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other financial institution without such approval. Notice of any such <br /> assignment or transfer shall be furnished promptly to the City. <br /> 2. Subcontracts: <br /> a. Approvals <br /> The Subrecipient shall not enter into any subcontracts with any agency or <br /> individual in the performance of this contract without the written consent of <br /> the City prior to the execution of such Agreement. <br /> b. Monitoring <br /> The Subrecipient will monitor all subcontracted services on a regular basis <br /> to assure contract compliance. Results of monitoring efforts shall be <br /> summarized in written reports and supported with documented evidence of <br /> follow-up actions taken to correct areas of noncompliance. <br /> c. Content <br /> The Subrecipient shall cause all of the provisions of this contract in its <br /> entirety to be included in and made a part of any subcontract executed in <br /> the performance of this Agreement. <br /> d. Selection Process <br /> The Subrecipient shall undertake to insure that all subcontracts let in the <br /> performance of this Agreement shall be awarded on a fair and open <br /> competition basis. Executed copies of all subcontracts shall be forwarded <br /> to the City along with documentation concerning the selection process. <br /> e. Debarment <br /> The Subrecipient shall not contract with any business who has been <br /> debarred, suspended, or deemed ineligible to work with Federal funds as <br /> set forth in 24 CFR 570.609 <br /> 3. Hatch Act: The Subrecipient agrees that no funds provided, nor personnel <br /> employed under this Agreement, shall be in any way or to any extent engaged <br /> in the conduct of political activities in violation of Chapter 15 of Title V United <br /> States Code. <br /> 4. Conflict of Interest: The Subrecipient agrees to abide by the provisions of 24 <br /> CFR 570.611 with respect to conflicts of interest, and covenants that it <br /> presently has no financial interest and shall not acquire any financial interest, <br /> direct or indirect, which would conflict in any manner or degree with the <br /> performance of services required under this Agreement. The Subrecipient <br /> further covenants that in the performance of this Agreement no person having <br /> such a financial interest shall be employed or retained by the Subrecipient <br /> hereunder. These conflict of interest provisions apply to any person who is an <br /> employee, agent, consultant, officer, or elected official or appointed official of <br />