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accounts of 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 /> g. 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:Julesburg Irrigation District, <br /> organized and existing as an Irrigation <br /> District pursuant to C.R.S. §37-41-101 to <br /> (SEAL) §3T41- <br /> BY: c <br /> Signature <br /> Attest: � (CL_- NAME: -- ��r Cr\( <br /> s <br /> TITLE: 9– <br /> DATE: <br /> DATE: L — l <br /> Signature <br /> NAME: '�Vl� �� <br /> L/p S <br /> —_ <br /> TITLE: C,1 I j <br /> DATE: Lp <br /> Appendix 3 <br /> Page 2 of 2 <br />