Notice is hereby given at the following time and date: August 22, 2023 at 11:59 EDT
The State Forester, acting for the Indiana Department of Natural Resources and the Director of Public Works and Supply, will offer for sale the following described property. 101 logs containing 20,400 board feet Doyle Tree Scale. This is Indiana State Forest Timber Sale Number 7432401.
The public sale is to be held online through Indiana Forestry Exchange website at https://timbersalebidding.dnr.in.gov/. Bids will be accepted online at this site from licensed buyers and agents. Bidding is only allowed online. No in person bidding or mail bids accepted. Bids for such property will be received at the above website until the time and date above set at which time and place all acceptable bids will be opened, and any bids sent after the designated time will be rejected. Bidders in good standing are required to submit a surety bond or irrevocable line of credit (ILOC) to the Division of Forestry to cover their 5% performance deposit (5% of the submitted bid). This bond or ILOC must be on record with the Division of Forestry before any bid can be accepted. Bidders not in good standing are required to submit a bond to cover a performance deposit for an amount equal to or larger than 10% or 20% of their bid, depending on the level of their standing as provided to them by the Indiana Department of Natural Resources. The performance deposit amount is not part of the total sale (bid) payment but is a separate payment. Failure to comply with conditions and requirements of the executed contract may result in a forfeiture of a portion or all of this performance deposit. Bids may be revised before the bid time as long as there is sufficient bond to cover the performance deposit.
The property will be sold under written contract to the responsible bidder making the highest sealed bid, provided the bid is acceptable to the state. The winning bidder must make a payment equal to or larger than ten percent (10%) of the bid amount within fourteen calendar days of the bid opening. The winning bidder must return the executed timber sale agreements to the Indiana Department of Natural Resources within one month of the bid opening date. The remaining bid amount balance, if any, shall be paid prior to the start of harvest operations. The bidder may pay the entire bid amount within fourteen calendar days of the bid opening. Failure to pay at least a ten percent (10%) down payment or the full bid amount within fourteen calendar days from the date of bid opening will result in a forfeiture of all of the performance deposit. Failure to pay the total bid amount within the prescribed time will result in a forfeiture of all of the performance deposit and any down payment. The terms of the sale will be cash, the buyer to accept delivery of the property and to remove the property therefrom by December 30, 2023, or 7 days prior to the expiration of the bond covering the performance deposit for the sale, whichever is sooner, and which will be the expiration date of said contract. The Department reserves the right to accept and/or reject any and/or all bids. The Department (at its discretion) reserves the right to rebid the sale. Only current licensed buyers or their registered agents may submit bids. Buyers should satisfy themselves as to volume in the sale.