SEALED BID LAND AUCTION

Selling for Jean Grisier and June Bottom

BIDS DUE MONDAY, JUNE 17, 2019, at 5:00 PM (CT)

Description: Offering 156 +/- acres of highly productive Southern Smith County farmland. This farm consists of 152 tillable acres with 3.5 acres enrolled in CRP (Wildlife Enhancement Program). The property would be a great add-on tract for a current operation or for an investor looking to diversify.  Multiple grain elevators all within a 5 to 20-mile radius. The current tenant has approximately 105 acres planted to wheat, with the remaining balance of 45 acres planted to corn.

Legal Description:  The Southeast Quarter (SE ¼) of Section Thirty-Six (36), Township Five (5) South, Range Fourteen (14) West of the Sixth Principal Meridian, Smith County, Kansas. Houston Township.

Property Location:  5 miles south of Gaylord, Kansas.  County Road M and 310 Road. Signs will be posted!

Acreage Breakdown:

156.60 Total Acres (Farm Service Agency Records)

151.92 Acres Cropland (Farm Service Agency Records)

3.50 Acres of CRP ($37.00 per acre, expires on 9-3-2023, Farm Service Agency Records)

FSA Base Acreage Report:

Soybeans: 15.57 base acres with a PLC yield of 30

Wheat: 79.33 base acres with a PLC yield of 36

Grain Sorghum: 33.40 base acres with a PLC yield of 79

Corn: 12.20 base acres with a PLC yield of 101

Soil Data:

Harney silt loam, 1 to 3 percent slopes 51.1 Acres

Harney-Mento complex, 3 to 7 percent slopes   34.1 Acres

Brownell gravelly loam, 2 to 10 percent slopes 22.7 Acres

Wakeen silt loam, 3 to 7 percent slopes  48.2 Acres

Possession:  Due to an existing cash rent lease that expires March 1, 2020, Buyer will be granted full possession of the 45 +/- acres of corn following the last day of harvesting the 2019 corn crop. Buyer will receive full possession of the remaining balance of 105 +/- acres following the last day of harvesting the 2020 wheat crop, or August 1, 2020, whichever day comes first. Buyer will receive all the 2019 cash rent in the amount of $6,766.00 and the 2020 cash rent for 105 acres in the amount of $4,620.00 at the time of closing.  3.5 acres of CRP pass to the Buyer at the time of closing.

Bidding Instructions:    All written bids must be submitted on or before Monday, June 17, 2019, at 5.00 PM (CT) to the office of State Line Properties, 205 South Main Street, Smith Center, KS 66967. You can download the bidding form on our website www.mybrokerdiscount.com or by picking one up at the office of State Line Properties.  The form can also be found inside our information box that is attached to the For Sale sign in front of the property location.

Award of Contract:   At the conclusion of the bidding process at 5:00 PM (CT), Monday, June 17, 2019, the Seller may award the farmland to the highest bidder. The Seller reserves the right to accept and/or reject any and all bids.

Terms of Sale:  By submitting a sealed bid to purchase the land, Bidder agrees to participate and be bound by the terms and conditions of this sale. Following the conclusion of the bidding process, the successful buyer will enter into a written purchase agreement contract. Ten percent (10%) down payment the day of signing the contract. Balance due at closing on or before July 22, 2019. Seller will provide marketable title to the buyer evidenced by a policy of title insurance. Cost of title insurance and closing costs will be split equally between seller and buyer. Seller shall pay 2019 and all prior year real estate taxes. Taxes for 2020 and beyond to be paid by Buyer. The property will not be sold subject to financing. Financial arrangements must be made prior to bidding. The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either express or implied, concerning the property is made by the Seller or State Line Properties. Each prospective bidder is responsible for conducting his/her independent inspections, investigations, inquiries and due diligence concerning the property. State Line Properties, Shawn Phelps, broker is the agent for the seller only. Announcements made the day of sale take precedence over all printed materials.