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Act, V.T.C.A., Leal Government Ccde § 262.021 et seq., concerning the <br />purchase of equipment and shall ma=tain an inventory record of all non- <br />:xpendabi�- persons property. as deffneC4 by county policy, that may be procured <br />-with fund_ provides hereunder. Any mi -property under Subrecipient's control <br />:hat was a:quired c- improved in whole )r in part with HOME funds must either <br />be: <br />a. Used by the Subrecipient to -feet the eligible activity in 24 C.F.R. § <br />92.205(2)(1) until five years after expiration or termination of the <br />Grantee': Agreement with HUD; or <br />b. Transfe.: ed to the Grantee; or <br />c. Dispose:: of in a manner, consistent with 24 C.F.R. § 85.31, which <br />results the amount of the then current fair market value of the <br />property less any portion the: --of attributable to expenditures of non- <br />HONIE ands for acquisition riereof, or improvements to, the property <br />being reimbursed to the Gran:=e. Such reimbursement is not required <br />if disposed of more than 5) five years after the expiration or <br />terminaton of this Agreemem . <br />d. Further, :f within five years )f the termination or expiration of this <br />Agreem—M, the Subrecipient eases to use any or all personal property <br />attribute ie to HO`lE funds .) meet an eligible activity, the personal <br />oropert, shall. in accordance with 24 C.F.R. § 85.32, either revert to <br />:he Grar:ee or be disposed of m accordance with the applicable federal <br />-ules amf regulations, includ:=Q but not limited to OMB Circular A- <br />110. SuL— art C. <br />e. The Grz .:ee in its sole disc, -::ion shall determine whether or not the <br />Subrecir:int use or any prop: -y meets the eligible activity contained <br />:n 2= C. F R. j 92.5(a)(1). <br />f. after tl:: expiratica of five ears, the Subrecipient shall have no <br />)bliJatic- to cor with =is section regarding real or personal <br />propert\ <br />g. \othins:: Dntained =erein shat. be construed to conflict with the duties <br />)f the �__'_�rec:pie; ::s set fo:-:a in the Texas tion -Profit Corporation <br />.pct ( Te%. Ann. Civ. St. Art. 1: =6-1.01. et seq.) or any other applicable <br />statue. <br />0'..3 Stand_ js <br />-he Subrt::piens s'. Il procure materials :n accordance with the requirements of <br />subpart C of O%• 3 Circuiar A -11C. Procurement Standards, and shall <br />