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of the BORROWER. The LOAN CONTRACT and SECURITY INSTRUMENTS grant additional rights to the <br /> CWCB, 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 the <br /> SECURITY INSTRUMENTS securing this Note occurs, the CWCB may declare the entire outstanding <br /> principal balance of the Note, all accrued interest, and any outstanding late charges immediately <br /> due and payable, and the indebtedness shall bear interest at the rate of 7% per annum from the <br /> date of default. The CWCB shall give the BORROWER written notice of any alleged default and an <br /> opportunity to cure within thirty (3o) days of receipt of such notice before the BORROWER shall <br /> 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 thereon is <br /> not paid when due or if suit is brought, then it shall pay all reasonable costs of collection, <br /> including reasonable attorney fees. In the event of any bankruptcy or similar proceedings, costs <br /> of collection shall include all costs and attorney fees incurred in connection with such <br /> proceedings, including the fees of counsel for attendance at meetings of creditors' committees or <br /> other committees. <br /> 10. This PROMISSORY NOTE shall be governed in all respects by the laws of the State of Colorado. <br /> BORROWER: Dixon Canon Ditch and Reservoir <br /> Company,a Colorado nonprofit corporation <br /> (SEAL) <br /> BY:40 c� <br /> . :nature <br /> Attest: <br /> NAME: bo' (o ,&::c/4-6-) <br /> > <br /> TITLE: 7 1r' <br /> DATE: 0401614 2-0 t SD <br /> BY: le - <br /> 1' Sign=� <br /> NAME: Pa4.)A Lam+ 11U <br /> TITLE: V C.C. efe,..51iftmA_ <br /> DATE: Z,\P-Ne, 201 kO <br /> Appendix 3 <br /> Page 2 of 2 <br />