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Colorado - wray & laird The Republican River Ranches are in two units encompassing 5,651 total acres. The Laird Unit is located just east of Wray, Colorado with tracts ranging in size from 2 acres to 833 acres. The Wray Unit borders the city limits of Wray ranging in size from 7 to 312 acres. Each individual tract has its own unique characteristics including rolling hills, open prairie or slightly wooded vistas, and can be purchased separately or together with other tracts. Location: The ranches are located in eastern Colorado in the rural farming and ranching community of Wray and are situated in a scenic valley along the banks of the Republican River. Wray is located in the far eastern portion of Colorado at the point where Colorado, Kansas and Nebraska meet. Wray, with a population of approximately 3,600, is 143 miles east of Greeley via State Highway 34, 150 miles northeast of Denver and is 56 miles north of Burlington, Colorado. www.westchester-auctions.com POWERED BY www.rmabrokers.com

auction location: Elks Lodge BPOE No 2409 36355 US Highway 385 Wray, CO 80758 (970) 332-4907 information Dates: Wednesday, August 19 1:00pm - 3:00pm Wednesday, September 2 1:00pm - 3:00pm Meet a Westchester representative at the Elks Lodge on US Hwy. 385 in Wray. Recognized as the Recreational Hub of the High Plains, the town of Wray, with a population of 2,200, has a lot to offer individuals searching for a slowerpaced, community-centered lifestyle who enjoy having the convenience of Denver luxuries and amenities close by. The perfect place to raise a family or retire, Wray is a charming, safe and clean historic community with an agricultural-based economy and hosts an annual county fair and rodeos, chili and BBQ cook-offs, and holiday festivals. There is a municipal airport, senior citizen center, hospital with rehabilitation and trauma center, library, museum, community college, schools, recreation & aquatic center, 9-hole golf course and country club along with many surrounding lakes and parks offering year-round recreation activities for just about everyone. AUCTION TERMS AND CONDITIONS PROCEDURE: The property will be offered in 39 individual tracts, any combination of tracts 1-38, or as a whole property (Tracts 1-38). Tract 39 must be purchased alone and cannot be combined with any other tract. The property will be sold in the manner resulting in the highest total sale price with the above restriction. DOWN PAYMENT: A 10% down payment of the total contract purchase price will be due immediately after being declared the buyer. The down payment may be paid in the form of personal check, business check, or cashier s check. The balance of the contract purchase price is due in cash at closing. YOUR BID- DING IS NOT CONDITIONAL UPON FINANCING. ACCEPTANCE OF BID PRICES: All successful bidders will sign an Agreement to Purchase at the auction site immediately following the close of bidding. All final bid prices are subject to the seller s acceptance or rejection. BROKER PARTICIPATION: A commission will be paid to any properly licensed Real Estate broker who registers a successful buyer according to the broker participation guidelines. Broker registration forms are available from the auction company. Forms must be completed and returned no later than 72 hours prior to the auction. CLOSING: Closing shall occur as soon as possible after applicable closing documents have been completed. Anticipated closing date is on or before October 20, 2009. Possession will be given at closing subject to any remaining rights of the current tenants. TITLE: Seller shall furnish the buyer(s) at seller s expense an Owner s Policy of Title Insurance in the amount of the purchase price, and agrees to provide and execute a proper deed conveying merchantable title to the real estate to the buyer(s). REAL ESTATE TAXES AND ASSESSMENTS: The 2009 calendar year taxes shall be prorated to the date of closing and shall be paid by the seller in the form of a credit to the buyer at closing. Buyer will be responsible for all subsequent taxes. CREP CONTRACTS: Buyers of CREP acres will be required to continue enrollment in existing CREP contracts. EASEMENTS AND LEASES: Sale of said property is subject to any and all easements of record and any and all government leases. SURVEY: AT THE SELLER S OPTION, the seller shall provide a new survey where there is no existing legal description. Any need for a new survey shall be determined solely by the seller unless such surveys are required by State or local law. The cost of the survey shall be paid by the seller. The type of survey performed shall be at the seller s option and sufficient for providing title insurance and the transfer of merchantable title. MINERAL RIGHTS: The sale of the property shall not include any mineral rights. WATER RIGHTS: The sale of the property shall include all water rights and well rights owned by the seller, if any. AGENCY: Westchester Auctions, LLC and its representatives are Exclusive Agents of the seller. DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Agreement to Purchase. ANNOUNCE- MENTS MADE BY THE AUCTIONEER AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE. 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. The information contained in this brochure is believed to be accurate but is subject to verification by all parties relying on it. No liability for its accuracy, errors or omissions is assumed by the seller or the auction company. All sketches and dimensions in this brochure are approximate. All acreages are approximate and have been estimated based on legal descriptions or aerial photographs. Conduct at the auction and increments of bidding are at the direction and discretion of the auctioneer. The seller 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 auctioneer are final. NEW DATA, CORRECTIONS AND CHANGES: Please arrive prior to scheduled auction time to inspect any changes, corrections, or additions to the property information. NOTE: Videotaping, flash photography, and/or public announcements will be allowed on auction day ONLY with prior approval from Westchester Auctions, LLC. SELLER: James W. Guercio and Caribou Land & Cattle Company, LLC.

800-607-6888 Tract 5 with live water Tract 4 - Enjoy the serenity Rolling Grass Meadows Potential Estate-Sized Building Sites Holy Joe Creek Meandering Holy Joe Creek Easy Access to Wray & Hwy. 34 Native Grass Pasture

970-454-2062 www.westchester-auctions.com Tract 8 - Beautiful views Tract 1: 161+/- acres bordering the town of Wray with Holy Joe Creek frontage. 35 acres in alfalfa/grass with the rest in native grass pasture. Two modular homes, outbuildings, domestic well and septic with city water at the property. Tract 2: 5+/- acres with city street access and electric to the property. *This tract will be sold subject to city approval. Tract 3: 9+/- acres is an ideal home site with views, city of Wray utilities and services and grass pasture. *This tract will be sold subject to city approval. Tract 4: 70+/- acres with substantial Holy Joe Creek frontage with elm and cottonwood trees providing wildlife cover along with native grass pasture. Close to town with a 3 bedroom, 1 bath home in a secluded setting along the creek. Tract 5: 82+/- acres with native grass pasture and Holy Joe Creek frontage. Tract 6: 40+/- acres of native sand hills grass close to town. Tract 7: 312+/- acres with Republican River along the south side and excellent native grass and power to the property. Tract 8: 195+/- acres overlooking the Republican River Valley with plenty of upper sand hills native grass. Tract 9: 126+/- acres with County Road KK.5 access at the northeast corner. Hayes Creek flows through the property providing year round water with rolling sand hills and grass meadows. Tract 1 - Looking west to the bluffs www.rmabrokers.com

800-607-6888 Tract 18 - Pond Tract 20 - Windmill & Stock Tank Native Grass Pasture Tracts from 2 Acres to 784 Acres Tract 15 - One of Yuma County s oldest homes

970-454-2062 www.westchester-auctions.com Tract 10: 56+/- acres located off County Road PP in a valley with rock ridges, cottonwood trees, elm trees and rolling grass covered terrain. There is electricity to the property along with a spring and cistern and good wildlife habitat. Tract 11: 72+/- acres with access along County Road PP primarily rolling hills of native grass. Tract 12: 38+/- acres along County Road PP including some dryland. Tract 13: 51+/- acres providing excellent wildlife habitat for whitetail deer including a spring flowing through the tract, native grass pasture, rock outcroppings and views overlooking the Republican River Valley. Tract 14: 145+/- acres set along the valley with several large hills and views down the Republican River Valley. Tract 15: 135+/- acres and one of the premier whitetail deer areas in the county. Frontage along the north fork of the Republican River and several tree groves and cover for wildlife. 125 acres more or less in alfalfa/grass with the balance in native grass. Also includes one of the oldest homes in Yuma County that is a round house with a cinder block add on. Tract 16: 62+/- acres with access along Hwy 34 and Republican River as the south border. Some of the best deer hunting in the county. Tract 17: 71+/- acres fronting Hwy 34 with mature trees, rolling sand hills and native grass. Electricity and domestic well already in place. Tract 18: 423+/- acres with Republican River frontage and a two story, 3 bedroom, 2 bath home remodeled in 2002. Rush Creek flows through the tract that also includes a pond and abundant wildlife. Tract 19: 300+/- acres which fronts on County Road RR with good sand hill native grass. Tract 20: 412+/- acres of rolling sand hills native grass with one domestic well, windmill and stock tank in place. Tract 21: 602+/- acres in native sand hills grass. Tract 22: 44+/- acres with existing domestic well and stock tank. Many elm trees and spring providing wildlife habitat and approximately 10 acres in dryland wheat. Tract 23: 162+/- acres including native sand hills grass and one domestic/stock well already in place with tank. Tract 24: 80+/- acres, all in native grass, fronting on County Road RR. Tract 25: 177+/- acres with access along County Road RR and domestic stock well, windmill and stock tank. Republican River is the southern border. Tract 26: 53+/- acres including a 250 head feedyard with concrete feed bunks, slab and auto waterer. Tract 27: 60+/- acres with access along Hwy 34. Primarily native sand hill grass. Tract 28: 47+/- acres with electricity and domestic well already in place and a set of corrals next to an old home site. Approximately 30 acres in dryland wheat, the rest in native grass. Tract 29: 81+/- acres of native sand hills grass. Borders the Nebraska state line on the east side. Tract 30: 92+/- acres of native sand hills grass, and borders County Road SS. Tract 31: 833+/- acres of native grass pasture with two stock water wells with windmills and stock tanks in place. Tract 32: 155+/- acres with 82 acres in CREP for 15 years paying $9,758 per year with the balance in native grass. Tract 33: 83+/- acres of native grass pasture with Rush Creek through the property. Tract 34: 80+/- acres of native grass pasture with Rush Creek through the property. Tract 35: 84+/- acres of native grass pasture with Rush Creek through the property. Tract 36: 83+/- acre parcel consisting of native grass, bordering County Road PP ½ with Rush Creek frontage. Tract 37: 80+/- acres all in native grass with County Road PP ½ frontage. Tract 38: 88+/- acres with cottonwood and elm trees along the Republican River providing good wildlife habitat. Nice 2 bedroom, 2 bath home with open floor plan, great views, all utilities in place and large steel building. 35 acres dryland alfalfa/grass mix with the balance in native grass. Tract 39: 2+/- acres that consist of half a city block including old Laird School. This tract cannot be combined with any other tract. Must be purchased individually.

POWERED BY COLORADO OFFICE: P.O. Box 235 Eaton, CO 80615 970-454-2062 www.westchester-auctions.com HEADQUARTERS: P.O. Box 3009, Champaign, Il 61826 217-352-6000 800-607-6888 www.westchester-auctions.com The nations leading land marketing authority excelling in land auctions. DENVER OFFICE: P.O. Box 160, Johnstown, CO 80534 970-535-0881 www.rmabrokers.com