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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 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: Supply Irrigating Ditch <br /> Company <br /> (SEAL) <br /> By 7-C-7c,.c.. —C <br /> Signa <br /> Attest: <br /> Name ) 6L._ 17-5�� <br /> By icS°, <br /> Signature Title 7"tZ-�"�_ �e✓rJT- <br /> Name 01(1y1 gv�J ( V1G✓\ Date 319 .lII <br /> Title C�c31 Gkr1 /TrQauec <br /> f <br /> Date 3 .l61 . 1 <br /> Appendix A <br /> Page z of z <br />