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receiving a Performance Grant based on the Borrower's commitment to meet the City's <br />Forgivable Loan Criteria. The City- Borrower agreement will also state that the Performance <br />Grant will take the form of a note of a specified period and that said note is forgivable over the <br />specified period. The City- Borrower agreement will also state that the note is subordinated to <br />the SBA 7(a) or 504 loan and is immediately put on full standby (no payments on the note are <br />to be made by the Borrower). <br />3. The City and the participating lender or certified development company will coordinate the <br />timing of the loan so that they occur at the same time and on the same date. <br />PROGRAM EVALUATION: <br />After each year in operation, SBA will evaluate the program by measuring current and past SBA loan <br />volume in the City. <br />Cuyahoga County will evaluate the program each year by evidence of the achievement of the City's <br />Performance Grant Program's job creation and retention as stated in Attachment 1 to EXHIBIT B. <br />12 of t7 <br />