Server Time (CDT): Oct. 20, 5:16:17p

1500 West Vernal Property (C-26971)

Uintah County, UT
Utah SITLA - Land Sale Auction, November 10, 2021

AUCTION NOT YET STARTED

Registration Status:

Please log in as a buyer to view registration status.

Your Bid Status:

Parcel:

1500 West Vernal Property (C-26971)

Acres:

6.62

Time Remaining:

20D 19H 13M 43S

Start Time:

11/4/2021 9:00 AM MDT / 10:00 AM CDT

End Time:

11/10/2021 10:30 AM MST / 11:30 AM CST

Your Bid:

-

Highest Bid:

-

Starting Bid:

$78,000

Bid Increment:

$500

Total Cost at Starting Bid:

$83,650
(Bid Price + Agency Fees)

Legal Description:

Parcel Details

Parcel

1500 West Vernal Property (C-26971)

County, State

Uintah, UT

Legal Description

T5S, R21E, SLB&M
Section 10: N2N2N2SW4SW4

Acreage

6.62

Appraisal Costs

$1,800.00

Cultural Resources Survey Cost

$900.00

Land Survey Cost

$2,000.00

Legal Advertising Cost

$200.00

Sale Processing Charge

$500.00

Application Fee

$250.00

Comments

Acreage listed is approximate; 6.62 Acres, More or Less

Agency Fees (Closing Costs)

Agency Fee Amount
Appraisal Cost $1,800.00
Cultural Resources Survey Cost $900.00
Land Survey Cost $2,000.00
Legal Advertising Cost $200.00
Sale Processing Charge $500.00
Application Fee $250.00

Beneficiary Notice

The net proceeds from the sale of this property will be deposited into the permanent fund for the beneficiary of Public Schools.

Location and Access

The property is located southwest of Vernal, along 1500 West.

Access to the property is from 1500 West.

Additional Information

This land is relatively flat with typical grasses and shrubs for the area.

Water Rights and Utilities

Water Rights: No water rights are being sold with this property.

Utilities: Utilities are located nearby.

Zoning

MG1 (Mining and Grazing)

Encumbrances

Mineral Leases:
1. Mineral Lease No. 53732-OBA, issued to Hoodoo Mining and production Company, LLC for oil, gas, and associated hydrocarbon with an expiration date of November 1, 2021 (based on production)

Surface Leases:
1. Easement No. 2346, issued to High Line Canal Company for a canal for a perpetual term
2. Grazing Permit No. 23289, issued to Holmes Bar NE Ranch, LLC (this property will be deleted from the grazing permit when it is sold)

Cultural Resource Covenant:
1. A cultural resource survey is being conducted on this parcel. The parcel will be sold with cultural reservations for significant site(s) which are identified.

Disclosures

1. A possible trespass issue exists from the parcels located to the North. It will be the responsibility of the successful purchaser to resolve this encroachment.
2. Please see the disclosure summary and the certificate of sale template document posted at the bottom of this page for general disclosures which apply to all parcels being offered for sale at this auction.
3. All mineral rights will be reserved.
4. The sand and gravel on the parcel will be subject to a royalty provision if sold commercially.
5. The property will be conveyed subject to all valid existing rights.

Financing

Financing will be offered for this parcel at a variable interest rate of prime plus 2.5% or 7.5%, whichever is greater. A down payment of 10% and closing costs will be due at the auction. The remaining balance can be financed for up to a 20 year term.

Utah SITLA Points of Contact

Diane Lund
Sales Coordinator

Email dlund@utah.gov

(877) 526-3725 or (801) 538-5163

Ben Stireman
Resource Specialist

Email benstireman@utah.gov

(801) 538-5164

Successful Bidder Notification

After all auctions have closed, the successful bidder will be notified via email with closing instructions, including total amount due.

For the successful bidder, a deposit of at least 10% of the sale price, closing costs, and interest through November 30, 2021 is due within one business day from the completion of the auction and is payable to SITLA. Full remittance instructions will be included with the invoice. The remaining balance due will be financed through SITLA at a variable rate of prime plus 2.5% or 7.5%, whichever is greater.

EnergyNet Point of Contact

Government Resources

Email
government@energynet.com

Office
(877) 351-4488

Utah Broker

Utah Broker of record is Bates Land Consortium

RE License Number: 10851533-CN00; 5469640-PB00



www.bateslandco.com