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HomeMy WebLinkAboutRES-2006-006 Resolution Announcing Sale of Property Graham Street chapel Hill NCj-a~-~ao~ ~~ ORANGE COUNTY BOARD OF COMMISSIONERS RESOLUTION ANNOUNCING SALE OF PROPERTY GRAHAM STREET CHAPEL HILL, NORTH CAROLINA WHEREAS, Orange County owns property described as two (2) tracts of land located in the Town of Chapel Hill, Orange County North Carolina and designated as #i3 BL C Lloyd Place, Pi/63 Tract 722472, PIN 9788-06-6297 and #12 BL C Lloyd Place, Pi/63, Tract X22473, PIN 9788-06-7213 by the Orange County Land Records; and WHEREAS, North Carolina General Statute i6oA-269 permits the county to sell property by upset bid after receipt of an offer for the property; and WHEREAS, the County has received an offer to purchase the property described above, in the amount of $38,oi8, submitted by Toben Properties, LLC, Chapel Hill, North Carolina; and WHEREAS, Toben Properties, LLC has paid the required five percent (5%) deposit on the offer; THEREFORE, the County Commissioners of Orange County resolves that: 1. The County Commissioners propose to accept the Toben Properties, LLC offer to buy the property described above through the upset bid procedure of North Carolina General Statute 16oA-269 as further detailed in this Resolution. 2. The Clerk to the Board shall cause a notice of the proposed sale to be published. The notice shall describe the property and the amount of the offer, and shall state the terms under which the offer maybe upset. 3. Persons wishing to upset the offer that has been received shall. submit a sealed bid with their offer to the office of the Orange County Purchasing Director within ten (io) days after the notice of sale is published. At the conclusion of the io-day period, the Purchasing Director shall open the bids, if any, and the highest such qualifying bid will become the new offer. If there is more than one qualifying bid in the highest amount, the first such bid received will become the new offer. If there is more than one qualifying bid in the highest amount received on the same day, the first such bid opened will become the new offer. 4. If a qualifying higher bid is received, the clerk to the Board shall cause a new notice of upset bid to be published, and shall continue to do so until a io-day period has passed without any qualifying upset bid having been received. At that time, the amount of the final high bid shall be reported to the County Commissioners. 5. A qualifying higher bid is one that raises the existing offer by not less than ten percent (io%) of the first $i,ooo.oo of that offer and five percent (5%) of the remainder of that offer. 6. A qualifying higher bid must also be accompanied by a deposit in the amount of five percent (5%) of the bid; the deposit maybe made in cash, cashier's check or certified check. The County will return the deposit on any bid not accepted and will return the deposit on an offer subject to upset if a qualifying higher bid is received. The County will return the deposit of the final high bidder at closing. ~. The terms of the final sale are that a. The County Commissioners must approve the final high offer before the sale is closed, which it will do within 3o days after the final upset bid period has passed; and b. The buyer must pay cash at the time of closing. c. The Deed from the County to the purchaser will be one without warranties of title or otherwise, including environmental, and will be the N.C. Bar Association North Carolina Non-Warranty Deed Form ~ (©1977, 2002), a copy of which is attached hereto as Exhibit A. The Buyer will pay a112oo6 ad valorem taxes on the property. 8. The County reserves the right to withdraw the property from sale at any time before the final high bid is accepted and the right to reject at any time all bids. 9. If no qualifying upset bid is received after the initial public notice, the offer set forth above is hereby accepted as detailed in this Resolution. The appropriate county officials are authorized to execute the instruments necessary to convey the property to the highest bidder. Adopted the 24th day of January, 2006