NOTICE OF LAND SALE United Country – Neeley Forestry Service, Inc., acting as agent for the seller, has been authorized to sell eight (8) tracts of timberland located in Dallas County, Arkansas and totaling ±501 acres. These properties are being offered through a lump sum sealed bid sale. Bids will be received until Thursday, January 15, 2015 at 10:00am. Bids will be received for each tract individually as well as for the entire sale package, i.e. ±501 acres. The table below contains summary information. More detailed information about each tract as well as conditions of the sale can be found in this sale notice. Tract Name Hickory Ridge White Oak Flats North Holly Springs Patterson Branch East County Line Macedonia Church Cypress Creek Manning Tract TOTAL Listing # 03019-03247 03019-03248 03019-03249 03019-03250 03019-03251 03019-03252 03019-03253 03019-03254 Acres 100 40 120 40 80 40 41 40 501 Sec-Twp-Rng 26,27-9s-16w 10-10s-16w 23-10s-16w 26-10s-16w 19-8s-17w 33-8s-17w 10-10s-16w 10-10s-16w Legal Descriptions Hickory Ridge Tract (#03019-03247) – The West Half of the Southwest Quarter (W½ SW¼) of Section 26 and the East Half of the Northeast Quarter of the Southeast Quarter (E½ NE¼ SE¼) of Section 27; all in Township 9 South, Range 16 West, in Dallas County, Arkansas, containing 100 acres, more or less. White Oak Flats Tract (#03019-03248) – The Northwest Quarter of the Southeast Quarter (NW¼ SE¼) of Section 10, Township 10 South, Range 16 West, in Dallas County, Arkansas, containing 4 acres, more or less. North Holly Springs Tract (#03019-03249) – The East Half of the Northwest Quarter (E½ NW¼) and the Northwest Quarter of the Northeast Quarter (NW¼ NE¼) of Section 23, Township 10 South, Range 16 West, in Dallas County, Arkansas, containing 120 acres, more or less. Patterson Branch Tract (#03019-03250) – The Northwest Quarter of the Northwest Quarter (NW¼ NW¼) of Section 26, Township 10 South, Range 16 West, in Dallas County, Arkansas, containing 40 acres, more or less. East County Line Road Tract (#03019-03251) – The North Half of the Southwest Quarter (N½ SW¼) of Section 19, Township 8 South, Range 17 West, in Dallas County, Arkansas, containing 80 acres, more or less. Macedonia Church Tract (#03019-03252) – The Southwest Quarter of the Southeast Quarter (SW¼ SE¼) of Section 33, Township 8 South, Range 17 West, in Dallas County, Arkansas, containing 40 acres, more or less. Cypress Creek Tract (#03019-03253) – The Southwest Quarter of the Northeast Quarter (SW¼ NE¼) and one acre in the Southeast Corner of the Southeast Quarter of the Northwest Quarter lying east of highway (Pt. SE¼ NW¼); all in Section 20, Township 9 South, Range 17 West, in Dallas County, Arkansas, containing 41 acres, more or less. Manning Tract (#03019-03254) – The Southwest Quarter of the Southeast Quarter (SW¼ SE¼) of Section 19, Township 8 South, Range 16 West, in Dallas County, Arkansas, containing 40 acres, more or less. Tract Descriptions The Hickory Ridge Tract (#03019-03247) is located in the south-central part of Dallas County about six miles north of the Holly Springs community and seven miles east of Sparkman. Access to the property is good via Dallas #210, a gravel county road that runs through the southern portion of property. According to USDA soil survey information the tract contains primarily Smithdal-Sacul association soils which have a site index of 80 feet for loblolly pine at a base age of 50 years. These fine sandy loam soils coupled with gently rolling topography make it well drained and accessible to timber harvest during wetter periods. The property currently contains a natural, uneven-aged stand of pine. The White Oak Flats Tract (#03019-03248) is located in the southern part of Dallas County about three miles north of the Holly Springs community. Access to the property is good via unimproved woods road off Dallas county road #217. According to USDA soil survey information the eastern portion of the tract, which consists of gently rolling terrain, consists of several fine sandy loam soils while the western portion of the tract, which is relatively flat, consists of Amy silt loam soil. The site index for the tract based upon the weighted average of the soils is 87 feet for loblolly pine at a base age of 50 years. The tract contains a natural, uneven-aged stand of pine with above average size and quality. The North Holly Springs Tract (#03019-03249) is located in the southern part of Dallas County about two miles north of the Holly Springs community. Access to the property is good via unimproved woods road off Dallas county road #218. According to USDA soil survey information the soils consist of several fine sandy loam soils. The site index for the tract based upon the weighted average of the soils is 80 feet for loblolly pine at a base age of 50 years. These fine sandy loam soils coupled with gently rolling topography make this a very well drained tract of timberland that is accessible during wetter months of the year. The tract contains a natural, uneven-aged stand of pine. The Patterson Branch Tract (#03019-03250) is located in the southern part of Dallas County about one mile north of the Holly Springs community. Access to the property is good via short unimproved woods road off state highway #128. According to USDA soil survey information the soils consists primarily of several fine sandy loam soil. The site index for the tract based upon the weighted average of the soils is 82 feet for loblolly pine at a base age of 50 years. The east side of the tract contains a natural, uneven-aged stand of pine with good stocking of pine sawtimber with natural pine regeneration underneath. Patterson Branch runs through the property. A streamside management zone (SMZ) consisting primarily of hardwood, is located along the branch. The approximately 12 acres located west of the branch contains primarily a younger stocking of pine. The East County Line Tract (#03019-03251) is located in the western part of Dallas County on the Clark-Dallas County line, about one mile south of Dalark. Access is via Dallas county road #245, which runs along the western portion of the tract. The topography of the tract is flat to gently sloping. According to USDA soil survey information the Smithton fine sandy loam covers most of the tract. It boast a site index of 90 feet for loblolly pine at a base age of 50 years. The site index for the tract based upon the weighted average of all soils is 89 feet for loblolly pine at a base age of 50 years. The western portion of the tract (50-55 acres) contains a well-stocked uneven-aged stand of pine. The eastern portion of the tract contains a light shelterwood to heavy seed tree type natural stand of pine with a fair stocking of advanced pine regeneration underneath. The Macedonia Church Tract (#03019-03252) is located in the western part of Dallas County about four miles north of Sparkman. Access is via gated woods road off Dallas county road #208. A combination lock has been placed on the gate. The combination is 5-9-8-1. The topography of the tract is gently rolling. According to USDA soil survey information the Pikeville and Savannah fine sandy loam located on most of the tract have site indexes of 80 and 81 feet respectively for loblolly pine at a base age of 50 years. The tract contains a predominantly natural stand of pine with a scattering of hardwood pulpwood throughout. The Cypress Creek Tract (#03019-03253) is located in the western part of Dallas County about one mile north of Sparkman. Access is via short woods road off state highway #7, which accesses the property near its southwest corner. The topography of the tract is flat to gently sloping. The central and southwesterly portions of the tract contain predominantly pine. The northern and eastern portions of the tract are slightly lower in elevation and contain a good mixture of pine and hardwood but are predominantly hardwood. According to USDA soil survey information the Guyton and Ouachita silt loam soils that cover the property boasts site indexes of 90 and 95 feet for loblolly pine at a base age of 50 years. The site index for the tract based upon the weighted average of all soils is 94 feet for loblolly pine at a base age of 50 years. The Manning Tract (#03019-03251) is located in the northwestern part of Dallas County near the Manning community. Access is via state highway #8, which runs through the tract. According to USDA soil survey information the only soil type on the property is Smithdale association (fine sandy loam). It is reported to have a site index of 80 feet for loblolly pine at a base age of 50 years. The soil coupled with gently rolling topography make this a well-drained property that is accessible during wetter periods of the year. The timber consists of a natural, uneven-aged stand of pine. CONDITIONS OF SALE: 1. Sealed bids will be received at the office of UC-NEELEY FORESTRY SERVICE, INC., 915 Pickett Street, Camden, AR 71701, until 10:00 a.m. Thursday, January 15, 2015, and at that time publicly opened. If your bid is mailed, please indicate on the outside of the envelope “BID ON SPENCE LAND SALE”. PLEASE INDICATE THE TRACT YOU ARE BIDDING ON. Bids may be faxed to (870) 836-7432. NO TELEPHONE BIDS WILL BE ACCEPTED. BIDS MUST BE FAXED, MAILED, OR HAND DELIVERED. 2. Acreages are believed to be correct but are not guaranteed. 3. NO PER ACRE BIDS WILL BE ACCEPTED. 4. The Seller reserves the right to accept any or all bids. Bids shall remain valid through January 20th, 2015. Upon acceptance of a bid, a more final contract will be executed between Buyer and Seller with Buyer putting forth 10% of the purchase price as earnest money upon execution. 5. Owner will CONVEY ALL their mineral interest. 6. Seller will furnish title insurance. 7. A Warranty Deed will be prepared at the Seller’s expense. The Seller will pay half of the documentary stamps required by law for the recordation of the deed. 8. All property tax will be paid by owner up to date of the sale. 9. Total consideration will be due at closing when a Warranty Deed is transferred to the Buyer from the Seller. 10. The timber volumes as shown in this prospectus are not guaranteed and each bidder is asked to make their own volume determination. 11. Disclaimer: The properties are being offered for sale “AS IS”. All information provided by the Seller, United Country – Neeley Forestry Service, Inc. or its agents is believed to be reliable but is not guaranteed in any manner. Prospective Buyer(s) should verify themselves all information about the property to their satisfaction; including but not limited to acres, timber, and access. 12. Prospective Buyers have the right to enter onto the properties for the purpose of inspecting them. Property inspections shall be conducted during daylight hours prior to the bid date. Prospective buyers or their agents understand and acknowledge that while on the property they assume all liability and shall indemnify seller, its agents, and property managers from and against all claims, demands, or causes of actions of every kind, nature, and description relating to access to or presence on the properties. 13. Any personal property items such as hunting blinds, game feeders, wildlife cameras, or any other man-made items do not convey with the properties unless otherwise stated. 12. If you have any questions about this sale, please call Neeley Forestry Service, Inc. at (870) 836-5981. Yours truly, Joshua C. Barkhimer Executive Broker