Resolution - 9/07 - Offer to Purch. Prop. on Fields Dr.

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• 4. The offeror has deposited with the Lee County Finance Office the sum of One Hundred and Twenty -Five Dollars ($125.00) to defray the cost of advertising and administrative services in connection with this offer. 5. The offeror has deposited with the Lee County Finance Office the sum of Seventy -Five Dollars ($75.00) which deposit will be retained until an upset bid (with appropriate deposit) is made, the offer is accepted and the sale is executed, or the offer is rejected. If the offeror fails to complete the sale within thirteen (13) days following notice of acceptance of the offer by the Clerk to the Board, the deposit shall be forfeited and become the property of Lee County. 6. After the qualifying deposits have been made the Clerk to the Board shall cause a notice of such offer to be published in accordance with the requirements of N.C. General Statute Section 160A -269. 7. Within ten (10) days following the publication of the notice of such offer, any person may upset the bid by a sealed written offer to purchase the property at a sum which is greater than the original offer by ten (10 %) percent accompanied by a deposit of five (5 %) percent of the increased bid and a sum of One Hundred and Twenty -Five ($125.00) Dollars to defray advertising and administrative services. Said sum is to be paid either in cash, certified check, cashier's check, or bank money order. The increased or upset bid should be delivered to the County Finance Officer at the Lee County Government Center, 106 Hillcrest Drive, Sanford, North Carolina, on • or before 5:00 p.m., on or before the 10 day following publication of said notice. Use of the mail or any other means of delivery is at the bidder's risk and any bid received after the deadline will not be considered. At 5:00 p.m. on said date, the Finance Officer shall open and read all qualifying bids. Bids with conditions or terms not contained in the original offer will not be accepted or considered. The higher qualifying bid becomes the new offer under consideration. In the case of identical bids, the one submitted earliest will be accepted as the high bid. 8. The Clerk to the Board is directed, should a qualified upset bid herein before described be received within the time allowed by law to re- advertise the offer at the increased bid amount as often as is necessary until a final qualifying bid which has not been upset has been received. 9. The Clerk to the Board shall report the final qualifying bid to the Board of Commissioners at the first regular meeting of the Board, which meets more than five (5) days after the bid, acquires such status. 10. The Board of Commissioners shall make a final decision within thirty (30) days after the date of the regular session on which the final qualifying bid is listed on the agenda for consideration. Failure to act on said offer within said period shall constitute rejection and the deposit shall be returned to the last and highest bidder. 11. The Board of Commissioners may at any time reject any and all offers. 12. If no qualifying upset bid is received after the initial public notice, the offer set forth above is hereby accepted. The appropriate County officers shall •