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6 <br /> <br />C. Grantee is required to provide Authority with prior notice of any lapse in the insurance <br />required under this Grant Agreement including cancellation, and/or non-renewal or <br />material change in coverage. Grantee who is providing services on behalf of the Authority <br />must notify its insurer that the Authority is requiring third party notice of midterm <br />cancellation per Minnesota Statutes § 60A.36, subd. 2a. <br /> <br />D. The above sub-paragraphs establish minimum insurance requirements, and it is the sole <br />responsibility of Grantee to purchase and maintain additional coverages as it may deem <br />necessary in connection with this Grant Agreement. <br /> <br />E. Certificates of Insurance must indicate if the policy is issued pursuant to these <br />requirements. Grantee shall not commence work until Grantee has obtained the required <br />insurance and filed an acceptable Certificate of Insurance with Authority. Copies of <br />insurance policies must be submitted to the Authority upon request. <br /> <br />F. Nothing in this Grant Agreement will constitute a waiver by the Authority or Ramsey <br />County of any statutory or common law immunities, limits, or exceptions on liability. <br /> <br />G. Certificates must specifically indicate if the policy is written with an admitted or non- <br />admitted carrier. Best’s Rating for the insurer shall be noted on the Certificate, and shall <br />not be less than an A-. <br /> <br />Section 1.13 Conflict of Interest. <br /> <br />A. Interest of Officers, Employees, or Agents. No officer, employee, or agent of Grantee who <br />exercises any functions or responsibilities in connection with the planning and carrying out <br />of any HUD CDBG program, or any other person who exercises any functions or <br />responsibilities in connection with the Program, shall have any personal financial interest, <br />direct or indirect, in this Grant Agreement, and Grantee shall take appropriate steps to <br />assure compliance. <br /> <br />B. Interest of Subcontractor and Their Employees. Grantee agrees that it will incorporate into <br />every subcontract required to be in writing and made pursuant to this Grant Agreement the <br />following provisions: <br /> <br />The contractor covenants that no person who presently exercises any functions <br />or responsibilities in connection with any HUD CDBG program, has any <br />financial interest, direct or indirect, in this contract. The contractor further <br />covenants that the contractor presently has no interest and will not acquire any <br />interest, direct or indirect, that would conflict in any manner or degree with the <br />performance of the contractor’s work or services hereunder. The contractor <br />further covenants that in the performance of this contract no person having any <br />conflicting interest will be employed. Any interest on the part of the contractor <br />or contractor’s employees must be disclosed to Grantee and the Authority. <br />