The subject of the contract is the granting and servicing of a long-term loan to finance the planned budget deficit and repayment of previously drawn loans up to the amount of PLN 7,300,000 with the payment deadline by December 31, 2019.

1.1 The interest rate on the loan consists of a fixed bank margin throughout the entire loan period determined with an accuracy of 2 decimal places and a variable 3M WIBOR rate determined for the first month with an accuracy of 2 decimal places, determined on the last business day of the month and applicable from 1- on the first day of the following month. If the WIBOR 3M rate is not quoted as of that day, the 3M WIBOR rate from the day before the WIBOR 3M rate should be used. The sum of the fixed bank margin and the variable WIBOR 3M rate is a monthly base rate that applies from every 1st day of the next month. To calculate the offer price, the WIBOR 3M rate of 1.72 should be used throughout the loan period.

1.2 Grace in repayment of capital until January 31, 2020

1.3 The beginning of the capital repayment falls on 31.1.2020.

1.4 The loan (capital) will be repaid in monthly installments, the deadline of which expires on the last day of each month starting from 31.1.2020. Capital installments payable in 144 equal installments, i.e. in the period from 31.1.2020 to 31.12.2031. defined to two decimal places. The installments will be adjusted in the last installment. The repayment of the last installment is on 31/12/2031. If the loan repayment date expires on a non-business day or is not a business day for the Bank, the loan will be repaid on the last business day of the month. For the purpose of preparing the offer, it should be assumed that the monthly installments will be repaid on the last day of each month.

1.5 Interest payable on a monthly basis - the last day of the month on the value of the loan actually used for the actual number of days in the month. The Purchaser excludes the possibility of charging interest on the loan available. The interest is repaid from the month in which the loan was granted for the number of days for which the Employer had the Bank's funds at its disposal. If the interest repayment date expires on a non-business day or is not a business day for the Bank, the interest will be repaid on the last business day of the month. Interest is never capitalized. For the purpose of preparing the offer, it should be assumed that the repayment of monthly interest will fall on the last day of each month.

1.6 For the purposes of calculating interest, it is assumed that the year and month count the actual number of days 365/366.

1.7 The collateral for the loan granted is a blank promissory note.

1.8 The Awarding Entity does not allow any costs other than the bank's margin and interest.

1.9 The Purchaser reserves the right to resign from the loan or its part and to repay part of the loan earlier without incurring any costs in this respect, in particular commissions or fees for the annex. The amount of interest will be reduced according to the actual amount of outstanding credit used.

1.10 A possible change in the loan repayment schedule will not cause any costs to the Employer, in particular no fees or commissions will be charged.

1.11 The Awarding Entity receives a repayment schedule, which will constitute an annex to the contract, without additional charges.

1.12. The Ordering Party receives in each month on a date enabling payment without delay throughout the entire repayment period, a notification of the interest rate payable expressed in PLN and the current WIBOR 3M rate as well as the bank's constant margin without any fees. The desired period is set to 7 days.

1.13 The loan will be granted and transferred to the Employer upon his written request no later than within 2 business days of its submission.

1.14. For the purposes of preparing the offer, it should be assumed that the loan will be launched on 20/12/2019 in the amount of PLN 7,300,000.

1.15 Loan currency - Polish zloty - PLN.

1.16 The Employer agrees to submit a countersignature of the City Treasurer to the contract, promissory note and promissory note declaration.

Esp. description in Annex No. 1 of the ToR.