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<br />in certain events. <br /> <br />9. If any annual payment is not paid when due or any default under the LOAN CONTRACT or <br />the Security Agreement or Deed of Trust h:mi'n this Note occurs, the CWCB may <br />declare the entire outstanding principal balalCe t e, all accrued interest, and any <br />outstanding late charges immediatel;g;.nd paya , nd the indebtedness shall bear <br />interest at the rate of 7% per annum heh-aJriif~ult. The CWCB shall give the <br />BORROWER written notice of any allegeCl efall..!l t!9. ortunity to cure within thirty <br />(30) days of receipt of such notice before the BORR . '. all be considered in default <br />for purposes of this Promissory Note. <br /> <br />10. 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 <br />connection with such proceedings, including the fees of counsel for attendance at <br />meetings of creditors' committees or other committees. <br /> <br />,!" <br /> <br />\.,C\lH;,,,:; <br /> <br />, '. 4 <br />" f;; ,.,.., <br />- . ',..'" c,'~Jfp.o RAT E <br />: " :' ,-' i ' I :," '3 <br />" .'-" S:EAL <br />' ..,'" ...... . '" <br />, cd. · " ,:"'~ <br />',f.> .\ '. <br />, I ~Attesh" <br />. de ,~! 1 J , ". <br /> <br />11. This Note shall be governed in all respects by the laws of the State of Colorado. <br /> <br />BORROWER: Lower Arkansas Water <br />Management Association, a Colorado <br />nonprofit corporation <br /> <br />By <br /> <br /> <br />By <br /> <br /> <br />Page 2 of 2 <br />