FULL AGENDA PACKET 2021-07-06 - Laserfiche WebLink

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EXHIBIT 1 C- Subiect to the obligations ser fortll herein, title to equipment acquired under the terms of this Aga-cenlent "ill test upon :u:quisitiorl ill SLTRRFCTPTFNT. What said equipment which has hecrl acquired in accordanec with this Agpcarea and all applicable regulations is no longer needed for said program, disposition of said equipment will be made as follows_ I . Ttans of cquiprncnr with n catrrcnt per unit fair marker valtic of Iess rhnn $5,000.00 may be romncd, sold or olhawisC disposed of wish no furiha-obligaiion to CTTY. 2- Items of equipment with a current tan marker per unit value of S 5,1100.00 or more may be retained or sold and CITY shall have the right Lo an amount calculated b-y multiplying the cwrcnl market valtic or pro"c(N from tile. sale by CI 1 Y's ;bale of federal funds used to acquire the ultlipmont, in accordimce with 2 Cl-R 200.313(e)(2). n. SUIIRGCIPIFNT hereby agrees, upon the demand of CITY, to execute, acknoNvIedge and deliver, or cause any person or entity who may have any claim to light. ha-Clndcr or under any (locurnenl, insuumenl or agreement executed in huthcranec of the services and activities to be perfonncd hereunder, to execute, acknowledge and deliver, to CITY assiglment(S), quit claim deed(s) or such other and further insuuntents_ doculueluS and agreements as may be necessary, in the sole and absolute discretion ol'C1TY_ to vest in CITY all of SUTIRFCIPIFNT's right, title and interest (if any it may have) in and to CITY, CDR(i or 0111,Tfedcn:cl, stale and/or local accounts or prun-anl funds oral location of funds to which CTTY is Or may be. anitted, either for its own account or as fiduciary or tnutec for others, which wc7c obwincd for the purpose of the pel7ornance of this Agreement of any previous agreements relating to the same subject luatter of activities as this Agreement, together with any instruments, loans, grants or advances by SUBRECIPIENT on behalf oi'CITY. in furtherance of Ills actlivilics herunder or thereof: 5UBRECIPIEN 1's obligations and responsibilities set loth in this paragraph 'Al. REVERSION OF ASSETS," and in paragraph "XII. TLRMINATION" and other r'egtnlYmeuts peltallmlg to program income shall not be affected by the termination of this Agreement and shall survive the date of termination of this A[ncmcnl for such period of mix- as CITY and/or HUD deans necessary for Iho responsibilities, duties :old obligations to be perfonncd and complctcd to the satisfaction of CITY and H LIII. XTL TFRNTfNATTC)N A- This Ag2remenl may he icnitinatcd un Ihilty (30) days' writmi notice by e:ithcr pally. hi the event of such termination, SUBRECIPIENT shall olily be entitled to reimbursement for approved expenses incurred to the effective date of termination. R. This Agrccmcnr may be. suspender or rcrnlinarcd by MY upon five (5) days' Written rluticC fur violation by SUBRECIPTENT of Federal Laws govcrting the use of Community Dcvctoplucut Block Grant Funds. in the event of such suspension or tenuiatlon, SUBRECIPLENI shall only be. entitled to rat mbursetn alit tor' approved expenses incurred up to the effective date of suspension or termination- C. Pursuant to 2 (TR 200340, in the evcnl SLi8RLC1PIL-N I defaults by failing to fulfill all or any of its obligdtions hereunder, CITY may declare it detault and termination of this Agreement by written notice to SUBRCCIPIENT, which default and termination shall be effective on a date stated in the notice which is to be not less than ten (10) days after certified mailing of personal soivice of such noricc, unless such default is cured before the elfcctkc (late ol'terrnination stated in such notice. Tf terminated for cause, CITY shall he rChCYCd of further liability or respon5lblhty Under Ihu AgrcCnlClll, or as a rCSUlt Of lhC lutrunatton [hereof, including the payment of money, except tot payment tot approved expenses incurred tor services saristactorily and timely performed prior to the mailing or service of the notice of termination, and except for City Council 13 14 — 16 7/6/2021