Tract 1: $510,000
Tract 2: $550,000
Tract 1: From I-70 Toulon Exit 163, go 3 ½ miles North to Catherine Road, 3 miles East to 320th Ave, North ½ mile to the Southwest Corner of Tract #1.
Tract 2: From I-70 Toulon Exit 163, go 3 ½ miles North to Catherine Road, 3 ½ miles East to the Southwest Corner of Tract #2.
LEGAL DESCRIPTION TRACT #1:
The Northwest Quarter (NW/4) of Section Eleven (11), Township Thirteen (13) South, Range Seventeen (17) West of the 6th P.M. Ellis County, KS
95.69 Acres Cultivation
59.95 Acres Grassland
Tract 1 features primarily fertile class II Harney silt loam soils with slopes of 1-3% (all planted to wheat). Terraces are in place where necessary. The fenced grass acres consist of good native grasses and water is supplied by a pit pond in the SE corner of the tract, as well as an older water well.
LEGAL DESCRIPTION TRACT #2:
The Southeast Quarter (SE/4) of Section Eleven (11), Township Thirteen (13) South, Range Seventeen (17) West of the 6th P.M. Ellis County, KS
111.09 Acres Cultivation
45.79 Acres Grassland
Tract 2 is a nice tract consisting primarily of class II Harney silt loam soils with slopes of 0-1% and 1-3% (all planted to wheat). The grass acres are fenced and has been hayed in the past. The water supply is from an earth dam in the NE corner of the tract.
The 2021 Real Estate Taxes on Tract #1 were $817.50 and on Tract #2 were $942.76. The 2021 Taxes are paid in full. The 2022 Real Estate Tax will be prorated to the day of closing based on the 2021 taxes. All future real estate taxes to be the responsibility of the BUYER. The 2021 Oil Royalty taxes on tract #1 were $509.20 based on 2020 oil production. The oil royalty taxes will be prorated to the date of transfer being the 1st day of the month immediately following the closing date based on the 2021 oil royalty taxes.
All Sellers Interest to be conveyed with the transfer of the property to the purchaser. Tract 1 has 3 producing wells with 2 being part of a unitized lease to the west in Section 10. The last 3 years reported production being approx. Yr. 2018-872bbls; Yr 2019-862bbls; Yr 2020-446bbls. The North well RI being .125 and the Utilized wells RI being .01271250. The effective date of the transfer to be on the 1st day of the month immediately following the closing date.
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. The farm is in the PLC program.
On the cultivated acres (all planted to wheat). Possession will be at the completion of the 2022 wheat harvest. Possession on the grass acres will be at closing with the tenant reserving the electrical fence posts/wire, pipe, sucker rods, and round bales.
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 4th, 2022, 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. However, due to circumstances beyond Farmland Auction & Realty Co. Inc’s control, all parties will agree to automatically extend the contract closing date until all title requirements can be met and closing documents can be arranged. Sale is not contingent on 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 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 LLC. These tracts are 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.
Agency Disclosure: Farmland Auction & Realty Co., Inc is the agent of the seller. If purchaser desires representation, legal council is advised
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