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<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 thirty (30) days of receipt of such notice <br />before the BORROWER shall be considered in default 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 <br />thereon is not paid when due or if suit is brought, then it shall pay all 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 <br />connection with such proceedings, including the fees of counsel for attendance at meetings <br />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 />G.M.S. Land and Cattle Company, a Colorado <br />limited liability company <br /> <br /> <br />By <br /> <br />~~ <br />James T. Martin, Manager <br /> <br />By <br /> <br />5?~~ <br />, J. Gertsch, Manager <br /> <br />County of ~ tl/)/u/;; <br /> <br />) <br />) SS <br />State of /A~"'Yl.b7lJ-- ) <br /> <br />The foregoing instrument was acknowledged before me thi~ day of /1tu t.LJ 2003 <br />by Larry E. Seitz. James T. Martin and M,J. Gertsch, managers of the G.wt.S, Land and Cattle <br />Company. Witness my hand and official seal. Ii ; d III . ,,1 <br /> <br />~~// Notary Public <br /> <br />My commission expires / /) hI) /~t)'tl ~ <br />, ,. <br /> <br />DIANe L GUDAHL - NOl'ARY puBLIC <br />COUNTY OF. STATE OF <br />LARAMIE WYOMING <br />MY COMMlSSlON EXPIRES OCT. 10, 2006 <br /> <br />Page 2 of 2 <br />