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<br />Attachment C <br />Payment and Fiscal Management <br /> <br />include adequate safeguards to prevent loss, damage, or theft of the acquired <br />property. Contractor shall develop and carry out a program of property <br />maintenance as necessary to keep both originally acquired and any replaced <br />property in good condition, and to utilize proper sales procedures to ensure <br />the highest possible return, in the event such equipment or property is sold. <br />All property acquired or replaced under this Agreement shall be used by <br />Contractor to support the purposes of this Agreement, for as long as the <br />equipment or facilities are needed for such purposes, whether or not the <br />original projects or programs continue to be supported by State funds. <br />For property with a current fair market, per-unit value of five thousand <br />dollars ($5,000) or less, Contractor may for the purpose of replacing the <br />property acquired under this Agreement, either trade in or sell the property <br />and use the proceeds of such trade-in or sale to offset the cost of acquiring <br />needed replacement property. <br />For property with a current fair market, per-unit value in excess of five <br />thousand dollars ($5,000), Contractor shall, for the purpose of replacing the <br />property acquired under this Agreement within six years of the initiation date <br />of this Agreement, obtain written authorization from the A TCOO prior to <br />trading in or selling the property and using the proceeds of such trade-in or <br />sale to offset the cost of acquiring needed replacement property. <br />Property with a current fair market, per-unit value of five thousand dollars <br />($5,000) or less, if no longer needed for the support of the authorized projects <br />or programs under this Agreement, whether original or replacement, may be <br />used in support of other activities currently or previously supported by <br />ATCOO or alternatively, may be made available for use on other projects or <br />programs, providing such other use will not interfere with the work on those <br />projects or programs for which such equipment or facilities were originally <br />acquired or constructed. <br /> <br />(ii) For property with a current fair market, per-unit value in excess if five <br />thousand dollars ($5,000), if no longer needed for support of the authorized <br />projects or programs under this Agreement, whether original or replacement, <br />and within six years of the initiation date of this Agreement, Contractor shall <br />obtain written authorization from A rcoo prior to changing the use of the <br />property, to include selling or transferring ownership of the property. In <br />requesting authorization for a change of use of the property, Contractor shall <br />provide information as requested by A TCOO, to include information to <br />assure that the new use of the property will adhere to the requirements of <br /> <br />Page 16 of 50 <br />