R89-14 AUTHORIZING AN AGREEMENT WITH THE UNITED STATES DEPARTMENT OF TRANSPORTATION FOR AN URBAN MASS TRANSPORTATION OPERATING ASSISTANCE GRANT FOR FY '89

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. _, . � � � : f. Interest. The following requirements apply to the Recipient: (1) Any interest earned on Federal funds by the Recipient mus,t be_ remitted to the Government, except as provided by the Intergovernmental Cooperation Act of 1968, 42 U.S.C. § 4213 . (2) Upon notice by the Government to the Recipient of specific amounts due the Government, the Recipient shall promptly remit any excess payment of amounts or disallowed costs to the Government (UMTA) . Interest may be assessed from the time of notice and charged for any amounts due to the Government that are not paid as set forth in the Treasury Fiscal Re irements Manual. � g. Deobligation of Funds. The Government reserves the right to deobligate unspent Federal funds prior to project closeout. Section 106. Right of the Government to Terminate. Upon written notice to the Recipient, the Government may suspend or terminate all or part of the financial assistance provided herein if the Recipient is, or has been, in violation of the terms of this Agreement, or if the Government determines that the purposes of the Act would not be adequately served by continuation of the Federal financial assistance for the Project. Any failure to make progress or other violation of the Agreement which significantly endangers substantial performance of the Project within a reasonable time shall be deemed to be a breach of the terms of this Agreement. Termination of any part of the financial assistance will not invalidate obligations properly incurred by the Recipient and concurred in by the Government (UMTA) prior to the date of termination, to the extent those obligations are noncancellable. The acceptance of a remittance by the Government of any or all Project funds previously received by the Recipient or the closing out of Federal financial participation in the Project shall not constitute a waiver of any claim that the Government may otherwise have arising out of this Agreement. Section 107 . Project Completion, Settlement, and Close-Out. Upon successful completion of the Project or upon termination by the Government, the Recipient shall, within 90 days of the completion date of the Project, submit a final Financial Status Report (Standard Form 269) , a certification or summary of Project expenses, and third party audit reports, when applicable. Any Recipient covered by OMB Circular A-102 shall undertake the necessary audits as required by OMB Circular A-128 . With respect to any Recipient not covered by OMB Circular A-102 , upon receipt of this information, the Government (UMTA) or any agency designated by the Government (UMTA) will perform a final audit of the Project to determine the allowability of costs incurred, and will make settlement of the Federal assistance for the Project as Page 8