The subject of the contract is the performance of a service consisting in granting a long-term loan in the amount of PLN 9,000,000.00 (nine million zlotys) to cover the planned budget deficit of the Municipality of Mszczonów in 2022 in the amount of PLN 7,283,572.00 and repayment of previously incurred liabilities under issued bonds and loans and advances in the amount of PLN 1,716,428.00.

1. The subject of the contract is the performance of a service consisting in granting a long-term loan in the amount of PLN 9,000,000.00 (nine million zlotys) to cover the planned budget deficit of the Municipality of Mszczonów in 2022 in the amount of PLN 7,283,572.00 and repayment of previously incurred liabilities under issued bonds and loans and advances in the amount of PLN 1,716,428.00.

2. Specific terms of the contract:

1) The currency of the loan will be PLN Polish – all settlements between the Contractor and the Ordering Party will be made in Polish zlotys.

2) Loan period: from the date of signing the contract to 31.12.2031.

3) The loan will be activated, put at the disposal of the Ordering Party no later than within three working days from the conclusion of the contract.

4) The Ordering Party reserves the right to use the credit in tranches. The loan tranches will be activated within two working days from the date of submission of the instruction to the Contractor.

5) The maximum deadline for using the funds from the loan is set until 29.12.2022.

6) The Contractor will grant a grace period in repayment of the loan until 30.03.2023.

7) Repayment of capital will take place in quarterly installments (on the last day of each quarter) after the grace period, in accordance with SWZ.

8) The Ordering Party reserves the right not to charge the full amount of the loan. The minimum loan value that the Ordering Party will use is PLN 3,000,000.00. No fee or commission will be charged by the Contractor on the unused loan amount. The parties will agree on a new loan repayment schedule and the arrangements made will be recorded in the form of an annex to the contract.

9) Interest will be repaid on a monthly basis (on the last day of each month), immediately after the loan is activated. Interest payment will take place only on the amount of the loan actually launched on the basis of a written notification from the bank about the amount of accrued interest by the 15th day of each month.

10) If the loan or interest repayment date expires on a Saturday, Sunday or other public holiday, the loan or interest will be repaid on the last business day preceding the repayment date.

11) The loan will bear interest at a variable interest rate constituting the sum of the base rate and the Bank's fixed margin presented in the offer. The bank's margin cannot be increased during the term of the loan agreement.

12) The base rate is WIBOR 1M, which will be calculated to two decimal places, according to the quotation from the last calendar day preceding the beginning of a given accounting period, and is valid for the period of the following month. In the absence of quotations of the WIBOR 1M rate for the last day of the month, the relevant quotations from the day preceding the quotation was carried out shall be used for calculation. The interest rate changes on the first day of each month. The Contractor shall inform the Ordering Party in writing about the change in the interest rate caused by the change in the WIBOR 1M base rate.

13) When calculating interest, it is assumed that the month has the actual number of calendar days, while the year has 365 days.

14) The Ordering Party reserves the right, without incurring additional costs, to:

(a) early repayment of the credit or part thereof.

In the case of early repayment of the loan, interest will be calculated until the loan repayment date, and not until the end of the loan agreement.

(b) the early repayment of individual instalments within a given financial year,

c) extend the repayment of the loan in a situation where the legal or financial conditions of the Ordering Party affecting the repayment change.

15) Any changes regarding the loan repayment date require consistent declarations of will of the Ordering Party and the Contractor for their validity in writing in the form of an annex to the contract.

Other information was described by the Ordering Party in SWZ.