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principa 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 rom 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 ie BORROWER shall be considered in default for purposes of this Promissory Note. <br />9. The BqRROWER 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 />collectic ri, including reasonable attorney fees. In the event of any bankruptcy or similar <br />procee ngs, costs of collection shall include all costs and attorney fees incurred in connection <br />with su h proceedings, including the fees of counsel for attendance at meetings of creditors" <br />committ aes or other committees. <br />10. This Nc te shall be governed in all respects by the laws of the State of Colorado. <br />BORROWER: Last Chance Ditch Company, a <br />Colorado nonprofit corporation <br />(SE <br />Attest: <br />By <br />James French, President <br />Iarold'Nelson, Secretary <br />Appendix 2 to Loan Contract 0150318 <br />Page 2 of 2 <br />