Server Time (CDT): Mar. 28, 11:09:23a

Leasing Unit # 22

Utah County, UT
Utah SITLA - Metalliferous Minerals, April 24, 2020

SOLD

Registration Status:

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Your Bid Status:

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Lease:

Leasing Unit # 22

Gross Acres:

480.00

Net Acres:

480.00

Time Remaining:

Auction has ended

Schedule Status:

Bids Due:
April 24, 2020
6:00 PM CT / 5:00 PM MT

Minimum Bid:

$1.05 per acre

Total Lease Cost at Minimum Bid:

$544.08
(Bonus + Agency Fees + Buyer Premium)

Legal Description:

Lease Details

Lease Name

Leasing Unit # 22

County, State

Utah, UT

Legal Description

T5S, R3W, SLB&M
Section 25: NE4NE4, S2NE4, E2SE4
Section 36: NE4NE4, SW4, S2SE4

Gross Acres

480.00

Net Acres

480.00

Royalty

4%. 8%-fissionable

Lease Term

10 years

Application Fee

$30.00

Special Stipulation

Minimum Bid

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 ยง63G-2-101, et. seq.

The Applicant offers a minimum of $500.00 per lease unit, regardless of acreage, or $1.00 per acre, (fractional acre is rounded up to one full acre) whichever is greater. 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.

Special Stipulation

MINIMUM BID AMOUNT

LEASING UNIT IS AT A MINIMUM BID OF $500.00 WITH A MINIMUM ANNUAL RENTAL OF $500.00 PER YEAR. REFER TO THE SCHOOL AND INSTITUTIONAL TRUST LANDS ADMINISTRATION RULES AND REGULATIONS (O&G R850-21-500-1b; Minerals R850-25-300-1c).

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 Point of Contact

Trust Lands Mineral Resource Specialist
Jerry Mansfield

Email
jmansfield@utah.gov

Office
(801) 538-5153

EnergyNet Point of Contact

Government Resources

Email
government@energynet.com

Office
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