Horseshoe Bend Property (C-27004)
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:Â 9:20am (MT) November 4, 2021
Bid End Time for this Parcel:Â 10:50am (MT) November 10, 2021
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.
| Cultural Resources Survey: | $190.00 |
| Appraisal Costs: | $1,800.00 |
| Advertising Costs: | $200.00 |
| Sale Processing Charge: | $500.00 |
| Application Fee: | $250.00 |
| TOTAL CLOSING COSTS: | $2,940.00 |
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 6 South, Range 22 East, SLB&M
Section 7: NW4NE4 (Within)
Location:
This property is located in the Horseshoe Bend area, north of the Green River.
Access:
This property can be accessed near the intersection of Bonanza Highway and Horseshoe Road, a Uintah-county claimed road.
Additional Information:
This property is relatively flat and has recently been cleared of vegetation.
Acreage:
4.09 Acres, More or Less
Water Rights:
No water rights are being sold with this property.
Utilities:
Some utilities are located on site.
Zoning:
MG1 (Mining and Grazing)
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.
Mineral Leases:
- Mineral Lease No. 53750-OBA, issued to Hoodoo Mining and Production Company, LLC with an expiration date based on production
- Mineral Lease No. 90019-OBA, issued to Hoodoo Mining and Production Company, LLC with an expiration date based on production
Surface Leases:
- Easement No. 1730 for Class D roads, issued to Uintah County for a perpetual term
- Grazing Permit No. 21357, issued to Scott and Kristy Wall (this property will be deleted from the grazing permit when it is sold)
- Range Improvement Project No. 463, issued to Holmes Bar NE Ranch, LLC (this property will be deleted from the range improvement project when it is sold)
Cultural Resource Covenant:
A cultural resource survey was conducted on this parcel. No significant sites were identified. The parcel will be sold without any cultural reservations.
Disclosures:
- A possible trespass issue exists on this property. It will be the responsibility of the successful purchaser to resolve this encroachment.
- 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.
- 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.
- The Utah Geological Survey (UGS) has submitted the following comment:Â “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.”
