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<br />amount and cover certain revenues, real property, water rights and/or accounts of the <br />BORROWER. The LOAN CONTRACT and Security Instruments grant additional rights to the <br />CWCB including the right to accelerate the maturity of this Note in certain events. <br /> <br />9. If any annual payment is not paid when due or any default under the LOAN CONTRACT or the <br />Security Instruments securing this Note occurs, the CWCB may declare the entire <br />outstanding principal balance of the Note, all accrued interest, and any outstanding late <br />charges immediately due and payable, and the indebtedness shall bear interest at the rate <br />of 7% per annum from the date of default. The CWeB shall give the BORROWER written <br />notice of any alleged default and an opportunity to cure within thirty (30) days of receipt of <br />such notice before the BORROWER shall be considered in default for purposes of this <br />Promissory Note. <br /> <br />10. The BORROWER and any co-signer or guarantor hereby agree that if this Note or interest <br />thereon is not paid when due orif 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 <br />connection with such proceedings, including the fees of counsel for attendance at meetings <br />of creditors' committees or other committees. <br /> <br />11 . This Note shall be governed in all respects by the laws of the State of Colorado. <br /> <br />BORROWER: St. Vrain Sanitation District, acting <br />by and through its Water Activity Enterprise <br /> <br /> <br />BY~~ <br /> <br />Brad Hagen,' resident <br /> <br />(SEAL) <br /> <br />Attest: <br /> <br />By <br /> <br /> <br /> <br />Appendix B to Loan Contract C150036 Amendment No.2 <br />