Echo I-80 Parcel (C-27217)
What are trust lands?
Trust lands are parcels of land granted by Congress to Utah at statehood to support specific beneficiaries, including public schools, universities, hospitals, and reservoirs.  Trust lands are not public lands, but are generally open for public use, when possible. Trust lands were allocated specifically to generate revenue to support our beneficiaries. SITLA currently manages 3.3 million surface acres on behalf of our beneficiaries.
ONLINE BIDDING INFORMATION:
To register as a bidder or to place a bid, please see box to the right.
Bid Start Time for this Parcel:Â Thursday, June 5, 2025 – Time TBD
Bid End Time for this Parcel: Tuesday, June 10, 2025 – Time TBD
CLOSING COSTS:
The closing costs are expenses incurred to prepare the property for sale. A large portion of the costs is for the completion of a cultural resource survey, which is required by law.
These costs are in addition to the 10% down payment. All closing costs are due from the winning bidder within 24 hours after completion of the auction and cannot be financed.
TOTAL CLOSING COSTS FOR THIS PARCEL:Â TBD
Beneficiary:
The net proceeds from the sale of this property will be deposited into the permanent fund for the beneficiary of Public Schools.
Legal Description:
Township 4 North, Range 6 East, SLB&M
Section 22: E½, NW¼ (within – less right of way conveyances)
Location:
TBD
Access:
TBD
Additional Information:
TBD
Acreage:
459.37 acres, more or less
Water Rights:
No water rights will be sold with this property
Utilities:
TBD
Zoning:
TBD
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.
During the time when the property is being financed (before a patent is issued), the county records will show the property as state trust lands with notices being sent in care of the purchaser. All improvements to the land during the financing period will need approval.
Mineral Lease Encumbrances:
- Mineral Lease No. 54274, issued to Pan Oklahoma Corporation for the SW¼ of this parcel, for oil, gas, and associated hydrocarbon exploration, with an expiration date of August 31, 2027
Surface Lease Encumbrances:
- Right of Way No. 3140, issued to US Telecommunications Inc. for a buried fiber optic communication cable, for a perpetual term
- Grazing Permit No. 21780, issued to Joseph O. Fawcett & Sons Inc. (this permit will be cancelled when this land is sold)
Cultural Resource Covenant:
A historical and cultural resource survey will be conducted on this parcel. Any significant sites which are identified will be protected with a reservation.
Disclosures:
- Please see the disclosure summary and the certificate of sale template document for general disclosures which apply to all parcels being offered for sale at this auction.
- All mineral rights will be reserved.
- The sand and gravel on the parcel will be subject to a royalty provision if sold commercially.
- The property will be conveyed subject to all valid existing rights.
