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<br />. <br /> <br />IX. PROPERTY DESCRIPTION <br />A. Location & Access: <br />The subject property is a two sprinkler irrigated farming unit. Each circle has a <br />sprinkler and irrigation welL There are no other improvements on these properties. <br />Access is provided by Trail Roads between County Gravel #385 and the subject circles <br />with a deeded access being reflected per the legal description of Record. Due to these two <br />circles being severed from the entirety of the original three circles deeded, the legal <br />description will need to be amended for these two circles to be properly described. <br />B. Size and Shape: <br />Total acres are estimated at 256 Deeded with 38.55 total State Lease Acres with <br />36 Acres considered to be sprinkler irrigated. This is based on information acquired from <br />the Logan County Records, Survey Map of the Subject, and FSA information. The Shape <br />of the subject property is multi-sided based on the maps acquired from the owner as well <br />as those from the original seller and financier of the subject, Farm Credit Services. <br />C. Topography: <br />Topography is mostly rolling sandhills sprinklers. Irrigation is by sprinkler with <br />low pressure drop systems. <br />D, Soils and Productivity: <br />Soils and their estimated contribution to the whole are estimated as follows: <br />80% - Dailey Loamy Sand 3-9% Slopes Class IVe. <br />10% - Julesburg Loamy Sand 0-3% Slopes Class HIe. <br />10% - Julesburg Loamy Sand 3-9% Slopes Class IVe, <br />E. Vegetation: <br />Typical crops on irrigated cropland are Corn, Beans, Alfalfa Hay, & Sugar Beets. <br />F, Stock Water & Domestic Water: <br />There are no domestic or livestock wells included with this property. <br />G. Climatic Data: <br />The Colorado Climatology map reflects average annual rainfall of 14 to 16 inches <br />with annual growing season of 145 to 150 days. <br />H. Utilities: <br />Electricity is provided to both of the subject property sprinkler irrigated parcels. <br />No test has been completed on the irrigation wells or the irrigation sprinkler equipment. It <br />is noted that both sprinklers were in corn in the last operating cycle and appear to be in <br />good overall working condition, <br />I. Taxes: <br />The taxes and State Lease Fee, for the subject, have been estimated through <br />information acquired through the County Records and State Land Board. <br />Estimated Taxes are $3,938.62. <br />1. Mineral Rights: <br />A detailed search was not undertaken to determine the exact status of the mineral <br />estate on the subject property. There is not any mineral production on the property at this <br />time. Therefore, it is the conclusion that the presence or absence of mineral interests has a <br />negligible effect on the value of property in this area. <br /> <br />. <br /> <br />. <br /> <br />NIENHUSER APPRAISAL <br /> <br />- 12 - <br />