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� <br />Security Agreement or Deed of Trust securing this Note occurs, the CWCB may declare the <br />entire outstanding principal balance of the Note, all accrued interest, and any outstanding late <br />charges immediately due and payable, and the indebtedness shall bear interest at the rate of <br />7% per annum from the date of default. The CWCB shall give the BoRROwER wriiten notice of <br />any 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 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 />10. This Note shall be governed in all respects by the laws of the State of Colorado. <br />(SEAL) <br />BORROWER: Kem Reservoir and Ditch <br />Company, a Colorado nonprofit corporation <br />g � C� ��� �. ,�,G�'� <br />Y <br />W. Wa e Miller, President <br />Attest: <br />By <br />G� <br />u ie Chester, Corporate Secretary <br />