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and the BORROWER. Th2 LOAN CONTRACT CfeSteS S@CUflty interests in favor of the CWCB to secure the prompt payment of all amounts that may become due hereunder. Said security interests are evidenced by a Security Agreement of even date and amount. The LoArv CoNTRACT and Security Agreement grant additional rights to the CWCB. 9. 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 BoRROwER shall be considered in default for purposes of this PROMissoRY NorE. 10. The BoRROwER and any co-signer or guarantor hereby agree that if this PROnnissoRY 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. 11. Pursuant to Section 11-57-209 C.R.S., if a member of the Board of Directors of the BORROWER, or any officer or agent of the District acts in good faith, no civil recourse shall be available against such member, officer, or agent for payment of the principal of or interest on this PROnnisSORY NoTE. Such recourse shall not be available either directly or indirectly through the Board or the BoRROwER, or otherwise, whether by virtue of any constitution, statute, rule of law, enforcement of penalty, or otherwise. By the acceptance of this PROnnissoRY NorE and as a part of the consideration of its sale or purchase, CWCB specifically waives any such recourse 12. This PROMISSORY NOTE is issued by virtue of and in full conformity with the Constitution of the State of Colorado; Title 30, Article 20, Part 5, C.R.S.; Title 11, Article 57, Part 2, C.R.S.; and all other laws of the State of Colorado thereunto enabling. Pursuant to §11-57-210, C.R.S., such recital shall be conclusive evidence of the validity and the regularity of the issuance of this PROMISSORY NOTE after its delivery for value. 13. All of the terms, covenants, conditions, agreements, provisions and stipulations contained in the Loan Contract which are to be kept and performed by BoRROwER are hereby made a part of this PROMissoRY NoTE to the same extent and with the same force and effect as if they were fully set forth herein. 14. This PROMissoRY NoTE shall be governed in all respects by the laws of the State of Colorado. [remainder of page intentionally left b/ankJ Appendix 2 to Loan Contract C150274 Page 2 of 3 12368`111? 16151 7