Kastens Farms, LLC Land Auction 8-26-2014

Tuesday, August 26, 2014 @ 10:30 a.m., MT at the Chappell Golf Course Clubhouse, Chappell, NE. The heirs of the Kasten and Minshall families are offering their combined 1,401.4 +/- acres of Nebraska land for sale at auction. Both families have owned all or portions of their property for over 80 years. In fact, the Kasten family has been the sole tenant of the Minshall property for 85 years. Kastens Farms, LLC owns 1,238.2 +/- acres (Parcels #1A - #5) of dryland, pasture, improvements, & CRP located 3 to 5 miles N & E of Lodgepole, NE in E Cheyenne & W Deuel Counties, NE. The Minshall family owns 163.3 +/- acres (Parcel #6) of dryland located 15 miles NW of Chappell, NE in SW Garden County, NE. Combined, the property being offered for sale is as follows: 825.6 +/- acres dryland, 517.9 +/- acres pasture, 41.4 +/- acres CRP, 14.4 +/- acre improvement site w/3 bedroom, 1 bath,home, 60’ x 40’ machine shed, & other outbuildings. 455.4 +/- acres of wheat stubble. 370.2 +/- acres of summerfallow available for the buyer to be plant the fall of 2014. Primarily Class II & III soils. 41.4 +/- acres CRP with contract expiring 9/30/14 @ $45.99/acre payment & the annual payment is $1,904. Seller to retain 2014 CRP payment. Possession of pasture subject to existing verbal lease. Possession of improvements 30 days after closing and 60 days for machine shed. Seller reserves 50% of owned minerals as a non-participating royalty interest for 20 years; Offered in 9 Parcels, 3 combos, Dryland Unit and Single Unit. The Multi Parcel Auction bidding format allows all bidders an equal opportunity to participate and purchase dryland, pasture, CRP, & improvement site with parcel sizes ranging from 14.4 +/- acres to 1,238.2 +/- acres. Excellent opportunity to add to or expand your operation. Portion of the combined properties being sold has been within the same family for over 80 years and once sold, may never again be publicly offered for sale for generations. SALE TERMS/PROCEDURE: The "Kastens Farms, LLC Land Auction" is a land auction with reserve. Property to be offered in 9 Parcels, 3 Combos, Dryland Unit & Single Unit. The parcels, combos,dryland unit, and single unit will be offered in the sale order as stated within the brochure. The parcels, combos, dryland unit, and single unit will compete to determine the highest aggregate bid(s). Seller agrees not to accept and negotiate any contracts to purchase prior to auction date. Bids will be taken for total purchase price not price per acre.