Laserfiche WebLink
8. This NOTE is issued pursuant to the LOAN CONTRACT between the CWCB and the <br />BORROWER. The LOAN CONTRACT creates security interests in favor of the CWCB to <br />secure the prompt payment of all amounts that may become due hereunder. Said <br />security interests are evidenced by a SECURITY AGREEMENT, which can be found in <br />Paragraph A.14, Page 8 of the ORIGINAL CONTRACT and DEED OF TRUST ( "SECURITY <br />INSTRUMENTS ") of even date and amount and cover certain revenues, real property, <br />water rights and /or accounts of the BORROWER. The LOAN CONTRACT and SECURITY <br />INSTRUMENTS grant additional rights to the CWCB, including the right to accelerate the <br />maturity of this NOTE in certain events. <br />9. If any annual payment is not paid when due or any default under the LOAN CONTRACT <br />or the SECURITY INSTRUMENTS securing this NOTE occurs, the CWCB may declare the <br />entire outstanding principal balance of the NOTE, all accrued interest, and any <br />outstanding late charges immediately due and payable, and the indebtedness shall <br />bear interest at the rate of 7% per annum from the date of default. The CWCB shall <br />give the BORROWER written notice of any alleged default and an opportunity to cure <br />within thirty (30) days of receipt of such notice before the BORROWER shall be <br />considered in default for purposes of this NOTE. <br />10. The BORROWER and any co- signer or guarantor hereby agree that if this NOTE or <br />interest thereon is not paid when due or if suit is brought, then it shall pay all <br />reasonable costs of collection, including reasonable attorney fees. In the event of any <br />bankruptcy or similar proceedings, costs of collection shall include all costs and <br />attorney fees incurred in connection with such proceedings, including the fees of <br />counsel for attendance at meetings of creditors' committees or other committees. <br />11. This NOTE shall be governed in all respects by the laws of the State of Colorado. <br />BORROWER: <br />(S E A L) Sanchez Ditch and Reservoir Company <br />Signature/Title <br />Attest: <br />By •�� �.�.. Date &-1,3-1-? <br />Signature It e <br />Date $ -13-13 <br />Appendix B to Amendment No. 1 <br />Loan Contract C153623 <br />Page 2 of 2 <br />