R95-62 AUTHORIZING SUBRECIPIENT AGREEMENTS

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b. Subcontracts The Subrecipient will include this Section 3 clause in every subcontract and will take ap- propriate action pursuant to the subcontract upon a finding that the subSubrecipient is in violation of regulations issued by the Grantor Agency. The Subrecipient will not subcontract with any sub- Subrecipient where it has notice or knowledge that the latter has been found in violation of regula- tions under 24 CFR 135 and will not let sub- contract unless the subSubrecipient has first provided it with a preliminary statement of ability to comply with the requirements of these regulations. D. Conduct , 1. Assignabilitv I� The Subrecipient shall not assign or transfer any inter- est in this contract without the prior written consent of the City thereto; provided, however, that claims for money due or to become due to the Subrecipient from the City under this contract may be assigned to a bank, trust company, or other financial institution without such approval . Notice of any such assignment or trans- fer shall be furnished promptly to the City. 2 . Hatch Act The Subrecipient agrees that no funds provided, nor per- sonnel employed under this contract, shall be in any way or to any extent engaged in the conduct of political ac- tivities in violation of Chapter 15 of Title V United States Code. - 3 . Conflict of Interest The Subrecipient agrees to abide by the provisions of 24 CFR 570 . 611 with respect to conflicts of interest, and covenants that it presently has no financial interest and shall not acquire any financial interest, direct or indirect, which would conflict in any manner or degree with the performance of services required under this contract . The Subrecipient further covenants that in the perfonnance of this contract no person having such a financial interest shall be employed or retained by the Subrecipient hereunder. These conflict of interest 15