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<br />date of default. The CWCB shall give the BORROWER written notice of any alleged default and an <br />opportunity to cure within thirty (30) days of receipt of such notice before the BORROWER shall be <br />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 thereon is <br />not paid when due or if suit is brought, then it shall pay all reasonable costs of collection, including <br />reasonable attorney fees. In the event of any bankruptcy or similar proceedings, costs of collection <br />shall include all costs and attorney fees incurred in connection with such proceedings, including the <br />fees of counsel for attendance at meetings of creditors' committees or other committees. <br /> <br />10. This Note shall be governed in all respects by the laws of the State of Colorado. <br />BORROWER: Lake Arrowhead Water Association, a <br /> <br />crno~%npro~1i~ <br />By ( Q v!JiWv <br /> <br />Leslie L. Lieser, President <br /> <br />(SEAL) <br /> <br />Attest: <br /> <br />By ~.,4, ~------- <br />Richard D. Haines, Corporate Secretary <br /> <br />Page 2 of 2 <br />