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12 <br /> C. The GRANTEE shall admit the AUTHORITY's property management officer to the <br />GRANTEE's premises for the purpose of marking such property, as appropriate, with <br />AUTHORITY property tags. <br /> <br /> D. The GRANTEE shall meet the following procedural requirements for all such <br />property: <br /> <br /> 1) Property records shall be maintained accurately and provide for: a description <br />of the property; manufacturer's serial number or other identification number; <br />acquisition date and cost; source of the property; percentage of block grant <br />funds used in the purchase of property; and location, use and condition of the <br />property. <br /> <br /> 2) A physical inventory of property shall be taken and the results reconciled with <br />the property records at least once every two (2) years to verify the existence, <br />current utilization, and continued need for the property. <br /> <br /> 3) A control system shall be in effect to insure adequate safeguards to prevent <br />loss, damage, or theft to the property. Any loss, damage, or theft of the <br />property shall be investigated and fully documented. <br /> <br /> 4) Adequate maintenance procedures shall be implemented to keep the property in <br />good condition. <br /> <br />7. ACQUISITION AND RELOCATION <br /> <br /> A. Any acquisition of real property for any activity assisted under this Agreement which <br />occurs on or after the date of the AUTHORITY's submission of its Block Grant <br />application to H.U.D. shall comply with Federal Uniform Relocation Assistance and <br />Real Property Acquisition Policies Act, Title III, 42 U.S.C. §§ 4601-4655 (Uniform <br />Act) and the Regulations at 49 C.F.R., pt. 24. <br /> <br /> B. Any displacement of persons, business, non-profit organizations or farms occurring <br />on or after the date of the AUTHORITY's submission of its Block Grant application <br />as the result of acquisition of real property assisted under this Agreement shall <br />comply with Title II of the Uniform Act and the Regulations at 49 C.F.R., pt. 24. The <br />GRANTEE shall comply with the regulations pertaining to costs of relocation and <br />written policies, as specified by 24 C.F.R. § 570.606. <br /> <br />8. HISTORIC PRESERVATION <br /> <br /> The GRANTEE shall meet the historic preservation requirements of the National Historic <br />Preservation Act, 16 U.S.C. §§ 470-470x-6 and the Archaeological and Historic <br />Preservation Act, 16 U.S.C. §§ 469-469c-1 and Executive Order 11593, including the <br />procedures prescribed by the Advisory Council on Historic Preservation at 36 C.F.R., pt. <br />800.