[Code of Federal Regulations]
[Title 36, Volume 1]
[Revised as of July 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 36CFR17.6]

[Page 253-254]
 
              TITLE 36--PARKS, FORESTS, AND PUBLIC PROPERTY
 
      CHAPTER I--NATIONAL PARK SERVICE, DEPARTMENT OF THE INTERIOR
 
PART 17_CONVEYANCE OF FREEHOLD AND LEASEHOLD INTERESTS ON LANDS OF THE 
NATIONAL PARK SYSTEM--Table of Contents
 
Sec.  17.6  Action at close of bidding.

    The person who is declared by the authorized officer to be the high 
bidder shall be bound by his bid and the regulations in this part to 
complete the purchase in accordance therewith unless his bid is rejected 
or he is released therefrom by the authorized officer. The declared high 
bid on property for which a preference right exists will be 
conditionally accepted subject to the

[[Page 254]]

exercise of the preference as described below. In the case of a freehold 
interest, the high bidder must submit the balance of the bid within 45 
days of the bid award in the form of a certified check, post office 
money order, bank draft, or cashier's check, made payable to the United 
States of America. Failure to submit the full balance within 45 days 
will result in the forfeiture of $1,000 of bid deposit, unless the 
bidder has been released from the bid or an extension has been granted 
by the authorized officer, and the property will be awarded to the next 
highest bidder upon fulfillment of the requirements of this section.

[42 FR 46302, Sept. 15, 1977, as amended at 61 FR 28508, June 5, 1996]