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B. The AGENCY shall be responsible for all such property, <br />including its care and maintenance. <br />C. The AGENCY shall admit the AUTHORITY's property management <br />officer to the AGENCY's premises for the purpose of marking <br />such property, as appropriate, with AUTHORITY property tags. <br />D. The AGENCY shall meet the following procedural requirements <br />for all such property: <br />1) Property records shall be maintained accurately and <br />provide for: a description of the property; <br />manufacturer's serial number or other identification <br />number; acquisition date and cost; source of the <br />property; percentage of block grant funds used in the <br />purchase of property; and location, use and condition of <br />the property. <br />2) A physical inventory of property shall be taken and the <br />results reconciled with the property records at least <br />once every two (2) years to verify the existence, <br />current utilization, and continued need for the <br />property. <br />3 <br />A control system shall be in effect to insure adequate <br />safeguards to prevent loss, damage, or theft to the <br />property. Any loss, damage, or theft of the property <br />shall be investigated and fully documented. <br />4) Adequate maintenance procedures shall be implemented to <br />keep the property in good condition. <br />7. ACQUISITION AND RELOCATION <br />A. Any acquisition of real property for any activity assisted <br />under this Agreement which occurs on or after the date of the <br />AUTHORITY's submission of its Block Grant application to <br />H.U.D. shall comply with Title III of the Federal Uniform <br />Relocation Assistance and Real Property Acquisition Policies <br />Act of 1970 (hereinafter referred to as the Uniform Act) (40 <br />U.S.C. Section 4601) and the Regulations at 24 C.F.R. Part <br />42). <br />B. Any displacement of persons, business, non - profit <br />organizations or farms occurring on or after the date of the <br />AUTHORITY's submission of its Block Grant application as the <br />result of acquisition of real property assisted under this <br />Agreement shall comply with Title II of the Uniform Act and <br />the Regulations at 24 C.F.R. Part 42. The AGENCY shall <br />comply with the regulations pertaining to costs of relocation <br />and written policies, as specified by 24 C.F.R. Section <br />570.602(c) and (d). <br />-12- <br />Page 30 <br />