Server Time (CST): Jan. 18, 1:10:15a

Leasing Unit # 49

Millard County, UT
Utah SITLA - Potash, July 23, 2021

SOLD

Registration Status:

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Your Bid Status:

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Lease:

Leasing Unit # 49

Gross Acres:

729.40

Net Acres:

729.40

Time Remaining:

Auction has ended

Start Time:

7/9/2021 5:00 PM MDT / 6:00 PM CDT

End Time:

7/23/2021 5:00 PM MDT / 6:00 PM CDT

Minimum Bid:

$4 per acre

Total Lease Cost at Minimum Bid:

$3,008.40
(Bonus + Agency Fees + Buyer Premium)

Legal Description:

Lease Details

Lease Name

Leasing Unit # 49

County, State

Millard, UT

Legal Description

T20S, R11W, SLB&M; Sec. 2: LOTS 1(23.18), 2(22.63), 3(22.07), 4(21.52), 5(40.00), 6(40.00), 7(40.00), 8(40.00), S2N2, S2 [ALL]

Gross Acres

729.40

Net Acres

729.40

Royalty

5.00%

Lease Term

10 years

Application Fee

$30.00

Special Stipulation

Archaeology

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 minimum of $500.00 per lease unit, regardless of acreage, or $4.00 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 $4.00 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.

Special Stipulation

ARCHAEOLOGY AREA

LEASING UNIT CONTAINS OR IS ADJACENT TO ARCHAEOLOGICAL SITES WITH A FAIRLY HIGH PROBABILITY THAT ADDITIONAL SITES COULD EXIST.

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 Senior Landman
Lindsay Dick, CPL

Email
lindsaydick@utah.gov

Office
(801) 538-5159

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Office
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