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<br />principal balance of the Note, all accrued interest, and any outstanding late charges <br />immediately due and payable, and the indebtedness shall bear interest at the rate of 7% per <br />annum from the date of default. The CWCB shall give the BORROWER written notice of any <br />alleged default and an opportunity to cure within thirty (30) days of receipt of such notice <br />before the BORROWER shall be 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 <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 connection <br />with such proceedings, including the fees of counsel for attendance at meetings of creditors' <br />committees or other committees. <br /> <br /> <br />1 q.cThisNgte shall be governed in all respects by the laws of the State of Colorado. <br /> <br />BORROWER: The Union Ditch Company, a <br />Colorado nonprofit corporation <br /> <br />By <br /> <br />!h Oik <br /> <br />, G~ Alles, President <br /> <br />Attest <br /> <br />By ~~ <br />Donna Coble, Corporate Secretary <br /> <br />Appendix 2 to Loan Contract C150171'2 <br />Page 2 of 2 <br />