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(i) If the grantee is instructed to ship the property <br />elsewhere, the grantee shall be reimbursed by the <br />benefiting Federal agency with an amount which is <br />computed by applying the percentage of the grantee's <br />participation in the grant program to the current fair <br />market value of the property, plus any shipping or <br />interim storage costs incurred. <br />(ii) If the grantee is instructed to otherwise dispose of the <br />property, he shall be reimbursed by the Federal grantor <br />agency for such costs incurred in its disposition. <br />(iii) If disposition instructions are not issued within 120 days <br />after reporting, the grantee shall sell the property and <br />reimburse the Federal grantor agency an amount which <br />is computed by applying the percentage of Federal <br />participation in the grant program to the sales proceeds. <br />Further, the grantee shall be permitted to retain $100 or <br />10 percent of the proceeds, whichever is greater, for the <br />grantee's selling and handling expense. <br />(4) Where the grantor agency determines that property with an <br />acquisition cost of $1,000 or more and financed solely with Federal <br />funds is unique, difÏcult, or costly to replace, it may reserve title to <br />such property, subject to the following provisions: <br />(a) The property shall be appropriately identified in the grant <br />agreement or otherwise made known to the grantee. <br />(b) The grantor agency shall issue disposition instructions within <br />120 days after the completion of the need for the property <br />under the Federal grant for which it was acquired. If the <br />grantor agency fails to issue disposition instructions within 120 <br />days, the grantee shall apply the standards of 4.a.(1), 4.a.(2)(b) <br />and 4a(3)(b). <br />b. Federally-owned nonexpendable personal property. Unless statutory <br />authority to transfer title has been granted to an agency, title to Federally- <br />owned property (property to which the Federal Government retains title <br />including excess property made available by the Federal grantor agencies to <br />grantees) remains vested by law in the Federal Government. Upon <br />Page 27 <br />Docusign Envelope ID: 33CB29C8-7F00-4973-826F-FE9B0CEAAEFB