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8. If any annual payment is not paid when due or any default under the LoAN CoNTR�4CT or the <br />Security Agreement, Deed of Trust, or Assignment securing this Note occu�s, the CWCB may <br />declare the entire outstanding principal balance of the Note, all accrued interest, and any <br />outstanding late charges immediately due and payable, and the indebtedness shall bear <br />interest at the rate of 7% per annum from the date of default. The CWCB shall give the <br />BoRROwER written notice of any aileged default and an opportunity to cure within thirly (30) <br />days of receipt of such notice before the BORROWER shall be considered in default for <br />purposes of this Promissory Note. <br />9. The BoRROwER and any co-signer or guarantor h y agree t if is Note or interest <br />thereon is not paid when due or if suit is brought, t it shall p reasonable costs of <br />collection, including reasonable attorn s. In th event of any bankruptcy or similar <br />proceedings, costs of collection shall ' clude I costs a ttorney fees incurred in connection <br />with such proceedings, in ding th ees of unsel for attendance at meetings of creditors' <br />committees or other mm ees. <br />10. This Note shall be go in all respects by the laws of the State of Colorado. ' <br />BORROWER South Side Ditch Company, a <br />Colorado nonprofit corporation <br />(SEAL) <br />B 1�... � ���.�,�� <br />_ John A. Whiteside, President <br />Jon T. Stephens, Corporate Secretary <br />�4p�e�+i� to Loan Contract C150129 <br />