Tract 4

This Auction consists of Five Quarters and One Half Section of prime Dryland CRP located South East of Leoti, KS.  The Sellers of Martin Heritage Farms, LLC cannot remember the last time any of this land was farmed, dating back at least 50 years.  We encourage you to go view the fields!  See how the land gently rolls, view the thick lush CRP grass, and dig in the soil and see for yourself the quality of this land!  With the CRP contacts expiring in 2025 on five quarters, and in 2026 for the other two, they are primed and ready to be broken out and turned into Cropland.

PROCEDURE: This is an Online Only Auction for 1,110.04 more or less acres in Wichita County, KS.  The 1,110.04 more or less acres will be offered in six (6) individual tracts.  Online bidding will take place beginning at 10:00 am CDT Friday, June 5th, 2025, and will "soft close" at 10:00 am CDT Wednesday, June 10th, 2025.  At 9:55 am CDT on Wednesday, June 10th, 2025, bidding will continue in five minute increments until five minutes have passed with no new bids.  Rural Realty Agents will be at the Wichita County Community Building in Leoti, KS from 8:00 am until the conclusion of the online auction.  Please come during the scheduled time to discuss the property.  Rural Realty will be there to assist any buyers with the online bidder registration process.  Bidders do not have to be present to bid online, however, you are required to be available by phone.

BIDDER QUALIFICATION: YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, so be sure you have arranged financing, if needed, and are capable of paying cash at closing.  Potential bidders must be approved to bid online.  Go to www.auction.ruralrealtyco.com and CREATE AN ACCOUNT, if you do not currently have an account.  Then ENTER the AUCTION and REQUEST APPROVAL to bid.  You must be approved by Rural Realty, Inc. before you can bid.  You must agree to the auction terms and conditions during the registration process.

ACCEPTANCE OF BID PRICES: The successful bidder(s) will sign a purchase agreement within two (2) hours of the close of the auction.  All final bid prices are subject to the Seller's approval or rejection.

EARNEST PAYMENT: Ten percent (10%) earnest payment upon signing a purchase agreement.  The earnest payment may be paid in the form of personal check, business check, cashier's check, or wire transfer.  The remainder of the purchase price is payable in cash at closing.

REAL ESTATE TAXES AND ASSESSMENTS: 2024 and prior years taxes paid by Seller.  The 2025 taxes will be prorated to the closing date.  All future taxes will be the responsibility of the Buyer.

CRP CONTRACTS: The annual CRP payment for each tract will be prorated to the closing date.  The sellers have elected to enter the re-enroll process for the CRP contracts expiring in 2025.  Buyers will be able to accept or decline the renewal with the FSA office upon taking over the CRP contracts.  Buyers are responsible for taking over and carrying out the duties required by all CRP contracts associated with the Tract(s) they enter into a purchase agreement on.

CLOSING: Will take place on or before July 10th, 2025 or as soon as possible.

CLOSING EXPENSES: Seller shall be responsible for the costs of preparing the Deed.  Buyer shall be responsible for the filing fees for purposes of recording the Deed.  Closing agent fee shall be divided equally between the Seller and Buyer. Wichita County Title Company will be the closing agent.

POSSESSION: Full possession for all Tracts at closing.

CONVEYANCE INSTRUMENT: Seller shall execute a Warranty Deed (and Bill of Sale if personal property is included) transferring and conveying said property to Buyer(s), free and clear of all liens and encumbrances except easements or restrictions visible or of record.

TITLE: Seller shall provide an Owner's Policy of Title Insurance as evidence of marketable title.  The cost of the owner's title policy and escrow fee shall be divided equally between the Seller and Buyer. Buyer will be responsible for all expenses related to acquiring a mortgagee's title policy, if required.

PROPERTY CONDITION: Property to be sold AS IS-WHERE IS and no warranty or representation, either express or implied, will be given to any bidder or Buyer.  Buyer shall release Seller of any and all liability.

EASEMENTS AND LEASES: Sale of the property is subject to any and all easements of record and any and all leases.

SURVEY: No survey will be provided by the Seller.

MINERAL RIGHTS: All mineral rights owned by the Seller, if any, will convey to Buyer(s).

AGENCY: Rural Realty, Inc. and its representatives are exclusive agents of the Seller.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in the promotion and advertisement of the auction is believed to be accurate, but is subject to verification by all parties relying on it.  No liability for accuracy, errors, or omissions is assumed by the seller, the broker, the auction company, or any of their respective representatives.  All sketches and dimensions in this brochure are approximate.  All acreages are approximate and have been estimated based on legal descriptions or aerial photographs.  The property is being sold on an "AS IS, WHERE IS" basis, and no warranty or representation, either express or implied, concerning the property is made by the seller or the auction company.  Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property.  Bidders should complete this due diligence prior to bidding on this auction.  Increments of bidding are at the direction and discretion of the auction company.  The seller, broker, and auction company reserve the right to preclude any person from bidding, if there is any question as to the person's credentials, fitness, etc.  All decisions of the auction company are final.  Online bidding will be available on our website for this Auction.  If you need assistance in registering to bid on our website, please call our Supervising Broker Alec Horton at 620-214-2417.  In accepting the terms and conditions for the use of our website, you agree to not hold Rural Realty, Inc., our affiliates, or our representatives responsible or liable for the functionality of the bidding platform.  Problems in placing bids on the online bidding platform could be caused by internet connections, human error, wireless connections, etc.  If you have trouble placing your online bid, immediately call Alec Horton at 620-214-2417 for assistance in placing your bid.

SELLERS: Martin Heritage Farms, LLC