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SUBAWARD NO.002 <br /> to the following: <br /> (a) Equipment records,, FAIN TX-2024-054-00 that include: a description of the <br /> equipment; a serial number or other identification number; the source ofequipment; who <br /> holds title; the acquisition date and cost of the equipment; percentage of Federal <br /> participation in the cost of the eqUipillent;the location, use and condition of the equipment; <br /> maintenance history for each vehicle; and ultimate disposition data including the date of <br /> disposal and sale price. <br /> (b) Conducting a physical inventory of the equipment at least once every two <br /> (2)years and reconciling the inventory with equipment records described in the preceding <br /> paragraph, <br /> (c) Developing a control system to ensure adequate safeguards to prevent loss, <br /> damage, or theft of the equipment. Any loss, damage,or theft shall be investigated. <br /> (d) Developing and following procedures to keep the equipment Maintained <br /> and in good condition. At a minimum,Sub-Recipient shall follow the vehicle Maintenance <br /> schedule recommended by the manufacturer, showing the date the maintenance was <br /> performed. Maintenance records shall be provided to City upon request, <br /> (c) Requesting disposition instructions from City, and if authorized to sell the <br /> equipment, using proper sales procedures to ensure the highest possible return. <br /> 7.4 Sub-Recipient shall comply with all applicable law including but not limited to <br /> FTA Circular 5010,IF, Award Management Requirements and Title 43, Texas Administrative <br /> Code§3 1,53 and§31.55,to protect the public investment in real property and equipment purchased <br /> in whole or in part with Federal or State Funds. <br /> 7.5 In the event pro.ject equipment is not used in the proper manner or is withdrawn <br /> from public transportation services, Sub-Recipient shall immediately notify City. Both Parties <br /> shall work together to reassign or dispose of said equipment. <br /> 7.6 All vehicles purchased under this Agreement shall comply with the Motor Vehicle <br /> Safety Standards established by the US Department of Transportation and State law. <br /> 7.7 irrespective of coverage by insurance, unless otherwise approved in writing by <br /> City, in the event of loss or damage to proJect property,whether by casualty or fire,the fair market <br /> value will be the value of the property immediately before the casualty or fire. <br /> 7.8 Sub-Recipient shall notify City, in writing, immediately of theft, wreck, vandalism <br /> or other destruction of proJect-rclated facilities or eqUipIllent, which Written notice shall COnfOrIn <br /> with those standards specified oil NTD S&S 40 and 50. <br /> 7.9 All titled assets shall list and record Sub-Recipient as tile titled holder of' said <br /> assents To the extent said assets Were pL11'Cfl8SCd with or by the use ofTDCs,the Parties understand <br /> Page I I of 30 <br />