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5 <br />ORANGE COUNTY BOARD OF COMMISSIONERS <br />RESOLUTION ANNOUNCING SALE OF PROPERTY <br />GRAHAM STREET <br />CHAPEL HILL, NORTH CAROLINA <br />WHEREAS, Orange County owns property described as two (2) tracts of land <br />located in the Town of Chapel Hill, Orange County North Carolina and <br />designated as #r3 BL C Lloyd Place, Pi/63 Tract'J22472, PIN 988-06-6297 and <br />#i2 BL C Lloyd Place, Pr/63, Tract X22473, PIN 9788-o6-~2i3 by the Orange <br />County Land Records; and <br />WHEREAS, North Carolina General Statute r6oA-26g permits the county to sell <br />property by upset bid after receipt of an offer for the property; and <br />WHEREAS, the County has received an offer to purchase the property described <br />above, in the amount of $38,oi8, submitted by Toben Properties, LLC, Chapel <br />Hill, North Carolina; and <br />WHEREAS, Toben Properties, LLC has paid the required five percent (5%) <br />deposit on the offer, <br />THEREFORE, the County Commissioners of Orange County resolves that: <br />r, The County Commissioners propose to accept the Toben Properties, LLC <br />offer to buy the property described above through the upset bid procedure <br />of North Carolina General Statute 16oA-269 as further detailed in this <br />Resolution. <br />2, The Clerk to the Board shall cause a notice of the proposed sale to be <br />published, The notice shall describe the property and the amount of the <br />offer, and shall state the terms under which the offer may be upset, <br />3. Persons wishing to upset the offer that has been received shall submit a <br />sealed bid with their offer to the office of the Orange County Purchasing <br />Director within ten (zo) days after the notice of sale is published. At the <br />conclusion of the io-day period, the Purchasing Director shall open the <br />bids, if any, and the highest such qualifying bid will become the new offer, <br />If there is more than one qualifying bid in the highest amount, the first <br />such bid received will become the new offer. If there is more than one <br />qualifying bid in the highest amount received on the same day, the first <br />such bid opened will become the new offer. <br />4. If a qualifying higher bid is received, the clerk to the Board shall cause a <br />new notice of upset bid to be published, and shall continue to do so until a <br />io-day period has passed without any qualifying upset bid having been <br />received, At that time, the.amount of the final high bid shall be reported to <br />the County Commissioners. <br />