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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 CONMCT 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 /> q. 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:North Poudre Irrigation <br /> Company <br /> (SEAL) <br /> By. <br /> Signature/ <br /> Attest: <br /> Name k6kEAl ( Mjq X�q <br /> By J�4�� <br /> aigtiaLure Tide.Pe�.S 10 ICE IUT- <br /> Name f+RyN S�--�O iQT11 Date 5Z/04l 7 <br /> Title 0-0 P PO R R;TE C 2E]�&Q4 <br /> Date <br /> Appendix A-x <br /> Page 2 of 2 <br />