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HANDS TOGETHER, CENTER FOR CHILDREN
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HANDS TOGETHER, CENTER FOR CHILDREN
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Last modified
9/5/2024 9:29:15 AM
Creation date
9/4/2024 3:32:19 PM
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Contracts
Company Name
HANDS TOGETHER, CENTER FOR CHILDREN
Contract #
A-1999-127A
Agency
Community Development
Destruction Year
2004
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C. Subject to the obligations set forth herein, title to equipment acquired under <br />the terms of this Agreement will vest upon acquisition in SUBRECIPIENT. When said <br />equipment which has been acquired in accordance with this Agreement and all applicable <br />regulations is no longer needed for said program, disposition of said equipment will be <br />made as follows: <br />1. Items of equipment with a current per unit fair market value of less <br />than $5,000.00 may be retained, sold or otherwise disposed of with no further obligation to <br />CITY. <br />2. Items of equipment with a current fair market per unit value of <br />$5,000.00 or more may be retained or sold and CITY shall have the right to an amount <br />calculated by multiplying the current market value or proceeds from the sale by CITY's <br />share of federal funds used to. acquire the equipment. <br />D. SUBRECIPIENT hereby agrees, upon the demand of CITY, to execute, <br />acknowledge and deliver, or cause any person or entity who may have any claim to rights <br />hereunder or under any document, instrument or agreement executed in furtherance of the <br />services and activities to be performed hereunder, to execute, acknowledge and deliver, to <br />CITY assignment(s), quit claim deed(s) or such other and further instruments, documents <br />and agreements as may be necessary, in the sole and absolute discretion of CITY, to vest <br />in CITY all of SUBRECIPIENT's right, title and interest (if any it may have) in and to CITY, <br />EZ or other federal, state and/or local accounts or program funds or allocation of funds to <br />which CITY is or may be entitled, either for its own account or as fiduciary or trustee for <br />others, which were obtained for the purpose of the performance of this Agreement or any <br />previous agreements relating to the same subject matter or activities as this Agreement, <br />together with any instruments, loans, grants or advances by SUBRECIPIENT on behalf of <br />CITY, in furtherance of the activities hereunder or thereof. <br />SUBRECIPIENT's obligations and responsibilities set forth in this paragraph <br />"XI. REVERSION OF ASSETS," and in paragraphs "XII. TERMINATION" and <br />"III. P shall not be affected by the termination of this Agreement and <br />shall survive the date of termination of this Agreement for such period of time as CITY <br />and/or HUD deems necessary for the responsibilities, duties and obligations to be <br />performed and completed to the satisfaction of CITY and HUD. <br />XII. TERMINATION <br />A. This Agreement may be terminated on thirty (30) days' written notice by <br />either party. In the event of such termination, SUBRECIPIENT shall only be entitled to <br />reimbursement for approved expenses incurred to the effective date of termination. <br />Page 10 of 13 <br />
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