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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 bid with their <br /> offer to the County Attorney's Office within 10 days after the notice of sale is published. <br /> Their bid must be accompanied with a deposit of 5% of their offer and advertising costs. <br /> If there is more than one bid in the highest amount, the first such 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 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; 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 non- <br /> warranty deed. <br /> d. Advertising fees are non-refundable. <br /> e. The County Attorney does not perform title searches on the property and the <br /> Offeror can retain their own attorney to perform such title search. <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 reserves the right to reject at any time all bids. <br /> 9. If no qualifying upset bid is received after the initial public notice and 10-day upset <br /> bid period has expired, the offer set forth above is hereby accepted. The appropriate <br />