PROJC01739 ‎(3)‎

• Contract/PO #: C153768
• Contractor Name: Lower Arkansas Water Management Association
• Contract Type: Loan
• Water District: 67
• County: Bent
• County: Prowers
• Bill Number: SB 96-124
• Loan Projects - Doc Type: Contract Documents

CWCB, including the right to accelerate the maturity of this Note in certain events.

9. If any annual payment is not paid when due or any default under the LOAN CONTRACT or the
Security Agreement or Deed of Trust securing this Note occurs, the CWCB may declare the
entire outstanding principal balance of the Note, all accrued intere.st, and any outstanding
late charges immediately due and payable, and the indebtedness shall bear interest at the
rate of 7% per annum from the date of default. The CWCB shall give the BORROWER
written notice of any alleged default and an opportunity to cure within thirty (30) days of
receipt of such notice before the BORROWER shall be considered in default for purposes of
this Promissory Note.

10. The BORROWER and any co-signer or guarantor hereby agree that if this Note or interest
thereon is not paid when due or if suit is brought, then it shall pay all reasonable costs of
collection, including reasonable attorney fees. In the event of any bankruptcy or similar
proceedings, costs of collection shall include all costs and attorney fees incurred in
connection with such proceedings, including the fees of counsel for attendance at meetings
of creditors' committees or other committees.

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11 . This Note shall be governed in all respects by the laws of the State of Colorado.

BORROWER: Lower Arkansas Water
Management Association, a Colorado
nonprofit corporation

BY~~,p~nt

By

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