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The LoaN CoNrRaCT and Security instruments grant additional rights to the <br />CWCB, including the right to accelerate the maturity of this Note in certain <br />events. <br />9. If any annual payment is not paid when due or any default under the Loarv <br />CotvT�acT or the Security Instruments securing this Note occurs, the CWCB may <br />declare the entire outstanding principal balance of the Note, all accrued interest, <br />and any outstanding late charges immediately due and payable, and the <br />indebtedness shall bear interest at the rate of 7% per annum from the date of <br />default. The CWCB shall give the BoRROwER written notice of any alleged <br />default and an opportunity to cure within thirty (30) days of receipt of such <br />notice before the BoRROwER shall be considered in default for purposes of <br />this Promissory Note. <br />10. The BoRROwER and any co-signer or guarantor hereby agree that if this Note or <br />interest thereon is not paid when due or if suit is brought, then it shall pay all <br />reasonable costs of collection, including reasonable attomey fees. In the event <br />of any bankruptcy or similar proceedings, costs of collection shall include all costs <br />and attorney fees incurred in connection with such proceedings, including the <br />fees of counsel for attendance at meetings of creditors' committees or other <br />committees. <br />11. This Note shall be governed in all respects by the laws of the State of Colorado. <br />(SEAL) <br />BORROwER: South Side Reservoir <br />Company <br />� • <br />By �` - -' �r <br />Gale B rnhardt, President <br />Appendix A to Loan Contract C150130 Amendment No.1 <br />Page 2 of 2 <br />