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<br />8. If any annual payment is not paid when due or any default under the LOAN CONTRACT or the Security <br />Agreement or Deed of Trust 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 immediately due <br />and payable, and the indebtedness shall bear interest at the rate of 7% per annum from the date of <br />default. The CWCB shall give the BORROWER written notice of any alleged default and an opportunity <br />to cure within thirty (30) days of receipt of such notice before the BORROWER shall be considered in <br />defau/l 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 thereon is not <br />paid when due or if suit is brought, then it shall pay all reasonable costs of collection, including <br />reasonable attorney fees. In the event of any bankruptcy or similar proceedings, costs of collection <br />shall include all costs and attorney fees incurred in connection with such proceedings, including the <br />fees of counsel for attendance at meetings of creditors' committees or other committees. <br /> <br />10. This Note shall be governed in all respects by the laws of the State of Colorado. <br /> <br />BORROWE : The Riverside Ditch and Allen Extension <br />Campa , Colorado nonprofit corporation <br />, <br /> <br />(SEAL) <br /> <br /> <br />Attest: <br /> <br />By xiUJ CHi cI yltjJI;} A <br />Susan L. Miller, Corporate Secretary <br />