For Sale

IX Ranch

$66,000,000 Big Sandy, MT 66,896± Deeded Acres

Executive Summary

The IX Ranch is a legacy ranch – it is huge, has a long history of stable ownership, and a respected reputation in reputation ranch country. Its central Montana location is 80 miles northeast of Great Falls and adjacent to the town of Big Sandy. The current owners are the second owners in the ranch’s 130-year history. This professionally managed operation recently expanded to run a cattle herd of 4,700. The ranch is estimated to carry 3,900 bred females, 180 bulls, 690 yearling heifers, and horses. Until recently, the ranch actually carried a winter herd of around 3,500 bred females, 120 three-year-and-younger bulls, and ranch horses. In 2021 they expanded the rated capacity by another 400 cows, with the addition of another 8,000± acre operating unit. The entire ranch will continue to raise 7,000 tons of winter feed on average. In the spring, around 690 of the previous years’ heifer calves will return to the ranch for breeding from a grow-lot near Billings. The operation covers 134,482± acres, of which 66,896± is deeded, and the majority of the balance being state grazing leases. It is well improved, with accommodations for a full crew including a manager, as well as comfortable quarters for guests. Besides its position as one of Montana’s great cattle ranches, the IX boasts large populations of elk, mule deer, whitetail deer, antelope, mountain lion, and five species of upland birds. It is also a scenic ranch boasting a diversity of habitat types from productive meadows to rolling hills which give way to steeper mountain country with scatterings of aspens and evergreens.

For more Information:
IX Ranch awarded National Best Animal Welfare Ranch (BQA) by National Cattlemen's Beef Association. Click here to view the video.
IX Ranch Webpage
IX Ranch Facebook Page

General Description

Approaching the ranch from the west at Big Sandy, the view is of relatively level cropland between the town and the headquarters. Irrigation water for this land comes out of Big Sandy Creek which flows from the mountains that lie to the northeast and traverses the ranch for over 15 miles, running from east to west. As one moves to the east the land rises to the north and one moves into rolling country which is well watered and provides good protection for livestock. To the north lie the Bears Paw Mountains and to the south lies the slightly more open country which is distinguished by the fact that it is almost entirely State of Montana leased land in one large block actually tying the ranch together. 

As one moves further to the east and south one enters the Eagle Creek drainage which flows more north to south out of the mountains and, together with Dog Creek, which joins Eagle Creek on the south end of this unit, provides irrigation water for this portion of the ranch. This is arguably the most scenic part of the ranch as it actually runs up into the mountains where one finds more scattered timber and aspen groves and it becomes almost alpine in nature. The ranch manager lives here in a beautiful setting nestled into a comfortable valley with views looking out into the vast open lands to the south. This compound also includes a very comfortable home for the ranch’s absentee shareholders. 

Further to the east and south and separated from the main ranch by about six miles, one enters the Birch Creek valley. This unit – known by the brand of its original homesteaders as the “NL” - boasts a reservoir created to store irrigation water for the pivots below. This unit extends into the Sand Creek drainage further to the east. Perhaps not quite as scenic as upper Eagle Creek, the NL is a productive part of the ranch and would represent a significant ranch in its own right were it not a part of the IX. 

Recently the ranch expanded to add 8,170± acres located 30 miles to the northeast of the NL Unit, and 15 miles south of Chinook. This E Hanging T Unit is an efficient all-grass well-watered grazing ranch in its own right.

Broker's Comments

In this broker’s opinion, the IX Ranch is one of the finest ranches in Montana and comes with an accomplished management team. Their predecessors and successors-in-training have a 66-year history of successfully building and improving the ranch. It has balance, diversity and is located in dependable grass country. Some might think that one can enter the market at any time and buy a ranch of this stature. This writer has been selling ranches in Montana for decades and can attest that these only come along once in a generation, if then. It took three generations for the IX to come on the market. For anyone interested in buying one of Montana’s great ranches, this could be the opportunity of a lifetime.

Learn about the locale

Evolution/Ethos

“It reclaims your heart, every single time. It’s how my grandfather felt… grounded, proud and restored.”

It starts with a Mission…

“IX Ranch is a model, multi-generational Montana ranch which produces exceptional quality livestock. IX Ranch is dedicated to long-term value creation for our shareholders, management, employees, and customers. Enlightened utilization and conservation of natural resources and superior economic returns are the primary benchmarks of accomplishment.”   

But it evolves into something so much more…               

Part Working Ranch, part retreat, part time-machine… IX Ranch offers something truly unique in our over-connected, stressed out and entitled society. It’s a salve for your soul, a personal wilderness ecosystem and vehicle to live your legacy. 

IX transports you back to a time when when your word was your bond and taming a piece of the “wild west” meant something. A modern day expression of a pioneering spirit that has never died.

IX reminds us that being the “real deal” isn’t something that you call yourself. It’s what others call you after you earn it over 143 years.

Beyond the Statistics

“It has a pull, a gravity, even from hours away.”

Own a piece of history…

Remember when your word was your bond? It still is today on the IX and can be for your future generations.

Its origin reads like an old tale of how the West was won. It’s a story of everything that is iconic; railroads, small towns, vision, courage, risk and reward.

The ranch’s coveted single-iron IX brand was first registered in Montana in 1877. Ten years later, while Montana was still a territory and the days of open range cattle ranching were clearly numbered, local businessmen C.J. McNamara and Thomas Marlow (McNamara and Marlow) began assembling the bulk of what is now the IX Ranch. They were early in the game and were able to target the strongest grass and critical water resources. They imported the best Hereford genetics from Kansas City, brought Shire draft horses in from Illinois, and also ran Suffolk sheep imported from England. The ranch stayed in their families until long after they had passed away – into the early 1950s. 

William and Theodora Lang of the Hamms brewing company family took up the mantle from the McNamara and Marlow descendants in 1955 and their ranch managers, Art and Audrey Roth, became partners with them in the early 1960s. Four generations have built the IX into what it is today. The new owners will be only the third owners in over 128 years. 

It’s a once in a lifetime opportunity to “stake your claim” and own one of the true “reputation ranches” in Montana.

Recapture your pioneer spirit…

Retrace the steps of Lewis & Clark and other legends, you’re at the epicenter of a living history lesson.

This land saw the early period of open range ranching days (think Lonesome Dove). The ranch and town began in 1887 with the arrival of the St. Paul, Minneapolis & Manitoba Railway (later the Great Northern Railway). Cornelius J. McNamara and Thomas A. Marlow, owners of the McNamara Cattle Company, opened the town's first store and formed the IX Ranch.

Capture the explorer, pioneer and settler spirit found here to propel your next generation into the future.

Below the Surface

“It will capture you, it’s restorative… everything melts away.”

Retreat and restore…

Experience the best of the West.

There are no compromises, everyone’s vision of recreation and restoration is indulged. 

The outdoors person gets to enjoy of one of the most diversified western hunting experiences available on the market today. Big game - 425 elk, 295 mule deer, 300 whitetails, 355 antelope and 39 mountain lions, upland Bird - Hungarian partridge, sharp-tail grouse, and pheasant. That’s when they’re not casting into one of over 53 miles of creeks, ponds and lakes. Fish, fowl or filet… the choice is yours.

How about the adrenaline junkie? How about 50 miles of trails for: ATVS, motorcycles, mountain bikes, snow mobiles and cross country skiing? That should do the trick.

What about the explorer of the family? Got you covered, hike any of the expansive network of trails or blaze your own. Trace the steps of legends and be home for dinner.

What if I want to relax and take it all in? Here’s the secret, you may have figured it out! The sunrises, sunsets and clear night skies have inspired artists, musicians and poets. Every direction on the compass is rewarded. Every vista, every view tells a story for all of your senses. Feel the morning sun on your face, hear the crisp morning breeze. It’s a 360 degree C. M. Russell painting and you’re in it.

Your personal wilderness ecosystem…

How about a wilderness adventure… any time you’d like?

We challenge you to find a better combination of animals, habitats and sustainable feed production. IX boasts elk, mule deer, whitetail deer, antelope, mountain lion, and five species of upland birds. All living together on productive meadows and rolling hills, which give way to steeper mountain country with scatterings of aspens and evergreens. Healthy vegetation and water, all superbly managed and recognized for superior environmental stewardship.

Are you ready to be the envy of even your most “worldly” friends and family?

Returns

“It reminds you of what life was before cell phones and email.”

Remember we said “no compromises”?

What if I told you that it supports itself?

That’s part of what it means to be one of the last of the great “reputation ranches”. IX Ranch is one of a unique category of ranches called a “Hybrid” - Retreat and Working ranch. It features an impressive diversity of revenue sources and a dependable feed base. A professionally managed operation runs a cattle herd of 4,300 so well that they have always made a profit…never in debt.

So ask yourself… You ranching “with” money or “for” money?

A Culture/Philosophy of Excellence

“It’s just how things are done… Can’t manage what you don’t measure.”

You don’t earn the title of “reputation ranch” without a clear and hardworking culture and philosophy of excellence. Modern technique meets tradition to produce the definition of a "properly run" ranch. The combination of the voices of 3 generations of ranchers and a tireless work ethic, yields an unparalleled pride of ownership. 

It’s the perfect place to raise your children/grandchildren while instilling timeless lessons of respect and stewardship.

Lessons of the Land

“I feel so grounded when I’m here…”

A “living legacy”…

This is truly rarefied air. Very few get the opportunity to be part of what they build… of what they leave behind. IX Ranch embodies the tradition and values to cure the ills of modern day life. Expose your children and their children to the iconic principles that conquered the West.

5 Values I Learned On The Ranch

1.   Responsibility – At the ranch, you care for your animals before yourself. Cattle don’t care what holiday it is or where you need to be, they have to eat. These animals are our livelihood and it’s our responsibility to care for them before we worry about anything else. Along with responsibility comes time management. I knew that I had to be ready for school and have the steers fed before the bus got to our house.

2.   Respect – There’s an endless amount of ways to learn respect on a cattle ranch. Respect includes anything from doing what your father tells you (the first time he asks) to understanding that herd bulls are bigger than you, and won’t always go where you want. If you respect your animals, they’ll respect you. The cattle return his respect because he never treats them poorly.

3.   Integrity –The importance of being honest and doing the right thing, especially when no one is around to see it, was burned into my mind as that steer I said I’d trained but hadn’t showed my questioning mother how much time we hadn’t spent together.

4.   Compassion – I grew up riding in the passenger seat of the ranch pickup, watching dad care for hurt animals and help newborn calves. When I got big enough, helping these animals became part of my responsibility. It was sometimes confusing as a young child to see an animal in pain or a calf that needed extra help. There were plenty of cold winter nights spent in the barn helping calves nurse or giving extra attention to sick ones. Learning how to truly care for something else might be the best thing I learned on the ranch.

5.   Work Ethic – There’s always something that needs to be done on a farm or ranch. When I got home from school, I had a list of chores to be done before dark. On weekends, while my friends slept in, I was up working cows in time to be done before we had to be at the school for a sporting event. When I’d get home, there were nighttime barn chores. It’s important to learn how to get things done and work hard to accomplish goals. My friends always thought that it must’ve been horrible to work this hard—what do you mean you don’t sleep until noon on Saturday?! But it’s rewarding to know that you’re contributing to the productivity and success of an operation. Those of us that grew up in agriculture don’t know lazy, it’s not how we were raised.

“IX is irreplaceable, I’ve got 57 years of feelings and memories.”

Broker Insight:

In this broker’s opinion, the IX Ranch is one of the finest ranches in Montana. Some might think that one can enter the market at any time and buy a ranch of this stature. I’ve been selling ranches in Montana for decades and can attest that these only come along once in a generation. It took three generations for the IX to come on the market. 

For anyone interested in buying one of Montana’s great ranches, this is the opportunity of a lifetime.

Is it time to write your next chapter?

Location

The ranch office is located in the small town of Big Sandy, Montana which lies 80 miles northeast of Great Falls and 35 miles southwest of Havre on U.S. Highway 87. The ranch stretches for nearly 30 miles from Big Sandy to the east and south. The nearest commercial air service is located in Havre, a 20-minute drive from the ranch, and has two daily flights from Billings. Great Falls is serviced by Delta, Alaska and United Airlines with multiple daily flights. Private aircraft can land on the edge of the ranch at the Big Sandy public airstrip. It boasts a paved and lighted runway of 3,570 X 60 feet at an elevation of 2,689 feet. A 20-minute drive from the ranch, Havre has a 5,205 X 100 foot paved and lighted airstrip at 2,580 feet in elevation, with approach procedures and jet and avgas fuels. Big Sandy is an attractive small town with a 2012 population of 610, which lists over 40 active businesses as well as a Critical Access Hospital and both grade and high schools. 

Locale

The IX lies in one of Montana’s reputation ranching areas, which is south of the Bears Paw Mountains. This is an area of good-sized ranching operations where ranches rarely change hands and smaller ranches are more often than not absorbed by larger family ranches when they do come on the market. Bottom line: this is true ranching country where the traditions of hard work and good neighbors remain intact. It is an area that has much of the scenery and amenities of the Greater Yellowstone Ecosystem located south of Interstate 90, but the values here are more closely tied to traditional farming and ranching.

Climate

The ranch headquarters near Big Sandy lies at an altitude of 2,700 feet above sea level. Like most of Montana, precipitation increases as the altitude goes up but ranch records indicate that precipitation generally has run between 12 and 14 inches over the last 40 years. Records are kept at the lower end of the ranch. Historically it has taken one to one-and-a-half tons of hay to winter an animal unit. Weather can vary dramatically with some winters being open allowing for cattle to graze out and other winters requiring more hay. The growing season is estimated at 120 days. The Western Regional Climate Center published the following statistics for the 1921 to 2005 period for Big Sandy which would be considered to have the mildest climate of the ranch:

• Average maximum temps - July 88 degrees; August 86 degrees
• Average maximum temps - December through February, 28 to 34 degrees
• Average annual snowfall of 18.79 inches with average snowfall depths under 2 inches in every month of the winter

On average, the IX has a good long grazing season and an adequate growing season to produce two cuttings of alfalfa hay under pivot irrigation. With wind, chinooks, and light winter precipitation, livestock wintering costs are believed to be modest by Montana standards. 

History

The ranch’s coveted single-iron IX brand was first registered in Montana in 1877.  Ten years later, while Montana was still a territory and the days of open range cattle ranching were clearly numbered, local businessmen C.J. McNamara and Thomas Marlow (McNamara and Marlow) began assembling the bulk of what is now the IX Ranch. They were early in the game and were able to target the strongest grass and critical water resources. They imported the best Hereford genetics from Kansas City, brought Shire draft horses in from Illinois, and also ran Suffolk sheep imported from England.  The ranch stayed in their families until long after they had passed away – into the early 1950s. 


William and Theodora Lang of the Hamms brewing company family acquired the IX from the MacNamara and Marlow descendants in 1955 and their ranch managers, Art and Audrey Roth, became partners with them in the early 1960s. Four generations have built the IX into what it is today. As current ranch company President Steve Roth stated in a recent report to the shareholders, “we have been blessed with a family of owners who have asked very little and, by so doing, have given much more.” He also stated in that report, “The ranch has been fortunate to hire individuals who are young, smart, and full of energy.” It is not an unusual story for one of Montana’s reputation ranches. Most ranches like the IX stay in the family and the ownership transcends the generations. It is very unusual to have a ranch of this caliber offered for sale. The new owners will be only the third owners in over 128 years. 

Learn more about the property

Acreage (Deeded & Leased)

The leased acreage is primarily rangeland so the following breakdown is of the deeded acreage only:

  • Pivot Irrigated 1,083
  • Flood Irrigated 3,299
  • Hay Meadows 834
  • Dry Cropland 4,215
  • Forested 2,006
  • Native Rangeland 50,430
  • Building Sites 40
  • Total 66,896

Deeded Acres: 66,896±
State Leased Acres: 40,224±
Private Leased Acres: 17,835±
BLM Leased Acres: 9,527±
Total Leased Acres: 67,586±
Total Acres: 134,482±

Additional Information

Animal Welfare - Low-Stress Cattle Handling on the IX Ranch

IX Ranch awarded National Best Animal Welfare Ranch (BQA) by National Cattlemen's Beef Association. Click here to view the video.

Improvements

With the guiding principle of putting the land, cattle and employees first, the building improvements on the IX support the cattle and employees. They are sound, appropriate and good-looking, but there are no large expensive homes.

The ranch’s four operating units each have building compounds. Each is complete with one or more residences, barns, workshops and corrals. Two of the corrals include state-certified scales. Two of the compounds are served with natural gas, and all have buried fiber optic cable providing telephone and Internet. In all, there are a total of six single-family residences, four bunkhouses, a cookhouse, four sets of corrals, (two with certified scales), four horse barns, and four workshops.  In 2015 a new 1,050± sq. ft. modular home with a finished basement replaced an older foreman’s house on the Seifert Unit and again in 2016 another new house replaced the foreman’s home at the NL headquarters.

The Eagle Creek compound includes the ranch manager’s and owner’s homes. The owner’s home was built in 1972 and has four bedrooms, three baths, approximately 2,754 square feet of living area, two stories and a wood frame with stucco exterior wall finish. It has a wood-burning stack fireplace and is heated with a natural gas, central forced-air furnace. The landscape irrigation sprinkler system is underground.

The manager’s home was originally built in 1900 and has since been extensively remodeled. Its two-story wood frame and exterior board siding harbor approximately 5,128 square feet of living area, seven bedrooms and four baths. It too is heated with a natural gas, central forced-air furnace. It includes a wood-burning stack fireplace, basement and attic. Underground sprinklers irrigate the lawns around the home as well as the adjoining swimming pool and tennis court.

Water Rights

IX Ranch has numerous stock water and irrigation water right claims which have been filed in accordance with Montana’s adjudication and permitting requirements.  The claims are situated in Water Basins 40H and 41T.  There are 107 claims related to stock water rights and 54 which relate to irrigation rights.  The water rights for the ranch are from Big Sandy Creek, Eagle Creek, Dog Creek, Birch Creek and tributaries to these sources.  The priorities of the IX Ranch’s rights date back as early as 1887 and 1888 as adjudicated by the Montana Water Court as part of the statewide adjudication of water right claims.  The irrigation systems associated with the ranch’s irrigation rights include direct diversion and storage reservoirs which serve approximately 4,382 acres under irrigation, of which approximately 1,083 are under pivot systems and 40 acres under wheel-line sprinkler. The estimated storage capacity of the two irrigation reservoirs, Birch Creek and Seifert, are 292 acre-feet and 1,005 acre-feet, respectively. A complete tabulation of the ranch’s water rights is available from the offices of Hall and Hall, or the Montana Department of Natural Resources and Conservation’s centralized water rights database.

Mineral Rights

The ranch believes it owns the majority of the mineral estate underlying the ranch lands, although no mineral report has been obtained by the ranch to definitively describe the mineral estate. All minerals owned by the ranch will transfer to the new owner. There are five producing natural gas wells on the ranch, the leases for which produce royalties of some $3,200 annually. Their location is concentrated in the Dog Creek area, within the Eagle Creek management unit, in the north central part of the ranch. 

Learn about the recreational amenities

Wildlife Resources

Located in the coveted Bear Paw Mountains, the IX Ranch represents one of the most diversified western hunting experiences available on the market today. The ranch has all the things needed for trophy game populations including quality management, diversified habitat and excellent genetics.   

The IX Ranch is in a trophy management unit and qualifies for Landowner preference. The unit is known to be one of the best trophy elk hunting units in the country, with bulls being taken over 400 BC.
  
In addition to trophy elk, the IX Ranch offers tremendous deer hunting, with whitetails scoring over 165 BC and Mule Deer over 180 inches.  The Ranch has good populations of antelope, mountain lions, and bears, along with some of the best prairie dog hunting in the country.  The upland bird hunting is exceptional with high populations of Hungarian partridge, sharp-tail grouse, and pheasant.

The big game populations on the ranch stand at approximately 425 elk, 295 mule deer, 300 whitetails, 355 antelope and 39 mountain lions.  Last year the big game harvest included 16 elk, 15 mule deer, 13 whitetail deer, 6 antelope and 4 mountain lions.  Just south of the ranch, on BLM land, the world record archery Rocky Mountain ram was harvested in 2012.  There is tremendous opportunity to take the IX Ranch to the next level, making it one of the finest hunting experiences in the country.

Learn about the general operations

General Operations

Diversity of revenue sources and a dependable feed base are keys to a successful ranch operation, and the IX offers both. The 4,200± acres of dryland cropland provide income from the sale of an average range of 85,000 bushels of winter wheat annually along with the many benefits of aftermath grazing and straw production. Hay production generally exceeds the ranch’s current needs. The ranch typically plans to go into the winter with at least 5,000 tons of hay to cover both average feed requirements as well as a goal of 1,200 tons excess for reserves. The 10-year average annual hay carryover is 1,444 tons. With the pivot sprinklers generally producing over four tons to the acre on good alfalfa stands, other fields produce more or less depending on the year and upon the chosen method of harvest. The ranch has produced over 8,000 tons of hay in a particularly good moisture year and averages 7,000 tons. This has allowed in recent years for hay sales of 800 to 3,200 tons. Hay is produced at locations from one end of the ranch to the other allowing livestock to stay well dispersed on the ranch.   


Some cattle operations ranch with money. The IX ranches for money. Through 2020, the adjusted five-year average net income, calculated on the basis of EBITDA, was over $1.6M. As stated by the ranch’s president, accomplishing this significant feat came from keeping priorities straight: care first for the land, next the cattle, and third the employees.

Ranch management believes that the IX Ranch is well regarded as one of the most sophisticated commercial cattle operations in the state. The ranch attempts to employ the most up-to-date and well-thought-out operating scenarios in all aspects of the livestock operation. 


The grazing resource is intensively managed utilizing a rest/rotation system that is adapted to the local conditions. Pastures and portions of the ranch are rested in rotation, and other areas are more intensively grazed. Cattle are moved each year in a manner that allows pastures to be grazed at different times each year. At 100% of rated capacity, the grazing resource should produce around 42,240 AUMs of grazing each year. Based upon a nine-month grazing season, this would allow 4,693 cows, or their equivalent, to graze for the season. Additionally, the ranch produces hay for winter feeding. Based upon a 20-pound-per-day hay ration, less than 4,000 tons of hay would more than comfortably carry this number of livestock, or their equivalent, for the average 90 days of winter feeding. Annually this leaves an additional average of 1,900 tons of the ranch’s hay production available for sale.


Practically speaking, the ranch utilizes these animal units of capacity in the following manner. Grazing the resource in the ranch’s conservative, sustainable, take half-leave half manner, the IX is now expecting to go into winter with just under 3,900 bred females. Around 2,300 head of the ranch’s weanling heifer and retained steer calves will be conditioned in a grow lot near Billings during the winter. They will then be sorted with around 690 replacement heifers returning to the ranch in March. The balance are sold, generally in February, depending on range conditions and market values. This will allow the ranch to market animals at different points throughout the year and potentially take advantage of favorable market conditions. Having a good winter feed base is critical to allow this beneficial activity.


Ranch management believes that it has consistently maximized its genetic potential both by using top-quality bulls and by occasionally buying high-quality replacements when they become available.


It should be noted that the grain operation is contracted out to farmers in the area who have the equipment and knowledge to maximize production.

Leases and Permits

State Leases –The IX Ranch holds 25 separate State of Montana leases totaling 40,224± acres, rated at 11,492 animal unit months (AUMS) of grazing. These are school trust lands set aside to provide income for the public schools in the state. Except for a few scattered sections, these lands have been consolidated into five separate large tracts. The IX has worked cooperatively with the state to manage these tracts in a productive way to maximize carrying capacity while maintaining the grazing resource in good condition. Management of the recreational resource is simplified as the public is allowed to access these areas, without crossing private lands, by either foot or horseback, and the balance of the ranch is managed privately. Annual cost is based upon the rated AUMs and is derived from a complex formula that takes into account input from the tenant in the area of fire suppression, weed control, water development, fencing, etc., as well as the previous year’s cattle prices. In 2021 the cost is $159,023.


BLM Permits –  Like the majority of the state leases, the BLM lease, which calls for 912 AUMs, is primarily in one block on the NL Unit. The BLM lease cost for 2021 is $2,026.


Private Leases – These leases, in general, are market leases that allow the ranch to distribute the fixed operating costs over more animal units at a price that allows the ranch to make additional profits. There are five of them. They include approximately 17,835 acres and are conveniently accessed from the main body of the ranch. The largest two of them total 17,500± acres and have been leased by the IX for the past 15-35 years. Their total AUMs are 8,000 and cost $175,000. The ranch also leases out the grazing on one of its pastures to another cattleman. It does not fit the IX operation well. This lease agreement is for 1,100 AUM’s, with annual revenue to the IX Ranch of $39,518.


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Terms

Sellers will only sell the ranch turnkey, including livestock, equipment, vehicles, feed, and supplies on hand. To that end, within ten business days of an acceptable offer on the ranch, they will provide a complete list of the personal property and a proposed sale price for negotiation. The real estate sale can be made subject to a satisfactory agreement for the purchase of the personal property.

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