When the state owns fee simple title to right of way that is going to be sold, the statute requires that it must first be offered to a GE, subject only to the advance acquisition and repurchase rights described in Section 3 above. TxDOT sends notice to a GE that the GE has a priority right to purchase the right of way. TxDOT may provide a time frame by which the GE must exercise its priority right or consider it waived. TxDOT may impose a deadline for the GE to close a purchase after receiving notification that TxDOT is ready to close. If two or more GEs exercise their priority, a sealed bid

or cry-out auction

between the exercising GEs will be conducted and the highest bid amount will determine the purchaser.