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LPPD000514
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LPPD000514
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Last modified
3/9/2011 2:40:34 PM
Creation date
4/3/2007 8:27:36 PM
Metadata
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Template:
Loan Projects
Contract/PO #
C150133
Contractor Name
Low Line Ditch Company, The
Contract Type
Loan
Water District
64
County
Logan
Bill Number
MC3
Loan Projects - Doc Type
Project Completion Letter
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l • <br />Agreement grant additional rights to the CWCB, including the right to accelerate the <br />maturity of this Note in certain events. <br />8. If any annual payment is not paid when due or any default under the LoaN CoNTRacr or <br />the Security Agreement securing this Note occurs, the CWCB may declare the entire <br />outstanding principal balance of the Note, all accrued interest, and any outstanding late <br />charges immediately due and payable, and the indebtedness shall bear interest at the <br />rate of 7% per annum from the date of default. The CWCB shall give the BoRROwER <br />written notice of any alleged default and an opportunity to cure within thirty (30) days <br />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 hereby agree tha# if this Note or interest <br />thereon is not paid when due or if suit is brought, then it shall pay a!I reasonable costs <br />of collection, including reasonable attorney fees. In the event of any bankruptcy or <br />similar proceedings, costs of collection shall include all costs and attorney fees incurred <br />in connection with such proceedings, including the fees of counsel for attendance at <br />meetings of creditors' committees or other committees. <br />10. This Note shall be governed in all respects by the laws of the State of Colorado. <br />BORROWER The Low Line Ditch <br />Company, a Colorado nonprofit <br />corporation <br />(SEAL) <br />Attest: <br />By l��e�. �.�...2Q. <br />Donald Schell, President <br />r J <br />B __ � ,i �� <br />Steven J. Kai er, Corporate Secretary <br />
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