Agenda - 01-03-1989 - Laserfiche WebLink

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Page 8 of 13 termination of the Agreement. Section 11. tSf_.N .... P----rldlrvlaintenarlsection. The Contractor shall maintain all project equipment at a high level of cleanliness, safety, and mechanical soundness. The Department shall conduct inspections, not less than once every two (2) years, to confirm proper maintenance pursuant to this Section and use compliance in accordance with Section 11 of this Agreement. The Contractor shall maintain all records of maintenance deemed necessary and appropriate by the Department until disposition of Project equipment. Section 12. Insurance. The Contractor shall be responsible for protecting the federal and state financial interests in project equipment purchased under this Agreement throughout the useful life of the equipment. The Contractor shall provide, on an annual basis and in such manner as the Department may require, written documentation that all equipment is insured against loss in an amount equal to or greater than ninety (90%) percent of the real value of the equipment. Failure of the Contractor to provide adequate insurance shall be considered a breach of contract and, after notification by the Department, may result in termination of this Agreement. Section 13. Useful Life of Project Equipment. "Useful life" for all Project equipment shall be determined by the Department. Upon the end of the period of useful life, the Contractor may dispose of Project equipment after notifying and receiving disposition instruction from the Department. Section 14. Disposition of Project The Contractor shall dispose of all project equipment in accordance with General Statutes 143-64.1 through 143-64.5. The Contractor shall remit to the Department a proportional amount of the fair market value of the project equipment, which shall be determined on the basis of the ratio of the financial assistance, both federal and State, provided by the Department to the actual acquisition