The subject of the contract is: Granting and servicing a long-term loan of PLN 2,000,000.00 to finance the planned budget deficit of the Izbica Kujawska Municipality

Total loan amount: PLN 2,000,000.00

Loan period: until November 30, 2016

Capital repayment: in nine years - from 2020 to 2028.

The subject of the contract is: Granting and servicing a long-term loan of PLN 2,000,000.00 to finance the planned budget deficit of the Izbica Kujawska Municipality

The detailed scope of the subject of the contract includes in particular:

Total loan amount: PLN 2,000,000.00

Loan period: until November 30, 2016

Capital repayment: in nine years - from 2020 to 2028, in amounts and dates:

- in 2020 - PLN 50,000.00 - by April 30 - PLN 25,000.00

Until August 31 - PLN 25,000.00,

- in 2021 - PLN 81,618.00 - by April 30 - PLN 27,206.00

Until August 31 - PLN 27,206.00

Until December 31 - PLN 7,206.00

- in 2022 - 107 500.00 PLN - until February 28 - 26 875.00 PLN

Until May 31 - PLN 26,875.00

Until August 31 - PLN 26,875.00

By November 30, PLN 26,875.00

- in 2023 - PLN 220,000.00 - by February 28 - PLN 55,000.00

Until April 30 - PLN 55,000.00

Until July 31 - PLN 55,000.00

Until November 30, 55,000.00 PLN

- in 2024 - PLN 200,097.00 - by February 29 - PLN 50,097.00

Until 31 May - PLN 50,000.00

Until September 30 - PLN 50,000.00

Up to December 31, PLN 50,000.00

- in 2025 - PLN 400,000.00 - by March 31 - PLN 100,000.00

By June 30 - PLN 100,000.00

By September 30 - PLN 100,000.00

By December 31, 100,000.00 PLN

- in 2026 - 440 785.00 PLN - until March 31 - 110 785.00 PLN

Until June 30 - PLN 110,000.00

By September 30 - PLN 110,000.00

By December 31, PLN 110,000.00

- in 2027 - PLN 250,000.00 - by March 31 - PLN 62,500.00

Until June 30 - PLN 62,500.00

Until September 30 - PLN 62,500.00

Until November 30 - PLN 62,500.00

- in 2028 - PLN 250,000.00 - by February 29 - PLN 62,500.00

Until May 31 - PLN 62,500.00

Until August 31 - PLN 62,500.00

Until November 30 - PLN 62,500.00.

Interest repayment: on the last day of each month, starting from the month in which the first tranche of the loan will be collected,

Loan interest rate: variable, expressed as WIBOR M + fixed Bank margin,

Security: blank promissory note with promissory note declaration,

Loan activation - deadline for placing the loan at the disposal of the Employer -

- PLN 2,000,000 on December 29, 2018.

The Purchaser reserves the right to run the loan at later or earlier dates, other amounts and not to use the entire loan amount.

The contractor will not charge any fees on the unused part of the loan.

If the entire loan amount is not used, a new loan repayment schedule will be set.

The Purchaser reserves the right to repay all or part of the loan early without additional charges.

Commission - once, only on the amount of credit granted.