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BONDINQ REQUIREMENT
<br />For any construction contracts or subcontracts exceeding $100,000, the following is required:
<br />A. A bid guarantee from each bidder equivalent to five percent (5%) of the bid price, The "bid guarantee" shall
<br />consist of a fine commitment such as a bid bond, certified check, or other negotiable instrument accompanying a
<br />bid as assurance that the bidder will, upon acceptance of his bid, execute such contractual documents as may be
<br />required within the time specified.
<br />B. A performance bond on the pail of the contractor for one hundred percent (1001/1o) of the contract price. A
<br />"performance bond" is a bond executed in connection with a contract to secure fulfillment of all the contractor's
<br />obligations under such contract.
<br />C. A payment bond on the part of the contractor for one hundred percent (100%) of the contract price, A "payment
<br />bond" is a bond executed in connection with a contract to assure payment as required by law of all persons
<br />supplying labor and material in the execution of the work provided for in the contract.
<br />D. Where bonds are required,
<br />The bonds shall be obtained fiom companies holding certificates of authority as acceptable sureties pursuant to 31
<br />CFR part 223, "Surety Companies Doing Business with the United States."
<br />LIED WAIVERS
<br />For any construction contract or subcontract exceeding $100,000, the Recipient must ensure that each contractor executes a
<br />lien waiver for all services, construction work performed, materials furnished, and equipment and fixtures furnished.
<br />IHCDA must receive copies of any and all affidavits, indemnity agreements, lien waivers, certificates, and other documents
<br />as requested.
<br />FLOOD PLAIN PROHIBITION
<br />The Award cannot be used to rehabilitate a home where it or its land is located within the boundaries of a one hundred
<br />(100)-year floodplain.
<br />CONSTRUCTION SIGNAGE
<br />If construction signage, is used that mentions the names of any specific funding entities, the Indiana Housing and
<br />Community Development Authority's name shall appear on such signage.
<br />CONFLICT OF INTEREST POLICY
<br />The Recipient must maintain written standards of conduct covering conflicts of interest and governing the performance of
<br />its employees engage in the selection, award and administration of contracts. No employee, officer, or agent may
<br />participate in the selection, award, or administration of a contract supported by the Award if he or she has a real or apparent
<br />conflict of interest. Such a conflict of interest would arise when the employee, officer, or agent, any member of his or her
<br />immediate family, his or her partner, or an organization which employs or is about to employ any of the parties indicated
<br />herein, has a financial or other interest in or a tangible personal benefit from a firm considered for a contract. The officer's,
<br />employees, and agents of the Recipient may neither solicit nor accept gratuities, favors, or anything of monetary value from
<br />contractors or parties to subcontracts. However, the Recipient may set standards for situations in which the financial
<br />interest is not substantial or the gift is an unsolicited item of nominal value. The standards of conduct must provide for
<br />disciplinary actions to be applied for violations of such standards by officers, employees, or agents of the Recipient.
<br />If the Recipient has a parent, affiliate, or subsidiary organization that is not a state, local government, or Indian tribe, the
<br />Recipient must also maintain written standards of conduct covering organizational conflicts of interest. Organizational
<br />conflicts of interest means that because of relationships with a parent company, affiliate, or subsidiary organization, the
<br />Recipient is unable or appears to be unable to be impartial in conducting a procurement action involving a related
<br />organization.
<br />The Recipient's procedures must avoid acquisition of unnecessary or duplicative items, Consideration should be given to
<br />consolidating or breaking out procurements to obtain a more economical purchase. Where appropriate, an analysis will be
<br />made of lease versus purchase alternatives, and any other appropriate analysis to determine the most economical approach.
<br />CDBG-D CITY of SOUTII BEND DR20R 018 OQ3
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