Lazy J Brochure

LAZY J RANCH Offered Exclusively by TABLE OF CONTENTS INTRODUCTION 1 LOCATION & ACCESS 2 PHYSICAL & OPERATIONAL 3 ELEVATION, CLIMATE & PRECIPITATION 4 WATER RIGHTS & MINERAL RIGHTS 5 IMPROVEMENTS 7 ZONING & CONSERVATION EASEMENTS 8-9 FAMILY HISTORY 12 AREA HISTORY 13 RECREATION 14 UTILITIES & SERVICES AND TAXES 15 FENCES & BOUNDARY LINES 15 SUMMARY STATEMENT 16 OFFERING PRICE & CONDITIONS OF SALE 17 STATE OF MONTANA MAP 18 INTRODUCTION In the heart of Bridger Canyon in Southwest Montana, the Lazy J Ranch consists of approximately 5,665 deeded acres of alpine and mountain-meadow land. The Ranch is the largest remaining privately-held block of land in this pristine Rocky Mountain setting. Tucked against the famed Bridger Mountain Range, the Ranch possesses dramatic vistas of the Bridger Mountains and nearby Bangtail Range. It is a comfortable fifteen-minute drive on State Highway 86 (Bridger Canyon Road) to downtown Bozeman. The proximity of the Ranch to a commercial airport, private FBOs and interstate travel within a 25-minute drive make it readily accessible year-round. The secluded trout waters of Bridger Creek course through the core of the Ranch for nearly three miles. This quality alpine-fishing stream hosts healthy populations of brook and rainbow trout. The west side of the Ranch borders the Bridger Bowl Ski Resort and approximately three and a half miles of the Gallatin National Forest, providing unlimited hunting and recreational opportunities. The varied ecosystem of mountains, alpine meadows, and grassy creek bottoms offers prime habitat for an abundance of Rocky Mountain wildlife including elk, mule deer, whitetail deer, bear, mountain lion, moose, and upland game birds. With its size and diversity, the Lazy J Ranch may be one of the finest fishing and big-game hunting properties on the western real estate scene today. A modest set of working improvements, including the ranch manager’s home, a barn, and set of working corrals, are located on the Ranch. Several private and well-situated building sites provide stunning views of the Bridger Mountain Range and Bridger Canyon, affording the next owner the opportunity to design exactly what meets their needs and desires. The Ranch can also provide the next owner simplicity and enjoyment should they choose to lease it to an area rancher for summer grazing of cattle on its productive pastures, as has been done for a number of years. This magnificent mountain ranch has been under the careful stewardship of the James C. Taylor family for over fifty years. The Taylors are gradually winding down their historic Wytana Livestock Company operation. Started by Jim’s father and brother Vernon, Wytana Livestock Company operated expansive commercial cattle ranches throughout Central and Western Montana. Most notable were the Horse Ranch and the Box Elder Ranch near Lewistown, the Pronghorn Ranch near Grass Range, the Vee Tee Ranch in Manhattan as well as the Lazy J Ranch. — 1 — LOCATION & ACCESS The Lazy J Ranch in Bridger Canyon is located ten miles north of Bozeman, Montana, and less than twenty miles from the Bozeman Yellowstone International Airport at Gallatin Field. The northwest corner of the Ranch adjoins the Bridger Bowl Ski Area. Driving from Bozeman to the Ranch, take Montana Highway 86 (also known as Bridger Canyon Road) north into Bridger Canyon. After driving for approximately nine miles, the Lazy J Ranch boundary is situated on both sides of the highway and continues intermittently for the next three and a half miles. BOZEMAN & SURROUNDING AREA Bozeman is a vibrant and active university-oriented city steeped in culture and art. It is home to Montana State University and Museum of the Rockies. The fourth-largest city in the state, Bozeman offers abundant opportunities for fine dining, entertainment venues and shopping opportunities. The scenic drive is under two hours to either the north or west entrances of Yellowstone National Park. Bozeman is proud to maintain its small-town feeling with big-city amenities. Recently upgraded, Bozeman Yellowstone International Airport at Gallatin Field in Belgrade offers several full-service FBOs and excel- lent commercial services through Alaska Airlines, Allegiant, Delta, Frontier Airlines, United Airlines and US Air. The seventh-busiest passenger airport in the Pacific Northwest, Bozeman offers direct flights to over a dozen major airports around the nation. Approximate distances from the Ranch headquarters to other Mon- tana cities and attractions are: Bridger Bowl 4 miles Bozeman 10 miles Gallatin Field 20 miles Big Sky Resort 62 miles Moonlight Basin 65 miles Helena 107 miles Billings 156 miles — 2 — PHYSICAL & OPERATIONAL DESCRIPTION The topography of the Lazy J Ranch is an alpine mountain and valley setting with strong water influences throughout. Bridger Creek flows through the core of the Ranch and an additional six creeks – School Gulch Creek, Stone Creek, Pine Creek, White Creek, Olson Creek and Slushman Creek – flow from the mountain ranges into Bridger Creek. Much of the Ranch contains hills and valleys, providing a diverse landscape. The Lazy J Ranch encompasses approximately 5,665 deeded acres and is generally classified as follows: · 4,075± Acres of Timber and Selectively Harvested Timber Land · 1,487± Acres of Native Pasture and Improved Pasture Land · 103± Acres of Irrigated, Sub-Irrigated Land 5,665± Total Estimated Deeded Acres For the past six years the grazing rights to the Ranch have been leased to an area rancher on a seasonal basis. The Ranch has historically carried between 350 and 400 cow- calf pairs, or around 700 to 750 yearling cattle, from mid- June until the end of October each year. Depending on the moisture levels of the preceding winter and spring, these numbers can minimally adjust. However, the snowpack and precipitation levels in the Canyon typically stay consis- tent. The Lazy J is divided into thirteen individual pastures; a pasture map is available upon request. The pastures are well watered using the native perennial streams and nu- merous developed springs that supply stock tanks scattered throughout the Ranch. Several of the meadows have been hayed sporadically over the years, depending on moisture levels and availability of pasture. These grass hay meadows produce about one and a half tons of hay per acre and provide very good hay for saddle horses during the winter months. The current manager has operated the Lazy J Ranch for the Taylor family for the past eleven years. He has done a masterful job maintaining fence lines, spraying noxious weeds, maintaining structures and serving as a liaison between the tenant rancher and the owners. — 3 — ELEVATION, CLIMATE & PRECIPITATION The elevation gain on the Ranch from the lowest point to the highest elevation is about 1,750 feet. The valley floor of the Ranch sits at 5,350 feet above sea level with the northeastern edge at 7,100 feet. Due to the surrounding mountains, the diverse terrain and the variation in elevation, there are many microclimates within the confines of the Ranch. The average annual precipitation is approximately 22 inches. The average growing season of the area is 96 to 112 days, although these numbers and precipitation levels can vary. The average high temperatures in June, July and August range from 74° to 82° Fahrenheit. In December, January and February, average high temperatures are between 33° and 39°. Summer average minimum temperatures range from 46° to 52°. Winter average minimum temperatures are typically between 14° and 18°. There is plenty of sunshine, with an average of 187 sunny days throughout the year. — 4 — WATER RIGHTS IRRIGATION There are six irrigation water rights, appurtenant to the Ranch, which are currently under lease to Montana Trout Unlimited for instream purposes. The claim numbers, priority dates and the source of the six claims are as follows: Claim No. Source Priority Date 41H-46110 White Creek Dec. 31, 1886 41H-136658 Bridger Creek Aug. 4, 1891 41H-136662 Stone Creek Aug. 1, 1882 41H-136666 Pine Creek June 1, 1899 41H-138725 Olson Creek Jan. 1, 1909 41H-138726 White Creek June 18, 1900 Trout Unlimited has submitted applications to the Montana Department of Natural Resources and Conservation (DNRC) to temporarily change these six claims from irrigation to use for instream flows within each of the specified creeks. The lease from the Sellers to Trout Unlimited is for a period of 10-years from the date the DNRC approves the associated application to change the use to instream purposes. Mont. Code Ann. §85-2-407 provides for temporary changes in use of a water right for period of 10-years, which may be renewed for additional periods of 10-years. DOMESTIC and STOCK According to the Department of Natural Resources and Conservation, the Ranch has currently filed on five domestic water rights on ground water wells and twenty-six stock water rights on streams and springs. A complete list of the Domestic and Stock Water Rights is available upon request through our Bozeman Office. All water rights in Montana are subject to eventual re-adjudication by the Montana Water Court and, as a result of that process, may be changed as to validity, amount, priority date, place of use and other such changes as the Court determines. The Seller has made all of the filings currently required and will transfer the water rights as they currently stand with no warranty of future viability. MINERAL RIGHTS The Sellers will convey with the Ranch 100% of whatever mineral, oil, gas, geo-thermal, hydro-carbon and gravel rights it actually owns, subject to reservations by previous owners. The Sellers make no representation as to the quantity or quality of any mineral or other sub-surface rights appurtenant to the Ranch. — 5 — — 6 — IMPROVEMENTS All of the improvements on the Ranch, including interior and perimeter fencing, are very well maintained.

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