PARKS, RECREATION AND COMMUNITY SERVICES AGENCY (2)

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1. ltems of equipment with a current per unit fair market value of less than $5,000.00 maybe retained, sold or otherwise disposed of with no fiirther obligation to CITY, 2. Items of equipment 0 may be retained or sold and CTPY shall have market value or proceeds from the sale by CI' accordance,With 2 CFR 200.313(c)(2). D, SUBi2ECIPWNT hereby agrees, deliver, or cause any person or entity who may histmmeat of agreement executed in furtherance execute; aoknowledge: and deliver; to CITY a the SUBAECIPIENT's S't and in mraQrar XU. TERIVTINATION A current fair market per unit value of $5,000.00 or more right to an amount calculated by multiplying the current, + share of federal funds used to acquire Clio equipment, in on the demand of CITY, to execute, acknowledge and or, `anv.tsrevious ser completed to the -and such to M "XI; REVEASICN OF utg to prograri income A. This Agreement may, be, terminated on thirty (30) days' written notice by either party. In the event of such termination, SiBRECTPIE qT shall only be entitled to reimbursement for approved expenses incurred to the effective of termination. B. This Agreement maybe suspended or terminated by CITY upon five'(5) days' written notice For violation by SUBRLCIL'IENT of Federal Laws governing the use of Community Devclopment Block Grant Funds. hi the event of such suspension or termination, SUBRECIPIENT shall only be entitled to reimbursement for approved expenses incutxed up to the effective date ofsuspension or termination, C, Pursuant to 2 CFR 200340, in the event SUBRECIPI> ANT defaults by failing to fulfill all or, any of Its obligations hereunder, CITY may declare a default and termination of this Agreement by written notice to, SUBRECIPIENT, which default and termination shall he effective on a date stated in the notice which is to be-, not less than ten (10) days after certified mailing or personal service of such notice, unless such default is cured before the effective date Of termination stated in such notice. If terminated for cause, MY shall be relieved of further liability or responsibility under this Agreement, or as a result of the termination thereof, including the payment of money, except for payment for approved expenses incurred for services satisfactorily and timely performed prior to the mailing or service of the notice of termination, and except for reimbursement of (1) any payments made for setvices not subsequently performed in a timely and satisfactory manner, And (2) costs incurred by CITY in obtaining substitute pelf-ormance. D. The grant of funds under this Agreement may terminated for convenience by either the CITY or SUBRECIPIENT, in whole or in part, by setting forth the reasons for such termination, the effective date; and, in the case of portion termination, their portion to b terminated, however, if in the case of a partial 13