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o6L <br /> 1.3. ANNUAL CONTRIBUTION . <br /> A. Payment . BUD shall pay the PHA annual <br /> contributions for the Program in accordance with <br /> BUD regulations and requirements. <br /> B. Amount aid Purpose. The annual contribution for <br /> the Program for a Fiscal Year shall be in the <br /> amount approved by BUD for the Fiscal Year to <br /> cover: <br /> 1. The amount of housing assistance payments <br /> by the PHA. <br /> Z The amount of PEA costs for Program <br /> administration. <br /> The amount of the annual contributions by HUD may <br /> be reduced, as determined by BUD, by the amount <br /> of Program Receipts (such as interest income) <br /> other than annual contributions. <br /> C. Licit on Payments for Program. Except for <br /> payments from the ACC reserve account as provided <br /> in section 1.3.F of this ACC, the annual <br /> contribution payment by BUD for the Program for <br /> any Fiscal Year shall not be more than the <br /> Maximum Annual Contribution Commitment for the <br /> Program in effect during the Fiscal Year. <br /> D. Maximum Annual Contribution Commitment for <br /> Program. The Maximum Annual Contribution <br /> Commitment for the Program for each PHA Fiscal <br /> Year shall be equal to the sum of the - contract <br /> authority amounts reserved by HUD for the <br /> projects in the Program. The amount of contract <br /> authority reserved for each project in the <br /> Prograa is stated in Exhibit I of this ACC Part I <br /> (subject to reduction in accordance with section <br /> 1.3.E and section 2.3 of this ACC) . If the first <br /> Fiscal Year for the Program is more than 12 <br /> months, the Maximum Annual Contribution <br /> Comm tment for the Program for the first Fiscal <br /> Year may be adjusted in an amount as determined <br /> by HUD by the addition of the pro rata amount <br /> applicable to the period in excess of 12 months. <br /> Page 3 of 6 pages BUD 52520 B (June 1985) <br />