The subject of this contract is the granting of a long-term loan for the Janów poviat in the amount of PLN 4,500,000.00 (say: four million five hundred thousand zlotys 00/100) to finance the planned budget deficit of the poviat in 2019.

The subject of this contract is the granting of a long-term loan for the Janów poviat in the amount of PLN 4,500,000.00 (in words: four million five hundred thousand zlotys 00/100)

To finance the planned poviat budget deficit in 2019.

1) Working capital loan in the amount of PLN 4,500,000.00.

2) Loan period - 1/12/2019 - 30/03/2033

3) Grace period for loan repayment: from the day of starting the loan until 30.3.2020.

4) Capital repayment:

- annual installments as at 31 March each year during the repayment period

- in 2020-2023 - annual installments in the amount of PLN 50,000.00,

- in the years 2024-2027 - annual installments in the amount of PLN 200,000.00,

- in the years 2028-2030 - annual installments in the amount of PLN 500,000.00,

- in the years 2031-2032 - annual installments in the amount of PLN 700,000.00,

- 2033 - annual installment in the amount of PLN 600,000.00.

5) The interest rate will be calculated as a variable WIBOR rate for 3-month deposits, taken from the last business day of the month preceding the interest period, increased by the bank's margin, which is constant throughout the contract period.

6) Interest will be repaid on the amounts of the loan used. First payment of interest as on December 29, 2019. Interest will be paid monthly at the end of the month. In addition, 365/366 billing days should be accepted.

7) The loan will be launched from December 1, 2019 to December 29, 2019, depending on the needs.

8) The loan may not be charged with other fees and commissions than those listed in the ToR.

9) In the event of repayment of the loan at an earlier date, interest will be calculated until the day of repayment of the loan and not until the end of the contract (i.e. the possibility of early repayment of the loan without incurring costs).

10) The calculation of monthly interest should take the actual number of days in a given month.

11) Installment in capital repayment -

from 1-4 is PLN 50,000,

from 5-8 is - PLN 200,000.00, from 9-11 is - PLN 500,000.00,

from 12-13 is - 700,000.00 PLN and installment 14 is - 600,000.00 PLN.

12) Security: blank promissory note with a promissory note declaration and countersignature of the Treasurer.

13) The Bank will charge interest only on the loan tranches paid.

14) The Bank will not charge interest on the amount of unused credit.

15) The Contractor shall transfer funds to the Employer's account in a timely manner.

16) All settlements between the Employer and the Contractor will be in Polish currency (PLN).