Tract 3:Tract three is a non-contiguous short section, with approximately 520± acres of good to excellent hardland pasture, very few cedar trees, in a nice rolling hill setting. There are two windmills, and two stock ponds. Tract three is accessed through a neighbor, and will have legal access with a perpetual easement. This same neighbor will also have a perpetual easement through a part of Tract two. The ranch has been evaluated for estimated carrying capacities as well as estimated landlord revenue on a summer grazing basis utilizing cow/calf pairs and market rents. The ranch has two long term tenants. They have worked and cared for the land along with the current owners. The current ownership is very conservation minded and the ranch resource reflects this. Deeded Acres By County Record Tract 3 - Taxes: $6,104.36 Hardland pasture: 520.23± Location/Background The Devine Ranch is located in South Central Custer County near Oconto, Nebraska, approximately 25 miles North from Lexington, which has one of the largest beef packing plants in the region. This ranch was homesteaded by John A. Devine who is still considered a very prominent man of Oconto. The current Owners of the Devine Ranch are direct descendants of the original Devine Family that homesteaded it. This is the first time this ranch has been for sale since it was homesteaded 132 years ago in 1889. Rainfall The rainfall in the area and location of this ranch ranges from 20"-24" per year with the majority of it falling during the growing season. It is generally considered consistent and reliable to the extent that cattle sell downs because droughts are rare. Minerals The current ownership will convey all the owned minerals. Exchanges The current ownership will cooperate with 1031 exchanges. Ogallala Aquifer The Sandhills of Nebraska support the largest fresh water aquifer in the continental U.S. Known as the Ogallala or High Plains Aquifer, it develops fresh water bearing material where this ranch is located. Stock wells and irrigation wells are generally considered shallow by comparison to other cattle producing regions in other states. The Devine Ranch is located in the Ogallala Aquifer that supports approximately 400-600 feet of fresh water bearing material in the area of the ranch. Static and pumping levels for both irrigation wells and stock wells are considered shallow and excellent. A major factor in this is the South Loup River that traverses through Tract two. Landlord Revenue Estimate Tract 3 520.23 Acres Total by County Record @ .80 AUMs - 416 AUMs 416/12 months - 35 AUs or 15 Acres/AU 416/5 months - 1.6 BWE, 52 Pair or 10 acres/pair 52 pair @ $65.00/pair/month for 5 months - $16,900 $16,900 Gross Income $6,104 Real Estate Taxes $1,000 R & R $1,750 Misc $8,046 Net Income, Say $8,000 Net to Landlord Summary Estimate Tract 3 520 Acres $16,900 Gross Income $8,000 Net Income