Minerals Conveyed:
50% (with %50 reserved for 15 years, and if production, for as long there after as production.
Earnest Money:
10% down the day of the Auction. Balance due at closing of the sale.
Possession:
Grass & Wheat Stubble: March 1, 2010
Cropland in Wheat: after Harvest with Buyer to receive 1/3 of the wheat and 1/3 of the government payment.
Title Insurance:
One-half (1/2) to be paid by the buyer and one half (1/2) to be paid by the seller.
Agency:
Knopp Auction & Realty are agents of the Seller.
Notes-Terms:
Good title is warranted. Buyer has 30 days from day of sale to approve title. All acres shall be considered U.S. Government Survey there of. Announcements made at the auction shall take precedence. All titles shall be subject to easements, roads, right of way, leases and/or all reservations.
