R94-65 AUTHORIZING THE FILING OF A FINAL APPLICATION FOR A MASS TRANSPORTATION CAPITAL IMPROVEMENT GRANT

Home Browse Search

. ; . f. Excess Pavments, Disallo"�ed Costs and Claims (Including Interest�. (1) Upon notice by the Go��ernment to the Recipient of specific amounts due, the Recipient agrees to remit to the Go��ernment promptly any excess payment of amounts, disallowed costs, or claims, including any interest due thereon. (2) The Recipient agrees that it „�ill pay interest as assessed by FTA on excess payments, disallo��ed costs, or claims arisin in connection ��ith th P ' � • g e ro�ect as follov�s. � � (a) A Recipient that is a state, state instrumentality, or unit of general local government agrees that FTA may impose common ]a«�prejudgment interest on the Recipient's underlying debt. b A Reci ient � ( ) p other than a state, state instrumentalit , or a unit or local o�ernment Y � agrees that interest on the underl��ing debt ��ill be calculated in accordance ��ith the Debt Collection Act of 1982, as amended, 3l U.S.C. � 3717. s�. De-obli�ation of Funds. The Go��ernment reser��es the right to de-obligate unexpended Federal funds prior to Project closeout. Section ]08. Ri�ht of the Go��ernment to Terminate. lipon ��ritten notice, the Recipient agrees that the Go��ernment may suspend or terminate all or part of the financial assistance pro��ided herein if the Recipient has violated the terms of this As�reement, or if the Go��ernment determines that the purposes of the statute under ��hich the Project is authorized �ti•ould not be adequately served by continuation of Federal financial assistance for the Project. Any failure to make reasonable progress on the Project or other ��iolation of the Agreement that significantly endangers substantial performance of the Project shall pro�•ide suf�cient grounds for the Go��ernment to terminate this Agreement. In general, termination of any financial assistance under this Agreement will not invalidate obligations properly incurred by the Recipient and concurred in by the Government before the termination date, to the extent those obligations cannot be canceled. Ho«�ever, if the ' Go��ernment determines that th R i ' t � �' e ec pien has ��llfully misused Federal assistance funds by failing to make adequate progress, failing to make reasonable use of the Project real property, �� facilities, or equipment, or failing to adhere to the terms of this Agreement, the Government reserves the right to require the Recipient to refund the entire amount of Federal funds provided under this Agreement or any lesser amount as may be determined by the Government. Ezpiration of any Project Time Period established for this Project does not, by itself, constitute an expiration or termination of this Agreement. Section 109. Project Completion, Audit. Settlement, and Closeout. Page l 1