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a <br />the BORROWER. The LOAN CONTRACT creates security interests in favor of the <br />CWCB to secure the prompt payment of all amounts that may become due <br />hereunder. Said security interests are evidenced by a Security Agreement <br />( "Security Instruments ") of even date and amount and cover certain revenues of <br />the BORROWER. The LOAN CONTRACT and Security Instruments grant additional <br />rights to the CWCB:, including the right to accelerate the maturity of this Note in <br />certain events. <br />If any annual payment is not paid when due or any default under the LOAN <br />CONTRACT or the Security Instruments <br />may declare the entire outstanding p <br />interest, and any outstanding <br />the indebtedness shall bear int <br />of default. The CWCB shall givV he 8 <br />default and an opportunity �tcu 4 <br />notice before the BORROWS be <br />this Promissory Note. <br />ing this Note occurs, the CWCB <br />balance of the Note, all accrued <br />imed' tely due and payable, and <br />Hof `t* /o per annum from the date <br />" en notice of any alleged <br />ktf(30) days of receipt of such <br />dered in default for purposes of <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 <br />of any bankruptcy or similar proceedings, costs of collection shall include all <br />costs and attorney fees incurred in connection with such proceedings, including <br />the fees of counsel for attendance at meetings of creditors' committees or other <br />committees. <br />11. This Note shall be governed in all respects by the laws of the State of <br />Colorado. <br />BORROWER: Orchard Mesa Irrigation <br />District acting by and through the <br />Mutual Mesa Lateral Enterprise <br />(SEAL) <br />By <br />L rry Fuller, President <br />Attest: <br />By <br />Orman Friend, Secretary <br />Appendix 1 to C153723 Amendment No. 1 <br />Page 2 of 2 <br />