Laserfiche WebLink
- <br /> 8. This Promissory Note is issued pursuant to the LOAN CONTRACT between the CWCB <br /> and 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 ("Security <br /> Instruments") of even date and amount and cover certain revenues, real property, <br /> water rights and/or accounts of the BORROWER. The LOAN CONTRACT and Security <br /> Instruments grant additional rights to the CWCB, including the right to accelerate the <br /> maturity of this Promissory Note in certain events. <br /> 9. If any annual payment is not paid when due or any default under the LOAN CONTRACT <br /> or 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 /> 10. 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 /> 11. This Promissory Note shall be governed in all respects by the laws of the State of <br /> Colorado. <br /> BORROWER: Thunderbird Water and <br /> Sanitation District <br /> (S E A L) <br /> By/e1y- NeVii"1 <br /> Attest: Signature <br /> Name Larry G. Morris <br /> By <br /> Signature Title President <br /> Name Michael New <br /> Title Assistant Secretary Date September 10, 2015 <br /> Date September 10, 2015 <br /> Appendix A to Amendment No. <br /> Page 2 of 2 <br />