An all contiguous rangeland resource containing 6 pastures, 6 stock wells, with no building improvements. One stock well is shared with a neighbor. A combination of county acres and NRCS* acres were utilized for the analysis. NOTE: This is 1 parcel among 3 that can be found at the Mule Shoe Bar Ranches listing. Deeded acres by County Record:3,498.13 acres 2015 Real Estate Taxes by County Record: $10,094.18 Land Classification Summary Estimated Acres by County Record and NRCS* Sub Irrigated/Sandy Lowland Grazed: 198 ac* Sandhill Rangeland: 291 ac* Lake/Marsh: 9 ac* Total estimated acres by county record: 3498 ac Landlord Revenue Estimate 3,498 acres total by county record @ .50 AUMs/Ac 1751 AUMs* 1,751/12 months 146 AUs or 24 acres/AU 1,751/5 months/1.5 BWE 233 Pair or 15 ac/pair 233 pair @ $55/pair/month for 5 months -$64,075 or $18/ac CE $64,075 Gross Income $10,094 RE Taxes $ 7,000 R & R $ 700 Misc. $46,281 Net Income, Say $46,000 Net to Landlord Year Around Carrying Capacity Estimate 1751 AUMs/12 Mo 146 AUs 146 AUs .80 116 Cows (cow calf, retaining replacements, bulls) 3498 ac/146 AUs 24 Ac/AU 3498 ac/116 Cows 30 AC/AU Nebraska Sandhills The Mule Shoe Bar Ranches are located in the western region of the famed Nebraska Sandhills, known for one of the finest cattle producing regions in the United States. The Sandhills of Nebraska is the Nations largest undisturbed native grassland area. It covers approximately 13 million acres in 20 counties located in the north central part of the state. The grasses are vigorous and nutritious and have proven themselves as drought tolerant species centuries ago by supporting vast herds of Buffalo prior to the arrival of the white man. Ogallala Aquifer The Sandhills of Nebraska also sits on top of the largest fresh water aquifer in the continental U.S. Known as the Ogallala or High Plains Aquifer, it supports fresh water bearing material where this ranch is located in the range of 400-600 in depth. Stock wells and irrigation wells are generally considered shallow by comparison to other cattle producing regions in other states. Rainfall The rainfall belt in the area and location of these ranches, ranges from 16-19 per year, with the majority of it falling during the grass growing season. Rain is generally considered consistent and reliable, to the extent that cattle sell downs because of drought are rare. Markets The ranches are well located to auction barns in Ogallala and Gordon, Nebraska. Ogallala supports one of the finest livestock sale barns in the state of Nebraska. Thousands of reputation cattle pass through its gates annually in the form of special stock cow, bred heifer, yearling, and calf sales throughout the year. Buyers from several states are always on hand to create a consistent, top-end market for all classes of cattle. There are also video auction markets available that are nationwide in scope. Economies of Scale The sum of the three ranch resources will make an economically sized unit that will easily support a family along with hired or contract labor. Minerals The current ownership will convey all the owned minerals. Exchanges The current ownership will cooperate with 1031 exchanges. Approach to Management and Revenue All three Mule Shoe Bar Ranches under the current ownership have been utilized by grazing. In the analysis and use of the three resources, grazing has also been the predominant use. However, both the Beck Ranch and the South Ranch possess sub irrigated range sites, some of which could be routinely hayed each summer; if the owner chose to have a balance of hay on hand for the winter months. The USDA NRCS has developed and provided both ranch range site maps with estimated acreages as well as an animal unit study for each ranch. These studies have been utilized in determining the estimated carrying capacities of each ranch resource. What follows are each of the ranches estimates of deeded acres and current real estate taxes from the respective counties; as well as the NRCS estimates of acres, range sites, carrying capacity AUMs under average use, number of pastures, and number of stock wells. Each ranch has been evaluated for annual carrying capacity and an estimate of landlord revenue generation on a summer grazing basis utilizing cow-calf pairs.