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GENERAL TERMS AND CONDITIONS <br /> INTERAGENCY AGREEMENT <br />FEDERAL FUNDS <br /> Page 11 <br />After receipt of a notice of termination, and except as otherwise directed by the Authorized <br />Representative, the Grantee shall: <br />A. Stop work under the Grant on the date, and to the extent specified, in the notice; <br />B. Place no further orders or subgrants/subcontracts for materials, services, or facilities except as <br />may be necessary for completion of such portion of the work under the Grant that is not terminated; <br />C. Assign to COMMERCE, in the manner, at the times, and to the extent directed by the Authorized <br />Representative, all of the rights, title, and interest of the Grantee under the orders and <br />subgrants/subcontracts so terminated, in which case COMMERCE has the right, at its discretion, <br />to settle or pay any or all claims arising out of the termination of such orders and <br />subgrants/subcontracts; <br />D. Settle all outstanding liabilities and all claims arising out of such termination of orders and <br />subcontracts, with the approval or ratification of the Authorized Representative to the extent the <br />Authorized Representative may require, which approval or ratification shall be final for all the <br />purposes of this clause; <br />E. Transfer title to COMMERCE and deliver in the manner, at the times, and to the extent directed by <br />the Authorized Representative any property which, if the Grant had been completed, would have <br />been required to be furnished to COMMERCE; <br />F. Complete performance of such part of the work as shall not have been terminated by the Authorized <br />Representative; and <br />G. Take such action as may be necessary, or as the Authorized Representative may direct, for the <br />protection and preservation of the property related to this Grant, which is in the possession of the <br />Grantee and in which the Authorized Representative has or may acquire an interest. <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 item <br />of cost under this Grant, shall pass to and vest in COMMERCE upon delivery of such property by the <br />Grantee. Title to other property, the cost of which is reimbursable to the Grantee under this Grant, shall <br />pass to and vest in COMMERCE upon (i) issuance for use of such property in the performance of this <br />Grant, or (ii) commencement of use of such property in the performance of this Grant, or (iii) <br />reimbursement of the cost thereof by COMMERCE in whole or in part, whichever first occurs. <br />A. Any property of COMMERCE furnished to the Grantee shall, unless otherwise provided herein or <br />approved by COMMERCE, be used only for the performance of this contract. <br />B. The Grantee shall be responsible for any loss or damage to property of COMMERCE that results <br />from the negligence of the Grantee or which results from the failure on the part of the Grantee to <br />maintain and administer that property in accordance with sound management practices. <br />C. If any COMMERCE property is lost, destroyed or damaged, the Grantee shall immediately notify <br />COMMERCE and shall take all reasonable steps to protect the property from further damage. <br />D. The Grantee shall surrender to COMMERCE all property of COMMERCE prior to settlement upon <br />completion, termination or cancellation of this contract <br />All reference to the Grantee under this clause shall also include Grantee’s employees, agents or <br />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 breach. <br />Any waiver shall not be construed to be a modification of the terms of this Grant unless stated to be <br />such in writing and signed by Authorized Representative of COMMERCE. <br />