ASSIGNMENT APPROVAL - ML 53283 - OIL GAS & ASSOCIATED HYDROCARBONS … · ASSIGNMENT APPROVAL - ML...

ASSIGNMENT APPROVAL - ML 53283 - OIL GAS & ASSOCIATED HYDROCARBONSOil & GasStatus:09/18/2017 Approved by David Ure Department:DA Date:

Hale, AlyDrafted By: 516ID:

CONTRACT DETAILSAdministrator: Garrison, LaVonne J. County: Uintah Total acres: 626.30

Start Date: 06/01/2016 Beneficiary: School

Expiration Date: 05/25/2022

Royalty Rate: 17%

SUMMARYA record title assignment is approved for 79% interest in and to this lease to the entities as listed below, by T-K ProductionCompany. No overriding royalty reserved, but subject to overriding royalty as previously reserved. Effective June 1, 2004, theSchool and Institutional Trust Lands Administration assumes no responsibility in reviewing, collecting, or distributing overridingroyalty.

Whiting Oil & Gas Corporation, 1700 Broadway St., Ste. 2300 Denver, CO 80290 (75.000000%) Remuda Energy Development, LLC, 2708 1st Ave. N., Ste 200 Billings, MT 59101 (1.625000%) AME Production Co., Inc., 1555 Campus Way, Ste. F Billings, MT 59102 (0.500000%) B & E Pinkerton LLC, 3340 Gregory Dr., West Billings, MT 59102 (0.500000%) DAHD, Inc., P.O. Box 241 Hall, MT 59837 (0.500000%) Snake Oil Sales LLC, 526 Highland Park Dr. Billings, MT 59102 (0.500000%) Triple J Production, Inc., 266 N. 3500 W. Vernal, UT 84078 (0.250000%) SAKA, LLC, 2488 Aspen Way Billings, MT 59106 (0.125000%)

TYPE OF RECORD: APPROVAL

State of Utah School and Institutional Trust Lands Administration of 1Form 2






Royalty Rate: 17%




State of Utah School and Institutional Trust Lands Administration Page 1 of 1Form 2






Royalty Rate: 17%








Start Date: 06/01/2014 Beneficiary: Reservoirs 58.85 ac (9.72%);School 546.42 ac (90.28%)


Royalty Rate: 17%










Royalty Rate: 17%







CONTRACT DETAILSAdministrator: Adams, Wes County: Uintah Total acres: 200.90



Royalty Rate: 17%





CORRECTION TO DIRECTOR'S ACTIONS OF SEPTEMBER 5, 2017 - APPROVAL OFML 53613 OBA

Oil & GasStatus:09/18/2017 Approved by David Ure Department:DA Date:


CONTRACT DETAILSLessee: MORNING GUN EXPLORATION LLC

Address: 1601 ARAPAHOE STREET, BOX 1DENVER, CO 80202

Administrator: Garrison, LaVonne J. County: Uintah Total acres: 1,040.00

Beneficiary: LEDA/Rec Exchange (PL111) 504.40 ac (48.50%);Management Fee (PL 111) 31.20 ac (3.00%);School 504.40 ac (48.50%)

LAND PARCELS (GIS Review of Description: 09/08/2017)T12S, R24E, SLB&M Section 33 ALL 640.00 acres

T12S, R24E, SLB&M Section 34 W2, W2SE4 400.00 acres

SUMMARYOn the Director's Actions of September 5, 2017 (ID #442), this application was listed for approval with an incomplete legaldescription of T12S, R24E, SLB&M, Section 33: All (640.00 acres). The Business System and GIS Review has been updatedto include additional lands in T12S, R24E, SLB&M, Section 34: W2, W2SE4 (400.00 acres) for a total of 1040.00 acres.

TYPE OF RECORD: RECORD KEEPING


AMENDMENT NO. 2 - SULA 408 - TELECOMMUNICATION - FEE WAIVERSurfaceStatus:09/18/2017 Approved by David Ure Department:DA Date:

Bagley, GaryDrafted By: 418ID:

CONTRACT DETAILSLessee: PACIFICORP DBA ROCKY MOUNTAIN POWER

Address: RIGHT OF WAY SERVICES1407 WEST NORTH TEMPLE, SUITE 110SALT LAKE CITY, UT 84116

Administrator: Bagley, Gary County: Rich Total acres: 0.82



LAND PARCELS (GIS Review of Description: 09/11/2017)T13N, R6E, SLB&M Section 9 E2 (WITHIN) 0.82 acres

BACKGROUNDPacifiCorp, DBA Rocky Mountain Power is the lessee of SULA 408, a communication tower on the Bear Lake CommunicationSite (Laketown Mountain). The lessee has been working with the Trust to correct and modify the boundary of the tower sitearea. This action is identified as Amendment No. 2 to SULA 408.

NARRATIVEThe purpose of this amendment is to correct the legal description for the leased tract description area, which was slightly inerror, and to resolve a boundary issue with an adjoining communication site to the south. The lessee has agreed to a reductionin acreage from 0.92 acre to 0.82 acre. A new land survey was completed at the expense of the lessee. The amended legaldescription is as listed, which is the same as the original legal nondescript. The slight differences in the metes & bounds arenoted in the contract. All other terms of the lease are to remain the same.

FINANCIAL/REVENUEThe amendment fee for this action has been waived because the primary reason the legal description is being amended is tocorrect a boundary issue and reduce the acreage, which will benefit the Trust.

SUMMARYThe legal description of the communication site area has been amended, and the related acreage for the leased tractdescription is now reducedfrom 0.92 acre to 0.82 acre. This acreage does not include the right of way for the existing roadleading to the site.



LEASE TERMINATION AND BOND RELEASE - SULA 1596 - INDUSTRIALSurfaceStatus:09/18/2017 Approved by David Ure Department:DA Date:

Davis, JimDrafted By: 429ID:

CONTRACT DETAILSLessee: ANADARKO UINTAH MIDSTREAM, LLC

Address: ATTN: SURFACE LAND DEPT.1099 18TH STREET, STE 1800DENVER, CO 80202

Administrator: Davis, Jim County: Uintah Total acres: 2.66



BOND / INSURANCE DETAILSPrincipal Name: KERR-MCGEE OIL & GAS ONSHORE LP Bond Type: Performance Bond

Amount: $5,000.00 Effective Date: 12/17/2008Reference Number: 22024275

Issued By: LIBERTY MUTUAL INSURANCE CO.

NARRATIVESULA 1596 permitted Anadarko to construct, operate and maintain a gas compressor facility known as the East Cottonwoodcompressor. The facility has been removed and reclamation has been conducted. The lessee has requested that the lease beterminated and the bond released.

SUMMARYTermination of SULA 1596 and the release of $5,000.00 bond to Liberty Mutual Insurance, RF #22024275.



CORRECTION OF ACREAGE AND AUMS - GP 21644 16 - GRAZING (STANDARD)SurfaceStatus:09/18/2017 Approved by David Ure Department:DA Date:

Stewart, SlateDrafted By: 475ID:

CONTRACT DETAILSPermittee: JBL RANCHES, LTD

Address: C/O JERRY GLAZIER155 WEST 100 SOUTHHURRICANE, UT 84737

Administrator: Stewart, Slate County: Washington Total acres: 239.06



AUMs: 20.00

LAND PARCELS (GIS Review of Description: 09/06/2017)T41S, R11W, SLB&M Section 32 N2NE4, SE4NE4, SW4NE4 (LESS LANDS WITHIN ESMT 194), N2NW4

(20 AUMS)239.06 acres

NARRATIVEThe acreage of this permit is being corrected due to a parcel of land being sold (C-26723)through a negotiated sale to ZionHelicopters, LLC (see the August 21, 2017 Director's Actions, ID #224). Also, acreage and associated AUMs will be removedfrom this grazing permit which is part of Utah Department of Transportation's Easement No. 194.

Lands and AUMs to be removed: Township 41 South, Range 11 West, SLB&M Section 32: SE4NW4 (30.16 acres from C-26723) Section 32: SW4NE4 (Lands within ESMT 194 only - 10.78 acres) 40.94 Total Acres - 3 AUMs

GP 21644-16 will now contain the following: Township 41 South, Range 11 West, SLB&M Section 32: N2NE4, SE4NE4, SW4NE4 (Less lands within ESMT 194), N2NW4 239.06 Total Acres - 20 AUMs

SUMMARYThe acreage and AUMs contained in this grazing permit (GP 21644-16) have been corrected to reflect the removal of acreageand AUMs within ESMT 194 and the acreage and AUMs that were sold as part of a development sale (C-26723).



APPROVAL - ESMT 2142 - EASEMENTSurfaceStatus:09/18/2017 Approved by David Ure Department:DA Date:

Bartlett, ScottDrafted By: 489ID:

CONTRACT DETAILSLessee: EOG RESOURCES INC

Address: 600 17TH STREET, SUITE 1000NDENVER, CO 80202

Administrator: Bartlett, Scott County: Uintah Total acres: 5.34

Beneficiary: School

LAND PARCELS (GIS Review of Description: 09/12/2017)T9S, R22E, SLB&M Section 2 LOTS 1 & 2, SW4NE4, NW4SE4, E2SW4, SW4SW4 (WITHIN) 5.34 acres

BACKGROUNDThe subject "Application to Purchase an Easement" was received on July 10, 2017. It was submitted for Agency review on July17, 2017, and was accepted by the Director on July 31, 2017.

Because the proposed easement is for existing facilities, it is exempt from further review by the Resource DevelopmentCoordinating Committee ("RDCC").

NARRATIVEPROPOSED ACTION:The applicant has requested a non-exclusive easement to operate, repair, and maintain an existing access road. The accessroad was previously authorized by ROW 3234, which expired May 21, 2017. The applicant has requested this easement toreplace the expired right of way. The existing road provides access to several of the applicant's evaporation ponds in the area.The proposed easement is approximately 7,756.2 feet long and 30 feet wide, containing approximately 5.34 acres. Therequested term of the easement is 30 years.

EVALUATION OF FACTS:The Agency's archaeology staff has reviewed the proposed easement. Because the proposed easement is for existing facilities,a cultural resource survey is not required.

FINANCIAL/REVENUEThe application fee of $750.00 and the easement rental assessment of $2,585.39 have been submitted. The administrative feewill be paid every three (3) years, with the first payment being due January 1, 2020.

SUMMARYThis non-exclusive easement is to operate, repair, and maintain an existing access road known. The term will be 30 years, witha beginning date of May 22, 2017 and an expiration date of May 21, 2047. All required fees have been paid.



PATENT NO. 20505 ISSUED - C 26749 - PS 8584SurfaceStatus:09/18/2017 Approved by David Ure Department:DA Date:

Lund, DianeDrafted By: 477ID:

CONTRACT DETAILSPurchaser: BEAVER COUNTY

Address: 105 EAST CENTER STREETPO BOX 789BEAVER, UT 84713

Administrator: Brown, Lou County: Beaver Total acres: 38.72

Beneficiary: Reservoirs

Patent Number: P-20505 Patent Date: 08/23/2017

LAND PARCELS (GIS Review of Description: 08/10/2017)T30S, R9W, SLB&M Section 8 SE4NW4, LESS STATE ROAD RIGHT OF WAY 38.72 acres

SUMMARYThis property was sold September 6, 2017 via Pre Sale No. 8584 and Certificate of Sale No. 26749. This was a cash sale andthe property has been paid in full. Patent No. 20505 was issued on August 23, 2017.



APPROVAL - RIP 698 - RANGE IMPROVEMENTSurfaceStatus:09/18/2017 Approved by David Ure Department:DA Date:

Chamberlain, ScottDrafted By: 486ID:

CONTRACT DETAILSLessee: BUREAU OF LAND MANAGEMENT

Address: 170 SOUTH 500 EASTVERNAL, UT 84078

Administrator: Chamberlain, Scott County: Uintah Total acres: 1,350.00

Beneficiary: School

LAND PARCELS (GIS Review of Description: 06/14/2017)T4S, R19E, SLB&M Section 36 W2NW4SW4, W2W2NW4 (WITHIN) 60.00 acres

T4S, R20E, SLB&M Section 13 W2SW4 80.00 acres

T4S, R20E, SLB&M Section 14 ALL (WITHIN) 640.00 acres

T4S, R20E, SLB&M Section 15 S2N2NW4, S2N2, N2S2, NE4SW4SW4 (WITHIN) 370.00 acres

T4S, R20E, SLB&M Section 16 E2NE4, NE4SE4 (WITHIN) 120.00 acres

T4S, R20E, SLB&M Section 24 NW4NW4 (WITHIN) 40.00 acres

T4S, R20E, SLB&M Section 32 NW4NE4 (WITHIN) 40.00 acres

BACKGROUNDREQUESTED/PROPOSED ACTION:The applicant proposes to remove 586 acres of junipers by bullhog and 27 acres by lop and scatter. RELEVANT FACTUAL BACKGROUND:The applicant submitted a proposal for this range improvement project on 23 May 2017. The applicant is doing the project withthe assistance of the Utah Division of Wildlife Resources. The project is being done to improve sage grouse habitat. The project was submitted by the applicant to the Resource Development Coordinating Committee ("RDCC") (RDCC project#60122). No comments were received. The Agency's archaeological staff has verified that clearance was completed. A search of Agency records was made to determine the status of the areas involved. Contracts, leases, and permits in theproject areas are: GP 22202-08, GP 20993-12, ML 52757, ML 52527, ML 52515. Due to the nature of the project the mineralleases will not be affected. Grazing Permit No. 20993-12 will be required to rest the site for two (2) years.

NARRATIVEEVALUATION OF THE FACTS:This range improvement is in compliance with R850-50-1100(5)(a) and (b). The project does enhance the value of the resourcespursuant to R850-50-1100(5)(c).

FINANCIAL/REVENUEThe project cost on trust lands is valued at $201,000.00. Because the applicant is not the permittee of record, the project will notbe eligible for amortization. The project is being funded by the Bureau of Land Management and the Sage Grouse Initiative.Note: the life of the project (the benefit) is 20 years.

SUMMARYThis range improvement project to remove 586 acres of junipers by bullhog and 27 acres by lop and scatter was approved.



ROE 6476 - RIGHT OF ENTRYSurfaceStatus:09/18/2017 Approved by David Ure Department:DA Date:

Colyar, TamraDrafted By: 491ID:

CONTRACT DETAILSPermittee: TRAIL PRODUCTIONS INC

Address: PO BOX 1366AULT, CO 80610

Administrator: Torgerson, Bryan County: Grand Total acres: 53,788.09

Beneficiary: School 50,714.77 ac (94.29%);Utah State University 3,073.32 ac (5.71%)

LAND PARCELS (GIS Review of Description: 08/09/2017)T26S, R21E, SLB&M Section 33 DEFAULT PARCEL FOR GRAND AND SAN JUAN JEEP SAFARI

ROUTES50,714. acres

T26S, R25E, SLB&M Section 2 DEFAULT PARCEL FOR JEEP SAFARI ROUTES 3,073.3 acres

SUMMARYOn August 9, 2017, an application was received for a right-of-entry permit for a four-wheel drive event with a beginning date ofSeptember 8, 2017, and an ending date of September 10, 2017. The rental assessment is $300.00, plus a $50.00 applicationfee and a $50.00 processing fee. The permittee shall also pay 3% of their gross receipts, or $4.00 per participant/per day,whichever is greater, within 30 days of the permit expiration date.

This right of entry was approved by the Resource Specialist based on the terms of the permit and the Delegation of Authorityreceived from the Director.





CONTRACT DETAILSLessee: BONNEVILLE OFFROAD RACING, LLC

Address: 446 W WESTFIELD ROADALPINE, UT 84004

Administrator: Bagley, Gary County: Tooele Total acres: 1,920.68

Beneficiary: School

LAND PARCELS (GIS Review of Description: 09/11/2017)T1S, R12W, SLB&M Section 32 (WITHIN) 640.00 acres

T1S, R13W, SLB&M Section 36 (WITHIN) 640.00 acres

T2S, R13W, SLB&M Section 2 (WITHIN) 640.68 acres

SUMMARYOn September 6, 2017, an application was received from Bonneville OffRoad Racing, LLC, for a right-of-entry permit for an off-highway vehicle race. The permit is for a one-day period: September 9, 2017. The rental assessment charge is $400.00, whichexceeds the rate of the percentage of gross revenue of participant's fees. There is also a $50.00 application fee and a $50.00processing fee, totaling $500.00.

The race is primarily on federal land, within the existing Knolls Recreational Area managed by the Bureau of Land Management("BLM"), which is the lead agency for this activity. Only a small portion of the planned race course is on trust lands. The Trustcoordinated with the BLM regarding the race route, and verified that the affected area has been previously designated for thistype of activity and has no effect on cultural resources. Appropriate insurance was provided for the event.






CONTRACT DETAILSLessee: BEAR 100, INC

Address: 1471 W. HWY 218SMITHFIELD, UT 84335

Administrator: Bagley, Gary County: Cache Total acres: 1,046.32

Beneficiary: Institution for the Blind 20.00 ac (1.91%);School 1,026.32 ac (98.09%)

LAND PARCELS (GIS Review of Description: 08/30/2017)T14N, R3E, SLB&M Section 1 W2N2S2, SE4 (WITHIN) 80.00 acres

T14N, R3E, SLB&M Section 2 W2NE4SE4 (WITHIN) 20.00 acres

T14N, R4E, SLB&M Section 6 LOTS 6, 7, E2SW4, SE4 315.32 acres

T14N, R4E, SLB&M Section 7 LOTS 1-4, E2W2, E2 (ALL) 631.00 acres

SUMMARYOn August 17, 2017, an application was received from Bear 100, Inc., for a right-of-entry permit for a back-country endurancerace known as the Bear 100. A small portion of the race route crosses trust lands on existing roads and trails. The permit is forthe following two-day period: September 29 and 30, 2017. The rental assessment is $370.00, plus a $50.00 application fee anda $50.00 processing fee, totaling $470.00.




COMPLETION OF NEGOTIATED SALE - PS 8584 - C-26749SurfaceStatus:09/18/2017 Approved by David Ure Department:DA Date:

Lund, DianeDrafted By: 440ID:

CONTRACT DETAILSLessee: BEAVER COUNTY

Address: 105 EAST CENTER STREETPO BOX 789BEAVER, UT 84713

Administrator: Brown, Lou County: Beaver Total acres: 38.72

Beneficiary: Reservoirs

LAND PARCELS (GIS Review of Description: 05/17/2016)T30S, R9W, SLB&M Section 8 SE4NW4, LESS STATE ROAD RIGHT OF WAY 38.72 acres

BACKGROUNDThis property was sold through a negotiated sale on September 6, 2017.

NARRATIVEMINERAL LEASES GIVEN UP: None

SURFACE LEASES GIVEN UP: None

MINERAL RESERVATIONS:There is reserved to the State of Utah all coal; oil, gas, and other hydrocarbons; and other mineral deposits, along with the rightfor the School and Institutional Trust Lands Administration or other authorized persons to prospect for, mine, and remove thedeposits.

SURFACE RESERVATIONS:There is reserved to the School and Institutional Trust Lands Administration and its successors in interest, lessees andpermittees, an access and utility easement across the parcel as may be necessary and reasonable to access landsadministered by the School and Institutional Trust Lands Administration.

CULTURAL RESOURCES:A cultural resource survey has been conducted on the subject property. No significant sites were identified.

FINANCIAL/REVENUESale Price: $63,000.00Terms of Sale: CASH SALE

Appraisal: $2,250.00Legal Advertising: $275.00Processing Charge: $400.00Application Fee: $250.00

TOTAL FEES PAID: $3,175.00

SUMMARYThis property was sold through a negotiated sale on September 6, 2017 for a sale price of $63,000.00. It was a cash sale andthe purchaser was Beaver County.



FIRST AMENDMENT - DEVL 1046 - DEVELOPMENT LEASEDevelopmentStatus:09/18/2017 Approved by David Ure Department:DA Date:

Roe, AlanDrafted By: 464ID:

CONTRACT DETAILSLessee: BRENNAN HOLDINGS NO. 100, LLC

Address: P.O.BOX 1991SUN VALLEY, ID 83353

Administrator: Pasley, Kyle County: Washington Total acres: 190.34



Project Code: GRSPG 003 00 000 Project Name: Green Springs / West 135 acres

BACKGROUNDThis Development Lease allows the lessee to develop 294 improved residential lots on the lease premises at its expense. TheBoard of Trustees approved this lease on September 26, 2013. At the sale of each improved lot to a third-party purchaser, thedeveloper pays 35% of the gross sales price to the School and Institutional Trust Lands Administration ("SITLA"), subject tocertain minimum lot prices.

NARRATIVEOne (1) of the subdivisions, the Villas at Green Spring, will be developed with a higher density than originally anticipated. Thehigher densities will result in greater revenue, but will also require increased spending on infrastructure by the lessee. Due tothis increased spending, the percentage payment for lot sales will be lowered from 35% to 25%. The minimum lot prices for theVillas at Green Spring will be $75,000.00 for 5,000-square foot lots and $105,000.00 for 10,000-square foot lots. Revenue forSITLA is estimated to increase by $300,000 as a result of this change. The Board of Trustees was notified of the amendment byemail message on July 19, 2017.

This amendment also provides that SITLA retains its right to enter and control the leased property until active developmentstarts. This provision will reduce the privilege tax liability of the lessee.

SUMMARYThis amendment sets the minnimum lot prices for lots in the Villlas at Green Spring subdivision and changes certain conditionsof the lease.



CORRECTION - C 26699 - DEVELOPMENT SALEDevelopmentStatus:09/18/2017 Approved by David Ure Department:DA Date:


CONTRACT DETAILSLessee: PATHWAY PARTNERS, LLC

Address: 1245 SOUTH MAIN STREETST. GEORGE, UT 84770

Administrator: Langston, Aaron County: Washington Total acres: 1.62


Patent Number: P-20504 Patent Date: 08/14/2017

Project Code: MPI13 002 00 09A 000 Project Name: Sienna Hills Parcel 9A

LAND PARCELS (GIS Review of Description: 08/29/2017)T42S, R15W, SLB&M Section 12 PARCELS G & H OF THE SIENNA HILLS SHOPPING CENTER PHASE 1 1.62 acres

NARRATIVEThe Director's Actions of September 5, 2017 (ID #404), contained an incorrect sales price of $493,936.80. The correct salesprice is $463,936.80.

SUMMARYAn incorrect sales price was listed in the original DA item it has been corrected to reflect the correct sales price of $463,936.80.



CLOSURE OF TRUST LANDS - PRED 851DevelopmentStatus:09/18/2017 Approved by David Ure Department:DA Date:


CONTRACT DETAILSLessee: INTERNAL TRUST LANDS ADMINISTRATION

Address: 675 EAST 500 SOUTHSUITE 500SALT LAKE CITY, UT 84025

Administrator: Pasley, Kyle County: Washington Total acres: 2,623.14

Beneficiary: School

LAND PARCELS (GIS Review of Description: 09/12/2017)T42S, R16W, SLB&M Section 34 W2SW4, SE4SW4, SW4SE4 160.00 acres

T43S, R16W, SLB&M Section 11 N2N2, LESS PREVIOUSLY SOLD PORTIONS 115.92 acres

T43S, R16W, SLB&M Section 11 S2NW4 LESS PREVIOUSLY SOLD PORTIONS 79.23 acres

T43S, R16W, SLB&M Section 11 W2SW4 80.00 acres

T43S, R16W, SLB&M Section 11 M&B WITHIN S2 3.83 acres

T43S, R16W, SLB&M Section 12 N2NW4 AND LOT 3 LESS PREVIOUSLY SOLD PORTIONS 119.73 acres

T43S, R16W, SLB&M Section 15 N2, LESS PREVIOUSLY SOLD PORTIONS 319.75 acres

T43S, R16W, SLB&M Section 16 W2, W2E2, E2NE4, NE4SE4 600.00 acres

T43S, R16W, SLB&M Section 2 LOTS 4, 5, 6, 11, 12, 13, 14 LESS PREVIOUSLY SOLD PORTIONS 273.66 acres

T43S, R16W, SLB&M Section 3 ALL LESS PREVIOUSLY SOLD PORTIONS 631.02 acres

T43S, R16W, SLB&M Section 4 SE4, S2NE4 240.00 acres

NARRATIVEA Director's Finding was signed pursuant to Utah Code 53C-1-302 and 53C-2-105, which grants the Director broad authority tomanage trust lands in a manner which is in the best interest of the Beneficiaries. This closure is determined to be in the best interest of the beneficiaries for the following reasons:1. Continued surface use will cause resource degradation and diminished value of the ground for planning and developmentpurposes. 2. Continued surface use by the public will cause a threat to public safety as a result of long term occupancy, safety, andsanitation issues related to overnight use.

SUMMARYThe Tonaquint Block is closed for overnight camping in order to prevent resource degradation and safety risks associated withit.



SUBDIVISION LOT SALE - SUBD 10 ADevelopmentStatus:09/18/2017 Approved by David Ure Department:DA Date:


CONTRACT DETAILSLessee: JACK FISHER CONSTRUCTION OF SOUTHERN UTAH, LLC

Address: 1148 WEST LEGACY CROSSINGBOULEVARDSUITE 400CENTERVILLE, UT 84014

Administrator: Pasley, Kyle County: Washington Total acres: 232.66

Beneficiary: Miners Hospital 74.68 ac (32.10%);School 149.04 ac (64.06%);Utah State University 8.94 ac (3.84%)

Project Code: SUNCR 004 02 000 Project Name: Coral Canyon Black Ridge Lots

Developer: Jack Fisher Subdivision: Highland Park Phase 1 at the Coral Canyon Comm

SUBDIVISION LOCATION (GIS Review of Description: 10/04/2010)T42S, R14W, SLB&M Section 18 HIGHLAND PARK PHASE 1 42.34 acres

T42S, R14W, SLB&M Section 7 HIGHLAND PARK PHASE 1 WITHIN CORAL CANYON 190.32 acres

LOTS SOLDLOT 188 0.20 acres Certificate of Sale: C-26634-10-188 Patent: P-20361-10-188

Beneficiary: School Certificate Date: 08/10/2017 Patent Date: 07/28/2017

Lot Price: $47,830.00 Fees: $0.00

NARRATIVEThis lot is sold pursuant to the terms of DEVL 1075, which provides for the development of the remaining 790 acres in CoralCanyon, including the remaining 22 finished lots in Highland Park. The development lease was approved by the School &Institutional Trust Lands Board of Trustees on May 28, 2015.

The minimum lot price for Lot 188 is $48,000.00. A true up payment will be made when the finished home gets sold to a third-party buyer. The true up payment will bring the total lot price up to the minimum price, or up to 20% of the home price, if this ishigher than the minimum price.

SUMMARYLot 188 has been sold.



INTEREST RATEAccountingStatus:09/18/2017 Approved by David Ure Department:DA Date:

Babinsky, MichaelDrafted By: 517ID:

FINANCIAL/REVENUEFollowing are the current and past year prime rates:

CURRENT YEAR: 4.25% ONE YEAR AGO: 3.50%

Separately, a late penalty of 6% or $30.00, whichever is greater, shall be charged after failure to pay any financial obligation,excluding royalties as provided in R850-5-300(2), within the time limit under which such payment is due.

Interest on delinquent royalties shall be based on the prime rate of interest at the beginning of each month, plus 4%.



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