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19 <br />4. Approve modifications to loan agreements. <br />5. Evaluate underwriting requirements and make appropriate adjustments <br />as needed to accomplish the objectives of the program. <br />6. Provide direction regarding collection j{e.g. legal action, foreclosure, <br />acceleration of amortization, determination of default/charge-off, etc.) <br />7. Conduct annual review of loan documents and credit files. <br />^^ "'=FUNDING <br />The Coun has provided initial funding for the Program with the <br />understanding that the Program will- eventually develop into aself-sustainulg_ <br />revolving loan fund. '- <br />COMMITMENT PERIOD <br />r'o?~~~;~t~~ris~ierter~--~~td~r#c-~p~~ ~t~tc~a=~z~tt#~ens to <br />dc~~r~te-c~h~-te-Fent~~t~ '-'~~ r , a -The County wiIl support the <br />Program until demand for the Program is no longer present or until it is <br />no longer. financially feasible. <br />I ELIGIBILITY <br />Businesses must be located within Orange County in areas zoned <br />appropriately for their use. <br />2: n "~PP~~~_~tt~st die-resic~a~ its-.~~~tge-~etmt~--~t-tlte eases--o~~ <br />~a pats,-at laast-5~o e€~te~tentbe~;-p~t~te~ e~- <br />E3~Tlf~rr of ^}s~xac of ~ i F +-L, 7' ~ ~ i, a-, 7 i-. <br />ui ~- Li <br />" 0=~ h" '-'"T~„'~° r ^~a '- .Applicant's --~ length of residence in <br />V J <br />Orange County may be considered in assessing the applicant's degree <br />of commitment to the community. Preference will be given to Orange <br />County residents during the loan review process <br />3. Applicants must be for-profit business entities whose gross revenues do <br />4 <br />