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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 CONT PACT or the <br /> Security Instruments securing this Note occurs, the CIAICB 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 7016 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 BORROW-ER <br /> shall 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 <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 /> io. This Note shall be governed in all respects by the laws of the State of Colorado. <br /> BORROWER:Rough and Ready Irrigating Ditch <br /> S E A <br /> mpany <br /> AL) "C/—B <br /> Signature <br /> Attest: J <br /> 10� <br /> � � Name <br /> Y B <br /> igna ry—�) Title <br /> Name ln��,'�� o.✓l Q v� Date--) <br /> TitleCr <br /> Date <br /> Appendix A <br /> Page z Of 2 <br />