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8. If any annual payment is not paid when due or any default under the LOAN CONTRACT or the <br /> 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 <br /> of any alleged default and an opportunity to cure within thirty (30) days of receipt of such <br /> notice before the BORROWER shall be considered in default for purposes of this Promissory <br /> Note. <br /> 9. The BORROWER and any co-signer or guarantor hereby agre a `i this Note or interest <br /> thereon is not paid when due or if suit is brought, then it shal ay all reasonable costs of <br /> collection, including reasonable attorney fees. In th event of ,,bankruptcy or similar <br /> proceedings, costs of collection shall include all costs d attorney fees incurred in connection <br /> with such proceedings, including the fees of counsel fo ttendance at meetings of creditors' <br /> committees or other committees. <br /> 10. This Note shall be governed in all respz is by t • laws of the State of Colorado. <br /> '4 '1 BORROWER: The Lake Henry Reservoir <br /> wo ` ,, Company, a Colorado nonprofit corporation <br /> ;�`W. LdEAC°) ei-e\ <br /> By 4,J //7 <br /> ,;; :,, <br /> ,,p —4�_ e r Robert L. Robler, President <br /> I <br /> By �'t . :�. L� u�,<& L <br /> Allen L. Ringle, Corporat6 Secretary <br /> VO;QeJ 1 01/46.eY.40...¢ <br /> a. T.12 7 a.o O S. <br /> 7 <br /> _______ <br /> c4 ../ Idi ...e.„._- <br /> c we a <br /> ` is _ r <br />