Server Time (CDT): Mar. 28, 3:07:45p

Leasing Unit # 9

Uintah County, UT
Utah SITLA - Industrial Sands, April 24, 2020

AUCTION CANCELLED

Registration Status:

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Your Bid Status:

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Lease:

Leasing Unit # 9

Gross Acres:

600.00

Net Acres:

600.00

Time Remaining:

Auction has ended

Schedule Status:

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

Minimum Bid:

$3 per acre

Total Lease Cost at Minimum Bid:

$1,866
(Bonus + Agency Fees + Buyer Premium)

Legal Description:

Lease Details

Lease Name

Leasing Unit # 9

County, State

Uintah, UT

Legal Description

T5S, R22E, SLB&M
Section 33: E2, NW4NW4, S2NW4, SW4

Gross Acres

600.00

Net Acres

600.00

Royalty

Greater of 10% or $3 per ton

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 ยง63G-2-101, et. seq.

The Applicant offers minimum of $500.00 per lease unit, regardless of acreage, or $3.00 per acre and for each fractional part of an acre (fractional acre is rounded up to one full acre) whichever is greater. The minimum bid shall apply to the first year annual lease rental. Annual rentals for the first five (5) lease years will be $3.00 per acre. Commencing with the sixth (6th) lease year, the annual rental will be increased by $1.00 per acre each year. 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 Point of Contact

Trust Lands Mineral Resource Specialist
Andrew Bedingfield

Email
abedingfield@utah.gov

Office
(801) 538-5158

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