BACKGROUND FINANCIAL/REVENUE SUMMARY TYPE ......2018/03/12 · The project area has been surveyed...

APPROVAL - MP 611 - SAND & GRAVELCoal & MineralStatus:03/12/2018 Approved by Ron Carlson Department:DA Date:

Bedingfield, AndrewDrafted By: 1160ID:

CONTRACT DETAILSPermittee: PECK ROCK AND PRODUCTS

Address: 1512 N 1300 ELEHI, UT 84043

Administrator: Bedingfield, Andrew County: Utah Total acres: 155.04

Beneficiary: School

LAND PARCELS (GIS Review of Description: 02/26/2018)T6S, R1W, SLB&M Section 3 LOTS 1 AND 2, SW4NE4, SE4NE4 (WITHIN) 155.04 acres

BACKGROUNDThe sale of sand and gravel from these lands is associated with the clay pits authorized by ML 17806. Gravels are present in alayer overlying the mine-able clays and will be removed by the operator under the terms of this permit. This permit is beingoffered on a non-competitive basis because of these conjoining uses. This is an historic and on-going use of the subject lands. The site has been surveyed for cultural resources (04-UM-067 & 04-MV-0776s). The site has been cleared for culturalresources with a finding of "No Cultural Resources."

FINANCIAL/REVENUEThe application fee of $250.00 and the processing fee of $700.00 will be collected. The annual rental is $1,560.00.

SUMMARYThis permit is approved for a term of five (5) years with annual rental of $10.00 per acre and production royalty rate of $0.60 perbank cubic yard for all produced aggregate materials.

TYPE OF RECORD: APPROVAL

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

ASSIGNMENT OF OPERATING RIGHTS- ML 31281 - OIL GAS & HYDROCARBONOil & GasStatus:03/12/2018 Approved by Ron Carlson Department:DA Date:

Gold, AlyDrafted By: 1172ID:

CONTRACT DETAILSAdministrator: Adams, Wes County: Grand Total acres: 40.00

Start Date: 12/01/1974 Beneficiary: School

Expiration Date: 12/31/2999

Royalty Rate: 12.5%

FINANCIAL/REVENUEAssignment fee of $50.00 paid by Balsam Producing Properties, LLC, check no. 2957.

SUMMARYAn operating rights assignment is approved for 1.50% interest in and to this lease to Balsam Producing Properties, LLC, P.O.Box 1324 Billings, MT 59103 by Robert C. Balsam Trust. No override reserved.



ASSIGNMENT - ML 49667 - OIL GAS & HYDROCARBONOil & GasStatus:03/12/2018 Approved by Ron Carlson Department:DA Date:


CONTRACT DETAILSAdministrator: Adams, Wes County: Grand Total acres: 480.00



Royalty Rate: 12.5%

FINANCIAL/REVENUEAssignment fee of $50.00 paid by A1 Lithium Inc., check no. 1003.

SUMMARYA record title and operating rights assignment is approved for 100% interest in and to this lease to A1 Lithium Inc., 1108 E.South Union Avenue, Midvale, UT 84047, by Kirkwood Oil & Gas, LLC (50%) and Nerd Gas Company, LLC (50%), subject topreviously reserved overriding royalties of record. Effective June 1, 2004, the School and Institutional Trust LandsAdministration assumes no responsibility in reviewing, collecting, or distributing overriding royalty.



STIPULATION OF INTEREST ASSIGNMENT - CELTIC BY CHEVRONOil & GasStatus:03/12/2018 Approved by Ron Carlson Department:DA Date:


CONTRACT NAME BENE ACRESTYPECOUNTYUO 36845 ST CELTIC RESOURCES

LLCSCH GRND O&G 480.00

UO 37005 ST CELTIC RESOURCESLLC

SCH GRND O&G 160.00

SUMMARYA stipulation of interest for the leases has been submitted by Chevron U.S.A. Inc. and Celtic Resources, LLC. The stipulationstates that on an assignment approved by the Director on March 28, 2001 the intent of both lessees was to convey all right, titleand interest, including record title and operating rights, held by Chevron U.S.A. Inc. to Celtic Resources, LLC. Fifty percentinterest in operating rights in the part of lands listed below was not conveyed and was therefore retained by Chevron U.S.A. Inc.in our records. This stipulation clarifies title to reflect that the 50% interest in operating rights listed below was conveyed toCeltic Resources, LLC, effective March 28, 2001. UO 36845-ST (T18S, R22E, Sec. 32): S2NE4, SE4NW4, NE4SW4, from surface to base of the Morrison Formation UO 37005-ST (T18S, R22E, Sec. 32): SE4SW4, from surface to base of the Morrison Formation



AMENDMENT NO.1 - TA 877 - TIMBER SALES - DESERT PLANTS (WHOLE LIVEJOSHUA TREE HARVESTING CONTRACT)

SurfaceStatus:03/12/2018 Approved by Ron Carlson Department:DA Date:

Stewart, SlateDrafted By: 1174ID:

CONTRACT DETAILSLessee: GORDON, CURT

Address: 1291 W 530 SST GEORGE, UT 84770

Administrator: Stewart, Slate County: Washington Total acres: 1,920.00



BACKGROUNDTimber Sale No. 877 (TA 877) was issued to Curt Gordon beginning March 1, 2016. The contract was issued for a term of 24months, with an expiration date of February 28, 2018. The contract provides for the exclusive harvest rights of whole/live JoshuaTrees within the contract sale area for which a cultural resource survey has been completed at the expense of the purchaserand approved by the School and Institutional Trust Lands Administration's cultural resource staff. The sale area is in the BeaverDam area of Washington County.

NARRATIVEThe purchaser of TA 877 has requested an extension of two (2) years to complete harvest in areas cleared for culturalresources at his expense. The purchaser has operated within the terms of the contract and it is therefore proposed that the termof the contract be extended for a period of two (2) years, with a new expiration date of February 29, 2020.

FINANCIAL/REVENUEThe purchaser will be required to pay an extension of time fee in the amount of $250.00. The sale administrator has completedtelephone bids for Joshua Trees and recommends the contract rate of $10.00 per foot of tree as described in the contractremain unchanged.

SUMMARYAmendment No. 1 to TA 877 has been approved to extend the term of the contract by two (2) years with a new expiration dateof February 29, 2020.



BOND ACCEPTANCE- SULA 1867 - INDUSTRIALSurfaceStatus:03/12/2018 Approved by Ron Carlson Department:DA Date:

Davis, JimDrafted By: 1152ID:

CONTRACT DETAILSLessee: ENERVEST OPERATING LLC

Address: 1001 FANNIN STREET, SUITE 800HOUSTON, TX 77002

Administrator: Davis, Jim County: Carbon Total acres: 6.88



BOND / INSURANCE DETAILSPrincipal Name: ENERVEST OPERATING LLC Bond Type: Surety Bond

Amount: $5,000.00 Effective Date: 02/19/2018Reference Number: BO11281

Issued By: U.S. SPECIALTY INSURANCE COMPANY

SUMMARYEnerVest Operating LLC, 1001 Fannin Street, Suite 800, Houston, TX 77002 submitted a bond of lessee, Bond No. BO11281, inthe amount of $5,000.00 for operations under SULA 1867. Surety is U.S. Specialty Insurance Company, 13403 NorthwestFreeway, Houston, TX 77040.



CORRECTION - SULA 1851 - INDUSTRIALSurfaceStatus:03/12/2018 Approved by Ron Carlson Department:DA Date:


CONTRACT DETAILSLessee: PRIDE VENTURES LLC

Address: PO BOX 306MOAB, UT 84532

Administrator: Davis, Jim County: Emery Total acres: 5.54



LAND PARCELS (GIS Review of Description: 04/25/2017)T16S, R12E, SLB&M Section 2 E2 (WITHIN) 5.54 acres

NARRATIVEOn the Director's Actions dated May 1, 2017, page 8, the Director approved Special Use Lease Agreement No. 1851, issued toPride Ventures, LLC for the purpose of operating a water disposal well in Emery County. On the Director’s Actions, the water disposal fee was listed as $0.15 per barrel.

The Director’s Actions should be corrected to show that the disposal fee will be $0.15 for the disposal of water from wellsoperated by Pride Ventures ("Non-Commercial Water") and 16.67% royalty to the School and Institutional Trust LandsAdministration on the gross revenue paid to Pride Ventures on water which is disposed of from wells other than thoseoperated by Pride Ventures ("Commercial Water").

SUMMARYCorrection to the Director's Actions, dated May 1, 2017, showing the disposal fee for Commercial and Non-Commercial water.



ASSIGNMENT APPROVAL - ESMTSSurfaceStatus:03/12/2018 Approved by Ron Carlson Department:DA Date:

Bartlett, ScottDrafted By: 1167ID:

CONTRACT NAME BENE ACRESTYPECOUNTYESMT 289 ENCANA OIL & GAS

(USA) INC.SCH UINT ROW 0.69

ROW 3365 ENCANA OIL & GAS(USA) INC.

SCH UINT ROW 0.30

ROW 3366 ENCANA OIL & GAS(USA), INC.

SCH UINT ROW 0.61

NARRATIVEEncana Oil & Gas (USA) Inc., 350 17th Street, Suite 1700, Denver, CO 80202, has requested permission to assign 100% of itsinterest in the subject easements to SWEVCO-SABW, LLC, 36 South State Street, Suite 1400, Salt Lake City, UT 84111.

Pursuant to R850-40-1600, the perpetual term of Right of Way No. 3365 will be amended to a term of approximately 15 years,with an expiration date of January 31, 2033.

FINANCIAL/REVENUEThe required $250.00 assignment fee per easement has been paid.

SUMMARYAssignment from Encana Oil & Gas (USA) Inc.: 100% to SWEVCO-SABW, LLC. All conditions set for assignment in Rule R850-40-1600 have been met.



APPROVAL - ESMT 2138 - EASEMENTSurfaceStatus:03/12/2018 Approved by Ron Carlson Department:DA Date:


CONTRACT DETAILSLessee: EAGAR, ALEX D

Address: 227 E 1864 SOREM, UT 84058

Administrator: Bartlett, Scott County: Millard Total acres: 4.68

Beneficiary: School

LAND PARCELS (GIS Review of Description: 01/10/2018)T17S, R8W, SLB&M Section 32 NW4SE4, S2SE4 (WITHIN) 4.68 acres

BACKGROUNDOn June 13, 2017, the applicant submitted the subject application to purchase an easement for a proposed access road.

The application was submitted for Trust review on July 6, 2017, and was accepted by the Director on August 1, 2017.

The project area has been surveyed for cultural resources by Bighorn Archaeological Consultants (U-17-HO-0890s). The proposed easement was sent to the Resource Development Coordinating Committee ("RDCC"), the Six County Associationof Governments, and the Millard County Commission for review on July 10, 2017. No comments were received.

NARRATIVEThe applicant proposes to construct, operate, repair and maintain an access road. The applicant has purchased adjacentproperty and plans to construct a new home, and wishes to construct this road to access his property. The proposed road wouldconnect Gunnison Bend Massacre Road to County Road 115 and would be constructed to county standards. The proposedeasement is approximately 3,091.46 feet long and 66 feet wide, containing approximately 4.68 acres. The requested term of the easement is 30 years.

The Trust's archaeology staff has reviewed the cultural resource survey that was completed by Bighorn ArchaeologicalConsultants. No eligible sites were located in the affected project area, and the easement has been cleared for culturalresources with a finding of "No Historic Properties Affected."

FINANCIAL/REVENUEThe application fee of $750.00 and the easement rental assessment of $3,091.46 have been submitted. The administrative feerequired pursuant to R850-40-1800 has been paid in a one-time payment of $1,000.00.

SUMMARYThis non-exclusive easement is to construct, operate, repair and maintain a proposed access road. The term will be 30 years,with a beginning date of March 1, 2018 and an expiration date of February 29, 2048. All required fees and rental have beenpaid.



APPROVAL - ESMT 1873 - EASEMENTSurfaceStatus:03/12/2018 Approved by Ron Carlson Department:DA Date:


CONTRACT DETAILSLessee: BEEHIVE BROADBAND, LLC

Address: 2000 SUNSET ROADLAKE POINT, UT 84074

Administrator: Bartlett, Scott County: Tooele Total acres: 13.39

Beneficiary: School

LAND PARCELS (GIS Review of Description: 08/20/2014)T1N, R8W, SLB&M Section 10 E2W2 (WITHIN) 1.82 acres

T1N, R8W, SLB&M Section 15 E2W2 (WITHIN) 1.81 acres



T1N, R8W, SLB&M Section 3 LOT 3, SE4NW4, E2SW4 (WITHIN) 1.93 acres

T1S, R7W, SLB&M Section 7 LOTS 1, 2, SE4NW4, S2NE4 (WITHIN) 1.82 acres

T1S, R8W, SLB&M Section 2 S2SW4 (WITHIN) 0.55 acres


BACKGROUNDOn April 2, 2014, the applicant submitted the subject application to purchase an easement for a proposed fiber optic line.

The application was submitted for Trust review on April 7, 2014, and was accepted by the Director on April 25, 2014.

The project area has been surveyed for cultural resources by Bighorn Archaeological Consultants (U-07-H-0974b,s).

Because the proposed easement is for a facility that will be installed within a county roadway, it is exempt from review by theResource Development Coordinating Committee ("RDCC").

NARRATIVEThe applicant proposes to construct, operate, repair and maintain a fiber optic line. The proposed fiber optic line will run withinthe disturbed limits of Highway 193 and Rowley Road, buried at a depth of three (3) feet. The line will serve an existing landfilland the ATI Metals facility. The proposed easement is 15 feet wide and approximately 38,896 feet long, containingapproximately 13.39 acres. The requested term of the easement is 30 years.

Trust staff recently discovered that the applicant installed the subject fiber optic line subsequent to submitting the easementapplication but prior to paying easement rental or executing an easement. The easement will be back-dated to the issue date(June 3, 2015) of the corresponding Bureau of Land Management ("BLM") right-of-way grant for the fiber optic line acrossadjacent BLM lands. Trespass damages will be assessed.

The final cultural resource determination has been requested from the BLM but not yet received. Should the report require anymitigation it will be addressed upon receipt of the report.

FINANCIAL/REVENUEBecause the applicant installed the subject fiber optic line prior to paying easement rental and executing an easement, trespassdamages have been assessed. The applicant has submitted payment of the $750.00 application fee and $5,000.00 in easementrental. The applicant will be required to pay additional easement rental in the amount of $20,000.00 within six (6) months.


APPROVAL - ESMT 1873 - EASEMENT (Continued)

The administrative fee required pursuant to R850-40-1800 will be paid every three (3) years, with the first payment being dueJanuary 1, 2021.

SUMMARYThis non-exclusive easement is to construct, operate, repair and maintain a proposed fiber optic line. The term will be 30 years,with a beginning date of June 3, 2015 and an expiration date of June 2, 2045. All required fees have been paid. The applicanthas submitted 20% of the required easement rental, with the remaining 80% to be paid within six (6) months.



APPROVAL OF NON-USE - GP 21850 17 - GRAZING (STANDARD)SurfaceStatus:03/12/2018 Approved by Ron Carlson Department:DA Date:

Chamberlain, ScottDrafted By: 1150ID:

CONTRACT DETAILSPermittee: HAROLD SELMAN INC.

Address: P. O. BOX 175TREMONTON, UT 84337

Administrator: Chamberlain, Scott County: Box Elder Total acres: 1,280.00



AUMs: 128.00

SUMMARYThe permittee is being required to take 100% (128 AUMs) non-use for the 2018 and 2019 grazing season, due to wildfirerestoration.





CONTRACT DETAILSPermittee: LAZY 8 LAND & LIVESTOCK

Address: C/O ROYAL OR BRYAN MORRISP. O. BOX 786PARK VALLEY, UT 84329




AUMs: 109.00






CONTRACT DETAILSPermittee: ELIASON, DAVID R

Address: 554 N 425 ETREMONTON, UT 84337




AUMs: 270.00






CONTRACT DETAILSLessee: LAZY 8 LAND & LIVESTOCK

Address: C/O ROYAL OR BRYAN MORRISP O BOX 786PARK VALLEY, UT 84329




AUMs: 115.00

SUMMARYThe permittee is being required to take 60% (69 AUMs) non-use for the 2018 grazing season, due to wildfire.



APPROVAL OF SULA 1865 - INDUSTRIALSurfaceStatus:03/12/2018 Approved by Ron Carlson Department:DA Date:


CONTRACT DETAILSLessee: PROLIFIC MINING CORP

Address: 6303 BLUE LAGOON DRIVE, SUITE 400MIAMI, FL 33126

Administrator: Davis, Jim County: Garfield Total acres: 20.00

Beneficiary: School

LAND PARCELS (GIS Review of Description: 11/03/2017)T31S, R11E, SLB&M Section 36 N2NW4NW4 20.00 acres

BACKGROUNDProposed Action:The applicant desires to lease this land to build a storage yard for heavy equipment, fuel, a shop and an office.

Relevant Factual Background:An application to lease trust land was received on August 25, 2017. The application fees and advertising fees were paid andreceipted appropriately. Public notice was made and notice was sent to all adjoining landowners, lessees and permittees.

NARRATIVEEvaluation of Facts:The application was submitted to the Resource Development Coordinating Committee ("RDCC") and the required governmentoffices. One comment was received from the Bureau of Land Management ("BLM"), a courtesy request asking that the BLM becontacted if the applicant will need access across BLM-administered lands.

The Utah Geological Survey recommended that a qualified paleontologist conduct a survey of the work area.

An archaeological survey was conducted. No significant cultural resources were identified. Cultural work was completed with afinding of "No Historic Properties Affected."

The application was advertised through the standard process. No competing applications were received.

R850-30-400 requires that the Trust receive at least fair-market value for surface leases. An analysis of the value of the propertyindicated a value of $1,200.00 per acre. Based on this value the annual lease payment of $10,800.00 per year meets the fair-market value requirements established by rule. The applicant requested a term of 20 years. This term is within the standard term for this type of lease as described in R850-30-200. The lease will be reviewed every three (3) years. As part of the lease reviews, the annual rent may be adjusted bycalculating adjustment of the Consumer Price Index ("CPI").

FINANCIAL/REVENUEFIRST YEAR RENTAL: $10,800.00APPLICATION FEE: $250.00PROCESSING FEE: $700.00ADVERTISING FEE: $220.00TOTAL SUBMITTED: $11,972.00

BONDING: The lease will have a $15,000.00 reclamation bond in place to protect the Trust from various risks. The terms of thelease allow the Trust to increase the bond amount if needed.

INSURANCE: The lease requires insurance coverage of not less than $2,500,000.00


APPROVAL OF SULA 1865 - INDUSTRIAL (Continued)

SUMMARYThe lease has been approved for a term of 20 years, with a beginning date of February 1, 2018 and an expiration date ofJanuary 31, 2038. The first three-year review will be February 1, 2021. The annual rental for the first three (3) years is$10,800.00. A bond in the amount of $15,000 will be required.



FIVE-YEAR REVIEW - SULA 606 - GOVERNMENTSurfaceStatus:03/12/2018 Approved by Ron Carlson Department:DA Date:

Torgerson, RonDrafted By: 1168ID:

CONTRACT DETAILSLessee: GRAND CO TRAVEL COUNCIL

Address: 84 NORTH 100 EASTPO BOX 550MOAB, UT 84532

Administrator: Torgerson, Ron County: Grand Total acres: 0.02



LAND PARCELS (GIS Review of Description: 03/05/2018)T21S, R19E, SLB&M Section 35 NW4NE4, (metes and bounds) see file 0.02 acres

BACKGROUNDThe authorized use of the subject parcel is a bill board sign near Crescent Junction. The review date is July 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:Neither insurance coverage nor a bond is required by the lease agreement.

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 March 1, 2018. The lease inspection indicated itwould be rated as low risk. There is no evidence of underground petroleum storage tanks, stained soil, unauthorized uses, orsolid waste on the premises. The site appears clean and orderly. The complete environmental 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 $610.00 per year to $670.00 per year, effective July 1, 2018.

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 $750.00 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.

SUMMARYThe annual rental has been increased from $610.00 to $670.00, effective July 1, 2018. The next five-year review will be July 1,2023, when the lease expires.



FIRST, SECOND, THIRD, FOURTH ADDENDUM - DEVL 1046DevelopmentStatus:03/12/2018 Approved by Ron Carlson Department:DA Date:

Roe, AlanDrafted By: 1165ID:

CONTRACT DETAILSLessee: BRENNAN HOLDINGS NO. 100, LLC

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

Administrator: Pasley, Kyle County: Washington Total acres: 121.58



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 25-35% of the gross sales price to the School and Institutional Trust Lands Administration ("SITLA"), subject tocertain minimum lot prices.

SUMMARYThese addendums acknowledge that active development has commenced and the lessee has taken exclusive possession ofcertain portions on the lease premises. The lease allows SITLA to retain its right to enter and control the leased property untilactive development starts. In addition, addendum one slightly modifies the lands included in the lease to exclude a small parcelwhich was previously sold.



RECONCILIATION PAYMENT - DEVL 1075 - LOT 169DevelopmentStatus:03/12/2018 Approved by Ron Carlson Department:DA Date:


CONTRACT DETAILSLessee: CW CORAL CANYON, LLC

Address: 1222 WEST LEGACY CROSSINGBOULEVARDSUITE 6CENTERVILLE, UT 84014


Start Date: 10/29/2016 Beneficiary: Institution for the Blind 15.55 ac (1.97%);Miners Hospital 355.21 ac (44.99%);Public Buildings 0.27 ac (0.03%);School 149.10 ac (18.88%);Utah State University 250.33 ac (31.70%);Youth Development Center 19.18 ac (2.43%)


Project Code: SUNCR 005 00 000 Project Name: Coral Canyon 2016 Development Lease

LAND PARCELS (GIS Review of Description: 02/21/2017)T41S, R14W, SLB&M Section 33 WITHIN PARCELS 10,11 19.40 acres

T42S, R14W, SLB&M Section 17 WITHIN THE NW4NW4NW4, WITHIN PARCELS 5,6,8 9.99 acres

T42S, R14W, SLB&M Section 18 WITHIN PARCELS 5,6,8 182.84 acres

T42S, R14W, SLB&M Section 18 WITHIN AREA 4 54.38 acres

T42S, R14W, SLB&M Section 18 WITHIN (SEE M&B) - OLD FIRE STATION PARCEL 1.27 acres

T42S, R14W, SLB&M Section 18 LOTS 1,2,76,77,97,105, PART OF LOT 110, PART OF LOT111,279,281,283,285,293

3.26 acres

T42S, R14W, SLB&M Section 18 WITHIN LOTS 3, 6, 13, 15-19, WITHIN PARCELS 5,6,8 27.33 acres

T42S, R14W, SLB&M Section 18 WITHIN AREA 4 PARCEL 20.40 acres

T42S, R14W, SLB&M Section 4 WITHIN SW4SW4, WITHIN PARCELS 5,6,8 0.97 acres

T42S, R14W, SLB&M Section 4 WITHIN PARCELS 10,11 123.60 acres

T42S, R14W, SLB&M Section 4 WITHIN PARCEL 13 2.41 acres


T42S, R14W, SLB&M Section 5 WITHIN PARCELS 10,11 2.78 acres



T42S, R14W, SLB&M Section 5 CORAL CANYON PHASE 1 - PARCEL B (FUTURE COMMERCIAL) 0.68 acres

T42S, R14W, SLB&M Section 5 WITHIN SE4SE4, WITHIN PARCELS 5,6,8 0.56 acres

T42S, R14W, SLB&M Section 6 WITHIN SW4SE4, AREA 3 22.11 acres

T42S, R14W, SLB&M Section 7 WITHIN E2NE4, AREA 3 23.85 acres

T42S, R14W, SLB&M Section 7 WITHIN THE SE4SE4, PARCELS 5,6,8 7.37 acres

T42S, R14W, SLB&M Section 7 WITHIN N2, AREA 3 74.30 acres

T42S, R14W, SLB&M Section 7 PART OF LOT 110, PART OF LOT 111, LOTS126,127,168,169,170,183,184,185,188

1.70 acres

T42S, R14W, SLB&M Section 8 WITHIN PARCELS 5,6,8 109.52 acres


RECONCILIATION PAYMENT - DEVL 1075 - LOT 169 (Continued)T42S, R14W, SLB&M Section 8 WITHIN NW4SW4SE4SW4, NW4SE4SW4, NW4NE4SE4SW4,

NW4NW4SE4, NW4SE4NE4, WITHIN PARCELS 5,6,835.00 acres

T42S, R15W, SLB&M Section 13 WITHIN AREA 4 3.12 acres

SUMMARYThe lessee is responsible for making reconciliation payments for lot sales in Highland Park to bring the lot price up to 20% of thefinal sales price of the finished home. It was determined that a reconciliation payment was necessary for Lot 169.

The reconciliation payment for lot 169 is $11,928.80, the difference between 20% of the final sale price of $279,644.00 and thetake down price of $44,000.00. This amount will be booked as additional lot sale revenue. The beneficiary of Lot 169 is School.



APPROVAL - C 26754 - DEV SALE AND PATENT ISSUEDDevelopmentStatus:03/12/2018 Approved by Ron Carlson Department:DA Date:


CONTRACT DETAILSPurchaser: CORAL CANYON BOULEVARD, LLC

Address: 2250 N CORAL CANYON BLVDSUITE 100WASHINGTON, UT 84780


Start Date: 11/21/2017 Beneficiary: Miners Hospital

Patent Number: P-20550 Patent Date: 02/13/2018

Project Code: SUNCR 004 01 000 Project Name: Coral Canyon Commercial Improved

LAND PARCELS (GIS Review of Description: 09/05/2017)T42S, R14W, SLB&M Section 5 CORAL CANYON PHASE 1(AMENDED) - PARCEL A-1 0.70 acres

SUMMARYThis sale was originally reported on the Director's Actions of November 27, 2017 (ID #779). An addendum was signed assigningthe contract from Sunbrothers, LLC to Coral Canyon Boulevard, LLC. The purchase price of $200,000.00 has been paid, and apatent has been issued to the buyer. The School and Institutional Trust Lands Administration ("SITLA") paid 50% of the closingcosts and a basic policy for title insurance in the amount of $6,756.50. The transaction closed on February 28, 2018. Thisparcel was sold in conjunction with the sale of Coral Canyon Town Center II building (DEVL 763DIS) which closed on the samedate and was reported on the Director's Actions of November 27, 2017 (ID #781).



SUBDIVISION APPROVAL - SUBD 50 - VILLAS AT GREEN SPRING PHASE 1DevelopmentStatus:03/12/2018 Approved by Ron Carlson Department:DA Date:




Administrator: Langston, Aaron County: Washington Total acres: 15.10

Beneficiary: School


Developer: Brennan Holdings 100 Subdivision: Villas at Green Springs Phase 1

LAND PARCELS (GIS Review of Description: 03/06/2018)T42S, R15W, SLB&M Section 3 VILLAS AT GREEN SPRING PHASE 1 15.10 acres

SUMMARYThis subdivision is developed pursuant to Development Lease DEVL 1046 with Brennan Holdings No. 100, LLC. The Board ofTrustees approved this lease on September 26, 2013. The subdivision plat was recorded on February 23, 2018. This parcel hasbeen subdivided into 54 lots, private streets and common areas.

Private streets and common areas containing 11.12 acres of land are being conveyed by plat. The Enabling Act value of schoollands on the balance sheet is to be reduced by an amount of $11.12. Development land sale revenue will be debited for theamount.



SUBDIVISION LOT SALE - SUBD 50 - VILLAS AT GREEN SPRINGS PHASE 1DevelopmentStatus:03/12/2018 Approved by Ron Carlson Department:DA Date:




Administrator: Langston, Aaron County: Washington Total acres: 15.10

Beneficiary: School


Developer: Brennan Holdings 100 Subdivision: Villas at Green Springs Phase 1

SUBDIVISION LOCATION (GIS Review of Description: 03/06/2018)T42S, R15W, SLB&M Section 3 VILLAS AT GREEN SPRING PHASE 1 15.10 acres

LOTS SOLDLOT 401 0.09 acres Certificate of Sale: C-26634-50-401 Patent: P-20361-50-401

Beneficiary: School Certificate Date: 02/26/2018 Patent Date: 02/15/2018

Lot Price: $18,750.00 Fees: $54.00

LOT 402 0.07 acres Certificate of Sale: C-26634-50-401 Patent: P-20361-50-401


Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00


SUBDIVISION LOT SALE - SUBD 50 - VILLAS AT GREEN SPRINGS PHASE 1 (Continued)LOT 409 0.06 acres Certificate of Sale: C-26634-50-401 Patent: P-20361-50-401


Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00




Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00




Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00



Lot Price: $18,750.00 Fees: $54.00

SUMMARYThe purchaser has purchased the land with the purpose of subdividing, developing and selling lots in two (2) bulk lot sales withinthe same subdivision.

The School and Institutional Trust Lands Administration ("SITLA") received $562,500.00 for lots 404, 405, 410, 411, 416, 417,429, 430, 431, 432, 433, 434, 435, 436, 441, 442, 443, 444, 445, 501, 502, 503, 504 as well as $1,620.00 for the water paymentfor a total sales price of $564,120.00.

SITLA received $450,000.00 for lots 401, 402, 403, 406, 407, 408, 409, 412, 413, 414, 415, 418, 419, 420, 421, 422, 423, 424,425, 426, 427 428, 437, 438, 439, 440, 446, 447, 448, and 449 as well as $1,296.00 for the water payment for a total sales priceof $451,296.00.

These sales have been completed and patents have been issued to the buyer, pursuant to DEVL 1046.



INTEREST RATEAccountingStatus:03/12/2018 Approved by Ron Carlson Department:DA Date:

Babinsky, MichaelDrafted By: 1175ID:

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

CURRENT YEAR: 4.50% ONE YEAR AGO: 3.75%

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%.



Date post:	22-Oct-2020
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BACKGROUND FINANCIAL/REVENUE SUMMARY TYPE ......2018/03/12 · The project area has been surveyed...

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