Notice of Sealed Bid for Sale of Real Property

NOTICE OF SEALED BID FOR SALE OF REAL PROPERTY

First State Bank Southwest is accepting sealed bids for the purchase of real property (the “Property”) located at 501 1st Street, Rushmore, Minnesota 56168, legally described as:

Lots 15, 16 and 17, Block 6, City of Rushmore, Nobles County, Minnesota, except for the west 88 feet thereof.

The heated shop building is 30 X 60 and 18 X 30, (2,340 sq ft).

The sale of real property along with buildings situated on said property shall be awarded, at the discretion of First State Bank Southwest, to the bidder submitting a bid in accordance with the terms outlined below:

1. All bids must be received by 5:00 p.m. on April 20, 2012 at 1433 Oxford Street, P.O. Box 725, Worthington, Minnesota 56187. All bids must be signed by the bidder or an authorized representative and include 20% of the bid amount. All bids shall be in a sealed envelope and plainly marked “SEALED BID TO PURCHASE REAL PROPERTY.”

First State Bank Southwest, in its discretion, may contact selected bidders for the purpose of soliciting a second bid.

It is the intention of First State Bank Southwest to sell the property, based on the best value bid that is submitted. First State Bank Southwest reserves the right to reject any bid for any reason, including but not limited to the bid amount not being representative of the fair market value of the property. Provisions of the sale shall include:

1. For the purchase of the real property in “as is” condition;

2. The conveyance of the property by Warranty Deed;

3. For the Buyer to pay all fees, commissions and costs associated with closing the sale of the property;

4. For closing to be held 30 days from the date of the bid’s acceptance by First State Bank.

Bidders may contact First State Bank Southwest at (507) 376-9747 for clarifications, questions, and to view the property.

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