AUCTION IS OVER

• ATTENTION FARMERS, INVESTORS, CATTLEMEN • 5400 Acres Dry Land • 1500 Acres Irrigated Land • 1300 Acres CRP Land • 500 Acres Grass Land • Wind Rights • Close Proximity to Hwy 385/287 & Hwy 160 • 50 Miles to Lamar • 200 Miles to Colorado Springs • Tracts from 40 Acres to 960 Acres

OPEN HOUSE/INSPECTION DATES

Monday, March 8, 4:00 PM - 6:00 PM Tuesday, March 9, 10:00 AM - 12:00 Noon Thursday, March 18, 10:00 AM - 12:00 Noon Tuesday, March 30, 3:00 PM - 5:00 PM Additional information about the property will be available. Meet a Schrader Representative at the Baca County Fairgrounds, Blue Building, at 28500 Co. Rd. 24.6, Springfield, CO

Be sure and come to an inspection date to view for yourself the opportunity that this property provides!

AUCTION LOCATION

Auction Held at the Baca County Resource Center DIRECTIONS: From US 287 turn west on 9th Street to the fairgrounds.

PROPERTY DESCRIPTION

You may bid online during this auction at www.schraderauction.com. You must register by March 23 to bid online. For information on registering for online bidding, call Schrader Auction Company at 800-451-2709
INFORMATION PACKETContact Auction Company for a detailed information packet including information on wells and pivots, FSA information, tax summaries, soil summaries, preliminary title policies and flowmeter test reports from the Baca County Conservation District.

These properties provide a wonderful opportunity for the farmer, investor and cattleman. The mix of dry land, irrigated land, CRP land and grass land offer something for most everyone. In the SCHRADER METHOD OF AUCTION, you may put the tracts together in the manner that fits your needs and desires.
CENTER PIVOTS
Tract 1: 3 Pivots 1997 Reinke E65 9 tower with 15,400 hrs (SE pivot) 1980 Reinke Aluminagator 10 tower (SW pivot) 2008 Valley 8000 7 tower with 3,303 hrs (NW pivot)
Tract 3: 2 Pivots 1993 Reinke E65 8 tower with 41,730 hrs (N pivot) 1995 Reinke 660 8 tower with 8,834 hrs (S pivot)
Tract 15: 2 Pivots 2004 Reinke 2065 7 tower with 5,084 hrs (W pivot) 2004 Reinke 2065 7 tower with 7,006 hrs (E pivot)
Tract 17: 2 Pivots 2008 Reinke 2065 8 tower with 2,928 hrs (W pivot) 2008 Reinke 2065 8 tower with 4,122 hrs (E pivot)
Tract 19: 2 Pivots 1996 Zimmatic Gen2 7 tower with 18,847 hrs (W pivot) 2002 Valley 8000 7 tower with 14,795 hrs (E pivot)
Tract 20: 1 Pivot 1994 Zimmatic Gen2 7 tower with 18,031 hrs
Note: The stated hours are readings from the hour meters February 2010. Accuracy is not guaranteed.
Growing Wheat estimates
Tract 3: 123.9+/- Acres irrigated wheat
Tract 3: 63.6+/- Acres dryland wheat
Tract 4: 160.3+/- Acres dryland wheat
Tract 5: 316+/- Acres dryland wheat
Tract 6: 300+/- Acres dryland wheat
Tract 7: 52.8+/- Acres dryland wheat
Tract 9: 311.7+/- Acres dryland wheat
Tract 10: 290+/- Acres dryland wheat
Tract 11: 290+/- Acres dryland wheat
Tract 22: 176+/- Acres dryland wheat
Irrigated, CRP, Dry Land and Grass Land Acres are based on FSA Data.
Total Tract Acres are based on tax records.

TRACT DESCRIPTIONS

Tract 1: 841± ac Section 15+16-32-46

Tract 2: 314± ac Section 8-32-46

Tract 3: 949± ac Section 36-31-47 and 31-31-47

Tract 4: 160± ac Section 1-32-47

Tract 5: 326± ac Section 35-31-47

Tract 6: 337± ac Section 35-31-47

Tract 7: 160± ac Section 2-32-47

Tract 8: 80± ac

Tract 9: 320± ac

Tract 10: 320± ac

Tract 11: 320± ac

Tract 12: 265± ac

Tract 13: 320± ac

Tract 14: 320± ac

Tract 15: 321± ac

Tract 16: 320± ac

Tract 17: 520± ac

Tract 18: 40± ac

Tract 19: 320± ac

Tract 20: 160± ac

Tract 21: 80± ac

Tract 22: 321± ac

Tract 23: 320± ac

Tract 24: 960± ac

Tract 25: 170± ac

Tract 26: 160± ac

TRACT MAP(S)

AREA MAP(S)

PROCEDURE: Tracts 1 through 26 will be offered in individual tracts, in any combination of these 26 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 (20% earnest money deposit for immediate possession for farming purposes). If the bidder pre-registers with the Auction Company on or before Wednesday, March 24, 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 s $5000 cashier'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 shall provide Warranty Deed(s).

EVIDENCE OF TITLE: The Seller agrees to furnish an Owner's Policy of Title Insurance in the amount of the purchase price. Cost of said title insurance shall be shared by the Seller and Buyer (50:50).

CLOSING: The closing shall take place by April 30, 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 or immediate possession for farming purposes with 20% earnest money deposit.

REAL ESTATE TAXES: The Seller shall be responsible for taxes due for the calendar year 2009 and the Buyer shall be responsible for the taxes due for the 2010 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 Seller's 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 or barn).

MINERALS: 100% of the mineral rights owned by Sellers shall be included with the sale of the real estate.

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

AGENCY: Schrader Real Estate & Auction Company, Inc. and its 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 "AS IS, WHERE IS" 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.

SELLER: Colorado Farms.

None at this time