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EXHIBIT 2 <br />TENANT -BASED RENTAL ASSISTANCE (TRA) <br />1. The Recipient is Indian River County Board of 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 $99,000 for 11 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 See. 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 19 <br />M <br />