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Page 34 of 52 <br />(3) A control system must be developed to ensure adequate safeguards to prevent loss, <br />damage, or theft of the property. Any loss, damage, or theft must be investigated. <br />(4) Adequate maintenance procedures must be developed to keep the property in good <br />condition. <br />(5) If the non -Federal entity is authorized or required to sell the property, proper sales <br />procedures must be established to ensure the highest possible return. <br />(e) Disposition. When original or replacement equipment acquired under a Federal award is <br />no longer needed for the original project or program or for other activities currently or <br />previously supported by a Federal awarding agency, except as otherwise provided in <br />Federal statutes, regulations, or Federal awarding agency disposition instructions, the <br />non -Federal entity must request disposition instructions from the Federal awarding <br />agency if required by the terms and conditions of the Federal award. Disposition of the <br />equipment will be made as follows, in accordance with Federal awarding agency <br />disposition instructions: <br />(1) Items of equipment with a current per unit fair market value of $5,000 or less may be <br />retained, sold or otherwise disposed of with no further obligation to the Federal <br />awarding agency. <br />(2) Except as provided in 200.312 Federally -owned and exempt property, paragraph (b), <br />or if the Federal awarding agency fails to provide requested disposition instructions <br />within 120 days, items of equipment with a current per -unit fair -market value in <br />excess of $5,000 may be retained by the non -Federal entity or sold. The Federal <br />awarding agency is entitled to an amount calculated by multiplying the current market <br />value or proceeds from sale by the Federal awarding agency's percentage of <br />participation in the cost of the original purchase. If the equipment is sold, the Federal <br />awarding agency may permit the non -Federal entity to deduct and retain from the <br />Federal share $500 or ten percent of the proceeds, whichever is less, for its selling <br />and handling expenses. <br />(3) The non -Federal entity may transfer title to the property to the Federal Government or <br />to an eligible third party provided that, in such cases, the non -Federal entity must be <br />entitled to compensation for its attributable percentage of the current fair market <br />value of the property. <br />(4) In cases where a non -Federal entity fails to take appropriate disposition actions, the <br />Federal awarding agency may direct the non -Federal entity to take disposition <br />actions. <br />[78 FR 78608, Dec. 26, 2013, as amended at 79 FR 75884, Dec. 19, 2014] <br />Agreement No. R18AP00081 Agreement Template <br />20 D-38 (03/2019) <br />