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which require compliance with the State Labor Standards per paragraph 2 herein, all <br /> contractors and subcontractors must pay the higher of the Davis Bacon or the State <br /> Prevailing wages for each job classification, and comply with all associated State and <br /> federal requirements identified herein. <br /> S. Debarred and Suspended Parties <br /> No portion of the Loan made under this Loan Agreement shall be used directly or indirectly <br /> to employ, award contracts to, or otherwise engage the services of, or fund, any contractor <br /> or subcontractor during any period of debarment, suspension, voluntary exclusion or <br /> placement in ineligibility status of such contractor or subrecipient under the provisions of <br /> 24 CFR Part 24. The Agency represents and warrants that the Agency is not debarred, <br /> suspended, proposed for debarment, declared ineligible, or voluntarily excluded from <br /> participation in federal assistance programs under such regulations or Executive Orders <br /> Nos. 12549 and 12689, "Debarment and Suspension." The Excluded Parties List System <br /> can be checked at the following web-site: www.sam.gov. <br /> T. Personal Interest <br /> The Agency agrees that it will incorporate into every lower tier contract required to be in <br /> writing and made pursuant to the Project assisted under this Loan Agreement substantially <br /> the following provisions: <br /> 1. Interest of Agency and Employees <br /> The Agency warrants that no person who presently exercises any functions or <br /> responsibilities in connection with the Project has any personal financial interest, direct <br /> or indirect, in the Loan Agreement. <br /> The Agency further represents and covenants that he/she/it presently has no interest <br /> and shall not acquire any interest, direct or indirect, which would conflict in any manner <br /> or degree with the performance of his/her/its service hereunder. The Agency further <br /> covenants that in the performance of this contract no person having any conflicting <br /> interest shall be employed. Any interest on the part of the Agency or his/her/its <br /> employees must be disclosed in writing to the Agency or the City. <br /> 2. Covenant Against Contingent Fees <br /> The Agency warrants that no person or selling agency has been employed or retained <br /> to solicit or secure this contract upon an agreement or understanding for a <br /> commission, percentage, brokerage or contingent fee, excepting bona fide employees <br /> or a bona fide established commercial or selling agency maintained by the Agency for <br /> the purpose of securing business. In the event of breach of this clause by the Agency, <br /> the Agency shall be required to annul this contract, without liability, or, in its discretion, <br /> to deduct from the contract price or consideration or otherwise recover the full amount <br /> of such commission, percentage, brokerage, or contingent fee. <br /> Loan Agreement <br /> Housing Hope Properties <br /> Page 13 of 51 <br />