; (2) the agreement in which the terms of the grant are established is for a period equal to the duration of the associated loan; and (3) at any time at which the associated loan is outstanding, the broadband service provided by the project will meet the lower of the standards that would apply under section 601(g)(4) if the associated loan had been made under section 601. (g) Payment assistance for certain applicants under this title (1) In general As part of the grant program under this section, the Secretary, at the sole discretion of the Secretary, may provide to applicants who are eligible borrowers under this title and not eligible borrowers under title I or II all or a portion of the grant funds in the form of payment assistance. (2) Payment assistance The Secretary may provide payment assistance under paragraph (1) by reducing a borrower’s interest rate or periodic principal payments or both. (3) Agreement on milestones and objectives With respect to payment assistance provided under paragraph (1), before entering into the agreement for the grant and associated loan under which the payment assistance will be provided, the applicant and the Secretary shall agree to milestones and objectives of the project. (4) Condition The Secretary shall condition any payment assistance provided under paragraph (1) on— (A) the applicant fulfilling the terms and conditions of the grant agreement under which the payment assistance will be provided