Each of the Project Entity and the Beneficiary (as each defined above) shall, for the purposes of the Standard Terms and Conditions, be deemed to constitute a “Project Entity.

The Minimum Drawdown Amount shall be EUR 100,000.

The Minimum Prepayment Amount shall be EUR 1,000,000.

The Minimum Cancellation Amount shall be EUR 1,000,000.

The Interest Payment Dates shall be 15 May and 15 November of each year.

(1) The Borrower shall repay the Loan in 22 equal (or as nearly equal as possible) semi-annual instalments on 15 May and 15 November of each year, with the first Loan Repayment Date being 15 May 2030 and the last Loan Repayment Date 15 November 2040.

The Last Availability Date shall be the date falling on the fourth anniversary of the signing of this Agreement, or such later date that the Bank may in its discretion establish and notify to the Borrower. Any extension of the Last Availability Date will be effected through the means of exchange of letters between the Bank and the Borrower in accordance with Section 3.01(a) of the Standard Terms and Conditions.

The rate of the Commitment Charge shall be 0.5% per annum.

The Loan is subject to a Variable Interest Rate. Notwithstanding the foregoing, the Borrower may, as an alternative to paying interest at a Variable Interest Rate on all or any portion of the Loan then outstanding, elect to pay interest at a Fixed Interest Rate on such portion of the Loan in accordance with Section 3.04(c) of the Standard Terms and Conditions.

The Available Amount may be drawn down from time to time in accordance with the provisions of Schedule 2 to finance (1) expenditures made (or, if the Bank so agrees, to be made) in respect of the reasonable cost of goods, works and services required for the Project, and (2) the Front-end Commission.

The Borrower hereby authorises the Bank to draw down from the Available Amount an amount equal to the Front-end Commission and pay to itself the Front- end Commission on behalf of the Borrower.

Cause all goods, works and services financed out of the proceeds of the Loan to be used exclusively for the purposes of the Project;

Delegate to the Project Entity the day-to-day management of the Project, including without limitation, consolidated financial and procurement management;

Support, cause and enable the Project Entity to perform all of its obligations under the Project Agreement, including without limitation, its obligations relating to:

Use its best effort to provide or cause to be provided, when requested, all governmental licenses, approvals or consents required for the financing and carrying out the Project, and for the conduct of its business, including approvals and licenses necessary including the rights of way and other land-use rights required for the Project;

Take, or cause to be taken, all additional action necessary to provide adequate funds for the completion of the Project, including, in particular, the government contributions, if required, in the form and to the extent agreed at such time; and

Exempt from taxes (including, without limitation, VAT) and duties (including, without limitation, any customs duties) all goods, works and services (including consultancy services), procured by the Project Entity for the Project and financed from the proceeds of the Loan.

The legislative and regulatory framework applicable to the irrigation and construction sector in the territory of the Borrower shall have been amended, suspended, abrogated, repealed or waived in a manner other than as approved by the Bank in writing;

The Statutes shall have been amended, suspended, abrogated, repealed or waived; and

Control of the Project Entity shall have been transferred to a party other than the Borrower.

any event specified in

Section 4.01

shall have occurred and shall have continued without remedy for thirty (30) days after notice thereof shall have been given by the Bank to the Borrower.

ratification of this Agreement by the Parliament of the Republic of Serbia and publication of such ratification in the Official Gazette of the Republic of Serbia;

the Project Agreement, in form and substance satisfactory to the Bank, has been executed and delivered; and

each of the opinions specified in

Section 5.04

of this Agreement has been delivered to the Bank in a form and substance satisfactory to the Bank.

The Bank shall have received satisfactory evidence that the Borrower, acting through the Beneficiary and Project Entity, has established a Project Implementation Unit (as set out in the Project Agreement) with adequate resources and suitably qualified personnel, and it is operational;

The Bank shall have received satisfactory evidence that the Project Entity has appointed suitably qualified consultants to support the Project implementation; and

the Bank shall have received, in form and substance satisfactory to the Bank, any other conditions precedent the Bank may, at its sole discretion, reasonably require.

The Bank has confirmed to the Borrower that it is satisfied with the Borrower’s (acting through the Beneficiary and Project Entity) compliance with the Environmental and Social Action Plan (as set out in the Project Agreement); and

The Bank shall have received satisfactory evidence that the Borrower, acting through the Beneficiary and Project Entity, has appointed supervision consultants (as set out in the Project Agreement).

For purposes of Section 9.03(a) of the Standard Terms and Conditions, the opinion shall be given on behalf of the Borrower by the Minister of Justice, confirming that this Agreement has been duly authorised by the Borrower and constitutes a valid and legally binding obligation of the Borrower enforceable in accordance with its terms.

For purposes of Section 9.03(c) of the Standard Terms and Conditions, the opinion shall be given on behalf of the Project Entity by the head of its legal department confirming that the Project Agreement has been duly authorised by the Project Entity and constitutes valid and legally binding obligations of the Project Entity enforceable in accordance with its terms.

For purposes of Section 9.03(a) of the Standard Terms and Conditions, the opinion shall be given on behalf of the Beneficiary by the Minister of Justice, confirming that the Project Agreement has been duly authorised by the Beneficiary and constitutes a valid and legally binding obligation of the Beneficiary enforceable in accordance with its terms.

The following addresses are specified for purposes of Section 10.01 of the Standard Terms and Conditions, except that any notice shall be deemed to be delivered if by hand, mail, or in pdf or similar format by electronic mail:

The Bank may invite the Borrower to register to use ClientNet or another form of electronic communication and, if the Borrower and the Bank agree to use ClientNet or such other form of electronic communication, any notice, application or other communication from the Borrower to the Bank or from the Bank to the Borrower (other than any notice, application or other communication that is required by this Agreement or the Project Agreement to be in an original, certified or hard copy), may, subject to the terms and conditions of ClientNet or such other form of electronic communication, be given or made by posting such notice, application or other communication on ClientNet or sent in accordance with the terms agreed concerning such other form of electronic communication.

Any notice, application or other communication delivered by hand, airmail or facsimile transmission or via ClientNet or another agreed form of electronic communication will only be effective when actually received (or made available) in readable form, provided that any notice, application or other communication that is received (or made available) after 5:00 p.m. in the place in which the party to whom the relevant notice, application or communication is sent has its address for the purpose of this Agreement shall be deemed only to become effective on the following day.

Promptly following the execution of the Agreement, the Borrower, Beneficiary, and the Project Entity shall indicate to the Bank the names, titles and email addresses of the persons designated as the initial contacts of the Borrower for purposes of any invitation the Bank may send to the Borrower regarding ClientNet in the form of the table below.

Za potrebe Standardnih uslova poslovanja, svako od Projektnog subjekta i Korisnika (kao što je svako napred definisan) će se smatrati kao Projektni subjekt.

Minimalni iznos za povlačenje je 100.000 EUR.

Minimalni iznos prevremenog plaćanja je 1.000.000 EUR.

Minimalni iznos koji se može otkazati je 1.000.000 EUR.

Datumi za plaćanje kamate su 15. maj i 15. novembar svake godine.

(1) Zajmoprimac je dužan da Zajam otplati u 22 jednake (ili približno jednake, u mogućoj meri) polugodišnje rate, 15. maja i 15. novembra svake godine, pri čemu je prvi Datum otplate Zajma 15. maj 2030. godine, a poslednji Datum otplate Zajma 15. novembar 2040. godine.

Krajnji datum raspoloživosti biće datum koji pada na četvrtu godišnjicu od datuma potpisivanja ovog ugovora ili neki kasniji datum koji Banka može po svom nahođenju da utvrdi i o tome obavesti Zajmoprimca. Svaki produžetak Krajnjeg datuma raspoloživosti biće izvršen putem razmene pisama između Banke i Zajmoprimca u skladu sa

Odeljkom 3.01(a)

Standardnih uslova poslovanja.

Stopa provizije na nepovučeni deo zajma iznosi 0,5% na godišnjem nivou.

Zajam podleže Varijabilnoj kamatnoj stopi. Bez obzira na prethodno navedeno, Zajmoprimac može, kao alternativu plaćanja kamate po Varijabilnoj kamatnoj stopi na ceo iznos Zajma ili na bilo koji njegov deo koji u tom trenutku bude neotplaćen, odabrati da plati kamatu po Fiksnoj kamatnoj stopi na taj deo Zajma, u skladu sa Odeljkom 3.04(c) Standardnih uslova poslovanja.

Raspoloživi iznos Zajma može se povlačiti povremeno u skladu sa odredbama iz Priloga 2 za finansiranje (1) troškova nastalih (ili, ako se Banka saglasi, budućih troškova) po osnovu razumnih cena robe, radova i usluga potrebnih za Projekat, i (2) Upisne provizije.

Zajmoprimac ovim daje saglasnost Banci da iz Raspoloživog iznosa povuče iznos jednak Upisnoj proviziji i sebi isplati Upisnu proviziju u ime Zajmoprimca.

Omogućiti da se sva roba, radovi i usluge koja se finansiraju iz sredstava Zajma koriste isključivo u svrhe Projekta;

Preneti na Projektnog subjekta svakodnevno upravljanje Projektom, uključujući, ali ne ograničavajući se na, konsolidovano upravljanje finansijama i nabavkama;

Podržati, omogućiti i učiniti da Projektni subjekt izvrši sve svoje obaveze prema Ugovoru o projektu, uključujući, ali ne ograničavajući se na, svoje obaveze koje se odnose na:

Uložiti sve napore da se obezbedi ili omogući da se obezbede, kada se zahteva, sve državne dozvole, odobrenja ili saglasnosti potrebne za finansiranje i sprovođenje Projekta i za obavljanje svojih poslova, uključujući sva odobrenja i dozvole koje su neophodne i druga prava korišćenja zemljišta neophodna za Projekat;

Preduzimati ili učiniti da se preduzmu sve dodatne radnje kako bi se obezbedila adekvatna sredstva za završetak Projekta, uključujući, posebno, državne doprinose, ukoliko bude potrebno, u obliku i u obimu dogovorenom u tom trenutku; i

Osloboditi od poreza (uključujući, ali ne ograničavajući se na, porez na dodatu vrednost) i carinskih dažbina (uključujući, ali ne ograničavajući se na, bilo koje carinske dažbine) sva dobra, radove i usluge (uključujući konsultantske usluge) koje je pribavio Projektni subjekat za Projekat i finansira se iz sredstava Zajma.

Ukoliko zakonodavni i regulatorni okvir koji se primenjuje na sektore navodnjavanja i građevinarstva na teritoriji Zajmoprimca bude izmenjen, obustavljen, stavljen van snage, opozvan ili se od njega odustane na način koji nije pismeno odobrila Banka;

Ukoliko Statuti budu izmenjeni, obustavljeni, stavljeni van snage, opozvani ili se od njih odustane; i

Ukoliko kontrola Projektnog subjekta bude preneta nekoj strani koja nije Zajmoprimac.

ukoliko nastupi bilo koji slučaj naveden u

Odeljku 4.01

i ne otkloni se za trideset

Narodna skupština Republike Srbije je ratifikovala ovaj ugovor i njegova ratifikacija je objavljena u Službenom glasniku Republike Srbije;

Ugovor o projektu, u formi i sadržaju zadovoljavajućim za Banku, je potpisan i dostavljen; i

svako od mišljenja navedenih u

Odeljku 5.04

ovog ugovora je dostavljeno Banci u formi i sadržaju zadovoljavajućim za Banku.

Banka će dobiti zadovoljavajući dokaz da je Zajmoprimac, postupajući preko Korisnika i Projektnog subjekta, osnovao Jedinicu za implementaciju Projekta (kako je utvrđeno Ugovorom o projektu) sa adekvatnim resursima i odgovarajućim kvalifikovanim osobljem, i da je operativna;

Banka će dobiti zadovoljavajući dokaz da je Projektni subjekt imenovao odgovarajuće kvalifikovane konsultante za podršku u realizaciji Projekta; i

Banka će dobiti, u formi i sadržaju zadovoljavajućim za Banku, sve druge prethodne uslove koje Banka može, prema sopstvenom nahođenju, razumno da zatraži.

Banka je potvrdila Zajmoprimcu da je zadovoljna stepenom usaglašenosti Zajmoprimca (postupajući preko Korisnika ili Projektnog subjekta) sa Ekološkim i socijalnim akcionim planom (kako je utvrđeno Ugovorom o projektu); i

Banka će dobiti zadovoljavajući dokaz da je Zajmoprimac, postupajući preko Korisnika i Projektnog subjekta, imenovao konsultante za nadzor (kako je utvrđeno Ugovorom o projektu).

U svrhe Odeljka 9.03(a) Standardnih uslova poslovanja, mišljenje u ime Zajmoprimca daje Ministar pravde, potvrđujući da je ovaj ugovor propisno odobren od strane Zajmoprimca i da predstavlja punovažne i pravno obavezujuće obaveze Zajmoprimca, izvršive u skladu sa njegovim uslovima.

U svrhe Odeljka 9.03(c) Standardnih uslova poslovanja, mišljenje u ime Projektnog subjekta daje rukovodilac pravnog sektora, potvrđujući da je Ugovor o projektu propisno odobren od strane Projektnog subjekta i da predstavlja punovažne i pravno obavezujuće obaveze Projektnog subjekta, izvršive u skladu sa njegovim uslovima.

U svrhe Odeljka 9.03(a) Standardnih uslova poslovanja, mišljenje u ime Korisnika daje Ministar pravde, potvrđujući da je Ugovor o projektu propisno odobren od strane Korisnika i da predstavlja punovažne i pravno obavezujuće obaveze Korisnika, izvršive u skladu sa njegovim uslovima.

Sledeće adrese se navode u svrhe Odeljka 10.01 Standardnih uslova poslovanja, s tim što će se smatrati da su obaveštenja isporučena ako su uručena lično, poštom ili elektronskom poštom u pdf ili sličnom formatu:

Banka može pozvati Zajmoprimca da se registruje za korišćenje sistema ClientNet ili nekog drugog oblika elektronske komunikacije i, ukoliko se Zajmoprimac i Banka saglase da koriste ClientNet ili neki drugi oblik elektronske komunikacije, svako obaveštenje, zahtev ili druga komunikacija od strane Zajmoprimca prema Banci ili od strane Banke prema Zajmoprimcu (osim obaveštenja, zahteva ili druge komunikacije za koje je ovim Ugovorom ili Projektnim ugovorom propisano da moraju biti dostavljeni u originalu, overeni ili u papirnoj formi), može se, u skladu sa uslovima i odredbama sistema ClientNet ili nekog drugog oblika elektronske komunikacije, dostaviti ili sačiniti objavljivanjem takvog obaveštenja, zahteva ili druge komunikacije na ClientNet-u ili slanjem u skladu sa dogovorenim uslovima koji se odnose na takav drugi oblik elektronske komunikacije.

Svako obaveštenje, zahtev ili druga komunikacija dostavljeni lično, vazdušnom poštom, faksimilom ili putem sistema ClientNet ili drugog dogovorenog oblika elektronske komunikacije, proizvodiće pravno dejstvo tek kada budu stvarno primljeni (odnosno učinjeni dostupnim) u čitljivom obliku, pod uslovom da će se svako obaveštenje, zahtev ili druga komunikacija koji budu primljeni (odnosno učinjeni dostupnim) nakon 17:00 časova u mestu u kome strana kojoj se relevantno obaveštenje, zahtev ili komunikacija upućuju ima svoju adresu za potrebe ovog Ugovora, smatrati da proizvode pravno dejstvo tek narednog dana.

Odmah nakon zaključenja ovog Ugovora, Zajmoprimac, Korisnik i Projektni subjekat dostaviće Banci imena, zvanja i adrese elektronske pošte lica određenih kao početne kontakt-osobe Zajmoprimca za potrebe svakog poziva koji Banka može uputiti Zajmoprimcu u vezi sa sistemom ClientNet, u formi tabele navedene u nastavku.