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<br />. ' <br /> <br />( .~. J <br /> <br />addition or release of any party. <br />other right under this Note shall <br />other payment or right. <br /> <br />No waiver of any payment or <br />operate as a waiver of any <br /> <br />If any provision in this Note shall be held invalid, <br />illegal or unenforceable in any jurisdiction, 'the validity, <br />legality or enforceability of any defective provisions shall <br />not be in any way affected or impaired in any other <br />jurisdiction. <br /> <br />No delay or failure of the holder of this Note in the <br />exercise of any right or remedy provided for hereunder shall <br />be deemed a waiver of such right by the holder hereof, and no <br />exercise of any right or remedy shall be deemed a waiver of <br />any other right or remedy that the holder may have. <br /> <br />All notices to the Company given hereunder shall be <br />in writing, shall be given either by hand delivery or by <br />certified mail, return receipt requested, and, if mailed, <br />shall be deemed received five days after having been deposited <br />in the United states mail, postage prepaid, addressed as <br />follows: <br /> <br />Clinton Ditch & Reservoir Company <br />P.O. Box 68 <br />Breckenridge, CO 80424 <br />Attention: Secretary <br /> <br />This Note is to be governed by and construed <br />according to the laws of the state of Colorado. <br /> <br />Executed as of the date set forth above. <br /> <br />CLINTON DITCH & RESERVOIR COMPANY, <br />a Colorado nonprofit ditch and <br />reservoir company <br /> <br />By: <br /> <br />(Title) <br /> <br />ATTEST: <br /> <br />Secretary <br /> <br />(SEAL) <br /> <br />B-3 <br />