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<br />8. If any annual payment is not paid when due or any default under the LOAN CONTRACT or the <br />Security Instruments securing this Note occurs, the CWCB may declare the entire outstanding <br />principal balance of the Note, all accrued interest, and any outstanding late charges <br />immediately due and payable, and the indebtedness shall bear interest at the rate of 7% per <br />annum from the date of default. The CWCB shall give the BORROWER written notice of any <br />alleged default and an opportunity to cure within thirty (30) days of receipt of such notice <br />before the BORROWER shall be considered in default for purposes of this Promissory Note. <br /> <br />9. The BORROWER and any co-signer or guarantor hereby agree that if this Note or interest <br />thereon is not paid when due or if suit is brought, then it shall pay all reasonable costs of <br />collection, including reasonable attorney fees. In the event of any bankruptcy or similar <br />proceedings, costs of collection shall include all costs and attorney fees incurred in connection <br />with such proceedings, including the fees of counsel for attendance at meetings of creditors' <br />committees or other committees. <br /> <br />...\\\.~J Ut1, :q~(, :t~" <br /> <br />J"":" ',:')'~';.:~>~~.:>\. <br />I 'J/~: ~ttes~.~\ ~..\ U <br />"f.,. p:0<~ '.~.~:.". , <br />'. ~ -:.:: <..:;> ,,'.' I: 00 .., · <br />.". . ....c. ~ By, ";,'. ' <br />'r:;. t: "<.::.}.;.~~ea'r5pi1 Smart, Corporate Secretary <br /> <br />'~'i";.,,,!,.., "'h"H': ,,::. ",~",..' <br /> <br />1 O. This Note shall be governed in all respects by the laws of the State of Colorado. <br /> <br />BORROWER: Smart Brothers, Inc., <br />a Colorado corporation <br /> <br />~V~ <br /> <br />Austin Smart, President <br /> <br />(SEAL) <br /> <br />By <br /> <br />Page 2 of 2 <br />