of

EUR 70,000,000.00 ("Loan")

(In words: seventy million Euros).

municipalities in the Republic of Serbia selected by the Borrower in consultation with KfW (each town/municipality hereinafter referred to as “Municipality”, together as “Municipalities”) and to their respective public utility companies in charge of wastewater management (each company hereinafter referred to as “Programme-Executing Agency”, together as “Programme-Executing Agencies”) in accordance with the conditions set forth in

Article 2

. The Borrower, in this respect represented by the Ministry of Construction, Transport and Infrastructure (the “MCTI”) shall ensure that each Municipality and/or Programme-Executing Agency, as the case may be will use the Loan exclusively to finance the implementation and improvement of wastewater infrastructure measures, energy-efficiency measures as well as associated measures (the “Programme”).

Programme implementing unit ("Programme Implementing Unit"), the Municipalities and their Programme-Executing Agencies and KfW will determine the details of the Programme and the supplies and services to be financed from the Loan by separate agreements (each of them defined as "Separate Agreement”, together as “Separate

Agreements").

by the Borrower, any of the Municipalities or the Programme-Executing Agencies, as well as customs duties will not be financed from the Loan. In addition to the foregoing, the goods and services imported to the Republic of Serbia for the Programme shall be exempted from customs fees and the trade of goods, services, and equipment for the Programme shall be exempted from value added tax in the Republic of Serbia.

Loan to the Municipalities and the Programme-Executing Agencies, as a loan at terms and conditions as set out in

Article 5.1

and 6.1 hereof, and at least 70% as a grant. Further details will be set out in the respective Separate Agreement and separate on-granting and on- lending agreements to be concluded between the Borrower, each Municipality and its Programme-Executing Agency (the on-granting agreements and the on-lending agreements are hereinafter referred to

as “Trilateral Contracts”, each a “Trilateral Contract”).

of the Municipalities and their Programme-Executing Agencies, the Borrower, in this regard represented by the MCTI, shall provide KfW with a certified English translation for the respective Trilateral Contract as specified in

Article 2.1

hereof. Prior to any further disbursement of the Loan to other Municipalities and their respective Programme-Executing Agencies, the Borrower shall furnish to KfW a copy and a certified English translation of the respective Trilateral Contract.

The channelling of the Loan under the Trilateral Contracts shall not constitute any liability of the Municipalities or their Programme- Executing Agencies to KfW for payment obligations under this Loan Agreement, but will not exclude them form payment obligations towards the Borrower under the respective Trilateral Contract.

disbursement pursuant to

Article 3.3

(Conditions precedent to disbursement) hereof are fulfilled, KfW will disburse the Loan in accordance with the progress of the Programme and upon request of the Borrower, in this regard represented by the MCTI. Disbursements will be made in accordance with the Disbursement Schedule contained in Annex 1 (Disbursement Schedule) to this Loan Agreement. KfW will make disbursements only up to the maximum amounts determined for each disbursement period specified in Annex 1. To the extent the Borrower requests disbursement of lower amounts within any such period the undisbursed amounts may be requested in any of the next ensuing periods. With the exception of the last disbursement, KfW is not obligated to make disbursements of less than EUR 350,000.00.

make disbursements after 30 June 2030. KfW and the Borrower may agree on an extension of this deadline in writing by way of an exchange of letters.

disbursements under this Loan Agreement only if the following conditions precedent have been fulfilled in a manner satisfactory to KfW in form and substance:

KfW has the right prior to any disbursement from the Loan to demand such further documents and evidence as it deems necessary at its discretion (acting reasonably in accordance with regulations and policies applicable to KfW and/or international banking practise) to ascertain the conditions precedent for disbursement specified in this section.

represented by the MCTI, the Municipalities and their Programme- Executing Agencies and KfW will determine the details of the disbursement procedure by the Separate Agreements and, in particular, the evidence that has to be furnished by the Borrower through the MCTI documenting that the requested Loan amounts are being used for the agreed purpose.

obligations under

Article 11

(Special obligations) hereof the Borrower may waive the disbursement of undisbursed Loan amounts with the prior consent of KfW against payment of a Non-Utilisation Fee pursuant to and as defined in

Article 3.6

(Non-Utilisation Fee) hereof.

Loan amount for which an interest rate has already been determined pursuant to

Article 3.5

(Right to cancel disbursements) hereof, or if such Loan amount is not disbursed at all or is not disbursed by the deadline stated in

Article 3.2

(Deadline for requesting disbursements) hereof, the Borrower will promptly pay to KfW upon its request such amount as is necessary to compensate KfW for any losses, expenses or costs incurred by KfW as a result of the non-disbursement of the Loan amount ("Non-Utilisation Fee"), unless such non-disbursement constitutes a breach of this Loan Agreement by KfW. KfW will calculate the amount of the Non-Utilisation Fee and communicate it to the Borrower. The Non-Utilisation Fee shall be determined as if no interest subsidies had been provided by the Federal Republic of Germany for the Programme.

fee of 0.25 % per annum ("Commitment Fee") on undisbursed Loan amounts.

The Commitment Fee is due for payment semi-annually in arrears on 15 May and 15 November of each year, for the first time on 15 May 2026 but no earlier than on the respective date following the day on which this Loan Agreement enters into force and effect pursuant to

Article 15.10

(Entry into force and effect) hereof.

The Commitment Fee will be charged if applicable with retroactive effect for the period beginning twelve months after the signing of this Loan Agreement and lasting until the date of disbursement of the Loan in full or, if applicable, until the date of definitive termination of disbursements from the Loan.

time lump-sum management fee of 0.5 % of the Loan amount stated in

Article 1.1

(Amount) hereof ("Management Fee"). The Management Fee is payable on the earliest of the following two dates:

If the interest rate calculated in accordance with the foregoing falls below 0 % per annum, the Fixed Interest Rate will be 0 % per annum.

The Fixed Interest Rate thus determined will apply until the last repayment instalment has been received in accordance with the repayment schedule set out in

Article 6.1

(Repayment schedule) hereof.

charged from the date (exclusively) on which the respective Loan amount is disbursed from the Loan account held with KfW for the Borrower until the date (inclusively) on which the respective repayments are credited to KfW's account specified in

Article 7.3

(Account number, time of crediting) hereof. Interest will be calculated in accordance with

Article 7.1

(Calculation) hereof.

specified below (each a "Payment Date"):

This Repayment Schedule may be adjusted from time to time in accordance with

Article 6.5

(Revised repayment schedule).

against the respective last repayment instalment due pursuant to the repayment schedule set forth in

Article 6.1

(Repayment schedule) hereof unless KfW at its own discretion, after prior consultation with the Borrower, chooses another offsetting alternative in individual cases.

instalment is due before the Loan has been disbursed in full, this will not affect the repayment schedule pursuant to

Article 6.1

(Repayment schedule) hereof as long as the repayment instalment due under the repayment schedule is lower than the Loan amount disbursed and not yet repaid ("Outstanding Loan Amount"). If the repayment instalment due in accordance with

Article 6.1

(Repayment schedule) hereof exceeds the Outstanding Loan Amount, such repayment instalment will be reduced to the level of the Outstanding Loan Amount and the difference will be allocated evenly to the repayment instalments still outstanding. In computing the Outstanding Loan Amount KfW reserves the right to consider disbursements from the Loan that are made within a period of 45 or fewer days before a Payment Date to determine the Outstanding Loan Amount only for the next ensuing Payment Date.

Article 6.3

(Repayments in case of incomplete disbursement) or

Article 6.4

(Prepayment), KfW shall send the Borrower a revised repayment schedule which shall form an integral part of this Loan Agreement and replace any repayment schedule applicable at the time of such replacement after the last disbursement under the Loan by KfW.

Article 7.5

(Default interest) hereof, lump-sum compensation payments for overdue amounts pursuant to

Article 7.6

(Lump-sum compensation) hereof, Non-Utilisation Fee and Prepayment Fee will be calculated on the basis of a 360-day year with thirty-day months.

Agreement falls due on a date that is not a Banking Day, the Borrower must make such payment on the following Banking Day. If the following Banking Day falls within the next calendar month, such payment must be made on the last Banking Day of the current calendar month.

its payment obligations in connection with this Loan Agreement if and to the extent that the respective amounts have been credited to KfW at its free disposal without any deductions in euros and no later than at 10.00 a.m. in Frankfurt am Main, Federal Republic of Germany, to KfW's account in Frankfurt am Main, Federal Republic of Germany, number IBAN DE 92 5002 0400 3122 3012 32, stating the due date as an additional reference ("Ref. YYYYMMDD").

any rights of retention or set-off or comparable rights against payment obligations under this Loan Agreement unless such rights are (i) established by means of a final and binding (rechtskräftig) court decision or arbitral award or (ii) not contested by KfW.

to

Article 6.4

(Prepayment) hereof are not at the disposal of KfW when due, KfW may without prior reminder charge default interest at the rate of 200 basis points above the interest rate per annum set out in

Article 5

(Interest) hereof for the period beginning on the due date and ending on the date on which such payments are credited to the account of KfW specified in

Article 7.3

(Account number, time of crediting) hereof. Such default interest must be paid immediately upon KfW's first demand.

lump-sum compensation on overdue amounts (with the exception of the repayment instalments and prepayments mentioned in

Article 7.5

(Default interest) hereof) from the due date until the date of payment at a rate of 200 basis points above the Fixed Interest Rate per annum pursuant to

Article 5

(Interest) hereof. The lump-sum compensation must be paid immediately upon KfW's first demand. The Borrower is free to demonstrate that no damages have occurred or that the damages were less than the lump-sum compensation.

payments due under this Loan Agreement.

calculated by KfW and calculations performed by KfW of amounts due in connection with this Loan Agreement constitute prima-facie evidence (Anscheinsbeweis).

KfW will have payment claims under this Loan Agreement guaranteed by the Federal Republic of Germany prior to the first disbursement.

If, in any applicable jurisdiction, it becomes unlawful for KfW to perform any of its obligations as contemplated by this Loan Agreement or to fund or maintain the Loan, upon KfW notifying the Borrower

In its notice hereunder, KfW will provide an explanation regarding the illegality event.

For the avoidance of doubt, any cancellation hereunder will be subject to

Article 3.6

(Non-Utilisation Fee) and any repayment of the Loan hereunder constitutes a prepayment and will be subject to the provisions set out in

Article 6.4

c) (Prepayment Fee) and d) (Amounts due).

under this Loan Agreement without any deductions for taxes, other public charges or other costs. In the event that the Borrower is required by law or for any other reason to make deductions or withholdings from any payments, the payments made by the Borrower will increase by such amount as necessary for KfW to receive in full the amounts due under this Loan Agreement after deduction of taxes and charges.

connection with the disbursement and repayment of the Loan, in particular remittance and transfer costs (including conversion fees), as well as all costs and expenses accruing in connection with the maintenance or enforcement of this Loan Agreement and of any other document related to this Loan Agreement as well as of all rights resulting therefrom.

public charges accruing outside the Federal Republic of Germany in connection with the conclusion and execution of this Loan Agreement. If KfW advances such taxes or charges, the Borrower will transfer them without delay upon request to KfW's account specified in

Article 7.3

(Account number, time of crediting) hereof or to such other account as specified by KfW.

itself, in this regard represented by MCTI, will ensure that each Municipality and its respective Programme-Executing Agency

represented by the MCTI, the Municipalities and their Programme- Executing Agencies and KfW will determine the details pertaining to

Article 11.1

(Programme implementation and special information) hereof by the Separate Agreement.

MCTI, undertakes to comply at all times with the obligations set out in the respective Separate Agreement and will ensure that each Municipality and each Programme-Executing Agency complies at all times with the corresponding obligations set out in the Separate Agreements (Compliance Covenants).

Programme- Executing Agency in conformity with sound engineering and financial practices in the implementation of the Programme and in the performance of their obligations under the Separate Agreements and, in particular, grant each Municipality and Programme-Executing Agency any and all permissions necessary for the implementation of the Programme in line with the laws of the Republic of Serbia.

respect represented by the MCTI, will not and will ensure that the Municipalities and their Programme-Executing Agencies will not sell or otherwise dispose of any Programme assets in their entirety or parts thereof before the Loan is fully and irrevocably repaid.

obligations under this Loan Agreement rank and will be serviced at least pari passu with all other unsecured and not subordinated payment obligations, and the Borrower will ensure to the extent permitted by law that this ranking is also assured for all future unsecured and not subordinated payment obligations.

12.2 (Legal consequences of the occurrence of a cause for termination) hereof if a circumstance arises that constitutes good cause (Wichtiger Grund). These include, in particular, the following circumstances:

one of the events mentioned in

Article 12.1

(Reasons for termination) hereof has occurred, KfW may immediately suspend disbursements under this Loan Agreement. If this event is not resolved within a period of five days (in the case of

Article 12.1

a) hereof) or in all other cases of

Article 12.1

(Reasons for termination) hereof within a period determined by KfW which, however, shall be at least 30 days, KfW may cancel this Loan Agreement in whole or in part with the consequence that its obligations under this Loan Agreement cease and KfW may demand the immediate repayment of all or part of the Outstanding Loan Amount together with the interest accrued and the remaining amounts owed under this Loan Agreement. Articles 7.5 (Default interest) and 7.6 (Lump-sum compensation) hereof apply to accelerated amounts mutatis mutandis.

or in part the Borrower will pay Non-Utilisation Fee in accordance with

Article 3.6

(Non-Utilisation Fee) and/or Prepayment Fee in accordance with

Article 6.4

c) (Prepayment Fee).

persons as designated by him or her to KfW and authorised by specimen signatures authenticated by him or her will represent the Borrower in the execution of this Loan Agreement. The Minister of Construction, Transport and Infrastructure and such persons as designated by him or her to KfW and authorised by specimen signatures authenticated by him or her will represent the Borrower in the implementation of the Programme and this Loan Agreement. The powers of representation will not expire until their express revocation by the representative of the Borrower authorised at such time has been received by KfW.

Agreement must be in writing. They must be sent as originals or – with the exception of requests for disbursement - via facsimile. Any and all declarations or notifications made in connection with this Loan Agreement must be sent to the following addresses:

For KfW: KfW Postfach 11 11 41 60046 Frankfurt am Main Germany Fax: +49 69 7431-2944 For the Borrower: Ministry of Finance Kneza Milosa 20, 11000 Beograd Republic of Serbia

Ministry of Construction, Transport and Infrastructure Nemanjina 22-26, 11000 Beograd Republic of Serbia Fax: +381-11-3610-972

internationally accepted principles of utmost transparency and efficiency in the development cooperation, KfW publishes selected information (including results of environmental and social categorization and assessment as well as ex post evaluation reports) about the Programme and its financing during pre-contractual negotiations, while the Programme-related agreement(s) is (are) being implemented and in the post-contractual stage (hereinafter referred to

as the "Entire Period").

The information is published regularly on the website of KfW Development Bank (https://www.kfw.de/microsites/Microsite/transparenz.kfw.de/#/start).

The publication of information (either by KfW or third parties in accordance with

Article 14.3

(Transfer of programme related information to third parties and publication by these) below) about the Programme and its financing does not include any contractual documentation or any sensitive financial or business-related detailed information about the parties involved in the Programme or its financing, such as

selected information about the Programme and its financing during the Entire Period with the entities mentioned below, particularly to ensure transparency and efficiency:

publication by these. Furthermore, the Federal Republic of Germany has requested KfW to share selected information about the Programme and its financing throughout the Entire Period with the following entities, which publish the sections relevant to the purpose:

(including publication by these). KfW further reserves the right to transfer (including for the purposes of publication) information about the Programme and its financing during the Entire Period to other third parties so as to safeguard legitimate interests.

The information is not transferred by KfW to other third parties if the legitimate interests of the Borrower in the information not being transferred outweigh KfW's interests in it being transferred. The legitimate interests of the Borrower particularly include the confidentiality of the sensitive information mentioned in

Article 14.1

(Publication of programme-related information by KfW), which is excluded from publication.

Furthermore, KfW is entitled to transfer information to third parties if this is necessary due to statutory or regulatory requirements or to assert or defend claims or other legal rights in court or administrative proceedings.

or Sunday), on which commercial banks are open for general business in Frankfurt am Main, Germany; provided that for the purposes of defining any repayment date and Payment Date in relation to a Loan provided hereunder and for determining any dates for disbursement or other payments thereunder, such day must in addition be a TARGET Day.

"TARGET Day" means any day on which the Trans-European Automated Real-time Gross Settlement Express Transfer System (TARGET) is open for payments.

under this Loan Agreement is Frankfurt am Main, Federal Republic of Germany.

becomes invalid, or if there is a gap in any of the provisions of this Loan Agreement, this will not affect the validity of the remaining provisions hereof. The parties to this Loan Agreement will replace any invalid provision by a legally valid one which comes as close as possible to the spirit and purpose of the invalid provision. The parties will fill any gap in the provisions with a legally valid provision which comes as close as possible to the spirit and purpose of this Loan Agreement.

must be in writing. The parties may waive the written form requirement only in writing.

mortgage any claims from this Loan Agreement.

after five years from the end of the year in which such claim has arisen and in which KfW has become aware of the circumstances constituting such claim or could have become aware of them without gross negligence.

in future in any jurisdiction claim immunity for itself or its assets and to the extent that a jurisdiction grants immunity to the Borrower and its assets from suit, execution, attachment or other legal process, the Borrower irrevocably agrees to waive such immunity for claims from and in connection with this Loan Agreement to the fullest extent permitted by the laws of such jurisdiction. Foregoing waiver of immunity shall not apply to property which is (i) used by a diplomatic, consular or special mission and missions of international organizations or international conferences of the Borrower’s Country or (ii) of a military character and under the control of a military authority.

Arbitration. All disputes arising out of or in connection with this Loan Agreement will be settled exclusively and finally by an arbitration tribunal. In this regard, the following will apply:

force and effect until

letter in form and substance similar to the letter set out in Annex 4 to the Loan Agreement. Done in 4 originals in the English language.

Frankfurt am Main Belgrade

this 27th day of December 2024 this 27 day of December 2024

KfW For the Republic of Serbia

Signature Sign ature

Klaus Müller SINIŠA MALI

Name Name (in clear script) (in clear script)

Director FIRS T DEPUTY PRIME MINISTER

Title Title AND MINISTER OF FINANCE (in clear script) (in clear script)

Second signature KfW

Signature

Valerie Wang

Name (in clear script)

Portfolio Manager

Title (in clear script)

Annex 1

Disbursement schedule

Fastest possible Disbursement Schedule

Until the end of each disbursement period ("Effective Date of End of Period" in accordance with the list below) the Borrower may request disbursements only up to a level that does not exceed the cumulative sum of disbursements specified in the following table.

(slovima: sedamdeset miliona evra).

samouprave u Republici Srbiji koje odabere Zajmoprimac konsultovavši se sa KfW-om (svaki grad/opština, pojedinačno, u daljem tekstu: „Opština”, zajedno u daljem tekstu: „Opštine”) i njihovim odgovarajućim javnim komunalnim preduzećima zaduženim za upravljanje otpadnim vodama (u daljem tekstu: „Agencije za sprovođenje Programa” i pojedinačno u daljem

tekstu: „Agencija za sprovođenje Programa”) u skladu sa uslovima navedenim

u članu 2.

Zajmoprimac, koga u ovom slučaju, predstavlja Ministarstvo građevinarstva, saobraćaja i infrastrukture (u daljem tekstu: „MGSI”) će obezbediti da svaka opština i/ili Agencija za sprovođenje Programa, u zavisnosti od slučaja, zajam koristi isključivo za finansiranje mera implementacije i unapređenja infrastrukture otpadnih voda, mera energetske efikasnosti kao i pratećih mera (u daljem tekstu: „Program”).

implementaciju Programa (u daljem tekstu: „Jedinica za implementaciju Programa”), Opštine i Agencije za sprovođenje Programa i KfW odrediće detalje Programa, kao i robu i usluge koji će se finansirati iz Zajma posebnim sporazumima (svaki, pojedinačno, u daljem tekstu: „Poseban sporazum”, zajedno u daljem tekstu: „ Posebni sporazumi”).

bilo koja Opština ili Agencija za sprovođenje Programa, kao ni carinske dažbine, ne mogu se finansirati iz Zajma. Pored navedenog, robe i usluge uvezene u Republiku Srbiju za potrebe Programa biće oslobođene plaćanja carine, a promet dobara, usluga i opreme za potrebe Programa biće oslobođen plaćanja poreza na dodatu vrednost u Republici Srbiji.

Opštinama i Agencijama za sprovođenje Programa u vidu zajma prema uslovima definisanim u članovima 5.1 i 6.1 ovog sporazuma o zajmu, i najmanje 70% kao grant. Dalje pojedinosti će biti definisane pojedinačnim Posebnim ugovorima i posebnim ugovorima o donacijama i o prenošenju sredstava koje će zaključiti Zajmoprimac, svaka Opština i njena Agencija za sprovođenje Programa (ugovori o donacijama i o prenošenju sredstava u daljem tekstu će biti označeni kao „Trilateralni ugovori”, pojedinačno u

daljem tekstu: „Trilateralni ugovor”).

Agencijama za sprovođenje Programa, Zajmoprimac će, kojeg u ovom slučaju predstavlja MGSI, dostaviti KfW-u overeni prevod odgovarajućeg Trilateralnog ugovora na engleski jezik, kao što je navedeno

u članu 2.

1 ovog sporazuma. Pre bilo kakve dalje isplate zajma drugim Opštinama i njihovim Agencijama za sprovođenje Programa, Zajmoprimac će dostaviti KfW-u primerke overenih prevoda odgovarajućih Trilateralnih ugovora na engleski jezik.

Prenošenje sredstava iz Zajma po osnovu Trilaterlnih ugovora neće imati za posledicu bilo kakvo preuzimanje obaveza od strane Opština ili njihovih Agencija za sprovođenje Programa prema KfW-u u pogledu obaveza plaćanja u skladu sa ovim sporazumom o zajmu, ali ih neće osloboditi obaveza plaćanja prema Zajmoprimcu na osnovu odgovarajućeg Trilateralnog ugovora.

članu 3.3

ovog sporazuma (Uslovi koji prethode isplati), KfW će isplatiti Zajam u skladu sa napretkom Programa i na zahtev Zajmoprimca kog u ovom smislu zastupa MGSI. Isplate će biti izvršene u skladu sa Planom isplate koji je dat u Prilogu 1 (Plan isplate) uz ovaj sporazum o zajmu. KfW će izvršiti isplate samo do maksimalnih iznosa utvrđenih za svaki period isplate naveden u Prilogu 1. U meri u kojoj Zajmoprimac bude zahtevao isplatu manjih iznosa u toku bilo kog takvog perioda, neisplaćeni iznosi se mogu zahtevati tokom bilo kog od narednih perioda. Uz izuzetak poslednje isplate, KfW nije u obavezi da izvrši isplate vrednosti ispod 350.000,00 evra.

isplatu posle 30. juna 2030. godine. KfW i Zajmoprimac se mogu dogovoriti o produžetku ovog roka u pisanoj formi putem razmene pisama.

sporazumom o zajmu isključivo ukoliko su ispunjeni sledeći uslovi koji prethode isplati, i to u obliku i sadržaju koji su prihvatljivi za KfW:

KfW ima pravo da pre početka bilo koje isplate sredstava iz Zajma zahteva dodatna dokumenta i dokaze koje prema svom diskrecionom pravu (postupajući u razumnoj meri u skladu sa regulativama i politikama koje se primenjuju na KfW i/ili u međunarodnoj bankarskoj praksi) smatra neophodnim kako bi potvrdio ispunjenost uslova koji prethode isplati navedenoj u ovom odeljku.

MGSI, Opštine i njihove Agencije za sprovođenje Programa, i KfW će utvrditi pojedinosti procedure isplate u Posebnim sporazumima i, posebno, dokaze koje Zajmoprimac, preko MGSI, treba da dostavi kojima se potvrđuje da se zahtevani iznosi Zajma koriste u dogovorene svrhe.

prema

članu 11

(Posebne obaveze) ovog sporazuma o zajmu, Zajmoprimac može da odustane od isplate neisplaćenih iznosa Zajma uz prethodnu saglasnost KfW-a uz plaćanje Naknade za odustajanje od isplate u skladu sa i na način definisan

u članu 3.

6 (Naknada za odustajanje od isplate) ovog sporazuma o zajmu.

nekog iznosa Zajma za koji je određena kamata u skladu sa

članom 3.5

(Pravo na odustajanje od isplate) ovog sporazuma o zajmu, ili ukoliko takav iznos Zajma uopšte nije isplaćen, ili ukoliko nije isplaćen u roku navedenom

u članu 3.

2 (Rok za podnošenje zahteva za isplatu) ovog sporazuma o zajmu, Zajmoprimac će bez odlaganja platiti KfW-u, na njegov zahtev, iznos koji je neophodan da bi se KfW-u nadoknadili svi gubici, izdaci ili troškovi koje KfW snosi kao posledicu neisplaćivanja takvog iznosa Zajma (u daljem tekstu: „Naknada za odustajanje od isplate”), osim ako takvo neisplaćivanje sredstava ne čini kršenje ovog sporazuma o zajmu od strane KfW-a. KfW će obračunati iznos Naknade za odustajanje od isplate i o tome obavestiti Zajmoprimca. Naknada za odustajanje od isplate biće određena kao da Savezna Republika Nemačka nije obezbedila subvencionisanu kamatu za Program.

proviziju na nepovučena sredstva Zajma u iznosu od 0,25% godišnje (u

daljem tekstu: „Provizija na nepovučena sredstva”).

Provizija na nepovučena sredstva dospeva za plaćanje polugodišnje, na dan

15. maj i 15. novembar svake godine, a prvi put 15. maja 2026. godine, ali ne pre od odgovarajućeg datuma koji sledi nakon dana kada ovaj sporazum o zajmu stupi na snagu i proizvodi pravno dejstvo, shodno

članu 15.10

(Stupanje na snagu) ovog sporazuma o zajmu.

Provizija na nepovučena sredstva će biti obračunata, ukoliko je primenjivo, sa retroaktivnim dejstvom za period koji počinje dvanaest meseci nakon potpisivanja ovog sporazuma o zajmu i traje do datuma isplate sredstava Zajma u celosti ili, ukoliko je primenjivo, do datuma definitivnog otkazivanja isplate Zajma.

jednokratni paušalni iznos na ime provizije za organizovanje posla u iznosu od 0,5% iznosa Zajma, navedenog

u članu 1.

1 (Iznos) ovog sporazuma (u

daljem tekstu: „Provizija za organizovanje posla”).

Provizija za organizovanje posla najranije dospeva na plaćanje na sledeća dva datuma: (i) pre prve isplate ili (ii) nakon isteka perioda od tri meseca od potpisivanja ovog sporazuma o zajmu od strane KfW-a ili nakon isteka perioda od mesec dana od stupanja na snagu i početka pravnog dejstva ovog sporazuma o zajmu (koji god od datuma navedenih pod (ii) nastupa kasnije). Provizija za organizovanje posla dospeva na naplatu čim ovaj sporazum o zajmu bude potpisan bez obzira na to da li je Zajam isplaćen u celosti ili delom ili uopšte.

Ako kamatna stopa obračunata u skladu sa gore navedenim padne ispod 0% godišnje, Fiksna kamatna stopa će biti 0% godišnje.

Ovako određena fiksna kamatna stopa primenjivaće se sve dok se ne primi poslednja rata otplate u skladu sa planom otplate iz

člana 6.1

(Plan otplate) ovog sporazuma o zajmu.

datuma (ne uključujući taj dan) kada je odgovarajući iznos Zajma isplaćen sa računa Zajma koji je KfW otvorio za Zajmoprimca do datuma (uključujući taj dan) kada su pojedinačne rate otplate Zajma uplaćene na račun KfW-a naveden

u članu 7.

3 (Broj računa, vreme uplate) ovog sporazuma o zajmu. Kamata će se obračunavati u skladu sa

članom 7.1

(Obračun) ovog sporazuma o zajmu.

navedene ispod (svaki u daljem tekstu: „Datum plaćanja"):

15.

Ovaj Plan otplate može biti izmenjen s vremena na vreme u skladu sa

članom 6.5

(Revidirani Plan otplate).

otplate koja poslednja dospeva u skladu sa odgovarajućim Planom otplate, utvrđenim

u članu 6.

1 (Plan otplate) ovog sporazuma o zajmu, osim ako KfW po sopstvenom nahođenju, nakon prethodne konsultacije sa Zajmoprimcem, ne izabere neki drugi način saldiranja u pojedinačnim slučajevima.

pre nego što je Zajam isplaćen u celini, to neće uticati na Plan otplate naveden

u članu 6.

1 (Plan otplate) ovog sporazuma o zajmu sve dok odgovarajuća rata otplate koja dospeva za plaćanje prema Planu otplate bude manja od iznosa Zajma koji je isplaćen ali još nije otplaćen (u daljem tekstu: „Neotplaćen iznos Zajma”). Ukoliko rata otplate koja dospeva u skladu sa

članom 6.1

(Plan otplate) ovog sporazuma o zajmu premaši Neotplaćen iznos Zajma, rata otplate će se smanjiti na iznos Neotplaćenog iznosa Zajma, a razlika će biti ravnomerno dodeljena ratama otplate koje su još neotplaćene. Prilikom obračuna Neotplaćenog iznosa Zajma, KfW zadržava pravo da razmotri isplate iz Zajma izvršene u periodu od 45 ili manje dana pre Datuma plaćanja kako bi utvrdio iznos Neotplaćenog iznosa Zajma samo za sledeći Datum plaćanja.

(Otplata u slučaju nepotpune isplate) ili

članom 6.4

(Prevremena otplata), KfW će Zajmoprimcu poslati revidirani plan otplate koji će činiti sastavni deo ovog sporazuma o zajmu i zameniti svaki plan otplate koji se primenjuje u trenutku takve zamene nakon poslednje isplate prema Zajmu od strane KfW- a.

skladu sa

članom 7.5

(Zatezna kamata) ovog sporazuma o zajmu, paušalna naknada za neplaćene iznose u skladu sa

članom 7.6

(Paušalna naknada) ovog sporazuma o zajmu, Naknada za odustajanje od isplate i Naknada za prevremenu otplatu obračunavaće se na osnovu godine u trajanju od 360 dana sa mesecima u trajanju od 30 dana.

ovom sporazumu o zajmu dospeva na dan koji nije radni dan banaka, Zajmoprimac će takvo plaćanje izvršiti sledećeg radnog dana banaka. Ukoliko sledeći radni dan banaka pada narednog kalendarskog meseca, takvo plaćanje mora biti izvršeno poslednjeg radnog dana banaka tekućeg kalendarskog meseca.

koje proizilaze iz ovog sporazuma o zajmu čim se utvrdi da su odgovarajući iznosi uplaćeni KfW-u i da su na raspolaganju KfW-u bez ikakvih umanjenja iznosa u evrima, da je uplata izvršena najkasnije do 10 sati pre podne u Frankfurtu na Majni, Savezna Republika Nemačka, na račun KfW-a u Frankfurtu na Majni, Savezna Republika Nemačka, broj IBAN DE 92 5002 0400 3122 3012 32 uz naznaku datuma dospeća kao dodatne reference („Ref. godina/ mesec/dan”).

zadržavanje ili saldiranje iznosa ili slična prava u odnosu na obavezu plaćanja prema ovom sporazumu o zajmu, osim ukoliko su takva prava (i) ustanovljena putem konačne i obavezujuće (rechtskräftig) sudske odluke ili arbitražne odluke ili (ii) nisu osporena od strane KfW-a.

sa

članom 6.4

(Prevremena otplata) ovog sporazuma o zajmu ne bude na raspolaganju KfW-u na dan dospeća, KfW može, bez prethodnog upozorenja, naplatiti zateznu kamatu po stopi od 200 baznih poena na godišnjem nivou iznad kamatne stope navedene

u članu 5

(Kamata) ovog sporazuma o zajmu za period koji počinje na datum dospeća i završava se na dan izvršenja takve uplate na račun KfW-a naveden

u članu 7.

3 (Broj računa, vreme uplate) ovog sporazuma o zajmu. Takva zatezna kamata mora biti plaćena odmah na prvi zahtev KfW-a.

otplate i prevremene otplate navedene

u članu 7.

5 (Zatezna kamata) ovog sporazuma o zajmu) KfW može, bez prethodnog upozorenja, zahtevati uplatu paušalne naknade za period od datuma dospeća do datuma uplate, po stopi od 200 baznih poena na godišnjem nivou iznad Fiksne kamatne stope navedene

u članu 5

(Kamata) ovog sporazuma o zajmu. Paušalna naknada mora biti plaćena odmah na prvi zahtev KfW-a. Zajmoprimac je slobodan da dokaže da nije pričinjena nikakva šteta ili da je vrednost nastale štete manja od iznosa paušalne nadoknade.

plaćanja koja dospevaju prema ovom sporazumu o zajmu.

obračunate od strane KfW-a i obračuni izvršeni od strane KfW-a neizmirenih dospelih plaćanja u vezi sa ovim sporazumom o zajmu čine prima-facie dokaz (Anscheinsbeweis).

KfW će za isplatu iznosa prema ovom sporazumu o zajmu pribaviti garanciju Savezne Republike Nemačke pre prve isplate.

Ukoliko, prema bilo kojoj važećoj nadležnosti, za KfW postane nezakonito da vrši svoje obaveze kako je predviđeno ovim sporazumom o zajmu, ili finansira ili održava Zajam, nakon što KfW obavesti Zajmoprimca:

U svom obaveštenju KfW će dati objašnjenje u vezi sa nezakonitim događajem.

Radi izbegavanja sumnje, bilo kakvo otkazivanje na osnovu ovog sporazuma o zajmu podleže

članu 3.6

(Naknada za odustajanje od isplate) i bilo koja otplata Zajma prema ovom sporazumu o zajmu predstavlja prevremenu otplatu i biće predmet odredbi definisanih

u članu 6.

4 c) (Naknada za prevremenu otplatu) i d) (Dospeli iznosi).

sporazumu o zajmu bez odbitaka na ime poreza, drugih javnih dažbina ili drugih troškova. U slučaju da Zajmoprimac ima zakonsku ili obavezu druge vrste da izvrši takav odbitak ili umanjenje plaćanja, Zajmoprimac će uvećati takve iznose, koliko je potrebno, kako bi KfW primila u celosti iznose koji dospevaju prema ovom sporazumu o zajmu nakon odbitaka na ime poreza i dažbina.

isplatom i otplatom Zajma, posebno troškove doznačavanja i prenosa (uključujući i proviziju za konverziju), kao i sve troškove i rashode koji nastanu u vezi sa održavanjem ili izvršenjem ovog sporazuma o zajmu i sa njim bilo kog povezanog dokumenta, kao i sva prava koja iz toga proističu.

nastale van Savezne Republike Nemačke u vezi sa zaključivanjem i izvršenjem ovog sporazuma o zajmu. Ukoliko KfW unapred plati iznos takvih poreza ili dažbina, Zajmoprimac će bez odlaganja, odmah po zahtevu KfW-a uplatiti pomenuti iznos na račun KfW-a naveden

u članu 7.

3 (Broj računa, vreme uplate) ovog sporazuma o zajmu ili na drugi račun koji precizira KfW.

smislu predstavlja MGSI, će obezbediti da Opštine i njihove Agencije za sprovođenje Programa: