HOT ĂRÂREA NR. 413 - primariacraiova.ro · by Antonie Solomon, in its capacity as mayor of the...

MUNICIPIUL CRAIOVA CONSILIUL LOCAL AL MUNICIPIULUI CRAIOVA

HOTĂRÂREA NR. 413 privind aprobarea actului adiţional la contractul de împrumut la termen

nr.167199/02.12.2010

Consiliul Local al Municipiului Craiova, întrunit în şedinţa ordinară din data de 24.11.2011;

Având în vedere rapoartele nr.165895/2011 al Direcţiei Economico – Financiare şi nr. 166154/2011al Direcţiei Juridice prin care se propune aprobarea actului adiţional la contractul de împrumut la termen nr.167199/02.12.2010 încheiat între Municipiul Craiova şi HYPO NOE GRUPPE BANK AG;

În conformitate cu prevederile Legii nr.273/2006 privind finanţele publice locale, modificată şi completată şi art.2323, art.2387-2477 din Noul Cod Civil aprobat prin Legea nr.287/2009;

Potrivit Hotărârilor Consiliului Local al Municipiului Craiova nr.113/2009 referitoare la aprobarea Studiului de Fezabilitate “Amenajare ştrand în Parcul Lunca Jiului”, modificată prin Hotărârea Consiliului Local al Municipiului Craiova nr.344/2011, nr.497/2009 referitoare la aprobarea Proiectului „Craiova Water Park – complex agrement acvatic în Parcul Tineretului din municipiul Craiova”, modificată prin Hotărârile Consiliului Local al Municipiului Craiova nr.222/2011 şi nr.344/2011, nr.348/2009 privind contractarea unei finanţări rambursabile în valoare de 20.000.000 euro, modificată prin Hotărârea Consiliului Local al Municipiului Craiova nr.344/2011, nr.334/2010 privind încheierea contractului de împrumut cu HYPO NOE GRUPPE BANK AG, pentru finanţarea rambursabilă în sumă de 11.676.010 euro pentru “Centru multifuncţional Craiova – Pavilion Central”, modificată prin Hotărârea Consiliului Local al Municipiului Craiova nr.426/2010 referitoare la schimbarea denumirii instituţiei bancare din HYPO INVESTMENT BANK AG, în HYPO NOE GRUPPE BANK AG; În temeiul prevederilor art.36 alin.2 lit.b, coroborat cu alin.4 lit.b art.45 alin.2, lit.b art.61 alin 2 din Legea nr.215/2001, republicată, privind administraţia publică locală;

HOTĂRĂŞTE: Art.1. Se aprobă încheierea actului adiţional nr. 1 pentru modificarea şi completarea

contractului de împrumut la termen nr.167199/02.12.2010, încheiat între Municipiul Craiova şi HYPO NOE GRUPPE BANK AG, pentru suma de 11.676.010 Euro (Facilitatea A), prin completarea sumei împrumutate cu diferenţa de 8.323.990 Euro (Facilitatea B), pentru o perioadă de 20 de ani, pentru a ajunge la suma totală de 20.000.000 Euro, conform Hotărârii Consiliului Local al Municipiului Craiova nr.348/2009, cu modificările

ulterioare, inclusiv toate costurile şi condiţiile de finanţare aferente pentru finanţarea obiectivului de investiţii „Craiova Water Park – complex agrement acvatic în Parcul Tineretului din municipiul Craiova”, prevăzut în anexa nr. 1 care face parte integrantă din prezenta hotărâre.

Art.2. Se aprobă încheierea acordului de garantare prin veniturile proprii ale Municipiului Craiova, prevăzute la art.5 alin.1, lit.a din Legea nr.273/2006 şi de ipotecă mobiliară, pentru garantarea obligaţiilor de rambursare şi de plată aferente sumei împrumutate în valoare de 8.323.990 Euro (Facilitatea B), prevăzut în anexa nr. 2 care face parte integrantă din prezenta hotărâre.

Art.3. Se împuterniceşte Primarul Municipiului Craiova să semneze actul adiţional nr.1 şi acordul de garantare, prevăzute în anexele nr. 1 şi 2 la prezenta hotărâre, precum şi orice alte cereri sau documente în temeiul, în executarea sau în legătură cu acestea.

Art.4. Prin grija Serviciului Administraţie Publică Locală prezenta hotărâre va fi comunicată către HYPO NOE GRUPPE BANK AG.

Art.5. Primarul Municipiului Craiova, prin aparatul de specialitate: Serviciul Administraţie Publică Locală, Direcţia Economico – Financiară şi Direcţia Juridică vor aduce la îndeplinire prevederile prezentei hotărâri.

PREŞEDINTE DE ŞEDINŢĂ, CONTRASEMNEAZĂ, SECRETAR,

Niuri Radu Valenţiu ŢUI Nicoleta MIULESCU

DRAFT#9Subject to further review and amendments

16.11.2011HYPO-RO/22009

nr. 1 la contractul de împrumut la termen nr. 167199 din 02.12.2010

Addendum no. 1 to the Term Loan Facility Agreement no. 167199 of 02.12.2010

între by and between

Municipiul Craiova(în calitate de împrumutat)

the City of Craiova(as borrower)

i and

HYPO NOE Gruppe Bank AG(în calitate de î

HYPO NOE Gruppe Bank AG(as lender)

PREZENTUL (denumit în continuare "Actul ") LA CONTRACTUL DE ÎMPRUMUT NR.

167199/02.12.2010 (denumit în continuare "Contractul Initial")este încheiat la data de […] 2011 între:

THIS ADDENDUM (hereinafter referred to as the "Addendum")TO THE TERM LOAN FACILITY AGREEMENT NO. 167199/02.12.2010 (hereinafter referred to as the "Initial Agreement") is made on […] between:

Municipiul Craiova, având sediul în Craiova, str. A.I. Cuza, nr. 7, 200585, jud. Dolj, cod fiscal 4417214, reprezentat prin Antonie So-lomon, în calitate de primar al Municipiului Craiova, în conformitate cu Hot ea Consiliului Local Craiova nr. […], în calitate de împru-mutat (denumit în continuare "Împrumutatul"),

the City of Craiova, with its registered seat in Craiova, A.I. Cuza str. no. 7, 200585, Dolj county, fiscal code 4417214, represented by Antonie Solomon, in its capacity as mayor of the City of Craiova, in accordance with the decision of Craiova Local Council no. […], as borrower (hereinafter referred to as the "Borrower"),

Anexa1 la HCL 413/2011

Presdinte de sedinta,Niuri Radu Valentiu TUI

- 2 -HYPO-RO/22009/Draft#9 16.11.2011

i and

HYPO NOE Gruppe Bank AGautoriavând sediul social în Kremser Gasse 20, 3100 St. Polten, DVR

o-merciale din St. Pölten, Austria sub nr. FN 99073x n " i-cii în mod direct pe teritoriul României" ca Na-

[…] conformîmputernicirii [Matei Creiveanu - Senior Project Manager] conformîmputernicirii, (denumit în continuare "Împrumut torul").

HYPO NOE Gruppe Bank AG, a credit institution established and authorised in accordance with the laws of Republic of Austria, with its registered seat at Kremser Gasse 20, 3100 St. Polten, DVR 0042862, Austria, registered with the Companies Register of the Commercial Courts of St. Pölten, Austria under no. FN 99073x, registered in the "List of the credit institutions which have notified to the National Bank of Romania the direct provision of services within the territory of Romania" (date of notification to the Na-tional Bank of Romania is 13.07.2007), represented by […], under power of attorney and [Matei Creiveanu - Senior Project Manager]under power of attorney, as lender (hereinafter referred to as the "Lender").

PREAMBUL PREAMBLE

Având în vedere: In consideration of:

(A) Hot , astfel

344/2011, a aprobat contractarea a-loare de 20.000.000 Euro cu o maturitate de 20 de ani, pentru reali-

nteres local:

(A) The Resolution of the Local Council Craiova no. 348/30.07.2009, as amended by the Resolution of the Local Council Craiova no. 344/2011, approved the contracting of a fi-nancing amounting to EUR 20,000,000 having a maturity of 20 years, for the execution of certain public investments of local in-terest:

(i) "Craiova Water Park - Complex de Agreement Acvatic în Parcul Tineretului din Municipiul Craiova

(i) "Craiova Water Park - Complex de Agreement Acvatic în Parcul Tineretului din Municipiul Craiova" having a value of EUR 8,323,990 and

– Pavilion Central" în valoare de 11.676.010 Euro;

(ii) " – Pavilion Central" having a value of EUR 11,676,010;

(B) 86684/18.09.2009 publicat în (B) By the contract notice no 86684/18.09.2009 published in the

- 3 -HYPO-RO/22009/Draft#9 16.11.2011

u-pentru servicii financiare "Contractarea unui împrumut bancar

�G�H��(�X�U�R��S�H�Q�W�U�X��R��S�H�U�L�R�D�G��G�H��G�H��D�Q�L��v�Q��Y�H�G�H�U�H�D��D�Vi-�J�X�U��U�L�L�� I�L�Q�D�Q� ��U�L�L�� X�Q�R�U�� R�E�L�H�F�W�L�Y�H�� G�H�� L�Q�Y�H�V�W�L� �L�L�� G�H�� L�Q�W�H�U�H�V�� S�X�E�O�L�F�� O�R�F�D�O��din Municipiul Cr aiova ";

Electronic System for Public Procurements (Sistemul Electronic de �$�F�K�L�]�L� �L�L�� 3�X�E�O�L�F�H) together with the corresponding awarding documentation, the Borrower initiated the public procurement procedure for financial services "Contr actarea unui împrumut ba n-�F�D�U��G�H�� (�X�U�R��S�H�Q�W�U�X�� R��S�H�U�L�R�D�G��G�H�� G�H��D�Q�L�� v�Q��Y�H�Ge-�U�H�D�� D�V�L�J�X�U��U�L�L�� I�L�Q�D�Q� ��U�L�L�� X�Q�R�U�� R�E�L�H�F�W�L�Y�H�� G�H�� L�Q�Y�H�V�W�L� �L�L�� G�H�� L�Q�W�H�U�H�V�� Su-blic local din Municipiul Crai ova";

(C) , " " Date a

b-

împrumut nu va fi încheiat;

(C) Section III of the Procurement Data Sheet of the awarding documentation "Specific conditions of the contract" sets out that the credit facility agreement will be concluded only after obtaining the autorisation of the commission competent for approving local loans and that in case such authorisation is not obtained, the credit facility agreement will not be concluded;

(D)procedurii de at

Bank AG ( HYPO NOE Gruppe Bank AG), i.e. Îm-,

"Contractarea unui împrumut bancar de 20.000.000 �(�X�U�R��S�H�Q�W�U�X��R��S�H�U�L�R�D�G��G�H��G�H��D�Q�L��v�Q��Y�H�G�H�U�H�D��D�V�L�J�X�U��U�L�L��I�L�Q�D�Q� ��U�L�L��X�Q�R�U��R�E�L�H�F�W�L�Y�H��G�H��L�Q�Y�H�V�W�L� �L�L��G�H��L�Q�W�H�U�H�V��S�X�E�O�L�F��O�R�F�D�O��G�L�Q��0�X�Q�L�F�L�S�L�X�O��&�Ua-iova " a-re cu Împrumutatul pentru suma de 20.000.000 Euro;

(D) Pursuant to the Communication no. 137732/19.11.2009 con-cerning the result of the public procurement procedure issued by " " in Craiova City Hall, HYPO Investment Bank AG (at present named HYPO NOE Gruppe Bank AG), i.e. the Lender, was selected winner in the public procurement procedure "Contractarea unui împrumut ba n-�F�D�U��G�H�� (�X�U�R��S�H�Q�W�U�X�� R��S�H�U�L�R�D�G��G�H�� G�H��D�Q�L�� v�Q��Y�H�Ge-�U�H�D��D�V�L�J�X�U��U�L�L��I�L�Q�D�Q� ��U�L�L��X�Q�R�U��R�E�L�H�F�W�L�Y�H��G�H��L�Q�Y�H�V�W�L� �L�L��G�H��L�Q�W�H�U�H�V��S�Xb-lic local din Municipiul Craiova ", following that the Lender will sign the credit facility agreement with the Borrower for the amount of EUR 20,000,000;

(E) Prin adresa nr. 117565/25.08.2010, Împrumutatul a informat comisia de

autorizare a împrumuturilor locale a cerererii de autorizare a con-

contractele de fi-nan -

(E) By letter no. 117565/25.08.2010, the Borrower informed the Lender that it is not possible for the commission competent for approving local loans to analyze the authorisation request for con-tracting the credit facility agreement of EUR 20,000,000 because the Borrower did not sign with the Regional Development Ministry the financing agreement out of structural (European) funds for

- 4 -HYPO-RO/22009/Draft#9 16.11.2011

bancar de 20.000.000 Euro; z-vol ri structu-

" –Pavilion Central", atul a solicitat frac-

; Împrumutatul a solicitat semnarea mai întâi a unui contract de îm-prumut pentru suma de 11.676.010 Euro a-rea primei – Pavilion Cen-

cu Regionale contractul de finantare din fonduri structurale (europene) pentru obiectivul "Craiova Water Park - Complex de Agreement Acvatic în Parcul Tineretului din Municipiul Craiova" o-

comisia de autorizare a împrumuturilor locale;

whose co-financing the contracting of the EUR 20,000,000 bankloan is necessary; Taking into account that only the financing agreement out of structural (European) funds for the investement " – Pavilion Central" was signed with the Regional Development Ministry, by the same letter the Bor-rower requested the splitting of the credit facility agreement of EUR 20,000,000 into phases; The Borrower requested that first acredit facility agreement of EUR 11,676,010 is signed for co-financing this first investment " –Pavilion Central" and that the diference of EUR 8,323,990 wouldbe borrowed only after the signing by the Borrower of the financ-ing contract out of structural (European) funds for the investment "Craiova Water Park - Complex de Agreement Acvatic în Parcul Tineretului din Municipiul Craiova" with the Regional Development Ministry and obtaining the required authorisation from the com-mission competent for approving local loans;

(F)a încheiat cu Împrumutatul numai

pentru in-" – Pavilion Central" apro

încheierea a contractului de împrumut bancar în valoare de 11.676.010 Euro pentru o peride 20 de ani;

(F) Resolution no. 334/08.09.2010 of the Local Council Craiova states expressly that the Regional Development Ministry concluded with the Borrower only the financing agreement out of structural (European) funds for the investment "Centru Multifunc-

– Pavilion Central" and approves the conclusion by the Borrower with the Lender of the credit facility agreement of EUR 11,676,010 for a period of 20 years;

(G) comisiei de autoriza-re a împrumuturilor locale

1.676.010

–" " – "Cen-

";

(G) The Decision no. 1745/25.10.2010 of the commission compe-tent for approving local loans approved the contracting by the Borrower of a term loan financing in the amount of EUR 11,676,010 for the implementation of public investments of local public interest through "Pro –

– " onal Craiova";

- 5 -HYPO-RO/22009/Draft#9 16.11.2011

(H)contractul de împrumut pentru suma de 11.676.010

o-nale pentru obiectivul "Craiova Water Park - Complex de Agreement Acvatic în Parcul Tineretului din Municipiul Craiova" astfel încât su-

u-Cont ractarea unui împrumut bancar de

��(�X�U�R��S�H�Q�W�U�X��R��S�H�U�L�R�D�G��G�H��G�H��D�Q�L�� v�Q��Y�H�G�H�U�H�D��D�V�L�Ju-�U��U�L�L�� I�L�Q�D�Q� ��U�L�L�� X�Q�R�U�� R�E�L�H�F�W�L�Y�H�� G�H�� L�Q�Y�H�V�W�L� �L�L�� G�H�� Lnteres public local din Municipiul Cr aiova ";

(H) On 2 December 2010 the Borrower and the Lender signed the credit facility for the amount of EUR 11,676,010, following that the Borrower to continue to take the necessary measures for the signing of the financing agreement with the Regional Development Ministry for the investment "Craiova Water Park - Complex de Agreement Acvatic în Parcul Tineretului din Municipiul Craiova" so that the amount borrowed from the Lender of EUR 11,676,010 to be made up with the difference of EUR 8,323,990 in order to reach the total amount EUR 20,000,000 in accordance with the public procurement procedure "Contractarea unui împrumut ba n-�F�D�U��G�H�� (�X�U�R��S�H�Q�W�U�X�� R��S�H�U�L�R�D�G��G�H�� G�H��D�Q�L�� v�Q��Y�H�Ge-�U�H�D�� D�V�L�J�X�U��U�L�L�� I�L�Q�D�Q� ��U�L�L�� X�Q�R�U�� R�E�L�H�F�W�L�Y�H�� G�H�� L�Q�Y�H�V�W�L� �L�L�� G�H�� L�Q�W�H�U�H�V�� Su-blic local din Municipiul Crai ova";

(I) La data de 09.09.2011 [�1�R�W��Ge confirmat de municipiul Crai o-va] n-

c-tivul "Craiova Water Park - Complex de Agreement Acvatic în Parcul Tineretului din Municipiul Craiova" mpletarea

n-

(I) On 09.09.2011 [�1�R�W�� &�U�D�L�R�Y�D�� &�L�W�\�� W�R�� F�R�Q�I�L�U�P] the Borrower signed with the Regional Development Ministry the financing agreement out of structural (European) funds for the investment "Craiova Water Park - Complex de Agreement Acvatic în Parcul Tineretului din Municipiul Craiova", so that the borrowed amountshould be made up with the difference of EUR 8,323,990 for co-financing purposes;

(J) Consiliului Local Craiova nr. 344/2011 a modificat Ho-

aprobat înlocuirea obiectivului de investi-– Craiova" cu obiectivul

"Craiova Water Park - Complex de Agreement Acvatic în Parcul Tineretului din Municipiul Craiova stabilit uma to-

, suma de8.323.990 Euro credit bancar;

(J) The Resolution no. 344/2011 of the Local Council Craiovaamended the Resolutions of the Local Council Craiova nos. 113/2009, 348/2009, 497/2009 and 222/2011 and approved thereplacement of the investment a Jiului – Craiova" with the investment "Craiova Water Park - Com-plex de Agreement Acvatic în Parcul Tineretului din Municipiul Craiova" and set out that out of the total amount necessary for co-financing this investment the amount of EUR 8,323,990 will beprocured by a bank credit facility;

(K) u- (K) The Borrower will publish in the Electronic System for Public

- 6 -HYPO-RO/22009/Draft#9 16.11.2011

blice "Contractarea unui împrumut bancar de 20.000.000 Euro

�S�H�Q�W�U�X��R��S�H�U�L�R�D�G��G�H��G�H��D�Q�L��v�Q��Y�H�G�H�U�H�D��D�V�L�J�X�U��U�L�L��I�L�Q�D�Q� ��Uii unor ob i�H�F�W�L�Y�H�� G�H�� L�Q�Y�H�V�W�L� �L�L�� G�H�� L�Q�W�H�U�H�V�� S�X�E�O�L�F�� O�R�F�D�O�� G�L�Q�� 0�X�Q�L�F�L�S�L�X�O�� &�U�D�L�R�Y�D"numai contractarea întregii sume de 20.000.000 Euro prin completarea contractului de împrumut din 2 decembrie 2010 prin

suma dede 8.323.990 Euro;

Procurements the awarding notice for the finalization of the public procurement procedure "Contractarea unui împrumut bancar de 20.000 �� (�X�U�R�� S�H�Q�W�U�X�� R�� S�H�U�L�R�D�G�� G�H�� G�H�� D�Q�L�� v�Q�� Y�H�G�H�U�H�D��D�V�L�J�X�U��U�L�L��I�L�Q�D�Q� ��U�L�L��X�Q�R�U��R�E�L�H�F�W�L�Y�H��G�H��L�Q�Y�H�V�W�L� �L�L��G�H��L�Q�W�H�U�H�V��S�X�E�O�L�F��Oo-cal din Municipiul Craiova " only after contracting the entire amount of EUR 20,000,000 by making up the credit facility agreement by which the Borrower borrowed from the Lender the amount of EUR 11,676,010 with the difference of EUR 8,323,990;

(L) […]; (L) the provisions of the Resolution no. […] of Craiova Local Council; and

(M) prevederile Avizului nr. […] emis de Comisia pentru Autorizarea Împrumuturilor Locale

(M) the provisions of Decision no. […] issued by the Commission for Authorisation of Local Loans; and

cele mai sus prezentate, încheie prezentul Contractul

:

the Borrower and the Lender, in consideration of the aforemen-tioned, have decide to enter into this Addendum and to amend the Initial Agreement, subject to the terms and conditions set out be-low:

1. 1. DEFINITIONS AND INTERPRETATION

1.1c-

tul Ini

1.1 Unless provided otherwise by this Addendum, definitions and rules of interpretations set out in the Initial Agree-ment shall apply also in this Addendum.

1.2 1.2 This Addendum is a Finance Document.

2. 2. AMENDMENTS

în ANEXA la prezentul Act iar

textul subliniat este nou introdus.nu este modificat în niciun fel.

As of signing of this Addendum, the Initial Agreement is amended as shown in the SCHEDULE to this Addendum, namely text with strikestrough is deleted and text with un-derline is newly introduced. Unmarked text is not amended at all.

- 7 -HYPO-RO/22009/Draft#9 16.11.2011

nici a /contract.

This Addendum is not and it does not contain any novationof the Initial Agreement or of any other act/agreement.

3. PREVEDERI GENERALE 3. GENERAL PROVISIONS

Articolele [12. (�'�H�F�O�D�U�D� �L�L��ú�L��*�D�U�D�Q� �L�L), 14 (Obliga � ii Gener ale), 16 (�'�H�V�S��J�X�E�L�U�L), 17 (�&�R�V�W�X�U�L�� ú�L�� &�K�H�O�W�X�L�H�O�L), 18 (Modificarea �3��U� �L�O�R�U), 20 (�1�R�W�L�I�L�F��U�L), 21 (�5�H�Q�X�Q� ��U�L��ú�L��5emedii ) 23 (Pre-vederi diverse ) mutatis m u-tandis (referirile la "Contract" sau la

inclusiv la .

i-.

toate clauzele prezen-încât acestea nu constituie clauze

standard în sensul art.art. 1.203 din noul Cod Civil intrat în vigoare la 01.10.2011.

uzele din ANEXA la pre-.

Articles [12. (Representations and Warranties ), 14 (General Undertakings ), 16 (Indemnification ), 17 (Costs and Expe n-ses), 18 (Changes to the Parties ), 20 (Notices ), 21 (Wai-vers and Remedies ) and 23 (Miscellaneou s)] of the Initial Agreement apply mutatis mutandis to this Addendum (refe-rences to the "Agreement" or to the "Finance Documents" shall be read as references also to this Addendum).

For the sake of clarity the Parties agree expressly that (i) this Addendum does not constitute an adhesion contract as defined by article 1.175 of the new Cicil Code that entered into force on 01.10.2011 and that (ii) the Parties have ne-gociated and agreed expressly all clauses of this Addendum so that these do not constitute standard clauses (clauze standard ) as defined by article 1.202, nor unsual clauses (clauze neuzuale ) as defined by article 1.203 of the new Ci-cil Code. In addition, the Borrower expressly accepts all clauses of this Addendum including the clauses set out in the SCHEDULE to this Addendum.

Prezentul i-

pentru Împru

This Addendum has been executed in three originals, which are distributed between the Parties as follows: two originals for the Borrower and one original for the Lender.

[�5�H�V�W�X�O��D�F�H�V�W�H�L��S�D�J�L�Q�L��D��I�R�V�W��O��V�D�W��J�R�D�O��v�Q��P�R�G��L�Q�W�H�Q� �L�R�Q�D�W��7�K�H��U�H�P�D�L�Q�G�H�U��R�I��W�K�L�V��S�D�J�H��Z�D�V��L�Q�W�H�Q�W�L�R�Q�D�O�O�\��O�H�I�W��E�O�D�Q�N��]

- 8 -HYPO-RO/22009/Draft#9 16.11.2011

zen- IN WITNESS WHEREOF the parties hereto have executed this Addendum the date first written above.

Împrumutatul/Borrower:

______________________________

Municipiul Craiova/City of Craiova Prin/By: Primar Antonie Solomon

________________________________

Secretarul Municipiului Craiova, Nicoleta Miulescu – Confirm legalitatea prezentului Contract

________________________________

Director Economic Executiv, Ec. Nicolae Pascu

_________________________________

Director executiv - DIRECTIA JURIDICA, ASISTENTA DE SPECIALITATE SI CONTENCIOS ADMINISTRATIV, Ovidiu Mischianu – Confirm legali-tatea prezentului Contract

Telefon/Telephone: +40 251 416578

Telefax/Telefax: +40 251 411561

- 9 -HYPO-RO/22009/Draft#9 16.11.2011

HYPO NOE Gruppe Bank AG

_________________________________

Prin/By: […]

____________________________________

[Matei Creiveanu - Senior Project Manager]

Telefon/Telephone: +43 5 90910 1552

Telefax/Telefax: +43 5 90910 91552

- 10 -HYPO-RO/22009/Draft#9 16.11.2011

[…]/SCHEDULE to the Addendum no. 1 of […]

Contract de împrumut la termen nr. 167199 din 02.12.2010[…]

Term Loan Facility Agreement no. 167199 of 02.12.2010including the amendments dated […]

între by and between

Municipiul Craiova(în calitate de împrumutat)

the City of Craiova(as borrower)

and

HYPO NOE Gruppe Bank AG HYPO NOE Gruppe Bank AG(as lender)

PREZENTUL CONTRACT DE ÎMPRUMUT NR. 167199/02.12.2010

nal nr. 1 din […] (denumit în continuare "Contractul") este încheiat la data de 2 decembrie 2010 între:

THIS TERM LOAN FACILITY AGREEMENT NO. 167199/02.12.2010, as amended by Addendum no. 1 dated […] (hereinafter referred to as the "Agreement") is made on 2 December 2010 between:

Municipiul Craiova, având sediul în Craiova, str. A.I. Cuza, nr. 7, 200585, jud. Dolj, cod fiscal 4417214, reprezentat prin

, în calitate de viceprimar al Municipiului Craiova, pentru Pri-marul Municipiului Craiova, nsiliului

[…], în cali-

the City of Craiova, with its registered seat in Craiova, A.I. Cuza str. no. 7, 200585, Dolj county, fiscal code 4417214, represented by , in its capacity as vicemayor of the City of Craiova,for the Mayor of the City of Craiova, in accordance with the decisions of Craiova Local Council no. 334/08.09.2010 and

- 11 -HYPO-RO/22009/Draft#9 16.11.2011

tate de împrumutat (denumit în continuare "Împrumutatul"), 335/15.09.2010 and […], as borrower (hereinafter referred to as the "Borrower"),

and

HYPO NOE Gruppe Bank AGioneze în baza legilor din Republica Austria,

având sediul social în Kremser Gasse 20, 3100 St. Polten, DVR o-

merciale din St. Pölten, Austria" i-cii în mod direct pe teritoriul României" a-

a României este 13.07.2007), DI Dr. Jo-hannes Schrems - Head of Team Corporates-Austria conform împu-

- Senior Project Manager conform împu-ternicirii, Îm-prumut torul").

HYPO NOE Gruppe Bank AG, a credit institution established and authorised in accordance with the laws of Republic of Austria, with its registered seat at Kremser Gasse 20, 3100 St. Polten, DVR 0042862, Austria, registered with the Companies Register of the Commercial Courts of St. Pölten, Austria under no. FN 99073x, registered in the "List of the credit institutions which have notified to the National Bank of Romania the direct provision of services within the territory of Romania" (date of notification to the Na-tional Bank of Romania is 13.07.2007), represented by DI Dr. Jo-hannes Schrems - Head of Team Corporates-Austria, under power of attorney and Matei Creiveanu - Senior Project Manager under power of attorney, as lender (hereinafter referred to as the "Lender").

PREAMBUL PREAMBLE


(A)

344/2011, a aprobat contractarea unei a-loare de 20.000.000 Euro cu o maturitate de 20 de ani, pentru reali-

nteres local:

(A) The Resolution of the Local Council Craiova no. 348/30.07.2009, as amended by the Resolution of the Local Council Craiova no. 344/2011, approved the contracting of a fi-nancing amounting to EUR 20,000,000 having a maturity of 20 years, for the execution of certain public investments of local in-terest:

(i) "Craiova Water Park - Complex de Agreement Acvatic în Parcul Tineretului din Municipiul Craiova

(i) "Craiova Water Park - Complex de Agreement Acvatic în Parcul Tineretului din Municipiul Craiova" having a value of EUR 8,323,990 and

– Pavilion Central" în valoare de (ii) " – Pavilion Central" having a

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11.676.010 Euro; value of EUR 11,676,010;

(B)

u-Contractarea unui împrumut bancar

�G�H��(�X�U�R��S�H�Q�W�U�X��R��S�H�U�L�R�D�G��G�H��G�H��D�Q�L��v�Q��Y�H�G�H�U�H�D��D�Vi-�J�X�U��U�L�L�� I�L�Q�D�Q� ��U�L�L�� X�Q�R�U�� R�E�L�H�F�W�L�Y�H�� G�H�� L�Q�Y�H�V�W�L� �L�L�� G�H�� L�Q�W�H�U�H�V�� S�X�E�O�L�F�� O�R�F�D�O��din Muni cipiul Cr aiova ";

(B) By the contract notice no 86684/18.09.2009 published in the Electronic System for Public Procurements (Sistemul Electronic de �$�F�K�L�]�L� �L�L�� 3�X�E�O�L�F�H) together with the corresponding awarding documentation, the Borrower initiated the public procurement procedure for financial services "Contractarea unui împrumut ba n-�F�D�U��G�H�� (�X�U�R��S�H�Q�W�U�X�� R��S�H�U�L�R�D�G��G�H�� G�H��D�Q�L�� v�Q��Y�H�Ge-�U�H�D�� D�V�L�J�X�U��U�L�L�� I�L�Q�D�Q� ��U�L�L�� X�Q�R�U�� R�E�L�H�F�W�L�Y�H�� G�H�� L�Q�Y�H�V�W�L� �L�L�� G�H�� L�Q�W�H�U�H�V�� Su-blic local din Municipiul Crai ova";

(CA) Sec , " "u-

mutatal

comisiei de autorizare a împrumuturilor localee-

iat;,

(CA) sSection III of the Procurement Data Sheet of the awarding documentation "Specific conditions of the contract" settingsets out that the credit facility agreement will be concluded only after ob-taining the autorisation of the commission competent for approv-ing local loans and guarantees and that in case such authorisation is not obtained, the credit facility agreement will not be conclud-edsigned;

(D)

Îm-

Contractarea unui împrumut bancar de 20.000.000 �(�X�U�R��S�H�Q�W�U�X��R��S�H�U�L�R�D�G��G�H��G�H��D�Q�L��v�Q��Y�H�G�H�U�H�D��D�V�L�J�X�U��U�L�L��I�L�Q�D�Q� ��U�L�L��X�Q�R�U��R�E�L�H�F�W�L�Y�H��G�H��L�Q�Y�H�V�W�L� �L�L��G�H��L�Q�W�H�U�H�V��S�X�E�O�L�F��O�R�F�Dl din Municipiul Cr a-iova a-re cu Împrumutatul pentru suma de 20.000.000 Euro;

(D) Pursuant to the Communication no. 137732/19.11.2009 con-cerning the result of the public procurement procedure issued by " " in Craiova City Hall, HYPO Investment Bank AG (at present named HYPO NOE Gruppe Bank AG), i.e. the Lender, was selected winner in the public procurement procedure "Contractarea unui împrumut ba n-c�D�U��G�H�� (�X�U�R��S�H�Q�W�U�X�� R��S�H�U�L�R�D�G��G�H�� G�H��D�Q�L�� v�Q��Y�H�Ge-�U�H�D��D�V�L�J�X�U��U�L�L��I�L�Q�D�Q� ��U�L�L��X�Q�R�U��R�E�L�H�F�W�L�Y�H��G�H��L�Q�Y�H�V�W�L� �L�L��G�H��L�Q�W�H�U�H�V��S�Xb-lic local din Municipiul Craiova ", following that the Lender will sign the credit facility agreement with the Borrower for the amount of EUR 20,000,000;

(E) Prin adresa nr. 117565/25.08.2010, Împrumutatul a informat omisia de

autorizare a împrumuturilor locale a cerererii de autorizare a con-

(E) By letter no. 117565/25.08.2010, the Borrower informed the Lender that it is not possible for the commission competent for approving local loans to analyze the authorisation request for con-

- 13 -HYPO-RO/22009/Draft#9 16.11.2011

000 Euro deoarece Împrumutatul i-

nan -

nat cu Ministerul Dez-vol u-

–c-

ut de 20.000.000 Euro pe etape; Împrumutatul a solicitat semnarea mai întâi a unui contract de îm-

a-– Pavilion Cen-

Regionale contractul de finantare din fonduri structurale (europene) pentru obiectivul "Craiova Water Park - Complex de Agreement Acvatic în Parcul Tineretului din Municipiul Craiova o-

comisia de autorizare a împrumuturilor locale;

tracting the credit facility agreement of EUR 20,000,000 because the Borrower did not sign with the Regional Development Ministry the financing agreement out of structural (European) funds for whose co-financing the contracting of the EUR 20,000,000 bank loan is necessary; Taking into account that only the financing agreement out of structural (European) funds for the investement "Centru Multi – Pavilion Central" was signed with the Regional Development Ministry, by the same letter the Bor-rower requested the splitting of the credit facility agreement of EUR 20,000,000 into phases; The Borrower requested that first a credit facility agreement of EUR 11,676,010 is signed for co-financing this first investment " –Pavilion Central" and that the diference of EUR 8,323,990 would be borrowed only after the signing by the Borrower of the financ-ing contract out of structural (European) funds for the investment "Craiova Water Park - Complex de Agreement Acvatic în Parcul Tineretului din Municipiul Craiova" with the Regional Development Ministry and obtaining the required authorisation from the com-mission competent for approving local loans;

(F)

n-– Pavilion Centra o

ntractului de împrumut bancar în valoare de 11.676.010 Euro pentru o peride 20 de ani;

(F) Resolution no. 334/08.09.2010 of the Local Council Craiova states expressly that the Regional Development Ministry concluded with the Borrower only the financing agreement out of structural (European) funds for the investment "Centru Multifunc-

– Pavilion Central" and approves the conclusion by the Borrower with the Lender of the credit facility agreement of EUR 11,676,010 for a period of 20 years;

(G) comisiei de autoriza-re a împrumuturilor locale

1.676.010

–

(G) The Decision no. 1745/25.10.2010 of the commission compe-tent for approving local loans approved the contracting by the Borrower of a term loan financing in the amount of EUR 11,676,010 for the implementation of public investments of local public interest through "Pro –

- 14 -HYPO-RO/22009/Draft#9 16.11.2011

– "Cen-– onal Craiova";

(H)ut pentru suma de 11.676.010

o-nale pentru obiectivul "Craiova Water Park - Complex de Agreement Acvatic în Parcul Tineretului din Municipiul Craiova" astfel încât su-

u-Cont ractarea unui împrumut bancar de

��(�X�U�R��S�H�Q�W�U�X��R��S�H�U�L�R�D�G��G�H��G�H��D�Q�L�� v�Q��Y�H�G�H�U�H�D��D�V�L�Ju-�U��U�L�L�� I�L�Q�D�Q� ��U�L�L�� X�Q�R�U�� R�E�L�H�F�W�L�Y�H�� G�H�� L�Q�Y�H�V�W�L� �L�L�� G�H�� Lnteres public local din Municipiul Cr aiova ";

(H) On 2 December 2010 the Borrower and the Lender signed the credit facility for the amount of EUR 11,676,010, following that the Borrower to continue to take the necessary measures for the signing of the financing agreement with the Regional Development Ministry for the investment "Craiova Water Park - Complex de Agreement Acvatic în Parcul Tineretului din Municipiul Craiova" so that the amount borrowed from the Lender of EUR 11,676,010 to be made up with the difference of EUR 8,323,990 in order to reach the total amount EUR 20,000,000 in accordance with the public procurement procedure "Contractarea unui împrumut ba n-�F�D�U��G�H�� (�X�U�R��S�H�Q�W�U�X�� R��S�H�U�L�R�D�G��G�H�� G�H��D�Q�L�� v�Q��Y�H�Ge-�U�H�D�� D�V�L�J�X�U��U�L�L�� I�L�Q�D�Q� ��U�L�L�� X�Q�R�U�� R�E�L�H�F�W�L�Y�H�� G�H�� L�Q�Y�H�V�W�L� �L�L�� G�H�� L�Q�W�H�U�H�V�� Su-blic local din Municipiul Crai ova";

(I) La data de 09.09.2011 [�1�R�W��G�H��Fonfirmat de municipiul Crai o-va n-

c-tivul "Craiova Water Park - Complex de Agreement Acvatic în Parcul Tineretului din Municipiul Craiova mpletarea

n-

(I) On 09.09.2011 [�1�R�W�� &�U�D�L�R�Y�D�� &�L�W�\�� W�R�� F�R�Q�I�L�U�P] the Borrower signed with the Regional Development Ministry the financing agreement out of structural (European) funds for the investment "Craiova Water Park - Complex de Agreement Acvatic în Parcul Tineretului din Municipiul Craiova", so that the borrowed amount should be made up with the difference of EUR 8,323,990 for co-financing purposes;

(J) o-

i-– Craiova" cu obiectivul

Craiova Water Park - Complex de Agreement Acvatic în Parcul Tineretului din Municipiul Craiova o-

credit bancar;

(J) The Resolution no. 344/2011 of the Local Council Craiova amended the Resolutions of the Local Council Craiova nos. 113/2009, 348/2009, 497/2009 and 222/2011 and approved the

a Jiului – Craiova" with the investment "Craiova Water Park - Com-plex de Agreement Acvatic în Parcul Tineretului din Municipiul Craiova" and set out that out of the total amount necessary for co-financing this investment the amount of EUR 8,323,990 will be

- 15 -HYPO-RO/22009/Draft#9 16.11.2011

procured by a bank credit facility;

(K) u-

Contractarea unui împrumut bancar de 20.000.000 Euro �S�H�Q�W�U�X��R��S�H�U�L�R�D�G��G�H��G�H��D�Q�L��v�Q��Y�H�G�H�U�H�D��D�V�L�J�X�U��U�L�L��I�L�Q�D�Q� ��Uii unor ob i�H�F�W�L�Y�H�� G�H�� L�Q�Y�H�V�W�L� �L�L�� G�H�� L�Q�W�H�U�H�V�� S�X�E�O�L�F�� O�R�F�D�O�� G�L�Q�� 0�X�Q�L�F�L�S�L�X�O�� &�U�D�L�R�Y�D"

completarea contractului de împrumut din 2 decembrie 2010 prin uma de

;

(K) The Borrower will publish in the Electronic System for Public Procurements the awarding notice for the finalization of the public procurement procedure "Contractarea unui împrumut bancar de 20.000 �� (�X�U�R�� S�H�Q�W�U�X�� R�� S�H�U�L�R�D�G�� G�H�� G�H�� D�Q�L�� v�Q�� Y�H�G�H�U�H�D��D�V�L�J�X�U��U�L�L��I�L�Q�D�Q� ��U�L�L��X�Q�R�U��R�E�L�H�F�W�L�Y�H��G�H��L�Q�Y�H�V�W�L� �L�L��G�H��L�Q�W�H�U�H�V��S�X�E�O�L�F��Oo-cal din Municipiul Craiova " only after contracting the entire amount of EUR 20,000,000 by making up the credit facility agreement by which the Borrower borrowed from the Lender the amount of EUR 11,676,010 with the difference of EUR 8,323,990;

(LB)

426/15.11.2010;

(LB) the provisions of the Decision Resolution no. 334/08.09.2010 of Craiova Local Council and of the Decision Resolution no. 426/15.11.2010 of Craiova Local Council;, and

(M) …]/[…]2011; (M) the provisions of the Resolution no. […]/[…]2011 of Craiova Local Council;

(NC) prevederile Avizului nr. 1745/25.10.2010 emis de Ccomisia pentru de Aautorizare a Îîmprumuturilor Llocale ,

(NC) the provisions of Decision no. 1745/25.10.2010 issued by the Ccommission competent for Authorisation approving of Llocal Lloans; and,

(O) prevederile Avizului nr. […]/[…]2011 emis de comisia de autori-zare a împrumuturilor locale;

(O) the provisions of Decision no. […]/[…]2011 issued by the commission competent for approving local loans;

n-:

the Borrower and the Lender enter into this Agreement, subject to the terms and conditions set out below:

4.1. 4.1. DEFINITIONS AND INTERPRETATION

1.31.1 4.11.1Definitions

În cadrul prezentului Contract: In this Agreement:

"Angajament Angajament A sau Angajament B. "Commitment" means Commitment A or Commitment B.

- 16 -HYPO-RO/22009/Draft#9 16.11.2011

"Angajament Ai II a Anexei 1 (Ang ajament ).

"Commitment A" means the amount in Euro stipulated in Part II of Schedule 1 (Commitment ).

"Angajament BAng ajament ).

"Commitment B" means the amount in Euro stipulated in Part II of Schedule 1 (Commitment ).

"Articol ezentului Contract. "Clause" means a clause under this Agreement.

"electate

tor.

"Reference Banks" means the principal office of three leading banks in the European interbank market selected by the Lender.

"dintre evenimentele sau cazu(�&�D�]�X�U�L��G�H��1�H�v�Q�G�H�S�O�L�Q�L�U�H��D��2�E�O�L�J�D� �L�L�O�R�U); acesteapentru

a-, în toate cazurile la solicitarea u-

lui, în conformitate cu prevederle prezentului Contract; pen-tru claritate Caz de Ne i-

.

"Event of Default" means any event or circumstance specified as such in Clause 15 (Events of Default ); these are essential for the Lender and may trigger acceler-ated/early payment obligations (�H�[�L�J�L�E�L�O�L�W�D�W�H�D�� D�Q�W�L�F�L�S�D�W��G�H�F��G�H�U�H�D�� G�L�Q�� W�H�U�P�H�Q��), unilateral rescission (rezilierea �X�Q�L�O�D�W�H�U�D�O��) and/or unilateral termination (�G�H�Q�X�Q� �D�U�H�D�� X�Qi-�O�D�W�H�U�D�O��), in all situations at the request of the Lender, in accordance with the provisions of the Agreement; for the sake of clarity the occurrence of any Event of Default con-stitutes a breach/violation (�Q�H�H�[�H�F�X�W�D�U�H�� F�X�O�S�D�E�L�O��) by the Borrower of its obligations under this Agreement.

"Cerere de TragereAnexei 3 (Formular de Cerere de Tragere).

"Utilisation Request" means a notice substantially in the form set out in Schedule 3 (Form of Utilisation Request).

"Comisie

rativ-teritoriale), conform prevederilor Legii nr.

Guvern nr. 9/2007.

"Commission" means the competent commission for ap-proving loans and guarantees (comisia de autorizare a i m-prumuturilor loca le) undertaken by territorial administrative units (unitati administrativ - teritoriale ) as contemplated by Law no. 273/2006 concerning local public finances and Government Resolution no. 9/2007.

- 17 -HYPO-RO/22009/Draft#9 16.11.2011

" uelede ga e

eilor Municipalestabilite în Articolul 14.4 (�*�D�U�D�Q� �L�L).

"Municipal Guarantee Agreement" means the municipal guarantee agreements between the Borrower and the Lender for the creation of the Municipal Guarantees set out in Clause 14.4 (Security ).

".

"Termination Date" means Termination Date A or Termi-nation Date B.

" e A 30.09.2030. "Termination Date A" means the 30.09.2030.

" […]. "Termination Date B" means […].

"Data Stabilirii Dobânziire este cu espective,

n-a-

i

n-

Data Stabilirii Dobânzii va fi ultima dintre aceste zile).

"Quotation Day" means, in relation to any period for which an interest rate is to be determined, two TARGET Days before the first day of that period, unless market practice differs in the Relevant Interbank Market, in which case the Quotation Day will be determined by the Lender in accordance with market practice in the Relevant Interbank Market (and if quotations would normally be given by lead-ing banks in the Relevant Interbank Market on more than one day, the Quotation Day will be the last of those days).

"Data Tragerii e-

din Împrumut.

"Utilisation Date" means the date on which a Utilisation is made, being the date on which a Loan is to be made.

" " îns 31.03, 30.06, 30.09 31.12

"Payment Date" means each of the following dates of 31.03, 30.06, 30.09 and 31.12 of each year.

"la Articolul 12 (�'�H�F�O�D�U�D� �L�L�� ú�L�� *�D�U�D�Q� �L�L) cu

(�&�R�P�S�D�W�L�E�L�O�L�W�D�W�H�D�� F�X�� D�O�W�H�� R�E�O�L�J�D� �L�L), Articolul 12.4 (Capacitate

"Repeating Representations" means each of the repre-sentations set out in Clause 12 (Representations and War-ranties ) other than the representations set out in Clause 12.3 (Non -conflict with other obligations ), Clause 12.4

- 18 -HYPO-RO/22009/Draft#9 16.11.2011

�ú�L�� D�X�W�R�U�L�]�D�U�H) (numai unde este cazul, la implementarea Docu-

Veridicitatea info r-�P�D� �L�L�O�R�U �6�L�W�X�D� �L�L�O�H��)�L�Q�D�Q�F�Lare).

(Power and authority ) (only to the extent these relate to the entry into and, where applicable, delivery of, the Finance Documents), Clause 12.8 (No misleading inform a-tion ) and Clause 12.9 (Financial stat ements ).

"fiecare Contractul de Ga-

(inclusiv f n-

nd Facilitatea B stabilite în Articolul 14.4 (Ga-�U�D�Q� �L�L)), fiecare i-

mprumutat.

"Finance Documents" means this Agreement, each ad-dendum to this Agreement, the Municipal Guarantee Agreement (including without limitation the Municipal Guarantee Agreement for Facility A and the Municipal Guarantee Agreement for Facility B set out in Clause 14.4 (Security )), each addendum to the Munipal Guarantee Agreement and any other document designated as such by the Lender and the Borrower.

"EURIBOR "EURIBOR" means, in relation to a Loan:

(a) (a) the applicable Screen Rate; or

(b)

-au

partici o

(b) (if no Screen Rate is available for the Interest Period of that Loan) the arithmetic mean of the rates (rounded upwards to four decimal places) as supplied to the Lender at its request quoted by the Reference Banks to leading banks in the European interbank market,

publicate/aplicabile în jurul orei 11 a.m. la Data Stabilirii Do-bânzii pentru oferirea dede 3 luni.

at or about 11 a.m. on the Quotation Day for the offering of deposits in Euro for a period of 3 months.

"Euro" sau "EUR a-telor Membre Participante.

"Euro" or "EUR" means the single currency unit of the Par-ticipating Member States.

"Facilitate B. "Facility" means Facility A or Facility B.

- 19 -HYPO-RO/22009/Draft#9 16.11.2011

"Facilitatea A

Articolul 2.1 (Facilit atea ) sub-punctul (a).

"Facility A" means the Euro term loan facility made availa-ble under this Agreement as described in Clause 2.1 (The Facility ) limb (a).

"Facilitatea Bu

Articolul 2.1 (Facilit atea ) sub-punctul (b).

"Facility B" means the Euro term loan facility made availa-ble under this Agreement as described in Clause 2.1 (The Facility ) limb (b).

" " în i-tate, Angajamentul din Facilitatea , minus

"Available Facility" means, in relation to a Facility, the Commitment under thate Facility less

(a) orice Împrumut în derulare (nerambursat) din Facilitatea ;

(b) rice Tragere din Facilitatea re-

din Facilitatea în data sau înainte de data Tragerii solicitate.

(a) any outstanding Loan out of that Facility; and

(b) in relation to a proposed Utilisation out of that Facility, the aggregate amounts of all Utilisations that are due to be made out of that Facility on or before the propo-sed Utilisation.

" " " i-pale" oricare

Legea nr. 273/2006 privind fi , prin care u

Docu

5 alin. (1) lit. (a) din Legea nr. 273/2006 privind finanpublice locale precum

sau în conformitate cu pre-vederile Titlului X, Capitolului III, ale noului Cod Civil care a intrat în vigoare la 01.10.2011 de prim rangdeschise de Împrumutat la Trezoreria Statului Unitatea Ope-

"Municipal Guarantee" and each of the "Municipal Guarantees" means theany municipal guarantee between the Borrower as guarantor and the Lender as beneficiary in accordance with article 63 of Law no. 273/2006 concerning local public finances, whereby all the obligations of the Bor-rower under this Agreement and the other Finance Docu-ments are guaranteed in the first rank with the Borrower’s revenues indicated in article 5 para (1) let (a) of Law no. 273/2006 concerning local public finances as well as, as an accessory, in accordance with the provisions of Title VI of the Law no. 99/1999, a first ranking movable security or, as applicable, in accordance with the provisions of Title X, Chapter III of the new Civil Code that entered into force on 01.10.2011, a first ranking mortgage (�L�S�R�W�H�F��P�R�E�L�O�L�D�U��de rangul întâi ) over the credit balance of the present and fu-ture accounts opened by the Borrower with the State

- 20 -HYPO-RO/22009/Draft#9 16.11.2011

( în continuare "Tre-zoreria") în c u-mutatului.

Treasury, the Operative Unit of the City of Craiova (herein-after referred to as the "Treasury") in which the own in-come of the Borrower is collected.

"Impact Negativ Semnificativ

Împrumut torului,

"Material Adverse Effect" means any present or future event or circumstance which could, in the opinion of the Lender,

(a)

sau statutului juridic al -

ex-,

punerii în executare, producerii de efecte juridice, ran-gu Sarcini (g )

n-i

(a) have a material adverse effect on, or cause a material adverse change in, (i) the financial condition, assets or legal status of the Borrower; (ii) the ability of the Borrower to perform and comply with its obligations under the Finance Documents; (iii) the validity, legali-ty or enforceability of the Finance Documents; (iv) the validity, enforceability, effectiveness, ranking or value of any Security granted or purporting to be granted pursuant to the Municipal Guarantee Agreement; or

(b) - a-- i-

ale celor de capital.

(b) result in a material disruption of or a material adverse change in conditions in the financial, banking or capital markets.

"Împrumut "Loan" means a Loan A or a Loan B.

"Împrumut A r-A (o i-

tatea A) sau suma de capital de rambursat în baza acelui împrumut la orice moment dat.

"Loan A" means a loan made or to be made under the Fa-cility A or the principal amount outstanding for the time be-ing of that loan.

"Împrumut B" înse r-B i-

"Loan B" means a loan made or to be made under the Fa-cility B or the principal amount outstanding for the time be-

- 21 -HYPO-RO/22009/Draft#9 16.11.2011

tatea B) sau suma de capital de rambursat în baza acelui îm-prumut la orice moment dat.

ing of that loan.

" i-

Împrumutat pentru g b

"Financial Indebtedness" means any existing and future indebtedness for borrowed money of the Borrower, includ-ing any guarantees given by the Borrower of any existing or future indebtedness for borrowed money of any other person.

" "Margin" means 4.25 per cent. per annum (4.25% p.a.).

" " e Neînde-a-

zu Cazuri de Neîndeplinire a O b-�O�L�J�D� �L�L�O�R�U e-

i

"Default" means an Event of Default or any event or cir-cumstance specified in Clause 15 (Events of Defau lt ) which would (with the expiry of a grace period, the giving of no-tice, the making of any determination under the Finance Documents or any combination of any of the foregoing) be an Event of Default.

"Parte on-tract.

"Party" means a party to this Agreement.

"Perioada de Disponibilitate

data 2 decembrie 2010 inclusiv,

data împlinirii a 36 de luni de la 2 decembrie 2010data sem-

[… data împlinirii a 36 de luni de la data […]2011 inclusiv.

"Availability Period" means

a) in relation to Facility A, the period from and including the date of this Agreement2 December 2010 to and including the date falling 36 months after the date of this Agree-ment2 December 2010, and

b) in relation to Faciliy B, the period from and including[…]2011 to and including the date falling 36 months after[…]2011.

- 22 -HYPO-RO/22009/Draft#9 16.11.2011

" " u-

7.2 (�3�H�U�L�R�D�G�H�O�H��G�H��'�R�E�k�Q�G�� i-

7.5 (Dobânda de Î ntârziere ).

"Interest Period" means, in relation to a Loan, each pe-riod determined in accordance with Clause 7.2 (Interest P e-riods ) and, in relation to an Unpaid Sum, each period de-termined in accordance with Clause 7.5 (Default interest ).

" n-o

"Relevant Interbank Market" means the European inter-bank market.

"Principii Contabile General Acceptate e-e-

ral acceptate în România.

"GAAP" means accounting regulations in Romania and generally accepted accounting principles in Romania.

" o

(Banking Federation of the European Union) pentru de-

pe pagina Reuters EURIBOR01. În cazul în care pagina sta-m-

n alt serviciu care af

"Screen Rate" means the percentage rate per annum de-termined by the Banking Federation of the European Union for deposits in EUR for a period of 3 months which appears on the Reuters page EURIBOR01. If the agreed page is re-placed or service ceases to be available, the Lender may specify another page or service displaying the appropriate rate.

" , sar-, privilegiu,

cesiune sau transfer efectuat în scopul constituirii unei garan-

b-u acord

care produce un efect similar.

"Security" means a mortgage (over movables or over im-movables), land charge, charge, pledge, lien, assignment or transfer for security purposes, retention of title ar-rangement or other security interest securing any obliga-tion of any person or any other agreement or arrangement having a similar effect.

"Statele Membre Participante" m-bru al Uniunii

a-Uniunii Europene cu privire la Uniunea Eco-

"Participating Member States" means any member state of the European Union Communities that adopts or has adopted the Euro as its lawful currency in accordance with legislation of the European UnionCommunity relating to

- 23 -HYPO-RO/22009/Draft#9 16.11.2011

Economic and Monetary Union.

" i-n-

formitate cu prezentul Contract.

"Unpaid Sum" means any sum due and payable but un-paid by the Borrower under this Agreement.

"TARGET2" -European Automated Real-Time Gross Settlement Express Transfer care

data de 19 noiembrie 2007.

"TARGET2" means the Trans-European Automated Real-time Gross Settlement Express Transfer payment system which utilises a single shared platform and which was launched on 19 November 2007.

"Tragere oricare din (Împru-muturi).

"Utilisation" means any utilisations of the Facility (Loans).

" "Business Day" means a day (other than a Saturday or Sunday) on which banks are open for general business in Vienna and Bucharest and which is a TARGET Day.

"Zi TARGET" "TARGET Day" means any day on which TARGET2 is open for the settlement of payments in Euro.

1.41.2Interpretare 4.21.2Construction

(a) Cu e o-rice referire în prezentul Contract la:

(a) Unless a contrary indication appears, any reference in this Agreement to:

(i) " ", "Împrumutatul" sau orice "Parte"

i

(i) the "Lender", the "Borrower" or any "Party" shall be construed so as to include its successors in title and permitted transferees;

(ii) "bunuri epturi (ii) "assets" includes present and future properties, revenues and rights of every description;

(iii) un " " sau orice alt con-tract sau instrument va face referire la acel Docu-

re sau la acel contract sau instru-

(iii) a "Finance Document" or any other agreement or instrument is a reference to that Finance Document or other agreement or instrument as

- 24 -HYPO-RO/22009/Draft#9 16.11.2011

extins sau reafirmat; amended, novated, supplemented, extended or restated;

(iv) "îndatorare

i-n

(iv) "indebtedness" includes any obligation (whether incurred as principal or as surety) for the pay-ment or repayment of money, whether present or future, actual or contingent;

(v) o " u-ex-

emplu:i-

s

(v) a "person" includes any natural or legal person or any other form of organisation, such as for in-stance: firm, company, corporation, government, state or agency of a state or any association, trust, joint venture, consortium or partnership (whether or not having separate legal personal-ity);

(vi) o "reglementare" include orice lege, regulament,

a-

sau de auto- sau organi

(vi) a "regulation" includes any regulation, rule, offi-cial directive, request or guideline (whether or not having the force of law) of any governmental, intergovernmental or supranational body, agency, department or regulatory, self-regulatory or other authority or organisation;

(vii)sau

;

(vii) a provision of law is a reference to that provision as amended or re-enacted or replaced;

(viii) a-, Austria;

(viii) a time of day is a reference to Vienna (Austria)time unless indicated expressly otherwise;

(ix)rol informativ;

(ix) Section, Clause and Schedule headings are for ease of reference only;

(x) con- (x) Unless a contrary indication appears, a term used in any other Finance Document or in any notice

- 25 -HYPO-RO/22009/Draft#9 16.11.2011

notificare ca în prezentul Contract;

given under or in connection with any Finance Document has the same meaning in that Finance Document or notice as in this Agreement;

(xi) O Neîndeplinire a ObligaNeîndeplinire a Obligaa fost -

n--a renun .

(xi) A Default (other than an Event of Default) is "continuing" if it has not been remedied or waived and an Event of Default is "continuing" if it has not been waived.

5.2. FACILITAT 5.2. THE FACILITY AND PURPOSE

5.12.1 Facilitatea 5.12.1The Facility

Sub rezervaÎn conformitate cu prevederilor prezentului Con-tract, (a) facilitate de

11.676.010 Euro (Angajamentul A)("Facilitatea A")Împrumutatului o facilitate de credit cu rambursare la termen

Euro (An-gajamentul B) ("Facilitatea B").

Subject to the terms of this Agreement, (a) the Lender makes available to the Borrower a Euro term loan facility in an aggregate amount of EUR 11,676,010 (Commitment A)("Facility A") and (b) the Lender makes available to the Borrower a Euro term loan facility in an aggregate amount of EUR 8,323,990 (Commitment B) ("Facility B").

5.22.2 Scopul 5.22.2Purpose

Împrumutatul va folosi toate sumele împrumutate în baza Fa-A exclusiv ei de interes pub-

lic „"Centrul M - Pavilion Central"“.

The Borrower shall apply all amounts borrowed by it under the Facility A exclusively for financing the investment of public interest “"Centrul M al Craiova – Pavilion Central"”.

Împrumutatul va folosi toate sumele împrumutate în baza Fa-b-

lic "Craiova Water Park - Complex de Agreement Acvatic în Parcul Tineretului din Municipiul Craiova".

The Borrower shall apply all amounts borrowed by it under the Facility B exclusively for financing the investment of public interest "Craiova Water Park - Complex de Agree-ment Acvatic în Parcul Tineretului din Municipiul Craiova".

- 26 -HYPO-RO/22009/Draft#9 16.11.2011

va respecta aceste modifimodifica unilateral de cuantumul maxim al

i (sau al Împrumutului) stabilit con-form prezentului Contract.

If any changes occur during the tenor of this Agreement in relation to the list of the investments financed by the Loan, through Resolution of the Craiova Local County, passed in accordance with the legal requirements in force, the Lender shall observe these changes, it being understood that by this the Borrower cannot amend unilaterally the maximum amount of the any Facility (or of theany Loan) agreed un-der this Agreement.

5.32.3 Monitorizarea 5.32.3Monitoring

i-fice scopul în care sunt folosite sumele împrumutate în baza acestui Contract.

The Lender is not bound to monitor or verify the application of any amount borrowed pursuant to this Agreement.

6.3. CONDI 6.3. Conditions Precedent

6.13.1 6.13.1Initial Conditions Precedent

Împrumutatul nu va putea depu-

e-xa 2.1 (Documente cu privire la �&�R�Q�G�L� �L�L��Preliminare pentru Facilitatea A ), într-o form a-

u-la libera sa alegere.

In relation to Facility A, Tthe Borrower may not deliver a Utilisation Request unless the Lender has received all doc-uments and other evidence listed in Schedule 2.1 (Cond i-tions precedent Documents for Facility A ) in form and sub-stance satisfactory to the Lender, unless waived by the Lender on such terms as it considers fit.

u-

e-xa 2.2 (�'�R�F�X�P�H�Q�W�H�� F�X�� S�U�L�Y�L�U�H�� O�D�� &�R�Q�G�L� �L�L�� 3�U�H�O�L�P�L�Q�D�U�H�� S�H�Q�W�U�X��Facilitatea B), într- a-

u-ere.

In relation to Facility B, the Borrower may not deliver a Uti-lisation Request unless the Lender has received all docu-ments and other evidence listed in Schedule 2.2 (Cond i-tions precedent Documents for Facility B) in form and sub-stance satisfactory to the Lender, unless waived by the Lender on such terms as it considers fit.

- 27 -HYPO-RO/22009/Draft#9 16.11.2011

6.23.2 6.23.2Further Conditions Precedent

în conformitate cu prezentul Contract numai în cazul în care, The Lender will only be obliged to make available a Loan hereunder if on the date of the Utilisation Request and the proposed Utilisation Date:

(a) s-pectele im

(a) all Repeating Representations are true in all material aspects; and

(b) nicio esteagere.

(b) no Default has occurred and is continuing or would re-sult from the proposed Utilisation.

7.4. TRAGEREA 7.4. Utilisation

7.14.1 Cererea de Tragere 7.14.1Utilisation Request

7.1.14.1.1 Împrumutatul poate utiliza Facilitatea prin

la ora 11.00 a.m., cu cel mult zece (10) Zile Lucr

Data

7.1.14.1.1 The Borrower may utilise the Facility by deli-very to the Lender of a duly completed Utilisation Request not later than 11.00 a.m. no more thanten (10) Business Days and no less than five (5)Business Days before the Utilisation Day as pro-posed in such Utilisation Request.

7.1.24.1.2n-

7.1.24.1.2 Each Utilisation Request is irrevocable and will not be regarded as having been duly completed unless

(a)Tragerea ;

(a) it indentifies the Facility to be utilised (the relevant Facility);

(b)interiorul Perioadei de Disponibilitaterelevante;

(b) the proposed Utilisation Date is a Business Day within the Availability Period of the rele-vant Facility;

(cb) (b)(c)the currency of the Utilisation is Euro; and

(dc) 200.000,00Euro, sau, în cazul în care Facilita

(c)(d)the amount of the Utilisation is a minimum of EUR 200,000.00 , or, if the relevant Available

- 28 -HYPO-RO/22009/Draft#9 16.11.2011

suma Facilit ii Dispo-nibile relevante.

Facility is less, the amount of the relevant Available Facility.

7.1.34.1.3 Doar un singur Împrumutpoate fi cerut prin fiecare Cerere de Tragere.

7.1.34.1.3 Only one Loan may be requested in each Utilisation Request.

7.1.44.1.4 Anexa nr. 5.1 con ine calendarul orientativ de Trageri din Facilitatea A. Anexa nr. 5.2 con ine cal-endarul orientativ de Trageri din Facilitatea B. Acestecalendare în niciun fel preverile 21 ale prezentului Con-tract. Împrumutatul poate modifica unilateral calen-daruele orientative de Trageri în conformitate cu le-gea, fiind agreat c printr-o asemenea modificare nuse va aduce vreo modificare sau limitare prezentului Contract.

7.1.44.1.4 Schedule 5.1 sets out an indicative schedule for Utilisations under Facility A. Schedule 5.2 sets out an indicative schedule for Utilisations under Fa-cility B. Theise schedules does not limit and doesnot amend in any way the provisions in Clauses 3 and 4.2 of this Agreement. The Borrower may change unilaterally the indicative schedules for Utilisations, in compliance with the law, it being understood that such change does not limit or amend in any way this Agreement.

7.24.2 AnulareaIndisponibilizarea 7.24.2Cancellation

fi imediat (astfel încât orice

Perioadei de Disponibilitate.

Any amount of the a Facility undrawn shall be immediately cancelled at the end of the relevant Availability Period.

8.5. RAMBURSAREA 8.5. REPAYMENT

8.15.1 Împrumutatul va rambursa Împrumuturile A în 68 rate tri-mestriale în cuantum de 171.706,03 Euro fiecare, scadente la

, începând cu pri urmea-pentru Facili-

tatea A (i.e., 31.12.2013), devenind este sca-pentru Facilitatea A în confor-

lui Contract în Anexa 4 (Formular pentru Planul de Rambursare ).

8.15.1The Borrower shall repay the Loan As in 68 quarterly in-stalments each of EUR 171,706.03, due on the Payment Dates, starting with the first Payment Date occurring af-ter the end of the Availability Period for Facility A (i.e., 31.12.2013) and the last instalment being due on the Termination Date for Facility A in accordance with the re-payment schedule attached hereto as Schedule 4 (Form of Repayment Sche dule ).

- 29 -HYPO-RO/22009/Draft#9 16.11.2011

8.25.2 Împrumutatul va rambursa Împrumutul B în […] rate trime-striale în cuantum de […] Euro fiecare, scadente la Datele de

terminarea Perioadei de Disponibilitate pentru Facilitatea B(i.e., […] este i-nale pentru Facilitatea B în conformitate cu planul de rambur-

Formular pe ntru Planul de Rambu rsare ).

8.25.2The Borrower shall repay the Loan B in […] quarterly in-stalments each of EUR […], due on the Payment Dates, starting with the first Payment Date occurring after the end of the Availability Period for Facility B (i.e., […]) and the last instalment being due on the Termination Date for Facility B in accordance with the repayment schedule at-tached hereto as Schedule 4 (Form of Repayment Sche d-ule ).

5.3 Împrumutatul nu poate reîmprumuta nicio parte a 5.3 The Borrower may not re-borrow any part of the any Facil-ity which is repaid.

9.6. 9.6. PREPAYMENT

9.16.1 : Împrumutatul poate rambursa anticipat integÎmprumutul, cu condi

9.16.1Prepayment at the request of the Borrower: The Borrower may prepay the Loan in whole or in part, pro-vided that:

(a)in 30 de Zile Lucr

toare înainte;

(a) the Borrower shall have given to the Lender not less than 30 Business Days prior notice of its intention to prepay;

(b)irevoca

(b) any notice of intended prepayment shall be irrevoca-ble;

(c) un Împrumut poate fi rambursat anticipat numai ulterior ultimei zile a Perioadei de Disponibilitate pentru Facilita-

(sau, mai devreme,

(c) a Loan may only be prepaid after the last day of the Availability Period of the corresponding Facility (or, if earlier, the day on which the Available Facility is zero);

(d) un Împrumut poate fi rambursat anticipat numai într-o are acelui Îm

(d) a Loan may only be prepaid on a Payment Date for that Loan; and

(e) u-mele rambursate anticipat.

(e) the Borrower shall not be entitled to re-borrow any amounts prepaid.

9.26.2 Rambursa : În cazul în 9.26.2Prepayment imposed by law: If, independently from

- 30 -HYPO-RO/22009/Draft#9 16.11.2011

care, în orice juris-prevederile legale aplicabile nu mai permit ca

u-muturile:

the Lender, it becomes unlawful in any applicable juris-diction for the Lender to perform any of its obligations as contemplated by this Agreement or to fund or maintain the Loans:

(a)eniment;

(a) the Lender shall promptly notify the Borrower upon becoming aware of that event;

(b) muttor, toate Angajamentuele vora fi anulat imediat indi-sponibilizate definitiv (astfel încât nu se mai pot face Trageri)

(b) upon the Lender notifying the Borrower, the all Com-mitments will be immediately cancelled; and

(c) Împrumutatul va rambursa toate Împrumuturile în prima

u-

ter

(c) the Borrower shall repay all the Loans on the first Payment Date occurring after the Lender has notified the Borrower or, if earlier, the date specified by the Lender in the notice delivered to the Borrower (being no earlier than the last day of any applicable grace pe-riod permitted by law).

9.36.3

neachiaferente sumei rambursate anticipat ui commis .

9.36.3Any prepayment under this Agreement shall be made to-gether with accrued but unpaid interest and default in-terest (if any) on the amount prepaid, but without pay-ment of any prepayment fee.

10.7. 10.7. INTEREST AND INTEREST PERIODS

10.17.1 Dobânda 10.17.1 Interest

10.1.17.1.1Împrumut

o , la o

10.1.17.1.1 The Borrower shall pay interest on each Loan in respect of each Interest Period relating thereto at the rate per annum which is the aggregate of

- 31 -HYPO-RO/22009/Draft#9 16.11.2011

(a) (a) the Margin; and

(b) EURIBOR. (b) EURIBOR

10.1.27.1.2

cu ex-de calcul

tor Împrumutatu-lui la data stabilirii ei.

10.1.27.1.2 The rate of interest will be determined by the Lender on the Quotation Day and (a) shall, except for manifest error, be conclusive and binding on the parties hereto; and (b) shall be notified by the Lender to the Borrower on the date of determina-tion.

10.27.2 10.27.2 Interest Periods

10.2.17.2.1unui Împrumut va fi de trei luni

10.2.17.2.1 Each Interest Period for a Loan will be threemonths, unless otherwise set out in this Clause 7.2.

10.2.27.2.2

( )toare.

10.2.27.2.2 The first Interest Period for a Loan shall start on the Utilisation Date of that Loan and shall end on (and include) the first Payment Date thereafter.

10.2.37.2.3

ina pe (include)

10.2.37.2.3 Each of the subsequent Interest Periods for a Loan shall start on a Payment Date and shall end on (and include) the next succeeding Payment Date.

10.2.47.2.4Împrumut nu va d Data Sca .

10.2.47.2.4 An Interest Period for a Loan shall not extend beyond the Termination Date applicable to that Loan.

10.2.57.2.5 Toate Împrumuturile i-în derulare la oricare se vor conso-

lida un singur Împrumut (Împrumuturile A nu se

10.2.57.2.5 All Loans stemming out of the same Facilityoutstanding on any Payment Date shall be consoli-dated on that Payment Date and treated as one Loan (Loans A shall not be consolidated with Loans

- 32 -HYPO-RO/22009/Draft#9 16.11.2011

vor consolida cu Împrumuturile B). B).

10.37.3 Plata Dobânzii 10.37.3 Payment of Interest

Împrumut oade de Dobân-

aplicabile), cu lu-area în considerare a Articolului 10.1.3.

The Borrower shall pay accrued interest on each Loan on the last day of each Interest Period (i.e., on each Payment Date occurring prior to the Termination Date and on theapplicable Termination Date), subject to Clause 10.1.3.

10.47.4 Calculul Dobânzii 10.47.4 Calculation of Interest

n

("zile efective/360").

Interest shall accrue from day to day and be computed on the basis of a year of 360 days and for the actual number of days elapsed ("actual/360”).

10.57.5 Dobânda de Întârziere 10.57.5 Conventional Default Interest

Împrumutat în conformitate cu prevederile prezentului Con-

cu patru procente p.a (4% p.a.) peste rata dobânzii Perioada

de dobândazii de întârziere va fOrice dobânzi acumulate în conformitate

cu prevederile acestui Articol 7.5 vor fi achitate de Împrumu-tat prompt orului.

If any amount payable under this Agreement by the Bor-rower has not been paid when due, the Borrower shall pay default interest on the overdue amount, from the due date until the date of actual payment at a rate of four per cent. per annum (4% p.a.) above the interest rate, as stipulated in Clause 7.1.1. The Interest Period for default interest pe-riod is to be defined by the Lender. Any interest accruing under this Clause 7.5 shall be payable by the Borrowerpromptly on demand by the Lender.

11.8. MODIFICAREA MODULUI DE CALCUL AL DOBÂNZILOR 11.8. CHANGES TO THE CALCULATION OF INTEREST

11.18.1 Lipsa 11.18.1 Absence of quotations

Subject to Clause 8.2 (Market disruption), if a Reference Bank does not supply a quotation by 11:00 a.m. on the

- 33 -HYPO-RO/22009/Draft#9 16.11.2011

i-l-

Quotation Day, the applicable EURIBOR shall be determined on the basis of the quotations of the remaining Reference Banks.

11.28.2 11.28.2 Market disruption

i-a dobânzii în vede-

umut co-

l

If none of the Reference Banks supplies an interest ratequotation to the Lender to determine EURIBOR, then the rate of interest of that Loan for the Interest Period shall be the percentage rate per annum which is the sum of:

(a) (a) the Margin; and

(b) rata dobânzii

o alege în mod re-zonabil, Împrumut torcalculele aferente Împrumutatului.

(b) the interest rate which expresses as percentage rate per annum the cost to the Lender of funding from whatever source that Lender may reasonably selectand the Lender shall have the obligation to communi-cate to the Borrower the respective calculations.

12.9. COMISIOANE 12.9. FEES

12.19.1 o-misioane: (a) Comision de acordare echivalent cu 1% din suma Facilit jament A)atii, pl atibil iîn termen de 15 zile de la data semnarii prezentului Contract2 decembrie 2010 Comision de acordare echivalent cu 1% din suma F ment B), pl tibil în termen de 15 zile de la […].

12.19.1 The Borrower shall pay to the Lender the following fees: (a) Up-Front Fee of 1% of the Facility A amount(Commitment A), payable within 15 days from the date of signing of this Agreement2 December 2010 and (b) Up-Front Fee of 1% of the Facility B amount (Commit-ment B), payable within 15 days from […].

13.10. 13.10.PAYMENTS AND ACCOUNTS

13.110.1 13.110.1 Payment

13.1.110.1.1Împrumutat în baza prezentului Contract, vor fi efec-

13.1.110.1.1 All payments to be made by the Borrower under this Agreement shall be made in EUR no

- 34 -HYPO-RO/22009/Draft#9 16.11.2011

tuate în Euro cel mai târziu la ora 10 a.m. în ziua Împrumutatul renun

la orice drept pe care l-

later than 10 a.m. on the due date to the desig-nated account. The Borrower waives any right it may have to pay any amount hereunder in a cur-rency other than Euro.

13.1.210.1.2d-

13.1.210.1.2 All payments by the Borrower shall be made in full without any set-off, counterclaim, retention, restriction, reservation, withholdings, deductions or other condition.

13.1.310.1.3 -o zi care nu este o Zi ua prece-

dent .

13.1.310.1.3 Any payment which is due to be made on a day that is not a Business Day shall be made on the preceding Business Day.

13.210.2 Taxe 13.210.2 Taxes

oric i-telor, taxelor vamale, sarcinilor fiscale, taxelor de timbru sau

a-

pentru neachitarea sau achitarea cu întârziere a unor astfel n-

a fi majo

rtorul va primi o i

, din cauza nee-ineri.

Împrumutatul va furniza cu promptitudine Împrumut torului, e-

If at any time the Borrower is required to make any deduc-tion or withholding on the account of tax, levy, impost, duty, stamp duty or any other charge or withholding what-soever nature (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same) from any payment due hereunder, the amount of payment due from the Borrower shall be in-creased to the extent necessary to ensure that, after themaking of such deduction or withholding, the Lender re-ceives a net sum equal to the sum which it should have re-ceived had no such deduction or withholding been required to be made and the Borrower shall indemnify the Lender against any losses or costs incurred by it by reason of any failure of the Borrower to make any such deduction or withholding. The Borrower shall promptly deliver to the Lender any receipts, certificates or other proof evidencing the amounts (if any) paid or payable in respect of any de-

- 35 -HYPO-RO/22009/Draft#9 16.11.2011

n lego

duction or withholding as aforesaid.

14.11. COSTURI SUPLIMENTARE 14.11. INCREASED COSTS

14.111.1 În cazul în care orice modificare sau adoptare a ori-i-l-

m-bare în interpreta area acestora sau în cazul în care respea se limita la cele referitoare la taxe, rezerve, coeficientul de

rezerve tehnice (Deckungsstock a-lului, orice o-

orice Împrumutulr

14.111.1 If the result of any change in or any introduction of any law, regulation, treaty or official directive or request (whether or not having the force of law) after the date hereof or any change in the interpretation or application thereof or compliance by the Lender with the same (in-cluding without limitation those relating to taxes, re-serve, special deposit cash ratio, liquidity, covered fund (Deckungs stock ) or equity adequacy requirements, any requirements relating to the manner in which the Lender is required to allocate financial resources to provide for the making of or in relation to theany Loan or any other form of banking or monetary controls) is that:

(a)a-

cu prevederile acestui Con-tract; sau

(a) the cost to the Lender of making or funding a Loan or maintaining its Commitment hereunder is increased; or

(b)m-

Contract; sau

(b) any amount payable to the Lender or the effective re-turn to the Lender hereunder is reduced; or

(c) u-

conform prezentului Contract;

(c) a Lender makes any payment or forgoes any interest or other return on or calculated by reference to any amount received or receivable by it from the Borrower hereunder;

then and in each case:

- 36 -HYPO-RO/22009/Draft#9 16.11.2011

(i) a-iment;

(i) The Lender shall notify the Borrower upon occurrence of such event in writing;

(ii)v-e-

rivire la aceste costuri suplimentare, re-

u-la prima

vedere (prima facie s)

(ii) from time to time upon demand by the Lender, the Borrower shall pay to the Lender such amount as the Lender reasonably certifies as necessary to compen-sate it for such increased costs, reduction, payment or forgone interest or other return and the certificate of the Lender specifying the amount of such compensa-tion shall be prima faciea evidence; and

(iii) Împrumutatul poate rambursa anticipat Împrumuturile,

i-o-

ti de mai sus, data la care se anprezentul Contract , iar Îm-prumutatul Împrumuturilorlui datorate plus dobânzile acumulate la zi.

(iii) the Borrower may prepay the Loans, on giving not less than 15 Business Days prior notice to the Lender, pro-vided that such notice is given within 30 days of the notification under (i) above whereupon the Commit-ment of the Lender under this Agreement shall be cancelled, and the Borrower transfers pays to the Lender the outstanding loan amount plus accrued in-terest.

14.211.2 n-re-

zonabileo alt unitate operat m-

prumu care acestora descrise mai sus

14.211.2 If any event mentioned in this Clause 11 occurs the Lender shall endeavour to transfer its rights and obliga-tions hereunder to another lending office not being af-fected by such changes and their effects as set forth above.

15.12. 15.12. REPRESENTATIONS AND WARRANTIES

torului, la data prezentului Contract, în conformitate cu pre-vederile acestui Articol 12.

The Borrower makes the representations and warranties set out in this Clause 12 to the Lender on the date of this Agreement.

- 37 -HYPO-RO/22009/Draft#9 16.11.2011

15.112.1 Organizare 15.112.1 Status

(a) Este o perso

ro

(a) It is a public law legal entity duly set up and validly existing under Romanian law.

(b)- s-

(b) It has the power to own its assets and carry on its ac-tivity as it is being conducted.

15.212.2 15.212.2 Binding obligations

m-

tre acesta în t e-gale, valide, cu caracter obli

The obligations expressed to be assumed by it in each Fi-nance Document are, subject to any general principles of law limiting its obligations, legal, valid, binding and en-forceable obligations.

15.312.3 15.312.3 Non-conflict with other obligations

umentelor

nu vor contraveni:

The entry into and performance by it of, and the transac-tions contemplated by, the Finance Documents do not and will not conflict with:

(a) stuia; sau (a) any law or regulation applicable to it; or

(b)acesta sau pentru activele sale.

(b) any agreement or instrument binding upon it or any of its assets.

15.412.4 15.412.4 Power and authority

a-r u-

Documente de Fi

It has the power to enter into and perform, and has taken all necessary action to authorise its entry into and perform-ance of, the Finance Documents to which it is a party and the transactions contemplated by those Finance Docu-ments.

15.512.5 15.512.5 Validity and admissibility in evidence

- 38 -HYPO-RO/22009/Draft#9 16.11.2011

-- r -

i-

sun

All authorisations required or desirable to enable it lawfully to enter into, exercise its rights and comply with its obliga-tions in the Finance Documents to which it is a partyhave been obtained or effected and are in full force and effect.

15.612.6 Deducerea / impozitelor 15.612.6 Deduction of Tax

/ re ineri la i-

are.

It is not required to make any deduction for or on account of any tax from any payment it may make under any Fi-nance Document.

15.712.7 i 15.712.7 No default

(a)în mod rezonabilar putea rezulta din efectuarea unei Trageri.

(a) No Event of Default is continuing or might reasonably be expected to result from the making of any Utilisa-tion.

(b) Nu niciun eveniment sau împrejurare care

ar putea a

Impact Negativ Semnificativ.

(b) No other event or circumstance is outstanding which constitutes (or, with the expiry of a grace period, the giving of notice, the noticing of any determination or any combination of the foregoing, would constitute a default (however described) under any other agree-ment or instrument which is binding on it or to which its assets are subject which might have a Material Ad-verse Effect.

15.812.8 15.812.8 No misleading information

(a)a-

(a) Any factual information provided by the Borrower was true and accurate in all material respects as at the date it was provided or as at the date (if any) at which it is stated.

- 39 -HYPO-RO/22009/Draft#9 16.11.2011

(b) Nu s-a întâmplat nimic

determina ca inftoare cu privire la orice aspect important.

(b) Nothing has occurred or been omitted and no informa-tion has been given or withheld that results in the in-formation provided being untrue or misleading in any material respect.

15.912.9 15.912.9 Financial statements

(a) n-formitate cu Principiile Contabile General Acceptate, care

(a) Its financial statements were prepared in accordance with GAAP consistently applied.

(b) s

anului financiar relevant.

(b) Its financial statements fairly represent its financial condition and operations during the relevant financial year.

(c)i

(c) There has been no material adverse change in its business or financial condition.

15.1012.10 15.1012.10Authorisations and Licences

crierile care pot fi cerute în conformitate -

The Borrower has obtained and shall maintain as long as any amount is outstanding under the Finance Documents or any Commitment is in force all authorisations, consents, li-censes, permits and registrations, which may be required by Romanian law to legally enable it to perform its obliga-tions under the Finance Documents.

15.1112.11 Rangul egal de prioritate (pari passu ) 15.1112.11Pari passu ranking

egal (pari passu ) raportat la pre-o-

stabilit prin lege.

Its payment obligations under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors, except for obligations man-datorily preferred by law.

15.1212.12 i- 15.1212.12No proceedings pending or threatened

- 40 -HYPO-RO/22009/Draft#9 16.11.2011

nente

unor litigii, proceduri arbitrale sau administr e-

nefavorabile, s-ar putea presupune în mod mnificativ.

No litigation, arbitration or administrative proceedings of or before any court, arbitral body or agency which, if ad-versely determined, might reasonably be expected to have a Material Adverse Effect have (to the best of its knowledge and belief) been started or threatened against it.

15.1312.13 Repetare 15.1312.13Repetition

Declara le Repetatede Împrumutat i-

e

The Repeating Representations shall be made by the Bor-rower by reference to the facts and circumstances then ex-isting on the date of each Utilisation Request each Utilisa-tion Date and on the first day of each Interest Period.

16.13. 16.13.INFORMATION UNDERTAKINGS

16.113.1 O la în prezentul Articolul 13 vor data prezentului Contract2

decembrie 2010 n-un

orice Angajament este în derulare (valabil).

16.113.1 The undertakings in this Clause 13 remain in force from the date of this Agreement2 December 2010 for so long as any amount is outstanding under the Finance Documents or any Commitment is in force.

16.213.2 16.213.2 Financial statements

ului: The Borrower shall supply to the Lender:

(a) imediat ce vor fi disponibile, dar în orice caz în termen

sale financiare pentru respectiv

(a) as soon as the same become available, but in any event within 120 days after the end of each of its fi-nancial years its financial statements for that financial year; and

(b) imediat ce vor fi disponibile, dar în orice caz în termen d ui semestru

ul se-

(b) as soon as the same become available, but in any event within 120 days after the end of each half of each of its financial years its financial statements for

- 41 -HYPO-RO/22009/Draft#9 16.11.2011

mestru. that financial half year.

16.313.3 16.313.3 Requirements as to financial statements

(a) u-a fi u-

respective.

(a) Each set of financial statements delivered by the Bor-rower pursuant to Clause 13.2 (Financial statements) shall be certified by a authorized representative of the Borrower as fairly representing its financial condition as at the date as at which those financial statements were drawn up.

(b) Împrumutatul va asigura n-i-

nanciare) este elaborat cu utilizarea Principiilor Contabile General Acceptate.

(b) The Borrower shall procure that each set of financial statements delivered pursuant to Clause 13.2 (Finan-cial statements) is prepared using GAAP.

16.413.4 Informarea 16.413.4 Information

ului: The Borrower shall supply to the Lender:

(a)privire la s-

m-

putea avea un Impact Negativ Semnificativ;

(a) promptly upon becoming aware of them, the details of any litigation, arbitration or administrative proceed-ings which are current, threatened or pending against it, and which might, if adversely determined, have a Material Adverse Effect;

(b) i-t n-

m

(b) promptly, such further information regarding the fi-nancial condition, activity and operations of the Bor-rower as the Lender may reasonably request; and

(c) prompt, al n-e-

standardele practicii bancare standard.

(c) promptly such further information as may be required by applicable banking supervisory laws and regulations and/or in line with standard banking practice.

16.513.5 16.513.5 Notification of default

(a) Împrumutatul va notifica cu promptitudine, Împrumut (a) The Borrower shall notify the Lender of any Default

- 42 -HYPO-RO/22009/Draft#9 16.11.2011

torul cu privire la orice Neîndeplinire a Oble-

rea remedierii acesteia

(and the steps, if any, being taken to remedy it) promptly upon becoming aware of its occurrence.

(b)mnat în mod

e-

(b) Promptly upon a request by the Lender, the Borrower shall supply to the Lender a certificate duly executed by the Borrower certifying that no Default is continu-ing (or if a Default is continuing, specifying the Default and the steps, if any, being taken to remedy it).

17.14. 17.14. GENERAL UNDERTAKINGS

la data prezentului Contract2 decembrie 2010, atât timp cât

sau atât timp cât orice Angajament este în derulare(valabil).

The undertakings in this Clause 14 remain in force from the date of this Agreement2 December 2010 for so long as any amount is outstanding under the Finance Documents or the Commitment is in force.

17.114.1 17.114.1 Authorisations

Cu prom

o-n-

- i-

The Borrower shall promptly obtain, comply with and do all that is necessary to maintain in full force and effect; and, upon reasonable request by the Lender, supply copies to the Lender of, any authorisation, permit or licence required under any law or regulation of Romania to legally enable it to to perform its obligations under the Finance Documents and to ensure the legality, validity, enforceability of any Fi-nance Document.

- 43 -HYPO-RO/22009/Draft#9 16.11.2011

17.214.2 17.214.2 Compliance with laws

toate legile , în cazul în care nerespectarea ace-

stora ar putea produce un Impact Negativ Semnificativ.

The Borrower shall comply in all respects with all laws to which it may be subject, if failure so to comply would have a Material Adverse Effect.

17.314.3 Rangul egal de prioritate (pari passu ) 17.314.3 Pari passu ranking

e-de priorita-

te egal (pari passu ) raportat la toate obli e-

The Borrower undertakes that its indebtedness under this Agreement ranks and will rank at least pari pas su with all the Borrower’s other present and future unsubordinated li-abilities and liabilities of the Borrower which are secured in the same manner.

17.414.4 17.414.4 Security

, va aduce la zi/va actualiza, leaSarcini ie) de prim rang în favoarea Împrumut u-luiatuluiÎmprumut at:

The Borrower shall create and perfect, and at the request of the Lender shall update, the following first ranking Secu-rityies in favour of the Lender, in form and substance satis-factory to the Lender:

(a) de rangul întâi (Contractul de Ga-privind Facilitatea A.

(a) The first ranking Municipal Guarantee (the Munici-pal Guarantee Agreement) concerning Facility A.

(b) de rangul întâi (Contractul de ivind Facilitatea B.

(b) the first ranking Municipal Guarantee (the Municipal Guarantee Agreement) concerning Facility B.

14.5 Alocarea riscurilor 14.5 Risk allocation

riscul cazului for impre-viziunea).

The Borrower bears in all situations the risk of force majeu-re, the risk of unexpected events (cazul fortuit ) and the risk of change of conditions (impreviziunea ).

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18.15. 18.15. EVENTS OF DEFAULT

acest Articolul 15 constituie un Caz de Neîndeplinire a Obliga-iilor.

Each of the events or circumstances set out in this Clause 15 is an Event of Default.

18.115.1 NerambursareaNeplata 18.115.1 Non-payment

ocul oneda în care se prevede plata acestora, cu precizarea

n-

o

The Borrower does not pay on the due date any amount payable by it under any Finance Document at the place at and in the currency in which it is expressed to be payable, provided that this sub-clause shall not apply to any unpaid amount where such failure to pay is remedied within 2 Business Days of its due date.

18.215.2 18.215.2 Other obligations

(a) i-o-

nate la Articolul 15.1 (Neplatarambursarea)).

(a) The Borrower does not comply with any provision of any of the Finance Documents (other than those re-ferred to in Clause 15.1 (Non-payment)).

(b) n-

de zile sau,

egal de prioritate (pari passu )), în termen de 15 zile, de la momente, oricare in-tervine primul i-

e-m-

prumutatului despre neîndeplinirea obli .

(b) No Event of Default under paragraph (a) above will occur if the failure to comply is capable of remedy and is remedied within 30 days or, in relation to Clauses 14.1 (Authorisations), and 14.3 (Pari passu ranking) within 15 days, after the earlier of (i) receipt by Bor-rower of a respective default notice by the Lender and (ii) the Borrower becoming aware of the failure to comply.

18.315.3 18.315.3 Misrepresentation

date sau considerate a fi fost date sau care vor fi repetate

Any representation or statement made or deemed to be made or to be repeated by the Borrower in the Finance

- 45 -HYPO-RO/22009/Draft#9 16.11.2011

document depus de sau în numele Împrumutatului pe baza

doven-

30 de zile de la ,oricare intervine primul

i-u-

,.

Documents or any other document delivered by or on be-half of the Borrower under or in connection with any Fi-nance Document is or proves to have been incorrect or misleading in any material respect when made or deemed to be made or to be repeated and, if capable of remedy, is not remedied within 30 days after the earlier of (i) receipt by the Borrower of a respective default notice by the Lender and (ii) the Borrower becoming aware of the failure to comply.

18.415.4 18.415.4 Cross default

(a) Orice (a) Any Financial Indebtedness of the Borrower is not paid when due or within any originally applicable grace pe-riod.

(b) Orice e-

anticipat ( ca urmare

natura acestuia).

(b) Any Financial Indebtedness of the Borrower is declared to be or otherwise becomes due and payable prior to its specified maturity as a consequence of an event ofdefault (howsoever described).

(c) Orice m-prumutatului este d sau suspendat de un credi-

(indiferent de natura acestuia).

(c) Any commitment for any Financial Indebtedness of the Borrower is cancelled or suspended by a creditor as a consequence of an event of default (howsoever de-scribed).

(d) Orice e-u-

a acesteia ca r (indifer-

ent de natura acestuia).

(d) Any creditor of the Borrower becomes entitled to de-clare any Financial Indebtedness of the Borrower due and payable prior to its specified maturity as a conse-quence of an event of default (howsoever described).

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(e)temeiul acestui Articolul 15.4 în cazul în care (i) care

e-

e în total, la orice mo-1.000.000 Euro (sau echivalentul

(e) No Event of Default will occur under this Clause 15.4 if(i) the aggregate amount of Financial Indebtedness or commitment for Financial Indebtedness falling within paragraphs (a) to (d) above is in the aggregate at any time less than EUR 1,000,000 (or its equivalent in another currency or currencies) or (ii) such event is remedied within 10 Business Days.

18.515.5 18.515.5 Insolvency

(a)a-

i-n-

larat (sau se n-

for .

(a) The Borrower is unable or admits inability to pay its debts as they fall due, or is over-indebted, or is deemed unable to pay its debts as they fall due, or suspends making payments on any of its debts or, by reason of actual or anticipated financial difficulties, commences negotiations with one or more of its credi-tors with a view to rescheduling any of its indebted-ness and, in particular, the Borrower is declared (or declares itself) in insolvency or similar proceedings in accordance with Romanian law.

(b)uale

(b) The value of the assets of the Borrower is less than its liabilities (taking into account contingent and prospec-tive liabilities).

(c)Împrumutatului.

(c) A moratorium is declared in respect of any indebted-ness of the Borrower.

18.615.6 18.615.6 Insolvency proceedings

e- Any corporate action, legal proceedings or other procedure or step is taken in relation to:

(i)i-

(i) the suspension of payments, a moratorium of any in-debtedness or insolvency of the Borrower or similar

- 47 -HYPO-RO/22009/Draft#9 16.11.2011

proceedings in accordance with applicable law; or

(ii) numirea unui administrator judiciar, administrator special sau a altor astfel de persoane oficiale cu privire

e-lor acestuia.

(ii) the appointment of an administrator, administrative receiver, compulsory manager or other similar officer in respect of the Borrower or any substantial part of its assets.

18.715.7 18.715.7 Creditors' process

Orice expropriere, poprire, aplicare a sechestrului, luare în u-

1.000.000 Euro

/autoritatea în termen de 30 de zile.

Any expropriation, attachment, sequestration, distress or execution affects any asset or assets of the Borrower hav-ing an aggregate value of EUR 1,000,000 (or equivalent in any other currency or currencies) and is not discharged within 30 days.

18.815.8 18.815.8 Rescission or Repudiation

.The Borrower rescinds or repudiates any Finance Docu-ment.

18.915.9 a 18.915.9 Material adverse change

caresusceptibil de remediere, nu este remediat în termen de 15 zile de la , oricare intervine primul din partea

unui Impact Negativ Semnificativ.

Any Material Adverse Effect occurs and, if capable of rem-edy, is not remedied within 15 days after the earlier of (i) receipt by the Borrower of a respective default notice by the Lender and (ii) the Borrower becoming aware of the oc-currence of any Material Adverse Effect.

18.1015.10 18.1015.10Licenses

sau a abilitatea, punerea în Any license, consent, registration or approval (governmen-tal or otherwise) required for the validity, enforceability or

- 48 -HYPO-RO/22009/Draft#9 16.11.2011

executare sau legalitatea prezentului Contract sau pentru ori-care Facilitateamai es

legality of this Agreement or for the purposes of the Facility stipulated hereunder is withdrawn or ceases to be in full force and effect.

18.1115.11 Nevalabilitatea 18.1115.11Invalidity

-un Docu-

în conformitate cu prevede

constituie o ) cu efecte la bunurile

Sarcina (ga-) în Contractul d i

Any obligation of the Borrower under any of the Finance Documents is not or ceases to constitute the legal, valid and binding obligation of the Borrower, enforceable in ac-cordance with its terms or, in case of the Municipal Guaran-tee Agreement, it fails to provide effective Security in favor of the Lender over the assets over which the Security is in-tended to be given by the Municipal Guarantee Agreement.

18.1215.12 Accelerarea a- 18.1215.12Acceleration / Unilateral Rescission / Unilateral TEr-mination

Cu ocazia sau ulterior aei unui Caz de ,

poate la sa, prin notificarea Împrumutatului:

On and at any time after the occurrence of an Event of De-fault which is continuing the Lender may at its sole discre-tion by notice to the Borrower:

(a) anulezedeclare toate Angajamenteleul indisponibiliza-te definitiv, moment la care acesta vaacestea vor fi anu-lat imediat indisponibilizate definitivmai poate solicita Trageri;

(a) cancel the all Commitments whereupon they shall im-mediately be cancelled and the Borrower may no longer request Utilisations;

(b) toate Împrumuturile, împreunacumulate sau datorate în temeiul Documentelor de Fi-

devin scadente;

(b) declare that all or part of the all Loans, together with accrued interest, and all other amounts accrued or outstanding under the Finance Documents be immedi-ately due and payable, whereupon they shall become immediately due and payable;

(c) toate Împrumuturile e-ste scadent la cerere, moment la care acestea devin

(c) declare that all or part of the all Loans be payable on demand, whereupon they shall immediately become

- 49 -HYPO-RO/22009/Draft#9 16.11.2011

ului; payable on demand by the Lender; and/or

(d) ea execu-/punerii în executare a Sarcini (g ) sau

n-are;.

(d) take any step to enforce any Security, or exercise any rights of the Lender, under the Finance Documents;.

(e) declare în mod unilateral rezilierea prezentului Con-tract ; pentru claritate toate obliga-

din prezentul Contractîn con-

formitate cu prevederile acestora reziliere uni-lateral a prezentului Contract;

(e) to declare unilaterally the rescission (rezilierea ) of this Agreement; for the sake of clarity all payment obliga-tions of the Borrower under this Agreement continue to produce effects and be applicable in accordance with their terms also after rescission of this Agree-ment; and/or

(f) prezentului Con-pentru claritate toate obliga-

mprumutatului din prezentul Contract n-

ntract.

(f) to declare unilaterally the termination (denuntarea ) of this Agreement; for the sake of clarity all payment ob-ligations of the Borrower under this Agreement con-tinue to produce effects and be applicable in accor-dance with their terms also after termination of this Agreement.

15.13 Punerea în întârziere 15.13 Notification of default

Pentru claritate îdin prezentul Contract întârziere la simpla împlinire a termenului stabilit pentru executarea respectivei oblig .

For the sake of clarity, in connection with each of its obliga-tions under this Agreement the Borrower is de jure in de-fault (de drept în întârziere ) at the mere lapsing of the deadline set out for performance of the respective obliga-tion in accordance with its terms.

19.16. 19.16. INDEMNIFICATION

19.116.1 19.116.1 Indemnity

rdaunele pe care le- r-mare

The Borrower hereby agrees to indemnify the Lender on demand against all documented losses, expenses and li-abilities which the Lender may incur as a consequence of (i) any Default (including but not limited to any interest paid

- 50 -HYPO-RO/22009/Draft#9 16.11.2011

împrumui-

tragerii unui Împrumut indiferent de motive ulterior depunerii unei Cereri de Tragere

Împrumutat. uma acestor pier-

u-

prima facie s

by the Lender for funds borrowed by the Lender to maintain any amounts in default), (ii) the occurrence of any Event of Default, (iii) any repayment or prepayment of a Loan or a part thereof (other than on the last day of an Interest Pe-riod) (iv) the Loan not being made for any reason after a Utilisation Request has been delivered or (v) a Loan (or part of a Loan) not being prepaid in accordance with a no-tice of prepayment given by the Borrower. A certificate by a duly authorised officer of the Lender setting forth the amount of such losses, expenses and liabilities and the ba-sis of calculation thereof, when forwarded to the Borrower shall (save for manifest error) be prima facie evidence of the amount of such losses, expenses and liabilities.

20.17. 20.17. COSTS AND EXPENSES

20.117.1 Costurile de executare 20.117.1 Enforcement costs

i-

u executarea prezentului Contract sau cudin acesta.

The Borrower shall, within 3 Business Days of demand, pay to the Lender the amount of all costs and expenses (includ-ing legal fees) incurred by the Lender in connection with the enforcement of, or the preservation of any rights under, this Agreement.

21.18. 21.18. CHANGES TO THE PARTIES

21.118.1 21.118.1 Assignments and transfers by the Lender

cesiona oricare din drepturile sale ori-numai cu aprobarea Împrumuta-

tului.

The Lender may assign any of its rights to any person only with the Borrower’s prior consent.

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21.218.2 mprumutat 21.218.2 Assignments and transfer by the Borrower

Împrumutatul nu poate cesiona niciunul dintre drepturile sale e-

zentul Contract.

The Borrower may not assign any of its rights or transfer any of its rights or obligations under this Agreement.

22.19. 22.19. PAYMENT MECHANICS

22.119.1 22.119.1 Payments

a-

u-încheierii tran-

e

On each date on which the Borrower or the Lender is re-quired to make a payment under a Finance Document, the Borrower or Lender shall make the same available to the other party for value on the due date at the time and in such funds specified by the Lender as being customary at the time for settlement of transactions in the relevant cur-rency in the place of payment.

22.219.2 22.219.2 Partial payments

pentru a acoperi toate sumele scadente, la acel moment, da-torate de c i-

imputa e-

are ordine:

If the Lender receives a payment that is insufficient to dis-charge all the amounts then due and payable by the Bor-rower under the Finance Documents, the Lender shall apply that payment towards the obligations of the Borrower un-der the Finance Documents in the following order:

(a) în primul rând, asupra sau pentru plata pro rata a comi-m-i-

(a) first, in or towards payment pro rata of any unpaid fees, costs and expenses of the Lender under the Fi-nance Documents;

(b) în al doilea rând, asupra sau pentru plata pro rata a do-a-

te conform prezentului Contract;

(b) secondly, in or towards payment pro rata of any ac-crued interest or commission due but unpaid under this Agreement;

- 52 -HYPO-RO/22009/Draft#9 16.11.2011

(c) în al treilea rând, asupra sau pentru plata pro rata a da-toriilor principalecapitalului scadente, dar neachitate, conform prezentu

(c) thirdly, in or towards payment pro rata of any princi-pal due but unpaid under this Agreement; and

(d) în al patrulea rând, asupra sau pentru plata pro rata a o-

cumentelor de Finan

(d) fourthly, in or towards payment pro rata of any other sum due but unpaid under the Finance Documents.

Articolul 19.2 va prevala asuprautat.

This Clause 19.2 will override any appropriation made by the Borrower.

22.319.3 Interdic ia de compensare umutat 22.319.3 No set-off by Borrower

umutat în temeiul Documente-c-

n-eri) care nu face obiectul unei dispute sau care a fost confir-

- a-

All payments to be made by the Borrower under the Fi-nance Documents shall be calculated and be made without (and free and clear of any deduction for) set-off or counter-claim unless the counterclaim is undisputed or has been confirmed in a final non-appealable judgement.

22.419.4 Moneda Contractului 22.419.4 Currency of account

Moneda Contract a-are

The currency of account is Euro and payment for any sum due from the Borrower under any Finance Document shall be made in Euro.

Împrumutat (sau de Trezorerie pentru Împrumutat) în conformitate cu prezentul

în continuare "Suma e-uma,

- Prima Mo-") în -

If any sum due from the Borrower (or the Treasury on be-half of the Borrower) under this Agreement and/or the Mu-nicipal Guarantee Agreement (hereinafter referred as the "Sum"), or any order or judgment given or made in rela-tion to a Sum,

(i) has to be converted from the currency (the "First Cur-rency") in which that Sum is payable into another currency

- 53 -HYPO-RO/22009/Draft#9 16.11.2011

") în scopul:

(A) întocmirii sau depunerii unei cereri sau dovezi împotriva Împrumutatului (sau a Trezoreriei);

râri ju

Împrumutatul

pentru oricare costuri, pierderi sau daune cauzate de sau ca

(A) cursul de schimb folosit pentru convertirea acelei Sume i-

le de schimb disponibile la momentul înca-

(the "Second Currency") for the purpose of:

(A) making or filing a claim or proof against the Borrower(or the Treasury);

(B) obtaining or enforcing an order or judgment in relation to any litigation or forced enforcement proceedings, or

(ii) is so converted by operation of applicable law,

the Borrower shall as an independent obligation, within three Business Days of demand, indemnify the Lenderagainst any cost, loss or liability arising out of or as a result of the conversion including any discrepancy between (A) the rate of exchange used to convert that Sum from the First Currency into the Second Currency and (B) the rate or rates of exchange available to the Lender at the time of its receipt of that Sum.

23.20. 23.20. NOTICES

23.120.1 Comunicarea în scris 23.120.1 Communications in writing

u-

a-re sau prin servicii de curierat. Orice comunicare scris u-

Any communication to be made in connection with this Agreement shall be made in writing and, unless otherwise stated, may be made by fax, registered mail or by courier service. Any written communication must be registered both by the sender and by the receipient.

23.220.2 Transmitere 23.220.2 Delivery

23.2.120.2.1 Orice comunicare sau document întocmit sau 23.2.120.2.1 Any communication or document made or delivered by one person to another in connection with this Agreement will only be effective when ac-tually received, in particular:

- 54 -HYPO-RO/22009/Draft#9 16.11.2011

primit, în special:

(a)primit într-

(a) if by way of fax, when received in legibleform; or

(b)

când a fost primit prin scriconfirmare de primire;

(b) if by way of letter, when it has been delivered by courier at the relevant address against re-ceipt confirmation or when received by regis-tered mail with recieot confirmation;

c-e

and, if a particular department or officer is speci-fied as part of its address details, if addressed to that department or officer (or any substitute de-partment or officer as any person shall specify for this purpose).

23.320.3 23.320.3 ENGLISH LANGUAGE

23.3.120.3.1în limba

23.3.120.3.1 Any notice given under or in connection with this Agreement must be in English.

23.3.220.3.2 Orice documente transmise în temeiul sau în e-

parate de o notificare)

23.3.220.3.2 All documents provided under or in connec-tion with this Agreement (together with or inde-pendently from a notice) must be:

(a) (a) in English; or

(b)în limba engle-

.

(b) if their original is not in English, accompanied by a certified English translation.

24.21. 24.21. WAIVERS AND REMEDIES

24.121.1 24.121.1 Waivers and Remedies

u- No failure or delay on the part of the Lender exercising any

- 55 -HYPO-RO/22009/Draft#9 16.11.2011

ercitarea dintr-

la acestea.

prezen

power or right or any single or partial exercises of such power or right hereunder shall operate as a waiver thereof. No waiver shall be effective unless it is in writing. The rights and remedies of the Parties herein provided are cu-mulative and not exclusive of any rights or remedies pro-vided by law.

25.22. 25.22.CALCULATIONS AND CERTIFICATES

25.122.1 Conturi 25.122.1 Accounts

prive sau esteîn conturile de-

schise la prima facie s a aspectelor la care se re

In any litigation proceedings arising out of or in connection with a Finance Document, the entries made in the accounts maintained by the Lender are prima facie evidence of the matters to which they relate.

25.222.2 25.222.2 Certificates and Determinations

Orice certificar

la prima vedere (prima facie s)

Any certification or determination by the Lender of a rate or amount under any Finance Document is, in the absence of manifest error, prima facie evidence (Anscheinsbeweis ) of the matters to which it relates.

26.23. PREVEDERI DIVERSE 26.23. MISCELLANEOUS

26.123.1 26.123.1 Disclosure

Împr r-

e-

i-r-

The Lender shall keep confidential all information provided by or on behalf of the Borrower in connection with this Agreement unless required otherwise by any applicable law or regulation, provided that the Lender may disclose to its affiliates and to a prospective assignee, transferee, sub-participant or to any other person with whom it is propos-ing to enter, or has entered into, contractual relations in re-

- 56 -HYPO-RO/22009/Draft#9 16.11.2011

-o în

partenerul contractual . Împrumutatul consimte în mod expres unei astfel de dezvluiri.

lation to this Agreement (a) a copy of this Agreement or any document relating thereto, and (b) any information which the Lender has acquired under or in connection with any of the above mentioned documents or with the con-tractual relationship. The Borrower expressly consents to such disclosure.

26.223.2 Documentele accesorii Contractului 26.223.2 Ancillary documents of the Agreement

ocumente constituie Con-tractului: i-

uele de rambursare a Împrumuturilorlui.

e-derile mode-

niciîn prezentul Contract, saunici n-tract.

The following documents are an integral part of the Agree-ment: (i) the awarding documentation; (ii) the technical proposal and the financial proposal; and (iii) the Loan re-payment schedules for the Loans.

For the avoidance of doubt, the PArties agree that all provi-sions which can be found after the title "Clauze specifice" (specific clauses) in the model services contract included in the awarding documentation and which are not included in this Agreement, do not apply to or in relation to this Agreement.

26.323.3 26.323.3 Partial Invalidity

ezentului a

re a

ale prezentului Contract nu vor fi afectate iar restul prevede-ri

te.

If, at any time, any provision of this Agreement is or be-comes void (nul), invalid or ineffective (inefficient) in any respect under any law of any jurisdiction, the validity or ef-fectiveness of the remaining provisions and this Agreement will not be affected and the remaining provisions and this Agreement remain valid and effective, save for the void, in-valid or ineffective provisions.

n The void, invalid or ineffective provision shall be deemed replaced by such valid and effective provision that in legal

- 57 -HYPO-RO/22009/Draft#9 16.11.2011

n-

fi luat în considerare acel aspect la momentul încheierii prezentului Contract.

and economic terms comes closest to what the Parties in-tended or would have intended in accordance with the pur-pose of this Agreement if they had considered the point at the time of conclusion of this Agreement.

26.423.4 26.423.4 Governing Law

This Agreement shall be governed by the laws of Romania.

26.523.5 26.523.5 Jurisdiction

Toate disputele care se nasc din saui-e-

ânia.

All disputes arising out of or in connection with this Agree-ment, including its conclusion, validity and the rights and duties of the Parties shall be subject to the jurisdiction of the competent Romanian courts of law.

26.623.6 Titlu executoriu, 26.623.6 Writ of execution, Waiver of Immunity

Prezentul Contract constituie titlu executoriu.

(în cea mai

u-rile sale sau pe care l-orice proceduri legale introduse împotriva sa ori a bunurilor

This Agreement constitutes a writ of execution.

The Borrower (to the fullest extent permitted by applicable law) irrevocably and unconditionally waives any right of immunity which it or its assets now have or may hereafter acquire in relation to any legal proceedings brought against it or its assets in relation to this Agreement by the Lender.

26.723.7 Exemplare 26.723.7 Originals

Prezentul Contract a fost semnat în trei exemplare originale,

.

This Agreement has been executed in three originals, which are distributed between the Parties as follows: two originals for the Borrower and one original for the Lender.

- 58 -HYPO-RO/22009/Draft#9 16.11.2011

26.823.8 Limba Contractului 26.823.8 Governing Language

Prezentul Contract va fi semnat în trei exemplare originale la

e-

o-evala.

This Agreement shall be executed in three original versions as of the day and year first above written, each original be-ing in English language and in the Romanian language. In the event of any discrepancy or inconsistency between the English and Romanian language versions of this Agree-ment, the terms of the Romanian language versions shall prevail.

23.9 Clarificare 23.9 Clarification

Contractnu constituie un contract de adeziune în sensul art. 1.175 din noul Cod Civil intrat în vigoa

Con-tract astfel încât acestea nu constituie clauze standard în

din noul Cod Civil intrat în vigoare la 01.10.2011. De aseme-nea, ÎmContract inclusiv clauzele din Anexele la prezentul Contract.

For the sake of clarity the Parties agree expressly that (i) this Agreement does not constitute an adhesion contract as defined by article 1.175 of the new Cicil Code that entered into force on 01.10.2011 and that (ii) the Parties have ne-gociated and agreed expressly all clauses of this Agreementso that these do not constitute standard clauses (clauze standard ) as defined by article 1.202, nor unsual clauses (clauze neuzuale ) as defined by article 1.203 of the new Ci-cil Code. In addition, the Borrower expressly accepts all clauses of this Agreement including the clauses set out in the Schedules to this Agreement.

n- IN WITNESS WHEREOF the parties hereto have executed this Agreement the date first written above.

Împrumutatul/Borrower:

Municipiul Craiova

- 59 -HYPO-RO/22009/Draft#9 16.11.2011

______________________________

Municipiul Craiova/City of Craiova Prin/By:

________________________________


________________________________


_________________________________

Director executiv - DIRECTIA JURIDICA, ASISTENTA DE SPECIALITATE SI CONTENCIOS ADMINISTRATIV , Ovidiu Mischianu – Confirm legali-tatea prezentului Contract

- 60 -HYPO-RO/22009/Draft#9 16.11.2011

str. A.I. Cuza nr. 7, 200585 Craiova, Jud. Dolj, Romania

Telefon/Telephone: +40 251 416578

Telefax/Telefax: +40 251 411561


_________________________________

Prin/By:

____________________________________

Matei Creiveanu - Senior Project Manager

- 61 -HYPO-RO/22009/Draft#9 16.11.2011

Telefon/Telephone: +43 5 90910 1552

Telefax/Telefax: +43 5 90910 91552

- 62 -HYPO-RO/22009/Draft#9 16.11.2011

Anexa 1 / Schedule 1

Partea I/Part IÎmprumutatul/The Borrower

Denumirea Împrumutatului/Name of Borrower x-

Municipiul Craiova/City of Craiova Cod Fiscal/Fiscal Code: 4417214

Partea II/Part IIAngajamentul/Commitment

ului /Name of Lender Angajament A/Commitment A

HYPO NOE Gruppe Bank AG EURO/EUR 11.676.010/11,676,010

/Name of Lender Angajament B/Commitment B

HYPO NOE Gruppe Bank AG EURO/EUR 8.323.990/8,323,990

- 63 -HYPO-RO/22009/Draft#9 16.11.2011

Anexa 2.1/Schedule 2.1

Docu pentru Facilitatea A/Conditions Precedent Documents for Facility A

1. Împrumutatul 1. The Borrower

1.1valabil adoptate a/ale Consiliului Local Craiova prin care

(A)

(i)

inveCraiova - Pavilion Central“, în considerarea avizului emis de Comisie

(ii)privind Facilitatea A,

(iii)prezentul Contrac u

(iv) Împrumutului e-c-

prin care

(B)

privind Facilitatea Aalte documente care trebuie încheiate de Împrumutat în temeiul

1.1 In relation to the Borrower certified copies of the validly adopted resolution(s) of the Craiova local council

(A) approving:

(i) that, as opposed to the content of the awarding documentation and of the local council resolutions re-lated thereto, the value of the financing procurement con-tract (i.e. this Agreement) is only EUR 11,676,010 Euro and that the only public investment financed is the “Craiova Multifunctional Center – Central Building”, con-sidering the pre-aproval issued by the Comission;

(ii) the contracting of the Facility and the Municipal Guarantee concerning Facility A,

(iii) the awarding of the financing procurement contract (i.e. this Agreement) to the Lender and

(iv) the costs and the terms of the Loan and the transac-tions contemplated by the Finance Documents (reflecting the financing structure described under point (i) above)and

(B) authorizing a named person or persons to sign this Agree-ment, the Municipal Guarantee Agreement concerning Facility A, any other Finance Document and any documents to be delivered by the Borrower pursuant to this Agreement or any of the other

- 64 -HYPO-RO/22009/Draft#9 16.11.2011

prezentului Con ; în u-

nicipiului Craiova, vor trebui transmise dovezi .

Finance Documents; to the extent that the named person is an-other person than the mayor of Craiova, it will have to be sent to the Lender proofs concerning its right of signature.

1.2u-

asta

care este parte.

1.2 A specimen of the signature of each person authorised to execute any Finance Document and other documents and notices (including, if relevant, any Utilisation Request) to be signed and/or despatched by it under or in connection with the Finance Documents to which it is a party.

2. Opinii juridice 2. Legal opinions

2.1 Schoenherr si Asociatii SCA, juridici ncipal în forma

Contract.

2.1 A legal opinion of Schoenherr si Asociatii SCA, legal advisers to the Lender in Romania, substantially in the form dis-tributed to the Lender prior to signing this Agreement.

3. 3. Finance Documents

3.1 pri-vind Facilitatea A a-re Împrumutatul este parte, în fiecare caz, semnate în mod corespunz

agrea r.

3.1 This Agreement, the Municipal Guarantee Agreement con-cerning Facility A and each other Finance Document to which the Borrower is expressed to be a party in each case duly executed by each party to such document other than the Lender, each in form and substance satisfactory to the Lender.

4. 4. Other documents and evidence

4.1 utatului r-

mis sau alte documente, care în opinia Îsunt necesare pentru a asigura legalitatea, validitatea, ca-

4.1 A certified copy by or on behalf of the Borrower, of each such law, decree, consent, licence, approval, registration, permission or other necessary document, as is in the opin-ion of the Lender necessary to render the Agreement and the documents thereto, legal valid, binding and enforce-

- 65 -HYPO-RO/22009/Draft#9 16.11.2011

e-curgtoarele:

able, and to enable the Borrower to perform its respective obligations thereunder, including, without limitation, the following:

(a) avizarea rezentului Contract (incluzând a Municipal privind Facilitatea A)

Comisie, în confomitate cu Legea nr. 273/2006 privind

(a) the authorisation of the Facility and this Agreement (in-cluding the Municipal Guarantee concerning Facility A)by the Commission pursuant to the Law no. 273/2006 concerning local public finances;

(b)prezentului Contract în R atoriei publice locale a Împru Municipa-le privind Facilitatea A în R n-

i-nute în conformitate cu regle

(b) evidence (certified copy of) of the registration of the Facility and this Agreement in the local public debt reg-istry (registrul de evidenta a datoriei publice locale) of the Borrower and of the Municipal Guarantee concern-ing Facility A in the local municipal guarantees registry (registrul de videnta a garantiilor locale) of the Bor-rower, both registries being maintained in accordance with the relevant legal provisions;

(c) dovada (în copie) a m-Publice cu privire la

prezentul Contract, G privind Facilita-tea A i-tate cu legile aplicabile;

(c) evidence (copy of) of the notice sent by each Borrower to the Ministry of Public Finance in relation to this Agreement, the Municipal Guarantee concerning Facility A, the other Finance Documents in accordance with ap-plicable law;

4.2moment de Împrumutat în conformitate cu Articolul 9 (Co-misioane) au fost achitate sau vor fi achitatTragerii.

4.2 Evidence that the fees, costs and expenses then due from the Borrower pursuant to Clause 9 (Fees) have been paid or shall be paid by the Utilisation Date.

4.3le-ar solicita în mod rezonabil.

4.3 Such other documents or evidence as the Lender reasonably may require.

- 66 -HYPO-RO/22009/Draft#9 16.11.2011

Anexa 2.2/Schedule 2.2

pentru Facilitatea B/Conditions Precedent Documents for Facility B

1. Împrumutatul 1. The Borrower

1.1 Cu pvalabil adoptate a/ale Consiliului Local Craiova prin care

(i) completarea contractului de împrumut semnat cu

Euro 3.990 Euro pentru a ajunge la a-

bi Contractarea unui împrumut bancar de 20.000.000 Euro pentru o per i-�R�D�G�� G�H�� G�H�� D�Q�L�� v�Q�� Y�H�G�H�U�H�D�� D�V�L�J�X�U��U�L�L�� I�L�Q�D�Q� ��U�L�L�� X�Q�R�U��obiect �L�Y�H��G�H��L�Q�Y�H�V�W�L� �L�L��G�H��L�Q�W�H�U�H�V��S�X�E�O�L�F��O�R�F�D�O��G�L�Q��0�X�Q�L�F�L�S�L�X�O��Craiova ", în considerarea avizului emis de Comisie pentru contractarea sumei de 8.323.990 Euro;

(ii) B modificarea corespunztoare a contractului de împrumut semnat de Împrumutat

pale pentru Facili-tatea B

(iii) complet de 20.000.000 Euro

tura de finanla punctele (i) de mai sus);

semneze prezentul Contract

1.1 In relation to the Borrower certified copies of the validly adopted resolution(s) of the Craiova local council

(A) approving:

(i) the making up of the loan agreement signed with the Lender on 2 December 2010 for EUR 11,676,010 with the difference of EUR 8,323,990 in order to achieve the total amount of EUR 20,000,000 in accordance with the terms set out through the public procurement procedure "Con-tractarea unui împrumut bancar de 20.000.000 Euro pe n-�W�U�X��R��S�H�U�L�R�D�G��G�H��G�H��D�Q�L��v�Q��Y�H�G�H�U�H�D��D�V�L�J�X�U��U�L�L��I�L�Q�D�Q� ��U�L�L�� X�Q�R�U�� R�E�L�H�F�W�L�Y�H�� G�H�� L�Q�Y�H�V�W�L� �L�L�� G�H�� L�Q�W�H�U�H�V�� S�X�E�O�L�F�� O�R�F�D�O�� G�L�Q��Municipiul Craiova ", considering the pre-approval issued by the Commission for contracting the amount of EUR 8,323,990;

(ii) the contracting of the Facility B and appropriate amendment of the loan agreement signed by the Bor-rower with the Lender on 2 December 2010 for EUR 11,676,010 and of the Municipal Guarantee concerning Facility B; and

(iii) the costs and the terms of the full Loan of EUR 20,000,000 and the transactions contemplated by the Fi-nance Documents (reflecting the financing structure de-scribed under points (i) and (ii) above); and

(B) authorizing a named person or persons to sign this Agree-

- 67 -HYPO-RO/22009/Draft#9 16.11.2011

acesta) privind Facilitatea B(inclu , orice alte Documente de

m-prumutat în temeiul prezentului Contract (inclusiv Facilitatea B)

r-soanavor trebui transmise dovezi privind dreptul de sem

ment (including any addendum thereto), the Municipal Guarantee Agreement concerning Facility B (including any addendum thereto), any other Finance Document and any documents to be delivered by the Borrower pursuant to this Agreement (including Facility B) or any of the other Finance Documents; to the extent that the named person is another person than the mayor of Craiova, it will have to be sent to the Lender proofs concerning its right of signature.

1.2 Un spec

u-men

u expediate de aceasta

care este parte.

1.2 A specimen of the signature of each person authorised by any document mentioned at 1.1 above to execute any Fi-nance Document and other documents and notices (in-cluding, if relevant, any Utilisation Request) to be signed and/or despatched by it under or in connection with the Finance Documents to which it is a party.

2. Opinii juridice 2. Legal opinions

2.1j ncipal în forma

Contract (inclusiv Facilitatea B).

2.1 A legal opinion of Schoenherr si Asociatii SCA, legal advisers to the Lender in Romania, substantially in the form dis-tributed to the Lender prior to signing this Agreement (in-cluding Facility B).

3. 3. Finance Documents

3.1 Prezentul Contract (inclusiv Facilitatea B), Contractul de privind Facilitatea B Docu-

e-

r-

3.1 This Agreement (including Facility B), the Municipal Guaran-tee Agreement concerning Facility B and each other Fi-nance Document to which the Borrower is expressed to be a party in each case duly executed by each party to such document other than the Lender, each in form and sub-stance satisfactory to the Lender.

4. 4. Other documents and evidence

- 68 -HYPO-RO/22009/Draft#9 16.11.2011

4.1 utatului r-

mis sau alte documente, care în opinia Împsunt necesare pentru a asigura legalitatea, validitatea, ca-

(inclusiv Facilitatea B)b-

oarele:

4.1 A certified copy by or on behalf of the Borrower, of each such law, decree, consent, licence, approval, registration, permission or other necessary document, as is in the opin-ion of the Lender necessary to render the Agreement (in-cluding Facility B) and the documents thereto, legal valid, binding and enforceable, and to enable the Borrower to perform its respective obligations thereunder, including, without limitation, the following:

(a) B (inclusiv Facilitatea B) privind Facilitatea B

ublice locale;

(a) the authorisation of the Facility and this Agreement (in-cluding Facility B) and the Municipal Guarantee con-cerning Facility B by the Commission pursuant to the Law no. 273/2006 concerning local public finances;

(b) Bprezentului Contract (inclusiv Facilitatea B) în Registrul

privind Facilitatea B în Regi-

conformitate cu regle-ment rile legale applicabile;

(b) evidence (certified copy of) of the registration of the Facility B and this Agreement (including Facility B) in the local public debt registry (registrul de evidenta a datoriei publice locale) of the Borrower and of the Mu-nicipal Guarantee concerning Facility B in the local mu-nicipal guarantees registry (registrul de videnta a ga-rantiilor locale) of the Borrower, both registries being maintained in accordance with the relevant legal provi-sions;

(c) m-

prezentul Contract (inclusiv Facilitatea B) u-privind Facilitatea B

aplicabile;

(c) evidence (copy of) of the notice sent by each Borrower to the Ministry of Public Finance in relation to this Agreement (including Facility B), the Municipal Guaran-tee concerning Facility B, the other Finance Documents in accordance with applicable law;

- 69 -HYPO-RO/22009/Draft#9 16.11.2011

4.2moment de Împrumutat în conformitate cu Articolul 9 (Co-misioane) au fost achitate.

4.2 Evidence that the fees, costs and expenses then due from the Borrower pursuant to Clause 9 (Fees) have been paid.

4.3le-ar solicita în mod rezonabil.

4.3 Such other documents or evidence as the Lender reasonably may require.

- 70 -HYPO-RO/22009/Draft#9 16.11.2011

ANEXA 3/SCHEDULE 3/

FORMULAR DE CERERE DE TRAGERE/FORM OF UTILISATION REQUESTCatre/To:HYPO NOE Gruppe Bank AG+43 2742 492 092 462

Craiova, [data �B]

Cerere de Tragere/Utilisation RequestStimati domni,/Dear Sirs,Ne referim la Contractul de Împrumut la Termen din data de 2 decembrie 2010 încheiat între Municipiul Craiova în calitate de ÎmHYPO NOE Gruppe Bank […] ("Contractul").

We refer to the Term Loan Facility Agreement dated 2 December 2010 made between City of Craiova as the Borrower and HYPO NOE Gruppe Bank AG as Lender, as amended on […] (the "Agreement").

Aceasta este o Cerere de Tragere. / This is an Utilisation Request.

de Tragere.

Terms defined in the Agreement have the same meaning in this Utilisation Request unless given a different meaning in this Utilisation Re-quest.

: / We hereby give you notice in accordance with Clause 4 of the Agreement that we wish to borrow an amount of:

[valoare �B] Euro din Facilitatea/under Facility [A sa u B �B]

la data tragerii /on date [data tragerii �B].

- 71 -HYPO-RO/22009/Draft#9 16.11.2011

�$�O�W�H��&�R�Q�G�L� �L�L��3�U�H�O�L�P�L�Q�D�U�HTragere.

We hereby confirm that each condition specified in Clause 3.2 (Further conditions precedent ) is satisfied on the date of this Utilisation Re-quest.3.Sumele astfel trase din Împrumut vor fi creditate în contul / The proceeds of the Loan should be credited to account: [cont �B],

deschis la / opened with: [banca �B],

având codul SWIFT / having the SWIFT code: [�B].4. This Utilisation Request is irrevocable.

Municipiul Craiova/City of Craiova

Prin:/By: [�B]

- 72 -HYPO-RO/22009/Draft#9 16.11.2011

Anexa 4/ Schedule 4

Formular pentru Planul de Rambursare/Form of Repayment Schedule

Facilitate A/Facility A Facilitate B/Facility B

Datele de Plata / Pay-ment Dates

Natura platii / Nature of payment Natura platii / Nature of payment

31/12/2010 Dobanda / Interest -

31/03/2011 Dobanda / Interest -30/06/2011 Dobanda / Interest -30/09/2011 Dobanda / Interest -31/12/2011 Dobanda / Interest Dobanda / Interest31/03/2012 Dobanda / Interest Dobanda / Interest30/06/2012 Dobanda / Interest Dobanda / Interest30/09/2012 Dobanda / Interest Dobanda / Interest31/12/2012 Dobanda / Interest Dobanda / Interest31/03/2013 Dobanda / Interest Dobanda / Interest30/06/2013 Dobanda / Interest Dobanda / Interest

30/09/2013 Dobanda / Interest Dobanda / Interest

Rata / Instalment31/12/2013 1 Dobanda +Principal / Inter-

est+PrincipalDobanda / Interest








est+Principal1 Dobanda +Principal / Inter-

est+Principal



est+PrincipalRata / Instalment 30/06/2015 7 Dobanda +Principal / Inter- 3 Dobanda +Principal / Inter-

- 73 -HYPO-RO/22009/Draft#9 16.11.2011

est+Principal est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal




- 74 -HYPO-RO/22009/Draft#9 16.11.2011




est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal




- 75 -HYPO-RO/22009/Draft#9 16.11.2011




est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal




- 76 -HYPO-RO/22009/Draft#9 16.11.2011




est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal



est+Principal31/12/2030 - 65 Dobanda +Principal / Inter-




est+Principal

- 77 -HYPO-RO/22009/Draft#9 16.11.2011

Anexa 5.1/ Schedule 5.1

Calendar Orientativ de Trageri din Facilitatea A/ Indicative Schedule for Utilisations under Facility A

Anul / YearSuma totala de utilizat in cursul anului calendaristic / Total amount to

be drawn during calendar year

2010 EURO/EUR 200.000/200,000

2011 EURO/EUR 4.300.000/ 4,300,000

2012 EURO/EUR 4.176.010 /4,176,010

2013 EURO/EUR 3.000.000 / 3,000,000

- 78 -HYPO-RO/22009/Draft#9 16.11.2011

Anexa 5.2/ Schedule 5.2

Calendar Orientativ de Trageri din Facilitatea B/ Indicative Schedule for Utilisations under Facility B

Anul / YearSuma totala de utilizat in cursul anului calendaristic / Total amount to

be drawn during calendar year

2012 EURO/EUR 2.497.197/2,497,197

2013 EURO/EUR 3.329.596/3,329,596

2014 EURO/EUR 2.497.197/2,497,197

Draft #416.11.2011

HYPO-RO/22009

www.schoenherr.eu

mobilia-Agreement for guarantee by own income specified at art. 5 para. (1) lett. a) of Law no. 273/2006 and movable security

interest in rem

[…]2011 signed on this day […] 2011 by and between:

Municipiul Craiova, având sediul în Craiova, str. A.I. Cuza, nr. 7, primar

Antonie Solomon, în calitate de garant (denumit în continuare pe scurt "Garant")

the City of Craiova, with its registered seat in Craiova, A.I. Cuza str. no. 7, 200585, Dolj county, fiscal code 4417214, represented by mayor Antonie Solomon, in its capacity as guarantor (referred to hereinafter as the "Guarantor")

and


având sediul social în Kremser Gasse 20, 3100 St. Polten, DVR

Comerciale din St. Pölten, Austria sub nr. FN 99073xîn " ea de servicii în mod direct pe teritoriul României"

[…], [Matei Creiveanu - Senior Project Manager], conform împuternicirii în calitate de beneficiar al garan-

Beneficiar").

HYPO NOE Gruppe Bank AG, a credit institution established and authorised in accordance with the laws of Republic of Austria, with its registered seat at Kremser Gasse 20, 3100 St. Polten, DVR 0042862, Austria, registered with the Companies Register of the Commercial Courts of St. Pölten, Austria under no. FN 99073x, registered in the "List of the credit institutions which have notified to the National Bank of Romania the direct provision of serviceswithin the territory of Romania" (date of notification to the Na-tional Bank of Romania is 13.07.2007), represented by […], under power of attorney and [Matei Creiveanu - Senior Project Man-ager], under power of attorney in its capacity as beneficiary of the guarantee (referred to hereinafter as the "Beneficiary").


(A) e-neficiar la data de 2 decembrie 2010 (denumit în continuare "Con-tractul de Credit ", iar creditul respectiv (Facilitatea A) va

(A) the provisions of the loan agreement concluded by and be-tween the Guarantor and the Beneficiary on 2 December 2010 (re-ferred to hereinafter as the "Initial Loan Agreement", and the

Anexa2 la HCL 413/2011

Presedinte de sedinta,Niuri Radu Valentin TUI

http://www.schoenherr.eu

- 2 -HYPO-RO/22009/Draft #4 16.11.2011

fi denumit în continuare "Creditul A"), astfel cum a fost modificat prin actul a …] prin care a fost suma

" ", iar credi-tul respectiv (Facilitatea B) va fi "Creditul B") i-

"Con-tractul de Credit",

respective loan facility shall be referred to hereinafter as the "Fa-cility A"), as amended by addendum no. 1 dated […] by which the borrowed amount was made up (referred to hereinafter as the "Addendum", and the respective loan facility made available un-der the Addendum shall be referred to as "Facility B"), the Initial Loan Agreement and the Addendum shall be referred to hereinaf-ter as the "Loan Agreement",

(B)publice locale (de în continuare "Legea 273/2006"),

(B) the provisions of art. 63 of Law no. 273/2006 concerning local public finance (hereinafter referred to as "Law 273/2006"),

(C) […] (C) the provisions of the Resolution no. […] of Craiova Local Council, and

(D) prevederile Avizului nr. […]/[…]2011 emis de Comisia pentru Autorizarea Împrumuturilor Locale,

(D) the provisions of Approval no. […]/[…]2011 issued by the Commission for Authorisation of Local Loans,

are prin in Legea nr.

denumit în continuare "Contractul

the Guarantor and the Beneficiary enter into this agreement for guarantee by own income specified at art. 5 para. (1) lett. a) ofLaw no. 273/2006 and movable security interest in rem (hereinaf-ter referred to as the "Guarantee Agreement"), subject to theterms and conditions set out below.

1. r-mitate cu prevederile art. 63 al

arantului de-

numite în continuare "Veniturile Proprii n-formitate cu prevederile Titlului X, Capitolul III din Noul Cod Civil intrat în vigoare la data de 1 octombrie 2011 o

soldului credi-tor al conturilor) deschise de Garant la Trezoreria Statului Unitatea Municipiului Craiova ( în con-tinuare "Trezoreria") indicate în anexa 1 la prezentul Con-

(denumite în continuare "Conturileipoteca

Trezorerie fiind împ Garan ").

1. The Guarantor irrevocably and unconditionally creates (i) in accordance with the provisions of art. 63 of Law no. 273/2006 a first ranking guarantee over the Guarantor’s own income specified at art. 5 para. (1) lett. a) of Law no. 273/2006 (hereinafter referred to as the "Own Income") and (ii) in accordance with the provisions of Title X, Chapter III of the New Civil Code entered into force on 1 October 2011 a first ranking movable security over the accounts(and over the credit balance of accounts) opened by the Guarantor with the State Treasury, the Operative Unit of the City of Craiova (hereinafter referred to as the "Treas-ury") specified in the annex 1 to this Guarantee Agreement and in which the Own Income is collected (hereinafter re-ferred to as the "Accounts") (the guarantee over Own In-come and the movable security over the Accounts opened with the Treasury are collectively hereinafter referred to as

- 3 -HYPO-RO/22009/Draft #4 16.11.2011

the "Guarantee").

2. ipoteca

/iregularitate cu privire la una din acestea nu va afecta pe

2. The guarantee over Own Income and the movable security over the Accounts are created independently and any ir-regularity with respect to one of them shall not affect the other.

3. n-

sau viitoare, determinate, determinabile sau eventuale, re-Creditul B din Contractul de

Creditului B în va-loare de 8.323.990 i-

în editul B, inclusiv cheltuieli de orice fel pentru

recuperarea tuturor sumelor datorate cum ar fi cheltuieli de n-

tractului de Credit aferent Creditului B

3. The Guarantor creates the Guarantee in favour of the Bene-ficiary for the purpose of securing the payment obligations of the Guarantor, either present or future, determined or determinable, arising out or in connection with Facility B ofthe Loan Agreement, including the obligation to repay the principal in the amount of EUR 8,323,990 and the obligation to pay the interests and commissions set out in the Loan Agreement in relation to Facility B, including any expendi-tures for recovery of all amounts owed, such as court ex-penditures and expenditures incurred in connection with the enforcement of the Loan Agreement as concern Facility Band/or of the Guarantee.

4. i-indiferent dac

, conform art. 63 alin. (2) din Legea 273/2006.

4. The Guarantee Agreement shall apply with priority against any other claims of third parties towards the Guarantor, ir-respective of whether such third parties have or not knowl-edge of the Guarantee Agreement, in accordance with art. 63 paragraph (2) of Law 273/2006.

5. 5. The Guarantor undertakes to take all necessary measures to collect in a timely manner the Own Income.

6. m-

pentru asigurarea în bugetele proprii a creditelor bugetare ne n-tractul de Credit

6. The Guarantor shall undertake all the necessary measures, including transfers of budgetary credits, in accordance with the law, to ensure in own budgets the budgetary credits necessary for the payment of the amounts set out in the Loan Agreement in relation to Facility B and in this Guaran-tee.

7. Contractul de Credit ,ate

7. The Loan Agreement, including as concerns Facility B, and this Guarantee Agreement have been duly authorised and create obligations which may be imposed on the local

- 4 -HYPO-RO/22009/Draft #4 16.11.2011

Garantului. budget of the Guarantor.

8. e-zilnic

B n-

8. The Guarantor represents and warrants that at the date of the execution of this Guarantee Agreement and on a daily basis for as long as any obligations arising under the Loan Agreement in relation to Facility B and under this Guaran-tee Agreement are outstanding:

8.1

in i-tatea Garantului;

8.1 the conclusion of this Guarantee Agreement and the carry-ing out of the obligations undertaken hereof do not contra-dict, breach or conflict with any legal provisions applicable to the activity of the Guarantor;

8.2 le necesare o-

8.2 it has obtained all the approvals, authorisations and opin-ions necessary for the entering into and carrying out of the obligations undertaken under this Guarantee Agreement;

8.3 nici Veniturile Proprii, nici Conturile sau soldul acestora nu

ai Garantului.

8.3 neither the Own Income, nor the Accounts or their balanceare subject to any enforcement proceeding initiated by other creditors of the Guarantor.

9. 9. The Guarantor undertakes:

9.1

disponibile pentru plata sumelor datorate conform Contrac-tului de Credit

9.1 to deliver to the Beneficiary, upon request, the up-to-date status of Own Income collected up to that moment and available for the payment of the amounts owed under the Loan Agreement in relation to Facility B and/or the Guaran-tee Agreement;

9.2 n-a-

u-

9.2 to notify the Treasury in accordance with annex 2 of this Guarantee Agreement and to deliver an evidence of the no-tification satisfactory to the Beneficiary (ex. a copy of the notification bearing a registration number with the Treas-ury) within three (3) business days from the execution of this Guarantee Agreement;

9.3c-

tueze tot ceea ce va fi necesar sau cerut de lege în vederea

9.3 to deliver to the Beneficiary any information or documents as the Beneficiary may reasonably request and to under-take all that is necessary or required by law to maintain the

- 5 -HYPO-RO/22009/Draft #4 16.11.2011

Guarantee valid and effective.

10. sau inac-(de ex. o omisiune) care ar diminua sau ar face ina-

-sau beneficiile Be-neficiarului rezultând din Contractul de CreditCreditul B sau ca-

i din pre-.

10. The Guarantor undertakes not to take any action or to re-frain from any actions (i.e. an omission) which would re-duce or render ineffective, in whole or in part, the rights and/or benefits of the Beneficiary arising out of the Loan Agreement in relation to Facility B and/or the Guarantee Agreement or that could prejudice in any way the Benefici-ary’s rights under this Guarantee Agreement.

11.oricare sume datorate Beneficiarului conform Contractului de Credit , pentru punerea în exe-

n-n-

ând plata imedi-în continuare "Notifica-

").

pentru data emiterii No

11. In any situation when the Guarantor does not pay when due any amount owed to the Beneficiary in accordance with the Loan Agreement in relation to Facility B, for the purpose of enforcing this Guarantee, the Beneficiary shall deliver to the Guarantor and to the Treasury by assistance of a courtenforcement officer a notice (call) for payment requesting an immediate payment of the amounts owed (referred to hereinafter as the "Notice of Payment"). For any foreign exchange operation necessary for purposes of the Notice of Payment, the Beneficiary shall use the relevant exchange rate published by the National Bank of Romania for the date when the Notice of Payment is issued.

12.i-

n-tractului de Credit în

aprobarea Garantului la momentul respectiv sau îndeplini-e-

a-

. Garantul e-

12. The Guarantor hereby instructs and gives its consent for the Treasury to pay to the Beneficiary within a (one) busi-ness day as of the receipt of the Notice of Payment the amounts owed by the Guarantor pursuant to the Loan Agreement in relation to Facility B and specified by the Beneficiary in the Notice of Payment, without the approval of the Guarantor being necessary at that time or other for-malities being fulfilled. If the Treasury does not dispose from the Accounts the amounts requested by the Benefici-ary specified in the Notice of Payment within the agreed term, the Guarantor undertakes, within three business days as of the Beneficiary’s request, to require the Treasury to advance the respective amounts to the Beneficiary within (one) business day. The Guarantor undertakes to ensure that the payment instruction it sends to the Treasury will

- 6 -HYPO-RO/22009/Draft #4 16.11.2011

eze plata . comply with all legal requirements applicable so that the Treasury will immediately effect the requested payment.

13.Creditul B din n-

nr. 22/2002 privind n-

este obligat ca, în termen de 45 de zile calendaristice-

la data la care Garantul a primit Notifica

13. If the enforcement of the payment obligations arising from or in connection with Facility B of the Loan Agreement and this Guarantee does not commence or does not continue due to the lack of funds, pursuant to art. 5 of the Govern-ment Ordinance no. 22/2002 concerning the enforcement of the payment obligation of the public institutions, estab-lished by writs of execution, the Guarantor is obliged, within 45 calendar days, to undertake all the necessarymeasures to fulfil its payment obligations. This term is cal-culated as of the date when the Guarantor has received the Notice of Payment.

14.

13 e-i-

vit altor o-trivit art. 2466 din Noul Cod Civil intrat în vigoare la data de 1 octombrie 2011.

14. If the Guarantor and/or the Treasury do not comply with the payment obligation within the term set out under clauses 12. and 13., as the case may be, the Beneficiary shall be entitled to request the forced enforcement pursu-ant to the Civil Procedure Code and/or pursuant to other legal provisions applicable to the matter at hand, in particu-lar pursuant to art. 2466 of the New Civil Code entered into force on 1 October 2011.

15. ÎN CAZ DE NEEXECUTARE CREDITORUL (BENEFICIARUL) POATE FOLOSI MIJLOACELE PROPRII PENTRU LUAREA ÎN

(RESPECTIVSUMELE CREDITOARE ALE CONTURILOR).

stingerea inte

rezul Creditul B din Contractul de a .

15. IN CASE OF DEFAULT THE CREDITOR (THE BENEFICIARY) MAY USE ITS OWN MEANS IN ORDER TO TAKE POSSESSION OF THE CHARGED ASSETS (NAMELY THE OWN INCOME AND THE BALANCE OF THE ACCOUNTS).

The forced enforcement is permitted until full settlement of all payment obligations of the Guarantor towards the Bene-ficiary under or in connection with Facility B of the Loan Agreement and/or the Guarantee Agreement.

- 7 -HYPO-RO/22009/Draft #4 16.11.2011

16. e-zorerie pentru Garant) în conformitate cu Contractul de Îm-prumut a-

Suma") sau cu orice ordin u-

(i) trebuie tr- ("Prima Mo--

(" ") în scopul:

(A) întocmirii sau depunerii unei cereri sau dovezi împotriva Garantului (sau a Trezoreriei);

o-, sau

,

Garantul r-Beneficiarul pentru

oricare costuri, pierderi sau daune cauzate de sau ca rezul-

cursul de schimb folosit pentru convertirea acelei Sume din Pride schimb disponibile Beneficiarului la momentul

Sumei.

16. If any sum due from the Guarantor (or the Treasury on be-half of the Guarantor) under the Loan Agreement in relation to Facility B and/or the Guarantee Agreement (hereinafter referred as the "Sum"), or any order or judgment given or made in relation to a Sum,

(i) has to be converted from the currency (the "First Cur-rency") in which that Sum is payable into another currency (the "Second Currency") for the purpose of:

(A) making or filing a claim or proof against the Guarantor (or the Treasury);

(B) obtaining or enforcing an order or judgment in relation to any litigation or forced enforcement proceedings, or

(ii) is so converted by operation of applicable law,

the Guarantor shall as an independent obligation, within three Business Days of demand, indemnify the Beneficiaryagainst any cost, loss or liability arising out of or as a result of the conversion including any discrepancy between (A) the rate of exchange used to convert that Sum from the First Currency into the Second Currency and (B) the rate or rates of exchange available to the Beneficiary at the time ofits receipt of that Sum.

17. conform Contractului de Credit

e-ntru refinan-

ice locale.

17. The amounts owed by the Guarantor under the Loan Agreement in relation to Facility B and under the Guarantee Agreement do not represent obligations or liabilities of the Government and shall be reimbursed from the local budget of the Guarantor as well as out of the amounts obtained from the entering into loans for refinancing of the local pub-lic debt.

18. a-le Mobiliare ( "Arhiva") prin grija

18. The Guarantee shall be registered with the Electronic Ar-chive for the Movable Securities (hereinafter referred to as the "Archive") by the Beneficiary. The Beneficiary shall

- 8 -HYPO-RO/22009/Draft #4 16.11.2011

un operator al Arhivei n-

u-

sens.

immediately deliver to the Guarantor a copy of the evi-dence of registration issued by the Archive operator. Fur-thermore, the Guarantor undertakes to register the Guar-antee with the Register of evidence of local guarantee of the Guarantor and to notify the Guarantee in accordance with the law to the Ministry of Public Finance and to imme-diately deliver to the Beneficiary evidence in this respect.

19.n-

Creditul B din Contractul de Credit a-.

i în executarea prezentului e-

19. The Guarantee created hereby shall be valid until full set-tlement of the Guarantor’s payment obligations towards the Beneficiary under or in connection with Facility B of the Loan Agreement and/or the Guarantee Agreement. No pro-vision of this Guarantee Agreement and no action of the Beneficiary may be construed as representing a tacit/implicit waiver of the Beneficiary to the Guarantee.

20. 20. This Guarantee Agreement is a writ of execution.

21. Orice modificare sau completare a prezentului Contract de n-

tracta

21. Any amendments or supplements to this Guarantee Agree-ment shall be agreed by both contracting parties and shall be made mandatorily in written form.

22. o- 22. This Guarantee Agreement is governed by Romanian law.

23. Toate disputele care se nasc din sau n-tul Contract

23. All disputes arising out of or in connection with this Guaran-tee Agreement, including its conclusion, validity and the rights and duties of the Parties shall be subject to the juris-diction of the competent Romanian courts of law.

24.ma

u-rile sale sau pe care l-cu orice proceduri legale introduse împotriva sa ori a bunu-

.

24. The Guarantor irrevocably and unconditionally waives (to the largest extent permitted by applicable law) any rights of immunity of which it or any of its assets currently benefits or which may be acquired by the Guarantor in the future in connection with any legal proceedings initiated against it or against its assets in connections with this Guarantee Agreement.

- 9 -HYPO-RO/22009/Draft #4 16.11.2011

25. Pentru claritate p i) prezentul Con-nu constituie un contract de adeziune în

sensul art. 1.175 din noul Cod Civil intrat în vigoare la p

toate clauzele prezentului astfel încât acenici clauze neuzuale în sensul art. 1.203 din noul Cod Civil intrat în vigoare la 01.10.2011. De asemenea, Garantul ac-

Contract de Garan-inclusiv clauzele din Anexele la prezentul Contract de

.

25. For the sake of clarity the parties agree expressly that (i) this Guarantee Agreement does not constitute an adhesion contract as defined by article 1.175 of the new Cicil Code that entered into force on 01.10.2011 and that (ii) the par-ties have negociated and agreed expressly all clauses of this Guarantee Agreement so that these do not constitute standard clauses (clauze standard ) as defined by article 1.202, nor unsual clauses (clauze neuzuale ) as defined byarticle 1.203 of the new Cicil Code. In addition, the guaran-tor expressly accepts all clauses of this Guarantee Agree-ment including the clauses set out in the Schedules to this Guarantee Agreement.

26. trei exem-

r-e-

va prevala în relaexemplare originale, iar Beneficiarul prime un exemplar original.

26. This Guarantee Agreement has been executed in threeoriginal copies, each copy in English and Romanian lan-guages. In case of inconsistencies between the English ver-sions and the Romanian version, the Romanian version shall prevail in the relationship between parties. The Guar-antor receives two original copies and the Beneficiary re-ceives one original copy.

[�5�H�V�W�X�O��D�F�H�V�W�H�L��S�D�J�L�Q�L��D��I�R�V�W��O��V�D�W��J�R�D�O��v�Q��P�R�G��L�Q�W�H�Q� �L�R�Q�D�W��7�K�H��U�H�P�D�L�Q�G�H�U��R�I��W�K�L�V��S�D�J�H��Z�D�V��L�Q�W�H�Q�W�L�R�Q�D�O�O�\��O�H�I�W��E�O�D�Q�N��]

- 10 -HYPO-RO/22009/Draft #4 16.11.2011

Garant / Guarantor

Municipiul Craiova / City of Craiova

_____________________________

Primar Antonie Solomon

_____________________________


__________________________________


___________________________________

Director executiv - DIRECTIA JURIDICA, ASISTENTA DE SPECIALITATE SI CONTENCIOS ADMINISTRATIV, Ovidiu Mischianu – Confirm le-galitatea prezentului Contract de G

- 11 -HYPO-RO/22009/Draft #4 16.11.2011

Beneficiar / Beneficiary


_____________________________

[…]

_____________________________

[Matei Creiveanu - Senior Project Manager]

- 12 -HYPO-RO/22009/Draft #4 16.11.2011

Anexa 1

Lista Conturilor Garantului la Trezorerie

Annex 1

List of the Accounts of the Guarantor opened with the Treasury

1. RO43TREZ29121040204XXXXX 1. RO43TREZ29121040204XXXXX

2. RO42TREZ2912107020101XXX 2. RO42TREZ2912107020101XXX




6. a-rant la Trezorerie pentru a încasa oricare dintre veniturile

273/2006.

6. as well as any other account opened at present or in the fu-ture by the Guarantor with the Treasury, for the purpose of collecting any of the own income specified in art. 5 para. (1) lett. a) of Law no. 273/2006.

[NOTE: Please confirm account number .]

- 13 -HYPO-RO/22009/Draft #4 16.11.2011

Anexa 2

[ ]

Annex 2

[the Letterhead of the Guarantor and the registration no.]

NOTICE OF GUARANTEE

Statului Unitatea MunicipiuluiCraiova

To the State Treasury the Operative Unit of the City of Craiova

(denu Garant") în data de […]2011 am consti-tuit în favoarea

We hereby notify you that the undersigned, the City of Craiova (referred to hereinafter as the "Guarantor") on […]2011 have created to the benefit of

HYPO NOE Gruppe Bank AG, o ins

având sediul social în Kremser Gasse 20, 3100 St. Polten, DVR

Comerciale din St. Pölten, Austria sub nr. FN 99073xîn "servicii în mod direct pe teritoriul României"

i-nuare "Beneficiar"),

HYPO NOE Gruppe Bank AG, a credit institution established and authorised in accordance with the laws of Republic of Austria, with its registered seat at Kremser Gasse 20, 3100 St. Polten, DVR 0042862, Austria, registered with the Companies Register of the Commercial Courts of St. Pölten, Austria under no. FN 99073x, registered in the "List of the credit institutions which have notified the National Bank of Romania the direct provision of services within the territory of Romania" (date of notification to the Na-tional Bank of Romania is 13.07.2007) (referred to hereinafter as the "Beneficiary"),

(i) în conformitate cu prevederile art. 63 ale Legii 273/2006 o ga-

denumite în continuare "Veniturile Proprii e-vederile Titlului X, Capitolul III din Noul Cod Civil intrat în vigoare la data de 1 octombrie 2011 o u-

deschise de Garant la Trezoreria Statului Unitatea u-nicipiului Craiova u-mite în continuare "Conturile o-

ipoteca m-Garan ")

(i) pursuant the provisions of art. 63 of Law no. 273/2006 a first ranking security over the Guarantor’s own income specified at art. 5 para. (1) lett. a) of Law no. 273/2006 (hereinafter referred to as the "Own Income") and (ii) in accordance with the provisions of Title X, Chapter III of the New Civil Code entered into force on 1 October 2011 a first ranking movable security over the receivables of all (present and future) accounts opened by the Guarantor with the State Treasury the Operative Unit of the City of Craiova terri-torial unit and in which the Own Income is collected (hereinafter referred to as the "Accounts") (the security over Own Income and the movable security over the Accounts at the Treasury are hereinafter referred to as the "Guarantee").

- 14 -HYPO-RO/22009/Draft #4 16.11.2011

ta la care Beneficia-

e-în continuare " i-

aceasta în Notificareaunei alte forma

We hereby irrevocably instruct you that upon the delivery to you of a payment notice by the Beneficiary setting out the Benefici-ary’s intention to enforce the Guarantee and requesting the pay-ment of any amount (referred to hereinafter as the "Notice of Payment"), to debit the Accounts and to make the payments of the amounts requested under the Notice of Payment to the Bene-ficiary, without the carrying out of any additional formality.

The Beneficiary may deliver more than one Notice of Payment.

n-st

We acknowledge that our consent included in this notification represents a sufficient basis to allow you to make the above men-tioned payments, no other additional instruction being necessary in this respect at the time when the payment request is made.

Anexa A –

Anexa B – Specimen autentic de

Annex A – Copy of the Guarantee Agreement

Annex B – Authentic specimen of signature of the persons who have executed the Guarantee Agreement for and on behalf of the Guarantor.

Municipiul Craiova / City of Craiova

_____________________________

[· ]

_____________________________

[· ]

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