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XII. PROPERTY ACCOUNTABILITY: A. The Contractor shall not purchase under this contract, any item of pro- perty with an original cost of $250.00 or more unless specifically authorized to do so in writing. B. The Contractor shall establish and administer a system to control, pro- tect, preserve, use, and maintain and dispose of any property furnished it by the Department or purchased pursuant to this agreement in accor- dance with its own property management procedures, this Department's policies governing the Texas Traffic Safety Program, and when appli- cable, Federal Property Management Standards as set forth in Attachment N to OMB Circular A-IO2, "Uniform Requirements for Assistance to State and Local Governments." This obligation continues as long as the pro- perty is retained by the Contractor, notwithstanding the expiration of this contract. C. Title to property purchased by the Contractor for use under the contract is in the Contractor, unless this Department or the Federal government has, in authorizing purchase of a specific item, reserved the right to take title. D. The Contractor must replace any property for the cost of which it claims reimbursement if that property is necessary to full operation of the project covered by this contract and is no longer available through loss, theft, accident or circumstance other than normal wear. The Contractor may provide for replacement through private insurance, self- insurance, or any other method, at its option. E. When the Contractor no longer needs property purchased pursuant to this agreement in the project or program supported by this agreement, it may use that property in its other activities or dispose of it in accor- dance with its property management procedures and, when applicable, Federal property management standards. Under certain circumstances set forth in those standards, the Contractor is required to refund monies to the Federal government upon either certain uses of, of the disposi- tion of, certain property. Any such refund must be made through the Department. XIII. RETENTION: A. The Contractor agrees to maintain books, records, documents, and other evidence pertaining to the costs and expenses of this contract (hereinafter collectively called the "records") to the extent and in such detail as is required by OMB Circular A-I02. These requirements are hereby made a part of this contract. The records will properly reflect all net costs, direct and indirect, of labor, materials, equip- ment, supplies and services, and other costs and expenses of whatever nature for which reimbursement is claimed under the provisions of this contract. (Revised 3/84) 6 of 14