Leasing Unit No. 75

Uintah County, UT
Utah SITLA - Oil Shale, July 26, 2019

AUCTION CANCELLED

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Leasing Unit No. 75
640.00
640.00
Auction has ended
Bids Due:
July 26th, 2019
6:00 PM CDT / 5:00 PM MDT
$1 per acre
$682.80
(Bonus + Agency Fees + Buyer Premium)
Lease Details
Lease Name
Leasing Unit No. 75
County, State
Uintah, UT
Legal Description
T10S, R23E, SLB&M
Sec. 32: All
Gross Acres
640.00
Net Acres
640.00
Royalty
5% - Adjustable after 5-years
Lease Term
10 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 63G-2-101, et. seq.

The Applicant offers a minimum bid of $500.00 per leasing unit or $1.00 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.

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.

Utah School and Institutional Trust Land Administration Points of Contact

Industrial Sands Commodity
Andrew Bedingfield

Email
abedingfield@utah.gov

Office
(801) 538-5158

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