East Bear Lake – Cisco Road (C-27215)

What are trust lands?

Trust lands are parcels of land granted by Congress to Utah at statehood to support specific beneficiaries, including public schools, universities, hospitals, and reservoirs.  Trust lands are not public lands, but are generally open for public use, when possible.  Trust lands were allocated specifically to generate revenue to support our beneficiaries.  SITLA currently manages 3.3 million surface acres on behalf of our beneficiaries.

ONLINE BIDDING INFORMATION:

To register as a bidder or to place a bid, please see box to the right.

Bid Start Time for this Parcel:  Thursday, November 14, 2024 – 10:10am MST
Bid End Time for this Parcel: Tuesday, November 19, 2024 – 10:10am MST

CLOSING COSTS:

The closing costs are expenses incurred to prepare the property for sale.  A large portion of the costs is for the completion of a cultural resource survey, which is required by law.

These costs are in addition to the 10% down payment.  All closing costs are due from the winning bidder within 24 hours after completion of the auction and cannot be financed.

TOTAL CLOSING COSTS FOR THIS PARCEL:  $14,144.50

 

Beneficiary:

The net proceeds from the sale of this property will be deposited into the permanent fund for the beneficiary of Public Schools.

Legal Description:

Township 14 North, Range 6 East, SLB&M
Section 4: W½E½SE¼ (within) (survey completed)

Location:

This property is located on the east side of Bear Lake in Rich County.  The east property boundary is Cisco Road.  The northern boundary of the parcel is 1.3 miles from the Utah/Idaho state line.   Laketown, Utah is located approximately 10 miles to the south.

GPS Points (to center of property):
Latitude 41.98137844
Longitude -111.26717616

Access:

Access is from Cisco Road, which is the eastern boundary of the property.

Additional Information:

This property is surrounded by private property and other trust lands.  This triangular-shaped property has most recently been used for grazing range lands.    The vegetation is sage and native grasses.  The topography is gently sloping hillside.  The view from the parcel of Bear Lake is amazing.

Acreage:

18.02 acres, more or less (survey attached)

Water Rights:

No water rights are included with the property.

Utilities:

No utilities are located on site, but are nearby.  Power lines are located along Cisco Road.

Zoning:

BD – Beach Development and A – Agriculture

Financing:

Financing will be offered for this parcel at a variable interest rate of prime plus 2.5% or 7.5%, whichever is greater.  A down payment of 10% and closing costs will be due at the auction.  The remaining balance can be financed for up to a 20 year term.

During the time when the property is being financed (before a patent is issued), the county records will show the property as state trust lands with notices being sent in care of the purchaser.

Mineral Lease Encumbrances:

None

Surface Lease Encumbrances:

  1. Predesignation No. 788, issued to Rich County for roads which are considered valid existing rights, with a perpetual term (this road in the eastern property boundary)
  2. Grazing Permit No. 22714-13, issued to Dan C. Peart (these lands will be removed from this grazing permit when the property is sold)

Cultural Resource Covenant:

A cultural resource survey was conducted on this parcel.  No significant sites were identified.

Disclosures:

  1. Please see the disclosure summary and the certificate of sale template document for general disclosures which apply to all parcels being offered for sale at this auction.
  2. All mineral rights will be reserved.
  3. The sand and gravel on the parcel will be subject to a royalty provision if sold commercially.
  4. The property will be conveyed subject to all valid existing rights.

Tyler McIntosh
Area Manager
Diane Lund
Assistant Managing Director, Surface; Land Sales Coordinator

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