NOTICE OF INTENT TO RECEIVE BIDS FOR THE SALE OF SURPLUS REAL ESTATE Notice is hereby given that Vigo County Public Library, 1 Library Square, Terre Haute, Indiana 47807 shall begin receiving bids for former West Terre Haute Branch Library located at 626 West National Avenue, West Terre Haute, Indiana, and more particularly described as follows: Part of Lots 32 and 33 in Vandalia Place, being a subdivision of that part of the West half of the Southeast Quarter of Section 19, Township 12 North, Range 9 West, lying between the Paris and the National Roads, more particularly described as follows: Commencing at the Southwest corner of Lot 33 in said Vandalia Place; thence North 130 feet along the West line of said Lot 33 to the Northwest corner of said Lot 33; thence Northeasterly along the North line of said Lot 33 a distance of 21 feet; thence Southeasterly to a point on the South line ofs aid Lot 32, said point being on the North right-of-way line of National Avenue a distance of 11 feet 9 inches Northeasterly from the Southwest corner of said Lot 32; thence Southwesterly along said North line of National Avenue 50 feet 9 inches to the place of beginning. Also Lot Number Thirty-four (34) in Vandalia Place, being a Subdivision of that part of the West half of the South East Quarter of Section 19, Township 12 North of Range 9 West, lying between the Paris and National Roads. Also Lot Number Thirty-five (35) in Vandalia Place, being a Subdivision of that part of the West half of the South East Quarter of Section 19, Township 12 North of Range 9 West, lying between the Paris and National Roads. Parcel Numbers: 84-06-19-455-015.000-022 84-06-19-455-014.000-022 84-06-19-455-019.000-022 This notice is being issued pursuant to the provisions of Indiana Code 36-1-11-4(c). The Library Board has previously determined that the subject property is not needed for library purposes and should be sold. For those reasons, sealed bids will be received by the Library beginning at 9:00 a.m. on the 11th day of August, 2016, and continuing from day to day thereafter until noon on the 18th day of August, 2016, (all times local times in the City of Terre Haute, Vigo County, Indiana). All sealed bids will be opened at noon on August 18, 2016, at the Vigo County Public Library main branch at which time they will be read aloud and the sale will continue under the following guidelines. 1.All bidders shall receive notice of the apparent highest bid and shall be given a period of two (2) business days after the date of the written notice from the Library of the higher bid to increase their prior bids. All increased bids must be in increments of at least $500. 2.An apparent high bidder whose bid is less than an increased bid shall be notified in writing by the Library and given two (2) business days to increase its prior bid to a sum that is higher than the prior received apparent high bid. 3.The above process shall continue with each increased bid until there is no longer any increased bids at the end of the two (2) business day period allowed for a bidder to increase its prior bid, notwithstanding that the completion of the above-described process may result in the Corporation receiving increased bids after the originally announced bid cut-off date of noon on August 18th. The sale of the subject property will be made to the highest and best bidder, subject to the requirement that the subject property sell for at least $50,000.00 which is the minimum bid that will be considered. Prior to offering the property for sale it was subject to (2) independent appraisals which determined that the average appraised value of the property is $61,500.00. The appraisals are available for inspection during regular business hours of the administrative offices of the Corporation located at 1 Library Square, Terre Haute, Indiana. The Library reserves the right to reject all bids received and/or to thereafter retain the services of an auctioneer to conduct an auction sale of the Subject Property pursuant to I.C. 36-1-11-4(e) or to sell the subject property through the use of a real estate broker pursuant to I.C. 36-1-11-4(g). In addition to the foregoing conditions and reservations, sale of the subject property is subject to the following terms: 1.The successful bidder shall receive title by good and sufficient warranty deed executed by the duly authorized officers of the Library. The Library will provide the successful bidder with an ALTA owner's policy of title insurance in the amount of the total purchase price, procured at the Corporation's expense from a title insurer authorized to conduct such business in the State of Indiana and selected by the Library, containing only the usual and customary standard exclusions and exceptions from such insurance coverage. Additional title endorsements and/or a simultaneously issued lenders policy shall be at the expense of the successful bidder. Any survey that a bidder might desire to ascertain the actual acreage comprising the Subject property shall be at the bidder's expense and shall not affect the procedural time lines herein stated. 2.The successful bidder shall accept the Subject Property in its "as is - where is" condition without expressed or implied warranties of any sort passing from the Corporation (other than warranties of title), including, but not limited to, warranties of habitability; warranties that the property is suitable for any particular purpose; or warranties that the Subject property is free of asbestos or any other toxic or hazardous materials whether above ground or underground. 3.The improvements located on the subject property will be open for examination and inspection to all potential bidders between noon and 2:00 p.m. on August 9, 2016. Potential bidders will be provided an opportunity during this time to view the subject and make any examinations or inspections they deem necessary and appropriate to evaluate the property. 4.All bidders are charged to make due diligent inquiry to ascertain that their intended use of the subject property, if they are the successful bidder, complies with all applicable zoning, land use, soil compaction and/or all other legal or physical conditions or restrictions. 5.The Subject Property will not be sold to any person who is ineligible to accept the transfer of title thereto by virtue of the provisions of I.C. 36-1-11-16. 6.Any bid submitted by a trust (as defined at I.C. 30-4-1-1(a)) must identify each beneficiary of the trust and each settlor or person who is empowered to modify or revoke the trust. 7.Possession of the Subject Property shall be provided to the successful bidder at closing. 8.All bids shall be open to public inspection. 9.Bid forms and instructions may be picked at the Vigo County Public Library, 1 Library Square, Terre Haute, Indiana, between the hours of 9:00 a.m. and 4:30 p.m. 10.All bids shall be accompanied by a cashier's check or money order payable to the Vigo County Public Library in the sum of $1,000.00 to secure the Library that such bidder, if successful, shall close on the purchase of the Subject property in accordance with the terms and conditions of this Notice. 11.Acceptance of any bid is conditioned upon its approval by the Director and Treasurer of the Library. 12.Closing shall take place after compliance with the procedural requirements of IC 36-1-11-3(b) at the reasonable convenience of the Library and the successful bidder at the office of the closing agent selected by the Library. The successful bidder shall pay the entire purchase price in cash, by certified check or bank draft, at closing. 13.Pursuant to IC 36-1-11-4(e) the Library reserves the right to retain an auctioneer to conduct an auction sale of the Subject property at any time after the closure of the receipt of written bids and the Library's determination to reject all such previously received bids. If such auctioneer is retained, then the Library shall cause each bidder who shall have submitted a bid on the Subject Property to receive written notice of the date, time and place of the auction. The Library also reserves the right to reject all bids and sell the property through the use of a real estate broker pursuant to I.C. 36-1-11-4(g). Dated this 28th day of August, 2016. Vigo County Public Library Kristi Howe, Director Dennis Callahan, Treasurer 167296 TS 7/28, 8/4/16 hspaxlp
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