4. Negotiate, draft, execute and deliver any easements or other rights that, in the president's discretion, may contribute to the value of the proposed sale; and

5. Release any interests in the property that, in the president's discretion, do not contribute to the value of the remaining property; and be it further

Sec. 3. Property interests authorized to be conveyed. Resolved: That the property authorized to be sold or leased is the following:

An unimproved parcel of land consisting of 1.37 acres, more or less, near, but not adjacent to, remaining property of Southern Maine Community College, in South Portland, Maine. Title to said parcel, designated Lots 124 and 125 on the City of South Portland Assessor's Map 005, was formerly held by the State of Maine but was transferred to the Maine Community College System in 2002; and be it further

Sec. 4. Property to be sold as is. Resolved: That the property must be sold "as is," with no representations or warranties.

Title must be transferred by quitclaim deed without covenant and executed by the president; and be it further

Sec. 5. Exemptions. Resolved: That a conveyance pursuant to this resolve is exempt from any statutory or regulatory requirement that the property first be offered to the Maine State Housing Authority or another state or local agency; and be it further

Sec. 6. Appraisal. Resolved: That the president shall have the current market value of the property determined by an independent appraiser. The property may be listed for sale with a private real estate broker at its appraised value or auctioned or sold directly to a purchaser. The president may negotiate the terms of sale including the purchase price. The president may reject any offers.

If the president elects to solicit bids, notices of sale must be advertised; and be it further

Sec. 7. Proceeds. Resolved: That any proceeds from sales pursuant to this resolve must be deposited in an account to be designated by the president and used to purchase all or a portion