Cheyenne County Farm Land  & CRP

Auction

Monday, February 21, 2005  • 1:30 PM MST Community Hall, Lodgepole, Nebraska

Non-Irrigated Farm Ground and CRP

Tract One: in Section 23–13–47 is 137 Acres +/-   SOLD! for $57,000.0

This Farm is enrolled into the Conservation Reserve Program.

There are currently Four Existing CRP Contracts. Two Contracts have 12.3 Acres in grass water ways (from 10/01/2001 to 9/30/2011). The annual payment for these Two Contracts is $514.00.

Two newer Contracts have approximately 123 acres in the regular grass Conservation Reserve Program from 10/01/2005 to 9/30/2020 (This acreage is subject to change by FSA and exact seeding). The Approximate CRP payment for these Two Contracts is estimated to be $4,558.00. The land under the two newer CRP Contracts is not yet seeded and will need to be prepared and seeded in accordance with the Contract. It will be the Buyer’s responsibility to prepare and seed the land for the CRP Contract.  The Buyer will receive the Program Payments from 10/01/04 but must assume and comply with all existing CRP Contracts.

LOCATION: from Lodgepole, Nebraska 2 1/2 miles west on Hwy. 30 to CR 143 then 4 1/2 miles south to the Northwest corner!

Tract Two: in Section 7-12-47 is 197 Acres +/-  Sold for $61,750.00

There are approximately 176.4 acres of non-irrigated farm land. There are 157 Acres planted to certified organic wheat! Buyer Receives 100% Planted Wheat!  This land lays excellent. Organic Certification should Buyer desire to continue! The bases prior to CRP reduction were: Wheat 87.7 acres, 36 bu. yield; Barley 14.3 acres, 37 bu. yield.

This farm is streamlined for highest and best use and return.

The marginal portions of the farm land are enrolled in the CRP. There are 37.6 acres accepted into the CRP Program at $37.00 per acre with an annual payment expected of $1,391.00. The estimated Direct Payment for 2005, less the acre reduction for CRP, is estimated to be $1,172.00. The land under the CRP Contract is not yet seeded and will need to be prepared and seeded in accordance with the Contract. It will be the Buyer’s responsibility to prepare and seed the land for the CRP Contract.

The Buyer will receive the Program Payments (Direct & CRP) from 10/01/2004 but must assume and comply with all existing CRP Contracts.

LOCATION: from Lodgepole, Nebraska 2 1/2 miles west on Hwy. 30 then 7 1/2 miles south on CR 143, 1 1/2 miles west on CR 8, and 1 mile south on CR 141 to the northeast corner.

Note: The Direct FSA Payments will be adjusted due to CRP enrollment. All payments are subject to change from FSA due to updated measurements.

   This is an opportunity to take advantage of an Income producing property and a wildlife habitat. There are obligations involved with CRP.   Please contact NRCS for specific information.  If you are in a position to buy property of this kind please don’t miss this opportunity.

Taxes: The 2004 Real Estate taxes are approximately: Tract One: $519.38; Tract Two: $855.32, (paid by Seller).

Terms of Sale: The Farm is to be sold on a cash basis with the following deposit made sale day upon being the successful bidder and signing the purchase agreement. DEPOSITS REQUIRED SALE DAY: Tract One: $5,000.00, Tract Two: $7,500.00, Both Parcels: $10,000.00. The balance shall be due at closing on or before March 22, 2005.

This will be a non-refundable deposit as the Seller will be contractually obligated to sell and the Buyer will be contractually obligated to Buy. The sale is not subject to the Buyer obtaining a loan. Please make all financial arrangements prior to sale. The Buyer and Seller will co-operate with either party in using a 10-31 Tax-Deferred Exchange, not to exceed intended closing.  The Sale Is subject To Seller Confirmation, however their desire is to Sell! All Lands are west of the 6th PM in Cheyenne County, Nebraska. Please call Kraupie’s Real Estate at 308-262-1150 for detailed information.

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. Announcements at sale take precedence over all prior advertising.

Barnes Farms, Inc.