Fennell Farms Retirement Auction VERTICALLY INTEGRATED HYBRID GRAZING/CATTLE FEEDING AND FARMING OPERATION 3,004 +/-ACRES (11 TRACTS) AUCTION DATE / TIME: Thursday, July 14th @ 10:00am AUCTION LOCATION: Bailey County Civic Center, 2206 W American Blvd, Muleshoe, TX 79347 AUCTION INFORMATION: All of the information for this live auction event can be found online by going to www.TXFarmRanchAuction.com PROPERTY LOCATION: Multiple farms located just outside of Earth, Texas. See website for tract locations. LEGAL DESCRIPTIONS: All legal descriptions are outlined in the Property Information Packets, under the Title Commitments. Select tracts may require survey to produce a legal description, prior to closing. MAP LINK: https://mequicklink.com/FennellFarmsAuctionMap METHOD OF AUCTION: Multi-parcel auction which allows buyers to bid on a single tract, combination of tracts, or the entire offering. PROPERTY INSPECTION: The property can be viewed by appointment, contact the auction company to schedule a showing at 806-786-5426 or 806-686-6371. GENERAL DESCRIPTION: This versatile and unique opportunity is a vertically integrated hybrid grazing/cattle feeding operation while still being a fully functional, modern farming operation. Years of development and improvement have led to a fully functional and innovative operation that includes a beautiful well-established homestead and headquarters facility. The innovation of the owners has created a collection of independent feeding/grazing/farming units that could truly function and operate as excellent individual operations but can also support each other through the benefit of resource sharing, close-proximity, and economies of scale. Overall, the soils on this land are some of the more desirable and versatile soils present in the county and region and are well suited for Irrigated and Non-Irrigated practices. All the Pivot Irrigation Systems are equipped with AgSense Systems (subscription required) with minimum of monitoring and stopping control. The Valley systems or systems with Valley Panels have full control functionality. Each Cattle feeding facility has independent livestock watering systems with dedicated well(s) and all the facilities have Sadler Concrete Bunks. Each of the processing areas are equipped with working chutes and the loading facilities are set up to move cattle in and out with ease. TRACT DESCRIPTIONS: 3,004+/- acres offered in (11 TRACTS), more specifically described as follows: TRACT 1: 343.1 +/- deeded acres. The soil composition is primarily comprised of Acuff loam, Olton loam, Portales loam, and Amarillo fine sandy loam; all in class 3e and all ranging from 0-3 percent slope. This tract has permanent 3-wire perimeter and interior fencing (middle wire energized), with 253 +/- acres under pivot with 3 pivot irrigation systems w/8 irrigation wells all tied together with underground line. The two larger pivots are packaged at 300 gpm, and the 50-acre Pivot is packaged at 200 gpm. Normally the pivots are run one at a time and it is not required to run all the wells, but owner can run a 300 gpm unit and 200 gpm with slightly lower pressure if all wells are utilized. Owner estimates just over 400 gpm total water for the tract. The Pivot Irrigation Systems are equipped with AgSense Systems (subscription required) with minimum of monitoring and stopping control. The Valley systems have full control functionality. Pipe and cable constructed cattle feeding/working/shipping facility that can be accessed by all three irrigated pivot areas, equipped with Watson automatic waterer fed by separate livestock watering system with dedicated well. Extra Large Pen has 200 of Sadler concrete bunk with 10 concrete apron, along with 200 of steel bunk as well, Powder River working chute and alley, loading chute and alley. There is an all-weather caliche road accessing property from US Hwy 70 and it is fenced on both sides so no need to open gates to access the feeding area with a feed truck. Underground irrigation system is connected to tract 4 offering the option to move water between tracts if purchased by the same buyer. TRACT 2: 264 +/- deeded acres. The soil composition is dominated by Acuff loam with some Amarillo fine sandy loam and Midessa fine sandy loam; all in class 3e and all ranging from 0-3 percent slope. This tract has permanent 5-wire and some 3-wire perimeter and interior fencing (middle wire energized), 168 +/- acres under pivot with 2 pivot irrigation systems w/5 irrigation wells tied together with underground line. The Pivot Irrigation Systems are equipped with AgSense Systems (subscription required) with minimum of monitoring and stopping control. The Valley systems have full control functionality. These systems are packaged at 300 gpm and can be run one at a time. Recently Constructed pipe and cable cattle feeding/working/shipping facility with 4 Pens each w/ Johnson automatic waterers that are fed by separate livestock watering system with dedicated wells. Each pen is setup with 200 of Sadler concrete feed bunk with 10 concrete aprons for a total of 800 of bunk space at this location. These pens feed into the two pivot areas and also feed into 2 quarter section tracts directly north of Tract 2, which is currently leased by the Seller (leasing of this additional acreage may be an option for the buyer of Tract 2). This facility is also equipped with a bud box to feed Powder River working chutes and loading chutes and is a very well thought out pen configuration with excellent perimeter alley for moving cattle to working/shipping area. All-weather caliche road services this pen location with access off US Hwy 70. TRACT 3: 622.7 +/- deeded acres. The soil composition is comprised of mostly Amarillo fine sandy loam with good amounts of Zita fine sandy loam and Acuff loam; all in class 3e and all ranging from 0-3 percent slope. This tract has permanent 3-wire perimeter and interior fencing (middle wire energized), 435 +/-acres under pivot with 4 pivot irrigation systems w/10 irrigation wells all tied together with underground line. The Pivot Irrigation Systems are equipped with AgSense Systems (subscription required) with minimum of monitoring and stopping control. The Valley systems have full control functionality. These systems are packaged at 300 gpm and can be run one at a time. Excellent large pipe and cable cattle feeding/working/shipping facility with 3 pens each with Johnson automatic waterers that are fed by separate livestock watering system with 2 dedicated wells. Each pen is set up with 200 of Sadler concrete feed bunk with 10 concrete aprons for a total of 600 of bunk space at this location. There is already a great start to an expansion pen with room for an additional 200 of bunk space. There is a shipping and working area with Powder River working chute fed by holding pens and alleys. All-weather caliche road services this pen location with access off US Hwy 70 and it is fenced on both sides so no need to open gates to access the feeding area with a feed truck. Underground irrigation system is connected to tract 4 offering the option to move water between tracts if purchased by the same buyer. TRACT 4: 318.2 +/- deeded acres. The soil composition is comprised of Amarillo fine sandy loam and Acuff loam; both in class 3e and ranging from 0-3 percent slope. This tract has permanent 3-wire perimeter and interior fencing (middle wire energized), 225 +/- acres under pivot with 2 pivot irrigation systems w/6 irrigation wells tied together with underground line. The Pivot Irrigation Systems are equipped with AgSense Systems (subscription required) with full control functionality. These systems are packaged at 200 gpm and can be run one at a time. This tract has an awful lot to offer in the way of extra improvements with a large 120X60 equipment barn with 30X120 west and 30X80 east lean-tos large enough to park large items such as tractors, front-end loaders etc. Included in this large structure is also a heated and insulated self-propelled sprayer room with large, elevated racks for chemical totes to provide gravity flow into the herbicide transfer system. Also on this tract is a combo structure that includes a 30X50 heated shop, with multiple rooms including an ATV storage shed, heated medicine/breakroom, heated tack room, lawnmower shed and 6 stall horse area that connects to a large horse corral and 10-acre horse pasture. There is a large equipment yard and an equipment washing pad w/ metal shed that could house high pressure heated washer. Well-designed pipe and cable cattle feeding/working/shipping facility with 2 large pens each with Johnson automatic waterers that are fed by separate livestock watering system with a dedicated well. Each pen is set up with 200 of Sadler concrete feed bunk with 10 concrete aprons for a total of 400 of bunk space at this location. There is a shipping area and working area with Powder River working chute at this location fed by holding pens and alleys. All-weather bottom ash and caliche road services this pen location with access south off US Hwy 70. Underground irrigation system is connected to tract 1 and 3 offering the option to move water between tracts if purchased by the same buyer. If tract 5 is purchased in conjunction with tract 4, buyer can utilize 3 dedicated wells for livestock water, domestic water for residence and automatic sprinkler system for lawn. TRACT 5 (Home): 2.0 +/- deeded acres subject to possible survey. Enjoy a serene escape in this stunning home on approximately 2 acres outside the rural community of Springlake-Earth, TX. This is an opportunity to move right in to an elegant, freshly updated, turn-key home. Quiet and private, this beautiful 2-story home is set far back on the property, nestled among mature trees and beautiful landscaping. Upon entering the home, you will love the spacious family room which leads to the beautiful custom kitchen and dining area featuring gorgeous cabinetry, granite countertops, a breakfast bar and plantation shutters. Adjoining the kitchen is not only a convenient mudroom with a sink which leads to the backyard, but also an amazing laundry area, offering plenty of storage space, room for a freezer, as well as a granite topped folding area that could also be used as a desk. Off the dining area, you will also find a great sized bedroom and updated bath as well as a large closet for storage. The master suite is sure to be your favorite place in the home to relax, offering a gorgeous yet functional bathroom, large walk in closet and beautiful box ceiling. Upstairs you will find two nice sized bedrooms with great closet space and access to the attic. You are going to love the AMAZING backyard, surrounded by tall, mature trees and complete with lush green grass and a well-kept above ground pool with wonderful pool deck and railing. Work from home? There is also an additional office in the backyard with over 300 sf of workspace complete with beautiful built-in shelving, natural lighting, and newer carpeting. Outdoors also features a newly constructed carport as well as a storm cellar for added safety along with a gas-powered single-phase backup generator and an onsite septic system with 1200 gallon concrete tank with 4, 75 gravel packed leach lines. This property has countless special features and is truly an example of PRIDE of OWNERSHIP. You will not want to miss your opportunity to purchase this great place to call your HOME. With countless special features, this is truly a turnkey and private home offering old house charm, with new house amenities. If tract 4 is purchased in conjunction with tract 5 buyer can utilize 3 dedicated wells for livestock water, domestic water for residence and automatic sprinkler system for lawn. Note: Owner will maintain possession of home up to 60 days after closing, but will agree to pay rent at a rate of $1,000 per/month, during this time. TRACT 6: 313.3 +/- deeded acres. The southeast circle soil composition is all Amarillo fine sandy loam in class 3e and ranging from 0-3 percent slope. The northwest circle soil composition is mostly Amarillo fine sandy loam in class 3e and Randall clay in class 6w; both ranging from 0-3 percent slope with the Randall clay occasionally ponded. This tract has permanent 3-wire perimeter and interior fencing (middle wire energized), 240 +/- acres under pivot with 2 pivot irrigation systems w/6 irrigation wells tied together with underground line, one of the wells is located on tract 7 and is accessed by an easement. The Pivot Irrigation Systems are equipped with AgSense Systems (subscription required) with minimum of monitoring and stopping control. The irrigation systems have full control functionality. These systems are packaged at 300 gpm and can be run one at a time. Pipe and cable constructed cattle feeding/working/shipping facility that can be accessed by Northwest quarter, equipped with Johnson automatic waterer fed by separate livestock watering system with dedicated well. Pen has 200 of Sadler concrete bunk with 10 concrete apron, working chute with holding pen and alley. These two tracts are situated on Farm to Market 1055 just north of Earth, Texas. TRACT 7: 484.0 +/- deeded acres. The dominant soil type on this tract is Amarillo fine sandy loam in class 3e and ranging from 0-3 percent slope. This tract has permanent 3-wire perimeter and interior fencing (middle wire energized). This permanently fenced grass pasture/cattle feeding tract is divided into 6 basically equal sized pastures all with access to an outstanding pipe and cable constructed cattle feeding/working/shipping facility with 8 Pens each w/ automatic Superior waterers that are fed by separate livestock watering system with dedicated wells that is also equipped with a 3-phase propane generator to provide backup power for cattle water wells. Each pen is set up with 200 of Sadler concrete feed bunk with 10 concrete aprons for a total of 1600 of bunk space at this location. There is a larger hospital pen with Superior automatic waterer and a smaller hospital pen with galvanized automatic waterer and 30 of bunk space. This facility is also equipped with cattle tub and alley to feed into a working WW brand working chute and loading chutes along with 2 large holding pens and is a very well thought out pen configuration with excellent center alley for moving cattle to working/shipping area. There is an all-weather caliche road accessing property from FM 1055 and it is fenced on both sides so no need to open gates to access the feeding area with a feed truck. TRACT 8: 172.1 +/- deeded acres. The dominant soil type on this tract is Amarillo fine sandy loam in class 3e and ranging from 0-3 percent slope. This tract has permanent 3-wire perimeter and interior fencing (middle wire energized), 124 +/- acres under pivot with 2 pivot irrigation systems w/3 irrigation wells tied together with underground line. The Pivot Irrigation Systems are equipped with AgSense Systems (subscription required) with full control functionality. These systems are packaged at 200 gpm and can be run one at a time. Pipe and cable constructed cattle feeding/working/shipping facility that can be accessed by all both irrigated pivot areas, equipped with Johnson automatic waterer fed by separate livestock watering system with dedicated well. Pen has 120 of Sadler concrete bunk, 80 of portable steel bunk, Powder River working chute with holding pen and alley, and loading alley. All weather caliche road is accessed by County RD 104. TRACT 9: 160.0 +/- deeded acres. The soil composition is comprised of Olton loam and Acuff loam; both in class 3e and ranging from 0-3 percent slope. 120 +/- acres under pivot with 3 irrigation wells and one livestock well. The Pivot Irrigation Systems are equipped with AgSense Systems (subscription required) with full control functionality. This system is packaged at 200 gpm but the owner indicated that it runs above stated pressure, packaged this way to deal with slope when headed south to maintain good pattern. This is a productive farm with good history of silage and wheatlage production. Farm is accessed by CR 199 from US Hwy 70 or CR 74 from US Hwy 385 just northwest of Springlake, Texas. Note: Owner will retain ownership of the existing corn crop and will keep possession of tract until harvest is completed in late August or early September 2022. TRACT 10: 320.0 +/- deeded acres. This tract is dominated by Olton loam in class 3e and ranging from 0-3 percent slope. This tract has permanent 3-wire perimeter and interior fencing (middle wire energized), 240 +/- acres under pivot with 2 pivot irrigation systems w/5 irrigation wells tied together with underground line. These systems are packaged at 200 gpm and can be run one at a time. The Pivot Irrigation Systems are equipped with AgSense Systems (subscription required) with minimum of monitoring and stopping control. The Zimmatic system with Valley Panel has full control functionality. Pipe and cable constructed cattle feeding/working/shipping facility that can be accessed by all both irrigated pivot areas, equipped with Johnson automatic waterer fed by separate livestock watering system with dedicated well. Pipe constructed cattle feeding/working/shipping facility that can be accessed by both irrigated pivot areas, equipped with automatic waterer fed by separate livestock watering system with 2 dedicated wells. Pen has 200 of concrete bunk with 10 concrete apron, Powder River working chute and alley, and loading alley along with holding pen. Bunks can be accessed on all weather caliche just off FM 2901 on north side of property. TRACT 11: 4.4 +/- deeded acres. This commodity mixing, and storage pad is equipped with a covered overhead supplement bin that also doubles as feed truck covered parking, large pad site for silage and commodities and elevation ramp for loaders to load taller trucks. It is fenced out from adjacent tract #3 with permanent 3-wire perimeter and interior fencing (middle wire energized). It has excellent drainage and is large enough for 2 or 3 large stacks of silage, All-weather base surface is used year around and has excellent road access with frontage on FM 302 and is in close proximity to all cattle pasture/feeding tracts in this auction and a sure value to any owner of these tracts. Also has great accessibility to bring in silage from outside sources located only mile from US Hwy 70. FSA INFORMATION: All FSA information is provided as a courtesy from the Lamb County, Texas Farm Service Agency. To view (or download) the FSA info and the 156EZ reports on each farm, go to the auction website. SURVEY: In the event any purchased tract requires a survey to determine the legal description, the cost of the survey will be paid by the seller. If the same buyer or entity purchases two (2) or more adjoining tracts and no survey is required to separate said tracts, then no survey will be provided by the seller. Any survey of adjacent tracts purchased in a combination will be for the perimeter only. Any additional survey desired by the buyer will be at the buyers sole discretion and cost. In the event said survey identifies a variance between the advertised and surveyed acres, the purchase price will be adjusted on a per acre basis. POSSESSION: Possession of the properties shall be given upon payment in full of the purchase price and transfer of title at closing, with exception to the following: TRACT 5: possession of the home shall be given on or within 60 days of the closing date, subject to the seller paying a cash rent to the buyer, at a rate of $1,000 per/month. TRACT 10: possession shall be given upon completion of harvest of the currently growing corn crop. TAXES: The current years taxes will be prorated to the day of closing. All previous years taxes will be paid by Seller. MINERALS: All mineral rights owned by sellers (if any) shall transfer with the surface. PERSONAL PROPERTY: Any livestock or farm equipment, hunting equipment, and personal property currently located on the farm does not sell and may be removed prior to closing and possession. The irrigation systems (well equipment, pumps, pivots) outlined above in the tract descriptions will remain with the property it is situated on. AUCTIONEERS NOTE: This offering is the lifetime culmination of the combined efforts of both Lexie and Kelley Fennell. The Fennells have for several decades been viewed as forward thinking, respected leaders in both regional farming and cattle feeding realms. Lexie and Kelley have continued to build and improve their farming and cattle grazing/feeding operation with a constant effort to adapt and improve. The Fennells have built one of the most progressive and successful operations of its kind. As with all things however, there is a time and season, and Lexie and Kelley are desiring to spend more time with their grandchildren and slow down a bit. They have this operation in top notch condition, and it is their hope and desire that what they have accomplished through hard work and integrity and Gods grace can help lay a foundation or serve as a big step forward for whoever acquires all or a piece of this offering.