Pursuant to §272.001(a) of the Texas Local Government Code, Cypress Springs Special Utility District, a political subdivision of the State of Texas (hereafter “Seller”) provides this public notice of real property and invitation to bid on real property owned by Seller.
1.The location and legal description of the property is as follows:
All that certain tract of land lying in the Wm. Blackston Survey, A-80, of Franklin County, Texas, and more fully described as follows:
BEGINNING at the Northwest Corner of Lot No. 1, Section I, of King’s Country Subdivision, as recorded in Vol. “E”, Page 60, of the Franklin County Surveyor’s Records;
Thence South 130 feet along the WBL of Lot No. 1, Section I, to the Southwest Corner of said lot King’s County Subdivision;
Thence in a westerly direction approximately 132 feet to a point on the EBL of the ROW of Highway 115 lying 130 feet South of the intersection of the EBL of Highway 115 and the SBL of the ROW for King’s Country Blvd., of King’s Country Subdivision;
Thence northerly 130 feet to a point being the intersection of the EBL of Highway 115 and the SBL of the ROW of King’s Country Blvd., of King’s Country Subdivision;
Thence east following the meandering of the SBL of the ROW of King’s Country Blvd. to the Place of Beginning, the Northwest corner of Lot 1, Section 1, King’s Country Subdivision, Franklin County, Texas.
II. General Bid Instructions/Procedures
2.1 All bidders must submit an original of their sealed bid to purchase the herein described real property addressed to Cypress Springs Special Utility District, Attention: Property Bid, prior to the response due date/time of 5:00 pm on September 21, 2009. Any bids received after that time and date shall not be accepted. No exceptions.
2.2 Cypress Springs Special Utility District will promptly review all properly submitted bids.
2.3 Each sealed bid shall include the legal name of the prospective purchaser and a statement whether the prospective purchaser is a sole proprietor, a partnership, or a corporation. If a corporation, the corporation shall also give the date of incorporation and have a corporate seal affixed.
2.4 Each sealed bid shall be signed by the person or persons legally authorized to bind the prospective purchaser to a contract.
2.5 Prospective purchasers, in their sealed bid, shall signify that they have read and understand all conditions concerning the site, as outlined in this invitation for bid and that their bid is made in accordance with the invitation to bid.
2.6 Questions regarding bid requirements should be addressed to Richard Zachary, Cypress Springs Special Utility District, P. O. Box 591, Mt. Vernon, Texas 75457.
2.7 Seller reserves the right to reject any and all bids.
2.8 A bid for less than $100,000.00 will not be considered.
III. Contents of the sealed bid
3.1 The sealed bid shall contain the price being offered for the purchase of this real property. The bid shall be for a cash sale. If a bidder intends to finance the sale, the bidder should have financing arranged in advance. No bid will be accepted that is subject to the Buyer’s obtaining adequate financing.
3.2 The bid shall include proof of the bidder’s financial ability to undertake said bid and shall include a timeline for completion of the sale.
IV. Negotiation and execution of contract
4.1 After acceptance of the highest and best bid, the successful bidder will be required to enter into an earnest money contract for the purchase of the property. The successful bidder shall deposit $1,000.00 with the Seller’s escrow agent.
4.2 The contract for the sale (earnest money contract) will be executed only upon final approval by the Seller.
4.3 Said earnest money contract shall provide for a timely closing date, but no closing shall take place until after the 14th day after the second publication date of this notice. At closing, in addition to any additional terms as may be made a part of the said earnest money contract, the Seller shall deliver a Special Warranty Deed. Said deed shall provide that the property will be sold “as is, where is” with all faults. Seller has not made and specifically disclaims any warranties or representations of any kind or character, express or implied (exclusive of the Warranty of Title) with respect to the property, including but not limited to (1) the value, condition, merchantability, suitability, or fitness of the property for any particular purpose, (2) the manner of quality of construction or of the materials incorporated into the property, (3) the manner, quality or state of repair or lack of repair of any improvements. This provision shall be made a part and included in said special warranty deed.
4.4 The successful bidder/buyer shall pay all costs of sale (“closing costs”), except for preparation of the deed, the cost of an owner’s policy of title insurance, and one-half of any escrow fee. Buyer’s expenses shall include tax statements or certificates; one-half of any escrow fees charged by Escrow Agent; any survey of the property; all loan origination, discount, by-down and commitment fees (loan fees); loan application fees, credit reports, preparation of loan documents; interest on the note from the date of disbursement to one month prior to date of first monthly payment; recording fees, copies of easements and restrictions; mortgage title policy with endorsements required by lender; loan related inspection fees, costs to obtain, deliver, and record all documents; expenses and attorney’s fees except for preparation of the deed.
Reservation of rights
5.1 Seller reserves the right to accept or reject any or all bids as provided by the Texas local government code.
Please direct any questions regarding this bid or bid documents or requests to view the property to Richard Zachary, Cypress Springs Special Utility District, P. O. Box 592, Mt. Vernon, Texas 75457, telephone 903588-2081.
(Cypress Springs SUD real sale 3-2tc)