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<br />Merchants Bonding Company
<br />(MLI'CUAL)
<br />POWER OF ATTORNEY
<br />Know All Men By These PresenLS, that the MERCHANTS BONDING COMPANY (MUTUAL), a wrporation duly organizetl untler the laws
<br />of the State of Iowa, antl having its principal office in the Cary of Des Moines, County of Polk, Stale of Iowa, hath made, constituted and
<br />appointed, and tloes by these presents make, constitute and appoint
<br />Thomas W. Gilmor, Leah K. Powers or Kathleen A. Hughes
<br />of Grand Junction and state of Colorado its true and lawful Atlorney-in-Fact, with full power
<br />antl authority hereby conferred in its name, place and stead, to sign, execute, acknowletlge and deliver in its behalf as surety any and all
<br />bonds, undertakings, recognizances or other written obligations in the nature thereol, sublect to the limitation that any such instrument shall
<br />not exceed the amount ol:
<br />ONE iQLLION (`x1,000,000.00) Dollars
<br />and to bind the MERCHANTS BONDING COMPANY (MUTUAL) thereby as fully and to the same extent as if such bontl or undenaking was
<br />signed by the tluly authorized officers of the MERCHANTS BONDING COMPANY (MUTUAL), and all such aas of said Anomey-in-Fact,
<br />pursuant to the authorry herein given, are hereby ralilietl antl confirmed.
<br />This Power-of-AHOrney is made and executed pursuant to and by aumonry of the following Amentled Substituted antl Restated By-Laws
<br />adopted by the Board of Directors of the MERCHANTS BONDING COMPANY (MUTUAL) on October 3, 1992.
<br />ARTICLE II, SECTION 8. -The Chairman of the Board or President or any Vice President or Secretary shall have power antl author-
<br />ity to appoint Attorneys-in-Fact, acrd to authorize them to ezewle on behalf of the Company, antl attach the Seal of the Company
<br />thereto, bonds and untlerlakings, recognizances. contracts of iMemniry and other writings obligatory in the nature thereat.
<br />ARTICLE II, SECTION 9. -The signature of any authonzed officer and the Seal of the Company may be affixetl by facsimile to any
<br />Power of Atlorney or Cenification thereol authorizing the execNion and delivery of any band, undertaking, recognizance. or other
<br />suretyship obligations of the Company, antl such signature and seal when so usetl shall have the same force and effect as though
<br />manually fixed.
<br />In Witness Whereof, MERCHANTS BONDING COMPANY (MUTUAL) has caused these presents to be signed by its Vice-President antl
<br />its corporate seal to he hereto afized, this 29th day of December ,19 95
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<br />MERCHANTS BONDING COMPANY (MUTUAL)
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<br />On Ihis 29th day of December ,ts 95 ,before me appeared Larry Taylor, to me
<br />personally known, who being by me tluly sworn tlid say that he is Yce-president of the MERCHANTS BONDING COMPANY (MUTUAL),
<br />the corporation tlescdbed in the foregoing inslmmenl, and that the Seal affixed to the said instrument is the Corporate Seal of the said
<br />Corporation and that the saitl instrument was signed and sealed in befall of saitl Corporation by authority of its Board of Directors.
<br />In Testimony Whereof, I have hereunto set my hand and affixed my Official Seal at the Cary of Des Moines, Iowa, the tlay and year first
<br />above wnden.
<br />STATE OF IOWA
<br />COUNTY OF POLK ss
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<br />IOWA
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<br />Notary Public, Palk County Iowa
<br />My Commission
<br />Expires 2-19-98
<br />I, William Warner, Jr., Secretary of the MERCHANTS BONDING COMPANY (MUTUAL), do hereby Ceniry that the above antl 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 farce and effect.
<br />In W~nfs~s Whereof, I have hereunto set my hand and affixed the Seal ot'tha Comoany.on
<br />this [1 dayol ,J(][~]E te.96 ~ + '-•/•
<br />This Power-of-AHOmey expnes 12-31'97 _ i~..~2 ^~_ T
<br />rust aeu ~ ~ - 1933
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