R2002-95 AUTHORIZING AN AGREEMENT

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1 y a) Project Facilities- Unless otherwise approved in writing by the Department,the fair market value of any of the Project Facilities to be withdrawn wili be the value at the time immediately before the occurrence that prompted the withdrawai of the Project Facilities from transit use. The fair market value shail be calculated by one of the following: (1)appraised value consistent with state standards . and federal standards(49 CFR 24),(2)on a straight line depreciation of the Project Facilities,based on a useful life approved by the Department irrespective of the reason for withdrawal of Project Facilities from transit use,or(3)the actual proceeds from the public sale of such property,whichever method is approved by the Department. Any appraiser employed for such purposes shall be subject to the prior approval of the Department. The fair market value of any of the Project Facilities lost or damaged by casualty or fire will be calculated on the basis of the condition of such property immediately before the casualty or fire,iRespective of the extent of insurance coverage. b) Exceptional Circumstances- The Govemment,however,reserves the right to require another method of valuation to be used ff determined to be in the best interest of the Govemment. In unusual circumstances,the Grantee may request that the Govemment approve another reasonable method of determining fair market value be used,including but not limited to accelerated depreciation, comparable sales,or estimated market values. In determining whether to approve an altemate method,the Govemment may consider any action taken,omission made,or unfortunate occurrence - suffered by the Grantee with respect to the preservation or conservation of the value of th a particular item of property that,for any reason,has been withdrawn from service. E. Disposition of Property. After the end of its useful life,if any fixed facility(in whole or in part)or revenue service vehicle funded through this Agreement is planned to be disposed of,the Grantee shall notify the Department thereof not later than 30 days prior its planned disposition. F. Misused or Damaged Property. If damage to any of the Project Facilities results trom abuse or misuse that has taken place with the Grantee's knowledge and consent,the Grantee agrees that the Govemment may require the Grantee to restore the Project Facilities to their original condition or refund the fair market value of the Govemment interest in such damaged Project Facilities. . G. Obligations After Project Close-Out. A Grantee that is a govemmental entity agrees that project close-out will not alter its property management obligations set forth in this Agreement and as required by 49 CFR 18.31 and 18.32. _ ti. Encumbrance of Project Property. Unless expressly authorized in writing by the Govemment,the Grantee agrees to refrain from: (1) Executing any transfer of title,lease,lien,pledge,mortgage,encumbrance,contract,grant anticipation note,alienation,or other obligation that in any way would affect the Govemment interest in any of the Project Facilities;or (2) Obligating itself in any manner to any third parry which could result in an encumbrance of any of the Project Facilities. REM 10-ETHICS A. Code of Condud. (1) Personal Conflict of Interest. The Grantee shall maintain a written code or standard of conduct which shall govem the performance of its employees,officers,board members or agents engaged in the award and administration of contracts supported by federal or state funds. Such code shall provide that no employee,officer,board member,or agent of the Grantee may participate in the selection,award,or administration of a contract supported by federal or state funds if a conflict of interest,real or apparent, Stnte/Federal Capital Grant PaSe 9