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1 . <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 /> project be awarded to business concerns which <br /> are located in, or owned in substantial part <br /> by persons residing in the areas of the project. " <br /> The Subrecipient certifies and agrees that no con- <br /> tractual or other disability exists which would <br /> prevent compliance with the requirements. I <br /> b. Subcontracts ' <br /> The Subrecipient will include this Section 3 ' <br /> clause in every subcontract and will take ap- � <br /> propriate action pursuant to the subcontract upon I <br /> a finding that the subSubrecipient is in violation <br /> of regulations issued by the Grantor Agency. The <br /> Subrecipient will not subcontract with any sub- <br /> Subrecipient where it has notice or knowledge that <br /> the latter has been found in violation of regula- <br /> tions under 24 CFR 135 and will not let said sub- <br /> contract unless the subSubrecipient has first <br /> provided it with a preliminary statement of <br /> ability to comply with the requirements of these <br /> regulations. <br /> D. Conduct <br /> 1. Assiqnability <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 <br /> such approval. Notice of any such assignment or trans- <br /> fer shall be furnished promptly to the City. <br /> > <br /> 11 <br />