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Contract # <br />(Contractor) <br />3. BienniaNy, a physloal Inventory of equipment shall betaken and results compared to <br />acoounling and fixed asset records. Any discrepantly shall Immediately be brought to <br />the attention of management and the governing board. <br />4. A control system shalt be In place to ensure adequate safeguards to prevent loss, <br />damage, or theft of equipment and shall provide for full documentation and <br />Investigation of any loss or theft. <br />5. Adequate maintenance procedures shalt be Implemented to ensure that equipment Is <br />maintained In good condition. <br />8. Procedures shall be Implemented which ensure that adequate Insurance coverage is <br />maintained on all equipment. A review of coverage amounts shall pe conducted on a <br />periodic basis, preferably at least annually. <br />D, The Contractor shall ensure all subcontractors are notified of their responsibility to comply with <br />the equipment conditions specified in this section. <br />Dimes cl iios> F- i 1 <br />