R2001-90 AUTHORIZING THE FILING AND EXECUTION OF CONTRACT

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' ' 2. The Department further accepts and amends by this Agreement DONOR's grant scope in Contract# 1024 to reflect the transfer of the Project Asset(s)to the DONEE. ITEM 7 D-DONOR RELEASE 1. DONOR agrees to assign, convey, and transfer title, if any, to the Project Asset(s), at DONEE's expense, to DONEE and agrees to maintain insurance coverage effective through the transfer date. 2. For purposes of grant administration, DONOR agrees to the value and methodology used to determine the value of the Project Asset(s)which is detailed in Exhibit E. 3. DONOR agrees to send copies of all maintenance and other pertinent records associated with the Project Asset(s)to DONEE and agrees to disclose any latent material defects or alterations or modifications made to the Project Asset(s). 4. DONOR agrees to supply DONEE with copies of all pertinent grant documents affecting this transfer. ITEM 2-THE PROJECT SCOPE The Grantee agrees to the continued use of Project Asset(s) as described in the DONEE's written request on file at the DepartmenYs office. The Department agrees to define the Project as the transfer and continued use of the following Project Asset(s)generally described as: Two 1986 GMC 35' Buses--VIN—1GHYT76W7GV824776& 1GHYT76W9GV824777 ITEM 3-AMOUNT OF GRANT The Project Asset(s) were originally purchased using eighty percent (80%) Federal funds and twenty percent (20%) I state funds. The total project cost remaining is$42,000, as determined and detailed in Exhibit E. ITEM 4-APPROVED PROJECT BUDGET The Grantee shall carry out the Project in conformity with the latest Approved Project Budget (Exhibit E). The Approved Project Budget may be revised from time to time by approval authorized by Department personnel, but no Budget or revision thereof shall be effective unless and until the Department shall have approved the same in writing. ITEM 5-DOCUMENTS FORMING THIS AGREEMENT ► The Parties agree that this constitutes the entire Agree ent for the transfer of Project Asset(s)between the Parties hereto,that there are no agreements or understandings, implied or expressed,except as specifically set forth in the Agreement and that all prior arrangements and understandings in the connection are merged into and contained in this Agreement. The Parties agree that this Agreement consists of this Part,entitled"Capital Asset Transfer Agreement,"together with Exhibit A, entitled "DONOR's Written Request to Transfer Project Asset(s) (On file with the Department)," Exhibit B, entitled "DONOR's Board Resolution or Ordinance Authorizing Transfer And Agreement", "Exhibit C, entitled "DONEE's Written Request to Receive Transfer Project Asset(s) (On file with the Department)," Exhibit D, entitled DONEE's Board Resolution or Ordinance Authorizing Transfer And Agreement," Exhibit E, entitled DONEE's Approved Project Budget (Transferred Project Asset(s) & Fair Market Value)," Exhibit F, entitled "IDOT & FTA Assistance Programs Certifications 8 Assurances By DONEE," all of which are by this reference specifically incorporated herein. Asset Transfer Agreement page 6