CONTRACTS DETAILS - Trust Lands Administration of Utah School and Institutional Trust Lands...

SEALED BIDS - 07/31/2017 - METALLIFEROUS MINERALS - LEASE APPROVALSCoal & MineralStatus:08/14/2017 Approved by David Ure Department:DA Date:

Hale, AlyDrafted By: 304ID:

CONTRACTS DETAILSML 53595 Unit: 47 Total Acres: 317.47

Lessee: SMOOT, JONATHAN

Address: 4074 MONARCH WAY Administrator: Mansfield, JerrySALT LAKE CITY, UT 84124

Winning Bid: $540.60

Other Bids: None

Beneficiary: School

County: Grand

T16S, R24E, Section 4: LOTS 3(39.67), 4(38.86), 5(39.45), 6(39.62), 7(39.87), SE4NW4, E2SW4 [LOTS AKA N2NW4,SW4NW4, W2SW4]

ML 53596 Unit: 49 Total Acres: 640.00

Lessee: ANFIELD RESOURCES HOLDING CORP.

Address: PO BOX 901537 Administrator: Mansfield, JerrySANDY, UT 84090


Other Bids: None

Beneficiary: School

County: San Juan

T28S, R26E, Section 32: ALL





Other Bids: None

Beneficiary: School

County: San Juan

T29S, R24E, Section 16: LOTS 1(37.57), 2(37.23), 3(36.91), 4(36.59), 5(36.62), 6(36.95), 7(37.27), 8(37.60) [AKA S2][MINERALS BELOW 500 FEET]


State of Utah School and Institutional Trust Lands Administration of 4Form 5

SEALED BIDS - 07/31/2017 - METALLIFEROUS MINERALS - LEASE APPROVALS (Continued)ML 53598 Unit: 51 Total Acres: 440.00




Other Bids: None

Beneficiary: School

County: San Juan

T29.5S, R24E, Section 36: N2NE4, W2, SW4SE4





Other Bids: None

Beneficiary: School

County: Garfield


ML 53600 Unit: 53 Total Acres: 1,136.24



Winning Bid: $1,137.00

Other Bids: None

Beneficiary: School

County: San Juan

T31S, R24E, Section 2: LOTS 1(44.26), 2(44.12), 3(44.00), 4(43.86), S2N2, S2 [ALL]

T31S, R24E, Section 36: S2

T31S, R25E, Section 32: NW4






Other Bids: None

Beneficiary: School

County: San Juan

T32S, R24E, Section 2: LOTS 1(42.04), 2(41.99), 3(41.95), 4(41.90), 5(40.00), 6(40.00), 7(40.00), 8(40.00), 9(40.00),10(40.00), 11(40.00), 12(40.00), 13(40.00), 14(40.00), 15(40.00), 16(40.00) [AKA N2]





Other Bids: None

Beneficiary: School

County: San Juan

T32S, R26E, Section 16: SE4





Other Bids: None

Beneficiary: School

County: Garfield







Other Bids: None

Beneficiary: University of Utah

County: Garfield

T36S, R11E, Section 3: LOT 4 [NW4NW4]

T36S, R11E, Section 4: LOTS 1(34.88), 2(34.88), N2S2NE4 [LOTS AKA N2NE4]


Lessee: BRO ENERGY, LLC

Address: 4834 S. HIGHLAND DRIVE, SUITE 200 Administrator: Mansfield, JerrySALT LAKE CITY, UT 84117


Other Bids: None

Beneficiary: School

County: Tooele

T2S, R6W, Section 7: LOTS 3(44.12), 4(44.13), NE4SE4 [LOTS AKA W2SE4]

NARRATIVEApplications were offered for Metalliferous Minerals leasing on lands offered on the July 2017 Competitive Bid Offering. Bidswere opened July 31, 2017, at 10:00 a.m. Bids were offered including the first-year's rental at a minimum annual rental rate of$500.00 per lease or $1 per acre, whichever is greater. Lease terms include a royalty rate of 8% for fissionable metalliferousminerals and 4% for non-fissionable metalliferous minerals, and a primary lease term of 10 years, unless otherwise specified forthe individual leasing unit. These rates are provided in the lease form approved by the Director of the School and InstitutionalTrust Lands Administration (“SITLA”). These applications have been checked by the Minerals Group and found to be in order.The lease administrator has had the legal descriptions reviewed by the GIS Group. The land status has been examined and thelands found to be open and available. The Business System and digital plat books will be updated to show these leaseapplications as existing contracts on the lands described for each individual leasing unit.

FINANCIAL/REVENUEIn addition to the bid amount, a $30 filing fee has been forfeited to the Agency by the winning bidder.

SUMMARYEach lease receiving a bid at the July 2017 EnergyNet sealed bid online auction was awarded to the high bidder.

TYPE OF RECORD: APPROVAL


TERMINATION OF CONTRACT AND REFUND - MP 565 - SAND & GRAVELCoal & MineralStatus:08/14/2017 Approved by David Ure Department:DA Date:

Bedingfield, AndrewDrafted By: 288ID:

CONTRACT DETAILSPermittee: BROWN BROTHERS CONSTRUCTION

Address: P.O. BOX 249LOA, UT 84747

Administrator: Bedingfield, Andrew County: Wayne Total acres: 120.00

Start Date: 05/01/2016 Beneficiary: Deaf

Expiration Date: 04/30/2021

LAND PARCELS (GIS Review of Description: 01/19/2016)T29S, R4E, SLB&M Section 15 N2NE4, SW4NE4 120.00 acres

BACKGROUNDMaterials Permit 565 was approved on March 28, 2016 for a term of five (5) years for the removal of ordinary sand and gravelfrom the subject lands by Brown Brothers Construction. The lands are located near the town of Teasdale in Wayne County. Litigation has been on-going between the Friends of Red Rock (FORR) and Wayne County regarding the zoning and permittingof these lands.

NARRATIVEA third party application to purchase the property was received for the subject lands, and it has been determined to be in thebest interest of the Trust to sell the subject property via land sale auction. The permittee was notified on June 14, 2017 of thecancellation of the permit. The permit may be terminated pursuant to Section 6 of the contract after 30 days from the writtennotice.

FINANCIAL/REVENUEBrown Brothers Construction shall be refunded $12,896.59 in cultural resource survey costs.

SUMMARYThe Director terminated Materials Permit No. 565 due to a potential sale of the property. The written notification acknowledgedthe time and effort expended by the permittee, and agreed to reimburse Brown Brothers Construction for the cultural resourcessurvey.


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

APPROVAL - ASSIGNMENT (OPERATING RIGHTS) - ML 1174 - OIL & GASOil & GasStatus:08/14/2017 Approved by David Ure Department:DA Date:


CONTRACT DETAILSAdministrator: Adams, Wes County: Grand Total acres: 160.00

Start Date: 01/01/1946 Beneficiary: School


Royalty Rate: 12.5%

SUMMARYAn operating rights assignment is approved for 1.4174% interest in and to this lease to Beartooth Oil & Gas Company, P.O. Box2564, Billings, MT 59103, by Oakmont Corporation. No override reserved, but subject to previously reserved overridingroyalties. Effective June 1, 2004, the School and Institutional Trust Lands Administration assumes no responsibility inreviewing, collecting, or distributing overriding royalty.



APPROVAL - ASSIGNMENT (OPERATING RIGHTS) - ML 21220 - OIL GAS &HYDROCARBON

Oil & GasStatus:08/14/2017 Approved by David Ure Department:DA Date:





Royalty Rate: 12.5%

SUMMARYAn operating rights assignment is approved for 3.0137% interest in and to this lease to Beartooth Oil & Gas Company, P.O. Box2564, Billings, MT 59103, by Oakmont Corporation. No override reserved, but subject to previously reserved overridingroyalties. Effective June 1, 2004, the School and Institutional Trust Lands Administration assumes no responsibility inreviewing, collecting, or distributing overriding royalty.



APPROVAL - ASSIGNMENT - ML 4189 - OIL & GASOil & GasStatus:08/14/2017 Approved by David Ure Department:DA Date:





Royalty Rate: 12.5%

SUMMARYA record title assignment is approved for 2.2498649% interest in and to this lease to Beartooth Oil & Gas Company, P.O. Box2564, Billings, MT 59103, by Oakmont Corporation. No override reserved, but subject to previously reserved overridingroyalties. Effective June 1, 2004, the School and Institutional Trust Lands Administration assumes no responsibility inreviewing, collecting, or distributing overriding royalty.



RELEASE/REPLACEMENT - BOND/INSURANCE STATEWIDE - OIL & GASOil & GasStatus:08/14/2017 Approved by David Ure Department:DA Date:

Alldredge, DavidDrafted By: 302ID:

BOND / INSURANCE DETAILSPrincipal Name: Paradox Upstream, LLC (OG) Bond Type: Surety Bond

Amount: $15,000.00 Effective Date: 07/20/2017

Reference Number: PB00202100060

Issued By: Philadelphia Indemnity Insurance Company

NARRATIVEEffective January 1, 2017, Paradox Resources, LLC, 600 Travis Street, Suite 300, Houston, TX 77002, entered into anagreement with CCI Paradox Upstream, LLC, 2200 Atlantic Street, 8th floor, Stamford, CT 06902, to acquire their oil & gasassets on trust lands in Utah.

SUMMARYOn August 1, 2017, Paradox Resources, LLC submitted a statewide bond, No. PB00202100060, in the amount of $15,000 tocover their oil and gas drilling and production operations on trust lands in Utah. This bond was issued by Philadelphia IndemnityInsurance Company, Three Bala Plaza East, Suite 400, Bala Cynwyd, PA 19004. Philadelphia Indemnity Insurance Company israted A++(superior) by A.M. Best Rating Services Company. The agency will release the CCI Paradox Upstream, LLC statewide bond No. 105865924 issued by Travelers Casualty andSurety Company of America, One Tower Square, Hartford, CT 06183, and replace it with the aforementioned statewide bond,No. PB00202100060.



SEALED BID - 07/31/2017 - OIL GAS & ASSOCIATED HYDROCARBONS - LEASEAPPROVALS



CONTRACTS DETAILSML 53562 Unit: 1 Total Acres: 658.84


Address: 4834 S. HIGHLAND DRIVE, SUITE 200 Administrator: Adams, WesSALT LAKE CITY, UT 84117


CRESCENT POINT $20,429.00

ROBERT L. BAYLESS, $6,267.09

Other Bids:

Beneficiary: School

County: Uintah

T5S, R20E, Section 32: LOTS 1(45.11), 2(44.84), 3(44.58), 4(44.31), N2, N2S2 [ALL]






RETAMCO $2,540.00

LASRICH, LANE $2,357.12

Other Bids:

Beneficiary: School

County: Uintah



Lessee: CRESCENT POINT ENERGY, U.S. CORP.

Address: 555 17TH STREET Administrator: Adams, WesSUITE 1800DENVER, CO 80202


BRO ENERGY, LLC $10,240.00

ROBERT L. BAYLESS, $2,886.40

RETAMCO $1,920.00

Other Bids:

Beneficiary: School

County: Uintah




(Continued)





RETAMCO $3,200.00

LASRICH, LANE $2,329.60

ANDERSON OIL LTD. $1,920.00

Other Bids:

Beneficiary: School

County: Uintah



Lessee: QEP ENERGY COMPANY

Address: 1050 17TH STREET, SUITE 800 Administrator: Adams, WesDENVER, CO 80265


BRO ENERGY, LLC $2,272.00Other Bids:

Beneficiary: School

County: Duchesne



Lessee: BASELINE MINERALS, INC.

Address: 445 UNION BOULEVARD, SUITE 307 Administrator: Adams, WesLAKEWOOD, CO 80228


DUDLEY LAND $3,232.00


Other Bids:

Beneficiary: School

County: Uintah




(Continued)





ANDERSON OIL LTD. $1,680.00Other Bids:

Beneficiary: School

County: Uintah

T11S, R24E, Section 32: N2NE4, SE4NE4, W2, W2SE4, SE4SE4





DUDLEY LAND $3,237.05


Other Bids:

Beneficiary: School

County: Uintah



Lessee: WEM DRAGON, LLC

Address: 1411 EAST 840 NORTH Administrator: Adams, WesOREM, UT 84097


Other Bids: None

Beneficiary: School

County: Carbon

T14S, R13E, Section 36: LOTS 1(40.25), 2(40.75), 3(40.96), 4(40.67), 5(39.98), 6(40.69), 7(41.94), W2NE4, NW4, N2SW4,NW4SE4 [ALL]



(Continued)





BRO ENERGY, LLC $1,725.30Other Bids:

Beneficiary: Institution for the Blind 88.18 ac (18.16%);School 397.49 ac (81.84%)

County: Carbon

T15S, R11E, Section 16: LOTS 3(38.72), 4(38.77), N2NE4, SE4NE4, NE4NW4, S2S2 [LOTS AKA N2SW4]

T15S, R11E, Section 8: PART OF SW4NE4, PART OF SE4NW4, PART OF NE4SW4, PART OF NW4SE4 [METES &BOUNDS]





Other Bids: None

Beneficiary: School

County: Carbon

T15S, R11E, Section 32: E2, E2SW4, SW4SW4





Other Bids: None

Beneficiary: School

County: Carbon

T15S, R13E, Section 7: LOTS 4(40.09), E2SW4, SE4 [LOTS AKA SW4SW4]

T15S, R13E, Section 8: SE4NW4, S2



(Continued)





Other Bids: None

Beneficiary: School

County: Carbon






Other Bids: None

Beneficiary: School

County: Carbon

T15S, R13E, Section 17: SW4NW4

T15S, R13E, Section 18: LOTS 1(40.06), 2(40.19), 3(40.31), 4(40.44), NE4, E2W2 [LOTS AKA W2W2]

T15S, R13E, Section 19: LOT 1 [NW4NW4]





Other Bids: None

Beneficiary: School

County: Emery

T16S, R11E, Section 32: NE4NE4, S2N2, NW4NW4, SW4, SE4SE4



(Continued)


Lessee: ROCKIES STANDARD OIL COMPANY, LLC



RETAMCO $1,920.00


Other Bids:

Beneficiary: School

County: Grand



Lessee: RETAMCO OPERATING, INC.

Address: P. O. BOX 790 Administrator: Adams, WesRED LODGE, MT 59068


ROCKIES STANDARD $2,668.80Other Bids:

Beneficiary: School

County: Grand






Other Bids: None

Beneficiary: School

County: Grand




(Continued)





Other Bids: None

Beneficiary: School

County: Grand






Other Bids: None

Beneficiary: School

County: Grand






Other Bids: None

Beneficiary: School

County: Grand






Other Bids: None

Beneficiary: School

County: Grand




(Continued)





Other Bids: None

Beneficiary: School

County: Grand






Other Bids: None

Beneficiary: School

County: Grand



Lessee: S.T.L. RESOURCES, LLC

Address: 4202 SPENCER ST. Administrator: Adams, WesHOUSTON, TX 77007


Other Bids: None

Beneficiary: Normal School 320.00 ac (61.54%);Utah State University 200.00 ac (38.46%)

County: Garfield

T35S, R3E, Section 28: SW4NW4

T35S, R3E, Section 28: SW4

T35S, R3E, Section 29: NW4NE4, S2NE4, NE4NW4

T35S, R3E, Section 29: SE4



(Continued)


Lessee: S.T.L. RESOURCES, LLC

Address: 4202 SPENCER ST. Administrator: Adams, WesHOUSTON, TX 77007


Other Bids: None

Beneficiary: School

County: Garfield

T35S, R3E, Section 32: LOTS 1(40.59), 2(40.90), 4-NE4SW4(41.20), 4-SW4SW4(40.57), 5(41.99), W2NW4, NW4SW4[LOTS AKA E2W2, SW4SW4]





Other Bids: None

Beneficiary: School of Mines

County: Uintah

T1S, R1E, USM Section 1: E2SW4SE4, SE4SE4


Lessee: HLR OIL AND GAS, LLC

Address: 159 N WOLCOTT STE 400 Administrator: Adams, WesCASPER, WY 82601




ANDERSON OIL LTD. $400.80

RETAMCO $240.00

CAPITAL STREET $160.00

Other Bids:

Beneficiary: School

County: Uintah

T3S, R2E, USM Section 14: W2SW4



(Continued)





Other Bids: None

Beneficiary: School

County: Duchesne

T2S, R7W, USM Section 11: N2





ANDERSON OIL LTD. $321.60Other Bids:

Beneficiary: School

County: Duchesne

T4S, R8W, USM Section 1: SE4SW4, W2W2NE4SE4, W2SE4, N2SE4SE4, SE4SE4SE4





Other Bids: None

Beneficiary: School

County: Uintah

T1N, R1E, USM Section 22: NE4, N2NW4, SE4NW4, N2SW4, SE4SW4, N2SE4, SE4SE4




Winning Bid: $80.40

Other Bids: None

Beneficiary: School

County: Uintah

T1N, R1E, USM Section 35: NE4SW4



(Continued)





Other Bids: None

Beneficiary: University of Utah

County: Uintah

T1N, R1E, USM Section 36: NW4, PART OF SW4 [METES & BOUNDS]

NARRATIVEApplications were offered for Oil, Gas, and Associated Hydrocarbons leasing on lands offered on the July 2017 Competitive BidOffering. Bids were opened July 31, 2017, at 10:00 a.m. Bids were offered with the first-year's rental at a minimum annual rentalrate of $2.00 per acre. Lease terms include a royalty rate of 16-2/3%, and a primary lease term of five (5) years, unlessotherwise specified for the individual leasing unit. Unit No. 40, ML 53589, was offered at 18.75% landowner royalty. These ratesare provided in the lease form approved by the Director of the School and Institutional Trust Lands Administration (“SITLA”).These applications have been checked by the Oil and Gas Group and found to be in order. The lease administrator has had thelegal descriptions reviewed by the GIS Group. The land status has been examined and the lands found to be open andavailable. The Business System and digital plat books will be updated to show these lease applications as existing contracts onthe lands described for each individual leasing unit.

In compliance with the SITLA statute on the matter of identical bids at 53C-2-407(2)(d), Unit No. 3, ML 53563, has beenawarded to BRO Energy, LLC by drawing.

FINANCIAL/REVENUEIn addition to the bid amount, a $30.00 filing fee has been forfeited to the Agency by the winning bidder.

SUMMARYEach lease receiving a bid at the July 2017 EnergyNet sealed bid online auction was awarded to the high bidder.



APPROVAL - ASSIGNMENT (RECORD TITLE) - AVAD UTAH, LLC, ET AL. BYANADARKO E&P ONSHORE LLC



CONTRACT NAME BENE TYPECOUNTYML 45801 ANADARKO E&P

ONSHORE LLCSCH CARB O&G

ML 45802 ANADARKO E&PONSHORE LLC

SCH CARB O&G


SCH CARB O&G


SCH CARB O&G


SCH CARB O&G


SCH EMRY O&G


SCH CARB O&G


SCH EMRY O&G


SCH CARB O&G


SCH EMRY O&G


SCH CARB O&G

ML 48189 CONOCOPHILLIPS LEDA, MGT, SCH EMRY O&G


LEDA, MGT, SCH EMRY O&G



ML 48217 A ANADARKO E&PONSHORE LLC


ML 48220 A ANADARKO E&PONSHORE LLC


ML 48226 ANADARKOPETROLEUM CORP

LEDA, MGT, SCH CARB O&G


LEDA, MGT, SCH CARB O&G








SCH CARB O&G


SCH CARB O&G


SCH CARB O&G

SUMMARYA record title assignment is approved for 100% interest in and to the lease(s) from Anadarko E&P Onshore LLC to the entitiesas listed below. No override reserved.


APPROVAL - ASSIGNMENT (RECORD TITLE) - AVAD UTAH, LLC, ET AL. BYANADARKO E&P ONSHORE LLC

(Continued)

70.000000% AVAD Utah, LLC, 500 N. Akard Street, Suite 2860, Dallas, TX 7520122.260800% Vendera Management III, LLC, 2602 McKinney Avenue, Suite 200, Dallas, TX 75204 7.739200% Vendera Resources III, LP, 2602 McKinney Avenue, Suite 200, Dallas, TX 75204



FEE WAIVERSOil & GasStatus:08/14/2017 Approved by David Ure Department:DA Date:

Adams, WesDrafted By: 306ID:

CONTRACT NAME BENE TYPECOUNTYML 47977 OBA MARATHON OIL

COMPANYSCH CARB O&G

ML 47978 OBA MARATHON OILCOMPANY

SCH CARB O&G

FINANCIAL/REVENUEA waiver of late fees should be applied to ML 47978 in the amount of $604.80, and for ML 47977 in the amount of $518.40.

SUMMARYMarathon Oil Company ("Marathon") has assigned all its interest in leases ML 47978 and ML 47977 to Coastal Plains Energy,Inc. ("Coastal") via assignment dated December 1, 2016. A delay in approval of assignments by the Agency, due to pendingcorrections from Marathon, created ambiguity on lease ownership for rental and minimum royalty payments due July 1, 2017,causing late fees in the amount of $604.80 for ML 47978, and $518.40 for ML 47977. Coastal has agreed to make the saidrental and minimum royalty payments by check via overnight mail. The Agency has agreed to waive the stated late fees.



APPROVAL - ASSIGNMENT (OPERATING RIGHTS) - AVAD UTAH, LLC, ET AL. BYKERR-MCGEE OIL & GAS ONSHORE LP



CONTRACT NAME BENE TYPECOUNTYML 48134 KERR-MCGEE OIL &

GAS ONSHORE LPSCH CARB O&G

ML 48135 KERR-MCGEE OIL &GAS ONSHORE LP

SCH CARB O&G

SUMMARYAn operating rights assignment is approved for 90% interest in and to the lease(s) from Kerr-McGee Oil & Gas Onshore LP tothe entities as listed below. No override reserved. 63.000000% AVAD Utah, LLC, 500 N. Akard Street, Suite 2860, Dallas, TX 75201 20.034720% Vendera Management III, LLC, 2602 McKinney Avenue, Suite 200, Dallas, TX 75204 6.965280% Vendera Resources III, LP, 2602 McKinney Avenue, Suite 200, Dallas, TX 75204



AMENDMENT - SULA 962 - COMMERCIALSurfaceStatus:08/14/2017 Approved by David Ure Department:DA Date:

Torgerson, BryanDrafted By: 119ID:

CONTRACT DETAILSLessee: HANDLEBAR RANCH, LLC

Address: 3060 NORTH VALLEY PIKEROCKINGHAM, VA 22802

Administrator: Torgerson, Bryan County: Grand Total acres: 45.00



LAND PARCELS (GIS Review of Description: 07/26/2017)T25S, R20E, SLB&M Section 2 E2SE4 (SEE MEETS AND BOUNDS) 45.00 acres

BACKGROUNDOn June 1, 1998, Alan and Valerie Brown, dba Bar-M Chuckwagon, P.O. Box 724, Moab, UT 84532, entered into SULA 962 forthe purpose of operating a live western show and cowboy supper theater. SULA 962 had an original term of 51 years. OnFebruary 14, 2017, Alan and Valerie Brown assigned all of their interests in SULA 962 to Handlebar Ranch, LLC.

NARRATIVESULA 962 originally contained 30.11 acres. The new lessee desires to add additional lands to the lease, increasing the totalleased lands to 45 acres which would be allowed pursuant to R850-30-1000(1)(e). The additional lands were surveyed forcultural resources and two sites were identified. They will be protected by covenant in the amended and restated contract.Therefore, adding the additional lands to the lease will have no impacts to cultural resources as per R850-60-800(1)(c).

They also desire to utilize the property for a full-service resort servicing the mountain biking market. The Trust desires to amendand restate this lease in its entirety to make sure the property is properly developed and utilized to maximize revenues andbenefits for the Trust.

The lease will be extended with a new 51-year term. It will begin August 1, 2017 and expire July 31, 2068. However, as acondition to such an extension, the lessee must agree to invest $2,000,000.00 in permanent improvements on the subjectproperty. The improvements shall be constructed within eight (8) years from the effective date of the assignment. In the eventinvestment obligations are not fulfilled, the lease term will automatically be reduced proportionately to the amount not invested.

The lease amendment will change the lease uses as follows: (a) approximately 100 guest rooms with ancillary facilities; (b)camping/RV sites; (c) convenience store and food services; (d) bike storage and maintenance facilities, (e) pool and hot tub, (f)shuttle and guide services, (g) employee housing, and (h) other resort-related activities. All permitted uses shall be approved byGrand County and in writing by the Trust after the lessee submits a development master plan for approval. The lease willcontain a continuous operations clause that requires the lessee to keep certain business activities open and active all year longor open during the main tourist season.

FINANCIAL/REVENUEAs per R850-30-400, the acreage increase will change the minimum rent to $9,400.00 per year. The lessee shall also pay to theTrust a percentage rent on gross receipts generated from or in connection with any permitted uses of the premises during theterm of the lease. The percentage rent shall be 3% of annual gross receipts from the activities on or related to the subjectproperty up to $1,000,000.00. The lessee shall further pay the Trust a percentage rent of 2% of the amount by which annualgross receipts exceeds $1,000,000.00.

SUMMARYUpon recommendation of Mr. Bryan Torgerson the Director approved the amended SULA 962 and the acceptance of the


AMENDMENT - SULA 962 - COMMERCIAL (Continued)$400.00 amendment fee.



APPROVAL - ASSIGNMENT - GP 22303 08 - GRAZING (STANDARD)SurfaceStatus:08/14/2017 Approved by David Ure Department:DA Date:

Stewart, SlateDrafted By: 285ID:

CONTRACT DETAILSAdministrator: Stewart, Slate County: Sevier Total acres: 40.00



AUMs: 18.00

NARRATIVEThis grazing permit will be assigned from Kelly J. Johnson, P.O. Box 54, Redmond, UT 84652 to Loni D. Hammond, P.O. Box120, Gunnison, UT 84634. The assignment is for 100% interest (18 AUMs).

The assignment fee in the amount of $180.00 has been submitted.

SUMMARYThis grazing permit was assigned from Kelly J. Johnson to Loni D. Hammond.



APPROVAL - COLLATERAL ASSIGNMENT - GP 21981 17 - GRAZING (STANDARD)SurfaceStatus:08/14/2017 Approved by David Ure Department:DA Date:


CONTRACT DETAILSAdministrator: Stewart, Slate County: Emery Total acres: 13,768.84



AUMs: 256.00

NARRATIVEKevin & Dawnette Gordon, P.O. Box 1312, Huntington, UT 84528, as the permittees of record, have requested permission tocollaterally assign their interest (100%) in the above referenced grazing permit to Cache Valley Bank, 101 North Main, Logan,UT 84323. The collateral assignment fee in the amount of $50.00 has been submitted (Receipt # RF006451).

SUMMARYGP 21981-17 was collaterally assigned to Cache Valley Bank.



RELEASE/ACCEPTANCE - BOND/INSURANCE - SULA 1307 - TELECOMMUNICATIONSurfaceStatus:08/14/2017 Approved by David Ure Department:DA Date:

Bianchi, LindaDrafted By: 244ID:

CONTRACT DETAILSLessee: QEP FIELD SERVICES, LLC

Address: 1680 WEST HWY 40SUITE 203VERNAL, UT 84078

Administrator: Bagley, Gary County: Uintah Total acres: 0.57



BOND / INSURANCE DETAILSPrincipal Name: QEP Field Services, LLC Bond Type: Surety Bond


Reference Number: 0206384

Issued By: Berkley Insurance Company

Principal Name: QUESTAR EXPLORATION & PRODUCTION COMPANY Bond Type: Surety Bond


Reference Number: 965 009 177

Issued By: LIBERTY MUTUAL INSURANCE CO.

NARRATIVEQEP Field Services, LLC, 1680 West HWY 30, Suite 203, Vernal, UT 84078, has submitted Corporate Surety Bond No.0206384 in the amount of $10,000.00, effective July 12, 2017. The bonding company is Berkley Insurance Company, 475Steamboat Road, Greenwich, CT 06830. This bond will remain in full force and in effect until released by the School andInstitutional Trust Lands Administration.

The new bond replaces Corporate Surety Bond No. 965 009 177 in the name of Questar Exploration and Production Company,and in the amount of $5,000.00 from Liberty Mutual Insurance Company, 1715 Berkeley St., Boston, MA 02117, which is herebyreleased.

SUMMARYThe Director accepted Surety Bond No. 0206384 for $10,000.00 submitted by QEP Field Services, LLC, and approved therelease of Corporate Surety Bond No. 965 009 177.



CANCELLATION OF COMPETING APPLICATIONS AND REFUND OF FEES - SULA1858 - AGRICULTURE

SurfaceStatus:08/14/2017 Approved by David Ure Department:DA Date:

Chamberlain, ScottDrafted By: 298ID:

CONTRACT DETAILSLessee: SITLA

Address: 2031 S. INDUSTRIAL PARK ROADRICHFIELD, UT 84701

Administrator: Chamberlain, Scott County: Box Elder Total acres: 180.38

Beneficiary: School

NARRATIVEThe school and Institutional Trust Lands Administration has made the determination that it is not in the Trust's best interest tolease this property at this time. Therefore, the applications for SULA 1858 should to be canceled. Two (2) applications werereceived, one (1) from Darin Noorda and Travis Wells, and another from Tomas Hall. Each application was submitted with a$250.00 application fee, which should be refunded.

SUMMARYThe applications submitted for the lease of this property have been rejected. Refunds in the amount of $250.00 should be sentto each of the following two (2) applicants: Darin Noorda and Travis Wells, 630 S 100 W, Garland, UT 84312, and Tomas Hall,3177 Jackson Avenue, Ogden, UT 84403.



CORRECTION - GP 21982 17 - GRAZING (STANDARD)SurfaceStatus:08/14/2017 Approved by David Ure Department:DA Date:

Campbell, WendyDrafted By: 280ID:

CONTRACT DETAILSLessee: HUNTINGTON, DUSTIN D

Address: P O BOX 1001CASTLE DALE, UT 84513

Administrator: Stewart, Slate County: Emery Total acres: 640.00



AUMs: 46.00

LAND PARCELS (GIS Review of Description: 03/20/2017)T19S, R9E, SLB&M Section 36 All 640.00 acres

SUMMARYDuring the renewal process the permittee requested the name and address be changed from Dickson Huntington, P.O. Box435, Castle Dale, UT 84513, to Huntington, Dustin D., P.O. Box 1001, Castle Dale, UT 84513. Since this was part of therenewal process, there were no fees assessed.

TYPE OF RECORD: RECORD KEEPING


RENEWAL OF GRAZING PERMITSurfaceStatus:08/14/2017 Approved by David Ure Department:DA Date:

Campbell, WendyDrafted By: 294ID:

PERMIT NAME BENE ACRESAUMSCOUNTYGP 22136 17 FLANIGAN LAND &

CATTLE LLCSCH GRND 270.00 5,469.19

SUMMARYRenewal has been approved for a period of 15 years, beginning July 1, 2017, and expiring June 30, 2032.



RELINQUISHMENT - GP 22387 08 - GRAZING (STANDARD)SurfaceStatus:08/14/2017 Approved by David Ure Department:DA Date:


CONTRACT DETAILSPermittee: FLANIGAN LAND & CATTLE LLC

Address: 0483 COUNTY ROAD 30SILVERTHORNE, CO 80498

Administrator: Stewart, Slate County: Grand Total acres: 4,358.55



AUMs: 171.00

NARRATIVEAt the request of the lease administrator, the permittee has agreed to relinquish this grazing permit. The lands and associatedAUMs of this grazing permit have been consolidated under GP 22136-17 through the renewal process.

SUMMARYThis grazing permit was relinquished and the lands/AUMs consolidated under GP 22136-17.



APPROVAL - ROE 6474 - RIGHT OF ENTRYSurfaceStatus:08/14/2017 Approved by David Ure Department:DA Date:

Colyar, TamraDrafted By: 289ID:

CONTRACT DETAILSPermittee: WEBSTER, GUY

Address: GT OUTFITTERSPO BOX 73340 N. LONG STREETGREEN RIVER, UT 84525

Administrator: Torgerson, Bryan County: Statewide Total acres: 640.00

Beneficiary: Deaf 1.02 ac (0.16%);Institution for the Blind 0.06 ac (0.01%);Miners Hospital 1.09 ac (0.17%);Normal School 1.02 ac (0.16%);Reservoirs 8.00 ac (1.25%);School 619.09 ac (96.73%);School of Mines 1.34 ac (0.21%);University of Utah 3.07 ac (0.48%);Utah State University 5.31 ac (0.83%)

LAND PARCELS (GIS Review of Description: 08/07/2017)T1N, R1E, SLB&M Section 1 STATEWIDE DEFAULT PARCEL FOR DISTRIBUTION ON MULTI-

BENEFICIARY640.00 acres

SUMMARYOn August 7, 2017, an application was received for a right-of-entry permit for guided hunts, with a beginning date of September1, 2017, and an ending date of August 31, 2018. The rental assessment is $300.00, plus a $50.00 application fee and a $50.00processing fee.



FIVE-YEAR REVIEW - SULA 405 - TELECOMMUNICATIONSurfaceStatus:08/14/2017 Approved by David Ure Department:DA Date:

Bagley, GaryDrafted By: 258ID:

CONTRACT DETAILSLessee: UNION PACIFIC RAILROAD COMPANY

Address: ATTN: TOM MCGOVERNMS 06401400 DOUGLAS STOMAHA, NE 68179

Administrator: Bagley, Gary County: Rich Total acres: 0.23



LAND PARCELS (GIS Review of Description: 08/07/2017)T13N, R6E, SLB&M Section 9 SE4 (WITHIN) 0.23 acres

BACKGROUNDThe authorized use of the subject parcel is for communication purposes as an integral part of the lessee's communicationnetwork. The review date is October 1, 2017.

NARRATIVEDUE DILIGENCE AND PROPER USE:The development allowed by the lease has occurred. It is recommended that the lease be kept in force. PROPER USE:The leased premises are being used in accordance with the lease agreement. ADEQUATE INSURANCE AND BOND COVERAGE:The lessee is a self-insuring company. This is an older lease and there is no provision in the lease for a performance andreclamation bond for the remainder of the term.

WATER RIGHTS AND WELLS:There are no Trust-owned water rights associated with this lease. ENVIRONMENTAL COMPLIANCE:The property was inspected and reviewed for environmental compliance in fall 2016 and will be again in August 2017. The leaseinspection indicated it would be rated as low risk. There is no evidence of underground petroleum storage tanks stored on thelease property.

FINANCIAL/REVENUEThe lease agreement provides for periodic increases in the annual base rental amount. Pursuant to the lease agreement, it isrecommended that the annual base rental be increased from $4,800.00 per year to $5,300.00 per year, effective October 1,2017.

After a preliminary analysis pursuant to Board policy, the value of comparable, unimproved properties in the area has beenestimated to be approximately $300.00 per acre. Based on this analysis, it has been determined that an appraisal is notwarranted, and that any rental increase should be tied to comparable lease rentals and/or published federal rental schedules.The existing lease is currently considered the highest and best use of a parcel of this type of land.

A certified notice was sent informing the lessee of this action.

SUMMARY


FIVE-YEAR REVIEW - SULA 405 - TELECOMMUNICATION (Continued)The annual rental has been increased from $4,800.00 to $5,300.00, effective October 1, 2017. The next five-year review will becompleted by October 1, 2022.



FIVE-YEAR REVIEW - SULA 408 - TELECOMMUNICATIONSurfaceStatus:08/14/2017 Approved by David Ure Department:DA Date:

Bagley, GaryDrafted By: 265ID:

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: 08/02/2017)T13N, R6E, SLB&M Section 9 E2 (WITHIN) 0.82 acres

BACKGROUNDThe authorized use of the subject parcel is a microwave communication tower site. The review date is October 1, 2017.

NARRATIVEDUE DILIGENCE AND PROPER USE:The development allowed by the lease has occurred. It is recommended that the lease be kept in force. PROPER USE:The leased premises are being used in accordance with the lease agreement. ADEQUATE INSURANCE AND BOND COVERAGE:The lessee has provided proof of adequate insurance coverage. The lease is an older one that does not have a provision torequire a performance and reclamation bond.

WATER RIGHTS AND WELLS:There are no Trust-owned water rights associated with this lease. ENVIRONMENTAL COMPLIANCE:The property was inspected and reviewed for environmental compliance in Fall 2016 and will be again in August 2017. Thelease inspection indicated it would be rated as low risk. There is no evidence of underground petroleum storage tanks stored onthe lease property.

FINANCIAL/REVENUEThe lease agreement provides for periodic increases in the annual base rental amount. Pursuant to the lease agreement, it isrecommended that the annual base rental be increased from $4,800.00 per year to $5,300.00 per year, effective October 1,2017.

After a preliminary analysis pursuant to Board policy, the value of comparable, unimproved properties in the area has beenestimated to be approximately $300.00 per acre. Based on this analysis, it has been determined that an appraisal is notwarranted, and that any rental increase should be tied to comparable lease rentals and/or published federal rental schedules.The existing lease is currently considered the highest and best use of a parcel of this type of land.

A certified notice was sent informing the lessee of this action. Agency staff has discussed the increase with the lessee and thelessee is submitting the increased annual rental amount.

SUMMARYThe annual rental has been increased from $4,800.00 to $5,300.00, effective October 1, 2017. The next five-year review will be


FIVE-YEAR REVIEW - SULA 408 - TELECOMMUNICATION (Continued)completed by October 1, 2022.



C 26728 - DEVELOPMENT SALEDevelopmentStatus:08/14/2017 Approved by David Ure Department:DA Date:

Roe, AlanDrafted By: 194ID:

CONTRACT DETAILSLessee: KAYENTA HOMESITES, INC.

Address: 800 NORTH KAYENTA PARKWAYIVINS, UT 84738

Administrator: Pasley, Kyle County: Washington Total acres: 2.91


Patent Number: P-20497 Patent Date: 07/10/2017

Project Code: KYNTA 001 00 000 000 Project Name: Kayenta North / DEVL 646

LAND PARCELS (GIS Review of Description: 03/28/2017)T41S, R17W, SLB&M Section 36 WITHIN NW4SW4 2.91 acres

BACKGROUNDThe Board of Trustees was notified of this sale on April 20, 2017

NARRATIVEKayenta Development approached The School and Institutional Trust Lands Administration ("SITLA") staff about purchasing a2.9-acre parcel for the purpose of constructing an access road, required landscape buffers and utility placement. The parcel istriangle shaped and segregated from the rest of SITLA's Kayenta Block by State Route 91 and an existing county road. Thesoils are mostly clay and are not conducive to vertical structures. Due to terrain and access issues the parcel has nodevelopment capacity. The parcel has been sold at appraised value and a patent has been issued to the buyer.

FINANCIAL/REVENUEThe buyer has paid $8,700.00 sales price minus closing costs.

SUMMARYSITLA has sold the parcel to Kayenta Development for a road and infrastructure right of way.



SUBDIVISION LOT SALE - SUBD 10 ADevelopmentStatus:08/14/2017 Approved by David Ure Department:DA Date:

Roe, AlanDrafted By: 284ID:

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 185 0.17 acres Certificate of Sale: C-26634-10-185 Patent: P-20361-10-185

Beneficiary: School Certificate Date: 08/01/2017 Patent Date: 07/21/2017

Lot Price: $43,830.00 Fees: $0.00

NARRATIVEThis lot is sold pursuant to the terms of DEVL 1075, which provides for the development of the remaining parcels in CoralCanyon, as well as the remaining 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 185 is $55,000.00. 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 185 has been sold.



INTEREST RATEAccountingStatus:08/14/2017 Approved by David Ure Department:DA Date:

Babinsky, MichaelDrafted By: 305ID:

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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