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interest and then to reduce the principal amount. <br />8. This Note is issued pursuant to the LOAN CONTRACT between the CWCB and the <br />BORROWER. The LOAN CONTRACT creates security interests in favor of the CWCB to <br />secure the prompt payment of all amounts that may become due hereunder. Said <br />security interests are evidenced by a Security Agreement ( "Security Instruments ") of <br />even date and amount and cover certain revenues, real property, water rights and/or <br />accounts of the BORROWER. The LOAN CONTRACT and Security Instruments grant <br />additional rights to the CWCB, including the right to accelerate the maturity of this <br />Note in certain events. <br />9. If any annual payment is not paid when due or any default under the LOAN CONTRACT <br />or the Security Instruments securing this Note occurs, the CWCB may declare the <br />entire outstanding principal balance of the Note, all accrued interest, and any <br />outstanding late charges immediately due and payable, and the indebtedness shall <br />bear interest at the rate of 7% per annum from the date of default. The CWCB shall <br />give the BORROWER written notice of any alleged default and an opportunity to cure <br />within thirty (30) days of receipt of such notice before the BORROWER shall be <br />considered in default for purposes of this Promissory Note. <br />10. The BORROWER and any co- signer or guarantor hereby agree that if this Note or <br />interest thereon is not paid when due or if suit is brought, then it shall pay all <br />reasonable costs of collection, including reasonable attorney fees. In the event of any <br />bankruptcy or similar proceedings, costs of collection shall include all costs and <br />attorney fees incurred in connection with such proceedings, including the fees of <br />counsel for attendance at meetings of creditors' committees or other committees. <br />11. This Note shall be governed in all respects by the laws of the State of Colorado. <br />BORROWER: <br />(SEAL) <br />By , / � 2 ? ,rs Jd <br />Signature/Title <br />Attest: <br />By 1s+�/ <br />— � Ic , PI2estncs#�-IT <br />' 7 ignature/Title <br />Appendix 2A to Amendment No. 2 <br />Loan Contract C150324 <br />Page 2 of 2 <br />