The subject of the contract is the granting and servicing of a long-term loan for the implementation of the operation of constructing a water supply network with connections in the municipality of Iwkowa - stage V with water intake, treatment station and expansion tank in the city of Wojakowa in the amount of PLN 1,295,732.00.

1.1. The subject of the contract is the granting and servicing of a long-term loan for the implementation of the operation of constructing a water supply network with connections in the municipality of Iwkowa - stage V with water intake, treatment station and expansion tank in the city of Wojakowa in the amount of PLN 1 295 572.00, taking into account the following assumptions :

1.1.1. loan for a period of up to 30.12.2020;

1.1.2. funds in the amount of PLN 1 295 572.00. The Contractor (hereinafter: "the Bank") will transfer to the Purchaser's bank account within the time limits set by the Purchaser. The Purchaser reserves the right not to use the entire loan amount without incurring any additional costs, i.e. additional fees, commissions and other benefits;

1.1.3. interest due (i.e. calculated on the actual amount of mobilization in a given period) will be paid at the end of each month;

1.1.4. the loan will be discharged on the basis of the Employer's written order;

1.1.5. loan interest rate:

- it is variable, determined on the basis of the 1M WIBOR rate, rounded to two decimal places increased by the fixed Bank margin,

- changes in the loan interest rate are made on a monthly basis, by changing the WIBOR 1M rate from the last business day of the previous month. The changed interest rate applies from the first day of the month starting each subsequent month of the contract, except that the full calendar month is counted for the month in which the contract was concluded,

- a change in the interest rate resulting from the WIBOR 1M rate does not constitute a change in the terms of the contract and does not require a written annex;

1.1.6. the loan will be repaid by 30/12/2020;

1.1.7. early repayment of the loan or its part will take place without additional fees, commissions and other similar services;

1.1.8. no commission, fees or other benefits for loan administration are anticipated, from earlier loan repayments, from not using the loan granted and from any other changes introduced to the contract during implementation, as well as possible currency conversion of the loan after Poland joins the Euro Zone;

1.1.9. loan collateral - blank promissory note with promissory note declaration;

1.1.10. documenting (settlements) of loan utilization is not foreseen.

1.1.11. no non-returnable commission is due for granting the loan.

1.2. The Employer requires employment by the Contractor or subcontractor under an employment contract, persons performing activities related to the administrative support of the loan granted.