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If any annuai payment is not paid when due or any default under the LoaN CoNrRaCT or the <br />Security Agreement securing this Note occurs, the CWCB may declare the entire outstanding <br />principa4 ba4ance of the Note, all accrued interest, and any outstanding late charges <br />immediately due and payable, and the indebtedness shall bear interest at the rate of 7% per <br />annum from the date of default. The CWCB shall give the BoRROwER written notice of any <br />alleged default and an opportunity to cure within thirly (30) days of receipt of such notice <br />before the BoRROwER shall be considered in default for purposes of this Promissory Note. <br />9. The BoRROwER and any co-signer car guarantor hereby agree that if this Note or interest <br />thereon is not paid when due or if suit is brought, then it shall pay ail reasonable costs of <br />collection, including reasonable attomey fees. In the event of any bankruptcy or similar <br />proceedings, costs of collection shall include all costs and attorney fees incurred in connection <br />with such proceedings, including' the fees of counsel for attendance at meetings of creditors' <br />committees or other committees. <br />10. This Note shall be governed in all respects by the laws of the State of Colorado. <br />(SEAL) <br />At1 <br />� <br />BoRROwER: Silt Water Conservancy District, <br />acting by and through the Silt Water <br />Conservancy District Water Activity <br />Enterprise <br />By v'- • � <br />Norman Hunt, President <br />Page 2 of 2 <br />