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RES - 2024 - 050 ' q ` 1 CA ! ' b 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 <br /> # 9863668263 , Hillsborough , NC . ; and <br /> WHEREAS , North Carolina General Statue 160A- 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 , <br /> in 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 <br /> property described above through the upset bid procedure of North Carolina General <br /> Statute 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 <br /> 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 sealed bid <br /> with their offer to the office of the Purchasing Agent , located at 131 West Margaret <br /> Lane , Hillsborough , NC , within 10 days after the notice of sale is published . At the <br /> conclusion of the ten - day period , the Purchasing Agent shall open the bids , if any, <br /> and the highest such bid will become the new offer . If there is more than one bid in <br /> the highest amount , 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 <br /> of 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 /> 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 <br /> certified check . The Countywill return the deposit on any bid not accepted , and will <br /> return the deposit on an offer subject to upset if a qualifying higher bid is received . <br /> The Countywill return the deposit of the final high bidder at closing . <br /> 7 . The terms of the final sale are that : <br />