FOR SALE THE FARLOW HOUSE IS BEING OFFERED "FOR SALE" BY

THE

STATE OF NORTH CAROLINA 412 N. Wilmington Street, Raleigh

The Farlow House will need to be relocated to a ± .34-acre vacant lot directly behind the house located at 425 N. Blount Street. The State will sell the house and lot as a package deal. Buyer will be responsible for all expenses related to relocation of the house. Please see Sale Procedure and Bid Form below.

For more information contact: Mike Moser, State Property Office at 919-807-4650 or visit our website at https://ncadmin.nc.gov/about-doa/divisions/state-property-office

SALE PROCEDURE

Bid Procedure

(1) The property will be advertised for sale and bids shall be received beginning immediately and continue until 5 o’clock PM on February 25 , 2020 . All bids must be delivered to and received by the State Property Office, Room 4055, Administration Building, 116 West Jones Street, Raleigh, North Carolina, 27603-8003 on or before February 10, 2020 at 5 o’clock PM, eastern standard time. Bids may be mailed to Director, State Property Office, Administration Building, 1321 Mail Service Center, Raleigh, NC 27699-1321. All bids must be received within the prescribed time and posting in the U.S. Mail shall not be considered as meeting this requirement. A certified or cashier’s check for no less than 1% of the bid shall accompany all bids. Unless the bid is accompanied by a certified or cashier’s check, it shall not be considered. The checks should be made payable to the “State of North Carolina”.

(2) After initial bids have been received, and the high bid has been determined by

the State Property Office, interested parties will be notified of the high bid in order that they may have an opportunity to raise that bid. The bid must be raised by a minimum of 5% of the high bid. Any upset bid must be accompanied by a certified or cashier’s check in the amount of 5% of that bid and must be in the State Property Office by the prescribed time. The upset bid period will be ten days. At the end of the upset period, the State Property Office will determine the bid and once again all bidders will be notified of the high bid so that they may have an opportunity to raise the bid. This procedure will continue until there are no further raises.

(3) The Department of Administration reserves the right to reject any and all bids. In the case of identical bids, the Department of Administration, in its sole discretion, will determine which bid shall be recommended for acceptance as the high bid.

(4) All sales of State lands are subject to the approval by the Council of State. The Council of State, at its sole discretion, may reject or accept any bids or offers made for the sale of State lands.

(5) The State of North Carolina conveys land by deed without warranty. A description of property offered for sale is available at the State Property Office so that a prospective purchaser may make such examination of the title as he desires. All deeds, after approval by the Council of State, will be executed in the manner prescribed by Chapter 146 in the General Statutes of North Carolina.

(6) The State of North Carolina makes no representations or warranties concerning the property, title of the property, the boundaries of the property, the uses to which the property may be put, or any physical, environmental, health or safety conditions relating to the property. Any prospective buyer is advised to make his own independent investigations of these matters, and any responsibilities or liabilities arising out of or relating to such matters expressly are disclaimed by the State of North Carolina. The State of North Carolina is not responsible for any cost incurred by prospective purchasers. The property shall be sold “as is, where is”.

(7) The property shall be sold for cash upon delivery of the deed. Once a high bid has been determined and accepted, the 5% deposit will be held as an earnest money deposit. If the high bidder subsequently fails, refuses or is unable to close the transaction at time of delivery of the deed, the State may retain the earnest money deposit as liquidated damages.

(8) The property shall be subject to Preservation or conservation agreements required on all sales as defined in Session Law 2003-404

(9) All bids must be submitted on the attached “Bid Form”.

BID FORM REAL PROPERTY

Farlow House at 412 N. Wilmington Street & ± .34- acre Vacant Lot at 425 N. Blount Street

I, , hereby submit a bid to offer to purchase in the

amount of $ (U.S. Dollars) on the real property located in Raleigh, Wake County,

North Carolina and further identified as: Farlow House- 412 N. Wilmington Street and Vacant Lot at 425 N. Blount Street, Raleigh, Wake County, North Carolina.

I fully understand in the making of this offer to purchase, that in order to be considered, offer

shall be received in the State Property Office.

Hand Delivery Address: State Property Office, Room 4055, Administration Building

116 West Jones Street, Raleigh, North Carolina 27603

U.S. Mail Address: State Property Office, Administration Building

1321 Mail Service Center, Raleigh, North Carolina 27699-1321

Attached are my Certified Funds in the amount of $ ,made payable to the State of North Carolina, which represents a deposit of not less than one percent (1%) of

this offer.

If my offer is accepted and I fail, refuse, or are unable to close the transaction at the time of delivery of the deed, my deposit will be retained. It is further understood that the balance of the

amount offered will be due upon delivery of the duly executed deed. All offers are subject to acceptance or rejection for any reason at the discretion of the Director, State Property Office.

Title to the real property will be conveyed by non-warranty deed. The property will be conveyed "as is, where is, with all faults" subject to preservation/conservation agreements as

required by G.S. 2003-404 and easements & rights of way of record.

Signature: (SEAL) Printed Name: Title Address:

Phone Number: