Hale County Land Absolute Auction
100 Acres Dry Land Farm
Tuesday, April 7, 2009                   Sale Time: 10:00 a.m.
Sale Site Location: Inside the West entrance of the Hale County Courthouse

The following property will be sold at public auction pursuant to an Order from the 242nd Judicial District Court. No. B36237-0809

Legal Description: One Hundred (100) acres out of Section No. 31, Block JK-2, Hale County, Texas, containing 100 acres more or less. Metes and Bounds description available for review.

Location of Land: From 3rd Street and Quincy, Plainview TX, 1.7 miles South on CR V to NW corner of property. (North of M & M Mobile Home Park) (SE corner of property fronts Business I-27)

Description: This property has been farmed in dry land cotton. Other typical crops would include wheat, grain sorghum, or crops used for grazing livestock. There is one older well on the property that has not operated in several years. The well includes an old pump that will convey with the property. The condition of the pump is unknown. There is also some underground tile on the property that has not been used in approximately 7-10 years. The condition of the tile is unknown.

USDA-FSA-Direct Payment: $2194.00* 92.9 Acre Cotton Base*Yield 425#

Taxes: All 2008 ($225.92) and prior taxes have been paid. Buyer will pay all 2009 taxes.

Minerals: All mineral interests currently owned will convey with property. Previous reservations are included in title work and available for review before sale day.

Title Insurance: Seller will provide an owner’s policy of title insurance covering the purchaser’s interest in the subject property upon sale by the receiver.

Closing: Good funds must be paid day of auction. Buyer must bring a cashier’s check to the courthouse for the full purchase price no later than 1:30pm on sale day (Tuesday, April 7, 2009, 1:30p.m.) If Buyer cannot provide the full amount due in a cashier’s check by 1:30pm, the property will be resold at auction at that time.

Farm Lease: This Sale is subject to an existing Farm Lease Contract with tenant for the 2009 crop year. A copy of this lease will be available before the sale. Call for a copy.