Laurel outlook., 1949-08-03
NOTICE OF SALE OF MORT
GAGE LANDS OWNED BY
THE STATE OF MONTANA
IN YELLOWSTONE COUNTY.
Office of the Commissioner OF
State Lands and Investments
Helena, Montana
Ii. 90 1QA0

helena, montana
July 20, 1949
NOTICE is HEREBY GIVEN
that the Commissioner of State
Lands and Investments of the
State of Montana will receive
sealed bids up to 200 o'clock
P. NJ, Friday, September 9, 1949,
at the office of the Commission
er, State Capitol, Helena, Mon
tana, for the sale of the herein
after described mortgage lands
owned by the State of Montana
in Yellowstone County. All bids
should be addressed to the Com
missioner, enclosed in a sealed
envelope marked "Bids on Mort
gage Lands" and accompanied
by a certified check for the mi
tial payment and fees as here
matter explained. All bids will
be opened on the date and at the
hour above given and all bidders
and other interested persons are
invited to be present if they so
desire. After the bids have been
opened and the highest bid has
been determined, the lessee shall
be granted the preference right
to purchase the land at the high
est bid made by any other bidder.
Description of Land
The NEA, EANWA, Me-
SEA, SEASEA of Section
IS, Township 8 North, Range
80 East, M. P. NJ. contain
- OHn 4x-A ~. locc |
appraised at $1,800.00.
Terms and Conditions of Sale
The sale will be held under the
provisions of Chapter 165 of the
Political Code, R. C. M. 1885, !
and all acts amendatory thereof.
No land shall be sold for less
than the appraised price.
Every bidder upon the land
shall accompany his bid with a
certified check for not less than
20 per cent of the total adver-
tised and appraised price as
shown above. The purchaser is
required to pay in cash on the
date of sale not less than 20 per
cent of the total purchase price,
and in case the balance on the
purchase price is not an exact
multiple of $500, then he shall
pay such additional sum as is
necessary to reduce the balance
20 an ever multiple of $500.
He may at his option pay a larg-
er portion of the purchase price.
He is also required to pay the
of $500 as a fee for the
Iced or each certificate to be
ssued to him. Every purchas-
n must in addition to making
he other payments, make settle
nent with the owner of the i'm
,rovements on the land as pro-
yided by law.
The entire balance of the pur-
.hase price draws interest at the
ate of 5 per cent per annum
md will be payable on the
.mortization plan in 20 annual
nstallments.
All sales are made subject to
ne approval and confirmation of
he State Board of Land Com
nissioners and no sale shall be !
eemed completed until after
UGH approval and the issue Of
he certificate of purchase.
The State reserves all miner
Is in the land sold excepting
bat the purchaser of mortgage
ands shall be entitled to receive
royalty of six and one-fourth
per cent of all gas and
produced from such mortgage =
as provided by Section =
805.65, R. C. M. 1885. The
tate will have a lien on the
rop on all lands sold for Install
tents on principal and interest
n the unpaid balance of the
urchase price. The lands will
e sold subject to all rights-of- ;
and other easements and all
eservations, including Federal
eservations, obtained in the land
rior to the date of sale.
In the case of lands under
ase the purchaser shall be
wen possession by the State on
arch LIST next succeeding the
ate of sale and not before, I'M
SIS the lease expires prior to
lat date, except through special
yreement between the purchaser
I'd the lessee.
If no bids are received for the =
nd advertised and the land is
1t sold on the day set for the 4
lie, it may be sold by the Com (
issioner at private sale at any =
me within two years from the 2
lte fixed for the sale under (
'evious notice, to any qualified :
,rson who will pay the apprais- Z
price and make the required (
itial payment. :
w. P. PILGERAM, Commits Z
sioner of State Lands and (
Investments of the State of =