assignment approval - ml 50857 - gemstone fossil

ASSIGNMENT APPROVAL - ML 50857 - GEMSTONE FOSSILCoal & MineralStatus:02/12/2018 Approved by David Ure Department:DA Date:

Gold, AlyDrafted By: 1090ID:

CONTRACT DETAILSAdministrator: Mansfield, Jerry County: Juab Total acres: 80.00

Start Date: 06/01/2007 Beneficiary: School

Expiration Date: 05/31/2027

FINANCIAL/REVENUEAssignment fee of $50.00 paid by Got Named Inc., check no. 551.

SUMMARYA record title assignment is approved for 100% interest in this lease to Jeremy Fuller, 1174 E. Electra Lane, Sandy, UT 84094-4015, by Paul Geffner. No override reserved.

TYPE OF RECORD: APPROVAL

State of Utah School and Institutional Trust Lands Administration of 1Form 2

ASSIGNMENT APPROVAL - ML 51888 - METALLIFEROUS MINERALSCoal & MineralStatus:02/12/2018 Approved by David Ure Department:DA Date:


CONTRACT DETAILSAdministrator: Mansfield, Jerry County: Uintah Total acres: 222.44



FINANCIAL/REVENUEAssignment fee of $50.00 paid by Tommy S. Thompson, check no. 522.

SUMMARYA record title assignment is approved for 100% interest in this lease to Tommy S. Thompson, 7281 Tico Dr., West Jordan, UT84081, by Golden Dragon USA LLC. No override reserved.


State of Utah School and Institutional Trust Lands Administration Page 1 of 1Form 2

ASSIGNMENT APPROVAL - ML 53492 MP - INDUSTRIAL SANDSCoal & MineralStatus:02/12/2018 Approved by David Ure Department:DA Date:


CONTRACT DETAILSAdministrator: Bedingfield, Andrew County: Kane Total acres: 640.00



FINANCIAL/REVENUEAssignment fee of $50.00 was paid by Kevin T. Mulhearn, check no. 1540.

SUMMARYA record title assignment is approved for 100% interest in and to this lease to Western Sands, Inc., 60 Dutch Hill Road, Ste. 6B,Orangeburg, NY 10962, by Kevin T. Mulhearn. No override reserved.



ASSIGNMENT APPROVAL - ML 53491 MP - INDUSTRIAL SANDSCoal & MineralStatus:02/12/2018 Approved by David Ure Department:DA Date:


CONTRACT DETAILSAdministrator: Bedingfield, Andrew County: Kane Total acres: 320.00



FINANCIAL/REVENUEAssignment fee of $50.00 was paid by Kevin T. Mulhearn, check no. 1539.

SUMMARYA record title assignment is approved for 100% interest in and to this lease to Western Sands, Inc., 60 Dutch Hill Road, Ste. 6B,Orangeburg, NY 10962, by Kevin T. Mulhearn. No override reserved.








FINANCIAL/REVENUEAssignment fee of $50.00 paid by Parr Brown Gee & Loveless, check no. 100446 ($100.00).

SUMMARYA record title assignment is approved for 100% interest in this lease to Allegiant Gold (U.S.) Ltd., Inc., 1090 Hamilton Street,Vancouver BC, Canada V6B 2R9, by Columbus Silver (U.S.) Corporation. No override reserved.



EXTENSION - ML 52127 MP - GYPSUMCoal & MineralStatus:02/12/2018 Approved by David Ure Department:DA Date:

Bedingfield, AndrewDrafted By: 932ID:

CONTRACT DETAILSLessee: WESTERN GYPSITE, LLC

Address: 901 W. MELINDA LN.PHOENIX, AZ 85027

Administrator: Bedingfield, Andrew County: Tooele Total acres: 160.00



LAND PARCELS (GIS Review of Description: 01/31/2012)T1N, R12W, SLB&M Section 32 W2W2 160.00 acres

BACKGROUNDThe subject mineral materials permit was approved effective March 1, 2012 for a term of three (3) years. The permit wassubsequently extended an additional three (3) year term set to expire on February 28, 2018. This permit is for gypsum, and thepermittee mines gypsite dunes in western Tooele County. The lands comprising the permit are within the footprint of a landexchange with the federal government, known as the Utah Test and Training Range ("UTTR"). The permit has seen someproduction of gypsum, and the permittee plans for further gypsite mining on these lands. It is likely that the UTTR will not be fullycomplete for another year, therefore, the permit is extended for an additional one (1) year period.

SUMMARYThis permit is extended for an additional one (1) year period, with the new expiration date being February 28, 2019. The rentaland royalty rates remain unchanged.



CORRECTION TO DA OF FEBRUARY 05, 2018 - ML 42740 - GILSONITECoal & MineralStatus:02/12/2018 Approved by David Ure Department:DA Date:


CONTRACT DETAILSLessee: LEXCO HOLDING LLC

Address: ATTN: DOUGLAS MAUGHAN, CFO29950 SOUTH BONANZA HIGHWAYBONANZA, UT 84008

Administrator: Mansfield, Jerry County: Uintah Total acres: 160.00



SUMMARYOn the Director's Action of February 5, 2018 (ID #1048) this contract was listed for amendment with the date of February 28,2018 as the end of the current 10-year lease term and the date of February 28, 2028 as the new expiration date. The end of thecurrent 10-year term of the lease should have been December 31, 2017 and the new expiration date should have beenDecember 31, 2027.

TYPE OF RECORD: RECORD KEEPING


EXTENSION - ML 51192 OBA - COALCoal & MineralStatus:02/12/2018 Approved by David Ure Department:DA Date:


CONTRACT DETAILSLessee: FOSSIL ROCK RESOURCES LLC

Address: 9TH FLOOR6100 DUTCHMAN LANELOUISVILLE, KY 40205

Administrator: Bedingfield, Andrew County: Emery Total acres: 600.00



BACKGROUNDThis coal lease was approved January 18, 2008. The subject lease is within the Cottonwood Coal Tract (ML 51191-OBA). However, this lease is not subject to any reversion clause as the subject lands were acquired at statehood. At the end of itsprimary term, the lessor has the right to adjust the terms and conditions of the lease contract and to extend the contract for anadditional 10-year term..

NARRATIVEThe Minerals Group has evaluated the subject lease and has determined that it is not necessary to adjust the terms andconditions of the lease contract at this time.

SUMMARYThis contract is extended for an additional 10 years with no change to the lease terms and conditions. The next readjustmentdate will be January 18, 2028.



AMENDED AND EXTENDED - ML 51191 OBA - COALCoal & MineralStatus:02/12/2018 Approved by David Ure Department:DA Date:


CONTRACT DETAILSLessee: FOSSIL ROCK RESOURCES LLC

Address: 9TH FLOOR6100 DUTCHMAN LANELOUISVILLE, KY 40205

Administrator: Bedingfield, Andrew County: Emery Total acres: 8,203.87

Start Date: 01/18/2008 Beneficiary: LEDA/Monument (PL105) 3,978.87 ac (48.50%);Management Fee 246.12 ac (3.00%);School 3,978.88 ac (48.50%)


BACKGROUNDThe coal within this lease, known as the Cottonwood Coal Tract, was acquired by the Trust through the Schools and FederalExchange Act of 1998, PL 105-335. The lease began effective January 18, 2008. The primary term of the lease (10 years)expired on January 17, 2018. This lease will revert to the federal government when the School and Institutional Trust LandsAdministration ("SITLA") has received $26,102,210.00 in rental and royalty income plus accrued interest, calculated pursuant toSection I.D.4 of the MOU dated January 5, 1999, between SITLA, the U.S. Department of the Interior, and the United StatesDepartment of Agriculture ("USDA") Forest Service. Upon reversion the federal government will succeed SITLA as Lessor. TheLessor may readjust the terms and conditions of the lease at the end of its primary term.

NARRATIVEThe Minerals Group has consulted with the Bureau of Land Management ("BLM") regarding a readjustment to the subject leaseas this lease may be conveyed to federal ownership per the terms of PL 105-335. The BLM replied via email to amend andextend the contract for an additional 10 years. The terms and conditions of the amendment will remain the same as the primaryterm, except the language of Section 9.2 of the lease.

The lessee has been paying minimum annual royalties and is current on all payments.

SUMMARYMineral Lease ML 51191-OBA is extended and amended for an additional 10 years. The amendment will only affect Section 9.2of the lease. The language referring to the Minerals Management Service will be replaced with the Office of Natural ResourceRevenue. The next readjustment date will be January 18, 2028.



ASSIGNMENT APPROVAL - ML 29282 - OIL GAS & HYDROCARBONOil & GasStatus:02/12/2018 Approved by David Ure Department:DA Date:


CONTRACT DETAILSAdministrator: Adams, Wes County: Grand Total acres: 640.00



Royalty Rate: 12.5%

FINANCIAL/REVENUEAssignment fee submitted in the amount of $50.00 by Burton W. Hancock, check no. 6074 ($100.00).

SUMMARYA record title and operating rights assignment is approved for interests in this lease as indicated below to Quentin Hancock, 415Grant Street, Santa Cruz, CA 95060, by John I. Kessler, Successor Trustee of the Burton Hancock Trust u/t/d 1-8-1998. Nooverride reserved.

Township 17 South, Range 25 East, SLB&M, Section 16 Record Title: 95.000000%

Operating Rights NE4, between surface & 3960' (160.00 acres): 65.8750% NW4, between surface & 3960' (160.00 acres): 26.2500% SW4, between surface & 3,833' (160.00 acres): 38.7500%



BOND / INSURANCE STATEWIDE - REPLACEMENTOil & GasStatus:02/12/2018 Approved by David Ure Department:DA Date:

Alldredge, DavidDrafted By: 1052ID:

BOND / INSURANCE DETAILSPrincipal Name: ANADARKO PETROLEUM CORPORATION Bond Type: Surety Bond

Amount: $160,000.00 Effective Date: 07/29/1991Reference Number: 203521

Issued By: SEABOARD SURETY CO.

SUMMARYOn May 12, 2003, Anadarko Petroleum Corporation, P.O. Box 1330, Houston, TX 77251, submitted to the Agency areplacement surety bond, no. 22013528, in the amount of $160,000.00, issued by Liberty Mutual Insurance Company,Interchange Corporate Center, 450 Plymouth Road, Suite 400, Plymouth Meeting, PA 19462. This bond replaced bond no.203521, in the amount of $160,000.00, issued by Seaboard Surety Company, 5750 Pineland Drive, Suite 304, Dallas, TX75231.

On June 28, 2004, Anadarko Petroleum Corporation submitted a decrease rider to bond no. 22013528, decreasing the penaltyamount to $15,000.00.

Neither of these actions were submitted to the Director for approval. The Business System will be updated to reflect thesechanges.



ASSIGNMENT APPROVAL - OIL, GAS & ASSOCIATED HYDROCARBONSOil & GasStatus:02/12/2018 Approved by David Ure Department:DA Date:


CONTRACT NAME BENE ACRESTYPECOUNTYML 53539 ROCKIES STANDARD

OIL COMPANY, LLCSCH GRND O&G 640.00

ML 53540 ROCKIES STANDARDOIL COMPANY, LLC

SCH GRND O&G 640.00

FINANCIAL/REVENUEAssignment fee of $100.00 ($50.00 per lease) was paid by Rockies Standard Oil Co., check no. 4368 (total check amount is$300.00 to cover separate assignment).

SUMMARYA record title assignment is approved for 50% interest in the lease(s) to Rolling Rock Resources, LLC, 1411 East 840 NorthOrem, UT 84097 by Rockies Standard Oil Company, LLC. No override reserved.



ASSIGNMENT APPROVAL - OIL, GAS & ASSOCIATED HYDROCARBONSOil & GasStatus:02/12/2018 Approved by David Ure Department:DA Date:


CONTRACT NAME BENE ACRESTYPECOUNTYML 53529 ROCKIES STANDARD

OIL COMPANY, LLCSCH UINT O&G 600.00


LEDA, MGT, SCH UINT O&G 40.00


SCH GRND O&G 352.65


SCH GRND O&G 40.44

FINANCIAL/REVENUEAssignment fee of $200.00 ($50.00 per lease) was paid by Rockies Standard Oil Co., check no. 4368 (total check amount is$300.00 to cover separate assignment).

SUMMARYA record title assignment is approved for 75% interest in the lease(s) to Rolling Rock Resources, LLC, 1411 East 840 NorthOrem, UT 84097 by Rockies Standard Oil Company, LLC. No override reserved.



PARTIAL RELEASE OF DEED RESTRICTION - C-24309 - PS 6663 - PATENT NO. 18963SurfaceStatus:02/12/2018 Approved by David Ure Department:DA Date:

Lund, DianeDrafted By: 1062ID:

BACKGROUNDThe following parcel was sold on January 24, 1992 via Private Pre Sale No. 6663 and Certificate of Sale No. 24309 to the SanJuan County School District:

Township 43 South, Range 16 East, SLB&MSection 32: Within

Containing 50.537 acres, more or less

School FundSan Juan County

Patent No. 18963 was issued on March 9, 1992 to the San Juan County School District.

NARRATIVEThe San Juan County School District is planning to exchange 5.00 acres of the parcel purchased from the School andInstitutional Trust Lands Administration ("SITLA") with the Utah Navajo Trust Fund. They have asked that the followingrestriction from the original patent be released for the 5.00 acres they are planning to exchange:

"The estate of the purchaser in all of the above described lands so sold shall endure only for so long as the lands are used for apublic purpose and, upon failure of such use, shall revert to the Division of State Lands and Forestry."

SITLA recognizes that the School District, the Navajo Trust Fund and those they serve will benefit from the proposed exchangebetween those parties and is willing to remove the Deed Restriction by executing a release.

SUMMARYSITLA has issued a partial release of the deed restriction on 5.00 acres of the parcel sold to the San Juan County SchoolDistrict.These 5.00 acres will be part of a pending exchange between the San Juan County School District and the Utah NavajoTrust Fund.



APPROVAL OF CHANGE APPLICATION NO. A43033, WATER RIGHT NO. 49-1517SurfaceStatus:02/12/2018 Approved by David Ure Department:DA Date:

Fausett, ChrisDrafted By: 1072ID:

SUMMARYPermanent Change Application No. a43033 was approved by the State Engineer on February 2, 2018. This change applicationwas filed to add a point of diversion and place of use of 0.05 cfs of water as evidenced by Water Right No. 49-1517.

Heretofore, the water has been diverted from a spring located South 1800 feet and West 2050 feet from the NE Corner ofSection 10, T16S, R22E, SLB&M (Cedar Camp Spring). The water has been used for the year-round stockwatering of 600equivalent livestock units (ELUs) in cattle, horses, or equivalent species. The water has been used in all or portions of Section10, T16S, R22E, SLB&M.

Hereafter, the water will be diverted from the same point as heretofore and from an additional spring located North 338 feet andEast 529 feet from the SW Corner of Section 36, T5.5S, R22E, SLB&M (Teepee Pole Spring). The nature of use of the water willremain the same as heretofore. The place of use of the water will remain the same as heretofore, but adding all or portions ofSection 36, T5.5S, R22E, SLB&M.

Proof of beneficial use is due February 28, 2023.



APPROVAL - ESMT 2163 - EASEMENTSurfaceStatus:02/12/2018 Approved by David Ure Department:DA Date:

Bartlett, ScottDrafted By: 939ID:

CONTRACT DETAILSLessee: PACIFICORP DBA ROCKY MOUNTAIN POWER

Address: RIGHT OF WAY SERVICES1407 WEST NORTH TEMPLE, SUITE 110SALT LAKE CITY, UT 84116

Administrator: Bartlett, Scott County: San Juan Total acres: 0.65

Beneficiary: School

LAND PARCELS (GIS Review of Description: 01/18/2018)T40S, R22E, SLB&M Section 30 NE4NW4 (WITHIN) 0.65 acres

BACKGROUNDOn January 4, 2018, the applicant submitted the subject application to purchase an easement for a proposed distribution powerline.

The project area has been surveyed for cultural resources by Abajo Archaeology (see Easement No. 1863).

Because the subject alignment was previously submitted for review in conjunction with Easement No. 1863, it is exempt fromreview by the Resource Development Coordinating Committee ("RDCC").

NARRATIVEThe applicant proposes to construct, operate, repair and maintain a proposed distribution power line. The proposed power linewill serve adjacent private property owned by Jared Berrett. Mr. Berrett previously acquired Easement No. 1863 for theinstallation of utilities to serve his property. While that easement included authorization for a power line, PacifiCorp hasrequested that an easement be issued to them separately in lieu of relying on the easement acquired by Mr. Berrett. Theproposed easement is approximately 942.5 feet long and 30 feet wide, containing approximately 0.65 of an acre. Pursuant tothe terms of a settlement agreement between PacifiCorp and the Trust, the term of the easement would be perpetual,contingent upon payment of a 15% rental premium.

The Trust's archaeology staff has reviewed the cultural resource survey that was completed by Abajo Archaeology. No eligiblesites were located in the affected project area, and the easement has been cleared for cultural resources with a finding of "NoHistoric Properties Affected."

FINANCIAL/REVENUEThe application fee of $750.00, the easement rental assessment of $742.58, and the rental premium of $111.39 have beensubmitted. Pursuant to the terms of the settlement agreement the administrative fee is included in the consideration paid.

SUMMARYThis non-exclusive easement is to construct, operate, repair and maintain a proposed distribution power line. The term will beperpetual.



APPROVAL OF SUBLEASE - GP 22521 10 - GRAZING (BLOCK)SurfaceStatus:02/12/2018 Approved by David Ure Department:DA Date:

Stewart, SlateDrafted By: 988ID:

CONTRACT DETAILSPermittee: RJ&S RICKENBACH, LLC

Address: 1037 N PLAZA DRRICHFIELD, UT 847011862

Administrator: Stewart, Slate County: Sevier Total acres: 3,738.33



AUMs: 335.00

SUMMARYThe grazing permittee received approval to sublease 100% (335 AUMs) interest in this grazing permit to Bar Backwards C, P.O.Box 39, Salina, UT 84654. The term of the sublease is five (5) years, beginning March 1, 2018 and ending December 31, 2022,which would encompass five (5) grazing seasons for this grazing permit.

The sublease fee in the amount of $335.00 will be added to the annual billing beginning with the 2018 billing and ending with the2022 billing.



PATENT NO. 20551 ISSUED - C 26744SurfaceStatus:02/12/2018 Approved by David Ure Department:DA Date:


CONTRACT DETAILSPurchaser: YOUNG KIM AND SUSAN KIM

Address: P.O. BOX 353PAYSON, UT 846510353

Administrator: Torgerson, Ron County: Iron Total acres: 79.41



Patent Number: P-20551 Patent Date: 02/05/2018

LAND PARCELS (GIS Review of Description: 06/14/2017)T35S, R11W, SLB&M Section 2 SE4NE4 (SEE METES & BOUNDS) 39.12 acres

T35S, R11W, SLB&M Section 2 LOT 3 (WITHIN) (SEE METES & BOUNDS) 40.29 acres

SUMMARYThis property was sold November 15, 2017 via Certificate of Sale No. 26744. The property has been paid in full.

Patent No. 20551 was issued on February 5, 2018.



OTHER BUSINESS ARRANGEMENT NEGOTIATED SALE OF RESERVED ESTATE -COMPLETION - C 26760

SurfaceStatus:02/12/2018 Approved by David Ure Department:DA Date:


CONTRACT DETAILSPurchaser: CLEAN HARBORS CLIVE LLC

Address: 42 LONGWATER DRIVENORWELL, MA 02061

Administrator: Fausett, Chris County: Tooele Total acres: 640.00

Beneficiary: School

LAND PARCELS (GIS Review of Description: 02/06/2018)T1N, R12W, SLB&M Section 16 ALL 640.00 acres

BACKGROUNDThe surface of the Subject Property was exchanged in 1981 to the Purchaser's predecessor-in-interest via State of Utah PatentNo's 18743 and 18755. The surface estate was subsequently developed as a hazardous waste landfill. The reserved mineralestate was previously designated for transfer to the Bureau of Land Management ("BLM") in the pending Utah Test and TrainingRange ("UTTR") land exchange. However, citing potential liability concerns, the BLM has requested that the Subject Propertynot be included in the exchange.

Pursuant to Utah Code Ann. 53C-2-401(d)(ii) and 53C-2-401(2) the trust may dispose of mineral interests in trust lands, withapproval of the Board of Trustees, in the event that their retention would create a liability exceeding their value.

This negotiated sale was approved at the October 19, 2017 Board Meeting.

NARRATIVESubsequently, the mineral estate of this property was sold through a negotiated sale on January 31, 2018.

FINANCIAL/REVENUESale Price: $11,616.00Terms of Sale: CASH SALE

Processing Charge: $500.00Application Fee: $250.00

TOTAL AMOUNT PAID: $12,366.00

SUMMARYThe mineral estate of the property was sold to Clean Harbors Clive, LLC through a negotiated sale on January 31, 2018 for asale price of $11,616.00.



FIVE-YEAR REVIEW - SULA 1577 - TELECOMMUNICATIONSurfaceStatus:02/12/2018 Approved by David Ure Department:DA Date:

Bagley, GaryDrafted By: 1074ID:

CONTRACT DETAILSLessee: KERR-MCGEE OIL & GAS ONSHORE LP

Address: 1368 SOUTH 1200 EASTVERNAL, UT 84078

Administrator: Bagley, Gary County: Uintah Total acres: 0.09



LAND PARCELS (GIS Review of Description: 02/06/2018)T10S, R22E, SLB&M Section 10 PARCEL 1 (NBU SITE)

(WITHIN)0.03 acres

T10S, R23E, SLB&M Section 2 PARCEL 3 (BONANZA SITE)SE4SE4 (WITHIN)

0.03 acres

T11S, R21E, SLB&M Section 16 PARCEL 2 (LOVE SITE)NW4NW4 (WITHIN)

0.03 acres

BACKGROUNDThe authorized use of the lease is for three (3) separate communication towers on three (3) separate subject parcels, adjoiningexisting well sites, for a private network communication access system to provide support to the lessee's energy operations, asset forth in the lease agreement. The five-year lease review date is April 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:This is a self-insuring company, and the lease is covered for insurance purposes. A $10,000.00 surety bond is in place and isadequate for the purposes of this lease.

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

ENVIRONMENTAL COMPLIANCE:Two (2) of the three (3) sites of the lease were inspected and reviewed for environmental compliance in 2017 and have beenrated as low risk. There is no evidence of underground or above-ground petroleum storage tanks, stained soil, 55-gallondrums/containers of any size, unauthorized uses, or solid waste on the premises. The remaining site (NBU) will be inspected inFebruary or March 2018, as weather permits. It is not anticipated to have any concerns, but the lease file will be documentedregarding the visit.

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 $6,980.00 per year to $7,475.00 per year, effective April 1, 2018. Acertified 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 $150.00 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 or inflationary adjustments. The existinglease is currently considered the highest and best use of a parcel of this type of land.


FIVE-YEAR REVIEW - SULA 1577 - TELECOMMUNICATION (Continued)

Annual Base Rental: $7,475.00

There is no additional subleasing on this communication tower site.

SUMMARYThe annual base rental has been increased from $6,980.00 to $7,475.00, effective April 1, 2018. The next five-year review willbe completed by April 1, 2023.





CONTRACT DETAILSLessee: RED ROCK GATHERING COMPANY, LLC

Address: C/O NATHAN BRADY, LANDMANSUMMIT MIDSTREAM PARTNERS999 18TH STREET, STE 2500SDENVER, CO 80202

Administrator: Bagley, Gary County: Uintah Total acres: 0.01



LAND PARCELS (GIS Review of Description: 06/11/2012)T9S, R24E, SLB&M Section 25 SE4SE4 (WITHIN) 0.01 acres

BACKGROUNDThe authorized use of the subject parcel is for a communication site tower and associated small radio equipment building. Theprimary use is for the lessee's mobile radio and microwave radio communication system. The five-year review date is May 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 $10,000.00 surety bond is in placeand is adequate for the purposes of this site.


ENVIRONMENTAL COMPLIANCE:This lease was inspected and reviewed for environmental compliance in 2017 and has been rated as low risk. There is noevidence 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 periodic increases in the annual base rental amount. Pursuant to the lease agreement, it isrecommended that the annual base rental be increased from $3,800.00 per year to $4,360.00 per year, effective May 1, 2018. Acertified notice was sent informing the lessee of this action. No response has been received.





FIVE-YEAR REVIEW - SULA 1743 - TELECOMMUNICATION (Continued)

SUMMARYThe annual base rental has been increased from $3,800.00 to $4,360.00, effective May 1, 2018. The next five-year review willbe completed by May 1, 2023.





CONTRACT DETAILSLessee: UNION TELEPHONE COMPANY INC

Address: PO BOX 160MOUNTAIN VIEW, WY 82939

Administrator: Bagley, Gary County: Daggett Total acres: 0.06



LAND PARCELS (GIS Review of Description: 02/05/2018)T3N, R18E, SLB&M Section 21 WITHIN 0.06 acres

BACKGROUNDThe authorized use of the subject parcel is for a cellular-wireless communication site tower on Phil Pico Mountain andassociated small radio equipment building. The five-year review date is May 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.


ENVIRONMENTAL COMPLIANCE:This lease was inspected and reviewed for environmental compliance in October 2017 and has been rated as low risk. There isno 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 periodic increases in the annual base rental amount. Pursuant to the lease agreement, it isrecommended that the annual base rental be increased from $6,100.00 per year to $6,535.00 per year, effective May 1, 2018. Acertified notice was sent informing the lessee of this action. No response has been received.




SUMMARYThe annual base rental has been increased from $6,100.00 to $6,535.00, effective May 1, 2018. The next five-year review will


FIVE-YEAR REVIEW - SULA 1550 - TELECOMMUNICATION (Continued)be completed by May 1, 2023.



APPROVAL OF ESMT 2157 - DEVELOPMENT EASEMENT- RED STONE SEWEREASEMENT

DevelopmentStatus:02/12/2018 Approved by David Ure Department:DA Date:

Roe, AlanDrafted By: 1061ID:

CONTRACT DETAILSLessee: WASHINGTON CITY

Address: 111 NORTH 100 EASTWASHINGTON, UT 84780

Administrator: Langston, Aaron County: Washington Total acres: 1.01


Project Code: MPI13 000 00 000 000 Project Name: Sienna Hills

LAND PARCELS (GIS Review of Description: 12/28/2017)T42S, R15W, SLB&M Section 13 WITHIN 1.01 acres

NARRATIVEThis easement is for a public sewer system to further development of trust land in Sienna Hills and surrounding areas. Thesewer system will be constructed and maintained by Washington City. The City is responsible for all costs associated with this.This is a perpetual easement.

FINANCIAL/REVENUEThe sewers are directly necessary to accommodate future development in Sienna Hills and achieving optimal value for the land.Therefore, no compensation for the easement is required.

SUMMARYThis easement is granted to build a public sewer system to further development of SITLA land in Sienna Hills and surroundingareas.



APPROVAL OF ROE 6498 - DEVELOPMENT RIGHT OF ENTRY-ATV/UTV RALLYDevelopmentStatus:02/12/2018 Approved by David Ure Department:DA Date:


CONTRACT DETAILSLessee: OFF ROAD SPORTS LLC

Address: 1227 W 4370 SHURRICANE, UT 84737

Administrator: Wilson, Tracie County: Washington Total acres: 3.36



Project Code: MISCE 000 00 000 000 Project Name: Miscellaneous Parcels

LAND PARCELS (GIS Review of Description: 10/04/2017)T42S, R14W, SLB&M Section 36 WITHIN 1.91 acres

T43S, R14W, SLB&M Section 2 WITHIN 1.45 acres

NARRATIVEThe grantee has paid a $400.00 fee for the right to occupy the land for the purpose of conducting an all- terrain vehicle ("ATV")and utility-task vehicle ("UTV") rally, on existing trails only. The grantee agreed to ensure that all equipment stays on theexisting trails within the permitted property. The grantee required all of the race participants to sign waivers releasing the Schooland Institutional Trust Lands Administration ("SITLA") and the grantee from accident liability. Furthermore, the grantee agreed tokeep the permitted property in pristine condition by ensuring that all participants in the race pack out anything that was packedin. The right of entry started on November 8, 2017 in order for the grantee to get familiar with the trails, while the race took placeNovember 9, 2017. The grantee had until November 12, 2017 to remove any trail markers from the race area. At the expirationof this agreement, the grantee agreed to pay the grantor additional funds based on revenue derived from the right of entry.

FINANCIAL/REVENUEAt the expiration of the agreement the SITLA received 3% of all gross revenues from the tours.

SUMMARYThe ROE is granted for the purpose of conducting a ATV/UTV Rally in Washington County.



APPROVAL OF ROE 6489 - DEVELOPMENT RIGHT OF ENTRY-DESERT ROADS UTVTOURS

DevelopmentStatus:02/12/2018 Approved by David Ure Department:DA Date:


CONTRACT DETAILSLessee: DESERT ROADS AND TRAILS SOCIETY

Address: 952 N. WESTRIDGE DR.SAINT GEORGE, UT 84770

Administrator: Wilson, Tracie County: Washington Total acres: 32.57

Start Date: 01/18/2018 Beneficiary: Deaf 0.16 ac (0.49%);School 32.41 ac (99.51%)


Project Code: MISCE 000 00 000 000 Project Name: Miscellaneous Parcels

LAND PARCELS (GIS Review of Description: 09/22/2017)T42S, R14W, SLB&M Section 29 (WITHIN) SE4SW4 OF SECTION 29 SLB&M 0.16 acres

T42S, R14W, SLB&M Section 32 (WITHIN) SECTION 32 SLB & M 1.93 acres

T42S, R14W, SLB&M Section 36 (WITHIN) SECTION 36 SLB&M 16.45 acres



T43S, R14W, SLB&M Section 5 (WITHIN) E2 OF SECTION 5 SLB & M 3.71 acres

NARRATIVEThe grantee has paid a $400.00 fee for the right to occupy the land for the purpose of conducting an all terrain utility-task vehicle("UTV") event called the 'Winter 4X4 Jamboree', on existing trails only. The grantee agreed to ensure that all equipment stayedon the existing trails within the permitted property. All personnel and participants followed the age and education requirements,equipment requirements, and helmet requirements, as required by applicable law and the rules established for this race.Furthermore, the grantee agreed to keep the permitted property in pristine condition by ensuring that all participants in the racepack out anything that was packed in. The right of entry started on January 18, 2018 and ended on January 20, 2018. Thegrantee was required to remove all trash and debris from the race area. At the expiration of this agreement, the grantee paid thegrantor additional funds based on revenue derived from the right of entry.

FINANCIAL/REVENUEAt the expiration of the agreement the School and Institutional Trust Lands Administration received an $824.00 reconciliationpayment. This was calculated as 3% of all gross revenues from the tour.

SUMMARYThe grantee used the property to run guided all terrain UTV tours known as the 'Winter 4X4 Jamboree' in Washington County.



SUBDIVISION APPROVAL-SUBD 49-LADERA AT SIENNA HILLS PHASE 2DevelopmentStatus:02/12/2018 Approved by David Ure Department:DA Date:


CONTRACT DETAILSLessee: BRENNAN HOLDINGS NO. 200, LLC

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


Beneficiary: School

Project Code: MPI13 001 00 004 000 Project Name: Sienna Hills Parcel 4

Developer: Brennan Holdings No. Subdivision: Ladera at Sienna Hills Phase 2

LAND PARCELS (GIS Review of Description: 10/18/2017)T42S, R15W, SLB&M Section 13 WITHIN NE4 6.44 acres

SUMMARYThis subdivision is developed pursuant to Development Lease DEVL 1052 with Brennan Holdings No. 200, LLC. The Board ofTrustees approved this lease on September 26, 2013. The subdivision plat was recorded on January 22, 2018. This parcel hasbeen subdivided into 30 lots, private streets and common areas.

Private streets and common areas containing 4.26 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 $4.26. Development land sale revenue will be debited for theamount.



SUBDIVISION LOT SALE - SUBD 38DevelopmentStatus:02/12/2018 Approved by David Ure Department:DA Date:


CONTRACT DETAILSLessee: IVORY HOMES LTD.

Address: ATTN. EAGLE MTN PROJECT978 EAST WOODOAK LANESALT LAKE CITY, UT 84117

Administrator: Erler, Elise County: Utah Total acres: 27.83

Beneficiary: School

Project Code: EGLMT 003 00 000 000 Project Name: Eagle Mountain / Mid Valley

Subdivision: Overland Subdivision Phase A

SUBDIVISION LOCATION (GIS Review of Description: 04/14/2017)T5S, R2W, SLB&M Section 36 WITHIN PARCEL 36-E ACCORDING TO LOCAL SURVEY 118 27.83 acres

LOTS SOLDLOT 133 0.31 acres Certificate of Sale: C-26634-38-133 Patent: P-20391-38-133

Beneficiary: School Certificate Date: 02/01/2018 Patent Date: 10/13/2017

Lot Price: $6,269.00 Fees: $0.00

NARRATIVEThis transaction has been executed pursuant to Development Lease DEVL 1074, which allows the lessee to build and sellhomes, and sell parcels for related purposes, on the lease premises. The Board of Trustees approved this lease on November19, 2015. At the sale of each home to a third-party purchaser, the lessee will pay the School and Institutional Trust LandsAdministration ("SITLA") 4% of the gross sales price for every home. The percentage will increase by two (2) percentage pointsevery three (3) years, for the first time in 2020, until it reaches 12% in 2029. It will remain at 12% for the remainder of the term ofthe lease. The lessee received a credit of $8,831 for water rights needed to develop the lot.

SUMMARYLot 133 has been sold.



SUBDIVISION LOT SALE - SUBD 49-LADERA AT SIENNA HILLS PHASE 2DevelopmentStatus:02/12/2018 Approved by David Ure Department:DA Date:


CONTRACT DETAILSLessee: BRENNAN HOLDINGS NO. 200, LLC

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


Beneficiary: School

Project Code: MPI13 001 00 004 000 Project Name: Sienna Hills Parcel 4

Developer: Brennan Holdings No. Subdivision: Ladera at Sienna Hills Phase 2

SUBDIVISION LOCATION (GIS Review of Description: 10/18/2017)T42S, R15W, SLB&M Section 13 WITHIN NE4 6.44 acres

LOTS SOLDLOT 17 0.07 acres Certificate of Sale: C-26634-49-00 Patent: P-20361-49-00


Lot Price: $6,000.00 Fees: $82.00

LOT 18 0.08 acres Certificate of Sale: C-26634-49-00 Patent: P-20361-49-00


Lot Price: $6,000.00 Fees: $82.00



Lot Price: $6,000.00 Fees: $82.00



Lot Price: $6,000.00 Fees: $82.00



Lot Price: $6,000.00 Fees: $82.00



Lot Price: $6,000.00 Fees: $82.00



Lot Price: $6,000.00 Fees: $82.00



Lot Price: $6,000.00 Fees: $82.00


SUBDIVISION LOT SALE - SUBD 49-LADERA AT SIENNA HILLS PHASE 2 (Continued)LOT 39 0.06 acres Certificate of Sale: C-26634-49-00 Patent: P-20361-49-00


Lot Price: $6,000.00 Fees: $82.00



Lot Price: $6,000.00 Fees: $82.00



Lot Price: $6,000.00 Fees: $82.00



Lot Price: $6,000.00 Fees: $82.00



Lot Price: $6,000.00 Fees: $82.00



Lot Price: $6,000.00 Fees: $82.00



Lot Price: $6,000.00 Fees: $82.00



Lot Price: $6,000.00 Fees: $82.00



Lot Price: $6,000.00 Fees: $82.00



Lot Price: $6,000.00 Fees: $82.00



Lot Price: $6,000.00 Fees: $82.00



Lot Price: $6,000.00 Fees: $82.00



Lot Price: $6,000.00 Fees: $82.00


SUBDIVISION LOT SALE - SUBD 49-LADERA AT SIENNA HILLS PHASE 2 (Continued)LOT 52 0.08 acres Certificate of Sale: C-26634-49-00 Patent: P-20361-49-00


Lot Price: $6,000.00 Fees: $82.00



Lot Price: $6,000.00 Fees: $82.00



Lot Price: $6,000.00 Fees: $82.00



Lot Price: $6,000.00 Fees: $82.00



Lot Price: $6,000.00 Fees: $82.00



Lot Price: $6,000.00 Fees: $82.00



Lot Price: $6,000.00 Fees: $82.00



Lot Price: $6,000.00 Fees: $82.00



Lot Price: $6,000.00 Fees: $82.00

SUMMARYThis transaction has been executed pursuant to Development Lease DEVL 1052, which allows the developer to developimproved residential lots on the lease premises at its expense. The Board of Trustees approved this lease on September 26,2013.

At the sale of each improved lot in the Ladera subdivisions to a third-party purchaser, the developer pays 10% (reduced from25%) of the gross sale price to the School and Institutional Trust Lands Administration ("SITLA"), subject to certain minimum lotprices. The Ladera subdivisions are built on land with expansive soils, which require intensive mitigation before they can be builton. The reduced percentage is in recognition of the substantially higher development costs as a result of these mitigationrequirements. The board was notified of the reduced percentage on May 18, 2017.

All 30 lots in the subdivision have been sold to Coral Canyon Builders, LLC. The developer has paid $180,000.00 to SITLA forall 30 lots, as well as a water reservation fee of $2,460.00. A patent has been issued.



CANCELED FOR NON-PAYMENTAccountingStatus:02/12/2018 Approved by David Ure Department:DA Date:

Babinsky, MichaelDrafted By: 1079ID:

CONTRACT NAME BENE TYPECOUNTYML 49230 GREAT WESTERN

ENERGY LLCSCH UINT OS

ML 49235 GREAT WESTERNENERGY LLC

SCH UINT OS

ML 51886 MP WILLIAM L BOWN SCH BOX BS

ML 52991 AG QUARTZ LLC SCH JUAB MM

ML 53429 FOSTER WILSON RES, SCH GRND MM

FINANCIAL/REVENUEThese leases are cancelled due to non-payment.

SUMMARYThese mineral leases were not paid on or before the cancellation date of January 16, 2018.



CANCELED FOR NON-PAYMENTAccountingStatus:02/12/2018 Approved by David Ure Department:DA Date:


CONTRACT NAME BENE TYPECOUNTYML 52636 HAUPTMAN, THOMAS

MSCH UINT O&G

FINANCIAL/REVENUEThis lease is cancelled due to non-payment.

SUMMARYThis Oil & Gas lease was not paid on or before the cancellation date of January 16, 2018.



INTEREST RATEAccountingStatus:02/12/2018 Approved by David Ure Department:DA Date:


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%.



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