AUCTION IS OVER

• In the Heart of Feedlot & Dairy Country • Dairy Quality Alfalfa - 16 Fields • 240 Acres of Native Pastureland along US Hwy. 50/400 • 2 Acre Water Allotment Average • (3) Homes - 2 Mobile Homes • Shop Building, Machine Storage & Office Space • Along the Arkansas River, US 50/400 - BNSF Railroad • Great Hunting - Whitetail, Mule Deer & Pheasant

OPEN HOUSE/INSPECTION DATES

Wednesday, September 29th, 4PM - 6PM
Thursday, September 30th, 11AM - 1PM
Wednesday, October 13th, 4PM - 6PM
Thursday, October 14th, 11AM-1PM
Monday, October 25th, 3 PM - 5 PM
Additional information about the property will be available. Meet a Schrader Representative at the Gray County Senior Citizens Center at 221 S. Main St. (south HWY 23) in Cimarron one block north of the courthouse on the west side of Main Street.

PROPERTY LOCATION

20 Miles East of Garden City & 30 Miles West of Dodge City on HWY 50/400 Properties Near Pierceville, Charleston along HWY. 50/400. Watch for Signs.

AUCTION LOCATION

At the Gray County 4-H/Extension Building on the west edge of Cimarron on West US Highway 50/400.

PROPERTY DESCRIPTION

For over 100 years, the Renick Family has acquired land and developed an impressive farming operation. From the early years of land development and the onset of irrigation, the Renicks were at the forefront. Utilizing flood irrigation with water from the Arkansas River and later center pivot irrigation with water supplied from the Ogallala Aquifer.

It is now time for a new owner to enjoy the benefits of owning one of Gray Countys most impressive farming operations.

PLAN TO ATTEND THIS IMPORTANT AUCTION!

Tract 3: Machine Storage - Steel Frame 200ftx75ft - (2) Overhead Doors 30ftx14ft - Guttering - Gravel Floor

Tract 3: Shop - Morton Building 72ftx67ftx17ft - Bifold Door 40ftx17ft - Floor Drains - (2) Overhead Doors 14ftx16ft - Concrete Floor - Automotive Lift - (2) Offices Breakroom/Kitchen/Bathroom - Natural Gas Furnace & Central Air

Tract 3: Quonset Shop & Machine Storage - Steel Structure 145ftx51ftx20ft - Insulated - Concrete Floor - (2) Overhead Doors - (2) Overhead Natural Gas Furnaces

Tract 4: 2 acre home site improved with a ranch style home, brick and drivet exterior, newer roof with lifetime shingles, landscaping, 4,000+/- sq. ft. on main floor, kitchen with Jen-Air stove and ceramic tiled, built-in eating counter, living room, 2 fireplaces, full finished basement, 4 bedrooms, 2 full baths, 10 x 12ft walk-in closet, dining room with large built-in china cabinet, great room with surround windows and natural lighting, utility room, office with built-in desk & sewing center, ceramic tile, brick and redwood tongue & groove accents, cathedral ceiling, 2 natural gas furnaces, central air, lawn irrigation system, abundant closets and storage, two car attached garage, chain link fence and much more. Well stays with Tract 4.

Tract 17: Improved with 6 pens with 5ft good quality woven wire fencing, alley ways and (3) 30ftx50ft galvanized pole buildings with dirt floor, guttering, electric and with water hydrant - (2) 24ftx15ft galvanized sheds with concrete feed bunks

Tract 18: Ranch style home, 2,400+/- Sq. Ft. situated on approximately 6 acres having a dense cedar wind break - Drivet/Masonite exterior - lawn irrigation system - 2 Car attached garage with heat - Full basement unfinished with storm shelter - Utility room with counter and storage cabinet - Family room, fireplace, track lighting, ceiling fan - Kitchen with eat-in area - Living room/dining room with hardwood floor - Full bath with shower/tub - 2 Bedrooms with closets - Office - Master bedroom with full bath, carpet, ceiling fan, bath has bead board walls - Gas furnace and central air - Rear porch - shingle roof - Fenced area for horses or cattle - 20ftx60ft Steel sided storage building with heating & A/C, finished interior and incubator good for poultry and game bird operation.

Tract 19: 36ftx26ftx150ft steel frame and wood truss, with 8ft eves good for horses, adjacent to pasture with good woven wire perimeter fencing, Concrete feed bunks, Automatic Waterers.

Tract 24: 5+/- Acres with Frame-Stucco House - 1.5 Story - 2000+/- Sq. Ft. - (3) Bedrooms, kitchen, full bath, living room, dining room, chain link fence, lawn irrigation system, 4 bay open face building with heated 30ftx50ft shop, natural gas heat, central a/c, basement and sun room.

Tract 27: 4+/- acres improved with two mobile homes, wind break, above ground storm shelter and storage building. 1999 16x65 Bella Vista with 2 bedrooms, living room, kitchen, 2 baths, gas furnace, central air and carport. 1995 16x70 Skyline with 2 bedrooms, living room, kitchen, gas furnace, central air, 2 baths & fenced yard.

TRACT DESCRIPTIONS

Tract 1: 699± ac Fronting the Arkansas River and US Hwy. 50/400, corn, alfalfa, sorghum silage, Sprinkler System, 50% Mineral Rights

Tract 2: 803± ac Fronting the Arkansas River. Corn, alfalfa, milo, sorghum silage, irrigation system, 50% mineral rights

Tract 3: 13± ac Farm Headquarters, shop, machinery storage, 32’ x 39’ concrete loading dock with 2 levels, adjacent to BNSF main line and railway siding. 50% mineral rights.

Tract 4: 2± ac Spacious ranch style home, landscaping, 50% mineral rights.

Tract 5: 579± ac 3-Circle Alfalfa planting 1 - New 2010 2 - New 2007, Irrigation system, 50% mineral rights

Tract 6: 480± ac 2 Circle Alfalfa planting New in 2010 & 2007, Irrigation system, 100% mineral rights

Tract 7: 320± ac 1 Circle Alfalfa, Irrigation system, 100% mineral rights

Tract 8: 320± ac Alfalfa, Irrigation system, 100% mineral rights

Tract 9: 160± ac Alfalfa, Irrigation system, 100% mineral rights

Tract 10: 513± ac Borders Arkansas River to the North, Irrigation system, 100% mineral rights

Tract 11: 480± ac 3 Circles of Alfalfa planting 2 - New 2010 1 - New 2007, Irrigation system, 50% mineral rights

Tract 12: 153± ac New Alfalfa 2010, Irrigation system, 50% mineral rights

Tract 13: 295± ac 2010 Crop: Corn, Wheat, Irrigation system, 50% mineral rights

Tract 14: 130± ac New Alfalfa 2010, Irrigation system, 50% mineral rights

Tract 15: 325± ac Frontage on 6 Rd., 2010 Crop: Corn, Wheat, Irrigation system, 50% mineral rights

Tract 16: 300± ac 2010 Crop: Corn, Energy saving variable flex drive Irrigation system, 50% mineral rights

Tract 17: 24± ac A great pasture for cattle or horses, 50% mineral rights

Tract 18: 6± ac Ranch style home and building. Add Tract 17 or 19 for perfect setting. 50% mineral rights

Tract 19: 40± ac A great tract by itself or combined with Tract 18. 50% mineral rights

Tract 20: 95± ac Quality grass with home site potential, bunker silo and 30� x 30� shed with overhead door. 50% mineral rights

Tract 21: 151± ac Quality grass with home site potential

Tract 22: 215± ac Bordering the Arkansas River, Irrigation system, 50% mineral rights

Tract 23: 12± ac Dryland, 50% mineral rights

Tract 24: 5± ac 1.5 story home with 4-bay storage building. 50% mineral rights.

Tract 25: 320± ac Enrolled in EQIP w/annual payment of $36,900. Whitetail Deer, Mule Deer and Pheasant hunting. No mineral rights.

Tract 26: 240± ac Enrolled in EQIP w/annual payment of $27,825 Whitetail Deer, Mule Deer and Pheasant hunting. Irrigation system, No mineral rights.

Tract 27: 4± ac 2 mobile homes at the corner of 6 Rd. and L Rd. 50% mineral rights.

AREA MAP

TRACT MAP(S)

PLAT MAP(S)

AREA MAP(S)

PROCEDURE: Tracts 1 through 27 will be offered in individual tracts, in any combination of these 27 tracts, or as total unit. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations, and the total property may compete. The property will be sold in the manner resulting in the highest total sale price.

DOWN PAYMENT: 10% of the accepted bid price as down payment on the day of auction with the balance in cash at closing. If the bidder pre-registers with the Auction Company on or before Tuesday, October 19, then cash or a personal check will be accepted for the down payment (contact Auction Company for a pre-registration form or visit www.schraderauction.com.) If the bidder does not pre-register, a bank letter of credit or guarantee will be required with a personal check, OR bidder must present a $5000 cashierÃƒÆ’Ã†â€™Ãƒâ€ Ã¢â‚¬â„¢ÃƒÆ’Ã¢â‚¬Å¡Ãƒâ€šÃ‚Â¢ÃƒÆ’Ã†â€™Ãƒâ€šÃ‚Â¢ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚Â¬Ãƒâ€¦Ã‚Â¡ÃƒÆ’Ã¢â‚¬Å¡Ãƒâ€šÃ‚Â¬ÃƒÆ’Ã†â€™Ãƒâ€šÃ‚Â¢ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚Â¬Ãƒâ€¦Ã‚Â¾ÃƒÆ’Ã¢â‚¬Å¡Ãƒâ€šÃ‚Â¢s check with a personal check for the balance of the down payment on auction day. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.

APPROVAL OF BID PRICES: All successful bidders will be required to enter into purchase agreements at the auction site immediately following the close of the auction. The auction bids are subject to the acceptance or rejection by the Sellers.

DEED: Seller will provide Warranty and/or Trustee Deed(s).

EVIDENCE OF TITLE: The Seller agrees to furnish an OwnerÃƒÆ’Ã†â€™Ãƒâ€ Ã¢â‚¬â„¢ÃƒÆ’Ã¢â‚¬Å¡Ãƒâ€šÃ‚Â¢ÃƒÆ’Ã†â€™Ãƒâ€šÃ‚Â¢ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚Â¬Ãƒâ€¦Ã‚Â¡ÃƒÆ’Ã¢â‚¬Å¡Ãƒâ€šÃ‚Â¬ÃƒÆ’Ã†â€™Ãƒâ€šÃ‚Â¢ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚Â¬Ãƒâ€¦Ã‚Â¾ÃƒÆ’Ã¢â‚¬Å¡Ãƒâ€šÃ‚Â¢s Policy of Title Insurance in the amount of the purchase price by High Plans Land & Title. Cost of said title insurance shall be shared by the Buyer and Seller (50:50).

CLOSING: The closing shall take place by November 26, 2010, or as soon thereafter as applicable closing documents are completed by Seller. Seller and Buyer shall share 50:50 the cost of closing.

POSSESSION: Possession at closing on all tracts except Tracts 3, 4, 18 & 24 which shall be granted on or before January 17, 2011.

REAL ESTATE TAXES: The Seller shall be responsible for the taxes due for the calendar year 2010 and the Buyer shall be responsible for the taxes due for 2011 calendar year and thereafter.

SURVEY: Seller shall provide a survey for any tract where there is no existing legal description or where new boundaries are created by the tract divisions in this auction. Any need for a new survey shall be determined solely by the Seller. Seller & Buyer shall each pay half (50:50) of the cost of the survey. The type of survey performed shall be at the Sellers option and sufficient for providing title insurance. Closing prices shall be adjusted to reflect any difference between advertised and surveyed acres on tracts without improvements other than center pivot equipment (i.e. home, barn, bins).

Environmental Quality Incentive Program USDA EQIP: Tracts 25 & 26 are enrolled in the EQIP Program, seller shall convey and buyer shall assume the EQIP contract. The payment combined for both Tracts 25 & 26 is estimated at $64,725 annually with two payments remaining. The contract extends through 9-30-2013.

2010 HAY CROP: Seller reserves ownership and the right to store the 2010 hay crop in its current location and shall remove on or before May 31, 2011.

MINERALS: Sellers shall include with the sale of the real estate all mineral rights they own.

ACREAGE AND TRACTS: All acreages are approximate and have been estimated based on current legal description and/or aerial photos. Any corrections, additions, or deletions will be made known prior to the auction.

AGENCY: Schrader Real Estate & Auction Company, Inc., and their representatives are exclusive agents of the Seller.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the purchase agreement. The property is being sold on an Ã¢â‚¬Å“AS IS, WHERE ISÃ¢â‚¬Å“ basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the persons credentials, fitness, etc. All decisions of the Auctioneer are final.

ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.

NEW DATA, CORRECTIONS AND CHANGES: Please arrive prior to scheduled auction time to inspect any changes, corrections or additions to the property information.

STOCK PHOTOGRAPHY: Some photos are for illustrative purposes only and are not of the auction property.