Located approximately 1 mile south and 1 mile east of Happy, Texas on FM 1881. This property has county road frontage, and enrolled in the Conservation Reserve Program.

LOCATION: From Alanreed, TX - go south on FM 291 approximately 2.3 miles to the northeast corner of the property. County Road B runs along the south side of the property. NOTE: The southeast corner of the property is on the east side of FM 291. LEGAL DESCRIPTION: All of Section 22, Block E, D&P Ry. Co. Survey, Donley County, Texas.

LOCATION: Clarendon, TX - go north on Hwy 70 approximately 6.4 miles to County Road K, then east one mile on CR K to the southwest corner of the property. LEGAL DESCRIPTION: Surveys #48, 53, & 54, all in Block C-3, D&P Ry Co Survey, Donley County, Texas. Complete legal description on file.

LOCATION: Twitty, TX - go west on FM 592 for 1 mile from SH 83. This is the northeast corner of the property. LEGAL DESCRIPTION: Section 5, Block A-8, H&GN Ry. Co. Survey, Wheeler County, Texas. ACREAGE: TOTAL: 640 +/- DRY FARMLAND: 235 +/- IRRIGATED FARMLAND: GRASSLAND: 405 +/- TOPOGRAPHY: Flat to rolling terrain. The farmland has not been farmed in a couple of years.

LOCATION: Approximately 4.5 miles south of McLean, TX on Hwy 273. Property lays on the east side of the highway. LEGAL DESCRIPTION: Sections 45 & 46, and 41.13 acres in Section 56, All in Block E, D&P RR Co. Survey, and containing 1,321.13 acres, more or less, Donley County, Texas. ACREAGE: TOTAL: 1,321.

LOCATION: 9047 Oscar Road, Claude, TX -- The Johnson Ranch is located southeast of Amarillo, Texas in Armstrong County. Access is provided by FM 1258, then one mile south on County Road 9. This is approximately a thirty-minute drive from Amarillo. Access to air service is excellent, as the north end of FM 1258 is at the Rick Husband International Airport in Amarillo.

LOCATION: Memphis, TX - go east on SH 256 approximately 4 miles to FM 3032, then south on FM 3032 about 1/2 mile, then west on County Road C for one mile to County Road 28, then about 1/2 mile south on County Road 28 to the northwest corner of the property. LEGAL DESCRIPTION: On file in office. ACREAGE: TOTAL 190+/- CRP 189.7 DRY FARMLAND GRASSLAND TOPOGRAPHY: Rolling grassland.