Legal Advertisements

INVITATION FOR PUBLIC AUCTION BY SEALED BIDS
LEASE OF OIL AND GAS RESOURCES BENEATH THE SURFACE OF TRACT A: Tax Map and Parcel: 09-01-111 and TRACT B: Tax Map and Parcel: 9-1-116, SITUATE IN WEST UNION CORPORATION DISTRICT, DODDRIDGE COUNTY, WEST VIRGINIA.
Sealed Bid Auction for the lease of certain oil and gas interests described herein.
Sealed Bid opening will occur publicly at the date, time and place as follows:
Bids must be received in the Doddridge County Board Central Office no later than 1:00 PM on August 4, 2022.
Bid opening begins promptly at 2:00 PM on August 4, 2022. Acceptance of the successful bid will be announced by The Board of Education of Doddridge County at a subsequent meeting of the board of education not to be later than forty-five (45) days after the bid opening.
Physical Location and mailing address for Sealed Bids:
The Board of Education of Doddridge County
268 Bulldog Drive
West Union, WV 26456
Attn: Superintendent Adam Cheeseman
This Invitation for Sealed Bids is subject to, and all bids submitted must be in compliance with, the terms in this invitation to bid.
General Information:
The Board of Education of Doddridge County in its endeavors of managing its real estate resources has decided to lease, by competitive bidding process, the oil and gas resources for development and production beneath the surface of a portion of a 3.354365 gross acres tract of oil and gas situate on the waters of Middle Island Creek in District of West Union Corporation, County of Doddridge, State of West Virginia.
Terms: “As-is/Where-is”. The Board of Education of Doddridge County seeks to obtain fair market value for the property and reserves the right to reject any and all bids.
The Offering:
This invitation to bid is to lease the following oil and gas resources partially located beneath the surface real estate identified for tax purposes as tracts or parcel numbers TRACT A: Tax Map and Parcel: 09-01-111 and TRACT B: Tax Map and Parcel: 9-1-116, SITUATE WEST UNION CORPORATION DISTRICT, DODDRIDGE COUNTY, WEST VIRGINIA. Notwithstanding said tax map designation, this lease shall be effective as to the tract actually owned by Lessor whether or not the tax map designation correctly identifies the location of the tract. Being also the same tract described in Deed dated August, 8, 1949 and Deed dated April, 5, 1956 recorded in the Office of the Clerk of the County Commission in and for Doddridge County, State of West Virginia, filed as Deed Book 113, Page 498 and filed as Deed Book 129, page 276 respectively. It being the purpose and intent of Lessor to lease all strips or parcels of land now owned by Lessor, or hereafter acquired,, which adjoin the lands above described, and all interests in the land above described now owned or hereafter acquired by Lessor.
GENERAL TERMS OF SALE
TERMS – “INVITATION FOR SEALED BIDS.”
The term “Invitation for Sealed Bids” as used herein refers to this Invitation for Sealed Bids; the general terms of sale set forth herein; Bid Information Sheet, Instructions to Bidders and Bid Form and Quotation Sheet all as may be modified and supplemented by any addenda that may be issued prior to the time fixed in the Invitation for Sealed Bids for the opening of bids.
DESCRIPTIONS IN INVITATION FOR SEALED BIDS.
The description of the property set forth in this Invitation for Sealed Bids and any other Information provided herein with respect to said property are based on information available to the Superintendent of Doddridge County Schools and are believed to be correct, but any error or omission, including but not limited to the omission of any information available to the Board of Education having custody over the property and/or any other state agency, shall not constitute grounds or reason for nonperformance.
INSPECTION
Bidders are invited, urged, and cautioned to inspect the property to be leased prior to submitting a bid. The failure of any bidder to inspect, or to be fully informed as to the condition of all or any portion of the property offered, will not constitute grounds for any claim or demand for adjustment or withdrawal of a bid after the bid opening or auction.
CONDITION OF PROPERTY.
The property is offered for lease and will be leased “As Is” and “Where Is” without representation, warranty, or guaranty as to quantity, quality, title, character, condition, size, or kind, or that the same is in condition or fit to be used for the purpose for which intended, or for any purpose, and no claim for any allowance or deduction upon such grounds will be considered after the bid opening or conclusion of an auction.
MINIMUM LEASE BID: Fifteen Thousand Dollars ($15,000.00) up-front cash bonus per acre leased and a One-Fifth (20%) royalty to the Board of Education. Purported lease acreage is as follows: 3.354365 gross acres.
TERMS OF LEASE: The final lease agreement and addendum between the highest responsible bidder and the Board of Education must comply with the form lease agreement on file and the Exhibit A and Exhibit B attached thereto at the central office of the Board of Education located at 268 Bulldog Drive, West Union, West Virginia, 26456. This form lease agreement restricts the kinds of activities that may be conducted on the leased land by the lessee. Interested bidders should review this form lease agreement carefully before deciding whether to bid at the lease auction.
BID AWARD TIME FRAME
The Board of Education of Doddridge County will notify the successful bidder of their bid acceptance no later than forty-five (45) days from the bid closing date.
POSSESSION.
The successful bidder agrees to assume possession of the oil and gas lease as of the date of the executed lease.
REVOCATION OF BID AND DEFAULT.
In the event of revocation of a bid after the opening of bids or conducting of an auction but prior to acceptance, or in the event of revocation of a bid after notice of acceptance, or in the event of failure by the successful bidder to consummate the transaction, the offer may be forfeited at the option of The Board of Education of Doddridge County, in which event the bidder shall be relieved from further liability, or without forfeiting the said payments, the Board of Education of Doddridge County may avail itself of any legal or equitable rights which it may have under the bid.
THE BOARD OF EDUCATION OF DODDRIDGE COUNTY LIABILITY
If a bid is accepted by The Board of Education of Doddridge County and:
(1) The Board of Education of Doddridge County fails for any reason to perform its obligations as set forth herein; or
(2) A closing does not occur although the successful bidder is ready, willing, and able to close, The Board of Education of Doddridge County shall promptly refund to the successful bidder all amounts of money paid without interest whereupon The Board of Education of Doddridge County shall have no further liability to the successful bidder. Further, The Board of Education of Doddridge County may rescind its approval at any time subsequent to acceptance and approval and prior to leasing, if it is reasonably determined by The Board of Education of Doddridge County that such action is justified in the light of the circumstances then prevailing. Any rescission, pursuant to this paragraph will be without liability on the part of The Board of Education of Doddridge County other than to return any monies, if any, without interest.
TITLE EVIDENCE.
Any title evidence desired by the successful bidder will be procured by the successful bidder at the sole cost and expense of the successful bidder. The Board of Education of Doddridge County will, however, cooperate with the successful bidder or his authorized agent in this connection, and will permit examination and inspection of such deeds, or other documents relating to the title of the premises and property involved, as it may have available. It is understood that The Board of Education of Doddridge County will not be obligated to pay for any expense incurred in connection with title matters or survey of the property.
TITLE.
If a bid for the lease of the property is accepted, the Lessor’s interest will be leased without warranty. The Board of Education of Doddridge County shall not warrant or defend that the relevant titles are free of defects or encumbrances. All leases are subject to all easements, conditions and restrictions of record in the land records of the County Clerk of Doddridge County. No surveys are made or have been made pursuant to the established property lines. No title searches have been performed. All bidders should have inspected the property prior to the lease auction and conducted their own title searches.
TENDER OF PAYMENT AND DELIVERY OF LEASE.
The Board of Education of Doddridge County shall set a closing date, said date to be not later than 15 calendar days after acceptance of the winning bid. Only cashier’s check, certified check, or money order will be accepted and must be payable to The Board of Education of Doddridge County for the lease bonus. Upon such tender being made by the successful bidder, the Lessor shall deliver to the successful bidder the fully executed lease instrument.
DOCUMENTARY STAMPS AND COST OF RECORDING.
The Lease instrument itself (no memorandum of lease) will be recorded in the office of the Clerk of the County Commission of Doddridge County. The successful bidder shall pay all taxes and fees imposed on this transaction and shall obtain at bidder’s own expense and affix to all instruments of conveyance and security documents such revenue and documentary stamps as may be required by state and local law. All instruments shall be placed on record in the manner prescribed by local recording statutes at the successful bidder’s expense.
CONTRACT.
The Invitation for Sealed Bids, Bid Information Sheet, Instructions to Bidders and Bid Form and Quotation Sheet when accepted by The Board of Education of Doddridge County, shall constitute an agreement for lease between the successful bidder and The Board of Education of Doddridge County. Such agreement shall constitute the whole contract to be succeeded only by the formal instruments of leasehold, unless modified in writing and signed by both parties. No oral statements or representations made by, or for, or on behalf of either party shall be a part of such contract. Nor shall the contract, or any interest therein, be transferred or assigned by the successful bidder prior to obtaining the leasehold estate, without consent of The Board of Education of Doddridge County, and any assignment transaction without such consent shall be void.