1. The subject of the contract is the granting and servicing of a long-term loan in the amount of PLN 8,000,000.00 to finance the planned budget deficit in accordance with § 3 and 4 para. 1 point 1 of Resolution No. III / 40/19 of the Limanowski Poviat Council of 25.1.2019 - Budget Resolution of the Limanowski Poviat for 2019.

2. The loan will be taken in two equal tranches - 1st tranche by 30/09/2019, 2nd tranche by 30/12/2019. The deadline required by the Employer to place the loan / tranche at the disposal of the Employer shall be up to 5 business days from the date of submission of the payment application.

3. The loan will be repaid in 2020-2026 from the budget revenues of the Limanowski Poviat in accordance with the repayment schedule:

2020 - PLN 200,000

2021 - PLN 200,000

2022 - PLN 200,000

2023 - PLN 200,000

2024 - PLN 600,000

2025 - PLN 3,300,000

2026 - PLN 3,300,000.

4. Capital repayment period from 31.3.2020 to 31.12.2026 in each year quarterly to the last working day of the month ending the quarter with the possibility of early repayment at any time (not only the last working day of the month ending the quarter), in the amount specified in repayment schedule adapted to the long-term financial forecast. To determine the amount of quarterly capital installments, the principle of equal installments should be adopted in relation to the planned annual capital repayment limits.

5. Repayment of interest in each year quarterly to the last working day of the month ending the quarter, calculated in monthly periods, starting from 2019. The Employer will be notified by the Contractor in writing - by fax or electronically of the amount of the installment and interest payable at least 5 days before their due date.