Common use of Use and Reversion of Assets Clause in Contracts

Use and Reversion of Assets. The use and disposition of real property and equipment under this Agreement shall be in compliance with the requirements of 24 CFR Part 84 and 24 CFR 570.502, 570.503, and 570.504, as applicable, which include but are not limited to the following: 1. SUBRECIPIENT shall transfer to the CITY any CDBG funds on hand and any accounts receivable attributable to the use of funds under this Agreement at the time of expiration, cancellation, or termination. 2. Real property under SUBRECIPIENT’s control that was acquired or improved, in whole or in part, with funds under this Agreement in excess of $25,000 shall be used to meet one of the CDBG National Objectives pursuant to 24 CFR 570.208 until five (5) years after expiration of this Agreement. If SUBRECIPIENT fails to use CDBG-assisted real property in a manner that meets a CDBG National Objective for the prescribed period of time, SUBRECIPIENT shall pay the CITY an amount equal to the current fair market value of the property less any portion of the value attributable to expenditures of non-CDBG funds for acquisition of, or improvement to, the property. Such payment shall constitute Program Income to the CITY. SUBRECIPIENT may retain real property acquired or improved under this Agreement after the expiration of the five-year period. 3. In all cases in which equipment acquired, in whole or in part, with funds under this Agreement is sold, the proceeds shall be Program Income (prorated to reflect the extent to that funds received under this Agreement were used to acquire the equipment). Equipment not needed by SUBRECIPIENT for activities under this Agreement shall be (a) transferred to the CITY for the CDBG Program or (b) retained after compensating the CITY [an amount equal to the current fair market value of the equipment less the percentage of non- CDBG funds used to acquire the equipment].

Use and Reversion of Assets. The use and disposition of real property and equipment under this Agreement shall be in compliance with the requirements of 24 CFR Part 84 and 24 CFR 570.502, 570.503, and 570.504, as applicable, which include but are not limited to the following: 1. SUBRECIPIENT The Subrecipient shall transfer to the CITY Grantee any CDBG funds on hand and any accounts receivable attributable to the use of funds under this Agreement at the time of expiration, cancellation, or termination. 2. Real property under SUBRECIPIENTthe Subrecipient’s control that was acquired or improved, in whole or in part, with funds under this Agreement in excess of $25,000 shall be used to meet one of the CDBG National Objectives pursuant to 24 CFR 570.208 until five (5) years after expiration of this Agreement. If SUBRECIPIENT the Subrecipient fails to use CDBG-assisted real property in a manner that meets a CDBG National Objective for the prescribed period of time, SUBRECIPIENT the Subrecipient shall pay the CITY Grantee an amount equal to the current fair market value of the property less any portion of the value attributable to expenditures of non-CDBG funds for acquisition of, or improvement to, the property. Such payment shall constitute Program Income program income to the CITYGrantee. SUBRECIPIENT The Subrecipient may retain real property acquired or improved under this Agreement after the expiration of the five-year period. 3. In all cases in which equipment acquired, in whole or in part, with funds under this Agreement is sold, the proceeds shall be Program Income program income (prorated to reflect the extent to that funds received under this Agreement were used to acquire the equipment). Equipment not needed by SUBRECIPIENT the Subrecipient for activities under this Agreement shall be (a) transferred to the CITY Grantee for the CDBG Program program or (b) retained after compensating the CITY [an amount equal to the current fair market value of the equipment less the percentage of non- CDBG funds used to acquire the equipment]Grantee.

Use and Reversion of Assets. The use and disposition of real property and equipment under this Agreement shall be in compliance with the requirements of 24 CFR Part 84 and 24 CFR 570.502, 570.503, and 570.504, as applicable, which include but are not limited to the following: 1. SUBRECIPIENT The Recipient shall transfer to the CITY Grantee any CDBG funds on hand and any accounts receivable attributable to the use of funds under this Agreement at the time of expiration, cancellation, or termination. 2. Real property under SUBRECIPIENTthe Recipient’s control that was acquired or improved, in whole or in part, with funds under this Agreement in excess of $25,000 shall be used to meet one of the CDBG National Objectives pursuant to 24 CFR 570.208 until five (5) years after expiration of this Agreement. If SUBRECIPIENT the Recipient fails to use CDBG-assisted real property in a manner that meets a CDBG National Objective for the prescribed period of time, SUBRECIPIENT the Recipient shall pay the CITY Grantee an amount equal to the current fair market value of the property less any portion of the value attributable to expenditures of non-CDBG funds for acquisition of, or improvement to, the property. Such payment shall constitute Program Income program income to the CITYGrantee. SUBRECIPIENT The Recipient may retain real property acquired or improved under this Agreement after the expiration of the five-year period. 3. In all cases in which equipment acquired, in whole or in part, with funds under this Agreement is sold, the proceeds shall be Program Income program income (prorated to reflect the extent to that funds received under this Agreement were used to acquire the equipment). Equipment not needed by SUBRECIPIENT the Recipient for activities under this Agreement shall be (a) transferred to the CITY Grantee for the CDBG Program program or (b) retained after compensating the CITY Grantee [an amount equal to the current fair market value of the equipment less the percentage of non- CDBG funds used to acquire the equipment].

Use and Reversion of Assets. The use and disposition of real property and equipment under this Agreement shall be in compliance with the requirements of 24 2 CFR Part 84 200 Subpart D and 24 CFR 570.502, 570.503, and 570.504, as applicable, which include but are not limited to the following: 1. SUBRECIPIENT The Sub-Recipient shall transfer to the CITY Grantee any CDBG CDBG-DR funds on hand and any accounts receivable attributable to the use of funds under this Agreement at the time of expiration, cancellation, or termination. 2. Real property under SUBRECIPIENTthe Sub-Recipient’s control that was acquired or improved, in whole or in part, with funds under this Agreement in excess of $25,000 shall be used to meet one of the CDBG CDBG-DR National Objectives pursuant to 24 CFR 570.208 until five (5) years after expiration of this Agreement. If SUBRECIPIENT the Sub- Recipient fails to use CDBG-DR- assisted real property in a manner that meets a CDBG CDBG-DR National Objective for the prescribed period of time, SUBRECIPIENT the Sub-Recipient shall pay the CITY Grantee an amount equal to the current fair market value of the property less any portion of the value attributable to expenditures of non-CDBG CDBG- DR funds for acquisition of, or improvement to, the property. Such payment shall constitute Program Income program income to the CITYGrantee. SUBRECIPIENT The Sub-Recipient may retain real property acquired or improved under this Agreement after the expiration of the five-year period. 3. In all cases in which equipment acquired, in whole or in part, with funds under this Agreement is sold, the proceeds shall be Program Income program income (prorated to reflect the extent to that funds received under this Agreement were used to acquire the equipment). Equipment not needed by SUBRECIPIENT the Sub-Recipient for activities under this Agreement shall be (a) transferred to the CITY Grantee for the CDBG Program or (b) retained after compensating the CITY [an amount equal to the current fair market value of the equipment less the percentage of non- CDBG funds used to acquire the equipment].CDBG-DR program or

Use and Reversion of Assets. The use and disposition of real property and equipment under this Agreement shall be in compliance with the requirements of 24 CFR Part 84 and 24 CFR 570.502, 570.503, and 570.504, as applicable, which include but are not limited to the following: 1. SUBRECIPIENT The Recipient shall transfer to the CITY Grantee any CDBG CDBG-CV funds on hand and any accounts receivable attributable to the use of funds under this Agreement at the time of expiration, cancellation, or termination. 2. Real property under SUBRECIPIENTthe Recipient’s control that was acquired or improved, in whole or in part, with funds under this Agreement in excess of $25,000 shall be used to meet one of the CDBG National Objectives pursuant to 24 CFR 570.208 until five (5) years after expiration of this Agreement. If SUBRECIPIENT the Recipient fails to use CDBG-assisted real property in a manner that meets a CDBG National Objective for the prescribed period of time, SUBRECIPIENT the Recipient shall pay the CITY Grantee an amount equal to the current fair market value of the property less any portion of the value attributable to expenditures of non-CDBG funds for acquisition of, or improvement to, the property. Such payment shall constitute Program Income program income to the CITYGrantee. SUBRECIPIENT The Recipient may retain real property acquired or improved under this Agreement after the expiration of the five-year period. 34. In all cases in which equipment acquired, in whole or in part, with funds under this Agreement is sold, the proceeds shall be Program Income program income (prorated to reflect the extent to that funds received under this Agreement were used to acquire the equipment). Equipment not needed by SUBRECIPIENT the Recipient for activities under this Agreement shall be (a) transferred to the CITY Grantee for the CDBG Program program or (b) retained after compensating the CITY Grantee [an amount equal to the current fair market value of the equipment less the percentage of non- CDBG funds used to acquire the equipment].

Use and Reversion of Assets. The use and disposition of real property and equipment under this Agreement shall be in compliance with the requirements of 24 CFR Part 84 and 24 CFR 570.502, 570.503, and 570.504, as applicable, which include but are not limited to the following: 1. SUBRECIPIENT The Recipient shall transfer to the CITY Grantee any CDBG funds on hand and any accounts receivable attributable to the use of funds under this Agreement at the time of expiration, cancellation, or termination. 2. Real property under SUBRECIPIENTthe Recipient’s control that was acquired or improved, in whole or in part, with funds under this Agreement in excess of $25,000 shall be used to meet one of the CDBG National Objectives pursuant to 24 CFR 570.208 until five (5) years after expiration of this Agreement. If SUBRECIPIENT the Recipient fails to use CDBG-assisted real property in a manner that meets a CDBG National Objective for the prescribed period of time, SUBRECIPIENT the Recipient shall pay the CITY Grantee an amount equal to the current fair market value of the property less any portion of the value attributable to expenditures of non-CDBG funds for acquisition of, or improvement to, the property. Such payment shall constitute Program Income program income to the CITYGrantee. SUBRECIPIENT The Recipient may retain real property acquired or improved under this Agreement after the expiration of the five-year period. 34. In all cases in which equipment acquired, in whole or in part, with funds under this Agreement is sold, the proceeds shall be Program Income program income (prorated to reflect the extent to that funds received under this Agreement were used to acquire the equipment). Equipment not needed by SUBRECIPIENT the Recipient for activities under this Agreement shall be (a) transferred to the CITY Grantee for the CDBG Program program or (b) retained after compensating the CITY Grantee [an amount equal to the current fair market value of the equipment less the percentage of non- CDBG funds used to acquire the equipment].

Use and Reversion of Assets. The use and disposition of real property and equipment under this Agreement shall be in compliance with the requirements of 24 2 CFR Part 84 200.311 (c) and 24 CFR 570.502, 570.503, and 570.504, as applicable, which include but are not limited to the following: 1. SUBRECIPIENT Subrecipient shall transfer to the CITY Grantee any CDBG funds on hand and any accounts receivable which are attributable to the use of funds under this Agreement at the time of expiration, cancellation, or termination. 2. Real property under SUBRECIPIENT’s Subrecipient's control that was acquired or improved, in whole or in part, with funds under this Agreement in excess of $25,000 shall be used to meet one of the CDBG National Objectives pursuant to 24 CFR 570.208 until five (5) years after expiration of this Agreement. If SUBRECIPIENT Subrecipient fails to use CDBG-assisted real property in a manner that meets a CDBG National Objective for the prescribed period of time, SUBRECIPIENT Subrecipient shall pay the CITY Grantee an amount equal to the current fair market value of the property less any portion of the value attributable to expenditures of non-CDBG funds for acquisition of, of or improvement to, the property. Such payment shall constitute Program Income program income to the CITYGrantee. SUBRECIPIENT Subrecipient may retain real property acquired or improved under this Agreement after the expiration of the five-year period. 3. In all cases in which equipment acquired, in whole or in part, with funds under this Agreement is sold, the proceeds shall be Program Income program income (prorated to reflect the extent to that which funds received under this Agreement were used to acquire the equipment). Equipment not needed by SUBRECIPIENT Subrecipient for activities under this Agreement shall be (a) transferred to the CITY Grantee for the CDBG Program program or (b) retained after compensating the CITY [Grantee in an amount equal to the current fair market value of the equipment less the percentage of non- non-CDBG funds used to acquire the equipment].

Use and Reversion of Assets. The use and disposition of real property and equipment under this Agreement shall be in compliance with the requirements of 24 CFR Part 84 and 24 CFR 570.502, 570.503, and 570.504, as applicable, which include but are not limited to the following: 1. SUBRECIPIENT The Recipient shall transfer to the CITY Grantee any CDBG funds on hand and any accounts receivable attributable to the use of funds under this Agreement at the time of expiration, cancellation, or termination. 2. Real property under SUBRECIPIENTthe Recipient’s control that was acquired or improved, in whole or in part, with funds under this Agreement in excess of $25,000 shall be used to meet one of the CDBG National Objectives pursuant to 24 CFR 570.208 until five (5) years after expiration of this Agreement. If SUBRECIPIENT the Recipient fails to use CDBG-assisted real property in a manner that meets a CDBG National Objective for the prescribed period of time, SUBRECIPIENT the Recipient shall pay the CITY Grantee an amount equal to the current fair market value of the property less any portion of the value attributable to expenditures of non-CDBG funds for acquisition of, or improvement to, the property. Such payment shall constitute Program Income program income to the CITYGrantee. SUBRECIPIENT The Recipient may retain real property acquired or improved under this Agreement after the expiration of the five-year period. 34. In all cases in which equipment acquired, in whole or in part, with funds under this Agreement is sold, the proceeds shall be Program Income program income (prorated to reflect the extent to that funds received under this Agreement were used to acquire the equipment). Equipment not needed by SUBRECIPIENT the Recipient for activities under this Agreement shall be (a) transferred to the CITY Grantee for the CDBG Program program or (b) retained after compensating the CITY Grantee [an amount equal to the current fair market value of the equipment less the percentage of non- non-CDBG funds used to acquire the equipment].

Use and Reversion of Assets. The use and disposition of real property and equipment under this Agreement shall be in compliance with the requirements of 24 CFR Part 84 and 24 CFR 570.502, 570.503, and 570.504, as applicable, which include but are not limited to the following: 1. SUBRECIPIENT The Recipient shall transfer to the CITY Grantee any CDBG funds on hand and any accounts receivable attributable to the use of funds under this Agreement at the time of expiration, cancellation, or termination. 2. Real property under SUBRECIPIENTthe Recipient’s control that was acquired or improved, in whole or in part, with funds under this Agreement in excess of $25,000 shall be used to meet one of the CDBG National Objectives pursuant to 24 CFR 570.208 until five (5) years after expiration of this Agreement. If SUBRECIPIENT the Recipient fails to use CDBG-assisted real property in a manner that meets a CDBG National Objective for the prescribed period of time, SUBRECIPIENT the Recipient shall pay the CITY Grantee an amount equal to the current fair market value of the property less any portion of the value attributable to expenditures of non-CDBG funds for acquisition of, or improvement to, the property. Such payment shall constitute Program Income program income to the CITYGrantee. SUBRECIPIENT The Recipient may retain real property acquired or improved under this Agreement after the expiration of the five-year period. 3. In all cases in which equipment acquired, in whole or in part, with funds under this Agreement is sold, the proceeds shall be Program Income program income (prorated to reflect the extent to that funds received under this Agreement were used to acquire the equipment). Equipment not needed by SUBRECIPIENT the Recipient for activities under this Agreement shall be (a) transferred to the CITY Grantee for the CDBG Program program or (b) retained after compensating the CITY Grantee [an amount equal to the current fair market value of the equipment less the percentage of non- non-CDBG funds used to acquire the equipment].

Use and Reversion of Assets. The use and disposition of real property and equipment under this Agreement shall be in compliance with the requirements of 24 CFR Part 84 85 or Part 84, as applic able, and 24 CFR 570.502, 570.503, and 570.504, as applicablePart 570 Subpart J, which include but are not limited to the following: 1. SUBRECIPIENT Subrecipient shall transfer to the CITY Grantee any CDBG CDBG-DR funds on hand and any accounts receivable attributable to the use of funds under this Agreement at the time of expiration, cancellation, or termination. 2. Real property under SUBRECIPIENTSubrecipient’s control that was acquired or improved, in whole or in part, with funds under this Agreement in excess of $25,000 shall be used to meet one of the CDBG National Objectives pursuant to 24 CFR 570.208 until five (5) years after expiration of this AgreementAgreement or such longer period of time as Grantee deems appropriate. If SUBRECIPIENT Subrecipient fails to use CDBG-assisted real property in a manner that meets a CDBG National Objective for the prescribed period of time, SUBRECIPIENT Subrecipient shall pay the CITY Grantee an amount equal to the current fair market value of the property less any portion of the value attributable to expenditures of non-CDBG funds for acquisition of, or improvement to, the property. Such payment shall constitute Program Income to the CITYGrantee. SUBRECIPIENT Subrecipient may retain real property acquired or improved under this Agreement after the expiration of the five-year periodperiod or such longer period of time as Grantee deems appropriate. 3. In all cases in which equipment acquired, in whole or in part, with funds under this Agreement is sold, the proceeds shall be Program Income (prorated to reflect the extent to that funds received under this Agreement were used to acquire the equipment). Equipment not needed by SUBRECIPIENT Subrecipient for activities under this Agreement shall be (a) transferred to the CITY for the CDBG Program Grantee; or (b) retained after compensating the CITY [Grantee an amount equal to the current fair market value of the equipment less the percentage of non- CDBG non-CDBG-DR funds used to acquire the equipment].

Use and Reversion of Assets. The use and disposition of real property and equipment under this Agreement shall be in compliance comply with the requirements of 24 CFR Part 84 and 24 CFR 570.502, 570.503, and 570.504, as applicable, which include but are not limited to the following: 1. SUBRECIPIENT The Subrecipient shall transfer to the CITY Grantee any CDBG funds on hand and any accounts receivable attributable to the use of funds under this Agreement at the time of expiration, cancellation, or termination. 2. Real property under SUBRECIPIENTthe Subrecipient’s control that was acquired or improved, in whole or in part, with funds under this Agreement in excess of exceeding $25,000 shall be used to meet one of the CDBG National Objectives pursuant to 24 CFR 570.208 until five (5) years after expiration of this AgreementAgreement [or such longer time as the Grantee deems appropriate]. If SUBRECIPIENT the Subrecipient fails to use CDBG-CDBG assisted real property in a manner that meets a CDBG National Objective for the prescribed period of time, SUBRECIPIENT the Subrecipient shall pay the CITY Grantee an amount equal to the current fair market value of the property less any portion of the value attributable to expenditures of non-CDBG funds for acquisition of, or improvement to, the property. Such payment shall constitute Program Income program income to the CITYGrantee. SUBRECIPIENT The Subrecipient may retain real property acquired or improved under this Agreement after the expiration of the five-year periodperiod [or such longer time as the Grantee deems appropriate]. 3. In all cases in which equipment acquired, in whole or in part, with funds under this Agreement is sold, the proceeds shall be Program Income program income (prorated to reflect the extent to that funds received under this Agreement were used to acquire the equipment). Equipment not needed by SUBRECIPIENT the Subrecipient for activities under this Agreement shall be (a1) transferred to the CITY Grantee for the CDBG Program program or (b2) retained after compensating the CITY [Grantee in an amount equal to the current fair market value of the equipment less the percentage of non- non-CDBG funds used to acquire the equipment].

Use and Reversion of Assets. The use and disposition of real property and equipment under this Agreement shall be in compliance with the requirements of 24 CFR Part 84 and 24 CFR 570.502, 570.503, and 570.504, as applicable, which include but are not limited to the following: 1. SUBRECIPIENT The Subrecipient shall transfer to the CITY Grantee any CDBG funds on hand and any accounts receivable attributable to the use of funds under this Agreement at the time of expiration, cancellation, or termination. 2. Real property under SUBRECIPIENTthe Subrecipient’s control that was acquired or improved, in whole or in part, with funds under this Agreement in excess of $25,000 shall be used to meet one of the CDBG National Objectives pursuant to 24 CFR 570.208 until five (5) years after expiration of this Agreement. If SUBRECIPIENT the Subrecipient fails to use CDBG-assisted real property in a manner that meets a CDBG National Objective for the prescribed period of time, SUBRECIPIENT the Subrecipient shall pay the CITY Grantee an amount equal to the current fair market value of the property less any portion of the value attributable to expenditures of non-CDBG funds for acquisition of, or improvement to, the property. Such payment shall constitute Program Income program income to the CITYGrantee. SUBRECIPIENT The Subrecipient may retain real property acquired or improved under this Agreement after the expiration of the five-year period. 3. In all cases in which equipment acquired, in whole or in part, with funds under this Agreement is sold, the proceeds shall be Program Income program income (prorated to reflect the extent to that funds received under this Agreement were used to acquire the equipment). Equipment not needed by SUBRECIPIENT the Subrecipient for activities under this Agreement shall be (a) transferred to the CITY Grantee for the CDBG Program program or (b) retained after compensating the CITY [Grantee an amount equal to the current fair market value of the equipment less the percentage of non- non-CDBG funds used to acquire the equipment].

Use and Reversion of Assets. The use and disposition of real property and equipment under this Agreement shall be in compliance with the requirements of 24 2 CFR Part 84 200 and 24 CFR 570.502, 570.503, and 570.504, as applicable, which include but are not limited to the following: 1. SUBRECIPIENT shall transfer to the CITY any CDBG funds on hand and any accounts receivable attributable to the use of funds under this Agreement at the time of expiration, cancellation, or termination. 2. Real property under SUBRECIPIENT’s control that was acquired or improved, in whole or in part, with funds under this Agreement in excess of $25,000 shall be used to meet one of the CDBG National Objectives pursuant to 24 CFR 570.208 until five (5) years after expiration of this Agreement. If SUBRECIPIENT fails to use CDBG-assisted real property in a manner that meets a CDBG National Objective for the prescribed period of time, SUBRECIPIENT shall pay the CITY an amount equal to the current fair market value of the property less any portion of the value attributable to expenditures of non-CDBG funds for acquisition of, or improvement to, the property. Such payment shall constitute Program Income to the CITY. SUBRECIPIENT may retain real property acquired or improved under this Agreement after the expiration of the five-year period. 3. In all cases in which equipment acquired, in whole or in part, with funds under this Agreement is sold, the proceeds shall be Program Income (prorated to reflect the extent to that funds received under this Agreement were used to acquire the equipment). Equipment not needed by SUBRECIPIENT for activities under this Agreement shall be (a) transferred to the CITY for the CDBG Program or (b) retained after compensating the CITY [an amount equal to the current fair market value of the equipment less the percentage of non- CDBG funds used to acquire the equipment].

Use and Reversion of Assets. The use and disposition of real property and equipment under this Agreement shall be in compliance with the requirements of 24 CFR Part 84 and 24 CFR 570.502, 570.503, and 570.504, as applicable, which include but are not limited to the following: 1. SUBRECIPIENT The Subrecipient shall transfer to the CITY Grantee any CDBG funds on hand and any accounts receivable attributable to the use of funds under this Agreement at the time of expiration, cancellation, or termination. 2. Real property under SUBRECIPIENTthe Subrecipient’s control that was acquired or improved, in whole or in part, with funds under this Agreement in excess of $25,000 shall be used to meet one of the CDBG National Objectives pursuant to 24 CFR 570.208 until five (5) years after expiration of this AgreementAgreement . If SUBRECIPIENT the Subrecipient fails to use CDBG-assisted real property in a manner that meets a CDBG National Objective for the prescribed period of time, SUBRECIPIENT the Subrecipient shall pay the CITY Grantee an amount equal to the current fair market value of the property less any portion of the value attributable to expenditures of non-CDBG funds for acquisition of, or improvement to, the property. Such payment shall constitute Program Income program income to the CITYGrantee. SUBRECIPIENT The Subrecipient may retain real property acquired or improved under this Agreement after the expiration of the five-year periodperiod . 3. In all cases in which equipment acquired, in whole or in part, with funds under this Agreement is sold, the proceeds shall be Program Income program income (prorated to reflect the extent to that funds received under this Agreement were used to acquire the equipment). Equipment not needed by SUBRECIPIENT the Subrecipient for activities under this Agreement shall be (a) transferred to the CITY Grantee for the CDBG Program program or (b) retained after compensating the CITY Grantee [an amount equal to the current fair market value of the equipment less the percentage of non- non-CDBG funds used to acquire the equipment].

Use and Reversion of Assets. The use and disposition of real property and equipment under this Agreement shall be in compliance with the requirements of 24 CFR Part 84 and 24 CFR 570.502, 570.503, and 570.504, as applicable, which include but are not limited to the following: 1. SUBRECIPIENT The CBDO shall transfer to the CITY Grantee any CDBG funds on hand and any accounts receivable attributable to the use of funds under this Agreement at the time of expiration, cancellation, or termination. 2. Real property under SUBRECIPIENT’s the CBDOs control that was acquired or improved, in whole or in part, with funds under this Agreement in excess of $25,000 $ 23,169.00 shall be used to meet one of the CDBG National Objectives pursuant to 24 CFR 570.208 until five (5) years after expiration of this Agreement. If SUBRECIPIENT the CBDO fails to use CDBG-assisted real property in a manner that meets a CDBG National Objective for the prescribed period of time, SUBRECIPIENT the CBDO shall pay the CITY Grantee an amount equal to the current fair market value of the property less any portion of the value attributable to expenditures of non-CDBG funds for acquisition of, or improvement to, the property. Such payment shall constitute Program Income program income to the CITYGrantee. SUBRECIPIENT The CBDO may retain real property acquired or improved under this Agreement after the expiration of the five-year periodperiod or such longer period of time as the Grantee deems appropriate in writing. 3. In all cases in which equipment acquired, in whole or in part, with funds under this Agreement is sold, the proceeds shall be Program Income program income (prorated to reflect the extent to that funds received under this Agreement were used to acquire the equipment). Equipment not needed by SUBRECIPIENT the CBDO for activities under this Agreement shall be (be: a) transferred to the CITY Grantee for the CDBG Program program, or (b) retained after compensating the CITY [Grantee an amount equal to the current fair market value of the equipment less the pro-rated percentage of non- non-CDBG funds used to acquire the equipment].

Use and Reversion of Assets. The If applicable, the use and disposition of real property and equipment under this Agreement shall be in compliance with follow the requirements of 24 CFR Part 84 applicable laws and 24 CFR 570.502, 570.503, and 570.504, as applicableregulations, which include but are not limited to the following: 1. SUBRECIPIENT : The SUBGRANTEE shall transfer to the CITY PARTNER4WORK any CDBG funds on hand and any accounts receivable attributable to the use of funds under this Agreement at the time of expiration, cancellation, or termination. 2. Real property under SUBRECIPIENTthe SUBGRANTEE’s control that was acquired or improved, in whole or in part, with funds under this Agreement in excess of more than $25,000 shall be used to meet one of the CDBG National Objectives pursuant to 24 CFR 570.208 relevant objectives until five SEVEN (57) years after expiration of this AgreementAgreement or such longer period as the PARTNER4WORK deems appropriate. If SUBRECIPIENT the SUBGRANTEE fails to use CDBGthe funds-assisted real property in a manner that meets a CDBG National Objective consistent with this Agreement for the prescribed period of timeperiod, SUBRECIPIENT the SUBGRANTEE shall pay the CITY PARTNER4WORK an amount equal to the current fair market value of the property less any portion of the value attributable to expenditures of non-CDBG distributed funds for acquisition of, or improvement to, the property. Such payment shall constitute Program Income program income to PARTNER4WORK and shall be made within thirty (30) days of the CITYtermination of this Agreement. SUBRECIPIENT The SUBGRANTEE may otherwise retain real property acquired or improved under this Agreement after the expiration of the fiveseven-year period. 3period or such longer period as PARTNER4WORK deems appropriate. In all cases in which equipment acquired, in whole or in part, with funds under this Agreement is sold, the proceeds shall be Program Income program income (prorated to reflect the extent to that funds received under this Agreement were used to acquire the equipment). Equipment not needed by SUBRECIPIENT the SUBGRANTEE for activities under this Agreement shall be (a) transferred to the CITY PARTNER4WORK for the CDBG Program program or (b) retained after compensating the CITY [PARTNER4WORK an amount equal to the current fair market value of the equipment less the percentage of non- CDBG non-program funds used to acquire the equipment].

Use and Reversion of Assets. The use and disposition of real property and equipment under this Agreement shall be in compliance with the requirements of 24 2 CFR Part 84 200.311 and 24 CFR 570.502, 570.503, and 570.504, as applicable, which include include, but are not limited to to, the following: 1. SUBRECIPIENT The Subrecipient shall transfer to the CITY City any CDBG funds on hand and any accounts receivable attributable to the use of funds under this Agreement at the time of expiration, cancellation, or termination. 2. Real property under SUBRECIPIENTthe Subrecipient’s control that was acquired or improved, in whole or in part, with funds under this Agreement in excess of $25,000 shall be used to meet one of the CDBG National Objectives national objectives pursuant to 24 CFR 570.208 until five (5) years after expiration of this Agreement570.208. If SUBRECIPIENT the Subrecipient fails to use CDBG-assisted real property in a manner that meets a CDBG National Objective national objective for the prescribed period of time, SUBRECIPIENT the Subrecipient shall pay the CITY City an amount equal to the current fair market value of the real property less any portion of the value attributable to expenditures of non-CDBG funds for acquisition of, or improvement to, the real property. Such payment shall constitute Program Income program income to the CITYCity. SUBRECIPIENT The Subrecipient may retain real property acquired or improved under this Agreement after the expiration of the five-year period. 3affordability period or such longer period of time as the City deems appropriate in writing. In all cases in which equipment that was acquired, in whole or in part, with funds under this Agreement is sold, the proceeds shall be Program Income program income (prorated to reflect the extent to that funds received under this Agreement were used to acquire the equipment). Equipment not needed by SUBRECIPIENT the Subrecipient for activities under this Agreement shall be (be: a) transferred to the CITY City for the CDBG Program program, or (b) retained after compensating the CITY [City an amount equal to the current fair market value of the equipment less the pro-rated percentage of non- non-CDBG funds used to acquire the equipment].

Use and Reversion of Assets. The use and disposition of real property immovable property, equipment and equipment remaining Grant Funds under this Agreement shall be in compliance with the requirements of 24 CFR Part 84 and 24 CFR 570.502, 570.503, and 570.504, as applicableall CDBG regulations, which include but are not limited to the following: 1. SUBRECIPIENT Grantee shall transfer to the CITY OCD any CDBG funds Grant Funds on hand and any accounts receivable attributable to the use of funds under this Agreement at the time of expiration, cancellation, or termination. 2. Real Immovable property under SUBRECIPIENTGrantee’s control that was acquired or improved, in whole or in part, with funds under this Agreement in excess of $25,000 shall be used to meet one of the CDBG National Objectives pursuant to set forth in 24 CFR 570.208 until five (5) years after expiration of this AgreementAgreement (or such longer period as the OCD deems appropriate). If SUBRECIPIENT Grantee fails to use CDBG-assisted real such immovable property in a manner that meets a CDBG National Objective for the prescribed period of time, SUBRECIPIENT Grantee shall pay to the CITY OCD an amount equal to the current fair market value of the property less any portion of the value attributable to expenditures of non-CDBG funds for the acquisition of, or improvement to, the property. Such payment shall constitute Program Income program income to the CITYOCD. SUBRECIPIENT Grantee may retain real property acquired or improved under this Agreement after the expiration of the five-year period, or such longer period as the OCD deems appropriate. 3. In all cases in which equipment acquired, in whole or in part, with funds under this Agreement Grant Funds is sold, the proceeds shall be Program Income program income (prorated to reflect the extent to that which funds received under this Agreement were used to acquire the equipment). Equipment not needed by SUBRECIPIENT Grantee for activities under this Agreement shall be (a) transferred to the CITY OCD for the CDBG Program program or (b) retained by Grantee after compensating the CITY [OCD an amount equal to the current fair market value of the equipment less the percentage of non- non-CDBG funds used to acquire the equipment].

Use and Reversion of Assets. The use and disposition of real property and equipment under this Agreement agreement shall be in compliance with the requirements of 24 CFR Part 84 and 24 CFR 570.502comply with, 570.503, and 570.504, as applicable, which include but are not limited to to, the following: 1. The SUBRECIPIENT shall transfer to the CITY any CDBG funds on hand and any accounts receivable attributable to the use of funds under this Agreement agreement at the time of expiration, cancellation, or termination. 2. Real property under the SUBRECIPIENT’s control that was acquired or improved, in whole or in part, with funds under this Agreement agreement in excess of $25,000 shall be used to meet one of the CDBG National Objectives pursuant to 24 CFR 570.208 until five (5) years after expiration of this Agreementagreement [or such longer period of time as the CITY deems appropriate]. If the SUBRECIPIENT fails to use CDBG-assisted real property in a manner that meets a CDBG National Objective for the prescribed period of time, the SUBRECIPIENT shall pay the CITY an amount equal to the current fair market value of the property less any portion of the value attributable to expenditures of non-CDBG funds for acquisition of, or improvement to, the property. Such payment shall constitute Program Income program income to the CITY. The SUBRECIPIENT may retain real property acquired or improved under this Agreement agreement after the expiration of the five-year periodperiod [or such longer period of time as the CITY deems appropriate]. 3. In all cases in which equipment acquired, in whole or in part, with funds under this Agreement agreement is sold, the proceeds shall be Program Income program income (prorated to reflect the extent to that funds received under this Agreement agreement were used to acquire the equipment). Equipment not needed by the SUBRECIPIENT for activities under this Agreement agreement shall be (a) be a. transferred to the CITY for the CDBG Program or (b) program or b. retained after compensating the CITY [an amount equal to the current fair market value of the equipment less the percentage of non- non-CDBG funds used to acquire the equipment].