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interest shall be employed. Any interest on the part of the Agency or his/her/its employees must be disclosed in writing to the Agency or the County. 2. Covenant Against Contingent Fees The Agency warrants that no person or selling agency has been employed or retained to solicit or secure this contract upon an agreement or understanding for a commission, percentage, brokerage or contingent fee, excepting bona fide employees or a bona fide established commercial or selling agency maintained by the Agency for the purpose of securing business. In the event of breach of this clause by the Agency, the Agency shall be required to annul this contract, without liability, or, in its discretion, to deduct from the contract price or consideration or otherwise recover the full amount of such commission, percentage, brokerage, or contingent fee. U. Conflict of Interest 1. Conflict of Interest in Procurement a. Applicability In the procurement of supplies, equipment, construction, and services by the Agency, the conflict of interest provisions in 24 CFR § 85.36 shall apply. In all cases not governed by 24 CFR § 85.36, the provisions of 24 CFR § 92.356 and this section shall apply. b. Conflicts Prohibited No persons described in paragraph (c) of this section who exercise or have exercised any functions or responsibilities with respect to activities assisted with HOME funds or who are in a position to participate in a decision making process or gain inside information with regard to these activities, may obtain a financial interest or benefit from a HOME-assisted activity, or have an interest in any contract, subcontract or agreement with respect thereto, or the proceeds thereunder, either for themselves or those with whom they have family or business ties, during their tenure or for one (1) year thereafter. c. Persons Covered The conflict of interest provisions of paragraph (b) of this section apply to any person who is an employee, agent, consultant, officer, or elected official or appointed official of the Agency. d. Exceptions: Threshold Requirements Upon the written request of the City, HUD may grant an exception to the provisions of paragraph (b) of this section on a case-by-case basis when it determines that such an exception will serve to further the purposes of the HOME Program and the effective and efficient administration of the City's HOME activities. The City may submit to HUD for its consideration a request for an exception only after the Agency has provided to the City the following: Loan Agreement Cocoon House Page 13 of 51