REAL ESTATE AUCTION

CROPLAND & FARMSTEAD

THURSDAY, MARCH 3, 2016

7:00 P.M.

Auction will be held in the American Ag Credit Office at 925 W. Magnolia Road in Salina, Kansas

LEGAL DESCRIPTION

NE ¼  35-15-3 Saline Co. Kansas except road & highway right of way;

The farm is located at the southwest corner of south old highway 81 & highway 4. This location is 4 miles South of Waterwell Road in Salina, Kansas. 

There are 130.78 acres with 127.30 cropland acres.  Base acres are 74.52 wheat with 38 bu yield, 26.04 grain sorghum with 55 bu yield, 26.04 soybean with 24 bu yield for a total base acres of 126.60.  Conservation system is being actively applied.

There are older buildings on the property.  Seller will do no inspections or repair on the house, outbuildings or homestead grounds.  Seller will provide no warranty or representation either expressed or implied, as to any aspect of the condition of the property and buildings.  All inspections must be made by the potential purchaser at their own risk before March 1, 2016.  Inspections must be scheduled with the sellers agent.

Purchaser will pay all of 2016 taxes.  2015 taxes were $1,675.66. All mineral rights convey to purchaser.

Terms:  10% of purchase price as down payment day of auction, the balance will be due upon closing on or before April 11, 2016.  Down payment will be escrowed with Kansas Secured Title.  Escrow fees will be split 50/50 between seller & purchaser. Title insurance will be used, the cost will be split 50/50 between seller & purchaser.   

Possession of land planted to wheat will be after 2016 wheat harvest. Purchaser will receive cash rent of $60.00 per acre on 127.30 acres planted to 2016 wheat crop. Possession of buildings and homestead ground will be upon closing. Thummel Real Estate & Auction LLC is acting as seller agent.  All statements made day of auction take precedence over printed material. Signed real estate contract will supersede and replace this auction notice, auctioneer statements and printed material.

LOIS L. JAMES & WILLIAM K. OETTING REV TRUST

Auction Conducted By

Thummel Real Estate & Auction LLC

785-738-0067