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Security Agreement or Deed of Trust securing this Note occurs, the CWCB may declare the <br /> entire outstanding principal balance of the Note, all accrued interest, and any outstanding late <br /> charges immediately due and payable, and the indebtedness shall bear interest at the rate of <br /> 7% per annum from the date of default. The CWCB shall give the BORROWER written notice of <br /> any alleged default and an opportunity to cure within thirty (30) days of receipt of such notice <br /> before the BORROWER 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 <br /> thereon is not paid when due or if suit is brought, then it shall pay all reasonable costs of <br /> collection, including reasonable attorney fees. In the event of any bankruptcy or similar <br /> proceedings, costs of collection shall include all costs and attorney fees incurred in connection <br /> with such proceedings, including the fees of counsel for attendance at meetings of creditors' <br /> committees or other committees. <br /> 10. This Note shall be governed in all respects by the laws of the State of Colorado. <br /> BORROWER: Kern Reservoir and Ditch <br /> Company, a Colorado nonprofit corporation <br /> ( SEAL ) " / Me/ 6 <br /> By %l/ /l// <br /> W. Wade Miller, President <br /> Attest: <br /> B G�`'U\til • �/�� <br /> Julie Chester, Corporate Secretary it4ti$S.) <br />