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The Subrecipient further agrees to comply with these "Section 3" <br /> requirements and to include the following language in all subcontracts executed undec this <br /> Agreement: <br /> "The work to be performed under this contract is <br /> a project assisted under a program providing <br /> direct federal financial assistance from HUD and <br /> is subject to the requirements of Section 3 of <br /> the Housing and Urban Development Act of 1968, <br /> as amended, 12 U.S.C. 1701. Section 3 requires <br /> that to the greatest extent feasible, opportun- <br /> ities for training and employment be given to <br /> lower income residents of the project area and <br /> contracts for work in connection with the <br /> pr�ject be awarded to business concems which <br /> aze located in, or owned in substantial part <br /> by persons residing in the azeas of the project." <br /> The Subrecipient certifies and agrees that no contractual or other <br /> disability exists which would prevent compliance with the requirements. �_ <br /> b. S�bcontracts <br /> The Subrecipient will include this Section 3 clause in every subcontract <br /> and will take appropriate action pursuant to the subcontract upon a finding that the <br /> subSubrecipient is in violation of re ulations issued <br />, b the G <br /> g y rantor Agency. The Subreci ient <br /> P <br /> will not subcontract with any subSubrecipient where it has notice or knowledge that the latter <br /> has been found in violation of regulations under 24 CFR 135 and will not let subcontract unless <br /> the subSubreci ient has fir <br /> p st provided it with a preliminary statement of ability to comply with <br /> the requirements of these re ulations. <br /> L <br /> D. Conduct <br /> 1. Assignabiiitv <br /> The Subrecipient shall not assign or transfer any inter- <br /> est in this contract without the prior written consent <br /> of the City thereto; provided, however, that claims for <br /> money due or to become due to the Subrecipient from the <br /> City under this contract may be assigned to a bank, <br /> trust company, or other financial institution without such appmval. <br /> Notice of any such assignment or transfer shall be furnished <br /> promptly to the City. <br /> -13- <br />