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offer. If there is more than one bid in the highest amount, the first such bid received will become <br />the new offer. <br />4. If a qualifying higher bid is received, the County Clerk shall cause a new notice of upset bid to <br />be published, and shall continue to do so until a 10 -day period has passed without any qualifying <br />upset bid having been received. <br />5. A qualifying higher bid is one that raises the existing offer by not less than 10 percent (10%) <br />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 percent <br />(5%) of the bid in addition to advertising costs; the deposit may be made in cash, cashier's check, <br />or certified check. The County will return the deposit on any bid not accepted, and will return the <br />deposit on an offer subject to upset if a qualifying higher bid is received. The County will return <br />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 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 deed. <br />9. 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 />ce 10. If no qualifying upset bid is received after the initial public notice, the offer set forth above is <br />hereby accepted by the County. Because the property that is the subject of this offer is owned <br />jointly by the County of Lee and the City of Sanford, final approval of the offer is contingent <br />upon approval and acceptance of the offer by the City of Sanford. <br />Dated this the 1101ay of July, 2017. <br />Amy M. Dalrymple, Chair <br />Lee County Board of Commissioners <br />NORTH CAROLINA, LEE COUNTY <br />Presented for registration on thisz—da <br />of 20, .-at .LL -A( <br />recorde in Book aq Page I_ <br />Pamela G. Britt, Register of Deeds <br />