AG 2005 08 15 - Laserfiche WebLink

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PUBLIC NOTICE SALE OF PROPERTY OWNED BY CABARRUS COUNTY An offer of One Million Three Hundred Eighty-Nine Thousand Two Hundred Fifty-Three Dollars ($1,389,253.00) and Contract (the "Offer") has been submitted by Allen Craven, LLC, for the purchase of certain property owned by Cabarrus County (the "County"), more particularly described in Deed Book 3007, Page 112, of the Cabarrus County Registry (located at 51 and 57 Union Street, South, Concord, NC, and commonly known as the former Cabarrus Bank/First Union Building and drive-through area) (the "Property"). Persons wishing to upset the Offer shall submit a sealed Bid and Contract (the "Upset BidlBids" or "Bids") to the office of the Clerk to the Board of Commissioners (the "Clerk"), Cabarrus County Manager's Office, Cabarrus County Govemrnental Center, 65 Church Street, S.E., Concord, NC 28025, by 5:00 P.M. on the 9th day of August, 2005. At that tirne, the Clerk shall open the Bid or Bids, if any, and the highest qualifying Bid will becorne the new Offer. If there is more than one (1) Bid in the highest amount, the first such Bid received will become the new Offer. A qualifying higher Bid is one that raises the existing Offer to an arnount not less than One Million Four Hundred Fifty Eight Thousand Seven Hundred Sixty-Six Dollars ($1,458,766.00) accompanied by a Contract in form similar, if not identical, to the Contract accornpanying the Offer. A qualifying higher Bid rnust be accornpanied by a deposit in the arnount of five percent (5%) of the Bid; the deposit rnay be 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 buyer must pay cash at closing. The Board of Commissioners of Cabarrus County rnust approve the final high Offer before the sale is closed, which it will do within thirty (30) days after the final upset Bid period has passed. 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 tirne all Bids. Further information rnay be obtained at the office of Clerk to the Board of Commissioners, Cabarrus County Manager's Office, Cabarrus County Governrnental Center, 65 Church Street, S.E., Concord, NC 28025, or at telephone 704-920-2110 during normal business hours. Advertisement Date: July 29, 2005 f-t.o