Granting a long-term loan to repay previously taken loans and advances, redemption of issued municipal bonds and to cover the deficit in the total amount of PLN 4,000,000.00.

The subject of the contract includes the granting of a long-term loan for the repayment of previously taken loans and advances, the redemption of municipal bonds issued and to cover the deficit, including in particular:

a) Loan amount: up to PLN 4,000,000.00 (in words: four million zlotys);

b) Loan repayment period: the loan will be repaid in the years 2024 – 2029 in quarterly installments;

c) Loan period: 2023 – 2029;

d) Grace period for repayment of capital: will take place until 31.03.2024;

e) Loan currency: the loan will be repaid in PLN;

f) Purpose of the loan: the amount of PLN 4,000,000.00, intended for the repayment of previously taken loans and advances and the redemption of issued municipal bonds in the amount of PLN 2,580,089 and to cover the deficit of PLN 1,419,911.00.

g) Collateral for the loan: blank promissory note with a bill of exchange declaration (countersigned by the Municipal Treasurer);

h) Cost of credit: the interest rate on the loan will be expressed as the sum of the WIBOR rate for the three-month period, effective 2 business days before each start of the accounting period (quarter) and the contractor's margin (to two decimal places)

(i) Margin: will be fixed throughout the duration of the contract;

j) Making the loan available: the date of signing the contract will be the date of placing the loan at the disposal of the Ordering Party. The loan payment will be launched in tranches according to the needs of the Ordering Party and at its request using until 31.12.2023;

k) Interest repayment: will take place on a quarterly basis in the years 2023 – 2029, from the moment the loan is disbursed for the actual number of interest days and the actual used and outstanding value of the loan. Interest for the entire loan period should be calculated using a 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. Interest is due for the period from the payment of the loan to its repayment.

l) Interest payment date: quarterly interest payment will take place on the last working day of the month of the quarter for which interest is calculated on the basis of an interest note issued by the Contractor. The interest note should be received by the Municipality for at least

5 days before the due date for payment of interest.

At the written request of the Bank, interest on the loan will be repaid quarterly by the 5th day of the month of the next calendar quarter. In this case, the Bank is obliged to provide information on the amount of interest payable for a given period, calculated in accordance with the terms of the contract, 5 business days before the interest repayment deadline;

m) Repayment of the loan:

The grace period for loan repayment is set until 31 March 2024.

The loan will be repaid in quarterly installments in the years 2024 - 2029:

2024 – 4 x PLN 100,000.00

2025 – 4 x PLN 180,000.00

2026 – 4 x PLN 180,000.00

2027 – 4 x PLN 180,000.00

2028 – 4 x PLN 180,000.00

2029 – 4 x PLN 180,000.00

n) Change of schedule: If the full amount of the loan is not used, the Bank shall, in consultation with the Borrower, change the loan repayment schedule and deliver to the Borrower a new loan repayment schedule taking into account the changes made.

o) The change in the interest rate on the loan will take place in accordance with the change in the WIBOR 3M rate, determined in the manner specified in point h, from the 1st day of the next calendar quarter, and the contractor's margin will not change throughout the loan period.