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MERCHANTS
<br />BONDING COMPANY.
<br />POWER OF ATTORNEY
<br />Know All Persons By These Presents, that MERCHANTS BONDING COMPANY (MUTUAL) and MERCHANTS NATIONAL BONDING,
<br />INC., both being corporations of the State of Iowa (herein collectively called the "Companies") do hereby make, constitute and appoint,
<br />individually,
<br />Dawn M Pequignot; Elaine K Miller; Harold E Everett; J Kevin Hughes; Jada M Karst;
<br />Marie E Comparet; Melody S Hoerl; Thomas J VanDyck; Tom McGovern
<br />their true and lawful Attomey(s)-in-Fad, to make, execute, seal and deliver on behalf of the Companies, as Surety, bonds, undertakings
<br />and other written obligations in the nature thereof, subject to the limitation that any such instrument shall not exceed the amount of:
<br />FORTY MILLION ($40,000,000.00) DOLLARS
<br />This Power -of -Attorney is granted and is signed and sealed by facsimile under and by authority of the following By -Laws adopted by the
<br />Board of Directors of Merchants Bonding Company (Mutual) on April 23, 2011 and adopted by the Board of Directors of Merchants
<br />National Bonding, Inc., on October 24, 2011.
<br />"The President, Secretary, Treasurer, or any Assistant Treasurer or any Assistant Secretary or any Vice President shall have power and
<br />authority to appoint Attorneys -in -Fact, and to authorize them to execute on behalf of the Company, and attach the seal of the Company
<br />thereto, bonds and undertakings, recognizances, contracts of indemnity and other writings obligatory in the nature thereof."
<br />'The signature of any authorized officer and the seal of the Company may be affixed by facsimile or electronic transmission to any Power of
<br />Attorney or Certification thereof authorizing the execution and delivery of any bond, undertaking, recognizance, or other suretyship
<br />obligations of the Company, and such signature and seal when so used shall have the same force and effect as though manually fixed:'
<br />In connection with obligations in favor of the Florida Department of Transportation only, it is agreed that the power and authority hereby given
<br />to the Attomey-in-Fact includes any and all consents for the release of retained percentages and/or final estimates on engineering and
<br />construction contracts required by the State of Florida Department of Transportation. It is fully understood that consenting to the State of Florida
<br />Department of Transportation making payment of the final estimate to the Contractor and/or its assignee, shall not relieve this surety company
<br />of any of its obligations under its bond.
<br />In connection with obligations in favor of the Kentucky Department of Highways only, it is agreed that the power and authority hereby given
<br />to the Attorney -in -Fact cannot be modified or revoked unless prior written personal notice of such intent has been given to the Commissioner -
<br />Department of Highways of the Commonwealth of Kentucky at least thirty (30) days prior to the modification or revocation.
<br />In Witness Whereof, the Companies have caused this instrument to be signed and sealed this 22nd day of April 2016
<br />.•'^'-(tOtf.( 'i,. ... CD • MERCHANTS BONDING COMPANY (MUTUAL)
<br />�,•` ............ ©': ' 0�� PO �'o'• MERCHANTS NATIONAL BONDING, INC.
<br />Jr
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<br />STATE OF IOWA n.*.,.wM•",
<br />COUNTY OF Dallas ss. President
<br />On this 22nd day of April 2016 before me appeared Larry Taylor, to me personally known, who being by me sworn did say that
<br />he is President of the MERCHANTS BONDING COMPANY (MUTUAL) and MERCHANTS NATIONAL BONDING, INC.; and that the seals affixed
<br />to the foregoing instrument are the Corporate seals of the Companies; and that the said instrument was signed and sealed in behalf of the
<br />Companies by authority of their respective Boards of Directors.
<br />¢a�r,< WENDY WOODY
<br />o ! June 20 Commission Number 784654
<br />. My Commission Expires
<br />ays 2017
<br />Notary Publi , County, Iowa
<br />(Expiration of notary's commission
<br />does not invalidate this instrument)
<br />I, William Warner, Jr., Secretary of the MERCHANTS BONDING COMPANY (MUTUAL) and MERCHANTS NATIONAL BGNUING, INC.,
<br />do hereby certify that the above and foregoing is a true and correct copy of the POWER -OF -ATTORNEY executed by said Companies,
<br />which is still in full force and effect and has not been amended or revoked.
<br />In Witness Whereof, I have hereunto set my hand and affixed the seal of the Companies on this 8th day of November , 2016 .
<br />,...........
<br />,% O : • h V ..c
<br />1933 e;
<br />J. •Y
<br />ip
<br />Secretary
<br />POA 0014 (6115)
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