Agenda - 07-07-1986 - Laserfiche WebLink

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061 the direction of the applicant for or recipient of Federal Financial assistance, take appropriate action pursuant to the subcontract upon a finding that the subcontractor is in violation of regulations issued by the Secretary of Housing and Urban Development, 24 CFR Part 135. The Contractor will not subcon- tract with any subcontractor where it has notice or knowledge that the latter has been found in violation of regulations under 24 CFR Part 135 and will not let any subcontract unless the sub- contractor has first provided it with a preliminary statement of ability to comply with the requirements of these regulations. e. Co pliance with the provisions of Section 3, the regulations set forth in 24 CFR Part 135, and all applicable rules and orders of the Department issued hereunder prior to the execution of the contract, shall be a condition of the Federal Financial assist- ance provided to the project, binding upon the applicant or recipient for such assistance, its successors and assigns. Failure to fulfill these requirements shall subject the applicant or recipient, its contractors and subcontractors, its successors or assigns to those sanctions specified by the grant or loan agreement of contract through which Federal assistance is pro- vided and to such sanctions as are specified by 24 CFR Part 135. 6. Access to Records and Record Retainage Clause. The Contractor shall be aware that in general, all official project records and documents must be maintained during the operation of this project and for a period of three years following close out in compliance with 15 NCAC 13L Rule .091 Recordkeeping. The North Carolina Department of the Treasurer, U.S. Department of Housing and Urban Development, the Comptroller General of the United States, or any of their duly authorized representatives, shall have access to any books, docu- -12-