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7 <br /> RES-2024-050 Attachment 3 <br /> Resolution Authorizing Upset Bid Process for 0.2-acre plot, PIN #9863668263, <br /> Hillsborough, NC <br /> WHEREAS, Orange County owns certain property, 0.2 acres of land located at PIN #9863668263, <br /> Hillsborough, NC.; and <br /> WHEREAS, North Carolina General Statue 160A-269 permits the County to sell property by upset <br /> 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$5,000 submitted by Mr. Thomas Darling and Ms. Anthea Darling; and <br /> WHEREAS the offerors have paid the required five percent (5%) deposit on the 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 may be 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 131 West Margaret Lane, <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 the <br /> upset bid to be published and shall continue to do so until a 10—day period has passed <br /> without any qualifying upset bids having been received. At that time, the amount of the <br /> final high bid shall be reported to the Orange County Board of County 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 offer. <br /> 6. A qualifying higher bid must also be accompanied by a deposit in the amount of five <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 will <br /> return the deposit of the final high bidder at closing. <br /> 7. The terms of the final sale are that: <br /> - The County must approve the final high offer before the sale is closed, which it will do <br /> within 30 days after the final upset bid period has passed, and <br /> - The buyer must pay with cash at the time of the closing. <br />