BOROUGH OF HO-HO-KUS LEGAL NOTICE   PUBLIC AUCTION OF MUNICIPALLY OWNED LAND NO LONGER NEEDED FOR PUBLIC USE   NOTICE IS HEREBY GIVEN, for the public sale or auction of municipally owned land in the Borough of Ho-Ho-Kus, NJ 07423, no longer needed for public use; pursuant to and as set forth by the Local Lands and Buildings Law (N.J.S.A. 40A:12-1 et. seq.) with regard to the following property: 188 East Franklin Turnpike, Block 1016, Lot 6 on the Tax Map of the Borough of HoHo-Kus.   WHEREAS, all bids for the aforesaid property shall be submitted at public auction commencing on Wednesday, August 5, 2026, at 1:00 PM EST at the Borough of Ho-Ho-Kus Municipal Building 333 Warren Avenue, Ho-Ho-Kus, New Jersey 07423   WHEREAS, the following are the terms and conditions of the sale:     (a) The property is sold "as is". No representations of any kind are made by the Borough as to the conditions of the property, and the descriptions of the property are intended as a general guide only and may not be accurate. The properties are being sold in the present "as is", "where is", with all faults.   (b) The sale shall be made after legal advertisement of this Ordinance to the highest bidder, which if sold to a contiguous property owner, such property shall merge with the property being sold, and become part of the contiguous property owned by the successful bidder.   (c) The Borough does not warrant or certify title to the property and in no event shall the Borough of Ho-Ho-Kus be liable for any damages to the purchasersuccessful bidder if title is found unmarketable for any reason and the purchasersuccessful bidder waives any and all right in damages or by way of liens against the Borough. The sole remedy being the right to receive a refund prior to closing of the deposit paid in the event title is found unmarketable. It shall be the obligation of the successful purchaser to examine title to said premises prior to the closing. In the event of closing and a later finding of defect of title, the Borough shall not be responsible for same, shall not be required to refund money or correct any defect in title or be held liable for damages of any kind.   (d) Acceptance of the highest bid shall constitute a binding agreement of sale and the purchaser shall be deemed to agree to comply with the terms and conditions of the sale herein contained.   (e) The highest bidder shall deposit with the Borough cash, check or money order in the amount of not less than 10% of the bid price at the time of sale. In the event the successful bidder fails to deposit 10% of the bid price at the time of the sale, the Borough of Ho-Ho-Kus will re-auction the property at the same public sale. If the successful bidder fails to pay the deposit, the bidder shall be responsible for any difference between their bid and the final sale bid in the event such bid is lower than the bid of the original bidder.   (f) The highest bidder must pay the balance of the purchase price, plus (1) the sum of $2,500.00 for the legal services incurred by the Borough; (2) the Borough of Ho-Ho-Kus’ advertising and the actual recording fees; (3) all costs and expenses for the sale; and (4) realty transfer fees, if any. The balance shall be paid by certified funds. Once the purchase price has been paid, a Quitclaim Deed without covenants will be prepared by the Borough Attorney and, after execution by the Borough Officials, shall be recorded with the Bergen County Clerk's Office by the Purchaser’s Attorney/Title Company or the Borough Attorney. Additional work performed by the Borough Attorney beyond the standard preparation of the sale resolutions, Deed and closing statement shall be billed at the rate charged by the Borough Attorney and shall be the responsibility of the purchaser, which fees must be paid prior to the Deed being recorded.   (g) The Deed will be subject to all matters of record, which may affect title herein, what an accurate survey may reveal, and the Ordinances of the Borough of HoHo-Kus.   (h) Subject to an existing tenancy, which lease expires on November 30, 2026.    (i) Potential Bidders are advised:     (1) To conduct all necessary title searches prior to the date of sale.   (2) No representations of any kind are made by the Borough of Ho-Ho-Kus as to the conditions of the Property, including habitability or usability; the Property is being sold in its present conditions "as is".  (3) The Property will be conveyed by a Quit Claim Deed and such conveyance shall be subject to all covenants, restrictions, reservations and easements established of record or by prescription and without representation as to character of title of the Property to be conveyed.   (4) The highest bidder for the Property shall have the right, at its sole cost and expense, to obtain a new survey of the Property. Provided such survey depicts the Property and is certified to be correct to the Borough of Ho-Ho-Kus, the Borough of Ho-Ho-Kus shall utilize the legal description drawn in accordance with such survey in the Deed of conveyance, provided the highest bidder provides such legal description and a copy of the certified survey to the Borough of Ho-Ho-Kus not less than one week prior to the date set for closing of title.   Additional Terms the Successful Bidder must comply with:     (1) To abide by appropriate zoning, subdivision, health and building regulations and codes and stipulate that this sale will not be used as grounds to support any variance from the regulations.   (2) That the failure to close title as agreed shall forfeit to the Borough of HoHo-Kus any and all money deposited with the Borough.   (3) That the bidder shall indemnify and hold harmless the Borough from any claim whatsoever arising from the Borough’s ownership interest, including but not limited to any environmental claim or cleanup cost on a form acceptable to the Borough.   (i) The property will be sold subject to the current year taxes, prorated from the date of sale.   G) The Borough of Ho-Ho-Kus reserves the right to withdraw this offer to sell, or upon completion of the bidding to accept or reject any or all bids for said properties or to waive any informality in relation thereto.   (k) All bidders currently owing property within the Borough must have their taxes, as well as all municipal utility charges, if applicable, paid to date in order to be a qualified bidder. In the event the bidder's taxes or municipal utility charges are delinquent, the bidder shall be deemed unqualified and such bid shall be rejected.     (I) This same is made subject to all applicable laws, statutes, regulations, resolutions and ordinances of the United States, State of New Jersey and Borough of Ho-Ho-Kus.   (m) No employee, agent or officer of the Borough of Ho-Ho-Kus has any authority to waive, modify or amend any of the conditions of sale.   (n) The purchaser must abide by appropriate zoning, subdivision, health and building regulations and code, and agrees that this sale will not be used as ground to support any variance from or realization of the regulations.   (o) The failure of the purchaser to close on title within sixty (60) days of the Borough’s award of the bid shall constitute a breach of this Ordinance, unless the Borough agrees in writing prior to that date to extend the time of the closing. Bidders are advised the Borough, in its sole discretion, may choose to elongate such timeframe for closing. In the event the purchaser fails to close within 60 days or such date as may be extended by the Borough, the deposit paid by the purchaser shall be retained by the Borough as liquidated damages. The municipality is entitled to retain the purchaser's deposit to the extent of any expenses and/or losses it incurs including but not limited to advertising costs, attorney's fees, lost tax revenues from the date of the required closing as well as additional cost of resale and the difference in the sales price, to the extent the property is sold for a lower price and any subsequent sale. The only exception to this section is in the event that the purchaser fails to close as a result of the title being unmarketable, in which case the Purchaser shall be entitled to a refund of their deposit.   (p) The purchase shall not be used for any County, Board of Taxation, Tax Court of New Jersey, or in any Courts of the State as grounds to support a challenge of the existing assessments with regard to other properties.   (q) The sale shall be subject to final approval by the Governing Body of the Borough of Ho-Ho-Kus.   (r) There is an existing tenancy which expires November 30, 2026. Bidders are advised this sale is subject to an existing tenancy, and the Borough shall not be responsible for removing any tenants before or after the closing.    By Order of the Mayor and City Council of the Borough of Ho-Ho-Kus Joan Herve, RMC/CMR Municipal Clerk/Registrar  Record/Herald  7/20, 7/27/2026 Fee $313.28    12483872