Bid Documents.Lancaster Campus.pdf

INVITATION NO.: EKU ITB-452-2025 BIDDER NAME:_________________

FOR SALE

SURPLUS REAL PROPERTY OWNED BY

EASTERN KENTUCKY UNIVERSITY

Property located at 65 Public Square, Lancaster, Garrard County, Kentucky

In accordance with Kentucky laws applicable to the sale or disposition of real property, Eastern Kentucky University (the “University”) is soliciting bids for the sale of real property located 65 Public Square, Lancaster, Garrard County, Kentucky, 40444 (the “Property”). The University desires to sell the Property in its entirety.

The Property is a single story brick commercial building on a 0.16-acre lot, situated in Lancaster’s historic Public Square. The building has been used as the classroom/office building for the University and served as the site for Dual Credit and Adult Education programs offered by the University in Garrard County.

The Property underwent renovation in 2017, has no limited zoning restrictions, and is suitable for a number of uses.

The legal description of 65 Public Square, Lancaster, Garrard County, Kentucky may be found in the General Warranty Deed, located in the “Buyer’s Attachments” section of this solicitation.

TERMS AND CONDITIONS

1. Bid Submittal

Bids must be received by the Eastern Kentucky University Division of Purchases & Stores no later than July 24, 2025; 2:00 PM (ET).

All bids must be submitted electronically in JAGGAER, the University’s E-Procurement system.

If you require help with registration in JAGGAER please contact Micah Hunsucker, Director of Procurement at micah.hunsucker@eku.edu

2. Bid Form

a. All bids must be submitted on the Bid Proposal Form contained in this Invitation for Bid. The bid must include the signed Bid Proposal Form.

b. A single non-conditional lump sum bid must be submitted for the Property. No bid contingencies shall be permitted (e.g. financing, inspections). The terms of purchase are strictly cash only upon closing. Bidders must include an approval letter from a lending institution for the amount of their bid or a letter from the Bidder’s financial institution or the Bidder’s chief financial officer, as appropriate, verifying that the funds are available if a cash transaction is preferred.

3. Bid Deposit and Performance Guarantee

a. A certified check made payable to Eastern Kentucky University in the amount of $1,000.00 must accompany each bid as a good faith deposit. The successful bidder’s good faith deposit will be retained and applied toward the purchase price.

b. Checks from unsuccessful bidders will be returned the following business day after the bid opening. Checks may be picked up in the Office of the University Procurement Director, Room 1412 Commonwealth Building, between the hours of 8 a.m. and 5 p.m. Checks not picked up will be returned by mail. Proper identification must be made when picking up checks and a receipt must be signed. The successful bidder’s good faith deposit will be forfeited to the University should the successful bidder fail or refuse to consummate the purchase of the Property.

4. Requirements of the Sale

a. The property is offered for sale and will be sold “as is and where is” without representation, warranty, or guarantee or that the property is in condition or fit to be used for the purpose intended. Bidders are responsible to verify that any information contained in this Invitation for Bids is to be relied upon and essentially correct. Should the bidder or lending institution require an inspection of the property, this is the sole responsibility of the bidder.

b. By submitting a bid, the bidder represents and warrants the bidder is prepared to carry out the terms of the bid if accepted by the University, the bidder has made its own investigation of the mailto:micah.hunsucker@eku.edu

Property as to location, value, zoning and other conditions, and the bidder is making such bid based upon its own findings and not on any representations made by the University.

c. Payment of the balance of the purchase price must be in the form of a certified check, cashier’s check, or money order made payable to Eastern Kentucky University and is due at the time of delivery of the deed.

5. Withdrawal of Bid

Bids may be withdrawn prior to the date and time set for opening of the bids. Bid withdrawals must be in person only. Proper identification and authorization to withdraw the bid must be presented and accepted prior to the return of any bid.

6. Term of Acceptance

The successful bidder must not limit the time of acceptance of the bid to less than ninety (90) days. This Invitation for Bid, the successful bidders Bid Form, and the University’s written acceptance shall constitute the sale and purchase contract documents.

7. Acceptance of Bid

a. The University intends to accept the responsive and responsible bidder with the highest cash offer that is acceptable to the University and in line with the market value of the Property.

b. The University reserves the right to accept the next highest bid without further bidding procedures if the highest responsive and responsible bidder fails to close the transaction pursuant to the sales contract.

8. Rejection of Bids and Waiver of Informalities and Irregularities

The University reserves the right to accept or reject any and all bids. At its discretion, the University may waive any informality or irregularity and to accept any bid it deems to be in the University’s best interest. The University may request any bidder to supply additional information in order to determine the best bid.

9. Bid Opening

Bids will be opened publicly via teleconference on July 24, 2025 at 2:00 PM (ET).

Bids will be ‘publicly’ read aloud, and Bidders may access the bid opening through a conference call. To access the conference call please utilize the following information:

Meeting ID: 273 444 141 919 7

Passcode: gM72zU6U

Dial in my phone: 1 606-330-5215,,222916529#

Phone Conference ID: 222 916 529#

10. Required Submittals

The bidder must include the following information with the bid:

a. Names and addresses of the individual owners, partners or officers of the firm or corporation who will take title to the Property.

i. If the bid is on behalf of a governmental entity or corporation, provide proof of government or corporate approval for the purchase or provide a description of the process and timeline by which approval will be obtained.

b. A certified check for $1,000 made payable to Eastern Kentucky University

c. Signed Bid Proposal Form contained in this Invitation for Bid with a lump sum amount

11. Broker’s Commission

The University will allow the use of duly licensed real estate brokers in the purchase of this property. Payment of commissions or broker’s fees is the responsibility of the bidder.

12. Surveys

The tract may be surveyed at any time by prospective bidders at the bidder’s expense.

13. Taxes

The successful bidder shall be responsible for any taxes assessed following closing.

14. Possession of Land, Access for Planning

It is the intent of the University to give possession with the deed. A good marketable title to the property will be conveyed by deed containing covenant of special warranty.

In accepting a bid for sale of this property, the University pledges its willingness to work with the successful bidder and to provide reasonable access to the property to allow the bidder to evaluate suitability of utilities, to conduct site engineering studies, and to begin site development planning.

15. Final Closing

Final closing must be within thirty to forty-five (30 to 45) days from the date the bidder has been notified that all necessary approvals for acceptance of the bid have been obtained.

16. Conveyance of Land Title

At the time of closing and upon payment of the purchase price in full, the University will deliver a quitclaim deed unless the purchaser, at the purchaser’s expense, has a title examination and a survey prepared to determine an accurate legal description. If a survey is produced, the University will provide a general warranty deed. In addition, the property will be sold in its “as is” condition. The successful bidder or his/her successor in title will be responsible for the payment of all taxes falling due on the property after delivery of the deed, including the deed recording fees.

17. Title to Land

65 Public Square, Lancaster, Kentucky is owned in fee simple by the Commonwealth of Kentucky for the use and benefit of Eastern Kentucky University. If title insurance is deemed necessary, the purchaser shall be responsible for any costs involved.

18. Questions

All questions or other communication concerning this Invitation for Bids should be addressed to:

Micah Hunsucker Director of University Procurement Eastern Kentucky University Commonwealth Building Richmond, KY 40475 Telephone: (859) 622-4484 E-mail: micah.hunsucker@eku.edu

19. Interpretation of Invitation for Bids Document

Any person contemplating submitting a bid, pursuant to this Invitation For Bids, who is in doubt as to the true meaning of any part of the document may submit a written request for an interpretation thereof. Any interpretation or correction of the document will be made only by written addendum. The University will not be responsible for any other explanations or interpretation of the documents.

20. Site Visit

A site visit will be held at 65 Public Square, Lancaster, Kentucky on July 2, 2025 from 10:00 AM (ET) until 11:30 AM (ET) to allow prospective bidders an opportunity to see the property.

The following items should be noted in reference to the site visit:

• Attendance at the site visit is optional.

• This will be the only opportunity to see the property.

mailto:micah.hunsucker@eku.edu

BID PROPOSAL FORM

FOR THE SALE OF PROPERTY LOCATED AT 65 Public Square, Lancaster, Garrard County, KY owned by Eastern Kentucky University.

EASTERN KENTUCKY UNIVERSITY

INVITATION FOR BID NO. 452-2025

* This total must be the net amount payable to the University and shall EXCLUDE any and all commissions or fees which shall be paid by bidder.

SIGNATURE: _______________________________________________________

SIGNER’S NAME: ___________________________________________________

COMPANY: ______________________________________________________

DATE: __________________________________________________________