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NOW, THEREFORE, BE IT RESOLVED by the Lee County Board of Commissioners <br /> as follows: <br /> 1. The Lee County Board of Commissioners authorizes the sale of the property described <br /> above through the upset bid procedure of North Carolina General Statute §160A-269. <br /> 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 the <br /> offer, and a notice that within 10 days any person may raise the bid by not less than ten <br /> percent (10%) of the first one thousand dollars ($1,000) and five percent (5%) of the <br /> remainder. <br /> 3. Persons wishing to upset the offer that has been received shall submit a sealed bid <br /> with their offer to the County Attorney's Office within 10 days after the notice of sale is <br /> published. At the conclusion of the 10-day period, the County Attorney shall open the <br /> bids, if any, and the highest such bid will become the new offer. If there is more than one <br /> 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 <br /> without any qualifying upset bid having been received. period has passed <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; the deposit may be made in cash, cashier's check, or certified <br /> 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 <br /> 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 is 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 /> Y <br />