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INSTRUMENTS grant additional rights to the CWCB, including the right to accelerate the maturity <br /> 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 the <br /> SECURITY INSTRUMENTS securing this Note occurs, the CWCB may declare the entire <br /> outstanding 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 Note shall be governed in all respects by the laws of the State of Colorado. <br /> BORROWER: Lower Poudre Augmentation <br /> Company, a Colorado nonprofit corporation <br /> (S E A L) <br /> BY"/�7 Signatu <br /> Attest: <br /> NAME:`ylp <br /> /GN-4EG /40.06&A180.e6 <br /> fie S/P EAIT <br /> DATE: /or, /©, oW/5 <br /> BY <br /> Il <br /> Signature <br /> NAME: keA TOal L- 1S,)24,04 tiEjL <br /> TITLE: S :CAETM P!' <br /> DATE: /a7./D, cp-D/5" <br /> Appendix 3 <br /> Page 2 of 2 <br />