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Each upset bid received must raise the advertised bid ten percent (10%) of the first One Thousand dollars and five percent (5%) of the remainder 9Re:NCGS 160A-269)

An example of this calculation follows:

I.                    Advertised Bid = $100,000

II.                  To Calculate Increase

a.      10% of $1,000 = $100

b.      5% of $99,000 = $4,950

c.       Increase = $5,050

III.                Add Increase to Advertised Bid

a.      $100,000 + $5,050 = $105,050

Upset bidder must bid a minimum of $105,050 or higher