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trust company, or 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 individual in the <br />performance of this contract without the written consent of the City prior to the execution of <br />such Agreement. <br />b. Monitoring <br />The Subrecipient will monitor all subcontracted services on a regular basis to assure contract <br />compliance. Results of monitoring efforts shall be summarized in written reports and <br />supported with documented evidence of follow-up actions taken to correct areas of <br />noncompliance. <br />c. Content <br />The Subrecipient shall cause all of the provisions of this Agreement in its entirety to be <br />included in and made a part of any subcontract executed in the performance of this <br />Agreement. <br />d. Selection Process <br />The Subrecipient shall undertake to ensure that all subcontracts let in the performance of this <br />Agreement shall be awarded on a fair and open competition basis. Executed copies of all <br />subcontracts shall be forwarded to the City along with documentation concerning the <br />selection process. <br />e . Debarment <br />The Subrecipient shall not contract with any business who has been debarred, suspended, or <br />deemed ineligible to work with Federal funds as set forth in 24 CFR 570.609 <br />3. Hatch Act. The Subrecipient agrees that no funds provided, nor personnel employed under this <br />Agreement, shall be in any way or to any extent engaged in the conduct of political activities in <br />violation of Chapter 15 of Title V United States Code. <br />4. Conflict of Interest: The Subrecipient agrees to abide by the provisions of 24 CFR 570.611 with <br />respect to conflicts of interest, and covenants that it presently has no financial interest and shall <br />n ot acquire any financial interest, direct or indirect, which would conflict in any manner or degree <br />with the performance of services required under this Agreement. The Subrecipient further <br />covenants that in the performance of this Agreement no person having such a financial interest <br />shall be employed or retained by the Subrecipient hereunder. These conflict of interest <br />provisions apply to any person who is an employee, agent, consultant, officer, or elected official <br />o r appointed official of the City, or of any designated public agencies or Subrecipients which are <br />receiving funds under the CDBG Entitlement program. <br />Exhibit B - 12 <br />