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<br />,. <br /> <br />e <br /> <br />e <br /> <br />the Subrecipient, and not to exceed actual cash requirements. Payments will be <br />adjusted by the Grantee in accordance with advance fund and program income <br />balances available in Subrecipient accounts. In addition, the Grantee reserves the <br />right to liquidate funds available under this Agreement for costs incurred by the <br />Grantee on behalf of the Subrecipient. <br /> <br />D. Procurement <br /> <br />1. Compliance. <br /> <br />The Subrecipient shall comply with state law concerning the purchase of <br />equipment and services. Any real or personal property under Subrecipient's <br />control that was acquired or improved in whole or in part'with CDBG funds must <br />either be: <br /> <br />a. Used by the Subrecipient to meet one of the national objectives in 24 <br />C.F.R. 570.200(a) (2) and (3) until 5 years after expiration or <br />termination of the Grantee's Agreement with HUD; or <br /> <br />b. Transferred to the Grantee; or <br /> <br />c. Disposed of in a manner, consistent with 24 C,F.R. 85.31, which results <br />in the amount of the then current fair market value of the property less <br />any portion thereof attributable to expenditures of non-CDBG funds <br />for acquisition thereof, or improvements to, the property being <br />reimbursed to the Grantee, Such reimbursement is not required if <br />disposed of more than 5 years after the expiration or termination of this <br />Agreement. <br /> <br />d, Further, if within 5 years of the termination or expiration of this <br />Agreement, the Subrecipient ceases to use any or all personal property <br />attributable to CDBG funds to meet a national objective, the personal <br />property shall, in accordance with 24 C,F,R. 85.32, either revert to the <br />Grantee or be disposed of in accordance with the applicable federal <br />rules and regulations, including but not limited to OMB Circular A- <br />102, Subpart C. <br /> <br />e. The Grantee in its sole discretion shall determine whether or not the <br />Subrecipient use of any property meets a national objective contained <br />in 24 C.F,R. 570.200(a) (2) and (3). <br /> <br />f, After the expiration of 5 years, the Subrecipient shall have no <br />obligation to comply with this section regarding real or personal <br />property, <br /> <br />11 <br />