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<br />Merchants Bonding Company
<br />(Mutual)
<br />
<br />POWER OF ATTORNEY Bond#:
<br />
<br />NDC40l91
<br />
<br />Know All Persons By These Presents. that the MERCHANTS BONDING COMPANY (MUTUAL), 0 corporslion duly orllllnized undor
<br />the laws of the State of Iowa, and having Ita principal office In the City of Des Moines, County of Polk. State of Iowa. hath made.
<br />constituted and appointed, and does by these presents make, constitute and appoint
<br />
<br />JAMES M. PADDEN
<br />
<br />of FARGO and State of ND It8 tru_and lawful Attorney-In-Fact. with full power
<br />and authorit1 hereby conferred In fts name, plac. and stead, to sign. exeeut., acknov.iedge and deliver In its behalf as surety any
<br />and aU bonds, undertakings, recognizances or other written obligations In the nature thereof. subject: to the limitation that any such
<br />instrument shall not eX08ed the amount of:
<br />
<br />FOUR MILLION ($4,000,000.00) DOLLARS
<br />
<br />ond to bind the MERCHANTS BONDING COMPANY (MUTUAL) thereby 00 fully ond to the ..me extent o. ifsuch bond or
<br />undertaking WlS aJgned by the duly authorized officers of the MERCHANTS BONDING COMPANY (MUTUAL). and all the acts of
<br />said Attorney-in-Fact, pursuant to the authority heNln .given, are hereby ratifbld and conftr1'1'Kld.
<br />
<br />This Powero()f-Attomey Is made and executed pursuant to and by authority of the following Amended SUbstituted and Restated By_
<br />Lows sdopllld by the Boord of Directors ofthe MERCHANTS BONDING COMPANY (MUTUAL) on November 18.2002,
<br />ARTICLE II, SECTION 8 - The Chairman of the Board or President or any Vice President or Secretary shall have power and
<br />authority to appoInt Attorneys-in-Fact, and to authorize thom to execute on behalf of Ihe Company, and attach the Soal of the
<br />Company thereto, bonds and undertakings, recognizances, contracts of indemnity and other writings obligatory in the nature
<br />thereof.
<br />ARTICLE II, SECTION 9 - The signature of any euthoriZed officer and the 8eal of the Company may be affixed by facsimile
<br />to any Power of Attomey or Certification thereof authorizing the execution and delivery of any bond, undertaking,
<br />recognizance. or olher suretyshIp obligations 0' the Company, and such signature and seal when 80 used shaD have the
<br />same force and effect as though manually 'heed,
<br />
<br />In WIne.. VVhereof. MERCHANTS BONDING COMPANY (MUTUAL) has caused these presents to be signed by its Prealdent and
<br />il5 corporlte ,,"I to be hereto olllxed, this 1st doyof Jonuary 2005.
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<br />MERCHANT8 BONDING COMPANY (MUTUAL)
<br />
<br />STATE OF IOWA
<br />COUNTY OF POLK sa.
<br />
<br />~ ~ 7a;L
<br />
<br />President
<br />
<br />On this 1st doyof January ,2005. before m..ppeored Lorry Tsylor, to
<br />mo pensonolly known. who being by me duly IWOm did soy Ihst he Is Prslldent of the MERCHANTS BONClNG COMPANY (MUlVALJ,
<br />the corporation described in the foregoing InslnJrrent, and that the Seal.rrlXed to the laid Instrument Is the Corporate Seal of the aald
<br />Corporation and that the said Instrumentwus signed Bnd sealed In behalf of laid Corporation by authority of Its Board of Directors.
<br />
<br />In TsstimonyWtereof, I have hereunto set my hand and affixed myomctal Sealattl1e CltyofOes Moines, Iowa. the day and year first
<br />above written.
<br />
<br />ii CINDY SMYTH
<br />. I f Commialon Number 173804
<br />My CommIssion ExPires
<br />March 16, 2008
<br />
<br />&'1~
<br />
<br />Notary Public, Polk County, Iowa
<br />
<br />STATE OF IOWA
<br />COU NTY OF POLK sa.
<br />
<br />this
<br />
<br />I, WiUilm WI","r, Jr., Secrsloly of the MERCHANTS BONClNG COMPANY (MUlUALJ. do horeby cert~ thot Iho obove ond foregoing
<br />Is 0 lr\Jo Ind correct copy of Ihe POWER.QF-ATTORNEY exocutsd by ..Id MERCHANTS BONDING COMPANY (MUTUAL},"';'1ch Is
<br />s.tilll" full force and effect and has not been amended or revoked.
<br />In vaness Whemo', I have hereudo set my hand Ind aJra::ec1 the seal dlhe Company on
<br />16th day of September 2005 .......
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<br />Secretary
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<br />POA 0005 (9/04)
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