Common use of Nonexpendable Property Clause in Contracts

Nonexpendable Property. Nonexpendable property means leased or purchased tangible personal property, included, but not limited to a vehicle, office equipment, etc. having a useful life of more than one (1) year and an acquisition cost of $5,000 or more per unit. Nonexpendable property shall also include, but not limited to, real property, and any interest in real property (including any mortgage or other encumbrance of real property), and funds derived from the sale or disposition of nonexpendable property. Any utilization of funds derived from the sale or disposition of nonexpendable property must have prior approval of the County and otherwise comply with all applicable laws and regulations. In case of the Contract's termination, the County reserves the right to determine the final disposition of said nonexpendable property acquired for this project with HPRP funds, including funds derived therefrom. Said disposition may include taking possession of said nonexpendable property. The Operating Agency shall maintain up-to-date property records, listing all non- expendable property items for which they are responsible. The following items should be included in the list: description of property, serial or ID number, source of funds that purchased the item (including the award number), property title holder, date of purchase, cost, percentage of Federal participation in the cost of the property, location, condition and use of property, and date of disposal and sale price or method used to determine the current market value. The Operating Agency shall conduct a physical inventory of the nonexpendable property at least once a year, reconcile the inventory with its property records and maintain these records for five years (5) after the expiration or termination of this contract. In the event there is a change of use or disposition, of the property during the term of the contract, except in the case of real property in excess of $25,000, if the market value of the property is over $5,000, the Operating Agency shall immediately pay the County the HPRP pro-rata share of the current market value of the property, or proceeds from the sale. The pro-rata share shall be calculated by multiplying the current market value by the percentage of the purchase price paid with HPRP funds or program income. If there is a residual inventory of unused supplies, upon termination or completion of the project or termination or expiration of this Contract, with a then current aggregate market value exceeding $5,000, and if the supplies are not needed for any other federally sponsored program(s) or project(s), the Operating Agency shall immediately pay the County for its HPRP pro-rata share. The Operating Agency shall obtain prior approval of the County and otherwise comply with all applicable laws and regulations, prior to utilizing the supplies for another federally sponsored program(s) or project(s).

Nonexpendable Property. Nonexpendable property means leased or and purchased tangible personal property, included, but not limited to a vehicle, such as office equipment, etc. having a useful life of more than one (1) year and and/or an acquisition cost of $5,000 or more per unit. Nonexpendable property shall also include, but not be limited to, to real property, and any interest in real property (including any mortgage or other encumbrance of real property), and funds derived from the sale or disposition of nonexpendable property. Any utilization of funds derived from the sale or disposition of nonexpendable property must have prior approval of the County LACDA and otherwise comply with all applicable laws and regulations. In case of the Contract's terminationevent the Contract is terminated or expires, the County LACDA reserves the right to determine the final disposition of said nonexpendable property acquired for this project with HPRP BFH funds, including funds derived therefromthere from. Said disposition may include taking possession of said nonexpendable property. The Operating Agency shall maintain up-to-date property records, listing all non- expendable property items for which they are responsiblepurchased with an acquisition cost of $5,000 or more that it has leased or purchased during the term of this Contract. The following items should be included in the list: description of property, serial or ID number, source of funds that purchased the item (including the award contract number), property title holderowner of property, date of purchase, cost, percentage of Federal participation in the cost of the propertypaid with BFH monies, location, condition and use of property, and date of disposal disposal, and sale price or method used to determine the current market value. The Operating Agency shall conduct a physical inventory of the nonexpendable property at least once a year, reconcile the inventory with its property records and maintain these records for five years (5) years after the termination or expiration or termination of this contract. In the event there is a change of use or disposition, of the property during the term of the contract, except in the case of real property in excess of $25,000, if the market value of the property is over $5,000, the Operating Agency shall immediately pay the County the HPRP pro-rata share of the current market value of the property, or proceeds from the sale. The pro-rata share shall be calculated by multiplying the current market value by the percentage of the purchase price paid with HPRP funds or program incomeContract. If there is a residual inventory of unused supplies, upon termination or completion of the project or termination or expiration of this Contract, with a then current aggregate market value exceeding $5,000, 5,000 and if the supplies are not needed for any other federally LACDA sponsored program(s) or project(s), the Operating Agency shall immediately pay the County LACDA for its HPRP pro-pro rata shareshare of the then current aggregate market value or proceeds from the sale calculated at the percentage of the purchase price paid with BFH funds. The Operating Agency shall obtain prior approval of the County LACDA and otherwise comply with all applicable laws and regulations, regulations prior to utilizing the supplies for another federally any other LACDA sponsored program(s) or project(s).

Nonexpendable Property. Nonexpendable property means leased or purchased tangible personal property, includedincluding, but not limited to to, a vehicle, office equipment, etc. having a useful life of more than one (1) year and an acquisition cost of $5,000 or more per unit. Nonexpendable property shall also include, but not be limited to, real property, and any interest in real property (including any mortgage or other encumbrance of real property), and funds derived from the sale or disposition of nonexpendable property. Any utilization of funds derived from the sale or disposition of nonexpendable property must have prior approval of the County and otherwise comply with all applicable laws and regulations. In case of the Contract's terminationevent that the Contract is terminated or expires, the County reserves the right to determine the final disposition of said nonexpendable property acquired for this project with HPRP CDBG funds, including funds derived therefromthere from. Said disposition may include taking possession of said nonexpendable property. The Operating Agency shall maintain up-to-date property inventory records, listing all non- expendable property items for which they are responsiblepurchased with an acquisition cost of $5,000 or more that it has leased or purchased during the term of this Contract. The following items should be included in the list: description of property, serial or ID number, source of funds that purchased the item (item, including the award numberFederal Award Identification Number (XXXX), property title holderwhich is B-18-UC-06-0505, owner of the property, date of purchase, total cost, percentage of cost paid with CDBG and/or other Federal participation in the cost of the propertymonies, location, condition and use of property, and date of disposal and disposal, sale price or method used to determine the current market value, name of the individual completing the inventory, and the date the inventory was taken or updated. The Operating Agency shall conduct a physical inventory of the nonexpendable property at least once a year, reconcile the inventory with its property records records, and maintain these records for five years (5) after the termination or expiration or termination of this contractContract. In the event there is a change of use or disposition, disposition of the property during the term of the contract, except in the case of real property in excess of $25,000, if the market value of the property is over $5,000, the Operating Agency shall immediately pay to the County the HPRP a pro-rata share of the current market value of the property, or proceeds from the sale. The pro-rata share shall be calculated by multiplying the current market value by the percentage of the purchase price paid with HPRP CDBG funds or program income. If there is a residual inventory of unused supplies, upon termination or completion of the project or termination or expiration of this Contract, with a then current aggregate market value exceeding $5,000, and if the supplies are not needed for any other federally Federally sponsored program(s) or project(s), the Operating Agency shall immediately pay the County for its HPRP pro-pro rata shareshare of the current aggregate market value or proceeds from the sale calculated at the percentage of the purchase price paid with CDBG funds. The Operating Agency shall obtain prior approval of the County and otherwise comply with all applicable laws and regulations, regulations prior to utilizing the supplies for another federally any other Federally-sponsored program(s) or project(s).

Nonexpendable Property. Nonexpendable property means leased or and purchased tangible personal property, included, but not limited to a vehicle, such as office equipment, etc. having a useful life of more than one (1) year and and/or an acquisition cost of $5,000 or more per unit. Nonexpendable property shall also include, but not be limited to, to real property, and any interest in real property (including any mortgage or other encumbrance of real property), and funds derived from the sale or disposition of nonexpendable property. Any utilization of funds derived from the sale or disposition of nonexpendable property must have prior approval of the County and otherwise comply with all applicable laws and regulations. In case of the Contract's terminationevent the Contract is terminated or expires, the County reserves the right to determine the final disposition of said nonexpendable property acquired for this project with HPRP FRHS funds, including funds derived therefromthere from. Said disposition may include taking possession of said nonexpendable property. The Operating Agency shall maintain up-to-date property records, listing all non- expendable property items for which they are responsiblepurchased with an acquisition cost of $5,000 or more that it has leased or purchased during the term of this Contract. The following items should be included in the list: description of property, serial or ID number, source of funds that purchased the item (including the award contract number), property title holderowner of property, date of purchase, cost, percentage of Federal participation in the cost of the propertypaid with FRHS monies, location, condition and use of property, and date of disposal disposal, and sale price or method used to determine the current market value. The Operating Agency shall conduct a physical inventory of the nonexpendable property at least once a year, reconcile the inventory with its property records and maintain these records for five years (5) [O1]years after the termination or expiration or termination of this contractContract. In the event there is a change of use or disposition, disposition of the property during the term of the contract, except in the case of real property in excess of $25,000, if the market value of the property is over $5,000, the Operating Agency shall immediately pay to the County the HPRP a pro-rata share of the then current market value of the property, or proceeds from the sale. The pro-rata share shall be calculated by multiplying the then current market value by the percentage of the purchase price paid with HPRP FRHS funds or program income. If there is a residual inventory of unused supplies, upon termination or completion of the project or termination or expiration of this Contract, with a then current aggregate market value exceeding $5,000, 5,000 and if the supplies are not needed for any other federally County sponsored program(s) or project(s), the Operating Agency shall immediately pay the County for its HPRP pro-pro rata shareshare of the then current aggregate market value or proceeds from the sale calculated at the percentage of the purchase price paid with FRHS funds. The Operating Agency shall obtain prior approval of the County and otherwise comply with all applicable laws and regulations, regulations prior to utilizing the supplies for another federally any other County sponsored program(s) or project(s).

Nonexpendable Property. Nonexpendable property means leased or and purchased tangible personal property, included, but not limited to a vehicle, such as office equipment, etc. having a useful life of more than one (1) year and and/or an acquisition cost of $5,000 or more per unit. Nonexpendable property shall also include, but not be limited to, to real property, and any interest in real property (including any mortgage or other encumbrance of real property), and funds derived from the sale or disposition of nonexpendable property. Any utilization of funds derived from the sale or disposition of nonexpendable property must have prior approval of the County and otherwise comply with all applicable laws and regulations. In case of the Contract's terminationevent the Contract is terminated or expires, the County reserves the right to determine the final disposition of said nonexpendable property acquired for this project with HPRP FRHS funds, including funds derived therefromthere from. Said disposition may include taking possession of said nonexpendable property. The Operating Agency shall maintain up-to-date property records, listing all non- expendable property items for which they are responsiblepurchased with an acquisition cost of $5,000 or more that it has leased or purchased during the term of this Contract. The following items should be included in the list: description of property, serial or ID number, source of funds that purchased the item (including the award contract number), property title holderowner of property, date of purchase, cost, percentage of Federal participation in the cost of the propertypaid with FRHS monies, location, condition and use of property, and date of disposal disposal, and sale price or method used to determine the current market value. The Operating Agency shall conduct a physical inventory of the nonexpendable property at least once a year, reconcile the inventory with its property records and maintain these records for five years (5) years after the termination or expiration or termination of this contractContract. In the event there is a change of use or disposition, disposition of the property during the term of the contract, except in the case of real property in excess of $25,000, if the market value of the property is over $5,000, the Operating Agency shall immediately pay to the County the HPRP a pro-rata share of the then current market value of the property, or proceeds from the sale. The pro-rata share shall be calculated by multiplying the then current market value by the percentage of the purchase price paid with HPRP FRHS funds or program income. If there is a residual inventory of unused supplies, upon termination or completion of the project or termination or expiration of this Contract, with a then current aggregate market value exceeding $5,000, 5,000 and if the supplies are not needed for any other federally County sponsored program(s) or project(s), the Operating Agency shall immediately pay the County for its HPRP pro-pro rata shareshare of the then current aggregate market value or proceeds from the sale calculated at the percentage of the purchase price paid with FRHS funds. The Operating Agency shall obtain prior approval of the County and otherwise comply with all applicable laws and regulations, regulations prior to utilizing the supplies for another federally any other County sponsored program(s) or project(s).