Auctioneers: McCartneys LLP

Gareth Wall MRICS FAAV – Kington
Tel: 01544 230316 or 07974 143 336
Jenny Layton BSc (Hons) MRICS, FAAV – Knighton
Tel: 01547 528621 or 07867 522 859
Matthew Nicholls RICS - Brecon
Tel: 01874 622386 or 07811 521 267
Claire Morgan BSc (Hons)– Kington
Tel: 01544 230316 or 07811 357865
GENERAL INFORMATION

LOCATION:
The auction will be held at
McCartneys Property Office,
54 High Street,
Kington,
Hereford,

TIME OF SALE:
The sale will commence at 6.00pm prompt.

METHOD OF SALE:
All lots will be sold via public auction in £ Sterling and be subject to the Conditions of Sale as presented in this catalogue. The order of sale will be as catalogued and will not be deviated from. Lots will be offered for sale either as a total number of units or will be subdivided into individual units with the option to purchase more of the same lot, at the Auctioneers discretion. In any case where lots are subdivided no less than 5 units of entitlement will remain unsold.

VALUE OF ENTITLEMENTS STATED:
The values are stated as a Gross Unit Value in Euros, as notified by the Welsh Assembly and the Rural Payments Agency and may be subject to Modulation, Validation, and Cutbacks etc.
All Euro rates are stated off 2006 SPS Statements unless stated

TELEPHONE BIDS:
Providing we have prior notification by 1pm on the sale day and are in receipt of a Bankers Draft telephone bids will be accepted. Contact:

Gareth Wall Mobile: 07974 143336

Jenny Layton Mobile: 07867 522859

Matthew Nicholls Mobile: 07811 521267

Claire Morgan Mobile: 07811 357865

BUYERS PREMIUM:
There will be NO Buyers Premium.

COMMISSION BIDS:
Whereby a potential purchaser is unable to attend the sale the auctioneers will be able to bid on their behalf providing that adequate notification has been received and that the purchaser accepts the Conditions of Sale as detailed in this catalogue.

SETTLEMENTS AND CLEARANCE OF ACCOUNTS:
Settlement in full is due to the auctioneers on the day of the sale. Each and every lot must be paid for at the fall of the hammer. Potential purchasers must register at the auctioneers office before a bid can be accepted and obtain a purchasers slip. PROOF OF IDENTITY WILL BE REQUIRED.

PURCHASERS UNKNOWN TO THE AUCTIONEER MUST SUPPLY A BANKERS DRAFT BEFORE PURCHASING. TELEPHONE BIDDERS MUST GIVE THE AUCTIONEERS PRIOR NOTIFICATION BY 1PM ON THE SALE DAY AND SUPPLY A BANKERS DRAFT.

THE CATALOGUE

SECTION 1 : WELSH STANDARD ENTITLEMENTS

Lot No.: 1 Type of Entitlements : STANDARD
Number of Hectare Units : 50
Unit Value in Euros: 162.41 euros
VAT Status : PLUS VAT BR

Lot No.: 2 Type of Entitlements : STANDARD
Number of Hectare Units : 3.65
Unit Value in Euros : 205.46 euros
VAT Status : PLUS VAT KN

Lot No.: 3 Type of Entitlements : STANDARD
Number of Hectare Units : 65.20
Unit Value in Euros : 229.36 euros
VAT Status : PLUS VAT KI

Lot No.: 4 Type of Entitlements : STANDARD
Number of Hectare Units : 30
Unit Value in Euros: 132.92 euros
VAT Status : PLUS VAT BR

Lot No.: 5 Type of Entitlements : STANDARD
Number of Hectare Units : 51.13
Unit Value in Euros : 437.81 euros
VAT Status : PLUS VAT KN

Lot No.: 6 Type of Entitlements : STANDARD
Number of Hectare Units : 20.00
Unit Value in Euros: 212.40 euros
VAT Status : PLUS VAT KN

Lot No.: 7 Type of Entitlements : STANDARD
Number of Hectare Units : 5.5
Unit Value in Euros: 255.27 euros
VAT Status : PLUS VAT KN


Lot No.: 8 Type of Entitlements : STANDARD
Number of Hectare Units : 33
Unit Value in Euros: 158.22 euros
VAT Status : PLUS VAT KI

Lot No.: 9 Type of Entitlements : STANDARD
Number of Hectare Units : 26.86
Unit Value in Euros : 144.13 euros
VAT Status : PLUS VAT KN

Lot No.: 10 Type of Entitlements : STANDARD
Number of Hectare Units : 59
Unit Value in Euros : 265.97 euros
VAT Status : PLUS VAT KN

Lot No.: 11 Type of Entitlements : STANDARD
Number of Hectare Units : 48
Unit Value in Euros : 218.86 euros
VAT Status : PLUS VAT KN



SECTION 2 : ENGLISH NON SDA ENTITLEMENTS

Lot No.: 12 Type of Entitlements : NON SDA
Number of Hectare Units : 8.71
Unit Value in Euros: 272.8 euros
VAT Status : PLUS VAT KI

Lot No.: 13 Type of Entitlements : NON SDA
Number of Hectare Units : 32.31
Unit Value in Euros: 294.38 euros
VAT Status : PLUS VAT KN

Lot No.: 14 Type of Entitlements : NON SDA
Number of Hectare Units : 3.92
Unit Value in Euros: 328.59 euros
VAT Status : PLUS VAT KI


Lot No.: 15 Type of Entitlements : NON SDA
Number of Hectare Units : 10.12
Unit Value in Euros: 764 euros
VAT Status : PLUS VAT KN

Lot No.: 16 Type of Entitlements : NON SDA
Number of Hectare Units : 20.14
Unit Value in Euros: 417.43 euros
VAT Status : PLUS VAT BR

Lot No.: 17 Type of Entitlements : NON SDA
Number of Hectare Units : 26.34
Unit Value in Euros: 205.91 euros
VAT Status : PLUS VAT KI

Lot No.: 18 Type of Entitlements : NON SDA
Number of Hectare Units : 23.99
Unit Value in Euros: 178.20 euros
VAT Status : PLUS VAT KI



SECTION 3: ENGLISH SDA ENTITLEMENTS

Lot No.: 19 Type of Entitlements: SDA
Number of Hectare Units : 1.41
Unit Value in Euros: 5455.5 euros
VAT Status : PLUS VAT KN

Lot No.: 20 Type of Entitlements: SDA
Number of Hectare Units : 3.08
Unit Value in Euros: 76.98 euros
VAT Status : PLUS VAT KI




LATE ENTRIES TO FOLLOW


CONDITIONS OF SALE

These Conditions of sale will apply to all sales conducted by McCartneys LLP either by auction or by private treaty of Single Farm Payment Entitlements without Land. In any event where there is a divergence between these Conditions and the National Conditions of Sale or more recently the Common Auction Conditions then these Conditions of sale as presented will succeed.

1. The Vendor warrants that any information given detailed on their Instruction Form and as described in this catalogue are correct. The Auctioneers accept no liability for any inaccuracy in the details for which remains wholly with the vendor, who will be responsible for any losses and costs incurred by either the purchaser of the Auctioneers.


2. The purchaser as described on the purchasers slip obtained on the sale day guarantees that the information provided is correct and any losses or costs that result from any inaccuracy of this information to the Auctioneers or vendor will be the responsibility of the said purchaser.


3. Full and final settlement for each lot will be made by the purchaser on the day of the sale and the settlement to be paid will be as detailed on the invoice presented to the purchaser. All payments shall be made payable to the Auctioneers, namely McCartneys LLP. NOT UNTIL all funds have been cleared will a transfer application of the entitlements be made. All funds must have cleared by the 23rd March 2008 if an application to transfer entitlements is to be made. Any losses arising out of a delay due to non-payment will be recoverable from the purchaser of who should indemnify the auctioneer and vendor against such losses.


4. The date of the transfer will be 6 weeks after the date of submitting the transfer forms unless either the Welsh Assembly or the Rural Payments Agency (whichever applicable) rejects the transfer and notifies the vendor thereof. The Auctioneers will hold all monies until such time as the Welsh Assembly (WA) of the Rural Payments Agency (RPA) confirm that the transfer from vendor to purchaser has been successful. In a case where either the RPA or the WA rejects a transfer application the Auctioneers will refund the purchaser.


5. In the Case of lots upon which there is a reserve, the Auctioneers shall have the right to bid on behalf of the seller.


6. The vendor Warranties that:
i. They have been granted payment of entitlements under the single farm payment scheme which were duly established from the completion of a 2005 Single Application Form and that all pertinent rules relating to the compliance and transfer of the Single Farm Payment Scheme have been strictly adhered to.
ii. No entitlements received from the National Reserve or restricted by an allocation from the National Reserve are being transferred.
iii. No restrictions or legal obstructions will hinder or preclude the transfer of entitlements.
iv. The “farmer” definition as defined by European Legislation is fully complied with.
v. They are in a position to trade entitlements and satisfy the rules laid down by the WA or the RPA in respect to transferring entitlements, particularly with regard to satisfying the 80 per cent usage rule or alternatively voluntarily given up entitlements that have not been activated to the National Reserve.

7. The Purchaser Warranties that:
i. They are in a position to purchase entitlements as set out in the rules and regulations provided for by the WA or the RPA (whichever applicable).


8. The vendor will indemnify and continue to indemnify the Auctioneers and the purchaser for any losses, costs or claims incurred arising out of any rejection by the Welsh Assembly or the Rural Payments Agency to the transfer of entitlements as a result of an error or mistake made by the vendor in not complying with rules and regulations produced by the WA and RPA.


9. The purchaser will indemnify and continue to indemnify the Auctioneers and the vendor for any losses, costs or claims incurred arising out of any rejection by the Welsh Assembly or the Rural Payments Agency to the transfer of entitlements as a result of an error or mistake made by the purchaser in not complying with rules and regulations produced by the WA and RPA.