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2. The County Clerk shall cause a notice of the proposed sale to be published. The <br />notice shall contain a general description of the property, the amount and terms of <br />the first upset bid offer, and a notice that within 10 days any person may raise the bid <br />by not less than ten percent (10 %) of the first one thousand dollars ($1,000) and five <br />percent (5 %) of the remainder plus any and all advertising costs. <br />3. Persons wishing to upset the first upset bid offer that has been received shall submit <br />a sealed bid with their offer to the County Attorney's Office within 10 days after the <br />notice of sale is published. At the conclusion of the 10 -day period, the County <br />Attorney shall open the bids, if any, and the highest such bid will become the new <br />offer. If there is more than one bid in the highest amount, the first bid received will <br />become the new offer. <br />4. If a qualifying higher bid is received, the County Clerk shall cause a new notice of <br />upset bid to be published, and shall continue to do so until a 10 -day period has <br />passed without any qualifying upset bid having been received. <br />5. A qualifying higher bid is one that raises the existing offer by not less than 10 percent <br />(10 %) of the first $1,000 of that offer and 5 percent (5 %) of the remainder of that <br />offer. <br />6. A qualifying higher bid must also be accompanied by a deposit in the amount of 5 <br />percent (5 %) of the bid in addition to advertising costs; the deposit may be made in <br />cash, cashier's check, or certified check. The County will return the deposit on any <br />bid not accepted, and will return the deposit on an offer subject to upset if a <br />qualifying higher bid is received. The County will return the deposit of the final high <br />bidder at closing. <br />7. The terms of the final sale are as follows: <br />a. The buyer must pay with cash, cashier's check or certified check at the time of <br />closing. <br />8. The County reserves the right to withdraw the property from sale at any time before <br />the final high bid is accepted and the right to reject at any time all bids. <br />9. If no qualifying upset bid is received after the initial public notice, the offer set forth <br />above is hereby accepted. The appropriate County officials are authorized to <br />execute the instruments necessary to convey the property. <br />Dated this the 4th day of November 2013. <br />ATTEST: <br />Charles T. Parks, Chairman <br />Lee County Board of Commissioners <br />ay e�MLee., Clerk to th Board <br />