Res 2010-133 - Laserfiche WebLink

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(i) if any litigation, claim, or audit is started before the expiration of the three -year period, the records shall be retained until all litigation, claims, or audit findings involving the records have been resolved and final actions taken. (ii) Records for real property and equipment acquired with federal funds must be retained for three years after final disposition. (iii) When records are transferred or maintained by EDA, the three -year retention requirement is not applicable to the Recipient. Records relating to indirect cost rate computations or proposals, cost allocation plans, and any similar accounting computations on the rate at which a particular group of costs is chargeable are subject to different retention requirements. See 15 C.F.R. §§ 14.53 or 24.42, as applicable. The Recipient is responsible for monitoring any subrecipients and contractors to ensure their compliance with the records retention requirements. The Recipient must immediately notify the Project Officer in case records are not retained for the general retention periods noted above. See 13 C.F.R. § 302.14 and 15 C.F.R. §§ 14.50 -14.53 or §§ 24.40- 24.42, as applicable. 17. Termination Actions. a. Termination for Cause. if the Recipient materially fails to comply with any of the Terms and Conditions of this Award, EDA has the right to terminate for cause all or any part of its obligation hereunder, including if- (i) Any representation made by the Recipient to the Government in connection with the application for Government assistance is incorrect or incomplete in any material respect; (ii) The intent and purpose and /or the economic feasibility of the Project is changed substantially so as to affect significantly the accomplishment of the Project as intended (including an unauthorized use of property as provided in 13 C.F.R § 314.4); (iii) The Recipient has violated commitments it made in its application and supporting documents or has violated any of the Terms and Conditions of this Award; (iv) The conflicts -of- interest rules in 13 C.F.R. § 302.17 are violated; or (v) The Recipient fails to report immediately to the Government any change of authorized representative(s) acting in lieu of or on behalf of the Recipient. In addition, EDA may take one or more of the actions set out in 15 C.F.R. §§ 14.62(a) or 24.43(a), as applicable. b. Termination for Convenience. The Recipient may request at any time termination for convenience of this Award upon sending to the Grants Officer written notification in a Form acceptable to EDA setting forth the reasons for requesting the termination and the effective date of such termination. See 15 C.F.R. §§ 14.61 or 24.44, as applicable. 18. Project Closeout Procedures. After construction is completed and the Project is closed out financially. the Recipient has an ongoing responsibility to properly administer, operate. and maintain the Project for its estimated useful life (as detennined b) EDA) in accordance with its original purpose. See 13 C.F.R. § 302.12. The Recipient must comply with all Award 14