500 merchant property listing: THE TOWN OF GAYVILLE SOUTH DAKOTA ADVERTISEMENT FOR SEALED BIDS FOR SALE OF CERTAIN REAL PROPERTY TO BE OFFERED BY THE TOWN OF GAYVILLE NOTICE IS HEREBY GIVEN that the Town of Gayville, South Dakota shall sell by sealed bid certain real property (the “Property”) owned by the Town of Gayville. At its meeting on April 15, 2025, the Board of Trustees of the Town of Gayville declared the Property surplus and determined the value of the property to be $20,000.00. Sealed bids for the Property must be received by the Financer Officer by mail to PO Box 162, Gayville, SD 57031, no later than May 16, 2025. Bids not received on or before May 16, 2025 regardless of postmarked date shall be disqualified and will not be considered. The sealed bids timely received shall be opened publicly and read aloud by the Town Board of Trustees at its meeting scheduled on May 20, 2025 at 6:00 p.m. at the Gayville Community Center, 404 Washington St., Gayville, SD 57031. The Board of Trustees may award a contract for the sale of the Property at its above-referenced meeting on May 20, 2025, or any subsequent regular or special meeting of the Board of Supervisors. The Property consists, generally, of undeveloped land located at 500 Merchant St., Gayville, SD 57031 and legally described as follows: Lot Fourteen (14), Block Two (2), Original Town of Gayville, Yankton County, South Dakota. A copy of the deed conveying the Real Property to the Town is and available for examination by contacting the Finance Officer. The Property is located in the single-family residential zoning district. The Property is being sold for a lump sum amount, as-is. The Property is being sold pursuant to the following Terms and Conditions of Sale: 1. A building permit for the construction of a single-family residence must be obtained by the buyer within one year closing of the sale; and 2. Construction must be commenced within two years of the closing of the sale and must otherwise comply with all ordinances pertaining to zoning and building permits, and with all state and federal laws and regulations concerning construction of residences. The above Terms and Conditions of Sale shall be noted in the Deed conveying the property as restrictive covenants held against the Property. In the event construction is not commenced and completed in compliance with the above Terms and Conditions of Sale, the Property would revert to the Town of Gayville by operation of the default and failure of the restrictive covenants. Bidder may not alter or modify the Terms and Conditions of Sale  The minimum acceptable bid for the Property as determined by the Town Board of Trustees is $20,000.00, and any bid amount lower than the minimum bid amount shall be considered non-responsive and disqualified. All sealed bids must conform to the following requirements: 1. Sealed bids must be submitted in a sealed envelope; 2. Contain a heading indicating, “Bid for Purchase of the Town of Gayville Property – 500 Merchant St.”; 3. State the bid amount; 4. State the name of the bidder; and 5. Be signed by the bidder. The contract for sale will be awarded to the highest qualifying bidder on the following conditions: 1. Upon immediate tender of payment by the highest bidder to the Town of Gayville by Certified Check, or Cashier’s Check in the amount of the winning bid; or 2. Immediate tender of payment by cash, Certified Check, or Cashier’s Check in an amount equal to ten (10%) of the winning bid as security against the payment of the balance of the bid and must be accompanied by a certification of Proof of Funds from a reputable financial institution for the balance of the bid amount; and 3. That payment of the purchase price in full shall be made within 60 days of the acceptance and award of the successful bid. Failure of the successful bidder to provide the full purchase price within such time frame shall result in the forfeiture of the bid security referenced herein. Town of Gayville expressly reserves the right to reject any and all nonresponsive bids, and bids which contain conditions or contingencies may be rejected. The Town of Gayville reserves the right to waive any defects or irregularities in the bids. Any bids that are under the established minimum bid amount shall be disqualified as non-responsive and invalid. Published: ___________________                              

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