Tract 46
AUCTION CANCELLED
Tract Details
Lease Terms and Conditions
Effective October 13, 2021 with a primary term of three (3) years and a Royalty rate of 20%. Click here to view lease form.
This Lease is subject to any and all existing pipeline, road or utility easements, surface or commercial agreements, and encumbrances of any nature affecting the Premises or any part thereof, and the rights of the parties thereunder, which are evidenced by documentation filed of record in the Official Public Records of the County where the Premises are located as of the Effective Date or that a true and correct survey would reveal.
Successful Bidder Notification
When the bids are accepted by the University Lands of Texas, the successful bidder will be notified via email with closing instructions, including total amount due.
Buyer Premium
Notice: A Buyer Premium will be added to the total bonus amount cost of this lease, calculated as follows:
| Tract Bonus Bid | Buyer's Premium |
|---|---|
| <=$50,000 | 1.25% |
| >=$1,000,000 | 1.00% |
Buyer Premiums are only due for tracts which are sold and computed only on the winning bonus bid amount. The schedule offers a fixed rate of 1.25% up to a bonus bid value of $50,000 and then begins to slide linearly to a rate of 1.00% for a bonus bid value of $1,000,000. Bonus bids in excess of $1,000,000 are computed at a fixed rate of 1.00%.