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Assign to the AGENCY, in the manner, at the times, and to the extent directed <br />by the AGENT, all of the rights, title, and interest of the CONTRACTOR under the <br />orders and subcontracts so terminated, in which case the AGENCY has the right, <br />at its discretion, to settle or pay any or all claims arising out of the termination <br />of such orders and subcontracts; <br />Settle all outstanding liabilities and all claims arising out of such termination of <br />orders and subcontracts, with the approval or ratification of the AGENT to the <br />extent AGENT may require, which approval or ratification shall be final for all <br />the purposes of this clause; <br />Transfer title to the AGENCY and deliver in the manner, at the times, and to the <br />extent directed by the AGENT any property which, if the contract had been <br />completed, would have been required to be furnished to the AGENCY; <br />Complete performance of such part of the work as shall not have been <br />terminated by the AGENT; and <br />Take such action as may be necessary, or as the AGENT may direct, for the <br />protection and preseruation of the property related to this contract, which is in <br />the possession of the CONTRACTOR and in which the AGENCY has or may <br />acquire an interest. <br />39. TREATMENT OF ASSETS <br />Title to all property furnished by the AGENCY shall remain in the AGENCY. Title <br />to all property furnished by the CONTRACTOR, for the cost of which the <br />CONTRACTOR is entitled to be reimbursed as a direct item of cost under this <br />contract, shall pass to and vest in the AGENCY upon delivery of such property by <br />the CONTRACTOR. Title to other propefty, the cost of which is reimbursable to <br />the CONTRACTOR under this contract, shall pass to and vest in the AGENCY <br />upon (i) issuance for use of such property in the performance of this contract, or <br />(ii) commencement of use of such property in the performance of this contract, <br />or (iii) reimbursement of the cost thereof by the AGENCY in whole or in part, <br />whichever first occurs. <br />Any property of the AGENCY furnished to the CONTRACTOR shall, unless <br />otherwise provided herein or approved by the AGENCY, be used only for the <br />performance of this contract. <br />c.The CONTRACTOR shall be responsible for any loss or damage to property of the <br />AGENCY that results from the negligence of the CONTRACTOR or which results <br />from the failure on the part of the CONTRACTOR to maintain and administer <br />that property in accordance with sound management practices. <br />c <br />d <br />e. <br />f <br />g <br />a <br />b. <br />OFM CONTRACT NO. K3012 Page 16 of 21.