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6 <br /> c) The subject property shall be sold to the most responsive and <br /> responsible bidder(s) who is/are able to perform with the tender <br /> of U.S. funds at closing. Upon their request, the deposits of the <br /> second and third highest responsive responsible bidders may <br /> be held and their bids remain active through the time period <br /> allowed for the delivery of funds and the conveyance of <br /> property, and should the most responsive and responsible <br /> bidder not perform, the next most responsive and responsible <br /> bidder shall be given an addition days to deliver the full <br /> cash sales price; and <br /> d) The City Council reserves the right to reject any and all bids. It <br /> Also reserves the right to waive any informalities in connection <br /> with said bids; and <br /> e) The City Council directs staff to market the properties; and <br /> f) Prior to closing, purchase and sale agreements detailing the <br /> terms of sale shall be submitted to the City Council for approval; <br /> Section 3: At the direction of City Staff, the City Clerk will publish a notice of <br /> intention to sell the property with the appropriate terms, time and <br /> place of sale. <br /> Councilman Introducing Resolution <br /> PASSED AND APPROVED this day of , 2004 <br /> Council President <br /> 23 <br />