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<br />Mechants Bonding ComIeny
<br />(MUTUAL)
<br />POWER OF ATTORNEY
<br />
<br />Know All Men By These Presents, that the MERCHANTS BONDING COMPANY (MUTUAL), a corporation duly organized under the laws
<br />of the State of Iowa. and having ils principal office in the City of Des Moines, County of Polk, State 01 Iowa. hath made, constituted and
<br />appointed, and does by these pllllS8nts make, constitute and appoint
<br />
<br />Ray watsoo and/or Don E.' Smith
<br />
<br />of Richardson and State of Texas Its true and lawful Attorney-in-Fact, with full power
<br />and authority hereby conferred in ils name, place and stead, to sign, execute, acknowledge and deliver in ils behalf as surety any and all
<br />bonds. undertakings. recognizances or other written obligations in the nature thereol, subject to the limitation thet any such Instrument shall
<br />not exceed the amount 01:
<br />
<br />SEYm HUNOOED AND FIFl'Y TIDJSAND ($750,000.00) OOLLARS
<br />
<br />and to bind the MERCHANTS BONDING COMPANY (MUTUAL) thereby as fully and to the same extent as if such bond or undertaking was
<br />signed by the duly authorized ofllcers of the MERCHANrS BONDING COMPANY (MUTUAL). and all such acts 01 said Attorney-in-Fact,
<br />pursuant to the authority herein given, are hereby ratified and confirmed.
<br />
<br />This Power-ol-Attorney is made and executed pursuant to and by authority of the lollowing Amended SubstiMed and Restated By-Laws
<br />adopted by the Board of Directors of the MERCHANTS BONDING COMPANY (MUTUAL) on October 3,1992.
<br />
<br />ARTICLE II, SECTION, 8. - The Chairman of the Board or President or any Vice President or Secretary shall have power and author-
<br />ity to appoint Attorneys-in-Fact. and to authorize them to execute on behalf 01 the Company. and attach the Seal of the Company
<br />thereto. bonds and undertakings, recognizances, contracts 01 indemnity and other writings obligatory In the nature thereof.
<br />
<br />ARTICLE II. SECTION 9. - The signature of any authorized olficer and the Seal ollhe Company may be affixed by facsimile to any
<br />Power 01 Attorney or Certification thereol authorizing the execution and delivery 01 any bond, undertaking, recognizance, or other
<br />suratyship obligations of the Company, and such signature and seal when so used shall have the same lorca and effect as though
<br />manually fbced.
<br />
<br />In Witness Whereof, MERCHANTS BONDING COMPANY (MUTUAL) has caused these presents to be signed by ils Vice-President and
<br />its corporate seal to be heret~ affixed, this lst day of January 1998 A.D.,
<br />
<br />... ;~G. Co ... MERCHANTS BONDING COMPANY (MUTUAL)
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<br />STATE OF IOWA
<br />COUNTY OF POLK ss.
<br />
<br />On this 1st day of Januarv 1998 , belore me appeared Larry Taylor, to me
<br />personally known. who being by me duly sworn did say thet he is ~ce-Presidenl of the MERCHANTS BONDING COMPANY (MUTUAL).
<br />the corporation described in the loregoing Instrument. and that the Seal alllxed to the said instrument is the Corporate Seal 01 the said
<br />Corporation and that the said Instrument was signed and sealed in behalf 01 said Corporation by authority of ils Board 01 Directors.
<br />
<br />In Testimony Whereol. I have hereunto set my hand and affIXed my Official Seal at the City of Des Moines. Iowa, the day and year first
<br />above written.
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<br />Notary Public, Polk County. Iowa
<br />
<br />My Commission
<br />Expires 2.19-01
<br />
<br />STATE OF IOWA
<br />COUNTY OF POLK as.
<br />
<br />I, Winiam Warner, Jr., Secretary 01 the MERCHANTS BONDING COMPANY (MUTUAL), do hereby certify that the above and foregoing
<br />is a true and correct copy of the POWER-OF-ATTORNEY, executed by said MERCHANTS BONDING COMPANY (MUTUAL), which is still
<br />In lorca and effect.
<br />In Witness Whereof, I have hereunto set my hand and affixed the Seal 01 the Company on ~
<br />this 22nddayof February, 19,99 ........ h/ .././ ._ d
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