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3. Persons wishing to upset the first upset bid offer that has been received shall submit a <br />their bid with their offer to the County Attorney's Office and make a deposit of 5 percent <br />(5%) of their offer within 10 days after the notice of sale is published. 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. <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 />b. The property will be sold "as is" with no conditions placed on the bid. <br />c. Title to the subject property shall be transferred to the buyer by a nonwarranty <br />deed. <br />9. 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 />10. If no qualifying upset bid is received after the initial public notice, the offer set forth <br />above is hereby accepted by the County. Because the property that is the subject of this <br />offer is owned jointly by the County of Lee and the City of Sanford, final approval of the <br />offer is contingent upon approval and acceptance of the offer by the City of Sanford. <br />Dated this the d15'� day of August, 2017. <br />=_- Amy . Dalrymple, Chair <br />Lee County Board of Commissioners <br />