The subject of the contract is the granting and servicing of a long-term loan in the amount of PLN 24,000,000.00 for the Lubin City Commune intended to finance the planned budget deficit of the city of Lubin in 2019.

Granting and servicing a long-term loan in the amount of PLN 24,000,000 for the City Commune includes the performance of the contract in accordance with the assumptions described in the ToR, in particular:

1. Grace period for repayment of principal and interest - until 30/01/2020.

2. Credit repayment security by the Employer - a blank promissory note together with a promissory note declaration with the countersignature of the Treasury of the Commune.

3. Repayment of principal and interest will take place on a monthly basis, starting from 31.1.2020.

4. Final repayment date - 31/12/2039.

5. The amount of the disbursed loan will bear interest on an annual basis at a variable interest rate.