AUCTION CANCELLED
Registration Status:
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Your Bid Status:
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Lease:
Leasing Unit # 32
Gross Acres:
160.00
Net Acres:
160.00
Time Remaining:
Auction has ended
Start Time:
7/8/2022 5:00 PM MDT / 6:00 PM CDT
End Time:
7/22/2022 5:00 PM MDT / 6:00 PM CDT
Minimum Bid:
$3.13 per acre
Total Lease Cost at Minimum Bid:
$540.82
(Bonus + Agency Fees + Buyer Premium)
Legal Description:
T22S, R2W, SLB&M
Sec. 25: SW4NW4
Sec. 26: SE4NE4, SE4SW4, SW4SE4
Lease Details
Lease Name
Leasing Unit # 32
County, State
Sevier, UT
Legal Description
T22S, R2W, SLB&M
Sec. 25: SW4NW4
Sec. 26: SE4NE4, SE4SW4, SW4SE4
Gross Acres
160.00
Net Acres
160.00
Royalty
16.67%
Lease Term
5 years
Application Fee
$30.00
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 ยค63G-2-101, et. seq.
The Applicant offers a minimum bid of $500.00 per leasing unit or $2.00 per acre, whichever is greater, covering the first year's annual rental. Fractional acres are rounded up to one full acre. Lease includes pugh clause. 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.
General Comments
Horizontal Pugh Clause included in lease.
Partial or no surface ownership.
Successful Bidder Notification
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.
Buyer Premium
A 2% Buyer Premium, calculated as 2% of the total bid amount, will be added to the cost of this lease.
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