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

The parcel is located east of the small town of Newcastle, along Highway 56, in southwestern Iron County.

Direct access to the parcel is from Highway 56.

The vegetation is scattered pinyon and juniper trees with sagebrush and grasses. The topography is small rolling hills, with gentle to moderate terrain.

Water Rights: None

Utilities: No utilities are located on the property, but are nearby.

Commercial

Mineral Leases:
None

Surface Leases:
1. Easement No. 2389, issued to Iron County for roads for a perpetual term

Cultural Resource Covenant:
1. A cultural resource survey was conducted on this parcel. No significant sites were identified. The property will be sold without any cultural reservations.

1. Please see the disclosure summary and the certificate of sale template document posted in the Acquisition Agreement area of this page for general disclosures which apply to all parcels being offered for sale at this auction.
2. All mineral rights will be reserved.
3. The sand and gravel on the parcel will be subject to a royalty provision if sold commercially.
4. The property will be conveyed subject to all valid existing rights.
5. The following comments were received from the Utah Geological Survey (UGS): "Potential geologic hazards in the area that could affect the property include flash flooding/debris flow, problem soils and/or rock including shrink/swell and/or collapsible, shallow bedrock, earthquake hazards associated with the Antelope Range faults, and indoor radon potential. Prospective users should be aware of the potential hazards so they can be addressed in a manner appropriate to the intended use of the property. UGS has general geologic hazard information available at its offices and online at http://geology.utah.gov/utahgeo/hazards/index.htm."

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.

Diane Lund
Sales Coordinator

Email dlund@utah.gov

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

Ron Torgerson
Resource Specialist

Email rgtorgerson@utah.gov

(435) 893-2980

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.

Government Resources

Email
government@energynet.com

Office
(877) 351-4488