10. (1) A board shall not accept any offer to purchase, lease or otherwise acquire property in respect of which a proposal must be issued under section 3 or 4 before the expiration of 90 days after the day on which the board issued the proposal. O. Reg. 115/16, s. 5. (2) After the expiration of the 90-day period referred to in subsection (1), the only offer that the board may accept, subject to subsections (3) to (8) is an offer that, (a) complies with section 7 or 8, as the case may be; and (b) is made by a body that, (i) submitted an expression of interest in response to the proposal within the 90-day period referred to in subsection (1), (ii) submitted its offer before the expiration of 180 days after the day on which the board issued the proposal, and (iii) has, in accordance with subsection (9), the highest priority among the bodies that made expressions of interest in the 90-day period referred to in subsection (1). O. Reg. 115/16, s. 5. (3) If the body that has the highest priority among the bodies that made expressions of interest withdraws its expression of interest, the board shall, (a) consider or wait for an offer from the body with the next highest priority among the bodies that made expressions of interest if the 180-day period referred to in subclause (2) (b) (ii) has not expired; or (b) consider an offer made by the body that has the next highest priority among the bodies that made offers if the 180-day period referred to in subclause (2) (b) (ii) has expired. O. Reg. 115/16, s. 5. (4) If the body that has the highest priority among the bodies that made expressions of interest fails to submit an offer in the 180-day period referred to in subclause (2) (b) (ii), the board shall consider an offer made by the body that has the next highest priority among the bodies that made offers. O. Reg. 115/16, s. 5. (5) If the body with the highest priority or, if applicable, the highest remaining priority and the board disagree on the fair market value of the property, they shall attempt, within 30 days of the beginning of negotiations, to negotiate the fair market value and the body shall amend its offer to reflect the agreed value. O. Reg. 115/16, s. 5. (6) If the board and the body cannot agree under subsection (5) on the fair market value of the property, the body making the offer may, at or before the termination of the 30-day period referred to in subsection (5), (a) withdraw its offer; or (b) elect to have the fair market value determined through binding arbitration and amend its offer according to the fair market value determined by the arbitrator. O. Reg. 115/16, s. 5. (7) If no price is agreed to at the termination of the 30-day period referred to in subsection (5) or if the body withdraws its offer or does not elect binding arbitration under subsection (6), the board shall, (a) consider or wait for an offer from the body with the next highest priority among the bodies that made expressions of interest if the 180-day period referred to in subclause (2) (b) (ii) has not expired; or (b) consider an offer made by the body that has the next highest priority among the bodies that made offers if the 180-day period referred to in subclause (2) (b) (ii) has expired. O. Reg. 115/16, s. 5. (8) Subsections (2) to (7) apply to each subsequent offer that the board considers. O. Reg. 115/16, s. 5. (9) For the purposes of this section, priorities shall be determined in accordance with the following rules: 1. A body mentioned in a paragraph of subsection 3 (1), (2), (3) or (4) or 4 (1), (2), (3) or (4) has a higher priority than a body mentioned in a subsequent paragraph. 2. If a body is mentioned in more than one paragraph in a subsection listed in paragraph 1, it shall have no priority other than its highest priority as determined under that paragraph. 3. A body that receives a referral from a body under subsection 3 (5), (5.1), (6), (7), (7.1) or (8) or 4 (5), (5.1), (6), (7), (7.1) or (8) shall be deemed to have the same priority as the body that made the referral. 4. If offers are made by two or more bodies that, under paragraph 3, have the same priority because they received a referral from the same body, priorities among those bodies may be determined by the body that made the referral or, if the body does not wish to determine priority, then the body that offers the highest price has priority over the others. 5. Despite paragraph 4, if offers are made by two or more bodies whose highest priority comes from being an indigenous organization listed in subsection 2.1 (2), or from receiving a referral from such an organization, the body that offers the highest price has priority over the others. 6. If offers are made by two or more bodies whose highest priority comes from being a facility, the facility that offers the highest price has priority over the others. O. Reg. 115/16, s. 5.