CITY OF NEW BRUNSWICK   R-042657 AUCTION OF CITY OF NEW BRUNSWICK REAL PROPERTY 15 CLASS PLACE BLOCK 550, LOT 24.01 BY THE MUNICIPAL COUNCIL:   WHEREAS, the City of New Brunswick, Middlesex County, New Jersey is the owner of certain property described on the attached Schedule A; and   WHEREAS, the City of New Brunswick desires to offer said property for public sale at auction pursuant to N.J.S.A. 40A:12-13(a) with respect to the property listed on Schedule A.   NOW, THEREFORE, BE IT RESOLVED, by the Municipal Council of the City of New Brunswick that the Clerk of the City of New Brunswick is hereby authorized and directed to advertise by two insertions at least once a week during two consecutive weeks, the last publication to be not more than seven (7) days prior to sale, as provided by law, an offer to sell at a time so designated, and to receive bids for the sale of the described lands, and subject to the following reservations, terms, restrictions and conditions:   1. The City reserves the right, upon completion of said public sale, to accept or reject the highest bid made thereof.   2. The parcels will be offered for sale and conveyed as an individual parcels.   3. The City will retain easements for right of access and entry to the property to be sold for the purpose of inspecting, repair or replacing existing water lines and/or storm or sanitary sewer lines.   4. All bids will be received at City Hall, Council Chambers, 78 Bayard Street, New Brunswick, New Jersey at 10:00 a.m. on May 14, 2026.   5. Every bid to purchase shall be submitted orally by the intended purchaser in person or by his or her agent or representative provided, however that before a bid is submitted, the bidder shall disclose the full name and present residence or address of the intended purchaser on whose behalf the bid or bids are submitted.   6. Upon the closing of bidding the highest bidder shall deposit with the City Treasurer of the City of New Brunswick, cash or certified check equivalent to ten (10%) percent of the bid price. The balance of the purchase price shall be paid in cash or certified check upon the delivery of a deed as provided herein. If the highest bidder is a corporation or partnership, it shall be submitted with the required deposit, the information specified in N.J.S.A. 40:55D-48.2.   7. A Resolution accepting or rejecting bids may be adopted at the first regular meeting of the City Council following the closing of bidding and will be adopted no later than the second regular meeting following the closing of bidding.   8. The City reserves the right to reject any and all bids and to adjourn the sale, as to any parcel, as permitted by law.   9. Except as specifically provided herein, each parcel is sold subject to all easements of record, ordinances and regulations governing the said land, inclusive of Zoning Regulations, the sale and use thereof and such state of fact as an accurate survey may disclose. The property is sold "AS IS". The City assumes no responsibility for streets, for furnishing utilities, repairs and/or corrections to the subject property as may be required for issuance of a Certificate of Occupancy or to render compliance under Local, State and/or Federal Ordinances, Laws and Codes.   10. The successful bidder shall develop the property consistent with the allowable uses for the City of New Brunswick Zone R-5A designation regardless of any future amendments to the zoning of the subject property.   11. If the City's title to the lands and premises shall prove to be unmarketable, the City's liability shall be limited solely to the return to the successful bidder of the amount of deposit without interest.   12. The parcel is sold subject to existing tenancies, if any.   13. The lands and premises shall be conveyed to the purchaser by quit claim with deed subject to the provisions, terms and conditions of this Resolution.   14. Real estate taxes shall be assessed and payable by the purchaser as of the date of deed to the purchaser.   15. No real estate commission shall be paid by the City of New Brunswick.   16. At closing, the purchaser shall pay the balance of the purchase price by cash or certified check at which time a deed, executed by the Mayor and attested by the City Clerk, will be delivered. Closing will be made at the Office of T.K. Shamy, Esq., City Attorney, 78 Bayard Street, New Brunswick, New Jersey 08901 between the hours of 10:00 a.m. and 4:00 p.m. or at such other time and place as may be mutually agreed upon.   17. In the event the City is unable to convey to the successful bidder marketable title to the land and premises, the purchaser shall, unless such provision is waived without reduction of the purchase price, be entitled to the return of the deposit made.   18. All deposits made by the successful bidder or bidders will be retained by the City of New Brunswick as liquidated damages in the event the bidder fails to complete the purchase in accordance with the terms of sale.   19. This Resolution shall be published in The Home News Tribune in accordance with the provisions of N.J.S.A. 40A:12-13(a).   ADOPTED: April 15, 2026   COUNCIL PRESIDENT MANUEL CASTAÑEDA   SCHEDULE A   PARCEL    BLOCK     LOT        LOCATION      DESCRIPTION      MINIMUM BID       1              550      24.01    15 Class Place           R-5A                  $50,000.00 4/30/2026, 5/7/2026 ($233.92)