Southern Morrill County Dry Land Farm

AUCTION

Thursday,   December 7, 2006

SALE TIME:  1:30 P.M.

Sale to be held at the Dalton American Legion Hall in Dalton, Nebraska  

165+ Acres Productive Wheat Land

SOLD! $70,000.00

A good quarter section of farmland in a wheat and summer fallow rotation.  This farm has long been held in the Brogren Family and has proven to be an excellent producer. There are 106 acres seeded to wheat for harvest in 2007. The Buyer will receive a 1/3 Landlord’s share of the planted wheat and will receive the Landlord’s 1/3 share of the FSA Direct Payment.  There is 58.95 acres of stubble.

LEGAL DESCRIPTION: NW1/4 Section 17, Township 17N, Range 51 West of the 6th P.M., Morrill Co., NE.

LAND LOCATED:  from Dalton, Nebraska; 13 miles West on CR 58, and 2 & 1/2 North on CR 85 to the South West corner of the land.

FSA INFORMATION: 165.3 acres of Cropland; 78.2 acres of Wheat Base with an FSA Yield  of  40 Bushel. 

8.8 acres Oat Base, FSA Yield 37 Bushel

3.2 acres of Barley Base, FSA Yield 41 Bushel

Total farm direct payments for 2006 were $1,416.00.

SOILS: Primarily Keith Class 1 & 2 Silt Loam rated highly productive.

REAL ESTATE TAXES:  The 2006 taxes are $862.24

MINERALS: The Sellers are reserving a one-half non-participating royalty interest in Oils, Gases and Minerals for 15 years from date of the deed.   The land is not under current gas, oil or mineral lease.

TENANT: Gene Brogren is the tenant for the 2007 wheat crop. The new owner will receive 1/3 of the 2007 wheat crop, 1/3 of the FSA Direct Payments.  Buyer will receive full possession of the stubble on closing.

TERMS:  This land to be sold for cash and is not contingent upon loan approval.  All financial arrangements must be made prior to the auction.  A Deposit of $10,000.00 will be required day of sale upon being the successful Bidder and signing the Purchase Agreement.  The balance will be due on or before January 8, 2007 when possession will be given, subject to the tenant’s rights to harvest the 2007 crop.

The sale is subject to Seller confirmation; however, it is the intention of the Sellers to sell to the highest and best bidder. Contact Kraupie’s for complete information. Announcements at sale supersede all prior advertising printed or oral.

Keith & Sherry Brogren

Owners