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+ ,a <br /> (b) Real Propertv. The fair market value of real property shall be determined by <br /> competent appraisal based on an appropriate date as determined by the Government consistent <br /> with the standards of 49 C.F.R. Part 24. " <br /> (c) EXCeDtional Circumstances. The Government, however, reserves the right to require <br /> another method of valuation to be used if determined te�he in the best interests of the <br /> Government. In unusual circumstances, the Recipient may raquest that another reasonable <br /> method of determining fair market value be used, including but not limited to accelerated <br /> deprec�atlon, comparable sales, or established market values. In determining whether to approve <br /> an altemate method, the Go��ernment may consider any acrion taken, omission made, or <br /> unfortunate occurrence suffered by the Recipient with respect to the preservation or canservation <br /> of the value of the real property, equipment, or supplies that, for any reason,fiave been <br /> v��thdrawn from service. <br /> g. Misused or Damaged Propertv. If any damage to Project real property, equipment, or <br /> supplies results from abuse or misuse that has ta.ken place with the Recipient's lrnowledge and <br /> consent, the Recipient agrees that the Go��ernment may require the Recipient to restore that rea] <br /> property or <br /> equipment to its ariginal condition or refund the value of the Federal interest in the damaged <br /> property. <br /> h. Obligations After Project Closeout. A Recipient that is a governmental entity agrees that <br /> project closeout w�ll not alter its property management obligations set forth in Section 110 of <br /> this Agreement and 49 C.F.R. §§ 18.31 and 18.32. A Recipient that is an institution of higher <br /> education or a pri�ate organization agrees that project closeout will not alter its property <br /> management obligations set forth in Section l l 0 of this Agreement and OMB Circular A-110, <br /> Re��ised. <br /> Section l l 1. Encumbrance of Project Property. <br /> a. linless expressl}� authorized in a�riting by the Government, the Recipient agrees to refrain <br /> from: <br /> (l) Executing any transfer of title, lease, lien, pledge,mortgage, encumbrance, contract, <br /> grant anticipation note, alienation, or other obligation that in any way would affect the Federal <br /> interest in any Project real property or equipment; or <br /> (2) Obligating itself in any manner to any third party with respect to Project real property or <br /> equipment. <br /> b. The Recipient agrees to refrain from taking any action or acting in a manner that would <br /> adversely affect the Federal interest or impair the Recipient's continuing control over the use of <br /> Proj ect real property or equipment. <br /> Page 14 <br />