Leasing Unit # 3
Juab County, UT
Utah SITLA - Metalliferous Minerals, January 22, 2021
SOLD
SOLD
Registration Status:
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Your Bid Status:
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Lease:
Leasing Unit # 3
Gross Acres:
640.00
Net Acres:
640.00
Time Remaining:
Auction has ended
Start Time:
1/8/2021 5:00 PM MST / 6:00 PM CST
End Time:
1/22/2021 5:00 PM MST / 6:00 PM CST
Minimum Bid:
$4 per acre
Total Lease Cost at Minimum Bid:
$2,641.20
(Bonus + Agency Fees + Buyer Premium)
Legal Description:
T14S, R10W, SLB&M; Sec. 16. ALL
Lease Details
Lease Name
Leasing Unit # 3
County, State
Juab, UT
Legal Description
T14S, R10W, SLB&M; Sec. 16. ALL
Gross Acres
640.00
Net Acres
640.00
Royalty
4%. 8%-fissionable
Lease Term
10 Years
Application Fee
$30.00
Special Stipulation
Special 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 $4.00 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
SPECIAL MINIMUM BID AMOUNT
LEASING UNIT IS OFFERED AT A MINIMUM BID OF $4.00 PER ACRE, COVERING THE FIRST YEAR'S ANNUAL RENTAL. ANNUAL RENTAL BEYOND THE FIRST YEAR IS $1.00 PER ACRE. FRACTIONAL ACRES ARE ROUNDED UP TO ONE FULL ACRE.
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