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1.4 ANNUAL CONTRIBUTION. <br />A. Payment. BUD shall pay the PH& annual contributions for the <br />Program in accordance with HUD regulations and requirements. <br />B. Amount and Purpose of BUD Paye2nts. <br />1. The annual contribution for the Program shall be the <br />amount approved by HuD for each Fiscal Year to covers <br />a. The amount of.housing assistance payments by the <br />PHA. <br />b. The amount of PHA fees for Program administration. <br />2. The amount of the BUD annual contribution may be <br />reduced, as determined by HUD, by the amount of Program <br />Receipts (such as interest income) other than the Wo <br />annual contribution. <br />C. MAXiMum Payments for.Program. <br />1. Annual Limit on P&YE92ntl for Program. <br />a. Except for payments from the CACC reserve <br />account as provided in section 1.4.8 of this CACC, <br />the HIID 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 ]Y(,gx; mum Annual Contribution Commitment <br />for the Program for each PEA 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 />ix 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 maximum Annual <br />contribution Commitment for the Program for the <br />first Fiscal Year may be adjusted in an amount as <br />determined by MM by the addition of the pro rata <br />amount applicable to the period in excess of 12 <br />months. <br />Acc Part xs Page 4 of 6 pages <br />BUD 52520 B (August 1988) <br />