Laserfiche WebLink
PERFORMING AGENCY shall administer a program of maintenance, repair, and protection of assets under this <br />contract so as to assure their full availability and usefulness. In the event PERFORMING AGENCY is <br />indemnified, reimbursed, or otherwise compensated for any loss of, destruction of, Or damage to the assets <br />provided under this contract, it shall use the proceeds to repair or replace said assets. If any item of equipment is <br />no longer needed to perform services under the contract or becomes inoperable, PERFORMING AGENCY shall <br />request disposition instructions in writing from RECEIVING AGENCY. <br /> <br />Upon termination or expiration of applicable Attachment(s) that are not renewed, title to any remaining equipment <br />and supplies purchased from funds under this contract reverts to RECEIVING AGENCY. Title may be traasferred <br />to any other party designated by RECEIVING AGENCY. RECEIVING AGENCY may, at its option aud to the <br />extent allowed by law, transfer the reversionary interest to such property to PERFORMING AGENCY. <br /> <br />ARTICLE 22. Contracts with Subrecipients <br /> <br />PERFORMING AGENCY may enter into contracts with subrecipients unless restricted or otherwise prohibited in <br />specific Attachment(s). Prior to entering into an agreement equaling $25,000 or twenty-five percent (25%) of an <br />Attachment, whichever is greater, PERFORMING AGENCY shall obtain written approval from RECEIVING <br />AGENCY. <br /> <br />Contracts with subrecipients shall be in writing and include the following: <br /> <br /> · Name and address of alt 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) or cover <br /> a term within the beginning and ending dates of the applicable contract Attachment(s); <br /> · Records retention requirements consistent with UGMS; <br /> · Access to inspect the work and the premises on which any of the work is performed, in accordance with the <br /> Inspections Article contained in this contract; and, <br /> · Ail 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 />PERFORMING AGENCY is responsible to RECEIVING AGENCY for the performance of any subrecipient. <br />PERFORMING AGENCY shall monitor both financial and programmatic performance and maintain pertinent <br />records that shall be available for inspection by 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 AGENCY, <br /> UGMS and the applicable OMB circulars; <br /> · Subrecipients complete required audits; <br /> <br />(LGS) GENERAL PROVISIONS Page 15 11/2001 <br /> <br /> <br />