150 Acres in Lockhart, TX - $450,000

BACKGROUND INFORMATION: This property has always been used for farming, ranching and recreation. Ownership is now vested in several family members who have decided to liquidate the property and resolve their undivided interest. Accordingly, the property has been placed on the market and it is priced to sell.

METHOD OF SALE: The Owners (Sellers) have given Thornton Ranch Sales exclusive written authorization to sell this property. The sellers will convey the property by General Warranty Deed and provide a Standard Owners Policy of Title Insurance and a current survey. This property is offered for sale for all cash or on an installment sale with liberal financing provided by the Seller as hereinafter described.

DESCRIPTION: This is a clean piece of property ideally suited for someone whose desire is to own and create a comfortable country estate within a reasonable distance of Austin, Texas. Specifically, this property has a secluded end-of-the-road location with excellent access via 1,548 feet of frontage on an all-weather county road. There are no easements through the property and no public roads on any boundary line with exception of the county road that fronts the property, thus privacy is assured. The new SH 130 toll-road, scheduled for completion in late 2012, is only five miles east of the property and will provide quick access to downtown Austin. Terrain elevations vary from 540 to 630 feet above sea level. There are several excellent high elevation building sites overlooking the surrounding area and a pretty flood control lake located adjacent to the north boundary line of the property. About 2 or 3 acres of the property lies within the lake flood easement. This property has deep, fertile clay-loam soil that is ideally suited for orchards, vineyards, vegetables, grasses or crops. All the essential ingredients are in place to facilitate creation of a country showplace (i.e. easy access, electricity, telephone, and city water from the Maxwell Water Supply Corporation headquartered in Maxwell). This ranch is priced right and will be a great investment for the buyer who desires to experience country living at its finest.

MINERALS, WATER AND AIR RIGHTS: The surface estate only is offered for sale as the Seller owns no minerals. Conveyance of only the surface estate is not a problem as there has never been any oil or gas production in the immediate area and there probably never will be. All water and air rights owned by the Seller will be conveyed.

POSSESSION: Possession of the Property subject to no leases of any kind will be delivered to the buyer on the date of closing and funding.

IMPROVEMENTS: Fenced on all perimeter boundary lines with low fence with exception of the south boundary line which is unfenced. Electricity, telephone and city water are available.

TAXES: Total ad valorum taxes for CY2010 were approximately $277.00 or about $1.85 per acre, based on the Agricultural Exemption currently in place.

PRICE: $540,000.00* ($3,600.00 per acre)

* Price to be adjusted based on the actual number of surveyed acres that will be conveyed by a General Warranty Deed and covered by an Owner's Policy of Title Insurance multiplied by the price per acre agreed upon by Seller and Buyer.

TERMS (3 options as follows):

1. All cash at closing.

2. 20% or more cash down and OWNER will finance the balance on a first lien amortized note for a term of fifteen (15) years at a fixed interest rate of 6.0% with monthly payments. Said note to contain no prepayment penalty and be a non-recourse (no personal liability) note secured solely by the property. Said financing to be subject to OWNER'S approval of Buyer's credit, and until the Note is paid in full there shall be no waste of the Property, no subdivision, nor any strip mining of/on the Property. Said Note to be due on sale in event the Buyer resells the Property before the Note is paid in full.

3. Any other terms acceptable to OWNER.

BROKERS COMMENTS: This parcel of pretty productive land is un-zoned, has no restrictions and lies within the jurisdiction of the Caldwell County Commissioners. It has great potential for creation of a classic country estate. Or, it is a candidate for development into a small tract subdivision because of its topography, public road access, close proximity to the SH 130 toll-road which will be completed in the latter part of 2012, and the availability of city water from Maxwell Water Supply Corporation which has an 8 inch diameter water line running along County Road 109 A that forms the east boundary line of the property.

SHOWING COORDINATION: This ranch is available for inspection seven days a week by prior appointment only. CALL: Len Thornton (210) 656-1955 at any time for showing coordination, service and support. Or if Len is not available, then contact FRANK CARTER at (956) 740-4849.

NOTE: This information was obtained from sources deemed reliable and is presented subject to errors, omissions, change of price or conditions, prior sale or withdrawal from the market without notice and is provided by Thornton Ranch Sales without any guarantee, warranty or representation, express or implied.