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<br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />1.3. <br /> <br />.. <br /> <br />" <br /> <br />.-. + --_._..~. <br /> <br />~. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />: <br /> <br />,~ <br /> <br />, ',. <br /> <br />...... <br /> <br />, . <br /> <br />. <br /> <br />" <br /> <br />" <br /> <br />. <br /> <br />" <br /> <br />" <br /> <br />. <br /> <br />cenernlly be for not more than one year; Provideù, however, <br />that the specified Lease term, including specified 1"ene...'al <br />options, if any, shall in no event exceed three years or <br />the term of this Annual Contributions Contract, whichever <br />is shorter, . <br /> <br />Annual Contributions. <br /> <br />(a) <br /> <br />(b) <br /> <br />Notwithstanding any other provisions of this ACe (other <br />than paragraph (c) of this Section) or any provisions of any <br />other contract between the Government and the Local Authority, <br />the Government shall not be obligated to ~ßke any Annual <br />Contributions or any other payment in respect to the Project <br />, in excess of $751,307 ; Providcd, however,. that this amount <br />shall be reduced CODl~ensurate with any ,reduction in the <br />number of units pursuant to Section l.8 of this ACC. <br /> <br />Subject to the maximum dóllar limitation in paragraph (a) <br />of this Section, the Governrn"nt shall pay Annual Contribu- <br />tions to the Local Authority in respect to the Proj ect in <br />an amount equal to the sum of the following: <br /> <br />. , <br /> <br />(1) <br /> <br />The amount of housing assistance payments payable <br />during the Fiscal Year (see Section 1.4) by the Local <br />Authority pursuant to Contracts, as aut,horized in <br />Section 1.2. <br /> <br />(2) <br /> <br />The allowance, in the amount approved by the Government, <br />for security and utility deposits. <br /> <br />(3) <br /> <br />The allowance, in the amount approved by the Government, <br />for preliminary costs of administration. <br /> <br />(4) <br /> <br />The allo¡.¡ance, in the amount approved by the Government, <br />for the rcgular costs of adtlinistration. <br /> <br />(c) <br /> <br />Subject to the maximum amount stated in paragraph (a) of this <br />Section, the Annual Contribution for any Fiscal Year may <br />include such amount as. the Governmcnt may determine to be <br />necessar)' to assure that the low-rent chal"acter of the Proj- <br />ect will be maintained, which amount shall be c.redited to nn <br />account maintained by the Local Authority or the Government <br />as determined by the Government. To the extent funds nre <br />available in said account, the Annual Contribution for any <br /> <br /><- <br /> <br />, ' <br /> <br />2 <br /> <br />, <br /> <br />I <br />,,' <br />" <br />~ ~'.. <br /> <br /> ' <br /> <br />," <br /> <br />r <br />