Leasing Unit 7
Utah County, UT
Utah SITLA - Metalliferous Minerals Lease Sale, January 26, 2024
SOLD
SOLD
Registration Status:
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Your Bid Status:
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Lease:
Leasing Unit 7
Gross Acres:
120.00
Net Acres:
120.00
Time Remaining:
Auction has ended
Start Time:
1/12/2024 9:00 AM MST / 10:00 AM CST
End Time:
1/26/2024 5:00 PM MST / 6:00 PM CST
Minimum Bid:
$4.17 per acre
Total Lease Cost at Minimum Bid:
$560.41
(Bonus + Agency Fees + Buyer Premium)
Legal Description:
T.9S R.3E, SLB&M
Sec. 15: S2NW4, NW4SW4
Lease Details
Lease Name
Leasing Unit 7
County, State
Utah, UT
Legal Description
T.9S R.3E, SLB&M
Sec. 15: S2NW4, NW4SW4
Gross Acres
120.00
Net Acres
120.00
Royalty
4%, 8%-fissionable
Lease Term
10 Years
Application Fee
$50.00
Special Stipulations and Clauses
PARTIAL OR NO SITLA SURFACE OWNERSHIP
LEASING UNIT CONTAINS PARTIAL OR NO SITLA SURFACE OWNERSHIP.
Lease Terms and Conditions
All bidding and lease sales on SITLA properties listed on this website shall be subject to the statutes, administrative rules, and other laws of the State of Utah, including but not limited to the Utah Government Records Access and Management Act, UTAH CODE SS63G-2-101, et. seq.
The Applicant offers a minimum bid of $500.00 per leasing unit or $3.00 per acre, whichever is greater, covering the first year's annual rental. Fractional acres are rounded up to one full acre. Click here to view lease form.
Failure of funds or failure to execute a lease within 30 days of receipt shall constitute a forfeiture of the bonus bid and termination of the lease agreement.
Contacts
Utah SITLA Contact
Tyler Wiseman, Trust Lands Mineral Resource Specialist
Email twiseman@utah.gov
Office (801) 538-5153
EnergyNet Contact
Government Resources
Email government@energynet.com
Office (877) 351-4488
Successful Bidder Notification and Buyer Premium
When the bids are accepted by SITLA, the successful bidder will be notified via email with closing instructions, including total amount due.
Payment must be made within two business days.
A 2% Buyer Premium, calculated as 2% of the total bid amount, will be added to the cost of this lease.