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EVERETT <br /> RESOLUTION NO. 3950 <br /> A RESOLUTION authorizing the sale of <br /> City Real Property generally located <br /> East and North of Mukilteo Blvd. abutting Ridgemont Drive <br /> WHEREAS, review of the property described in Exhibit "A" has been completed by <br /> all City Departments and Administration; and <br /> WHEREAS, the Everett City Council finds and determines that the real property <br /> described in Exhibit "A" is not and will not be needed for City purposes; and <br /> WHEREAS, the Everett City Council finds that the City has complied with the <br /> requirements of Section 15.8 of the City Charter and requirements of Resolution 1984, <br /> except as modified herein; <br /> NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br /> CITY OF EVERETT as follows: <br /> Section 1: <br /> The real property described in Exhibit "A" is not and will not be needed for City <br /> purposes and is, therefore, declared to be surplus property. <br /> Section 2: <br /> The real property described in Exhibit "A" shall be sold at a public sale by a <br /> competitive sealed bid process on the following conditions: <br /> a) The requirements of Resolution No. 1984 will be followed in the <br /> disposition of the real property described in Exhibit "A; and <br /> b) The real property described in Exhibit "A" shall be sold through a sealed <br /> bid auction process upon the terms of 10% nonrefundable bid deposit <br /> payment with the bid and the balance of owed funds to be paid to the <br /> City within 90 days of bid acceptance, or deposit an additional 20% of <br /> the purchase price in the process detailed in Resolution 1984; and <br /> c) The real property described in Exhibit "A" shall be sold to the highest <br /> responsive and responsible bidder, who is able to perform with the <br /> tender of U.S. funds at closing. Upon their request, the deposits of the <br /> second and third highest responsive and responsible bidders may be held <br /> and their bids remain active through the time period allowed for the <br /> delivery of funds and conveyance of property, and should the highest <br /> bidder not perform, the next highest active bid shall become the highest <br /> bid and shall be given an additional fifteen (15) days to deliver the full <br /> cash sales price. The deposits of all other bidders will be returned to the <br /> person or mailed to the address stipulated in the bid within seven days of <br /> bid acceptance: and <br />