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LOAN CONTRACT and SECURITY INSTRUMENTS grant additional rights to the CWCB, <br /> including the right to 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 /> t`� hod 3 BORROWER: Wadley Farms, Filing No. 3 <br /> � <br /> Homeowner's Association, a Colorado <br /> 404 nonprofit corporation <br /> (S E A L) <br /> By Let .iftt4L <br /> Signature <br /> Attest: <br /> NAME: B i err G" I✓k <br /> By: �. .j2.140 <br /> Signature /i/f /� <br /> TITLE: . Il E�'fv Ue e <br /> NAME: ' ` . .l°0 DATE: / Z 5 r ZO i 7 <br /> TITLE: _SeC1rLT z+r ATE: t I e,S I Apt 4- <br /> Appendix 2 to Loan Contract C150379 <br /> Page 2 of 2 <br />