Agmt 1999 San Leandro Shelter for Women and Children

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(ii) If Recipient is instructed to otherwise dispose of the property, Recipient shall be reimbursed by City for such costs incurred in its disposition. (iii) If disposition instructions are not issued within 120 days after reporting Recipient shall sell the property and reimburse City an amount which is computed by applying the percentage of Federal participation in the grant program to the sales proceeds. Further, the grantee shall be permitted to retain $1000 or 10 percent of the proceeds, whichever is greater, for the grantee's selling and handling expenses. (4) Where the City determines that property with an acquisition costs of $1,000 or more and financed solely with Federal funds is unique, difficult, or costly to replace, it may reserve title to such property, subject to the following provisions: (a) The property shall be appropriately identified in the grant agreement or otherwise made know to Recipient. (b) City shall issue disposition instructions within 120 days after the completion of the need for the property under the Federal grant for which it was acquired. If City fails to issue disposition instructions within 120 days, Recipient shall apply the standards of 4(a)(1), 4(a)(2)(b) and 4(a)(3)(b). b. Federally-owned nonexpendable personal property. Unless statutory authority to transfer title has been granted to an agency, title to Federally-owned property remains vested by law in the Federal Government. Upon termination of the grant or need for the property, such property shall be reported to City for further agency utilization, or if appropriate for reporting to the General Services Administration for other Federal agency utilization. Appropriate disposition instructions will be issued to the grantee after completion of Federal agency review. 5. Recipient's property management standards for nonexpendable personal property shall also include the following procedural requirements. a. Property records shall be maintained accurately and provide for: a description of the property; manufacturer's serial number or other identification number; acquisition date and cost; source of the property; 4