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Agency Name <br />Master Agreement No. 64SantaAnaMA <br />d. For Mass Transit vehicles, this Credit [to be deducted from the then <br />remaining equipment value] shall be equivalent to the percentage of the full <br />extendable vehicle economic life cycle remaining, multiplied by the Ratio of <br />funds provided for that equipment acquisition. For real property, this same <br />funding Ratio shall be applied to the then present fair market value, as <br />determined by State, of the Project property acquired or improved under this <br />Agreement. <br />e. Such Credit due State as a refund shall not be required if Recipient <br />dedicates the proceeds of such sale or transfer exclusively to a new or <br />replacement State approved public transit purpose, which replacement facility <br />or vehicles will then also be subject to the identical use restrictions for that new <br />public purpose and the Credit ratio due State should that replacement project or <br />those replacement vehicles cease to be used for that intended described pre - <br />approved public transit purpose. <br />i. In determining the present fair market value of property for <br />purposes of calculating State's Credit under this Agreement, any real property <br />portions of the Project site contributed by Recipient shall not be included. In <br />determining State's proportionate funding participation, State's contributions to <br />third parties (other than Recipient) shall be included if those contributions are <br />incorporated into the Project. <br />ii. Once State has received the Credit as provided for above <br />because Recipient, or a sub -recipient, as applicable, has (a) ceased to utilize the <br />Project for the described intended public transportation purpose(s) for which <br />State funding was provided and State has not consented to that cessation of <br />services or (b) sold or transferred title to or control over Project to another party <br />(absent State approval for the continued transit operation of the Project by that <br />successor party under an assignment of Recipient's duties and obligations), <br />neither Recipient, subrecipient, nor any party to whom Recipient or subrecipient, <br />as applicable, has transferred said title or control shall have any further obligation <br />under this Agreement to continue operation of Project and/or Project facilities for <br />those described public transportation purposes, but may then use Project and/or <br />any of its facilities for any lawful purpose. <br />iii. To the extent that Recipient operates and maintains <br />Intermodal Transfer Stations as any integral part of Project, Recipient shall <br />maintain each station and all its appurtenances, including, but not limited to, <br />restroom facilities, in good condition and repair in accordance with high <br />standards of cleanliness (Public Utilities Code section 99317.8). Upon request of <br />State, Recipient shall also authorize State -funded bus services to use those stations <br />and appurtenances without any charge to State or the bus operator. This <br />permitted use will include the placement of signs and informational material <br />Revised as of 9/12/2024 Page 20 <br />