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RESOLUTION - Upset Bid for Property at 138 Black Rd - #2016-5
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RESOLUTION - Upset Bid for Property at 138 Black Rd - #2016-5
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5/4/2016 10:02:51 AM
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2/16/2016 4:15:07 PM
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2. The County Clerk shall cause a notice of the first upset bid to be published. The <br />notice shall contain a general description of the property, the amount and terms of the <br />first upset bid offer, and a notice that within 10 days any person may raise the bid by not <br />less than ten percent (10%) of the first one thousand dollars ($1,000) and five percent <br />(5%) of the remainder plus advertising costs. <br />3. Persons wishing to upset the first upset bid offer that has been received shall submit a <br />sealed bid with their offer to the County Attorney's Office within 10 days after the notice <br />of sale is published. At the conclusion of the 10 -day period, the County Attorney shall <br />open the bids, if any, and the highest such bid will become the new offer. If there is more <br />than one bid in the highest amount, the first such bid received will 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 passed <br />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 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 cash, <br />cashier's check, or certified check. The County will return the deposit on any bid not <br />accepted, and will return the deposit on an offer subject to upset if a qualifying higher bid <br />is received. The County will return the deposit of the final high bidder at closing. The <br />qualifying higher bidder will also be responsible for all advertising costs associated with <br />the bid. <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 the final <br />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 above is <br />hereby accepted. The appropriate County officials are authorized to execute the instruments <br />necessary to convey the property. <br />t� <br />Dated this the IS day of February, 2016. <br />AT EST: <br />no <br />a el M. Lee, Cler <br />Lee County Board of Commissioners <br />.a��A_Daj�� <br />Amy M. Dalrymple, C air <br />Lee County Board of Commissioners <br />
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