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i • � � <br /> . � <br /> (b) Real PropertX. 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 /> ���ith the standards of 49 C.F.R. Part 24. ' <br /> (c) Exceptional Circumstances. The Government, ho«�e��er, reserves the right to require <br /> another method of valuation to be used if determined to be in the best interests of the <br /> Go��ernment. In unusual circumstances, the Recipient may request that another reasonable <br /> method of determining fair market value be used, including but not limited to accelerated <br /> depreciation, comparable sales, or established market values. In determining whether to appro�-e � <br /> an alternate method, the Go��ernment may consider any action taken, omission made, or ' <br /> unfortunate occurrence suffered by the Recipient ���ith respect to the preservation or conservation <br /> of the ��alue of the real property, equipment, or supplies that, for any reason, have been <br /> ���ithdra��m from service. � I <br /> g. ?��isused or Dama_e�pertk. If an�� damage to Project real property, equipment, or II� <br /> supplies results from abuse or misuse that has taken place «•ith the Recipient's kno«�ledge and '� <br /> consent, the Recipient a�rees that the Go��ernment may require the Recipient to restore that real ' <br /> . property or ' <br /> equipment to its ori�inal condition or refund the ��alue of the Federal interest in the damaged <br /> propeny. <br /> h. Obli�ations After Proiect Closeout. A Recipient that is a go��ernmental entity agrees that <br /> project closeout ���ill not alter its property management obligations set forth in Section 110 of <br /> this A�reement and �9 C.F.R. 5� 18.31 and 18.32. A Recipient that is an institution of higher <br /> education or a pri��ate organization agrees that project closeout �ti�ill not alter its property <br /> manaeement obli�ations set forth in Section l 10 of this Agreement and OMB Circular A-110, <br /> Re�ised. <br /> Section l l 1. Encumbrance of Pro�ect Property. <br /> a. L''nless e�pressly authorized in �t7iting by the Go��ernment, the Recipient agrees to refrain <br /> from: <br /> ( l) E�ecuting any transfer of title, lease, lien, pledge, mortgage, encumbrance, contract, <br /> grant anticipation note, alienation, or other obligation that in any ���ay «�ould affect the Federa] <br /> interest in any Project real property or equipment; or <br /> (2) Obligating itself in any manner to any third party ���ith respect to Project real property or <br /> eGuipment. <br /> b. The Recipient agrees to refrain from taking any action or acting in a manner that ���ould <br /> adversely affect the Federal interest or impair the Recipient's continuing control over the use of <br /> Project real property or equipment. <br /> Page 14 <br />