Leasing Unit # 74
Box Elder County, UT
Utah SITLA - Potash/Mineral Salts, July 22, 2022
AUCTION CANCELLED
AUCTION CANCELLED
Registration Status:
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Your Bid Status:
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Lease:
Leasing Unit # 74
Gross Acres:
640.00
Net Acres:
640.00
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:
$4 per acre
Total Lease Cost at Minimum Bid:
$2,641.20
(Bonus + Agency Fees + Buyer Premium)
Legal Description:
T4N, R18W, SLB&M
Sec. 32: ALL
Lease Details
Lease Name
Leasing Unit # 74
County, State
Box Elder, UT
Legal Description
T4N, R18W, SLB&M
Sec. 32: ALL
Gross Acres
640.00
Net Acres
640.00
Royalty
5% with $5,000 minimum royalty
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 ยง63G-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.
General Comments
Pilot Valley potash/lithium potential.
High probability for eligible cultural sites to be present in the parcel.
Partial or no surface ownership.
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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