Event: Auction: 80 +/- Acres Ellis Co., KS

Auction: 80 +/- Acres Ellis Co., KS

Sale Bill

CULTIVATION       &        C.R.P.

Auction:80 Acres More or Less Ellis County, Kansas

For: Ladonna M. Herman Trust

Date: Monday, June 15th, 2020
Time: 10:00 a.m.
Auction Location: Knights of Columbus Hall, 1013 Washington St., Ellis, KS.

Land Location:
From the Highway 40 and Ellis Avenue Junction in Ellis Kansas, go 2 ½ Miles South on Ellis avenue to Vineyard Road, then go East 1 ¾ Miles to SWC of the property.

Legal Description:
East Half of the Southeast Quarter (E/2 SE/4)of Section Twenty-two (22), Township Thirteen (13) South, Range Twenty (20) West of the 6th P.M., Ellis County, Kansas

F.S.A. Information:
51.91 Acres Cultivation (planted to wheat)
19.23 Acres C.R.P. @ $40.54/Acre from 9-1-2015 to 9-30-2029
4.88 Acres Grass Waterway and Oil Well Site

General Info:
80 Acres which features excellent cultivation, a C.R.P. contract that goes through 2029 and all Seller’s interest in the producing oil well. This property has excellent access on both the East and South sides.

Seller to pay 1st half of 2020, (based on 2019 Taxes) and prior taxes. Purchaser to pay 2nd half of 2020 and future taxes. 2019 taxes were $421.50.

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.

Base Acres PLC Yield
Wheat- 24.17 36 bu.
G. S.- 11.93 54 bu.

All Sellers interest (.125 RI and .0273437 ORRI) to be conveyed to Purchaser. Effective date of transfer on oil production to be August 1st, 2020, with Seller paying 1st half of 2020 and prior oil tax (based on 2019 taxes) and Purchaser to pay 2nd half of 2020 and future oil taxes. Total oil production in 2018 was 802 bbls, KS Oil & Gas records showed 712 bbls produced through November of 2019.

10% down day of sale, balance to be paid upon title approval and delivery of deed, said closing to be on or before July 15th, 2020, or as soon as title requirements, if any, can be corrected. Due to circumstances beyond Farmland Auction & Realty Co. Inc.’s control, concerning the Novel Coronavirus (COVID 19), all parties will agree to automatically extend the contract closing date until all title requirements can be met and closing documents and/or financial commitments can be arranged. Every effort will be made to honor said original closing date set forth in this contract. 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, 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 title insurance showing merchantable title in Seller. This tract is being sold by U.S. Government survey. If the Purchaser feels an additional survey is needed, the cost shall be the responsibility of the Purchaser.

Possession is to be at closing on C.R.P. and grass waterways with 100% of 2020 and future C.R.P. payments going to Purchaser. Possession on the cultivation is to be after the 2020 wheat harvest is complete.

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