Fremont Canyon Parcel (C-26959)

Fremont Canyon Parcel (C-26959)

Auction Date:
September 14 2021
Minimum Bid:
Minimum Acceptable Price is $659,200.00 PROPERTY SOLD FOR $659,200.00
County:
Iron County
Acres:
640.00 Acres, More or Less
General Information

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 3.4 million surface acres on behalf of our beneficiaries.

ONLINE BIDDING INFORMATION:

Bid Start Time for this Parcel:  9:40am MT, September 8, 2021
Bid End Time for this Parcel:  11:10am MT, September 14, 2021

  • For step by step instructions to pre-register as a bidder, please click here.
  • For a link to this parcel on the auction website where you can place bids or view the auction, please click here.

 

CLOSING COSTS:

The closing costs are in addition to the 10% down payment.  The cultural resources survey costs may be financed, upon approval.  All other closing costs are due from the prevailing bidder at the auction and cannot be financed.

Appraisal Costs: $700.00
Cultural Resources Survey: $10,937.60
Legal Advertising Cost: $100.00
Sale Processing Charge: $500.00
Application Fee: $250.00
TOTAL CLOSING COSTS: $12,487.60

Video:

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 31 South, Range 6 West, SLB&M
Section 8:  All

Location:

The property is located off Highway 20 in the Fremont Canyon area.

Access:

The property is accessed by Fremont Road, which runs through the parcel.

Additional Information:

The topography of the parcel is some steep terrain with a canyon, some rock outcroppings, and a wash.  The vegetation is native, including sagebrush and trees.

Acreage:

640.00 Acres, More or Less

Water Rights:

This property may include stock watering rights. The purchaser would need to work with the U.S. Bureau of Land Management to determine the amount available, if any, and to correct the records of the Utah State Engineer. More information is available on request.

Utilities:

There are no utilities located on the property.

Zoning:

A-20 (Agricultural with a 20 Acre Minimum to Build)

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.

Encumbrances

Mineral Leases:

None

Surface Leases:

  1. Easement No. 1471, issued to South Central Utah Telephone Association for an underground fiber optics line, with an expiration date of February 28, 2039
  2. Predesignation No. 753, issued to Iron County for road which are valid existing rights for a perpetual term
  3. Predesignation No. 873, issued to Iron County for Class D roads which are valid existing rights
  4. Grazing Permit No. 22515-10, issued to Beaver Valley Grazing Association (this property will be deleted from the grazing permit when it is sold)
  5. Grazing Permit No. 22515-A08, issued to Chris Gale (this property will be deleted from the grazing permit when it is sold)
  6. Range Improvement Project No. 803, issued to Beaver Valley Grazing Association (this property will be deleted from the grazing permit when it is sold)

 

Cultural Resource Covenant:

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

Disclosure and Contact

Disclosures:

  1. 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.
  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 Utah Geological Survey (UGS) has submitted the following comment:  “Potential geologic hazards in the area that could affect the property include flash flooding/debris flow, landslides and/or landslide susceptible bedrock, earthquake hazards associated with Quaternary faults in the region, problem soils and/or rock including shrink/swell, and/or collapsible, shallow bedrock, 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”
  5. The property will be conveyed subject to all valid existing rights.

Contact for Additional Information:

Diane Lund
Sales Coordinator
dlund@utah.gov
(877) 526-3725 or (801) 538-5163

Ron Torgerson
Resource Specialist
rgtorgerson@utah.gov
(435) 893-2980

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