For: Humburg Farm LLC
Date: Mon., March 19th, 2018
Time: 10:00 A.M.
Auction Location: American Legion, 220 N Austin St. Bazine, KS

Land Location
From the intersection of Hwy 96 & DD Rd. in Bazine, KS, go 5 ½ Mi. S to the NEC of the property

Tract I Legal Description
Southeast Quarter (SE/4) of Section Twenty-Five (25) Township Nineteen (19) South, Range Twenty-Two (22) Ness Co., Ks-Surface Rights Only

Disposal Well
Salt water disposal well payment is $600/yr, per outside lease. At this time, the annual payment is $4,200 & is paid in advance covering the time period of June to June. Payment is made by Pickrell Drilling Co. Inc. Purchaser to receive the June 2018/ 2019 and future payments.

F.S.A. Information
147.57 Acres Cultivation
2.96 Acres Grass Waterways
4.53 Acres Lease Rds. & Tank Battery Sites

Tract II Legal Description
All of seller’s minerals and producing royalty interest on Tract I, decimal interest being .09375. There are presently 4 producing oil wells. Total production in 2017 was approximately 5,119 bbls. Effective date of transfer will be June 1st, 2018.

General Information
This tract offers outstanding soil types, which consist of Harney & Uly Silt Loam soils with 1-3% slopes. There are all weather roads on the East & South Sides of the property providing excellent access.

Taxes
Seller to pay 2017 and prior taxes. 2018 and future taxes to be paid by purchaser. Oil tax is to be prorated to June 30, 2018. Real Estate taxes on the property for 2017 was $983.74 and the Oil Tax for 2017 was $462.88.

Government Programs
Purchaser to stay in compliance with all US Government programs the property is currently enrolled in. Government payments to follow current F.S.A. guidelines. Wht Base Acres-110.5A, PLC Yield-35, Government Program-PLC

Possession
Upon closing on milo stalk acres and the wheat stubble acres with the purchaser paying the tenant, Alan Rein, $1,389.00 for custom farming and/or chemical application associated with wheat stubble acres. Possession on approx. 64.4 planted wheat acres will be after the 2018 wheat harvest with the purchaser receiving the land owners 1/3 share of the harvested crop, delivered to the nearest elevator in purchaser’s name. Purchaser to be responsible for their 1/3 share of any additional costs related to the growing wheat crop, that maybe applied after March 19, 2018.

Terms
10% down day of sale, balance to be paid upon title approval and delivery of deed, said closing to be on or before April 19th, 2018 or as soon as title requirements, if any, can be corrected. The seller agrees to convey said property by a good and sufficient Deed to the purchaser, subject to easements, restrictions, roads, right-of-ways, leases, reservations and county zoning regulations of record.  Said deed shall be delivered to the purchaser at the time of settlement. Seller(s) to furnish warranty deed and title insurance showing merchantable title in Seller.

Agency Disclosure

Farmland Auction & Realty Co., Inc. is the agent of the seller. If the purchaser desires representation, legal counsel is advised. Announcements made day of sale shall take precedence over printed material

Farmland Auction & Realty Co., Inc.

1390 E 8th, Unit A, Hays, KS 67601

785-628-2851 Toll Free: 1-888-671-2851

E-Mail: farmland@farmlandauction.com

Web: www.farmlandauction.com