The subject of the order is: “Granting the Municipality of Chersk a bank loan of PLN 9.120,000 to repay liabilities in 2021 arising from loans incurred in the amount of PLN 3,760.000 and to cover the planned deficit of PLN 5,360.000”.

1. The Contractor shall grant the Contractor a credit in the Polish currency amounting to PLN 9.120,000 (in words: nine million hundred and twenty thousand PLN) under the terms laid down in the loan agreement.

2. The Contracting Authority shall allocate funds from the credit to repay obligations arising from the loans incurred in 2021 and to cover the planned deficit in accordance with Article 89 (1) (2) and (3) of the Public Finance Act of 27 August 2009 (IJ - Journal of Laws of 2021, item 305).

3. The loan will be granted for the period from the date of conclusion of the contract until 31.07.2039.

4. The Contractor will open the credit account at the latest on the date of the conclusion of the credit agreement and keep it free of charge during its period.

further string in point II.2.4

5. The Contractor will open a subaccount to the credit account at the latest on the date of conclusion of the contract

And it will run them free of charge during the implementation of this loan agreement.

6. The Contractor shall put credit funds at the disposal of the Contractor on the date of signing the contract.

7. The Contractor shall launch all tranches of the credit in accordance with the Ordering Party's dispositions without charging a commission on the unused part of the credit.

8. The Contractor shall activate the credit funds of the amount and time limits indicated by the Contracting Authority in dispositions submitted to the Contractor, without submitting a separate credit application subject to consideration.

9. The deadline for the use of the credit expires from 31.12.2021.

10. The Contracting Authority shall have the right to submit a written declaration of relinquishing further use of the credit.

11. The use of credit will take place in the Polish currency.

12. The amount of credit used will be interest-bearing on an annual basis, at a variable rate.

13. The interest rate referred to in point 12 shall be equal to the base rate plus the Contractor's fixed margin, determined on the basis of the tender made.

14. The Contracting Authority's liabilities for interest on the loan will be regulated in the monthly accounting periods as the sum of the WIBOR variable base rate for gold 1- monthly deposits in the interbank market, from the last listing in the month preceding the month for which they will be charged interest, plus the Contractor's fixed margin determined on the basis of the tender made.

15. Interest will be charged on a basis of 365 days per year, with the number of calendar days per month per month and each day for 1/365 part of the year.

16. The amount of the base rate (WIBOR 1 M) which is the basis for the calculation of the loan interest rate in the month concerned and the amount of interest accrued for the month in question, the Contractor shall be notified in writing by the Contractor by the 20th day of that month.

17. Contractor's margin is fixed in the contractual credit period.

18. Interest on the credit used will be charged in the monthly accounting periods, according to the actual number of days of the calendar month and will be payable no later than the 30th day of the month for which they have been charged, except for the month of February in which interest will be payable on the last working day of the month, with:

(a) the first accounting period shall be counted from the date of payment of the first tranche of the credit and shall end on the last day of the calendar month,

(b) the last accounting period shall end on the day before the total repayment of the loan.

19. During each accounting period forming part of the contractual lending period, the interest rate on the loan will be fixed.

20. The Contracting Authority shall be entitled to early repayment of all or part of the loan within the time limit indicated by him, subject to prior written notification to the Contractor, to be served in person or via e-mail no later than 7 days before the date early repayment of all or part of the loan.

21. In case of early repayment of part of the loan or its entirety, the Contractor shall recalculate the interest for the accounting period during which the repayment occurred and shall inform the Contracting Authority in writing the amount of interest for the current accounting period within two days from the date of receipt by Contractor of written notice of early repayment.

If the Ordering Party makes an early repayment of part of the loan, the Parties shall set a new schedule for repayment of the loan in the form of an annex to the contract.

23. Early repayment of all or part of the loan does not imply termination.

24. The Contractor shall not have the right to charge and charge any additional fees and commissions, except for fees and commissions, which will be fixed in the contract.

25. The loan will be repaid by 31.07.2039

26. The schedule for repayment of the loan will be an Annex to the Agreement.