LPCD000230 ‎(2)‎

• Contract/PO #: C150173
• Contractor Name: Upper Surface Creek Domestic Water Users Association
• Contract Type: Loan
• Water District: 0
• County: Delta
• Loan Projects - Doc Type: Project Completion Letter

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8. If any annua-I payment is not paid when due or any default under the LOAN CONTRACT or the
Security Instruments securing this Note occurs, the CWCS may declare the entire outstanding
principal balance of the Note, all accrued interest,. 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 BORRowERshall be considered in default for purposes of this Promissory Note.

9. 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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1 O. This Note shall be governed in all respects by the laws of the State ot Colorado.

BORROWER: Upper Surface Creek
Domestic Water Users Association, a
Colorado nonprofit corporation

By

By ~a.~
Dan A. Hawkins, Corporate Secretary

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