1500 West Vernal Property (C-26971)

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

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

Access to the property is from 1500 West.

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

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

Utilities: Utilities are located nearby.

MG1 (Mining and Grazing)

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 Reservations:
1. A cultural resource survey was conducted on this parcel. Significant site(s) were identified. The parcel will be sold with cultural reservations for the significant site(s).

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.
6. The Utah Geological Survey (UGS) has submitted the following comment: "Potential geologic hazards in the area that could affect the parcel include flash flooding/debris flow, problem soils and/or bedrock including shrink/swell and/or collapsible, landslides and landslide-prone bedrock units, shallow groundwater and/or bedrock, and indoor radon potential. Prospective buyers 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

Ben Stireman
Resource Specialist

Email benstireman@utah.gov

(801) 538-5164

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