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Section 12.24 Property Inventory and Protection of Assets. Contractor shall maintain a nonexpendable personal property (equipment and controlled assets) inventory and submit an annual cumulative report to the DeEartment's Contract Oversight and Support Section, Mail Code 1326, 1100 W. 49 St., Austin, Texas 78756, no later than October 15th of each year. The form for this report (Form GC- 11) is located on the DSHS website at htto://www.dshs.state.tx.us/contracts/forms.shtm. Contractor shall administer a program of maintenance, repair, and protection of assets under this Contract so as to assure their full availability and usefulness. In the event Contractor is indemnified, reimbursed, or otherwise compensated for any loss of, destruction of, or damage to the assets provided under this Contract, it shall use the proceeds to repair or replace said assets. Section 12.25 Bankruptcy. In the event of bankruptcy, Contractor shall sever Department property, equipment, and supplies in possession of Contractor from the bankruptcy, and title shall revert to Department. Section 12.26 Title to Property. At the conclusion of the contractual relationship between the Department and the Contractor, for any reason, title to any remaining equipment and supplies purchased from funds under this Contract reverts to Department. Title may be transferred to any other party designated by Department. The Department may, at its option and to the extent allowed by law, transfer the reversionary interest to such property to Contractor. Section 12.27 Property Acquisitions. Department funds may not be used to purchase buildings or real property. Any costs related to the initial acquisition of the buildings or real property is not allowable. Section 12.28 Disposition of Property. Contractor shall follow the procedures in the American Hospital Association's (AHA's) "Estimated Useful Lives of Depreciable Hospital Assets" in disposing, at any time during or after the Contract term, of equipment or controlled assets purchased with the Department funds, except when federal or state statutory requirements supersedes, or when the equipment requires licensure or registration by the state, or when the acquisition price of the equipment or controlled asset is equal to or greater than $10,000. All other equipment and controlled assets not listed in the AHA reference (other than equipment that requires licensure or registration or that has an acquisition cost equal to or greater than $10,000) shall be controlled by the requirements of UGM. If, prior to the end of the useful life, any item of equipment is no longer needed to perform services under this Contract, or becomes inoperable, or if the equipment requires licensure or registration or had an acquisition price equal to or greater than $10,000, Contractor shall request disposition approval and instructions in writing from the D~artment's Contract Oversight and Support Section, Mail Code 1326, 1100 W. 49 St., Austin, Texas 78756. After an item reaches the end of its useful life, Contractor must ensure that disposition of any equipment is in accordance with Generally Accepted Accounting Principles, and any applicable federal guidance. General Provisions (Core Subrecipient 2008) 6/12/2007 24