Stegall, TXBailey County

Location: The Bailey Property is located in the southwest-quadrant of Bailey County, being approximately 5 miles north of the small community of Stegall, Texas. The intersection of FM 1731 and FM 746 is the northeast corner of this property. Access is provided by FM 746 on the north for approximately 3 miles and FM 1731 on the east for approximately 1 mile. Various graded county roads also adjoin the property.

Legal Description: All of Sections 104, 105 and 106, Block A, Melvin Blum & Blum Survey, Bailey County, Texas.

2008 Property Taxes: 2008 property taxes were $5,170.

CRP Information: 1,574.5 acres are currently enrolled in the Conservation Reserve Program at a rate of $32/acre, or a total of $50,411/year. This land is in three separate contracts, with 434.7 acres expiring in 2010, 521.3 acres expiring in 2011 and 618.5 acres expiring in 2012. An additional 93.1 acres are enrolled in the DCP Program which receives a small annual government payment.

Remarks: This income producing property is located in the sand hills of Bailey County which has a reputation for supporting a large population of big mule deer. Scattered areas of mature trees located in the native pasture give the Bailey Property excellent wildlife habitat for the area. As mentioned, 1,574.5 acres are currently enrolled in the CRP, with the remaining 412.4 acres being in native pasture. All of the CRP is currently seeded to a good stand of a 4-way pasture mix consisting of Sand Dropseed, Side Oats Grama, Blue Grama and Black Switchgrass. All of the minerals owned by the seller and 100% of the wind rights will be conveyed with this offering. For additional information, please contact Rusty Lawson.