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7. This Note is issued pursuant to the LOAN CONTRACT between the CWCB and the BORROWER. <br /> The LOAN CONTRACT creates security interests in favor of the CWCB to secure the prompt <br /> payment of all amounts that may become due hereunder. Said security interests are evidenced <br /> by a Security Agreement ("Security Instruments") of even date and amount and cover certain <br /> revenues, real property, water rights and/or accounts of the BORROWER. The LOAN CONTRACT <br /> and Security Instruments grant additional rights to the CWCB, including the right to accelerate <br /> the maturity of this 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 <br /> an opportunity to cure within thirty (30) days of receipt of such notice before the BORROWER <br /> shall 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 <br /> is 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 /> ic:. This Note shall be governed in all respects by the laws of the State of Colorado. <br /> BORROWER:Consolidated Home Supply Ditch <br /> and Reservoir Company <br /> (SEAQ <br /> Signature <br /> Attest: <br /> Name 7�.rr tib G.' <br /> By. < <br /> Signature Title //2�S/��•-ice <br /> Name / &zZ Date <br /> Title- <br /> Date /{ <br /> Appendix A-l <br /> Page 2 of 2 <br />