Status: Approved by David Ure Department...2018/12/17 · The project was submitted to the Resource...

APPROVAL - MP 624 - SAND & GRAVELCoal & MineralStatus:12/17/2018 Approved by David Ure Department:DA Date:

Bedingfield, AndrewDrafted By: 2300ID:

CONTRACT DETAILSName: TWITCHELL, STEVEN

Address: STEVEN TWITCHELL AG, LLCPO BOX 185ENTERPRISE, UT 847250185

Administrator: Bedingfield, Andrew County: Iron Total acres: 40.00

Beneficiary: School

LAND PARCELS (GIS Review of Description: 12/13/2018)T35S, R16W, SLB&M Section 33: SW4NE4 40.00 acres

BACKGROUNDThe permittee currently holds Agricultural SULA 1843 on the subject lands. He proposes to use ordinary sand and gravel fromthe subject lands in support of this pivot irrigation system on SULA 1843 and adjacent fee lands. A cultural resource survey isrequired prior to mining. The lands have been pre-designated for sand and gravel sales on a non-competitive basis (PRED 858).

SUMMARYThe Director approved the issuance of Materials Permit No. 624 for a term of one (1) year. The production royalty is $0.50 perbank cubic yard and the annual rental is $10.00/acre. The application fee of $250.00 will be collected.

TYPE OF RECORD: APPROVAL

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

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CONTRACT DETAILSName: BOX ELDER COUNTY ROAD DEPT

Address: 5730 W 8800 NTREMONTON, UT 84337

Administrator: Bedingfield, Andrew County: Box Elder Total acres: 20.00

Beneficiary: School

LAND PARCELS (GIS Review of Description: 12/04/2018)T13N, R18W, SLB&M Section 16: W2SE4SW4 20.00 acres

BACKGROUNDThis sand and gravel pit is known as the Goose Creek Road Pit. The material is historically used for local county roadmaintenance. This is an historic and on-going use of the subject lands. No additional lands will be disturbed. The lands havebeen pre-designated for sand and gravel sales on a non-competitive basis (PRED 733).

SUMMARYThe Director approved the issuance of Materials Permit No. 623 for a term of one (1) year. The production royalty is $0.50 perbank cubic yard and the annual rental is $10.00/acre.



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APPROVAL - PRED 858 - SAND & GRAVELCoal & MineralStatus:12/17/2018 Approved by David Ure Department:DA Date:


CONTRACT DETAILSName:

Address:Administrator: Bedingfield, Andrew County: Iron Total acres: 40.00

Beneficiary: School

LAND PARCELS (GIS Review of Description: 12/13/2018)T35S, R16W, SLB&M Section 33: SW4NE4 40.00 acres

NARRATIVEThe subject lands contain moderate quality sand and gravel and meet the requirements of R850-23-1400 for over-the-countersand and gravel sales. The gravel will be used by a local farmer in support of this pivot irrigation system.

SUMMARYThe Director approved PRED 858 for over-the-counter sand and gravel sales.



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CONTRACT DETAILSName: AMES CONSTRUCTION INC

Address: 3737 WEST 2100 SOUTHWEST VALLEY CITY, UT 84120

Administrator: Bedingfield, Andrew County: Utah Total acres: 653.15

Beneficiary: School

LAND PARCELS (GIS Review of Description: 12/04/2018)T6S, R1W, SLB&M Section 32: LOTS 1-7, SW4NE4, S2NW4, SW4, W2SE4 (ALL) 653.15 acres

BACKGROUNDThe applicant proposes to mine common sand and gravel from the subject lands to support local market needs. The subjectlands contain alluvial gravels along the western flank of the Lake Mountains in Utah County. The subject lands are within theincorporated city limits of Eagle Mountain City. The public notice process was completed pursuant to R850-23-500, includingpublication in a newspaper with circulation in Utah County, notification of adjoining landowners, permittees, and lessees. Nocompeting applications were received.

NARRATIVEThe proposed materials permit was sent to the Resource Development Coordinating Committee (RDCC), the MountainlandsAssociation of Governments, and the Eagle Mountain City Council for review on October 30, 2018. Comments were received bythe Division of Air Quality, Division of Wildlife Resources and Eagle Mountain City as follows:

Division of Air Quality"The proposed project may require a permit, known as an Approval Order, from the Executive Secretary of the Air QualityBoard, if PM 10 and/or other emissions exceed 5 tons per year (including emissions of heavy equipment, stationary enginesetc.) A permit application, known as a Notice of Intent (NOI), should be submitted to the Executive Secretary at the UtahDivision of Air Quality… If crushers and screens are used, this project may be subject to the federal requirements contained inNew Source Performance Standards Subpart OOOO…. The proposed project will be subject to R307-205-5: Fugitive Dust, ofthe Utah Air Quality Rules, due to the fugitive dust that may be generated during soil disturbance for the project. These rulesapply to construction activities that disturb an area greater than ¼ acre in size. A permit known as an Approval Order, is notrequired from the Executive Secretary of the Air Quality Board, but steps need to be taken to minimize fugitive dust, such aswatering and/or chemical stabilization, providing vegetative or synthetic cover or windbreaks..."

Division of Wildlife Resources

"UDWR biologists concluded that the creation of a new gravel pit would cause the loss of valued winter habitat for mule deerand pronghorn, as well as potential nesting habitat for raptors, including golden eagles and ferruginous hawks. UDWRbiologists have witnessed golden eagles and ferruginous hawks using the habitat in this location." "Timing of new surfacedisturbance should be limited to periods outside of the nesting season (March-July) for raptors and other breeding birds."

Eagle Mountain City

• Permitee will need to obtain an excavation permit from the City prior to excavating and removing any material from the site. Permit application would require a final grading plan. • Permittee will need to obtain a permit from the Utah State Division of Oil, Gas and Mining, place any required reclamationbonds, or provide the City with a letter from DOGM stating that they do not consider the operation to be a mining facility


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APPROVAL - MP 622 - SAND & GRAVEL (Continued) • Permitee will need to coordinate with MSHA for all applicable permits.

• Permittee would need to provide for on-site dust control and should indicate what the water source for the site will be.

• Prior to issuing an excavation permit, Permittee should indicate if they have any plans for blasting on this site, and wouldneed to submit for a blasting permit if so.

• This proposal for extraction of sand and gravel within the city limits requires the property to be rezoned to the ExtractiveIndustries Overlay Zone, which requires Planning Commission review and City Council approval (both public hearings).

• We would want to either restrict trucks from traveling up Lake Mountain Road, or require pavement or other consistentimprovements to the road (Magnesium Chloride) if used.

• If they are planning to head west along the southern end of the Facebook site, which is included in Eagle Mountain’s FutureLand Use & Transportation Corridors Map as a future Collector Road, then we would like some kind of improvement to thatroad.

• Potentially will want bonding for road maintenance/improvement

• Bonding for reclamation of the site when completed

SUMMARYThe Director approved the issuance of MP 622 for a term of five (5) years. The application fee of $250.00 and the processingfee of $700.00 will be collected. The annual rental is $6,540.00, which represents $10.00 per acre for the permit. The productionroyalty rate is $0.75 per bank cubic yard for all produced aggregate materials.



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APPROVAL - RIP 791 - RANGE IMPROVEMENTSurfaceStatus:12/17/2018 Approved by David Ure Department:DA Date:

Chamberlain, ScottDrafted By: 2302ID:

CONTRACT DETAILSName: ADAMS BROTHERS

Address: C/O KACY ADAMS267 W 3000 NCEDAR CITY, UT 84721

Administrator: Chamberlain, Scott County: Iron Total acres: 132.73

Beneficiary: Miners Hospital 112.73 ac (84.93%);School 20.00 ac (15.07%)

LAND PARCELS (GIS Review of Description: 12/10/2018)T35S, R10W, SLB&M Section 19: LOT 3 (NW4SW4) (WITHIN) 40.00 acres

T35S, R10W, SLB&M Section 19: S2 OF LOT 2 (WITHIN) 20.00 acres

T35S, R11W, SLB&M Section 24: NE4SE4, SE4NE4 (LESS 7.27 AC) (WITHIN) 72.73 acres

BACKGROUNDREQUESTED/PROPOSED ACTION:The applicant proposes to chain and seed approximately 135 acres.

The applicant submitted a proposal for this range improvement project on September 6, 2018. The applicant is doing the projectwith the assistance of the Natural Resource Conservation Service (NRCS).

The project was submitted to the Resource Development Coordinating Committee (RDCC) (RDCC project #66603). One (1)letter from Iron County was received stating the County supported the proposed project. The Trust's archaeological staff has verified that clearance was completed. A search of the Trust's records was made to determine the status of the areas involved. Contracts, leases, and permits in theproject areas are: GP 23030-12. The grazing permittee is the applicant.

NARRATIVEThis 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/REVENUEEstimated cost/value of the project is $22,950.00, with $5,730.00 being provided by the applicant and the remaining portionprovided by NRCS. The applicant’s portion will be amortized as shown below. Following is a flat-rate amortization scheduleusing the NRCS schedule for this project, should the School and Institutional Trust Lands Administration cancel the grazingpermit before these improvements are fully amortized. If the permittee sells or allows the permit to expire or to be canceled dueto his own actions, then the amortization schedule will be canceled. Only the applicant’s contributions towards the associatedproject costs will be amortized.

PROJECT: Chaining and SeedingPROJECT COST: $5,730.00 PROJECT LIFE: 20 yearsYEAR COMPLETED: 2019YEARLY AMORTIZED DEDUCTION: $286.50YEAR FULLY AMORTIZED: 2039

SUMMARY


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APPROVAL - RIP 791 - RANGE IMPROVEMENT (Continued)This range improvement project to chain and seed approximately 135 acres with the associated amortization schedule wasapproved.



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FIVE-YEAR REVIEW - SULA 1413 - TELECOMMUNICATIONSurfaceStatus:12/17/2018 Approved by David Ure Department:DA Date:

Bagley, GaryDrafted By: 2297ID:

CONTRACT DETAILSName: SBA 2012 TC ASSETS, LLC

Address: ATTN: SITE ADMIN / RE: UT48071-A-O8051 CONGRESS AVE.BOCA RATON, FL 334871307

Administrator: Bagley, Gary County: Sevier Total acres: 0.34

Start Date: 02/01/2004 Beneficiary: School

Expiration Date: 01/31/2034

LAND PARCELS (GIS Review of Description: 12/10/2018)T21S, R1W, SLB&M Section 36: N2NW4 (SEE METES & BOUNDS) 0.34 acres

BACKGROUNDThe authorized use of the subject parcel is for a cellular-wireless communication site tower and associated small radioequipment building. This is also referred to as the Salina, UT site, customer number UT 48071-A. The five-year review date isFebruary 1, 2018.

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 site has updated current insurance, which is consistent with the lease requirements. A $5,000.00 surety bond is in place, asset forth in the lease, and is adequate for the purposes of this site at this time.

WATER RIGHTS AND WELLS:There are no Trust-owned water rights associated with this lease.

ENVIRONMENTAL COMPLIANCE:This lease was inspected and reviewed for environmental compliance in September 2018 and has been rated as low risk. Thereis no evidence of underground or above-ground petroleum storage tanks, stained soil, 55-gallon drums/containers of any size,unauthorized uses, or solid waste on the premises.

FINANCIAL/REVENUEThe lease agreement provides for annual rental increases in the annual base rental amount. There are no known sublessees onthe site. The annual rental is to increase from $7,150.00 to $7,740.00. The lessee was given certified notice of the increase andhas not responded with any comments. This is an inflationary increase as required by the lease agreement. The next five-yearreview on February 1, 2024, needs to include an analysis of comparable rents and possibly an appraisal of the site.

The existing lease, with its small acreage, is currently considered the highest and best use of a parcel of this type of land.

SUMMARYThe annual base rental has been increased to $7,740.00. The next five-year review will be completed by February 1, 2024.


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FIVE-YEAR REVIEW - SULA 1413 - TELECOMMUNICATION (Continued)TYPE OF RECORD: APPROVAL


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FIVE-YEAR REVIEW - SULA 1619 - INDUSTRIALSurfaceStatus:12/17/2018 Approved by David Ure Department:DA Date:

Davis, JimDrafted By: 2293ID:

CONTRACT DETAILSName: KERR-MCGEE OIL & GAS ONSHORE LP

Address: PO BOX 173779DENVER, CO 802173779

Administrator: Davis, Jim County: Uintah Total acres: 2.00



LAND PARCELS (GIS Review of Description: 10/29/2008)T10S, R23E, SLB&M Section 2: S2SW4 (WITHIN) 2.00 acres

BACKGROUNDThe authorized use of the subject parcel is to construct and operate a storage yard known as the Bonanza Storage Yard. Thereview date is January 1, 2019.

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 allows the Trust to require a bond at any time, or torequire additional bonding as may be in the best interest of the beneficiary. A performance and reclamation bond in the amountof $5,000.00 is currently in place, and it has been determined that amount is adequate for the current risks associated with thelessee’s current uses.

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 on October 17, 2018. Based on the inspection, this sitewill be rated low risk. There is no evidence of underground petroleum storage tanks, stained soil, unauthorized uses, or solidwaste on the premises. All oil and gas containers are being properly stored. The site appears clean and orderly. The completesite inspection report is in the lease file.

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 $2,210.00 per year to $2,420.00 per year, effective January 1,2019.

A certified notice was sent informing the lessee of this action. No response has been received.

After a preliminary analysis pursuant to Board policy, the value of comparable, unimproved properties in the area has beenestimated to be approximately $500.00 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, published federal price indices, or othermethods as provided for in the lease agreement. The existing lease is currently considered the highest and best use of a parcelof this type of land.


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FIVE-YEAR REVIEW - SULA 1619 - INDUSTRIAL (Continued)

SUMMARYThe annual rental has been increased from $2,210.00 per year to $2,420.00, effective January 1, 2019. The next five-yearreview will be completed by January 1, 2024.



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LAND PARCELS (GIS Review of Description: 10/29/2008)T10S, R21E, SLB&M Section 18: N2NW4 (WITHIN) 2.00 acres

BACKGROUNDThe authorized use of the subject parcel is to construct and operate a storage yard known as the Seep Ridge Storage Yard. Thereview date is January 1, 2019.

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 allows the Trust to require a bond at any time, or torequire additional bonding as may be in the best interest of the beneficiary. A performance and reclamation bond in the amountof $5,000.00 is currently in place, and it has been determined that amount is adequate for the current risks associated with thelessee’s current uses.

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 on October 17, 2018. Based on the inspection, this sitewill be rated low risk. There is no evidence of underground petroleum storage tanks, stained soil, unauthorized uses, or solidwaste on the premises. All oil and gas containers are being properly stored. The site appears clean and orderly. The completesite inspection report is in the lease file.





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SUMMARYThe annual rental has been increased from $2,210.00 per year to $2,420.00, effective January 1, 2019. The next five-yearreview will be completed by January 1, 2024.



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LAND PARCELS (GIS Review of Description: 10/29/2008)T10S, R21E, SLB&M Section 2: LOT 4, S2NW4 (WITHIN) 12.00 acres

BACKGROUNDThe authorized use of the subject parcel is to construct and operate a storage yard, drilling mud processing facility and mancamp. The review date is January 1, 2019.

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 allows the Trust to require a bond at any time, or torequire additional bonding as may be in the best interest of the beneficiary. A performance and reclamation bond in the amountof $10,000.00 is currently in place, and it has been determined that amount is adequate for the current risks associated with thelessee’s current uses.

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 on October 17, 2018. Based on the inspection, this sitewill be rated medium risk. There is no evidence of underground petroleum storage tanks, stained soil, unauthorized uses, orsolid waste on the premises. All oil and gas containers are being properly stored. The site appears clean and orderly. Thecomplete site inspection report is in the lease file.





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SUMMARYThe annual rental has been increased from $15,290.00 per year to $16,760.00 per year, effective January 1, 2019. The nextfive-year review will be completed by January 1, 2024.



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THREE-YEAR REVIEW - SULA 1770 - INDUSTRIALSurfaceStatus:12/17/2018 Approved by David Ure Department:DA Date:


CONTRACT DETAILSName: AVAD UTAH, LLC

Address: 500 NORTH AKARD STREET, SUITE 2860DALLAS, TX 75201

Administrator: Davis, Jim County: Emery Total acres: 2.84



LAND PARCELS (GIS Review of Description: 05/06/2013)T16S, R8E, SLB&M Section 13: LOTS 1&2 (WITHIN) 2.84 acres

BACKGROUNDThe authorized use of the subject parcel is the operation of a produced-water disposal well and tank battery, known as theClawson Springs #4 SWD. The review date is January 1, 2019.

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 allows the Trust to require a bond at any time, or torequire additional bonding as may be in the best interest of the beneficiary. A performance and reclamation bond in the amountof $10,000.00 is currently in place, and upon consultation with the Trust’s environmental compliance manager, it has beendetermined that amount is adequate for the current risks associated with the lessee’s current uses.

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 on October 2, 2018. Based on the inspection, this sitewill be rated medium risk. There is no evidence of underground petroleum storage tanks, stained soil, unauthorized uses, orsolid waste on the premises. All oil and gas containers are being properly stored. The site appears clean and orderly. Thecomplete site inspection report is in the lease file.

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 $1,030.00 per year to $1,120.00 per year, effective January 1,2019. There is also a $.15 per barrel water disposal fee that will remain unchanged.

A certified notice was sent informing the lessee of this action. The lessee has agreed to pay the adjusted rental.



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THREE-YEAR REVIEW - SULA 1770 - INDUSTRIAL (Continued)SUMMARYThe annual rental has been increased from $1,030.00 to $1,120.00, effective January 1, 2019. The next three-year review willbe completed by January 1, 2022.



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THREE-YEAR REVIEW - SULA 1483 - INDUSTRIALSurfaceStatus:12/17/2018 Approved by David Ure Department:DA Date:


CONTRACT DETAILSName: RN INDUSTRIES, INC. (RNI)

Address: PO BOX 1168VERNAL, UT 84078




LAND PARCELS (GIS Review of Description: 12/12/2018)T9S, R22E, SLB&M Section 2: N2 314.40 acres

BACKGROUNDThe authorized use of the subject parcel is the operation of a produced-water evaporation pond facility known as the ChapitaWells Evaporation Ponds. The review date is January 1, 2019.

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 allows the Trust to require a bond at any time, or torequire additional bonding as may be in the best interest of the beneficiary. A performance and reclamation bond in the amountof $120,500.00 is currently in place, and it has been determined that amount is adequate for the current risks associated withthe lessee’s current uses.

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 on October 17, 2018. Based on the inspection, this sitewill be rated high risk. There is no evidence of underground petroleum storage tanks, stained soil, unauthorized uses, or solidwaste on the premises. All oil and gas containers are being properly stored. The site appears clean and orderly. The completesite inspection report is in the lease file.

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 $5,580.00 per year to $6,210.00 per year, effective January 1,2019. There is also a water disposal fee of 16.67% of gross receipts that will remain unchanged. A certified notice was sent informing the lessee of this action. No response has been received.



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THREE-YEAR REVIEW - SULA 1483 - INDUSTRIAL (Continued)

SUMMARYThe annual rental has been increased from $5,580.00 to $6,210.00, effective January 1, 2019. The next three-year review willbe completed by January 1, 2022.



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THREE-YEAR REVIEW - SULA 1538 - INDUSTRIALSurfaceStatus:12/17/2018 Approved by Michael Brown Department:DA Date:


CONTRACT DETAILSName: RN INDUSTRIES, INC. (RNI)

Address: PO BOX 1168VERNAL, UT 84078




LAND PARCELS (GIS Review of Description: 12/12/2018)T10S, R20E, SLB&M Section 36: ALL (LESS AND EXCEPTING 14.653 ACRES) (SEE METES & BOUNDS) 625.35 acres

BACKGROUNDThe authorized use of the subject parcel is a water disposal pond facility known as the Seep Ridge Evaporation Ponds. Thereview date is January 1, 2019.

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 allows the Trust to require a bond at any time, or torequire additional bonding as may be in the best interest of the beneficiary. A performance and reclamation bond in the amountof $320,000.00 is currently in place, and it has been determined that amount is adequate for the current risks associated withthe lessee’s current uses.

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 on October 17, 2018. Based on the inspection, this sitewill be rated high risk. There is no evidence of underground petroleum storage tanks, stained soil, unauthorized uses, or solidwaste on the premises. All oil and gas containers are being properly stored. The site appears clean and orderly. The completesite inspection report is in the lease file.

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 $11,290.00 per year to $12,560.00 per year, effective January 1,2019. There is also a water disposal fee of 16.67% of gross receipts that will remain unchanged.




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THREE-YEAR REVIEW - SULA 1538 - INDUSTRIAL (Continued)

SUMMARYThe annual rental has been increased from $11,290.00 to $12,560.00, effective January 1, 2019. The next three-year review willbe completed by January 1, 2022.



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SUBDIVISION LOT SALE - SUBD 10 A - LOTS 76 & 77DevelopmentStatus:12/17/2018 Approved by David Ure Department:DA Date:

Roe, AlanDrafted By: 2287ID:

CONTRACT DETAILSName: CW CORAL CANYON, LLC

Address: 2250 N. CORAL CANYON BLVD.SUITE 200WASHINGTON, UT 84780

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 7: HIGHLAND PARK PHASE 1 WITHIN CORAL CANYON 190.32 acres

T42S, R14W, SLB&M Section 18: HIGHLAND PARK PHASE 1 42.34 acres

LOTS SOLDLOT 76 0.24 acres Certificate of Sale: C-26634-10-76 Patent: P-20361-10-76

Beneficiary: School Certificate Date: 11/29/2018 Patent Date: 10/30/2018

Lot Price: $56,032.00 Fees: $0.00

LOT 77 0.33 acres Certificate of Sale: C-26634-10-77 Patent: P-20361-10-77

Beneficiary: School Certificate Date: 11/29/2018 Patent Date: 10/30/2018

Lot Price: $53,560.00 Fees: $0.00

NARRATIVEThese lots have been sold pursuant to the terms of DEVL 1075, which provides for the development of the remaining 790 acresin Coral Canyon, including the remaining 22 finished lots in Highland Park. The development lease was approved by the School& Institutional Trust Lands Administration Board of Trustees on May 28, 2015.

The minimum lot price for Lot 76 is $70,040.00 and Lot 77 is $66,950.00. A true up payment will be made when the finishedhome 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% ofthe home price, if this is higher than the minimum price.

SUMMARYLots 76 & 77 have been sold.



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INTEREST RATEAccountingStatus:12/17/2018 Approved by David Ure Department:DA Date:

Babinsky, MichaelDrafted By: 2303ID:

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

CURRENT YEAR: 5.25% ONE YEAR AGO: 4.25%

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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Status: Approved by David Ure Department...2018/12/17 · The project was submitted to the Resource...

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Transcript of Status: Approved by David Ure Department...2018/12/17 · The project was submitted to the Resource...