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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 /> 9. 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 /> 10. This'Nete shall be governed in all respects by the laws of the State of Colorado. <br /> 'e <br /> - BORROWER: Terrace Irrigation Company <br /> o <br /> By pct <br /> �._ Gerald Faucette, President <br /> Atte <br /> By / / 4--vi <br /> eveL..A7 <br /> John Riddick, Secretary/Treasurer . ; ''Z'. <br /> LI <br /> Appendix 2 to Loan Contract C150332 <br /> Page 2of2 <br />