Narrative. DUE 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 been asked to provide proof of adequate insurance coverage. The lease allows the Trust to require a bond at any time, or to require additional bonding as may be in the best interest of the beneficiary. No performance and reclamation bond is required at this time because of the low risks associated with the lessee’s current uses. WATER RIGHTS AND XXXXX: There are no Trust-owned water rights associated with this lease. ENVIRONMENTAL COMPLIANCE: The property was inspected and reviewed for environmental compliance on April 6, 2021. The lease inspection indicated it would be rated as low risk. There is no evidence of underground petroleum storage tanks, stained soil, unauthorized uses, or solid waste on the premises. All oil and gas containers are being properly stored. The site appears clean and orderly. The complete inspection report will be added to the lease file. FINANCIAL/REVENUE The lease agreement provides for periodic increases in the annual base rental amount. Pursuant to the lease agreement, it is recommended that the annual base rental be increased from $1,080.00 per year to $1,240.00 per year based on a Consumer Price Index ("CPI") adjustment, effective August 1, 2021. A certified notice was sent informing the lessee of this action. An analysis of comparable parcels and rental rates in the area show that these adjusted rentals meet market value. Based on this analysis, it has been determined that an appraisal is not warranted and that adjustments should be based on CPI. The existing lease is currently considered the highest and best use of a parcel of this type of land. (Continued) FIVE-YEAR REVIEW - SULA 1707 - AGRICULTURE SUMMARY The annual rental for SULA 6597 has been increased from $1,080.00 to $1,240.00, effective August 1, 2021. The next five-year review will be completed by August 1, 2026. TYPE OF RECORD: APPROVAL THREE-YEAR REVIEW - SULA 1728 - AGRICULTURE DA Date: 05/10/2021 Status: Approved by Xxxxx Xxx Department: Surface Drafted By: Xxxxxxxxxxx, Xxxxx ID: 6598 CONTRACT DETAILS Name: X XXXXXX SHEEP CO. Address: C/O XXXXX XXXXXX PO BOX 336 EPHRAIM, UT 84627 Administrator: Xxxxxxxxxxx, Xxxxx County: Beaver Total acres: 27.5000 Start Date: 08/01/2012 Beneficiary: School Expiration Date: 07/31/2032 LAND PARCELS (GIS Review of Description: 01/26/2012) T28S, R14W, SLB&M Section 16: E2E2SW4SW4SW4, SE4SW4SW4, W2SW4SE4SW4, S2NE4SW4SW4, SW4NW4SE4SW4 25.000 acres T28S, R14W, SLB&M Section 21: N2N2NE4NW4NW4 2.5000 acres
Appears in 1 contract
Samples: trustlands.utah.gov
Narrative. DUE 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 been asked to provide provided proof of adequate insurance coverage. The lease allows the Trust to require a bond at any time, or to require additional bonding as may be in the best interest of the beneficiary. No performance and reclamation bond is required at this time because of the low risks associated with the lessee’s current uses. WATER RIGHTS AND XXXXX: There are no Trust-owned water rights associated with this lease. ENVIRONMENTAL COMPLIANCE: The property was inspected and reviewed for environmental compliance on April 6September 12, 20212019. The lease inspection indicated it would be rated as low risk. There is no evidence of underground petroleum storage tanks, stained soil, unauthorized uses, or solid waste on the premises. All oil and gas containers are being properly stored. The site appears clean and orderly. The complete inspection environmental report will be added to is in the lease file. FINANCIAL/REVENUE The lease agreement provides for periodic increases in the annual base rental amount. Pursuant to the lease agreement, it is recommended that the annual base rental be increased from $1,080.00 2,410.00 per year to $1,240.00 2,600.00 per year based on a Consumer Price Index ("CPI") adjustmentyear, effective August January 1, 20212020. A certified notice was sent informing the lessee of this action. An No response has been received. After a preliminary analysis pursuant to Board policy, the value of comparable parcels and rental rates comparable, unimproved properties in the area show that these adjusted rentals meet market valuehas been estimated to be approximately $600.00 per acre. Based on this analysis, it has been determined that an appraisal is not warranted warranted, and that adjustments any rental increase should be based on CPItied to comparable lease rentals, published federal price indices, or other methods as provided for in the lease agreement. The existing lease is currently considered the highest and best use of a parcel of this type of land. SUMMARY (Continued) FIVE-YEAR REVIEW - SULA 1707 513 - AGRICULTURE SUMMARY The annual rental for SULA 6597 has been increased from $1,080.00 2,410.00 to $1,240.002,600.00, effective August January 1, 20212020. The next five-year review will be completed by August January 1, 20262025. TYPE OF RECORD: APPROVAL THREE-YEAR REVIEW TERMINATION OF CONTRACT - SULA 1728 ROW 76 - AGRICULTURE RIGHT OF WAY DA Date: 05/10/2021 10/07/2019 Status: Approved by Xxxxx Xxx Department: Surface Drafted By: XxxxxxxxxxxXxxxxxxx, Xxxxx ID: 6598 3285 CONTRACT DETAILS Name: X XXXXXX SHEEP CO. MOUNTAIN STATES TELEPHONE Address: C/O XXXXX XXXXXX PO BOX 336 EPHRAIMXXXXXXXX X. XXXXXXXX 0000 X XXXXXXX XX, UT 84627 SUITE 101 ENGLEWOOD, CO 80112 Administrator: XxxxxxxxxxxXxxxxxxx, Xxxxx County: Beaver Utah Total acres: 27.5000 1.00 Start Date: 08/01/2012 01/01/1936 Beneficiary: School Deaf Expiration Date: 07/31/2032 12/31/5555 LAND PARCELS (GIS Review of Description: 01/26/201210/01/2019) T28ST10S, R6E, SLB&M Section 25: NE4NW4 (WITHIN) (9 POLES) 1.00 acres SUMMARY This right of way was issued to Mountain States Telephone and Telegraph Company on November 5, 1936, for a telephone line across three (3) parcels of trust lands. Of the three (3) parcels, only the NE¼NW¼ of Section 25, T10S, R6E, SLB&M is still on trust land, across which nine (9) poles were to have been installed. Agency staff has inspected the property and found no telephone line in place. Because the right of way has been abandoned, it should be terminated on Agency records. TYPE OF RECORD: APPROVAL APPROVAL OF C 26836 - DEVELOPMENT SALE - CANYON GREENS COMMERCIAL PARCEL 4 - YODEL DA Date: 10/07/2019 Status: Approved by Xxxxx Xxx Department: Development Drafted By: Xxx, Xxxx ID: 3077 CONTRACT DETAILS Name: YODEL TECHNOLOGY SERVICES LLC Address: 000 XXXXXX XXXXX SUITE 100 SOUTH JORDAN, UT 84095 Administrator: Xxxxxx, Xxxx County: Washington Total acres: 0.18 Start Date: 07/22/2019 Beneficiary: Miners Hospital Project Code: SUNCR 004 01 000 Project Name: Coral Canyon Commercial Improved LAND PARCELS (GIS Review of Description: 08/01/2019) T42S, R14W, SLB&M Section 165: E2E2SW4SW4SW4PARCEL 4 OF CANYON GREENS COMMERCIAL CENTER - PHASE B 0.18 acres SUMMARY This parcel in the Coral Canyon Town Center is a small 0.18 acre commercial parcel, SE4SW4SW4located directly north of the Town Center 1 office building. The parcel is a remnant of land left over after development of the building to the south and upgrade of the Town Center Park to the north by Cole West, W2SW4SE4SW4the School and Institutional Trust Lands' ("XXXXX") development partner in Coral Canyon). XXXXX received an offer on this parcel from Yodel Technologies, S2NE4SW4SW4a software company to build a small corporate office. The initial offer was for $6.50 per square foot. An appraisal was obtained, SW4NW4SE4SW4 25.000 acres T28S, R14W, SLB&M Section 21which valued the parcel at $160,000.00 or approximately $20.00 per square foot. This sale is currently under a 120-day due diligence period. The sales price will be paid and a patent will be issued at closing. TYPE OF RECORD: N2N2NE4NW4NW4 2.5000 acresAPPROVAL SUBDIVISION LOT SALE - SUBD 47 - LOT 206 DA Date: 10/07/2019 Status: Approved by Xxxxx Xxx Department: Development
Appears in 1 contract
Samples: trustlands.utah.gov
Narrative. DUE 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 been asked to provide provided proof of adequate insurance coverage. The lease allows the Trust to require a bond at any time, or to require additional bonding as may be in the best interest of the beneficiary. No A performance and reclamation bond in the amount of $5,000.00 is required at this time because of currently in place. It has been determined that amount is adequate for the low current risks associated with the lessee’s current uses. WATER RIGHTS AND XXXXX: There are no Trust-owned water rights associated with this lease. ENVIRONMENTAL COMPLIANCE: The property was inspected and reviewed for environmental compliance on April 6September 27, 2021. The Based on the lease inspection indicated it would be inspection, this site is being rated as low medium risk. There is no evidence of underground petroleum storage tanks, stained soil, unauthorized uses, or solid waste on the premises. All oil and gas containers are being properly stored. The site appears clean and orderly. The complete inspection report will be added to kept in the lease file. FINANCIAL/REVENUE The lease agreement provides for periodic increases in the annual base rental amount. Pursuant to the lease agreement, it is recommended that the annual base rental be increased from $1,080.00 per year to $1,240.00 per year based on After a Consumer Price Index ("CPI") adjustment, effective August 1, 2021. A certified notice was sent informing the lessee of this action. An analysis of comparable parcels and rental rates in the area show that these adjusted rentals meet market value. Based on this preliminary analysis, it has been determined that an appraisal is not warranted warranted, and that adjustments any rental increase should be based on CPItied to comparable lease rentals, published federal price indices, or other methods as provided for in the lease agreement. The annual base rental will be increased from $16,980.00 per year to $19,280.00 per year, effective December 1, 2021. Written notice of this action was sent to the lessee. The existing lease is currently considered the highest and best use of a this parcel of this type of land. (Continued) FIVE-YEAR REVIEW - SULA 1707 - AGRICULTURE SUMMARY The annual rental for SULA 6597 has been increased from $1,080.00 to $1,240.00, effective August 1, 2021. The next five-year review will be completed by August 1, 2026. TYPE OF RECORD: APPROVAL THREE-YEAR REVIEW - SULA 1728 - AGRICULTURE DA Date: 05/10/2021 Status: Approved by Xxxxx Xxx Department: Surface Drafted By: Xxxxxxxxxxx, Xxxxx ID: 6598 CONTRACT DETAILS Name: X XXXXXX SHEEP CO. Address: C/O XXXXX XXXXXX PO BOX 336 EPHRAIM, UT 84627 Administrator: Xxxxxxxxxxx, Xxxxx County: Beaver Total acres: 27.5000 Start Date: 08/01/2012 Beneficiary: School Expiration Date: 07/31/2032 LAND PARCELS (GIS Review of Description: 01/26/2012) T28S, R14W, SLB&M Section 16: E2E2SW4SW4SW4, SE4SW4SW4, W2SW4SE4SW4, S2NE4SW4SW4, SW4NW4SE4SW4 25.000 acres T28S, R14W, SLB&M Section 21: N2N2NE4NW4NW4 2.5000 acres.
Appears in 1 contract
Samples: trustlands.utah.gov
Narrative. DUE 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 been asked to provide proof of adequate insurance coverage. The lease allows the Trust to require a bond at any time, or to require additional bonding as may be in the best interest of the beneficiary. No performance and reclamation bond is required at this time because of currently in place, which has been determined to be adequate for the low current risks associated with the lessee’s current uses. WATER RIGHTS AND XXXXX: There are no Trust-owned water rights associated with this lease. ENVIRONMENTAL COMPLIANCE: The property was inspected and reviewed for environmental compliance on April 6May 26, 2021. The lease inspection indicated it would be rated as low risk. There is no evidence of underground petroleum storage tanks, stained soil, unauthorized uses, or solid waste on the premises. All oil and gas containers are being properly stored. The site appears clean and orderly. The complete inspection report will be added to the lease file. FINANCIAL/REVENUE The lease agreement provides for periodic increases in the annual base rental amount. Pursuant to the lease agreement, it is recommended that the annual base rental be increased from $1,080.00 720.00 per year to $1,240.00 770.00 per year based on a Consumer Price Index ("CPI") adjustment, effective August October 1, 2021. A certified notice was sent informing the lessee of this action. An analysis of comparable parcels and rental rates in the area show that these adjusted rentals meet market value. Based on this analysis, it has been determined that an appraisal is not warranted and that adjustments should be based on CPI. The existing lease is currently considered the highest and best use of a parcel of this type of land. (Continued) FIVE-YEAR REVIEW - SULA 1707 - AGRICULTURE SUMMARY The annual rental for SULA 6597 1641 has been increased from $1,080.00 720.00 to $1,240.00770.00, effective August October 1, 2021. The next fivethree-year (Continued) THREE-YEAR REVIEW - SULA 1641 - AGRICULTURE review will be completed by August October 1, 20262024. TYPE OF RECORD: APPROVAL THREE-YEAR REVIEW - SULA 1728 1549 - AGRICULTURE INDUSTRIAL DA Date: 05/10/2021 06/14/2021 Status: Approved by Xxxxx Xxx Department: Surface Drafted By: XxxxxxxxxxxXxxxx, Xxxxx Xxx ID: 6598 6649 CONTRACT DETAILS Name: X XXXXXX SHEEP CO. EOG RESOURCES INC Address: C/O XXXXX XXXXXX PO BOX 336 EPHRAIMREGULATORY DEPARTMENT 000 00XX XXXXXX, UT 84627 XXX 0000X XXXXXX, XX 00000 Administrator: XxxxxxxxxxxXxxxx, Xxxxx Xxx County: Beaver Uintah Total acres: 27.5000 640.0000 Start Date: 08/01/2012 07/01/2008 Beneficiary: School Expiration Date: 07/31/2032 06/30/2028 LAND PARCELS (GIS Review of Description: 01/26/201206/08/2021) T28ST9S, R14WR23E, SLB&M Section 16: E2E2SW4SW4SW4ALL 640.00 acres BACKGROUND The authorized use of the subject parcel is a produced water facility, SE4SW4SW4storage, W2SW4SE4SW4and freshwater pond. The review date is July 1, S2NE4SW4SW4, SW4NW4SE4SW4 25.000 acres T28S, R14W, SLB&M Section 21: N2N2NE4NW4NW4 2.5000 acres2021.
Appears in 1 contract
Samples: trustlands.utah.gov
Narrative. DUE 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 been asked to provide provided proof of adequate insurance coverage. The lease allows the Trust to require a bond at any time, or to require additional bonding as may be in the best interest of the beneficiary. No A performance and reclamation bond in the amount of $38,250.00 is required at currently in place. That bond applies to this time because lease and five other SULAs (see Director’s Actions of August 16, 2021, ID #6950). It has been determined that amount is adequate for the low current risks associated with the lessee’s current uses. WATER RIGHTS AND XXXXX: There are no Trust-owned water rights associated with this lease. ENVIRONMENTAL COMPLIANCE: The property was inspected and reviewed for environmental compliance on April 6September 27, 2021. The Based on the lease inspection indicated it would be inspection, this site is being rated as low medium risk. There is no evidence of underground petroleum storage tanks, stained soil, unauthorized uses, or solid waste on the premises. All oil and gas containers are being properly stored. The site appears clean and orderly. The complete inspection report will be added to kept in the lease file. FINANCIAL/REVENUE The lease agreement provides for periodic increases in the annual base rental amount. Pursuant to the lease agreement, it is recommended that the annual base rental be increased from $1,080.00 per year to $1,240.00 per year based on After a Consumer Price Index ("CPI") adjustment, effective August 1, 2021. A certified notice was sent informing the lessee of this action. An analysis of comparable parcels and rental rates in the area show that these adjusted rentals meet market value. Based on this preliminary analysis, it has been determined that an appraisal is not warranted warranted, and that adjustments any rental increase should be based on CPItied to comparable lease rentals, published federal price indices, or other methods as provided for in the lease agreement. The annual base rental will be increased from $11,990.00 per year to $14,010.00 per year, effective December 1, 2021. Written notice of this action was sent to the lessee. The existing lease is currently considered the highest and best use of a this parcel of this type of land. (Continued) FIVE-YEAR REVIEW - SULA 1707 - AGRICULTURE SUMMARY The annual rental for SULA 6597 has been increased from $1,080.00 to $1,240.00, effective August 1, 2021. The next five-year review will be completed by August 1, 2026. TYPE OF RECORD: APPROVAL THREE-YEAR REVIEW - SULA 1728 - AGRICULTURE DA Date: 05/10/2021 Status: Approved by Xxxxx Xxx Department: Surface Drafted By: Xxxxxxxxxxx, Xxxxx ID: 6598 CONTRACT DETAILS Name: X XXXXXX SHEEP CO. Address: C/O XXXXX XXXXXX PO BOX 336 EPHRAIM, UT 84627 Administrator: Xxxxxxxxxxx, Xxxxx County: Beaver Total acres: 27.5000 Start Date: 08/01/2012 Beneficiary: School Expiration Date: 07/31/2032 LAND PARCELS (GIS Review of Description: 01/26/2012) T28S, R14W, SLB&M Section 16: E2E2SW4SW4SW4, SE4SW4SW4, W2SW4SE4SW4, S2NE4SW4SW4, SW4NW4SE4SW4 25.000 acres T28S, R14W, SLB&M Section 21: N2N2NE4NW4NW4 2.5000 acres.
Appears in 1 contract
Samples: trustlands.utah.gov
