LAND AUCTION

LAND AUCTION

570 Acres Pivot Irrigated Combination Farm

SOLD! $390,000.00

Box Butte County, Nebraska

December 15, 2005 • 1:30 p.m.

The Sale is to be Held at the Alliance American Legion Club, 1504 West 3rd, Alliance, NE

Land Located: From Alliance, Nebr. 4 miles north on Hwy. 87 & 2 miles east on Lincoln Rd. (northwest corner)

Offered In Three Tracts

Legal Description: W1/2, SE1/4 Section 9, Township 25 North, Range 47 West of the 6th P.M., Box Butte County, Nebraska.

Productive Farm ground: Tract #1 –

370 Acres +/-. This is an excellent farming unit. The land lays excellent. This combination unit offers the ability to expand and diversify. Highly rated McCook soils with 0-2% slope. This Land has good water, economical power and is capable of raising all crops associated with this area.

The Farm has Sprinkler Irrigated, irrigable land in corners and land serviced by pipeline. The Irrigated Acres are currently 221 acres under Pivot. There are 323 acres irrigated (Assessor records) and 320 shown by well registration.

Improved with 2 - 1977 Zimmatic Center Pivot Sprinklers, a 13,000 BU. Behlen Steel Grain Bin, and an area previously used for hay meadow on the east side and 2 Electric Motors & Pumps.

Deposit Sale Day: $20,000.00.

Energy Costs: Power is supplied by the City of Alliance. The 4 Yr. average power costs for electricity under the existing pivots is $14.42 per acre.

Well Information: 2 Irrigation wells # G-043984 & G-058580, registered gallons per minute: 1,050 gpm & 1,253 gpm, Static Level: 33’ & 27’, Pumping Level: 90’ & 136’, Well Depth: 374’ & 380’. Motors: 75Hp. & 60 Hp. Electric. Acres on registration: 175 & 145 acres.

Farm Service Agency Information: Estimated Total Direct Payment for 2005 = $2,837.00. The Buyer will be responsible to sign up the Farm for the 2006 payment. The Tenant will retain his share of the payment for the 2006 crop year on the 52 acres of planted wheat. (Payments are subject to FSA guidelines).

Both Pivots from the South East Field Showing Risers

Northwest Corner Looking East Planted Wheat on the East South Pivot

Home Acreage & Buildings: Tract #2 will be offered with 6 Acres +/-, Modest 2 Bedroom Home, 50’x95’x14’ Steel Building with full cement floor, 40’x24’ Shop with steel siding, 5 older Chicken House & Storage Buildings. Other amenities: submersible well, asphalt drive, currently rented, Buyer pays survey.

Pasture Land: Tract #3 Approx. 193 Acres+/- native grass on the south side of the section. This unit has one windmill and has been running 35 cows in the grazing season. The grass is somewhat sub-irrigated and will make a nice pasture. Should this land sell separate from the Farm it will be pre-described as the south 1,520 ft. +/- of the section. The Buyer of the Grass will be responsible to install fence primarily in the southwest quarter. Survey to establish line (as drawn) paid by the Buyer of Tract 3.

Minerals: The seller is reserving none. All minerals owned by the Andersen’s go with the land.

Possession: The Buyer will have full possession on Closing on Tracts 2 & 3. The Buyer of Tract 1 will have full possession of the land under irrigation as well as the stubble land for the 2006 crop year. The land in planted wheat is subject to the Tenant’s Rights of Possession on a 35% (Landlord’s share) 65% (Tenant’s Share). The grain bin is also leased until the 1st of May and the Buyer will receive a prorated share of the rent from the time of ownership.

Terms: The Price will be determined at Auction December 15, 2005 at the Legion Club in Alliance, Nebraska. The Farm will be offered in 3 Tracts or in Combination. This land is to be sold for cash. All financial arrangements must be made prior to auction. The deposit will be made day of sale upon being the successful bidder and signing the Purchase Agreement. The balance will be due at closing, on or before January 19, 2006. The sale is subject to seller confirmation. Announcements made at sale supersede all prior advertising, oral or printed. The Seller will cooperate with the Buyer if using a 1031 Tax-Deferred Exchange (not to exceed the closing date). Contact Kraupie’s Real Estate for more information at 308-262-1150.

The information contained herein has been obtained from sources believed to be reliable. We have no reason to doubt its accuracy, but we do not guarantee it. Buyers should make their own investigations and inspections.