Soldier Pass Road Parcel (C-27002)
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.
BIDDING INFORMATION:
Bid Start Time for this Parcel:Â TBD
Bid End Time for this Parcel:Â TBD
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 close of the auction and cannot be financed.
| Cultural Resources Survey: | $22,925.00 |
| Advertising Costs: | $200.00 |
| Appraisal Costs: | $2,400.00 |
| Sale Processing Charge: | $500.00 |
| Application Fee: | $250.00 |
| TOTAL CLOSING COSTS: | $26,275.00 |
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 7 South, Range 21 West, SLB&M
Section 21:Â Lots 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12
Location:
The property is located on Lake Mountain which is west of Utah Lake. Soldier Pass Road runs through the property.
Access:
Access is from Soldier Pass Road, which runs through the property.
Additional Information:
The property has previously been used for recreation, target shooting, hunting, and OHV use. The topography is moderately sloping.
Acreage:
482.67 Acres, More or Less
Water Rights:
No water rights are being sold with this property.
Utilities:
There are no existing utilities in this area.
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.
Mineral Leases:
- Mineral Lease No. 51812, issued to Brownstone Real Estate, Inc. for metalliferous minerals, with an expiration date of June 20, 2030
Surface Leases:
- Easement No. 2464, issued to Utah County for roads for a perpetual term
- Predesignation No. 784, issued to Utah County for roads which qualify as valid existing rights for a perpetual term
- Predesignation No. 846 for a shooting closure for an undetermined term (this closure will be removed from this property when sold)
- Predesignation No. 850 for a shooting closure for an undetermined term (this closure will be removed from this property when sold)
- Grazing Permit No. 22977-10, issued to Red Pine Ranches (this property will be deleted from the grazing permit when it is sold)
Cultural Resource Covenant:
A cultural resource survey is being conducted on this parcel. The parcel will be sold with cultural reservations for any significant site(s) which are identified.
Disclosures:
- 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.
- Reserving to SITLA a 100 foot utility easement, 50 feet each side of the centerline of Soldier Pass Road
