SOLD: Boulder River Vista | Fay Ranches

B OU L DER R I VER VI S T A Big Timber, Montana $2,125,000 | 773 ± Acres

Boulder River Vista | McLeod, Montana

INTRODUCTION Sitting over the top of the Boulder River Valley, the Boulder River Vista offers productive grazing land, jawdropping views and significant recreational opportunities. The property does not have any improvements and it is not protected by a conservation easement, therefore it is a blank canvas. Pair these attributes with an excellent location, only 20± minutes south of Big Timber, MT and 90± minutes from Bozeman and the Boulder River Vista emerges as an excellent opportunity for a wide array of investors.

ACREAGE The Boulder River Vista is 773± acres of native grass, sagebrush hillsides, speckled timber, almost 1 mile of Susie Creek frontage in its northeast corner, and expansive views of the striking Boulder River Valley.

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LOCATION Boulder River Valley The property is located just outside McLeod, MT, which lays claims to a post office, a school, and about 20 people. Robert Redford’s, The Horse Whisperer, shows off the valley’s scenic beauty. The Boulder River will take you for a ride through wild country flanked by towering mountain peaks and lush ranch land. From its confluence with the Yellowstone River at Big Timber, the Boulder River can provide excellent recreational opportunities as it dashes through the valley floor after it originates in the Absoraka Beartooth Wilderness, where Granite Peak, the highest mountain in Montana, calls home. The upper section of the river is a fast mountain stream holding Class III and Class IV whitewater that provides the fly angler with pools filled with hungry trout and the Kayaker with miles of excitement. Eventually, the river flows through the Natural Bridge Monument. This feature garners its name due to the river disappearing entirely in a large mass of rocks and then re-appearing one hundred feet later in two distinct waterfalls that cascade down more than one hundred feet. Below Natural Bridge, the current of the river slows as it passes through hayfields before reaching its confluence with the Yellowstone River.

Big Timber, Montana Sitting on the valley floor at the confluence of the Yellowstone and Boulder Rivers, and about a 20± minute drive north of the ranch, is Big Timber. A century ago, Big Timber was a railroad center that became the world’s sheep ranching capital, shipping more wool than any other U.S. city at the time. Today it is dedicated to agriculture and trout and remains a throwback to a simpler time where livestock far outnumbers people and western hospitality still rings true. It offers an iconic hotel and restaurant, The Grand Hotel, as well as a variety of small shops, a wonderful bakery and coffee shop, art galleries, antique stores, a Carnegie Library, a fly shop, a supermarket and a hardware store.

Livingston, Montana A scenic 45± minute drive from the Castle Creek property is Livingston, MT. As the seat of Park County it boasts a population of 7,500± people Rich in history and noted in western journals as a rowdy, western town it was once filled with characters such as Calamity Jane and Kitty O’Leary and at one time was the historic home of the Mountain Crow Indians. Today, Livingston is the gateway to the Paradise Valley and Yellowstone National Park. This beautiful town supports numerous art galleries, a wine cellar, a bookstore, 2

Boulder River Vista | McLeod, Montana

a restored McKim, Mead, White railroad depot, gourmet restaurants, theaters, fly shops, and a variety of antique stores all packaged into a well-preserved historical district. The world-famous Yellowstone River rushes past town and is at the heart of the community’s spirit.

Bozeman, Montana Approximately 1 hour and 15 minutes west of the property is the vibrant university town of Bozeman (pop. 45,250) home to Montana State University. In recent years Bozeman, which also is proud of its Museum of the Rockies, has received national accolades for its scenic location, limitless outdoor activities and historic downtown. The cafes, restaurants, and boutiques have become favorite places for those who love nature-- whether fishing, hunting, skiing, mountain biking, or hiking.

Bozeman has been singled out as one of the best towns in the US to live in by Outside Magazine, Entrepreneur Magazine, CNN Money, National Geographic Adventure Magazine and www.

Livability.com.

GETTING THERE Big Timber is served by a small private airfield with a 5,290’ runway situated at 4,489’ in elevation http:// www.airnav.com/airport/6S0.

29± miles west of Big Timber is Mission Field Airport in Livingston, which has an FBO and a 5,700’ paved runway suitable for those traveling privately https:// www.airnav.com/airport/KLVM The Bozeman/Yellowstone International Airport, 70± miles west of Big Timber, is Montana’s busiest airport and the hub for those traveling to southwest Montana.

The airport is served by Alaska, Allegiant, American, Frontier, Delta, JetBlue and United Airlines. See the map above with direct fligth options.

Downtown Bozeman, Montana

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AREA ATTRACTIONS Yellowstone national park An approximate hour and a half drive from the ranch is the North Entrance to Yellowstone National Park. The north entrance through the Roosevelt Arch allows access to many more fishing opportunities and even more National Forest.

Elk, bighorn sheep, mule and white-tailed deer, coyotes, wolves, pronghorn antelope, bald and golden eagles, moose, mountain goats, black and grizzly bears, and an array of less obvious but no less remarkable animals find suitable range and habitat in the Park. The great variety and populations of rare and endangered wild-life species speak to the wildness and unspoiled nature of this amazing place.

Red Lodge & Beartooth Highway 85± miles southeast of the ranch is a quaint and historic mountain town and the gateway to Yellowstone Park via the beautiful Beartooth Highway. Nestled against the Beartooths, Montana’s highest mountain peaks, Red Lodge is a place of extraordinary beauty and, wherever you turn, real smiles, genuine warmth, and welcoming, western-style hospitality.

Heralded as one of the most scenic drives in the United States, the Beartooth Highway, a National Scenic Byways AllAmerican Road, features breathtaking views of the Absaroka and Beartooth Mountains, and open high alpine plateaus dotted with countless glacial lakes, forested valleys, waterfalls, and wildlife.

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Boulder River Vista | McLeod, Montana

Roosevelt Arch, Gardiner, Montana

CLIMATE MAP: BIG TIMBER, MT

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RECREATION Hunting Boulder River Vista is located in Hunting District 560. The unit is a general draw for Elk and Deer and runs south of Big Timber, including the entire Boulder River drainage up into the Absaroka-Beartooth Wilderness. With approximately 60% of the unit being made up of National Forest, there is ample hunting opportunity with rising elk numbers and some high-quality bulls.

The archery season is a great time of year to be out in the field in this unit, primarily for chasing screaming bulls. The rifle season in unit 560 will likely provide the best opportunity for a quality mule deer, as it aligns with the peak of the mule deer rut.

The additional big game that exists on the Boulder River Vista includes Black Bear and the occasional Pronghorn Antelope. In addition to big game, sage and mountain grouse can be found on the property for the upland bird hunter. If you would like to learn more about the non-resident draw process, read our blog, applying for a non-resident elk tag in Montana.

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Boulder River Vista | McLeod, Montana

Fishing Minutes from the property, the West Boulder, Main Boulder and East Boulder Rivers confluence near McLeod, MT to form the Boulder River which continues for 20 more miles before flowing into the Yellowstone River near Big Timber, MT. The fishing season begins on the nearby Boulder River in late March/early April. The first hatch is the Mother’s Day Caddis Hatch. Right around the same time Blue-winged olives and golden stoneflies also emerge during this pre-runoff bonanza. A yellow stimulator or elk hair caddis is the fly of choice during this time and can provide tremendous dry fly action.

Caddis continue throughout the summer and a high floating attractor pattern will remain productive throughout these warmer months. Hoppers become the dry fly of choice on hot, sunny days starting in Boulder River, photo not from property August. The hopper fishing lasts through September and is very similar to and just as much fun as the salmon fly hatch, except it lasts two months instead of a week. Hopper fishing is arguably the most enjoyable way to catch trout on a fly rod and the river has some of the best hopper fishing available anywhere.

Yellowstone National Park is the birthplace of many of the finest trout rivers in the West. Headwater streams such as the Gibbon, Firehole and Lamar create rivers such as the Madison and Gallatin within its boundaries. The park hosts a lifetime of fishing opportunities with over a hundred lakes and a thousand miles of streams. Nowhere in the world are so many public rivers and streams found within such a small area.

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Other Recreational Pursuits With easily navigable roads and two-track trails on the property, one can enjoy activities such as mountain biking, riding ATVs, snowmobiling and even trail running on the 773± acres. Whether you choose to stay on the property or venture off to explore the surrounding area and nearby public land…recreational opportunities abound.

Skiing

The Ridge at Bridger BBowl

Bridger Bowl Ski Area: Bridger Bowl Ski Area is a tremendous asset of the southwest Montana community. 64± miles from Big Timber, Bridger Bowl offers an intimate atmosphere where tickets are affordable, lift lines are short, people are friendly and the skiing is fantastic. A total of eight lifts service 1,500± skiable acres with a 2,600-foot vertical drop. Three lodges give skiers plenty of room to warm up and refuel. Learn more about skiing Bridger Bowl at www.bridgerbowl.com.

Red Lodge Mountain: Just two hours from the property is Red Lodge Mountain. One of Montana’s favorite ski areas, which still is a bit of a secret, the mountain provides great skiing without big crowds. With 6 chair lifts, a 2,400-foot vertical drop and 1,635± skiable acres, Red Lodge Mountain is worth the trip.

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Boulder River Vista | McLeod, Montana

IMPROVEMENTS The Boulder River Vista is a blank canvas, there are no improvements on the property.

PRODUCTION A lessee currently utilizes the property to graze cattle for a portion of the year.

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WATER RIGHTS Montana waters, in all their varied forms and locations, belong to the State for the benefit of its people. A water right is the right to use the water within state-established guidelines, and not any ownership of the water itself. Since water rights in Montana are guided by the prior appropriation doctrine, a person’s right to use a specific quantity of water depends on when the use of water began, establishing the relative priority date of use on the water source. The first person to use water from a source established the first right, the second person could establish a right to the water that was left, and so on. Additionally, water users are limited to the amount of water that can be beneficially used. Beneficial use includes, but is not limited to, agricultural, recreational, fish and wildlife and domestic purposes.

Montana is currently conducting a statewide adjudication of all water rights with priority dates prior to July 1, 1973. The statewide adjudication is a court process that prioritizes and quantifies all existing water rights in each Montana drainage basin. With eighty-five basins in Montana, and over 219,000 water right claims, the statewide adjudication is a massive undertaking that is expected to stretch well into the future. Until the adjudication process is complete, the status of any particular water right claim cannot be guaranteed.

Fay Ranches, Inc., its brokers and salespersons do not warrant or make any representation concerning the quantity or quality of any water rights, nor any legal entitlement to use of water rights, permits to appropriate water, exempt existing rights, determination of existing water rights, nor any ditches, ditch rights, or ditch easements appurtenant to or constituting a burden on the property. Water rights claims appurtenant to the property may or may not have been fully or finally adjudicated, and any Buyer is advised to make any offer to purchase contingent upon and subject to such independent inspections, evaluations, and advice concerning the water rights and adjudication process as a Buyer might deem prudent. All Buyers should be aware that Fay Ranches, Inc., its brokers and salespersons involved in this offering have not conducted an expert inspection or analysis of the water rights for this property.

MINERAL RIGHTS All mineral rights appurtenant to the property and owned by the Seller will convey to the Buyer at closing.

Mineral rights are not guaranteed. It is suggested that the Buyer conduct a mineral search with a title company.

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Boulder River Vista | McLeod, Montana

www.fayranches.com | (800) 238.8616 | info@fayranches.com

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Boulder River Vista | McLeod, Montana

www.fayranches.com | (800) 238.8616 | info@fayranches.com

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CONSERVATION EASEMENT The Boulder River Vista does not have a Conservation Easement, the new owner will have an excellent opportunty to explore protecting this beautiful ranch into perpetuity.

Each of us at Fay Ranches has a love of the land and a desire to see it remain as productive agricultural ground as well as quality fish and wildlife habitat. Through promoting the use of thoughtful land stewardship, Fay Ranches has guided owners toward a legacy of conserving wide-open spaces, enhancing and creating fisheries and wildlife habitat and implementing sustainable agricultural operations. Fay Ranches is proud to say that since our company began in 1992, the landscape on which we work has been significantly enhanced by the conservation ethic and land use practices of our clients.

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Boulder River Vista | McLeod, Montana

SUMMARY The 773± acre Boulder River Vista offers productive rangeland with additional recreational opportunities such as big game hunting, upland bird hunting, ATVing and mountain biking. Thousands of acres of public land are nearby and minutes from the property is the Boulder Forks fishing access on the Boulder River, providing an ideal fly fishing venue. The property is extremely private, yet sits only 20± minutes away from small-town conveniences of Big Timber, MT. Additionally, the vibrant town of Bozeman, MT and its international airport are within 90± miles of the property.

From its productive land, recreational opportunities, and gorgeous Boulder River Valley views, the Boulder River Vista is an attractive purchase opportunity located in a highly desired Montana location.

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QUICK FACTS • 773± deeded acres • .9± Susie Creek frontage • Expansive views of the Boulder River Valley • Minutes to the Boulder River and the Boulder Forks fishing access • Situated in the Boulder River Valley, conveniently located 20± minutes north of Big Timber, MT and 90± miles from Bozeman, MT. • Located in general draw Hunting District 560 • The property is not protected by a conservation easement • No improvements

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Boulder River Vista | McLeod, Montana

PRICE $2,125,000

TERMS Cash

CONTACT Please call Greg Fay (406) 586-4001, Ryan Bramlette (406) 580-9569 or Ileana Delaney (406) 580-1973 to schedule a showing. This is an exclusive co-listing with Fay Ranches, Inc and Delaney and Company. An agent from Fay Ranches or Delaney and Company must be present at all showings, unless otherwise noted or other arrangements are made. To view other fly fishing properties and sporting ranches that we have listed, please visit our web page at www.fayranches.com.

NOTICE Offer is subject to errors, omissions, prior sale, change or withdrawal without notice, and approval of purchase by owner. Information regarding land classification, carrying capacities, maps, etc., is intended only as a general guideline and has been provided by the owners and other sources deemed reliable, but the accuracy cannot be guaranteed. Prospective purchasers are encouraged to research the information to their own satisfaction. www.fayranches.com | (800) 238.8616 | info@fayranches.com

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RELATIONSHIPS IN REAL ESTATE As required by Montana law, a broker or salesperson shall disclose the existence and nature of relevant agency or other relationships to the parties to a real estate transaction. The various relationships and description of duties are as follows: 1. SELLER AGENT A “Seller Agent” is obligated to the Seller to: • Act solely in the best interests of the seller; • Obey promptly and efficiently all lawful instructions of the seller; • Disclose all relevant and material information that concerns the real estate transaction and that is known to the seller agent and not known or discoverable by the seller unless the • information is subject to confidentiality arising from a prior or existing agency relationship on the part of the seller agent; • Safeguard the seller’s confidences; • Exercise reasonable care, skill, and diligence in pursuing the seller’s objectives and in • complying with the terms established in the listing agreement; • Fully account to the seller for any funds or property of the seller that comes into the seller agent’s possession; and • Comply with all applicable federal and state laws, rules, and regulations.

Montana law permits a real estate agent, after providing written disclosure to a seller and obtaining a seller’s written consent, to represent multiple sellers of property and to list properties for sale that may compete with the seller’s property, without breaching any obligation to the seller.

A “Seller Agent” is obligated to the Buyer to: • Disclose to a buyer or the buyer agent any adverse material facts that concern the property and that are known to the seller agent, except that the seller agent is not required to inspect the property or verify any statements made by the seller; • Disclose to a buyer or the buyer agent when the seller agent has no personal knowledge of the veracity of information regarding adverse material facts that concern the property; • Act in good faith with a buyer and a buyer agent; and • Comply with all applicable federal and state laws, rules, and regulations.

BUYER AGENT A “Buyer Agent” is obligated to the Buyer to: • Act solely in the best interests of the buyer; • Obey promptly and efficiently all lawful instructions of the buyer; • Disclose all relevant and material information that concerns the real estate transaction and that is known to the buyer agent and not known or discoverable by the buyer, unless the • information is subject to confidentiality arising from a prior or existing agency relationship on the part of the buyer agent; • Safeguard the buyer’s confidences; • Exercise reasonable care, skill, and diligence in pursuing the buyer’s objectives and in • complying with the terms established in the listing agreement; • Fully account to the buyer for any funds or property of the buyer that comes into the buyer agent’s possession; and • Comply with all applicable federal and state laws, rules and regulations.

• Montana law permits a real estate agent, after providing written disclosure to a buyer and obtaining a buyer’s written consent, to represent multiple buyers interested in buying the same property or similar properties to properties in which a buyer is interested and to show properties in which a buyer is interested to other prospective buyers, without breaching any obligation to the buyer.

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Boulder River Vista | McLeod, Montana

2. BUYER AGENT (cont) A “Buyer Agent” is obligated to the Seller to: • Disclose any adverse material facts that are known to the buyer agent and that concern the ability of the buyer to perform on any purchase offer; • Disclose to the seller or the seller agent when the buyer agent has no personal knowledge of the veracity of information regarding adverse material facts that concern the property; • Act in good faith with a seller and a seller agent; and • Comply with all applicable federal and state laws, rules and regulations.

• 3. DUAL AGENCY If a seller agent is also representing a buyer, or a buyer agent is also representing a seller with regard to a property, then a dual agency relationship may be established. In a dual agency relationship, the dual agent is equally obligated to both the seller and the buyer. These obligations may prohibit the dual agent from advocating exclusively on behalf of the seller or buyer and may limit the depth and degree of representation that you receive. A broker or a salesperson may not act as a dual agent without the signed, written consent of both the seller and the buyer.

A “Dual Agent” is obligated to a Seller in the same manner as a seller agent and is obligated to a Buyer in the same manner as a buyer agent, except a dual agent: • Has a duty to disclose to a buyer or seller any adverse material facts that are known to the dual agent regardless of any confidentiality considerations; and • May not disclose the following information without the written consent of the person to whom the information is confidential; • The fact that the buyer is willing to pay more than the offered purchase price; • The fact that the seller is willing to accept less than the purchase price that the seller is asking for the property; • Factors motivating either party to buy or sell; and • Any information that a party indicates in writing to the dual agent is to be kept confidential.

4. STATUTORY BROKER A “Statutory Broker” is not the agent of the Buyer or Seller but nevertheless is obligated to them to: • Disclose to: i. a buyer or buyer agent any adverse material facts that concern the property and that are known to the statutory broker, except that the statutory broker is not required to inspect the property or verify any statements made by the seller; and ii. a seller or a seller agent any adverse material facts that are known to the statutory broker and that concern the ability of the buyer to perform on any purchase offer Exercise reasonable care, skill, and diligence in putting together a real estate transaction, and Comply with all applicable federal and state laws, rules and regulations.

5. IN-HOUSE SELLER AGENT DESIGNATE Created when the agency holds both the listing on a property from the seller and a buyer broker agreement with the buyer, an in-house seller agent designate is a broker or salesperson employed by or associated as an independent contractor with a broker and designated by the broker as the exclusive agent for a seller for a designated transaction and who may not be considered to be acting for other than the seller with respect to the designated transaction.

6. IN-HOUSE BUYER AGENT DESIGNATE Created when the agency holds both the listing on a property from the seller and a buyer broker agreement with the buyer, an in-house buyer agent designate is a broker or salesperson employed by or associated as an independent contractor with a broker and designated by the broker as the exclusive agent for a buyer for a designated transaction and who may not be considered to be acting for other than the buyer with respect to the designated transaction.

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GREGORY W. FAY FOUNDER/BROKER Licensed in: MT o. 406-586-4001 | c. 406-581-5665 gfay@fayranches.com RYAN BRAMLETTE PARTNER, RANCH SALES Licensed in: MT o. 406-586-4001 | c. 406-580-9569 rbramlette@fayranches.com

FAY RANCHES INC. (800) 238.8616 info@fayranches.com www.fayranches.com