MARGARET M. EHMKE ESTATE

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February 13, 2014-10:30 am, MT 1,011 +/- Acres

Dryland - CRP BUYERS INFORMATIONAL MEETING

FURTHER INFORMATION CONTACT: Marc Reck, Broker or

1 MARGARET M. EHMKE ESTATE ABSOLUTE LAND AUCTION Thursday, February 13, :30 am, MT 1,011 +/- Acres North Central Cheyenne County, NE Pivot Irrigated - Dryland - CRP BUYERS INFORMATIONAL MEETING Wednesday, January 29, :30 am, MT Watch LIVE Auction on Online Internet Bidding Video Simulcast FOR FURTHER INFORMATION CONTACT: Marc Reck, Broker or Troy Vogel, Salesperson 535 E. Chestnut PO Box 407 Sterling, CO (970) or marcreck@reckagri.com

PROPERTY DESCRIPTIONS in sale order PARCEL #1 - PIVOT IRRIGATED 160.1 +/- Total Acres; 134.3 +/- acres pivot irrigated, 25.

2 PROPERTY DESCRIPTIONS in sale order PARCEL #1 - PIVOT IRRIGATED /- Total Acres; /- acres pivot irrigated, /- ac dryland; Legal: NE1/4 of 21, T15N, R51W, Cheyenne County, NE; Location: From W side of Sidney, NE, 11 mi NW on Hwy #30 to RD 91, 4 mi N on RD 91 to RD 38, ½ mi E on trail road to NW corner of the property; Terrain is slightly rolling terrain; Soils primarily consist of Class II w/areas of Class III, IV, & V; Irrigation Well Permit #G-65748, 136 NRD certified acre with remaining allocation of inches; Irrigation equipment includes 100 US electric motor, Peerless pump & 8 tower Valley pivot; Call for detail brochure with complete description of equipment, well logs, and irrigation well efficiency test; FSA base: 68.7 ac corn w/110 bu yield, 64.3 ac wheat w/40 bu yield; /- ac dryland corners planted to wheat, /- ac under pivot irrigation planted to wheat, /- ac stubble under pivot irrigation; R/E taxes: $4, PARCEL #2 DRYLAND /- Total Acres; /- ac dryland; Legal: NW1/4 of 22, T15N, R51W, Cheyenne County, NE; Location: From W side of Sidney, NE, 11 mi NW on Hwy #30 to RD 91, 3 mi N on RD 91 to RD 36, 2 mi E on RD 36 to RD 95, 1 mi N on RD 95, ½ mi W on trail road to NE corner of the property; Soils primarily consist of Class II w/smaller areas of III & IV; 118 +/- acres in stubble, /- acres planted wheat; FSA base: 78.3 ac wheat w/40 bu yield; R/E Taxes: $1, PARCEL #3 - PIVOT IRRIGATED /- Total Acres; /- acres pivot irrigatable, /- ac dryland, 6.1 +/- ac waste/roads; Legal: NW1/4 of 18, T15N, R50W less a tract, Cheyenne County, NE; Location: From W side of Sidney, NE, 7.5 mi NW on Hwy #30 to RD 17A (Brownson), 1.8 mi N on RD 17A turns into RD 99, 4.5 mi N on RD 99 to NW corner of property; Terrain is level to slightly rolling terrain; Soils primarily consist of Class I w/areas of Class II & III; Irrigation Well Permit #G , 122 NRD certified acre with remaining allocation of inches; Irrigation equipment includes 75 US electric motor, pump & 8 tower Valley pivot; Call for detail brochure with complete description of equipment, well logs, and irrigation well efficiency test. Pivot currently irrigates approximately /- ac of adjoining landowners property, Buyer(s) will need to make arrangements to irrigate said acreage or windshield wipe pivot or move pivot to prevent from irrigating adjoining property; FSA base: 58.9 ac corn w/110 bu yield, 15 ac wheat w/35 bu yield; /- ac dryland corner planted to wheat, /- ac corn stalks; R/E taxes: $3, PARCEL #4 - DRYLAND & CRP /- Total Acres; /- ac dryland, /- ac CRP; Legal: SE1/4 of 18, T15N, R50W, Cheyenne County, NE; Location: From W side of Sidney, NE, 7.5 mi NW on Hwy #30 to RD 17A (Brownson), 1.8 mi N on RD 17A turns into RD 99, 4.5 mi N on RD 99 to RD 40, 1 mi E on RD 40,.5 mi S on trail road to NE corner of property; Dryland soils primarily consist of Class II & III; CRP contract #1083 w/annual payment of $34.62/ac; /- acres planted to wheat, /- acres in stubble; FSA base: 79.6 ac wheat w/35 bu yield; R/E Taxes: $1, PARCEL #5 - DRYLAND 162 +/- Total Acres; /- ac dryland, 6.4 +/- ac waste/rds; Legal: SW1/4 of 5, T15N, R50W, Cheyenne County, NE; Location: From E side of Sidney, NE, 10 mi N on Hwy #385 to RD 42, 5.5 mi W on RD 42 to SE corner of the property; Soils primarily consist of Class II w/smaller areas of V; /- acres in stubble, /- acres planted to wheat; FSA base: 76.7 ac wheat w/35 bu yield; R/E Taxes: $ PARCEL #6 DRYLAND 221 +/- Total Acres; /- ac dryland, /- ac waste/rds; Legal: All of 23 lying east of RD 109, T15N, R50W, Cheyenne County, NE; Location: From E side of Sidney, NE, 10 mi N on Hwy #385 to RD 42, 2.3 mi W on RD 42, 2 mi S on RD 109 to NW corner of the property; Soils primarily consist of Class II /- acres in stubble, /- acres planted to wheat; FSA base: 81 ac wheat w/40 bu yield; R/E Taxes: $1,

3 LOCATION MAP & PROPERTY PHOTOS

4 AERIAL MAPS & PROPERTY PHOTOS COPYRIGHT NOTICE: Photographs, video tapes, and Color & Detail Brochures are property of Reck Agri Realty & Auction and cannot be reproduced without permission. Auction photographs may be used by Reck Agri Realty & Auction in publications, marketing materials, and on the Internet web page.

TERMS & CONDITIONS Announcements made by Reck Agri Realty & Auction (hereinafter referred to as Broker) at the time of sale will take precedence over any previously printed material or other oral

5 TERMS & CONDITIONS Announcements made by Reck Agri Realty & Auction (hereinafter referred to as Broker) at the time of sale will take precedence over any previously printed material or other oral statements. AUCTION DATE, TIME & LOCATION: Thursday, February 13, 10:30 a.m., MT at the Holiday Inn, Sidney, NE. OVERVIEW: The Margaret M. Ehmke Estate is offering 1,011 acres of Nebraska land for sale at auction. Located in north central Cheyenne County, Nebraska, the Ehmke property includes /- acres of pivot irrigated, /- acres of dryland, /- acres of CRP Land for Sale. Possession is subject to existing farm leases. Buyer to receive landlord share of growing crops. Buyer to receive 100% of the 2014 CRP payment, CRP contract expires in 2021, and annual payment is $34.62/ac. The Multi Parcel Auction bidding format allows all bidders an equal opportunity to participate and purchase land to add to or expand your operation and/or investment portfolio. Some of the property being sold has been within the Ehmke family for many years and once sold, may never again be publicly offered for sale. Proceeds from the sale of the Margaret M. Ehmke Estate land to be distributed to 24 local & national charities. SALE TERMS/PROCEDURE: The "Margaret M. Ehmke Estate Absolute Land Auction" is a land auction with NO RESERVE. The Ehmke property to be offered as a "MULTI PARCEL" Auction in 6 parcels. The parcels will be offered in the sale order as stated within the brochure. Competitive bids will determine outcome of auction and the Seller to enter into a contract to purchase with the highest bidder(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. SIGNING OF PURCHASE AGREEMENT: Immediately following the conclusion of the auction, the highest bidder(s) will enter into and sign a Farm, Ranch, and Land Purchase Agreement for the amount of the bid. Required earnest money deposit to be in the form of a personal, business, or corporate check for 15% of the purchase price. Said earnest money is due upon the signing of the Farm, Ranch, and Land Purchase Agreement and to be deposited with Reck Agri Realty & Auction. Farm, Ranch, and Land Purchase Agreement will not be contingent upon financing. Terms and conditions of the detail brochure and oral announcements shall be incorporated and made a part of the Farm, Ranch, and Land Purchase Agreement. Sample Farm, Ranch, and Land Purchase Agreement is available within the detail brochure. CLOSING: Buyer(s) shall pay in cash, electronic transfer funds, or cashier's check (Good Funds), the balance of purchase price (purchase price less earnest money deposit), plus their respective closing costs, and sign and complete all customary or required documents at closing, which is on or before March 14, Closing to be conducted by Cheyenne County Title & Escrow and the closing service fee to be split between Seller and Buyer(s). TITLE: Seller to pass title by Personal Representatives Deed free and clear of all liens. Title Insurance to be used as evidence of marketable title and cost of the premium to be split between Seller and Buyer(s). Property to be sold subject to existing roads and highways; established easements and rights-of-way; prior mineral reservations, conveyances of record as shown within these Terms and Conditions; oil and gas leases of record; patent reservations; other matters affected by title documents shown within the title commitment; and zoning, building, subdivision, and other restrictions and regulations of record. Title commitments are available for review within the detail brochure and at the auction and title commitment and exceptions will be incorporated and made a part of the Farm, Ranch, & Land Purchase Agreement. POSSESSION: Subject to existing farm leases. PROPERTY CONDITION: The prospective Buyer(s) should verify all information contained herein. All prospective bidders are urged to fully inspect the property, its condition, and to rely on their own conclusions and the property is being sold AS IS-WHERE IS, without warranty, representation or recourse to Seller. WATER RIGHTS & EQUIPMENT: Seller to convey all Seller's water rights, water wells, well permits, and equipment appurtenant to the property whether for irrigation, domestic or livestock use. Each of the wells are subject to the rules, regulations, and limitations of the Nebraska Department of Natural Resources and the South Platte Natural Resource District. Water rights are being sold AS-IS-WHERE-IS without warranty or guarantee of any water right matters, pumping rates/adequacy of livestock/domestic/irrigation condition of all irrigation equipment. Seller to convey all right and interest to Well Permit #G-65748, #G , 2 pivots, 2 electric motors and pumps. GROWING CROPS: Seller to convey Landlord s share of growing crops and Farm Service Agency payments associated with said growing crops. Landlord share of growing crops is not insured. REAL ESTATE TAXES: 2014 Real Estate Taxes due in 2015 to be paid by Buyer(s). CRP CONTRACTS: Seller to convey all right, title, and interest to the existing CRP contract, to the Buyer(s) as successor in interest. Seller to convey the October 2014 CRP payment to Buyer(s). Buyer(s)assumes responsibility of the maintenance of the CRP acres, the obligations of the CRP contract, and agree to enter into new CRP contract within 60 days after the closing. Buyer(s) assumes responsibility of the costs and penalties if Buyer(s) choose to terminate the existing contract. FSA DETERMINATION: FSA base acres and yields to pass with the Parcels as designated within the detail brochure. Buyer(s) and Seller, at closing, to sign a memorandum of understanding stating the base acres and yields as designated within the detail brochure. LEGAL DESCRIPTION: Legal descriptions are subject to existing fence/field boundaries or land-use trades, if any. MINERALS: Seller to convey all OWNED mineral rights to Buyer(s). NOXIOUS WEEDS: There may be areas infested by noxious weeds, (i.e. rye, bindweed, canadian thistle, rye, goat/johnson grass, etc). The location of and the density of noxious weeds is unknown at this time. ACREAGES: All stated acreages in the initial brochure, detailed brochure, and visual presentation at the auction are approximate and are obtained from aerial photos from the FSA office. The county tax records may indicate different acreages and no warranty is expressed or implied as to exact acreages of property. All bids are for the total parcel without regard to exact acreage. There will be no adjustment in purchase price if acreage is different than what is stated in this brochure and/or stated at the auction. MULTIPLE PARTY BID: If several parties go together and collectively bid on parcels and the Multiple Party Bid is the highest bid, at the conclusion of the auction each party within the Multiple Party Bid shall identify and agree to sign separate contract(s), pay for their respective separate parcel(s) at closing, and pay for a metes & bounds survey and additional title insurance premium to create the legal description for their respective separate parcel. The collective purchase prices for the separate parcels shall equal the total Multiple Party Bid. BIDDER REQUIREMENTS: Prior to auction, Buyer(s) to review the terms and conditions as set forth in the Detail Brochure. Detail Brochure may be obtained at the Buyers Information Meeting or by calling Reck Agri Realty & Auction. Bidding via cell phone, internet, and/or bidding on someone s behalf, must be approved by Reck Agri Realty & Auction 24 hours prior to auction. ANNOUNCEMENTS: The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. Reck Agri Realty & Auction and the Seller assumes no responsibility for the omissions, corrections, or withdrawals. The location maps are not intended as a survey and are for general location purposes only. The prospective Buyer(s) should verify all information contained herein. All prospective bidders are urged to fully inspect the property, its condition and to rely on their own conclusions. All equipment and improvements are to be sold AS IS-WHERE IS, without warranty, representation or recourse to Seller. Reck Agri Realty & Auction and all other agents of Broker are or will be acting as a Limited Seller s Agent. Agency disclosure to be signed by Buyer(s) is within the Detail Brochure. Announcements made by Reck Agri Realty & Auction, at the time of sale will take precedence over any previously printed material or other oral statements. Reck Agri Realty & Auction does not offer broker participation for the "Margaret M. Ehmke Estate Absolute Land Auction". Reck Agri Realty & Auction reserves the right to require bank references upon request and reserves the right to refuse bids from any bidder. Bidder increments are at the discretion of the Broker. A DETAIL BROCHURE is available upon request and is REQUIRED to bid at the auction, via cell phone, or online bidding. It includes the terms and conditions of the auction, pertinent facts, title commitment, Auction Land Contract, etc. For additional color photos visit the Margaret M. Ehmke Estate Absolute Land Auction Visual Tour on our website:

Reck Agri Realty & Auction PO Box 407 Sterling, CO 80751 Address Service Requested February 2014 Calendar Sunday Monday Tuesday Wednesday Thursday Friday Saturday 1 2 3 4 5 6 7 8 Auction Day.

28 Watch LIVE Auction on www.reckagri.com!! Online Internet Bidding Video Simulcast Like Us on Facebook & Follow Us on Twitter www.reckagri.com MARGARET M.

6 Reck Agri Realty & Auction PO Box 407 Sterling, CO Address Service Requested February 2014 Calendar Sunday Monday Tuesday Wednesday Thursday Friday Saturday Auction Day Auction Day... For More Information Visit... Scan this QR code with your Smartphone to visit our website for more info on this auction! 28 Watch LIVE Auction on Online Internet Bidding Video Simulcast Like Us on Facebook & Follow Us on Twitter MARGARET M. EHMKE ESTATE ABSOLUTE LAND AUCTION Thursday, February 13, :30 am, MT 1,011 +/- Acres North Central Cheyenne County, NE Pivot Irrigated - Dryland - CRP BUYERS INFORMATIONAL MEETING Wednesday, January 29, :30 am, MT

J.D. MEYER TRUST DRYLAND &

J.D. MEYER TRUST DRYLAND & PIVOT IRRIGATED LAND AUCTION Tuesday, October 7, 2014-1:30 pm, MT WITH RESERVE 927 +/- Acres PIVOT IRRIGATED - DRYLAND NORTHEAST CHEYENNE COUNTY, NE 5 PARCELS - DRYLAND UNIT