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75 +/- acres Ellis Co. Real Estate & “Producing Minerals”

Jul 1, 2024, 10:00 AM

Auction flyer for 75 +/- acres Ellis Co. Real Estate & “Producing Minerals”

LAND LOCATION:

From Hays, KS Hwy 183/I-70 Exit 159, North 14 miles to Saline River Road, East 1 mile to the Northwest Corner of the Tract

TRACT 1 LEGAL DESCRIPTION:

SURFACE RIGHTS ONLY:  The North Half of the Northeast Quarter (N/2 NE/4) of Section Fourteen (14), Township Eleven (11) South, Range Eighteen (18) West of the 6th P.M. Ellis County, KS.  LESS an approximate 3.6-acre tract beginning 1,109.73’ West and 33’ South of the Northeast Corner of the Northeast Quarter, then south 596.58’, Then West 127.7’, Then south 67.37’, Then west 110.97’, then North 110.97’, then east 267.02’ to the POB

F.S.A. INFORMATION:

70.53 +/- Acres Cultivation

4.37 +/- Acres Trees and Lease roads

GENERAL INFORMATION:

This is a very nice tract of cultivation along the Saline River Road with primarily Class II productive soils and minimal slopes.  There are also 2 producing wells and a saltwater disposal well that will sell with the property.  This tract is a good productive tract of farm ground that will provide an excellent monthly income.  A Saltwater Disposal Well referred to as “Deane #7 Well”, receives $500 annually per outside well with a minimum of $1,500 annually.  There is also a $500 annual tank site lease payment. 

TRACT 2 MINERALS & PRODUCING OIL ROYALTIES:

All Seller’s Interest will convey with the property.  Seller’s Oil Royalty Interest is .109375.  The wells are in the Arbuckle formation and have been produced since 1986.  Production History on 2 units (7,944bbls 2023; 7,481 2022; 7,462bbls 2021; 8,217bbls 2020).  Effective date of transfer to be the 1st of the month immediately following closing. 

TRACT 3 MINERALS & PRODUCING OIL ROYALTIES:

Combination of Tract 1 “SURFACE RIGHTS” and Tract 2 “PRODUCING OIL ROYALITIES” with the highest aggregate bid (either individually or combined) being the manner of sale. 

TAXES:

Year 2023 taxes and all prior taxes to be paid by the Seller.  Year 2024 and all future taxes to be prorated to the day of closing based upon 2023 tax amounts.  The 2023 Real Estate Taxes were $449.04, and the Oil Royalty Taxes were $5,370.40

GOVERNMENT PROGRAMS:

Purchaser to stay in compliance with all US Government Programs the property is presently enrolled in. Government payments to follow current F.S.A. guidelines. This tract is enrolled in the PLC program.

POSSESSION:

Possession on the west 39.46 +/- acres of cultivation to follow the 2024 milo harvest or December 1, 2024, whichever comes 1st.  Possession on the East 31.07 +/- acres will transfer following the 2025 wheat harvest or August 1, 2025, whichever comes 1st.  The landowner will receive the 1/3 landowner’s share of 2024 milo & corn crops and 2025 wheat delivered to an elevator in the landowner’s name. 

TERMS10% down day of sale, balance to be paid upon title approval and delivery of deed, said closing to be on or before August 15th, 2024, or as soon as title requirement, if any can be corrected.  Every effort will be made to honor said original closing date set forth in this contract.  Sale is not contingent on the purchaser obtaining financing.  Financing, if necessary, needs to be approved prior to the auction.  The seller agrees to convey said property by a good and sufficient Trustees Deed to the purchaser, subject to easements restrictions, roads, rights-of-way, 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 and pay for title insurance showing merchantable title in the Seller.  Title Insurance is being prepared by Field Abstract & Title. This tract is being sold by U.S. Government Survey.  If the purchaser feels that an additional survey is needed, the cost shall be the responsibility of the Purchaser. 

Listing Agent:  Jason Pfeifer (785) 483-1805

Agency Disclosure:  Farmland Auction & Realty Co., Inc is the agent of the seller. If purchaser desires representation, legal council is advised.

LIVE INTERNET & PHONE BIDDING AVAILABLE. CALL FOR DETAILS.

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