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8. If any annual payment is not paid when due or any default under the Loan Contract or the Security <br /> Instruments securing this Note occurs, the CWCB may declare the entire outstanding principal <br /> balance of the Note, all accrued interest, and any outstanding late charges immediately due and <br /> payable, and the indebtedness shall bear interest at the rate of 7% per annum from the date of <br /> default. The CWCB shall give the Borrower written notice of any alleged default and an <br /> opportunity to cure within sixty(60)days of receipt of such notice before the Borrower shall be <br /> 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 is not <br /> paid when due or if suit is brought, then it shall pay all reasonable costs of collection, including <br /> reasonable attorney fees. In the event of any bankruptcy or similar proceedings,costs of collection <br /> shall include all costs and attorney fees incurred in connection with such proceedings, including the <br /> fees of counsel for attendance at meetings of creditors'committees or other committees. <br /> 10. This Note shall be governed in all respects by the laws of the State of Colorado. <br /> North Poudre Irrigation Company <br /> (SEAL) <br /> Attest: By <br /> Signature <br /> ByCc.P_Q. 2 <br /> Si re Name <br /> Name e,ali (-2un -er <br /> Title <br /> Title t Cki e S.Q,C,re,i-(,S\J <br /> Date I 1/6o//e <br /> Date ``I(Q I <br /> Appendix A <br /> Page 2 of 2 <br /> Contract Number CT2015-024 <br /> CMS 121519 <br />