2023 - 3 RESOLUTION - Authorizing the Sale of Property Located at 721 Cox Maddox Road - 2-6-2023

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NOW,THEREFORE, BE IT RESOLVED by the Lee County Board of Commissioners as follows: 1. The Lee County Board of Commissioners authorizes the sale of the property described above through the upset bid procedure of North Carolina General Statute §160A-269. 2. The County Clerk shall cause a notice of the proposed sale to be published. The notice shall contain a general description of the property, the amount and terms of the offer, and a notice that within 10 days any person may raise the bid by not less than ten percent(10%)of the first one thousand dollars($1,000)and five percent(5%)of the remainder. 3. Persons wishing to upset the offer that has been received shall submit a sealed bid with their offer to the County Attorney's Office within 10 days after the notice of sale is published. The upset bid should be delivered to the County Attorney's Office located at 408 Summit Drive, Sanford NC 27330, on or before 5:00 p.m. on or before the 101h day following publication of said notice. Use of the mail or any means of delivery is at the bidder's risk and any bids received after the deadline will not be considered. Any bid with conditions or terms will not be accepted or considered. 4. At 5:00 p.m. on said date, the County Attorney/Deputy County Attorney shall open the bids, if any, and the highest such bid will become the new offer. If there is more than one bid in the highest amount,the first such bid received will become the new offer. 5. A qualifying higher bid is one that raises the existing offer by not less than 10 percent (10%)of the first$1,000 of that offer and 5 percent(5%)of the remainder of that offer. 6. A qualifying higher bid must also be accompanied by a deposit in the amount of 5 percent(5%) of the bid and accompanying$200.00 for advertising costs. This amount may be made in cash,cashier's check, or certified check. 7. The County will return the deposit and advertising costs on any bid not accepted, and will return the deposit on an offer subject to upset if a qualifying higher bid is received; however, once the actual advertising costs are incurred,those become non-refundable. 8. If a qualifying higher bid is received, the County Clerk shall cause a new notice of upset bid to be published, and shall continue to do so until a 10-day period has passed without any qualifying upset bid having been received. 9. The terms of the final sale are as follows: a. The buyer must pay with cash, cashier's check or certified check at the time of closing. b. The property is sold"as is"with no conditions placed on the bid. c. Title to the subject property shall be transferred to the buyer by a nonwarranty deed. d. Advertising fees are non-refundable once spent.