PUBLIC NOTICESALE OF TOWN PROPERTY Negotiated Offer and Upset Bid (G.S. 160A-269) - Notice of Sale by Upset Bid

PUBLIC NOTICESALE OF TOWN PROPERTY Negotiated Offer and Upset Bid (G.S. 160A-269) - Notice of Sale by Upset Bid An offer of $2,350,000 has been submitted for the purchase of certain property owned by the Town of Topsail Beach, more particularly described as follows: Perpetual telecommunications easement, located at 820 S. Anderson Blvd, Topsail Beach NC, 28445, consisting of approximately 7,000 square feet (TBC), including the tower site and all associated easements for ingress, egress, and utilities. The conveyance includes the telecommunications tower and all related improvements, fixtures, equipment, permits, licenses, easements, leases, subleases, collocation agreements, and other rights, interests, and assets associated with the tower and site. Persons wishing to upset the offer that has been received shall submit a sealed bid with their offer to the office of the town clerk, Topsail Beach Town Hall, 820 S Anderson Blvd, Topsail Beach, NC 28445 by 4:00 p.m., June 26, 2026. At that time the town clerk shall open the bids, if any, and the highest qualifying bid will become the new offer. If there is more than one bid in the highest amount, the first such bid received will become the new offer. If a qualifying higher bid is received, the town clerk shall cause a new notice of upset bid to be published and shall continue to do so until a 10-day period passes without receipt of a qualifying upset bid. A qualifying higher bid is one that raises the existing offer by not less than ten percent (10%) of the first $1,000.00 and five percent (5%) of the remainder of the offer. The minimum qualifying upset bid at this time is $2,467,550. A qualifying higher bid must be accompanied by a deposit in the amount of ten percent (5%) of the bid; the deposit may be made in cash, cashier's check, or official bank check drawn on or issued by a financial institution insured by the Federal Deposit Insurance Corporation, or certified check. Deposits for unsuccessful bids shall be returned. Deposits for bids subject to upset shall be returned if a higher qualifying bid is received. The deposit of the final high bidder shall be returned at closing. The purchaser shall at closing pay the full purchase price by either cash, cashier's check or official bank check drawn on or issued by a financial institution insured by the Federal Deposit Insurance Corporation. The final high offer is subject to approval by the Board of Commissioners, which shall occur within 30 days after the final upset bid period has concluded. The Town reserves the right to withdraw the property from sale at any time prior to acceptance of the final high bid and to reject any and all bids. Further information may be obtained at the office of town clerk, Topsail Beach Town Hall, 820 S Anderson Blvd, Topsail Beach, NC 28445 or at telephone 910-328-5841 during normal business hours. June 16 2026 LWLM0538125