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<br /> __ ___ - - ___m____ ------ --- <br /> ". <br /> -7- I <br /> contract to be let using grant funds. <br /> -I <br /> 7.07 Acknowledgment. The Grantee shall appropriately acknowledge the grant <br /> assistance made by the Council in any promotional materials, reports, and publications <br /> relating to the Grant Study. I <br /> 7.08 Compliance with Law. The Grantee agrees to conduct the Grant Study in <br /> compliance with all applicable provisions of Federal, state, and local laws. I <br /> 7.09 Permits and Approvals, The Grantee is responsible for obtaining all local <br /> and state permits, licenses, and authorizations necessary for the Grant Study. I <br /> 7.10 Personal Property Management. Title to all personal property acquired with <br /> grant or matching funds shall remain with the Grantee during the Grant Period. I <br /> Accordingly, the Grantee shall take reasonable measures to protect and defend its title <br /> interest and shall keep the personal property free and clear of any liens, encumbrances, <br /> or other claims. The Grantee must maintain property records that include, at a I <br /> minimum, a description of the property, a serial or other identification number, the <br /> acquisition date and cost, and the location, use, and condition of the property. In the <br /> final report required by paragraph 5.04, the Grantee shall include a list of all personal I <br /> property acquired with grant and matching funds which was not expended in <br /> performance of the Grant Study. At the end of the Grant Period, the Grantee agrees to <br /> transfer title to all personal property acquired in whole or in part with grant funds to the .. <br /> Council, at the Council's option, at no charge. The Council reserves the right to direct <br /> appropriate disposition of all personal property, acquired in whole or in part with grant <br /> funds, which has not been expended in performance of the Grant Study. I <br /> During the Grant Period, the Grantee bears the risk of loss of, damage to, or destruction <br /> of any personal property acquired with grant or matching funds. No such loss, damage, . <br /> or destruction shall relieve the Grantee of its obligations under this agreement. The <br /> Grantee agrees to maintain personal property acquired with grant or matching funds in I <br /> good operating order. If, during the Project Activity Period, any Grant Study personal <br /> property is not used in performing the Grant Study, whether by planned withdrawal, <br /> misuse, or casualty loss, the Grantee shall immediately notify the Council's authorized I <br /> agent. Unless otherwise approved by the Council's authorized agent, the Grantee shall <br /> remit to the Council a proportional amount of the fair market value of the item(s), if <br /> any, determined on the basis of the proportion of Council grant funds used to acquire I <br /> the item(s). <br /> 7.11 Effect of Grant Study Closeout. The Grantee agrees that Grant Study I <br /> closeout does not invalidate continuing obligations imposed on the Grantee by this <br /> agreement. Grant Study closeout does not alter the Council's authority to disallow costs <br /> and recover funds on the basis of a later audit or other review, and does not alter the I <br /> Grantee's obligation to return any funds due to the Council as a result of later refunds, <br /> corrections, or other transactions. .. <br /> I <br />