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and accountsof the BORROWER. The LOAN CONTRACT and SECURITY INSTRUMENTS grant additional <br /> rights to the CWCB, including the right to accelerate the maturity of this PROMISSORY NOTE in <br /> 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 /> io. This PROMISSORY NOTE shall be governed in all respects by the laws of the State of Colorado. <br /> BORROWER:LARIMER AND WELD IRRIGATION <br /> COMPANY,A COLORADO NONPROFIT <br /> CORPORATION <br /> (SEAL) _ <br /> BY:l�' q, 1 <br /> . re <br /> Attest: <br /> NAME: LCL, i�ct SPJI{�2Q�/ <br /> TITLE: przest it 0 <br /> DATE: 1t10/1�o <br /> BY:Alr <br /> ':•ature <br /> NAME: <br /> S (6(4- <br /> TITLE: <br /> eJLTITLE: Liz P C�v�L <br /> DATE: LI 110 18.0 <br /> Appendix 3 <br /> • <br /> Page 2 of 2 <br />