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<br />e <br /> <br />e <br /> <br />certain advances, payments will be made for eligible expenses actually incurred <br />by 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 !bnds available under this Agreement for costs incurred by the <br />Grantee on behalf of the Subrecipient. <br /> <br />D. Procurement <br /> <br />1. Comoliance <br /> <br />The Subrecipient shall comply with current county policy concerning the purchase <br />of equipment and shall maintain an inventory record of all non-expendable <br />personal property as defined by such policy as may be procured with funds <br />provided herein. Any real property under Subrecipient's control that was acquired <br />or improved in whole or in part with CDBG funds must either be: <br /> <br />a. Used by the Subrecipient to meet one of the national objectives in 24 CFR <br />570.200(a) (2) and (3) until five years after expiration or termination of the <br />Grantee's Agreement with HUD; or <br /> <br />b. Transferred to the Grantee; or <br /> <br />c. Disposed of in a manner which results in the amount of the then current fair <br />market value of the property less any portion thereof attributable to <br />expenditures of non-CDBG funds for acquisition thereof, or improvements to, <br />the property being reimbursed to the Grantee. Such reimbursement is not <br />required if disposed of more than five (5) years after the expiration or <br />termination of this Agreement. <br /> <br />d. Further, if within five 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 property <br />shall either revert to the Grantee or be disposed of in accordance with the <br />applicable federalru1es and regulations, including but not limited to OMB <br />Circular A-IIO. <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 in 24 <br />CPR 570.200(a) (2) and (3). <br /> <br />f. After the expiration of five years, the Subrecipient shall have no obligation to <br />comply with this section regarding real or personal property. <br /> <br />12 <br /> <br />" ". <br />