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4 <br /> RES-2022-048 �f,G(I3 <br /> Attachment 2 <br /> Resolution Authorizing Upset Bid Process for 0.27 acre plot, GIs Pin#965833971, <br /> Hillsborough, NC <br /> WHEREAS, Orange County owns certain property, 0.27 acres of land located at GIS Pin# <br /> 985833971, Chapel Hill, NC; and <br /> WHEREAS, North Carolina General Statue 760A-269 permits the County to sell property by <br /> upset bid, after receipt of an offer for the property; and <br /> WHEREAS, Orange County has received an offer to purchase the property described above, in <br /> the amount of$4,000 submitted by Dan and Jean Ricca, owners of adjacent property located at <br /> 200 Dumont, Hillsborough, NC; and <br /> WHEREAS Mr. Ricca has paid the required five percent (5%) deposit on its offer; <br /> THEREFORE, we,the Orange County Board of County Commissioners resolve that: <br /> 1. The Orange County Board of County Commissioners authorizes the sale of the property <br /> described above through the upset bid procedure of North Carolina General Statute <br /> 160A-269. <br /> 2. The Orange County Purchasing Agent shall cause a notice of the proposed sale to be <br /> published. The notice shall describe the property and the amount of the offer, and shall <br /> state the terms under which the offer maybe upset. <br /> 3. Persons wishing to upset the offer that has been received shall submit a sealed bid with <br /> their offer to the office of the Purchasing Agent, located at 405 Meadowlands Drive, <br /> Hillsborough, NC, within 10 days after the notice of sale is published. At the conclusion <br /> of the ten day period,the Purchasing Agent shall open the bids, if any, and the highest <br /> such bid will become the new offer. If there is more than one bid in the highest amount, <br /> the first such bid received will become the new offer.. <br /> 4. If a qualifying higher bid is received,the Purchasing Agent shall cause a new notice of <br /> the upset bid to be published, and shall continue to do so until a 10—day period has <br /> passed without any qualifying upset bids having been received. At that time, the <br /> amount of the final high bid shall be reported to the Orange County Board of County <br /> Commissioners. <br /> 5. A qualifying higher bid is one that raises the existing offer by not less than ten percent <br /> (10%) of the first $1,000 of that offer and five percent (5%) of the remainder of that <br /> offer. <br />