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8. This Note is issued pursuant to the LOAN CONTRACT between the CWCB and the BORROWER. <br /> The LOAN CONTRACT creates security interests in favor of the CWCB to secure the prompt <br /> payment of all amounts that may become due hereunder. Said security interests are <br /> evidenced by a Security Agreement ("Security Instruments") of even date and amount and <br /> cover certain revenues, real property, water rights and/or accounts of the BORROWER. The <br /> LOAN CONTRACT and Security Instruments grant additional rights to the CWCB, including the <br /> right to accelerate the maturity of this Note in certain events. <br /> 9. If any annual payment is not paid when due or any default under the LOAN CONTRACT or the <br /> Security Instruments securing this Note occurs,the CVVCB may declare the entire outstanding <br /> principal 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 from 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 the BORROWER shall be 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 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 /> 11. This Note shall be governed in all respects by the laws of the State of Colorado. <br /> BORROWER: Consolidated Home Supply Ditch <br /> and Reservoir Company, a Colorado nonprofit <br /> corporation <br /> (S E.A L) <br /> By anik <br /> Signature/Title <br /> Attest: Date :/•61/,` <br /> By <br /> e/Citle <br /> Date X <br /> Appendix A to Amendment Nlo. 1 <br /> Loan Contract C150375 <br /> Page 2 of 2 <br />