Leasing Unit # 2
Millard County, UT
Utah SITLA - Gemstone/Fossil, July 22, 2022
SOLD
SOLD
Registration Status:
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Your Bid Status:
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Lease:
Leasing Unit # 2
Gross Acres:
79.82
Net Acres:
79.82
Time Remaining:
Auction has ended
Start Time:
7/8/2022 5:00 PM MDT / 6:00 PM CDT
End Time:
7/22/2022 5:00 PM MDT / 6:00 PM CDT
Minimum Bid:
$21.28 per acre
Total Lease Cost at Minimum Bid:
$1,766.45
(Bonus + Agency Fees + Buyer Premium)
Legal Description:
T18S, R13W, SLB&M
Sec. 2: LOTS 3(39.82), SE4NW4 [LOT AKA NE4NW4]
Lease Details
Lease Name
Leasing Unit # 2
County, State
Millard, UT
Legal Description
T18S, R13W, SLB&M
Sec. 2: LOTS 3(39.82), SE4NW4 [LOT AKA NE4NW4]
Gross Acres
79.82
Net Acres
79.82
Royalty
Greater or 10% or $300.00/ton
Lease Term
10 years
Application Fee
$30.00
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 ยค63G-2-101, et. seq.
The Applicant offers a minimum bid of $500.00 or $10.00 per acre, (fractional acre is rounded up to one full acre) which ever is greater, as well as $900.00 as an annual advanced minimum royalty payment. 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.
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.
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