The subject of the contract is the granting and servicing of a long-term bank loan in the amount of PLN 7,300,000 (in words: seven million three hundred thousand zlotys) to finance the planned deficit of the budget of the Municipality of Kosakowo in 2023 in accordance with Resolution No. LXXXV/609/2022 of the Kosakowo Commune Council of December 15, 2022 on the adoption of the Kosakowo Commune Budget for 2023 amended by the Resolution of the Commune Council No. XCIV/680/2023 of June 6, 2023 and the authorization to take out contained therein long-term loan and in accordance with Resolution No. XCIV/682/2023 of the Kosakowo Commune Council of June 6, 2023 on taking a long-term loan

The subject of the contract is the granting and servicing of a long-term bank loan in the amount of PLN 7,300,000 (in words: seven million three hundred thousand zlotys) to finance the planned deficit of the budget of the Municipality of Kosakowo in 2023 in accordance with Resolution No. LXXXV/609/2022 of the Kosakowo Commune Council of December 15, 2022 on the adoption of the Kosakowo Commune Budget for 2023 amended by the Resolution of the Commune Council No. XCIV/680/2023 of June 6, 2023 and the authorization to take out contained therein long-term loan and in accordance with Resolution No. XCIV/682/2023 of the Kosakowo Commune Council of June 6, 2023 on taking a long-term loan, i.e.:

1. Loan launch by 31.12.2023 once or in tranches, within no more than 3 days from the submission of the Ordering Party with the application. Credit release means the date of receipt of funds on the account of the ordering party.

2. long-term credit may not be charged other than interest rates,

3. The loan will be repaid after the grace period on the last day of the quarter starting from 31/03/2025 to 31/03/2034. If the loan or interest is due on a non-working day, repayment will take place on the first business day after that day. However, it should be taken into account that this is the maximum date and there is a possibility of early repayment,

4. Interest repayment will occur during monthly periods up to the 1st day of the month following the month for which interest is charged, starting from the date of commissioning of the loan. The Bank will be obliged to calculate the interest and send the charge to the Ordering Party at the latest 10 days prior to the date of payment of interest.

5. Variable rate loan rates consisting of two components:

(a) WIBOR rate 1 M with accuracy to 2 decimal places,

(b) fixed throughout the loan period, the bank margin determined in% on the amount of the loan with an accuracy of 2 decimal places,

6. to calculate the interest due, the bank will use a WIBOR 1M rate, calculated as the arithmetic average of all days of the month (i.e. together with the days off, where the rate of the previous day applies) and applicable to the determination of the interest rate starting from the 1st day next month. The calculated rate will be rounded to two decimal places,

7. The security of the loan will be in blanco promissory note along with the bank declaration,

8. It is allowed not to use the full amount of credit without incurring additional charges (without commission for so-called “readiness”)

9. Interest will be counted on the amount of credit used and not put at your disposal,

10. If the credit is repaid earlier, the interest will be counted until the loan is repaid and not the end of the contract period, without compensation commission.

11. For the calculation and payment of interest, the year and month are assumed to have the actual number of calendar days,

12. The possibility of applying interest capitalisation shall not be allowed,

13. the agreement reserves the possibility of early repayment of the loan or cancellation of part of the loan without incurring additional costs arising from those titles.

14. the credit will be granted on the basis of a contract proposed by the bank and accepted by the Contracting Authority,

15. The bank margin will be subject to the assessment.