The subject of the contract is "Granting a long-term loan in the amount of PLN 1,994,475.24 for the Municipality of Nowy Żmigród for repayment of previously taken loans and advances"
1. The subject of the contract is: "Granting of a long-term loan in the amount of PLN 1,994,475.24 for the Municipality of Nowy Żmigród for repayment of previously taken loans and advances" on the following terms:
1) Loan utilization period until 20.12.2023
2) The loan will be transferred at the request of the Ordering Party, in two tranches
- I tranche until 31.10.2023,-
- Tranche II until 20.12.2023 to his account held in the bank selected to service the municipal budget.
3) Grace period for repayment of the loan until 31.12.2025;
4) The Ordering Party reserves the right to make an additional grace period in repayment of the loan for a period of up to 12 months in the event of deterioration of the economic indicators of the municipality. The amount of unpaid installments will increase the remaining loan installments and the repayment period will remain unchanged
5) Loan period from the date of conclusion of the contract to 31.12.2032.
6) Repayment of interest monthly starting from the first month in which the loan tranche was used.
7) Repayment of the loan in years and amounts:
a) 2026 year - PLN 240,000.00
b) 2027 year - PLN 240,000.00
c) 2028 year - PLN 300,000.00
d) 2029 year - PLN 300,000.00
e) 2030 year - 300 000,00 PLN
f) 2031 year - 300 000,00 PLN
g) 2032 - PLN 314,475.24
8) The amount of annual principal repayments may change depending on the actual use of the loan and will be determined after 20.12.2023 (i.e. after the final date of starting the loan). If the loan granted is not used in full, the installments will be reduced in proportion to the amount of the loan.
9) The loan will be repaid in monthly installments, payable by the 25th of each month starting from 25.01.2026. The repayment of the loan or their installments is the date of receipt of receivables on the credit account.
10) Interest will be repaid on the following dates:
a) interest on the loan for the year 2023 – 2025 will be payable by the 25th of each month.
b) interest for the years 2026 – 2032 – on the dates of repayment of capital installments on the basis of written information on the amount of amounts due, transferred by the contractor without charging the Costs of the Ordering Party 7 days before the payment date.
11) The interest rate will be determined based on the base rate - WIBOR 1M, according to the quotation as at the last business day of the previous calendar month, for which interest will be calculated (rounded to two decimal places), increased by the bank's margin. In the event of liquidation of the WIBOR 1M rate, it will be converted, by agreement of the parties, into a rate that will replace the WIBOR 1M rate or the rate most similar in size and nature to the WIBOR 1M rate without costs charged to the Ordering Party.
If the WIBOR 1M base rate is negative, then until it reaches positive values, a base rate of 0.00 shall be used to calculate interest.
12) The bank's fixed margin (specified in Annex 1a to the SWZ) is not subject to change throughout the entire period of performance of the contract.
13) Other fees and commission of the bank will not occur. The credit will not be charged fees other than those listed in these terms of reference.
14) The loan will be launched without commission and fees.
15) Loan security – blank promissory note.
16) The Ordering Party reserves the right to use part of the loan placed at its disposal.
17) The Ordering Party reserves the right to repay the loan early without additional fees and commissions.
18) All settlements between the Ordering Party and the Contractor shall be conducted in the Polish currency (PLN).
19) The Ordering Party agrees to the countersignature of the Treasurer on the credit agreement, bill of exchange, bill of exchange declaration.