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X. REVERSION OF ASSETS <br />A. Upon the expiration of this Agreement, SUBRECIPIENT shall transfer to <br />CITY any EZ funds on hand at the time of the expiration of this Agreement as well as any <br />accounts receivable attributable to the use of EZ funds. .. <br />-B. Any real property under SUBRECIPIENTs control that was_ acquired or <br />improved in whole or in part with EZ funds in excess of $25,000.00 must either be: <br />1. Used, where CITY has given written .approval, to meet one of the <br />national objectives sta#ed under federal law until five (5) years after expiration of this <br />Agreement, or for such longer period of time as determined to be appropriate by CITY; or <br />2. If not used in accordance with subparagraph A. above, <br />SUBRECIPIENT shalt pay to CITY an amount equal to the current fair market value of the <br />property less any portion of the value attributable to the expenditure of non-EZ funds for <br />acquisition of, or improvement to, the property. Such payment is program income to CITY. <br />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. Why 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 />Page 8}} of 11 <br />