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________________________________________________________________________________________________________ <br />Interagency Agreement Page 20 of 29 <br />20. TREATMENT OF ASSETS <br />Title to all property furnished by COMMERCE shall remain in COMMERCE. Title to all property <br />furnished by the Grantee, for the cost of which the Grantee is entitled to be reimbursed as a direct <br />item of cost under this Agreement, shall pass to and vest in COMMERCE upon delivery of such <br />property by the Grantee. Title to other property, the cost of which is reimbursable to the Grantee under <br />this Agreement, shall pass to and vest in COMMERCE upon (i) issuance for use of such property in <br />the performance of this Agreement, or (ii) commencement of use of such property in the performance <br />of this Agreement, or (iii) reimbursement of the cost thereof by COMMERCE in whole or in part, <br />whichever first occurs. <br />A.Any property of COMMERCE furnished to the Grantee shall, unless otherwise provided herein <br />or approved by COMMERCE, be used only for the performance of this Agreement. <br />B.The Grantee shall be responsible for any loss or damage to property of COMMERCE that <br />results from the negligence of the Grantee or which results from the failure on the part of the <br />Grantee to maintain and administer that property in accordance with sound management <br />practices. <br />C.If any COMMERCE property is lost, destroyed or damaged, the Grantee shall immediately <br />notify COMMERCE and shall take all reasonable steps to protect the property from further <br />damage. <br />D.The Grantee shall surrender to COMMERCE all property of COMMERCE prior to settlement <br />upon completion, termination or cancellation of this Agreement. <br />E.All reference to the Grantee under this clause shall also include Grantee’s employees, agents <br />or subgrantees/subcontractors. <br />21. WAIVER <br />Waiver of any default or breach shall not be deemed to be a waiver of any subsequent default or <br />breach. Any waiver shall not be construed to be a modification of the terms of this Grantee unless <br />stated to be such in writing and signed by Authorized Representative of COMMERCE. <br />Docusign Envelope ID: 5C9CDD1E-E998-4C83-AD66-A5E41B68E042Docusign Envelope ID: D434CA11-551F-4F5F-8A80-046DC3E43BC7