I figured out all of the problems. The complete code for resizing and saving is as follows:

'Check to make sure that the uploading file has a value
            If Not (CType(e.Item.FindControl("inpFileUp"), HtmlInputFile).PostedFile Is Nothing) Then
                'Try
                'Make sure path has trailing slash
                If Right(strSavePath, 1) <> "\" Then strSavePath = strSavePath & "\"
                'Save some information from the upload and set up paths
                Dim contentType As String = CType(e.Item.FindControl("inpFileUp"), HtmlInputFile).PostedFile.ContentType
                Dim contentLength As Integer = CType(e.Item.FindControl("inpFileUp"), HtmlInputFile).PostedFile.ContentLength
                Dim strUploadFileName As String = strImageLocation & strFileEnding
                Dim strThisFullFileName As String = strSavePath & strUploadFileName
                Dim strTempFullFileName As String = strSavePath & "temp_" & strUploadFileName 'Temp file name/location


                lblMessage.Text = "" 'initialize Page Message


                'Only allow JPG or GIF files
                If (contentType = "image/pjpeg") Or (contentType = "image/jpeg") Or (contentType = "image/gif") Then
                    CType(e.Item.FindControl("inpFileUp"), HtmlInputFile).PostedFile.SaveAs(strTempFullFileName)


                    lblMessage.Text = lblMessage.Text & "Accepted Upload: " & strTempFullFileName & "
" & _
                    "Content Type: " & contentType & "
" & _
                    "File Size: " & contentLength & "
"


                    'Resize Image if needed
                    Dim ThisImage As System.Drawing.Image = System.Drawing.Image.FromFile(strTempFullFileName)


                    Dim LgHorRes As Long = ThisImage.HorizontalResolution
                    Dim LgVerRes As Long = ThisImage.VerticalResolution
                    lblMessage.Text = lblMessage.Text & "Dimensions: " & ThisImage.Width & "(" & LgHorRes & ") x " & ThisImage.Height & "(" & LgVerRes & ")
"


                    'Determine image orientation
                    If ThisImage.Width > ThisImage.Height Then
                        strImageOrientation = "Landscape"
                    ElseIf ThisImage.Width = ThisImage.Height Then
                        strImageOrientation = "Square"
                    Else
                        strImageOrientation = "Portrait"
                    End If




                    'If we have maxWidth or MaxHeight turned on (not set to zero) and the uploaded image is wider or taller, then resize
                    Dim NewWidth As Long  'Holds Resized width
                    Dim NewHeight As Long ' Holds Resized height
                    Dim NewWidth2 As Long  'Holds Resized width #2
                    Dim NewHeight2 As Long ' Holds Resized height #2
                    'Too Wide?
                    If (intMaxWidth > 0) And (ThisImage.Width > intMaxWidth) Then
                        'Calculate New Width and Height
                        NewWidth = intMaxWidth
                        NewHeight = CInt(CInt(ThisImage.Height) / (CInt(ThisImage.Width) / NewWidth))
                        LgHorRes = ThisImage.HorizontalResolution
                        LgVerRes = ThisImage.VerticalResolution
                        lblMessage.Text = lblMessage.Text & "Image will be sized to: " & NewWidth & "(" & LgHorRes & ") x " & NewHeight & "(" & LgVerRes & ")
"
                    Else
                        'No resizing required, so just assign Width and Height to what it is now
                        NewWidth = ThisImage.Width
                        NewHeight = ThisImage.Height
                    End If
                    'Too Tall?
                    If (intMaxHeight > 0) And (NewHeight > intMaxHeight) Then
                        'Calculate New Width and Height
                        NewHeight2 = intMaxHeight
                        NewWidth2 = CInt(CInt(NewWidth) / (CInt(NewHeight) / NewHeight2))
                        lblMessage.Text = lblMessage.Text & "Image will be sized to: " & NewWidth2 & " x " & NewHeight2 & "
"
                    Else
                        'No resizing required, so just assign Width and Height to what it is now
                        NewWidth2 = NewWidth
                        NewHeight2 = NewHeight
                    End If


                    'Create new image which is now sized properly
                    Dim mg As System.Drawing.Image = System.Drawing.Image.FromFile(strTempFullFileName)
                    Dim newSize As System.Drawing.Size = New Size(NewWidth2, NewHeight2)
                    Dim bp As Bitmap = New Bitmap(newSize.Width, newSize.Height)
                    Dim g As Graphics = Graphics.FromImage(bp)


                    g.SmoothingMode = SmoothingMode.HighQuality
                    g.InterpolationMode = InterpolationMode.HighQualityBicubic
                    g.PixelOffsetMode = PixelOffsetMode.HighQuality


                    Dim rect As Rectangle = New Rectangle(0, 0, newSize.Width, newSize.Height)
                    g.DrawImage(mg, rect, 0, 0, mg.Width, mg.Height, GraphicsUnit.Pixel)


                    Dim pItem As PropertyItem


                    For Each pItem In ThisImage.PropertyItems
                        bp.SetPropertyItem(pItem)
                    Next






                    'Save gif
                    If (contentType = "image/gif") Then
                        bp.Save(strThisFullFileName, System.Drawing.Imaging.ImageFormat.Gif)


                        'Save JPEG
                    ElseIf (contentType = "image/pjpeg") Or (contentType = "image/jpeg") Then
                        Dim codecs As ImageCodecInfo() = ImageCodecInfo.GetImageEncoders()
                        Dim codec As ImageCodecInfo
                        Dim i As Integer = 0
                        While i < codecs.Length
                            If (codecs(i).MimeType.Equals("image/jpeg")) Then
                                codec = codecs(i)
                            End If
                            i = i + 1
                        End While
                        Dim encoderInstance As System.Drawing.Imaging.Encoder
                        Dim encoderParametersInstance As EncoderParameters
                        Dim encoderParameterInstance As EncoderParameter
                        'If codec Is "" Then
                        encoderInstance = System.Drawing.Imaging.Encoder.Quality
                        encoderParametersInstance = New EncoderParameters(2)
                        encoderParameterInstance = New EncoderParameter(encoderInstance, 85L)
                        encoderParametersInstance.Param(0) = encoderParameterInstance
                        encoderInstance = System.Drawing.Imaging.Encoder.ColorDepth
                        encoderParameterInstance = New EncoderParameter(encoderInstance, 24L)
                        encoderParametersInstance.Param(1) = encoderParameterInstance
                        'End If
                    bp.Save(strThisFullFileName, codec, encoderParametersInstance)
                End If




                    lblMessage.Text = lblMessage.Text & "Final File Saved As: " & strThisFullFileName & "
"