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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, INC.,
<br />both being corporations of the State of Iowa (herein collectively called the "Companies") do hereby make, constitute and appoint, individually,
<br />Eric Lowey; Jennifer Grenrood; Karyl A Richter; Kevin Cathcart; Mark Richardson; Shawn Blume; Teresa I Jackson; Vanessa Copeland
<br />their true and lawful Attorney(s)-in-Fact, to sign its name as surety(les) and to execute, seal and acknowledge any and all bonds, undertakings,
<br />contracts and other written instruments in the nature thereof, on behalf of the Companies in their business of guaranteeing the fidelity
<br />of persons, guaranteeing the performance of contracts and executing or guaranteeing bonds and undertakings required or permitted in any
<br />actions or proceedings allowed by law.
<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 Board
<br />of Directors of Merchants Bonding Company (Mutual) on April 23, 2011 and amended August 14; 2015 and adopted by the Board of Directors
<br />of Merchants National Bonding, Inc., on October 16, 2015.
<br />"The President, Secretary, Treasurer, or any Assistant Treasurer or any Assistant Secretary or any Vice President shall have power and authority
<br />to appoint Attorneys -in -Fact, and to authorize them to execute on behalf of the Company, and attach the seal of the Company thereto, bonds and
<br />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 Attorney
<br />or Certification thereof authorizing the execution and delivery of any bond, undertaking, recognizance, or other suretyship obligations of the
<br />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 aut honty hereby given to the
<br />Attorney -in -Fact includes any and all consents for the release of retained percentages and/or final estimates on engineering and construction
<br />contracts required by the State of Florida Department of Transportation. It is fully understood that consenting to the State of Florida Department
<br />of Transportation making payment of the final estimate to the Contractor and/or its assignee, shall not relieve this surety company of any of
<br />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 17th day of April 2017
<br />4. o�P y?Rq�ro•• �P 9q p9'�,�r MERCHANTMERCHANTS BONDING
<br />NAIONAL BONDING(MUTUAL)
<br />NC
<br />a u '•a:
<br />•x:
<br />v`.• 2003 ; ii 1933 r c: By 2�
<br />............ llp .°d�•....•• i1 . President
<br />STATE OF IOWA•°°•'�'°•°•° °
<br />COUNTY OF DALLAS ss.
<br />On this this 17th day of April 2017 before me appeared Larry Taylor, to me personally known, who being by me duly sworn
<br />did say that he is President of MERCHANTS BONDING COMPANY (MUTUAL) and MERCHANTS NATIONAL BONDING, INC,; and that the
<br />seals affixed to the foregoing instrument are the Corporate Seals of the Companies; and that the said instrument was signed and sealed in behalf
<br />of the Companies by authority of their respective Boards of Directors.
<br />tiPRIA<d' ALICIA K. GRAM
<br />o v Commission Number 767430
<br />Z ° ° ° ` . My Commission Expires
<br />aura April 1, 2020
<br />Notary Public
<br />(Expiration of notary's commission
<br />does not invalidate this instrument)
<br />I, William Warner, Jr., Secretary of MERCHANTS BONDING COMPANY (MUTUAL) and MERCHANTS NATIONAL BONDING, INC., do hereby
<br />certify that the above and foregoing is a true and correct copy of the POWER-OF-ATTORNEY executed by said Companies, which is still in full
<br />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 13th day of February , 2018
<br />Pf10Nq�'., .�p\NGot
<br />.Cpp� o
<br />:Z Z' �'s'• 1933 ; C. Secretary
<br />2003 ,:�a); 9'. • ter.
<br />POA 0018 (3/17)
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