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accelerate the maturity of this PROMISSORY NOTE in certain events. <br />8. If any annual payment is not paid when due or any default under the LOAN CONTRACT or <br />the SECURITY INSTRUMENTS securing this PROMISSORY NOTE occurs, the CWCB may <br />declare the entire outstanding principal balance of the PROMISSORY NOTE, all accrued <br />interest, and any outstanding late charges immediately due and payable, and the <br />indebtedness shall bear interest at the rate of 7% per annum from the date of default. <br />The CWCB shall give the BORROWER written notice of any alleged default and an <br />opportunity to cure within thirty (30) days of receipt of such notice before the <br />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 PROMISSORY <br />NOTE or 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 />10. All of the terms, covenants, conditions, agreements, provisions, and stipulations <br />contained in the LOAN CONTRACT which are to be kept and performed by BORROWER are <br />hereby made a part of this PROMISSORY NOTE to the same extent and with the same <br />force and effect as if they were fully set forth herein. <br />11. This PROMISSORY NOTE shall be governed in all respects by the laws of the State of <br />Colorado. <br />BORROWER: <br />(SEAL) <br />Byf!.� ' CFrank Eckhardt. <br />Attest: <br />B Y <br />is. <br />David Eckhardt, Corporate Secretary <br />Appendix 2 to Loan Contract C150338 <br />Page 2 of 2 <br />