Everett Gospel Mission 7/2/2021 (2)

instructions from the City. If the total aggregate fair market value of supplies is under $5,000, the Agency may retain, sell, or dispose of them with no further obligation. 3. Disposition and maintenance of property shall be in accordance with 45 CFR Parts 74 and 92. B. Purchased by the City: Title to property, equipment or supplies purchased by the City and provided to the Agency to carry out the activities of any Contract shall remain with the City. When real property, equipment or supplies are no longer needed for the purpose of carrying out any Contract, or any Contract is terminated or expired and will not be renewed, the Agency shall request disposition instructions from the City. XXVIII. RIGHT OF INSPECTION AND ACCESS The Agency shall provide access to its records, facilities, and personnel at all reasonable times in order to monitor and/or evaluate performance, compliance, and quality assurance under this Agreement or any Contract. Access and assistance shall be given to the City, any state, federal, or other funding agency, the State Auditor, and to any other person authorized by law. XXIX, TREATMENT OF ASSETS A. To secure the financial interest of the City in items purchased or developed with funds awarded through cost reimbursement under this Agreement or any Contract, the parties agree that: 1. Title shall remain in the City; and 2. Title to such nonexpendable personal property, which is purchased, developed, or acquired by the Agency and which is claimed as an acquisition cost, shall pass to and vest in the City upon delivery of such property by the Agency and shall notbe rented, loaned, or transferred without the prior express written approval of the City. B. Unless provided otherwise by agreement of the parties, if the Agency elects to capitalize and depreciate such nonexpendable personal property in lieu of claiming the acquisition cost, title to such property shall remain with the Agency. An election to capitalize and depreciate or claim acquisition cost as a direct cost shall be irrevocable and must be made at the time the asset is purchased, developed, or acquired. C. Such nonexpendable personal property shall only be used by the Agency or its Subagencies in the performance of this Agreement or any Contract, unless otherwise provided herein or approved by the City. D. As a condition precedent to reimbursement for the purchase or acquisition of Exhibit A City of Everett and Everett Gospel Mission Pallet Shelter Pilot Community Agreement Page 16 of 33