Indian Canyon (USU Property) (October 19, 2016 Auction)

Indian Canyon (USU Property) (October 19, 2016 Auction)

Auction Date:
October 19 2016
Minimum Bid:
Minimum Acceptable Price is Not Disclosed
(SEE ATTACHED APPRAISAL)
SOLD FOR $700,000
County:
Carbon County
Acres:
271.86 Acres, More or Less
General Information

CLOSING COSTS:

These costs cannot be financed and are in addition to the 5% down payment.  All closing costs are due from the prevailing bidder at the auction.

Appraisal Costs: $3,700.00
Cultural Resources Survey: N/A
Legal Advertising Cost: $400.00
Sale Processing Charge: $500.00
Application Fee: $250.00
TOTAL CLOSING COSTS: $4,850.00

Legal Description:

Parcel # 02-0013-0003
SW4 SEC 31, T12S, R10E, SLB&M. LESS 2-13-2 (.90 AC) ALSO, LESS 2-13-1 (2.66 AC.) 156.42 AC.

Parcel # 02-0015-0005
E2NE4; SEC 1, T13S, R9E, SLB&M. 80.17 AC M/L

Parcel # 02-0418-0001
LOT 4 (NW4NW4) SEC 6, T13S, R10E, SLB&M. LESS 2-13-1 (1.25 AC) & ST HWY 191. 35.27 AC.

Location:

The property is located approximately 12 miles northeast of Helper, Utah, along the east and west sides of Highway 191.

Access:

The property is accessible from Highway 191, which runs through the property.

Other:

Along with the land, the sale also will include three industrial office/warehouse buildings which were constructed in the 1980’s, which are one to two-story, containing 52,051 gross square feet. The property was previously used by the College of Eastern Utah for mining education and then most recently used for manufacturing.  The buildings are currently vacant.

Also included with the sale will be six cranes inside the buildings.  Please call for details.

Acreage:

271.86 acres, more or less

Water:

UPDATE from October 18, 2016:  20 shares of water from the Price River Water Irrigation District will be conveyed with the property.  The water delivery system infrastructure is in place but is in need of repairs.

Utilities:

Electricity is available on site.

Zoning:

Recreation, Forestry and Mining and HMC: Historic Mining Camp Zone (RR&M and HMC)

Financing:

Financing will NOT be offered for this property.  A down payment of 5% and closing costs will be due at the auction.  The remaining balance must be paid in full on or before November 30, 2016.  Closing will occur at a local title company.

Encumbrances

Mineral Leases:

The mineral estate is not owned by USU and will not be included as part of the sale.

Surface Leases:

There are no known easements, encroachments, covenants or other use restrictions that would unduly limit or impede development.  (A right of entry permit with the Utah Division of Oil, Gas, and Mining will expire on December 31, 2016.  See disclosures.)

Disclosure and Contact

Disclosures:

  1. This property is being sold by SITLA on behalf of Utah State University.  The property is owned by Utah State University.
  2. The roadway/driveway for the property is currently being used as a turnaround site for a project being completed on a nearby property.  The expiration date for this agreement is December 31, 2016.  (See attached document.)
  3. Please see the auction page for general disclosures and auction procedure information which pertains to all properties being offered at the auction.
  4. The property will be conveyed subject to all valid existing rights.
  5. Other disclosures, if any, will be announced at the auction.

Contact for Additional Information:

Joseph Jenkins
Utah State University
joseph.jenkins@usu.edu
(435) 797-3510

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

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