Laserfiche WebLink
- 11 <br /> <br />CDBG Agreement with Rebuilding Together Oakland | East Bay – FY2019-2020 <br />d. Wasting Policies. No policy required by this section shall include a “wasting” policy limit (i.e. <br />limit that is eroded by the cost of defense). <br /> <br />e. Subcontractors. Consultant shall include all subcontractors as insureds under its policies or <br />shall furnish separate certificates and endorsements for each subcontractor. All coverages for subcontractors shall <br />be subject to all of the requirements stated herein. <br /> <br /> f. Waiver of Subrogation. Consultant hereby agrees to waive subrogation which any insurer or <br />contractor may require from a subcontractor or vendor by virtue of the payment of any loss. Consultant agrees to <br />obtain any endorsements that may be necessary to affect this waiver of subrogation. <br /> <br /> 6.6 Remedies. In addition to any other remedies City may have if Consultant fails to provide or maintain <br />any insurance policies or policy requirements to the extent and within the time herein required, City may, at its sole <br />option exercise any of the following remedies, which are alternatives to other remedies City may have and are not the <br />exclusive remedy for Consultant’s breach: <br /> <br />• Obtain such insurance and deduct and retain the amount of premiums for such insurance from <br />any sums due under the Agreement. <br /> <br />• Order Consultant to stop work under this Agreement or withhold any payment that becomes <br />due to Consultant hereunder, or both stop work and withhold any payment, until Consultant demonstrates compliance <br />with the requirements hereof; and/or <br /> <br />• Terminate the Agreement. <br /> <br />7.0 ADMINISTRATIVE REQUIREMENTS <br /> <br />7.1 Financial Management. <br /> <br />a. Accounting Standards. Consultant agrees to comply with 24 CFR Part 84 and agrees to <br />adhere to the accounting principles and procedures required therein, utilize adequate internal controls, and maintain <br />necessary source documentation for all costs incurred. <br /> <br />b. Cost Principles. Consultant shall administer its program in conformance with OMB Circulars <br />A-122, "Cost Principles for Non-Profit Organizations," or A-21, "Cost Principles for Educational Institutions," as <br />applicable for all costs incurred whether charged on a direct or indirect basis. <br /> <br />7.2 Documentation and Record-Keeping <br /> <br />a. Records to be Maintained. Consultant shall maintain all records required by the Federal <br />regulations specific in 24 CFR Part 570.506, and that are pertinent to the activities to be funded under this Agreement. <br />Such records shall include but not be limited to: <br /> <br /> (1) Records providing a full description of each activity undertaken; <br />(2) Records demonstrating that each activity undertaken meets one of the National <br />Objectives of the CDBG program set forth in 24 CFR 570.208; <br />(3) Records required determining the eligibility of activities; <br />(4) Records required to document the acquisition, improvement, use or disposition of real <br />property acquired or improved with CDBG assistance; <br />(5) Records documenting compliance with the fair housing and equal opportunity <br />components of the CDBG program; <br />(6) Financial records as required by 24 CFR Part 570.502, and Part 84; and <br />(7) Other records necessary to document compliance with Subpart K of 24 CFR 570. <br /> <br /> b. Retention. Consultant shall retain all records, including any and all ledges, books of account, <br />invoices, vouchers, cancelled checks, pertinent to charges for services or expenditures incurred and disbursements <br />176