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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 />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 shal~ include all costs and attorney fees incurred in connection <br />with such proceedings, including the fees of counsel for atten t meetings of creditors' <br />committees or other committees. <br />10. This Note shall be governed in all r ec y the law of the Stat lorado. <br />,,~'` f~,. '> BoR ER: Carpenter and Mitchell Ditch <br />: ~ ~. ~ ~-;.. . . . : . : '. '~ , <br />:~~ !. ~ : • ,~~~., ~... ,,~ ~-;. Company, Inc., a Colorado nonprofit <br />:~~~ ~;~ F,;i'~ '~r~°~ ~ corporation <br />~ .., , ~~-.:> ~ , <br />. ~ ( 5.~~~'A L ): ~ ~ <br />, - 'ak ; ~" `'~; . BY <br />~ ' '~ .'~~'~ Eldon Simmons, President <br />Attest: <br />By <br />Sheryl Bruc , Secretary-Treasurer <br /> <br />Appendix 2 to Loan Contract C150201 <br />Page 2 of 2 <br />