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, <br /> any real property, equipment, or supplies financed with <br /> Federal assistance made available by this Agreement as <br /> pennitted by 49 C.F.R. § 18 .32 (g) or ONID Circular A-110, <br /> Attachment N, whichever may be applicable. The Recipient <br /> also agrees that the Government may direct the disposition of <br /> real property or equipment financed with Federal assistance <br /> funds made available under this Agreement, as set forth by • <br /> 49 C.F.R. §§ 18 .31 and 18.32 or ONID Circular A-110, <br /> Attachment N, whichever may be applicable. <br /> f. Withdrawn Propert,y. If any Project real property, <br /> equipment, or supplies are not used in transit service for <br /> the duration of their useful life as detennined by the FTA, <br /> whether by planned withdrawal, misuse or casualty loss, the <br /> Recipient agrees to notify the FTA immediately. <br /> (1) Federal Interest in Propertv. Unless otherwise <br /> approved by the Government, the Recipient agrees to remit to <br /> the Government the Federal interest in the fair market value, <br /> if any, of the real property, equipment, or supplies whose � <br /> aggregate value exceeds $5, 000. The amount of that Federal <br /> interest shall be detennined on the basis of the ratio of the <br /> Federal assistance awarded by the Government for the Project <br /> to the actual cost of the Project. <br /> (2) Fair Market Value. The following requirements apply <br /> to the calculation of fair market value: <br /> (a) Equipment and Supplies . Unless otherwise <br /> approved in writing by the FTA, the fair market value of <br /> equipment and supplies will be the value of that property at <br /> the time immediately before the occurrence that prompted the <br /> withdrawal of the equipment or supplies from transit use. <br /> The fair market value shall be calculated on straight line <br /> depreciation of the equipment or supplies, based on a useful <br /> life approved by the FTA, irrespective of the reason for <br /> withdrawal of equipment or supplies from transit use. The <br /> fair market value of equipment or supplies lost or damaged by <br /> casualty or fire will be calculated on the basis of the <br /> condition of the equipment or supplies immediately before the <br /> casualty or fire, irrespective of the extent of insurance <br /> coverage. <br /> (b) R�al Propertv. The fair market value of real <br /> property shall be determined by competent appraisal based on <br /> an appropriate date as determined by the Government <br /> consistent with the standards of 49 C.F.R. Part 24. <br /> (c) Exceptional Circumstances. The Government, <br /> however, reserves the right to require another method of <br /> Page 16 <br />