LOCATION: Hedley, TX - In Hedley, go south from Hwy 287 on Culberson St. (becomes Co. Rd. 25) for 1.25 miles to Co. Rd. X, then west on Co. Rd. X for about 1.5 miles to Co. Rd. 23. This is the northeast corner of the property. Co. Rd. X runs along the north side of the property and Co. Rd. 23 runs along the east side of the property. LEGAL DESCRIPTION: 163.

LOCATION: Quitaque, TX - at the east edge of town, go north on County Road 28 approximately 1.1 miles from Hwy 86. This is the southwest corner of the property. See map. LEGAL DESCRIPTION: The SW/4 and S/2 of the NW/4 of Sec #29, Block 3, T&P RR Co. Survey, SAVE AND EXCEPT a 3.77 acre tract and 7.45 acres of previous railroad property, and containing 228.78 acres, more or less.

LOCATION: Clarendon, TX - go south from Clarendon approximately 6 miles on Hwy 70 to County Road X, then east on CR X 8/10 of a mile to CR 13. This is the northwest corner of the property. Property gate is located about 4/10 of a mile south of this point. LEGAL DESCRIPTION: On file in office. ACREAGE: 593 +/- CRP: 240.5 +/- DRY FARMLAND: GRASSLAND: 352.

LOCATION: Alanreed, TX - go approximately 2 miles south of I-40 on FM 291 to the property entrance. Subject property lays on the east side of the highway. LEGAL DESCRIPTION: The SW/4 and SE/4 of Section 20, Block E, D&P Ry Co Survey, Gray & Donley Counties, Texas. Complete legal description on file. ACREAGE: 319.5 +/- All grassland.