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1.4 AMMUAL CONTRIBUTION. <br /> A. Payment. BUD shall pay the PRA annual contributions for the <br /> Program in accordance with BUD regulations and requirements. <br /> 8. Amount and Purpose of BUD Payments. <br /> 1. The annual contribution for the Program shall be the <br /> amount approved by BUD for each Fiscal Year to covers <br /> a. The amount of housing assistance payments by the <br /> PRA. <br /> b. The amount of PRA fees for Program administration. <br /> 2. The amount of the BUD annual contribution may be <br /> reduced, as determined by BUD, by the amount of Program <br /> Receipts (such as interest income) other than the HUD <br /> annual contribution. <br /> C. Maximum Payments for Program. <br /> 1. Annual Limit on Payments for Program, <br /> a. zzcept for payments from the CACC reserve <br /> account as provided in section 1.4.E of this CACC, <br /> the BUD annual contribution for the program <br /> under section 1.4.8 during the Fiscal Year shall <br /> not be more than the Maximum Annual Contribution <br /> Commitment for the Program. <br /> b. The Nazi— Annual Contribution Commitment <br /> for the Program for each PRA Fiscal Year shall be <br /> equal to the sum of the contract authority amounts <br /> reserved by BUD for the projects in the Program. <br /> The amount of contract authority reserved for each <br /> project in the Program is stated in Exhibits I and <br /> II of this CACC Part i (subject to reduction in <br /> accordance with section 1.4.D and section 2.3 of <br /> this CACC). If the first fiscal Year for the <br /> Program is more than 12 months, the Nazi— Annual <br /> Contribution Commitment for the Program for the <br /> first Fiscal Year may be adjusted in an amount as <br /> determined by BUD by the addition of the pro rata <br /> amount applicable to the period in excess of 12 <br /> months. <br /> ACC Part It Page 4 of 6 pages <br /> HUD 52520 a (August 1988) <br />