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<br />8. If any annual payment is not paid when due or any default under the LOAN CONTRACT or the <br />Security Agreement 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 <br />immediately due and payable, and the indebtedness shall bear interest at the rate of 7% per <br />annum from the date of defauit. The CWCB shall give the BORROWER written notice of any <br />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 /> <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 /> <br /> <br />(SE <br /> <br />in all respects by the .Iaws of the State of Colorado. <br /> <br />BORROWER: East Dillon Water District, a <br />Colorado special district <br /> <br /> <br />By .~ tiii. . <br /> <br />ruc Farrell, President <br /> <br />, <br />, <br /> <br />" <br /> <br />Attest: <br /> <br />By <br /> <br />~)a~s. <br /> <br />Janice Geiss, Secretary <br />