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<br />party designated by RECEIVING AGENCY. RECEIVING AGENCY may, at its option and to the extent allowed <br />by law, transfer the reversionary interest to such property to PERFORMING AGENCY. <br /> <br />ARTICLE 22. Contracts with Suhredoients <br /> <br />PERFORMING AGENCY may enter into contracts with subrecipients unless restricted or otherwise prohibited in <br />specific Attachment(s). PERFORMING AGENCY is responsible to RECEIVING AGENCY for the performance <br />of any subrecipient. <br /> <br />Contracts with subrecipients shall be in writing and must include the following: <br /> <br />. name and address of all parties; <br />. a detailed description of the services to be provided; <br />. measurable method and rate of payment and total amount of the contract; <br />. clearly defined and executable termination clause; <br />. beginning and ending dates which coincide with the dates of the applicable contract Attachment(s) <br />or cover a term within the beginning and ending dates of the applicable contract Attachment(s); <br />. access to inspect the work and the premises on which any of the work is performed, in accordance <br />with the Inspections Article contained in this contract; and <br />. all clauses required by state/federal statutes, executive orders, and their implementing regulations. <br /> <br />PERFORMING AGENCY agrees that all contracts with subrecipients containing a categorical budget shall include <br />audit requirements referenced in the Allowable Costs and Audit Requirements Article of this contract, as <br />appropriate. <br /> <br />Prior to entering into an agreement equaling $25,000 or 25% of an Attachment, whichever is greater, <br />PERFORMING AGENCY shall obtain written approval from RECEIVING AGENCY. <br /> <br />PERFORMING AGENCY shall ensure that: <br /> <br />. subrecipients are fully aware of the requirements imposed upon them by state/federal statutes and <br />regulations; <br />. subrecipients comply with all financial management requirements as defined by RECEIVING <br />AGENCY and the applicable OMB circulars; <br />. subrecipients complete required audits; <br />. an adequate tracking system is maintained to ensure timely receipt of any subrecipient's required <br />audit reports and the resolution of any findings and questioned costs cited by these reports. <br /> <br />ARTICLE 23. Contracts for Procurement <br /> <br />PERFORMING AGENCY may enter into contracts for procurement unless restricted or otherwise prohibited in <br />specific Attachment(s). PERFORMING AGENCY agrees that it shall be responsible to RECEIVING AGENCY <br />for the performance of any subcontracted activity. <br /> <br />Contracts for procurement shall be in writing and must contain the following provisions: <br /> <br />(LGS) <br /> <br />2000 GENERAL PROVISIONS Page 15 <br /> <br />4/99 <br />