1. The subject of the contract is the granting of a long-term bank loan to cover the planned deficit and repayment of previously incurred liabilities of the budget of the Municipality of Inowłódz in 2023 up to the amount of PLN 6,000,000.00 (in words: six million zlotys).

2. The Contracting Authority reserves the possibility of reducing the amount of the loan granted.

3. The planned date of taking out the loan is November 30, 2023. The loan will be released in three tranches at most. NOTE: To calculate the loan price, it is planned to take out a loan in one tranche on 30/11/2023.

4. The loan will be repaid in the years 2024-2042 in monthly installments payable on the last business day of the month, starting from 31.03.2024 to 31.12.2042, in accordance with the loan repayment schedule.

5. Grace period for repayment of principal installments until 30.03.2024

6. The loan will be released in tranches. The Ordering Party determines each time the amount of the loan tranche and the date of its disbursement. The release of individual loan tranches will take place after the ordering party submits a written payment instruction, without submitting a separate loan application subject to consideration. The Contractor is obliged to activate the loan no later than ..............* working days from the date of submission of the application by the contracting authority in writing or by e-mail.

7. Loan repayment schedule: detailed schedule in Chapter 4, Subsection 4.1 point 7 SWZ.

8. The Contracting Authority reserves the possibility of not charging a full credit. The Contracting Authority shall not allow the contractor to charge any additional bank fees and commissions on the unused part of the credit. In this case, the contractor will not charge the contractor for the costs of the uncollected credit.

9. The Contractor will not charge commissions for the commissioning of the credit and the commissioning of individual tranches.

10. The Contracting Authority reserves the possibility of extending the repayment period of the loan without incurring fees and commissions.

11. The cost of the loan will consist only of interest arising from the WIBOR variable interest rate and fixed margin. Interest will be charged on the amount of actual debt.

12. In addition to the interest rate of the loan, the Bank will not charge any additional fees and commissions for the contract awarded.

13. The loan will be interest-bearing by a variable amount consisting of a fixed margin of...% and a variable base rate of at the date of conclusion of the contract....% per annum. The total loan rate on the date of conclusion of the contract will be...% per annum.

14. The WIBOR 1M rate will be determined for each accounting period according to quotations two calendar days preceding the beginning of a given accounting period. In the absence of WIBOR 1M quotations for two calendar days preceding the beginning of a given accounting period, the quotations from the last day preceding the beginning of the financial period in which the WIBOR 1M rate was quoted will be used to calculate the interest rate.

15. About the amount of interest payable for the month, the Bank will notify the Borrower in writing at least 2 days before the date of payment. A notification by email is also considered a written notification: finanse@inowlodz.pl

16. Interest for the period from the starting point of credit to the end of the entire loan period shall be payable on a monthly basis, on the last business day of each month to which they relate. Interest for the entire loan period should be calculated using the method based on the actual number of days in individual months and the actual number of days in a year, i.e. 365 or 366.

17. The borrower reserves the right to repay all or part of the loan before the end of the loan period, i.e. before the end of December 2042, as well as the possibility of repaying the loan in installments and dates other than those presented in the repayment schedule, with the proviso that early repayment of capital requires prior notification to the bank. For the above activities, the contractor will not charge additional commissions or fees. In the event of such a change, the schedule and repayment date of the loan will change.

18. The underlying interest rate will be based on WIBOR 1M plus the contractor margin.

19. Loan interest rate represents the cost of the loan.

A detailed description of the subject of the contract is contained in Chapter 4 SWZ.