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and shall maintain all records relating to this Agreement in compliance with the Local Records <br /> Retention Act and the Act (complying in all respects as if the Contractor was in fact, the City). <br /> Contractor shall review its records promptly and produce to the City within two business days of <br /> contact from the City the required documents responsive to request under the Act. If additional time <br /> is necessary to comply with the request, the Contractor may request the City to extend the time do <br /> so,and the City will,if time and a basis for extension under the Act permits,consider such extensions. <br /> Simplified Acquisition Threshold <br /> Simplified Acquisition Threshold. Contracts for more than the simplified acquisition threshold, which <br /> is the inflation adjusted amount determined by the Civilian Agency Acquisition Council and the <br /> Defense Acquisition Regulations Council(Councils)as authorized by 41 U.S.C. §1908,or otherwise set <br /> by law, must address administrative, contractual, or legal remedies in instances where contractors <br /> violate or breach contract terms, and provide for such sanctions and penalties as appropriate. (Note <br /> that the simplified acquisition threshold determines the procurement procedures that must be <br /> employed pursuant to 2 C.F.R. §§ 200.317-200.327. The simplified acquisition threshold does not <br /> exempt a procurement from other eligibility or processes requirements that may apply. For example, <br /> Buy America's eligibility and process requirements apply to any procurement in excess of$150,000. <br /> 49 U.S.C.§5323(j)(13).) <br /> Debarment and Suspension <br /> Debarment and Suspension (Executive Orders 12549 and 12689).A covered transaction (see 2 C.F.R. <br /> §§ 180.220 and 1200.220) must not be entered into with any party listed on the governmentwide <br /> exclusions in the System for Award Management(SAM), in accordance with the OMB guidelines at 2 <br /> C.F.R. 180 that implement Executive Orders 12549 (31 U.S.C. § 6101 note, 51 Fed. Reg. 6370,) and <br /> 12689 (31 U.S.C. § 6101 note, 54 Fed. Reg. 34131), "Debarment and Suspension." SAM Exclusions <br /> contains the names of parties debarred, suspended, or otherwise excluded by agencies, as well as <br /> parties declared ineligible under statutory or regulatory authority other than Executive Order 12549. <br /> The Recipient agrees to include,and require each Third Party Participant to include,a similar provision <br /> in each lower tier covered transaction, ensuring that each lower tier Third Party Participant: (i) <br /> Complies with federal debarment and suspension requirements; and (ii) Reviews the SAM at <br /> https://www.sam.gov, if necessary to comply with U.S. DOT regulations,2 CFR Part 1200. <br /> Disadvantaged Business Enterprises <br /> This contract is subject to the requirements of Title 49, Code of Federal Regulations, Part 26, <br /> Participation by Disadvantaged Business Enterprises in Department of Transportation Financial <br /> Assistance Programs.The national goal for participation of Disadvantaged Business Enterprises(DBE) <br /> is 10%. <br /> Financial Assistance Acknowledgement <br /> Contracts resulting from procurement solicitations are subject to financial assistance agreements <br /> between the City,the Illinois Department of Transportation,and/or the United States Department of <br /> 10 <br />