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by a Security Agreement and Deed of Trust ("Security Instruments") of even date and amount <br /> and cover certain water rights and/or accounts of the BORROWER. The LOAN CONTRACT and <br /> Security Instruments grant additional rights to the CWCB, including the right to accelerate the <br /> 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 <br /> and an opportunity to cure within sixty (60) days of receipt of such notice before the <br /> 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 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:Lookout Mountain Water <br /> District _ . <br /> (SEAL) <br /> B1 II rar <br /> /Signature <br /> Attest: <br /> Name /' <br /> Signature Title (/,1s1 <br /> Name C.1.1 <br /> Title_,J r I <br /> Date JL. / 2 20/ <br /> Appendix A <br /> Page 2 of 2 <br />