attend this auction

For more details call Scotty Legere at 785-650-9970.