|
<br />Collateral of the Owner whose portion is in default (but not from any other Collateral) all
<br />reasonable costs and expenses of any such action to collect, suit or proceeding, or any
<br />appeal of any such suit or proceeding, incurred by the State, including reasonable fees of
<br />the State's attomeys. In the event of any bankruptcy or similar proceedings, costs of
<br />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'
<br />committees or other committees,
<br />
<br />7, Payments shall be made payable to the Colorado Water Conservation Board and .mailed to
<br />1313 Sherman Street, Room 721, Denver, Colorado 80203,
<br />
<br />8. If the State does not receive the annual payment within 15 calendar days of the due date,
<br />the State may impose a late charge in the amount of 5% of the annual payment, or of the
<br />portion thereof that is not received.
<br />
<br />9. This Note may be prepaid in whole or in part at any time without premium or penalty, Any
<br />partial prepayment shall not postpone the due date of any subsequent payments or change
<br />the amount of such payments,
<br />
<br />10, All payments received shall be applied first to late charges, if any, next to accrued interest
<br />and then to reduce the principal amount.
<br />
<br />11, The BORROWER waives presentment, notice of dishonor, notice of acceleration and protest,
<br />and assents to any extension of time with respect to any payment due under this Note, and
<br />to the release of any party.
<br />
<br />12. If any provision in this Note shall be held invalia, illegal or unenforceable in any jurisdiction,
<br />the validity, legality or enforceability of any defective provisions shall not be in any way
<br />affected or impaired in any other jurisdiction, .
<br />
<br />13, No delay or failure of the holder of this Note in the exercise of any right or remedy provided
<br />for hereunder shall be deemed a waiver of such right by the holder hereof, and no exercise
<br />of any right or remedy shall be deemed a waiver of any other right or remedy that the holder
<br />may have.
<br />
<br />14. All notices to the Borrower given hereunder shall be in writing, shall be given either by hand
<br />delivery or by certified mail, retum receipt requested, and, if mailed, shall be deemed
<br />received five days after having been deposited in the United States mail, postage prepaid,
<br />addressed as follows:
<br />
<br />Eagle Park Reservoir Company
<br />Attn: Legal Department Compliance Officer
<br />P.O. Box 7
<br />Vail, Colorado 81658
<br />
<br />15. This Note is to be govemed by and construed according to the laws of the State of
<br />Colorado,
<br />
<br />(SEAL)
<br />
<br />Borrower: Eagle Park Reservoir Company,
<br />a Colorado nonprofit ditch and reservoir
<br />
<br />co~
<br />By , 'kd.?--
<br />Richard D. MacCutcheon, Vice-President
<br />
<br />ATIESl:(: [ , )
<br /><~r ,I,- / '/
<br />I v I. < !
<br />By ~/' /,. /l,d~(hn.{ ,
<br />1;al}lra N. UndervJood, Corporate Secretary
<br />
|