The subject of the public contract is the service consisting in 'Granting and servicing a long-term loan in the amount of PLN 25,555,000.00 to finance the planned deficit in 2019 and repayment of previously drawn loans and credits from the Łowicz Municipality'.

1. The loan will be granted in the amount of PLN 25,555,000.00 to the account of the City of Łowicz in four tranches:

- 1st tranche - PLN 9,000,000.00 launch on September 30, 2019,

- 2nd tranche - PLN 7,000,000.00 launch on October 30, 2019,

- III tranche - PLN 7,000,000.00 launch on November 25, 2019,

- 4th tranche - PLN 2,555,000.00 launch on December 23, 2019.

2. Loan period (required) 31.12.2028, interest repayment 10.1.2029 year.

3. The loan will be repaid monthly until the last day of each month in the following years and amounts:

- in 2020: 12 installments of PLN 62,500.00; total - PLN 750,000.00,

- in 2021: 11 installments of PLN 54,583.00; in total - PLN 600 413.00

1 installment 54 577.00 PLN; total - 54,587.00 PLN,

- in 2022: 12 installments of PLN 287,500.00; total - PLN 3,450,000.00,

- in 2023: 12 installments of PLN 287,500.00; total - PLN 3,450,000.00,

- in 2024: 12 installments of PLN 287,500.00; total - PLN 3,450,000.00,

- in 2025: 12 installments of PLN 287,500.00; total - PLN 3,450,000.00,

- in 2026: 12 installments of PLN 287,500.00; total - PLN 3,450,000.00,

- in 2027: 12 installments of PLN 287,500.00; total - PLN 3,450,000.00,

- in 2028: 12 installments of PLN 287,500.00; total - PLN 3,450,000.00.

4. The loan interest rate for each interest period will be equal to the sum of the reference rate calculated on the basis of the arithmetic average, ie WIBOR, for one-month deposits from all days of the month to which it relates, rounded to two decimal places and the Bank's margin. To calculate the reference rate, the WIBOR sum for 1-month deposits from all days on which they are quoted in a given month divided by the number of days on which they are quoted is taken. Interest on the loan will be calculated only on the actual actual debt.

5. All payments under the contract will be payable in Polish zlotys.

6. The commission for granting the loan is ......%.

7. Will not be charged:

a) bank fees and commissions on the balance of the unused part of the loan and on operations related to early repayment of the loan,

b) interest on part of the loan repaid earlier than included in the contract for the period from the date of earlier repayment.

8. Interest for the period from the day the loan is released to the end of the entire loan period will be payable on a monthly basis, by the 10th day of each month following the month to which they relate. Interest for the entire loan period will 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.

The first repayment will take place in the month in which the first tranche of the loan will be launched.

9. The bank will inform the Borrower in writing about the amount of interest due, not later than 5 days before the due date of interest payment. Information on the amount of interest due to the Borrower by fax or to the e-mail address (e-mail) is considered to have been delivered to the Borrower in writing.

10. The grace period for loan repayment covers the period to 31.1.2020.

11. The loan does not have to be used in full, in this respect the Purchaser does not incur any fees.