FARMLAND CRP AND HUNTING RECREATION

PUBLIC LAND AUCTION

SATURDAY, DECEMBER 12, 2009 – 10:30 A.M.

Auction Site: Decatur Fire Hall, Broadway, Decatur, NE.

Property Location: In Decatur, NE. From Highway 75 or 4^th Avenue turn on west 7^th Street and drive west one half mile to the top of the hill. The entrance (easement) to the property begins at this point.

Legal Description: 153 acres – S1/2 of NW1/4 and N1/2 of SW1/4 of Section 35 – 24N – 10E Burt Co., NE. Except 3.56 acres located in the SE corner. There is excellent access into the property by a legally recorded easement that runs parallel with W 7^Th Street, Decatur, NE. Abstract legal to govern.

General Description:  Excellent upland property with CRP income, cropland, and some tree cover. Ideal Switchgrass cover for Wild Birds. Fabulous views of the Missouri River Valley and the Hills. Perfectly located near Omaha, Nebraska and Sioux City, Iowa.

FSA Information: Farmland –  157 acres, Cropland - 145.6 acres, Effective DCP Cropland - 34.5 acres, Corn Base – 34.5 acres, CC Yield – 84 Bu., Direct Yield – 84 Bu., CCC – 505 CRP Reduction – Oats: 19 & Corn: 18.5

 CRP Contracts: 95.7 acres till 9-30-2011 for $7,178.00 & 15.4 acres till 9-30-2010 for $1,201.00

 Gross Taxes: $2,524.00 on 152.33 taxable acres.

TERMS

PROCEDURE: The properties will be offered in one individual tract. The sale price will be determined by taking 153 acres times the final price bid per acre.

DOWN PAYMENT: 10% down payment on the day of the auction with the balance in cash at closing. 
CLOSING: Closing shall occur within approximately 30 days after auction day and in accordance with the specific terms of the Agreement to Purchase. Possession shall be given at closing, subject to the remaining rights of the current tenant(s) for crop year 2009. Full farming rights will be given March, 1, 2010. The closing will be handled by John Feller Attorney, 210 Main, Beemer, NE. 68716 and Ph: 402-528-3266

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SELLERS: Jean Morgan and Others