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Legal Description: Section 65, Block M-6, Swisher County, Texas
Location: From Lakeview, Texas, 3 miles North on FM 1424, then 2 miles West on CR M to SE corner of property. (Property lies 1 mile North and 1 mile West)
Description:
This is a nice section of grass in the west/central part of Swisher County. Good access is provided by CR M for 1 mile on the South boundary. There are 552.4 acres enrolled in the CRP program through 9/30/2010. The 2010 payment will be prorated through closing and funding date. There are a total of 7 wells including 1 windmill, 1 domestic well, and 6 irrigation wells. The irrigation wells consist of 4 turbine pumps and 2 electric submergible pumps. The pumps range in size from 3-6”.
There is approximately 1 ½ miles of underground tile. This is a nice section with good grass and a considerable amount of depreciation possibilities related to the wells and other improvements.
USDA-CRP Information:
Rental Rate Per Acre: $40.84
Annual Contract Payment: $22,560.00
Contract Period: 10/01/1997 through 09/30/2010
Our best calculations show there will be an annual direct payment of approximately $8,672.00 after CRP expires. Projected Bases and Yields are as follows: Wheat Base 193, Yield 33; Corn Base 1.0, Yield 77; Grain Sorghum Base 137, Yield 96; Upland Cotton Base 142.7, Yield 260
There are 644.96 acres of Farmland. There are 553.13 acres of Cropland.
The remaining 92 +/- acres are in native grass or non cropland.
Price: $650.00 per acre
Minerals and Wind: Seller will reserve ½ of the minerals currently owned and ½ of the wind rights.
Taxes: $1,550.00 (2009)
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