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This PROMISSORY NOTE shall be governed in all respects by the laws of the State of Colorado. <br /> BORROWER: Northern Water Hydropower <br /> Water Activity Enterprise, a government- <br /> owned business within the meaning of <br /> Article X, section 20(2)(d) of the Colorado <br /> Constitution, organized pursuant to C.R.S. § <br /> 37-45.1-101 et seq., and owned by the <br /> Northern Colorado Water Conservancy <br /> District <br /> (S E A L) <br /> Ey-74.4, j <br /> g atur:' <br /> Attest: <br /> NAME: Ake /4 ,IOL i <br /> TITLE: PROS/610-,4 <br /> By p .. I DATE: /Z//9'/Z-1)/4'- <br /> Signaturet _ <br /> NAME: 02!C (4. . 1A-T11-1G/1- Cit) <br /> TITLE: n 1 .i Vt <br /> DATE: C(..y 4 4Le. 19 2,0)9 <br /> Appendix 2 <br /> Page 3 of 3 <br />