555 Acres in Culbertson, NE

This cash sale requires a 15% earnest deposit at signing of the Purchase Agreement immediately following the Auction. The balance of the purchase price is payable in certified funds at Closing, on or before December 30th, 2021. There is no contingency for financing. Sellers to convey title by Warranty Deed; with Title Insurance evidencing merchantable title. Cost of Title Insurance and an Insured Closing by the Title Company will be shared 50/50 by Seller/Buyer. Property sells subject to easements, rights-of-way, zoning, and restrictions of record; Free and clear of all liens. The property sells in as-is condition; No warranty is expressed or implied as to the adequacy of any portion of the property. Auction conducted as an Absolute Auction without reserve.

Legal Description:

Parcel 1: NE1/4 Section 21-T4N-R32W, a surveyed tract in the NW1/4 of Section 22-T4N-R32W

Parcel 2: W1/2 Section 22, less surveyed tract in W1/2NW1/4; NE1/4NW1/4, NW1/4NE1/4 of Section 27-T4N-R32W

Acres:

555

Possession:

Full possession at Closing with buyout of tenant interest in growing wheat crop.

Taxes:

Seller to pay 2021 real estate taxes.

Acreages:

No warranty is expressed or implied as to exact acres included in the parcels. Legal description are subject to existing fence and field boundaries.

Seller:

Triangle Farms Ltd.

Minerals:

All owned oil, gas, and mineral rights pass to Buyer.

Parcel 1:

LEGAL DESCRIPTION: NE1/4 Section 21-T4N-R32W, a surveyed tract in the NW1/4 of Section 22-T4N-R32W

EST. ACRES & TAXES: Approximately 179 acres - Estimated Real Estate Taxes $5,232.40 (to be determined by survey) Occupation Taxes: $1,310.00

CURRENT CROP: 45.76 acres currently planted to wheat. Buyer shall reimburse the tenant for summer fallow expense, along with fertilizer & the cost to establish the growing wheat crop and will assume tenant's wheat Insurance Premium. Total costs are as follows: Summer fallow & wheat establishment $6,231.60 + 12.98/acre premium ($593.96) - Insurance Guarantee: 45 bu. APH at 70% = 31.5 bu/ac guarantee TOTAL GUARANTEE AMOUNT: $10,234.00

LAND USE: Pivot irrigated cropland, dry cropland & winter range

FSA INFORMATION: 168 Cropland Acres; 134.7 ac. corn base at 148 ac./bu. PLC yield; 21.9 ac. wheat base at 57 ac./bu. PLC yield; 10.02 ac. grain sorghum base at 56 ac./bu. PLC yield; .42 ac. oat base at 50 bu./ac. PLC yield.

WATER: 131 Certified Irrigated Acres in the Middle Republican Natural Resource District. 50.18 ac. remaining in allocation as of Jan. 2021. NE Well Reg # G-038204 & #G-038205

IRRIGATION EQUIPMENT: 7-tower Valley 8000 Pivot, Two 60HP GE Electric motors, Two Western Land Roller pumps, column, bowls

COMMENTS: Prime pivot irrigated farm with excellent Class II soils. Fenced along surveyed eastern boundary and located just 2-1/2 miles off Hwy. 6

Parcel 2:

LEGAL DESCRIPTION: W1/2 Section 22, less surveyed tract in W1/2NW1/4; NE1/4NW1/4, NW1/4NE1/4 of Section 27-T4N-R32W

EST. ACRES & TAXES: Approximately 376 acres - Estimated Real Estate Taxes $4,035.28 (to be determined by survey)

CURRENT CROP: 90.64 acres currently planted to wheat. Buyer shall reimburse the tenant for summer fallow expense, along with fertilizer & the cost to establish the growing wheat crop and will assume tenant's wheat Insurance Premium. Total costs are as follows: Summer fallow & wheat establishment $12,343.35 + 12.98/acre premium ($1,176.50) - Insurance Guarantee: 45 bu. APH at 70% = 31.5 bu/ac guarantee TOTAL GUARANTEE AMOUNT: $20,272.00

LAND USE: Dry cropland & rangeland

FSA INFORMATION: 106.33 Cropland Acres; 28.4 ac. corn base at 148 bu./ac. PLC yield; 51.1 ac. wheat base at 57 bu./ac. PLC yield; 23.38 ac. grain sorghum base at 56 bu./ac. PLC yield; .98 ac. oat base at 50 bu./ac. PLC yield.

WATER: Windmill & tank with new motor in 2020

COMMENTS: Nice combination of Class II dryland and hardland pasture. 100% possession of growing wheat crop available with buyout of current tenant interest.

Combination:

TOTAL ACRES: 555 tax assessed acres.

TAXES: 2021 Real Estate Taxes payable in 2022: $9,267.72

Very nice combination of Pivot irrigated, dry cropland and pasture.

Cropland nearly all Class II soils.