Section 1151.41 - Assurances required(a) An applicant for federal financial assistance to which this part applies shall submit an assurance, on a form specified by the Chairman, that the program or activity will be operated in compliance with this part. An applicant may incorporate these assurances by reference in subsequent applications to the Endowment.(b)Duration of obligation.(1) In the case of federal financial assistance extended to provide personal property, the assurance will obligate the recipient for the period during which it retains ownership or possession of the property.(2) In all other cases the assurance will obligate the recipient for the period during which federal financial assistance is extended.(c)Covenants. Where property is purchased or improved with federal financial assistance, the recipient shall agree to include in any instrument effecting or recording any transfer of the property a covenant running with the property assuring nondiscrimination for the period during which the real property is used for a purpose for which the federal financial assistance is extended or for another purpose involving the provision of similar services or benefits.44 FR 22734, Apr. 17, 1979, as amended at 68 FR 51384 , Aug. 26, 2003