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EXHIBIT 2 <br /> TENANT-BASED RENTAL ASSISTANCE (TRA) <br /> 1 . The Recipient is Indian River County Board of County Commissioners . <br /> 2 . HUD agrees , subject to the terms of the Agreement, to provide the Grant Funds in the <br /> amount specified below for the approved project(s) described in the Application . HUD' s <br /> total funding obligation is $ 69 , 048 for 8 units of tenant- based rental assistance . <br /> 3 . The term of this Grant Agreement shall be one ( 1 ) year . One -year renewal grants cannot be <br /> extended and unobligated balances will be recaptured by HUD at the end of the grant period . <br /> 4 . Recipient shall receive aggregate amounts of Grant Funds not to exceed the appropriate <br /> existing housing fair market rental value under Sec . 8 (c) ( 1 ) of the United States Housing Act <br /> of 1937 in effect at the time the Application was approved . This fair market rent may be <br /> higher or lower than the fair market rent in effect at the time of application submission . <br /> 5 . The effective date of the Agreement shall be the expiration of the prior grant that is being <br /> renewed (applicable only to renewals of grants whose terms have not been extended) . <br /> www.hud . gov espanol .hud. gov Page 24 <br />