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CWCB. 8. The CWCB shall give the BORROWER written notice of any alleged default and an opportunity to cure within thirty (30) days of receipt of such notice before the BORROWER shall be considered in default for purposes of this PROMISSORY NOTE. 9. The BORROWER and any co-signer or guarantor hereby agree that if this PROMISSORY NOTE or interest thereon is not paid when due or if suit is brought, then it shall pay all reasonable costs of collection, including reasonable attorney fees. In the event of any bankruptcy or similar proceedings, costs of collection shall include all costs and attorney fees incurred in connection with such proceedings, including the fees of counsel for attendance at meetings of creditors' committees or other committees. 10. This PROMISSORY NOTE shall be governed in all respects by the laws of the State of Colorado. 11. This Note is issued pursuant to and under the authority of §11-57-210, C.R.S. and §31-35- 413, C.R.S., and pursuant to such statutes, the foregoing recital shall be conclusive evidence of the validity and the regularity of the issuance of this Note after its delivery for value, shall conclusively impart full compliance with all of the provisions of Title 31, Article 35, Part 4, C.R.S., and this Note containing such recital shall be incontestable for any cause whatsoever after its delivery for value. 12. This Note, including the interest hereon, is payable solely from the Pledged Revenues, does not constitute a debt or indebtedness of the BORROWER within the meaning of any constitutional or statutory provision or limitation, and shall not be considered or held to be a general obligation of the BORROWER. BORROWER: Castle Pines North Metropolitan District, acting by and through its Water Activity Enterprise (SEAL) By �/ Signature Attest: NAME: Keith Dodd TITLE: President DATE: October 15, 2015 By Signature NAME: Janet Burnham TITLE: Secretary DATE: October 15, 2015 {00466562.DOCX/} Appendix 2 Page 2 of 2