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15.08.2019 15r23 17145eee996 #0217 P 8/19 FARMERS INSURANCE Important Notice Subscription Agreement Notice (Please keep foryour records) Bypoyment of the policypremium, you acknowledge Char you have received and read the buck Insurance Exchange Subscription Agreement (the terms ofwhich orerprovlded below) and that you agree to be bound to all of the rermsond conditions of the Subscription Agreement. Under the Subscription Agreement, you appoint Truck Underwriters Association (the "Association") to act as the attorney -In -fact. The Association has acted in this capacity since 1935, The Subscrfptfon Agreementprovides for paymant of compensation to the Association for Its becoming and acting as attorney -in -fact. This compemotlon consists of o membership fee and a percentage of premiums on all policies of insurance or reinsurance issued or effected by the Exchange. These feesore included In yourpolicypayment and are not on additional fee. We reserve the right to requestthat you provide us with n slgned5ubscriptionAgreement and if you fall to do so, your coverage maybe terminated. Subscription Agreement For and inconsideration of the benefits to be derived therefrom the subscriber covenants and agrees with Truck Insurance Exchange and other subscribers thereto through their and each of their attorney -in -fact, Truck Underwriters Association, to exchange with all other subscribers' policies of insurance or reinsurance containing such terms and conditions therein as may be specified by said attorney -in -fact and approved by the Board of Governors or its Executive Committee for any loss insured against, and subscriber hereby designates, constitutes and appoints Truck Underwriters Association to be attorney -in -fact for subscriber, granting to it power to substitute another in its place, and In subscriber's name, place and stead to do all things which the subscriber or subscribers might or could do severally or Jointly with reference to all policies issued, including cancellation thereof, collection and receipt of all monies due the Exchange from whatever source and disbursement of all loss and expense payments, effect reinsurance and all other acts Incidental to the management of the Exchange and the business of interinsurance; subscriber further agrees that there shall be paid to said Association, as compensation for Its becoming and acting as attorney -In -fact, the membership fees and twenty per centum of the Premium Deposit for the insurance provided and twenty per centum of the premiums required for continuance thereof. The remaining portion of the Premium Deposit and of additional term payments made by or on behalf of the subscriber shall be applied to the payment of losses and expenses and to the establishment of reserves and general surplus. Such reserves and surplus maybe invested and reinvested by a Board of Governors duly elected by and from subscribers In accordance with provisions of policies issued, which Board or Its Executive Committee or an agent or agency appointed by written authority of said Executive Committee shall have full powers to negotiate purchases, sales, trades, exchanges, and transfers of investments, properties, titles and securities, together with full powers to execute all necessary instruments. The expenses above referred to shall include all taxes, license fees, attorneys' fees and adjustment expenses and charges, expenses of members' and governors' meetings, agents' commissions, and such other specified fees, dues and expenses as may be authorized by the Board of Governors, All other expenses incurred In connection with the conduct of the Exchange and such of the above expenses as shall from time to time be agreed upon by and between the Association and the Board of Governors or i is Executive Committee shall be borne by the Association. The principal office of the Exchange and its attorney -in -fact shall be maintained in the City of Los Angeles, Countyof Los Angeles, State of California. This agreement can be signed upon any number of counterparts with the same effect as if the signatures of all subscribers were upon one and the same Instrument, and shall be binding upon the parties thereto, severally and ratably as provided in policies issued. Wherever the word "subscriber" is used the same shall mean members of the Exchange, the subscriber hereto, and all other subscribers to this or any other like agreement. Any policy issued hereon shall be non -assessable. 25-3037CI 2-1e