Agenda 05/24/2011 Item #16E105/24/2011 Item 16.E.10.
EXECUTIVE SUMMARY
Recommendation to authorize the release of $27,105 in final payment and
retainage amounts for the project known as Underground Storage Fuel Tanks
Removal and Replacement, Bid No. 09 -5237, to the bond provider for Surge
Solutions Group, Inc.: Evergreen National Indemnity Company.
OBJECTIVE: To obtain Board of County Commissioners (Board) authorization for the release
of $27,105 in final payment and retainage amounts currently held by the County pursuant to Bid
No. 09 -5237 to the bond provider: Evergreen National Indemnity Company.
CONSIDERATIONS: On April 20, 2009, Collier County Purchasing posted a solicitation for bids
(Bid No. 09 -5237) to remove and replace five (5) existing, non - compliant, underground, fuel oil
tanks before the compliance deadline of December 31, 2009. Price submittals were received
from seven (7) firms with Surge Solutions Group, Inc. (SSG) being the lowest responsive and
responsible bidder meeting the specifications. The contract award to SSG was approved by the
BCC on 6/23/2009, Agenda Item 16E2, and they began work immediately when the contract
was signed and the Notice to Proceed was issued. In conformance with the contract
requirements, SSG completed the removals of the non - compliant tanks by the December 31,
2009 deadline. SSG continued the new installations and completed all work and the punch -list
items by March 2010. On May 31, 2010, SSG Pay Application #8 for final payment and
retainage was received by the County; however, SSG was having difficulty obtaining the
necessary Release and Affidavit Forms causing the payments to be withheld. Subsequently
SSG was forced to rely on their surety firm, Evergreen National Indemnity Company, to pay
some of their vendors and secure the required Release and Affidavit Forms.
The County now has the required Releases, the Consent of Surety, and a letter from the
surviving entity of SSG requesting that the final payment and retainage be released to their
surety company.
FISCAL IMPACT: The County currently holds $27,105 in final payment and retainage amounts
owed to Surge Solutions Group, Inc. that are traditionally paid to contractor upon final close out
and receipt of the Release and Affidavit Forms. All work in this matter has been completed and
the required Forms have now been received. However, the contractor is no longer in business
and the bonding company had to intervene and pay the subcontractors to aquire the required
Release and Affidavit Forms. Pursuant to agreements between Surge Solutions Group, Inc. and
their bonding entity, the bonding entity is entitled to the proceeds retained by Collier County.
There is no fiscal loss to the County.
GROWTH MANAGEMENT IMPACT: There is no impact on the Growth Management Plan.
LEGAL CONSIDERATIONS: The County Attorney's Office has reviewed this Executive
Summary and it is legally sufficient for Board action. This item requires a majority vote. — STW
RECOMMENDATION: That the Board of County Commissioners (Board) authorizes the release
of $27,105 in final payment and retainage amounts currently held by the County pursuant to Bid
No, 09 -5237, to the bond provider for Surge Solutions Group, Inc.: Evergreen National
Indemnity Company.
Prepared by: Hank Jones, Principal Project Manager, Facilities Management
Packet Page -1771-
COLLIER COUNTY
Board of County Commissioners
Item Number: 16.E.10.
5/24/2011 Item 16.E.10.
Item Summary: Recommendation to authorize the release of $27,105 in final payment
and retainage amounts for the project known as Underground Storage Fuel Tanks Removal and
Replacement, Bid No. 09 -5237, to the bond provider for Surge Solutions Group, Inc.: Evergreen
National Indemnity Company.
Meeting Date: 5/24/2011
Prepared By
C,
Name: JonesHank
Title: Project Manager, Principal,Facilities Management
5/6/2011 5:50:15 PM
Submitted by
Title: Project Manager, Principal,Facilities Management
Name: JonesHank
5/6/2011 5:50:16 PM
Approved By
Name: CampSkip
Title: Director - Facilities Management,Facilities Manage
Date: 5/9/2011 10:18:24 AM
Name: SmithKristen
Title: Administrative Secretary,Risk Management
Date: 5/9/2011 10:46:46 AM
Naive: WoodLyn
Title: Contracts Specialist,Purchasing & General Services
Date: 5/10/2011 2:02:14 PM
Name: CarnellSteve
Title: Director - Purchasing /General Services,Purchasing
Date: 5/10/2011 2:02:46 PM
Packet Page -1772-
5/24/2011 Item 16.E.10.
Name: PriceLen
Title: Administrator - Administrative Services,
Date: 5/10/2011 5:18:56 PM
Name: WilliamsSteven
Title: Assistant County Attorney,County Attorney
Date: 5/12/2011 7:53:55 AM
Name: KlatzkowJeff
Title: County Attorney,
Date: 5/12/20113:52:22 PM
Name: UsherSusan
Title: Management /Budget Analyst, Senior,Office of Manage
Date: 5/16/2011 11:16:16 AM
Name: KlatzkowJeff
Title: County Attorney,
Date: 5/16/2011 1:08:17 PM
Name: SheffieldMichael
Title: Manager- Business Operations, CMO
Date: 5/17/2011 11:20:29 AM
Packet Page -1773-
Via Electronic Mail
Mr. Henry J. Jones
Project Manager,
Collier County
3301 E. Tamiami Trail East
Naples, Florida 34112
lutions Group, Inc.
March 1, 2011
5/24/2011 Item 16.E.10.
Re: Surety:
Evergreen National Indemnity Company
Principal:
Surge Solutions Group, Inc.
Bond No.:
860371
Contract Balance:
$27,105.00
Project:
Underground Storage Fuel Tanks Removal
and Replacement;
Bid No.:
09 -5237
Owner /Obligee:
Collier County
Dear Mr. Jones:
Surge Solutions Group, Inc., Contractor on the referenced project, is winding down its
business and may be unable to pay a few of its remaining vendors for the completion of the
project. I am assisting Surge in an advisory role as it winds down. The Surety, Evergreen
National Indemnity Company, is also assisting Surge Solutions Group, Inc. to insure payment of
all of Surge's appropriate vendors with respect to the referenced project.
As you are aware, Evergreen National Indemnity Company provided Public Performance
Bond and Public Payment Bond on behalf of its Bond Principal, Surge Solutions Group, Inc., on
the project known as Underground Storage Fuel Tanks Removal and Replacement, Bid Number
09 -5237, in which Collier County is the Owner /Obligee.
Packet Page -1774-
5/24/2011 Item 16.E.10.
As a result of providing the Bonds and assisting in paying vendors and/or resolving valid
claims, Evergreen National Indemnity Company is entitled by equitable subrogation, assignment,
or otherwise, to all remaining contract balances, including retainage.
Mr. Henry J. Jones
Project Manager, Collier County
February 17, 2011
Page Two
Surge requests Collier County direct all remaining contract funds, including retainage
amounts, if any, to be paid to "Evergreen National Indemnity Company ", c/o Robert A.
Bauman, Robert E. Morris, P.A., 5020 W. Cypress Street, Suite 200, Tampa, Florida
33607.
Surge Solutions Group, Inc. reserves its rights, claims and defenses with respect to the
referenced matter; and nothing contained herein shall be construed as an admission, waiver,
estoppel or otherwise.
Should you have any questions, please feel free to contact me.
LMG/
cc: Bonnie Baer -
Rebecca Erickson -
Gregory Miracle -
Robert Bauman -
Michael Yurkowsk,
Very truly yours,
Larry M. Glasscock, Jr.
2828 Routh Street
Suite 500
Dallas, Texas 75201
(T) 214- 683 -0432
Collier County
Collier County
Contract Operations Planning
Evergreen National Indemnity Company
Robert E. Morris, P.A.
i - Chairman and CEO
Surge Solutions Group, Inc.
Packet Page -1775-
5/24/2011 Item 16.E.10.
Mr. Henry J. Jones
Project Manager,
Collier County
3301 E. Tamiami Trail East
Naples, Florida 34112
Mr. Henry J. Jones
Project Manager,
Collier County
3301 E. Tamiami Trail East
Naples, Florida 34112
Gregory N. Miracle
President
Contract Operations Planning, LLC
23500 Mercantile Road, Suite D
Beachwood, Ohio 44122
Evergreen National Indemnity Company
c/o Gregory N. Miracle
Contract Operations Planning, LLC
23500 Mercantile Road, Suite D
Beachwood, Ohio 44122
Packet Page -1776-
CONSENT OF SURETY
TO FINAL PAYMENT
ALA Document G707
(Instructions on reverse side) Bond #860371
TO OWNER:
(Name and addrecc)
County Of r r�
GollliEr ^^
3301 Fast miLad 1cai Fast
N Ales, FL 34112
PROJECT:
(Name and addrecc)
�d Storage Reel Tacks PHliwal. and Raplacemnt
5/24/2011 Item 16.E.10.
OWNER
❑
ARCHITECT
❑
CONTRACTOR
❑
SURETY
OTHER
❑
ARCHITECT'S PROJECT NO.:
Bid. #09' -5237
CONTRACT FOR:
[kxkrgrnluxi Storage- Rel Tanks Ramval and
R4lacelent
CONTRACT DATED:
In accordance with the provisions of the Contract between the Owner and the Contractor as indicated above, the
((mien name and addrev ofSurer)-)
&mil Nat icrial Irdffrnity Caq)ff y
6140 Paridaad Blvd., Suite #321
Mayfield M*Its, CH 44124
SURETY,
on bond of
O2cer[ name and addres+ o/' ;tractor)
��e SOlutirns C''+t -i7Up,
81M Belvedere Poa3 Suite A
West Palm Basch, FL 33411
, , CONTRACTOR,
hereby approves of the final payment to the Contractor, and agrees that final payment to the Contractor shall not relieve the Surety of
any of its obligations to
(Inren name and addresv of Ou-ner)
Cnlnty Of Collier
3301 Fast Imiard R-a3l Fast
Naples, FL 34112
as set forth in said Surety's bond.
, OWNER,
IN WITNESS WHEREOF, the Surety has hereunto set its hand on this date: AFril 1, 2011
(lrt,wt in writing the [nomb.fi )lowed ht• the [uaneric dare and ,car )
Y 'J J 3 • •ice • •T
(Suren')
urhorized rzpresvirramv)
Attest:
(Seal): Joy AttaxW Tn Fa`t
(P,iwer matte and tide)
/• A1A DOCUMENT G707 • CONSENT OF SURETY TO FINAL. PAYMENT • 199ai FDrnON • `AIA
4
01994 • THE AMFRICAN INSTITUTE OF ARCHITECTS. 1735 NEW YORK AVFNU.F., NW, WASH-
INGTON. D.C. 201106 -5292 • WARNING: Unlicensed nhotoconvina violates U.S. copy-
,
Packet Page -1777-
5/24/2011 Item 16.E.10.
EVERGREEN NATIONAL INDEMNITY COMPANY
MAYFIELD HEIGHTS, OH
POWER OF ATTORNEY
POWER NO. 860371
KNOW ALL MEN BY THESE PRESENTS: That the Evergreen National Indemnity Company, a corporation in the State of Ohio does
hereby nominate, constitute and appoint:
Joy Bauer, Julie K. Bowers, Karen M. LoConti -Diaz, Lawrence Rhodes "
its true and lawful Attomey(s) -In -Fact to make, execute, attest, seal and deliver for and on its behalf, as Surety, and as its act and deed,
where required, any and all bonds, undertakings, recognizances and written obligations in the nature thereof, PROVIDED, however, that the
obligation of the Company under this Power of Attorney shall not exceed Two Million, Five Hundred Thousand and 001100 Dollars
($2,600,000.00)
This Power of Attorney is granted and is signed by facsimile pursuant to the following Resolution adopted by its Board of Directors on the
23rd day of July, 2004:
"RESOLVED, That any two officers of the Company have the authority to make, execute and deliver a Power of Attorney constituting as
Attorney(s) -in -fact such persons, firms, or corporations as may be selected from time to time.
FURTHER RESOLVED, that the signatures of such officers and the Seal of the Company may be affixed to any such Power of Attorney
or any certificate relating thereto by facsimile; and any such Power of Attorney or certificate bearing such facsimile signatures or
facsimile seal shall be valid and binding upon the Company; and any such powers so executed and certified by facsimile signatures and
facsimile seal shall be valid and binding upon the Company In the future with respect to any bond or undertaking to which it is
attached."
IN WITNESS WHEREOF, the Evergreen National Indemnity Company has caused its corporate seal to be affixed hereunto, and these
presents to be signed by its duly authorized officers this 1st day of June, 2009.
SEAL
Notary Public)
State of Ohio) SS:
EVERGREEN NATIONAL INDEMNITY COMPANY
By:
Charles D. Hamm Jr, President
By
David A. Canzone, CFO
On this list day of June, 2009, before the subscriber, a Notary for the State of Ohio, duly commissioned and qualified, personally
came Charles D. Hamm, Jr. and David A. Canzone of the Evergreen National Indemnity Company, to me personally known to be the
individuals and officers described herein, and who executed the preceding instrument and acknowledged the execution of the same and
being by me duly sworn, deposed and said that they are the officers of said Company aforesaid, and that the seal affixed to the preceding
instrument is the Corporate Seal of said Company, and the said Corporate Seal and signatures as officers were duly affixed and subscribed
to the said instrument by the authority and direction of said Corporation, and that the resolution of said Company, referred to in the
preceding instrument, is now in force.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal at Mayfield Hts., Ohio, the day and year above
written.
0 E- 9
2.: �� \I I� %•.,:
PENNY M. BURNS
I-
5 ` =
-
NOTARY PUBLIC
STATE OF OHIO
Comm. Ex Piro"
,......` ;
APrll 04, 201 2
Penn M. Burns, Not
Y Notary Public
My Commission Expires April 4, 2012
State of Ohio ) SS:
I, the undersigned, Secretary of the Evergreen National Indemnity Company, a stock corporation of the State of Ohio, DO HEREBY
CERTIFY that the foregoing Power of Attorney remains in full force and has not been revoked; and furthermore that the Resolution of the
Board of Directors, set forth herein above, is now in force.
Signed and sealed in Mayfield Hts, Ohio this 1st day of April 2011
,('Y1
Wan C. Collier, Secretary
Packet Page -1778- - - -- - -- ..-- _ .. _
5/24/2011 Item 16.E.10.
t NERAL INDEMNITY .,,LGREEf 'NT
Tl1!r ;nal.rnu,c „f rel,liteH`Inp ;ill aL•It'tYliti,lt h��ixuen the Sunny r,ys defined in iX.A. hale[,•', ;fail Line nodl,l,A.:ou L hernoinlim• .'..Ivrrnrl In as tbn
lndi'mm�a dernimij term at, fit ( h, hiri inriudta tile. unrfers}guad Frinupnl). f n• the parµ, >v n(unlannil)'h1I: [he Sucetx in crrnneclimr a ttH and as .fir'
,11 lilt, cnu ;irh`rmnnt h.r any ;land ,whirl, w-1d at urge; heroin refort, u, Anyrnnu•ncl.trll nbhr,,11 ,n of aurot }•slop. and any mil all runcu•nl.;. exl.unsiar
nludibrnuon:..
nod ';,ehclitutrs ther'nnl. uadertitltrn Inv Suroty fnr lite Frineipnl), w110% the fiare.ty Crnrn time. to time- n1:g' isr;ue r,vhieh word u: its,
henrtn n,('erc u, [lie prof nnton: vl,4 t 1t.,,n. delivery, or prncurefeent nfAr participation in any' Cirotd 1 fir may h:n•,! tittle hart'I i,ut, ( the
iv ,hcirnawial ;pug that aauculinn of fliis Ag,•nrmynt nail lssnnnce of nnv Bnndn try the Slimly It rill it, ;e in rel mrca on II n rA ;d,rnl rnnlplmnco hr
the h)Aem nion'c unl:h nil the n•rmi' And rnndit;nAa of;ills Ayrucmenl.. i,cluding hilt nor. limned u+tlw diaclnsur + +wnrrnntit^ +:el, forth mr•1r11fP.a halnw
1. I'REMTI.il1A: Ir.u' Cncl, ;tad nvery Bond Is..ued for tilt. principal by thn Surely, th,! Indumnilors will, at. or hefnre the fimn ill' e,:entl fern fir,
case or a Bond rr <mnvnl, exleu,irnt. ,lrrtli fcahn,. fir suhstittUnn, at life Lime of such repo will. estane ion, murlificninn. M, ;nhelitnfinn. fir m toile case le
n term , in or
prrnt;urn. io jo tati 11) n c rnfiec,' with nrt.he term, ray or rausu in INy plot; to t}n: Surat,. ,r ii.r Agent. all tN-rrn,urns'!fill other char., ^as of f hr
Surey 1 the Ko i, 1; fl,n fit in woUlnt.! tlen t.ho Suroty'% ocheduled rates prevailing al thei brm•; and des premium anon[ nhh 'an Nn :.
:rc until the Suratf ir. 4mlished nn U, vvidunra.% ;nis6lctnry` lA the Ran'Ly ill' u;, 'gloats and t(t <rlurge from the (hod= noel from .11 h:th,li,v by n,mmn
I''' 6 hnU etntmn
the"Alf. rnilnn: of the Surely or its Agent to cnllnet premiums when duo Will fill[. ape rLdli o; it w•urver of the Anroty a light to such prrmiurtti.: anti fail-
ure of the principal in prly to.*fo;fiius when due shall he daunted a Lass fnr purposes nrthis Aproon,eaL.
It,. INDEMNITY; il Gi3NERAfi., Thu Indemntturs hrret>v a6ntc fntthfully to perrnrm pal disrhnr , •.
of each :old (t•ery nhligatinn unposed on them in Any of then); by each And every Bond is spud l,y rho Surety for the. I''rncipal, by canh :nvl eve ry
µ fir etc ill tilt, I Ili ,d Ifarformm�re nor! discharge.
tract wraroncod in nucb Bondi, and 1w each anti evert, provision of thin: Apreelnrint. Accordingly, the indemnitor.ti further agree to econer,it , sovc harm•
Cml-
uas. uld.!n+„itl. And kucp ;ndern . rh the Surety from mId nsArnst ANY AND ALL LOSS WILiTSOMi,E f htchalintl but not hruifed In all dmm�nd ;.
which l I ;nirlmly damages, rotfs, rhargas: foe;,, exponsos, suio;, nrderl, judgntent5, adjudien inoe, oral urn• ,!.her ing b: n(ot l nrre'l nine'', fir
wirirh the finnx+' Iriyx fir uIcnr- fir f r w•htcF,. the Sur;fy' htnmes iiahle ,r has ran'u,n to hcitrvc a rs. ;'I'll hit, ,
kind
Durcl.y'01:111 iwve pair) ant any sums on account nrauuh Lasses 1, fit' nn}• rna>:nn irhntsnvr•er. reel udin; but nut lint %, liveranl ,!rile ar'imle},•is['r or not the•
n'wnt If%, till, fiurota• ni nap nbliyn Linn,; impnsetl nn t:hc Principal t. by tint• Hand or bnnrltd ,,r, o,t:j1 o • s :•, l .trm, or fulriil.
;iurrrv'ti Cm +cepnurm ,Run' band pursuant tit V.A,1. helow; 31 The procurement nfnr otl:empt in pr,rcllvt IA discharts, or'relc Z Ifr fit o N'v Braid f fir rho
.Itf �' (0.111, }I t,a' ari.ine rn the Sor,:LV trt`ro(rorn: 41 JAlan%, or till,rantens or inns, or o0oir nx)eo,nnn% elf t'redit, raatto Ir
:illy (n6"onnn: 51 Repn5iv (laid fly civil Surety to pay t:nurL, gAwrnmmlt llgO,CY, fir ptrfinll Lr, nht.al, Lln ,S.'tlrCt I 1l, from
IV the Surety to or far the any lial. of
itv; fin EnGirnnnem ninny parr nrtins Agreement. by, the Suroty 11 aintt the indemnit.nrs, 7) The prlrsecuLion orally owlirr r•ightp,
y s dindtnrgn of relunbe frnrn Any liabil-
rte of cho hrdrnuumr� M' Ihn, Sarnia A; ;uhrognet N1 r es. expenser;, Charges or ends n.snc,ated yvith the Indamnunr,' cnnplionc, will, fins Agnn:,namt
P rcmod;ns. or dnrenn-
nr oath dcm,nd; otntle I ;v r }ui 5uret y pamunM ur C trolmv ;. 91 Internet. nn %time paid by the 5urel,v lire nnv Af the ahuve: Lind In, [•eats, ca(x'ust, charges
;u�d rn�tsal' }N!rs,nmel ill. ;;hurl In• the Suroty in to olui tion with nnv or tile above., whethornI. aryl ;rr:y nr rnur ;narnrnthcrn'isr, inrtudinl; nnnnlny::, ;,,vi,a,
tgntnn:, ,tr)nwlorc, m:tYNUaanrb. em loOPeF.. cnnnnlLuale fir nor otht!r erprtrts fir• spertalist; r!••enu•d nrc!•eslrt' I!v I!,,- Sur.N v, nntl nor
meal ire }4Nr?i• oftendam tltl•Yrin
ate purl
Ii, SCOPE. The Indlunuipw, ngrvo that d x: duty hcreundt!r to indmnnifv fhe Surm.t, I , ,lnplic to finch nail rcr rr fiend I- +veer; ,:- prr,rurrA fnr fir
r,•uuc�ual 6l, tlr. pri�r,pa , env huf ;!mn,bu' t.:.1 n,}; nn 6ehrdh +f the Friocipal), u•hr•Lluv'rontrrn'[m4 aloe' n ,,< n 1mw crnturnr l ;,tip hind. tin, fir app and .,II CrnN1,: L. +:u,rl puNUn @. nr'regnrsted prior Lrt tbn nw!ruUna of till= Aprr•t•m„nt In Cnnlmut•• p „cep[ :,< wb -1,1 far. ,1111. i cl m
T,.n'i wdeon ,00h ill ii, t to Lid, 1dt ill Indnnutitnr;! a All: a! the flare() ' it.: tennhur =crl fn nnv and ,}I lap; ce;, a +rl.ginu,l t,1 .l, ail -t,1;! nw ill' nnv {dmuh.
dcsct•,bad ui It, }, nn11 Ip (,el, moiled evidence t, aces' to IIli, Su,rty or its diAell"rp, fir rr:I tike frnrn nay firrlher ur iuutrc 'aril Ln, s.. fir }p the.
aare•tmi.int i;: I.yrnnnatntl hr' all tilt Indrmnitor5 in :ucn Maim with vlil heln,v. udliehuvra• •adult. later.
1C. SI'MFIC DUTIES. The rlui ;r or Lhn indr!mnilrA's ,el. forth tit Aland Ii ninl e to tnd, =ntnlry till, 1; el.% shall 1w .m affirnim,w. dut.o "inch :dull
,411 re hill our r xihe d ir. ,,ni :pceific. n�rnuf }ve duties listed buhnv; and Lhe Indennlitur;: n,rru to comply r,'iih any nod all d, ,tt,u,d= r'f the $ur••th•
to(alidr,Inc fir all r,frileto }imvmg dotes, within tin! lime, in the nuutnor, find npnn the lsnnx;u,atd fi the Seret }'ill a n dannnnd fir rlonruxl 1!, Sm re
tilt tir pay of the Surety from any Band and from all habi)ity fir;stng to the Surety therefrom: 21 Cure any aUegud breach in nnv bonded nuttrnct
Alid/rn' pay fir I lie any nhlittntinn ariein; Lherefmnc JY Fay nay Less to such parties as the S,,m•ety diructs; 4 a ftc;tnhurse tine :it f n all Lncses paid
fir rotor , d h toile `tu, clt u 1 rovuie such ticeu fits' Ias derinill in IV,, its tilt Surellf• dee n . udanunto ur prruve a npni l.n :vI` fir the riah of 1- ,spurs;
tit D" fend nd l "o., v,. cl mil r r snit acid /fir pm-ecuto tiny )ight. rernedY ml, power to n.tu, tit L t -its. , 7! IIrnv,d„ e;ndenr .. ur. t i .,I,rt It, kf ; Sanay of
:urn i r: ut tat o e , ,l e na !he Sur,!ty rnny re,}uirr•; and flI Provide mrnr•ntatinn or drtnm fit, ,fir provide any u'rtten tuthnn „nine wheel, tilt Sur'r�i
mar ''guile 1 lr th yurcty to ohlonr nfnrmannn or dncumcatn frnrn third parties.
1). JOIN- 17 A: +J) SEVE11W. LIABILITY. The Indamfiito!'s ouch agent thAL tlmir (faints mid Ihduility to tic Surety .:hall kK mint anti ee.vernl; that the
Surely %hniJ lurve nn obligation to mane dmnoml upon or sua Lhe Frincipal that her,re other Indernnitnr., fix to treru individual Indnmminr equally.
evenly, or pen -ring hl any manner al, matter, including but not !;mitad Lo those :nnittrs anurrorater! below; and [bnl on Inrlemnh.nr'.+ liability to the
Surety AN111 ht, dIsChal lfnd err dimin; %bed in nny way by Lhe fact that: i I Any Indaunitlr cmtlumpinlnd }lv this Agrcuatrnt is nni hound. bacons,• Ihn[
Indanloilor failed ,o execute this Akrnumm�t. or }tecause that Indomnitnr won adjudo'"r ;d h,n}tr,r tt or i thin, N`tree fir t,•I..,uvn fir nnc hecin rtv,>nn
rr•hntfd,nr't•r: , The Surety' utkas al, dansands c,llinter:d ('mil one ur pore Indem niter•% but ant from other Indamnnors'. fir iake< cabateral of dl, 11, rent
kind: m' in dilieront. anunutc< front difremrit ladonnrifors; or reLurnn, rulnases. esch:uiges, nppiias. asi;gns:, fir ashaust;:. in n•bnlr fir ur port. rnUataral
provided by one or mare hidernnitnr's without ;imtlArly returning, releaaing, exchanging, applying, ass;gning, or exhausting, in trhol, or in part, rol-
iateral pr,•,r }tied by other htdrnufitors: or line or more Indmmnitorn fail to provide cnilaterid or the }rind, in the urnnunf. [oldie' at the tame pmmisnd or
demanded: 3! The financial cooditia, of any Indvmnittsr is tuetter or worse than that, of any other rode Lhe r'. or than thrd winch may have d or
assumed I whin this Agn:ontent rvus executed; 1) any tnduamiinr t,rtninxies this A;,Tncrnent, as provided in 'form» nation: or the Surety rrlc hot, one or
,aura fndemgliu,rs 6•om this Agreement bat. fails or refuses to release other Indenin }lours: ur life Suroty pnssrssc%, aeeupu, or re
ndenwiiv Al, reenwnla other than this tine which hind into or more indemnitnr3 hmn�tn but nni nihcr indeuu+;+nrs heroin: ii! -file Surety makes t
;onus% General
d ol-hor or enont Butt or scales a Ci v g or ;utL, or appeals or fails to AppcAl A decision with respect to ogle. or umre tndan,ntlrarc hill not will, m.sl r.f
to aloha' In Chat errs: m' h The Surfit ;a gives nnLicr of any land Ln one ar more, inden,nitnrs but rte;. to Adler Inremn,uI . ; ('R6 \r! DJ:1). hnrvcr'er, that. W
tiro rstim. that t.iy: tiurz'tY cnliccts funds frnn, fir Lis subrnaoo or, or dtspnsa„ of cnllaturAl prncitlnd fry, nnc or ranee 1, rs; I n OVI ;.re n- cave'•' of Ln >san,
the hohthiv of each and ovary Indmmnitnr to tilt. Sure4}' I'm such {,,,seer. 511,111 diminish pro tantn.
s. I • rortCt rlrrn'. i • ht aey cult hereunder fir in Ai,v accounting to twein tilt Sorel, and Lhe Inth•u,nilera, nn itcnnzed sunemcni of l.n ;art ctvunt
le, In, all >ll,cel f [h Surety ,hall hr, perm, ftrie evolonce or Lilo fart and nxttnf of the hill this herelmAcr of tilt• Indenuriv+r'a ;n foil ti, rot,,•; ;nuJ rho
h,dern, n v it lei, nn, ant' and all right tr, r ctrl. rill[ he Surety, by itR arts M' erne: alas. mcurrnd nuhr! I s their n , ;, r!• fir I.,d..d In recover
a- much 1 t n Rlu I , ,I h t} expt•o: h underst,x rl that. err• ;(tnoc' rnny tie mere cntirnl than ernnnrrry m ,i, Ifiinnr Lh,. y:int. a= oval ,,. ihr, letwr
firth•, ti t, . blit ni n and r Bonds, it 1 :.urn for the Princrpal 21 Sepal itr ymti nut. I,e bale ^h! and r.u!L
mils hr 1 - ugh[ 1 _ tin. f. List t tilt nr Ihn lad, mn t.!r.; lad i,tittrar smitur upon not, our pare: a,M.Ac -,urn t, n, ur ;t(;am.n non
ab:dl not p .i d, s. , Iwr ttnh, q`"Il sure -1 tl r t nnv orhi,r fir all of Lilo Ind, mnitucc in, tJu• -n a or ant' miler cnu_,• it v!. ,•
Lhrr•tn! r tl ,r. q ,[ .curt li 1 he b ibth .+ of the }ndc'nu,iWry vhall tint In! affectc I I , We f 11111 t• of 1ho r'rnlci p:d is:. hCn ,hnytf and •ts l, jtcil
.a• nlheu ry t i M si vlmo, Ihn m her nvle„n(y fir :eru nt,� wnc to he riven or obtain ,I n , Ill, Lint rf Ira.ie nI one w icnnn ;t ;t'. lnirnudtnf fir �:ecu.
W t„ n ,.lci r.nl r ,r•lun -v t °l,1 v roll n, , ! fir �eeur ;ly thm . inns• have b I t 1n.•rt.
lrI DISC t. i rir A fnr fidi.nunin q m in rvltrp -alt and retort accu ,taly, t'f llpt rti.. and p,nmptlr t}r ', t at .dl tnnna that Ile;
1i , fit ri , in w,,.ct. f,rt. r •Itr h tl tie[. di erlly or ;ndtn.cily', It. tilt• ahilil} fir the Pr;n np•sl fir ;toy the: Ind,
nt 1 t. r tr l' .tl m nn,i ,6- rat,tr};c his
Jute.. Jt r m l - n s t urll . in nnGry the Suntt t Ilhin aN hour of dr,envnr ill rata= ,thten I, mi -. ht n'e r. t ( ;ny c} ' - 't- h 1i i (. o hi.;
lain -ui fir I r ,. 'rho nti n(ur uJnt. drrecf!V rt.anv cn it »cis handed by Ilty ur t and It %zard!; lr, haf.lier the
f ldimnni , '10 wit any -urh , inn n, suit, w. Ln i%. fit ”, on;:ht indim . [.flat i,.li' +nlr,rdy Ii,eut lac neann•u n: „ ;mnun.,nl
I Th:. Indict , n , it. nu• fully [Vito![ and t, nmkr' ptr clsun nminet the 5uruh• nn nannrit n} tilt d,: rota': ctlih. t- tr obtain loll et:,rn,nc
n,< nni, i ill }.,r d..rontanti ,,d In umduct nt any Lime ,ha lnllnw,ng inqun.es and infipc•e')It an ono o,he rs., ao ;v' or u11.! it) nrti,cc:. nil of which
1 :. Iadrn au,u� h,t It,, Aaunorizi, and nmpor.,;r rue Sur,:,v it, condos[; i i The Surely citali hl,,e true tic. ^.our. u, the il"6, r•in:Ards. ;mil :menuntt: fit ihr.
Indmmnitnr.:, l,d,etb-_ ur tie pn ,Se ;asuA or the hrdcrnn;tn': fir third }s,tie., for the. parpn.. rC a mini,{; :nNl cup }�nG them: 2, Thu flu: zar ,nnv %, then.
rrun,iu,i ion nnd4n r+-;.0 o. d;: from thind pn e, melu.i,ne lint not lirmled br hanks, brnkers. .u.count:,nts. suhenntrnci ors, s+; pfsliers, mint acnturers.
f+ r r, nn a u r. fir any ocher pr'..tail. rir'm. cnrl'nraiLim or puhhe agerity: And T. t h ' Si Qty ITIAV v!cit :,nil yin•. calla ur:gm: t fir ,fixer•' ;et,:
my :ire. ; z, m. ; ri c. or i to,g whlclf. in the opin"Al of tu•. Suroty. i3 involved in fir rnny L n¢• m, e}?eri nn :r»v cnnirnrt bunrJv l hp Ill, titnrw or nn
.fit. dlritiLi a( ilia Princ,pa! fir :ialy other J nd000wor. to ptn'im',r, his duties heniundrr.
C. Tl,ri (ndcmnitna ngrev e, rrpresent nocur'rrtt ;ly and rompletcl)• in Obligees, mill to all miler Aartes i,n u•iunr Lhi•,iurolp ma §ht N, Irnhte Nader 13nnds
I curd for tile I rmr,pal and to- rn'orumonl auto riCe %any And 111 such fac,r, as the Pro cipill.:ndinr Indeninitnra i +rnee ill >ligatud to r. ;scln�e nr atUSL
Its by cant' i ! n Ill, „m- rltAll, of law:nod Lhe Indrruniinr.� fit Agree to m1!.e no mi ;ropresontntlnn whataneyc,
t Ur any r:f Liu: alx,vr. fl ;dines. par
.a.-:. ur awl,nnlie,.
D. The Inrleutn }fnr: +her,' },y n,nhomitti and oniptwur tie Surety to firr,ish any iufnrtnnL;nn an'o, dm-In It,'t whedwr won;nerl nh,o•e firniL'nrwrau,
which it ,uw has fir mar hereafler acquire, to other pvv,4 TIS, firms, corporation, or entities. only fur tilt fnGnwing pu,prroe: 1 ; 'Po ruU11 the Surety`a
ntperto)g rLqunTvj, lL, fit ,r,vernment, AaLltnrities, as niac 1„e required by statute al, government fit ; ;ufatin n, 'tail to insurance uuhs..cr }� nssnclatimns
it ntl%nr rating ccr'virrs; 9i'rn pri>rcre or Attempt, h, procure a -s ratyshin fir rein;:urnnce fir 'I t Tn :,void nti nr;snrt of nnv Lae,:;.
V. SI:GL'}tSTY: Tn secut., their faithful 1x,rrmmAnre ill this Appeemeol, the Indenmitn hereby: A Gilt'( to the Sealy 1 tie .unto lulorrst is and
In of t}Nar props i k. real And 11[',011u1. Llingitne and int•tn„ }big, now nwned or hereari'• t f(uired, incluf ing ;,If mtnme and locciptr, clu'r •fro,, and
fr:n.,: •n 14;r IT?
":6l, :::;•):.
Packet Page -1779-
5/24/2011 Item 16.E.10.
increa;el solid upprvcilatilm thercei, upon its, -In, terms. I! The ludealniturs may not consul ell. dis5ipnte, iranefor, pledge nr ntlw. wine ohs.
III ties Of Liu ae54L, or pralserty which are the saAlert if this Security InWest without the prior writ. —I run sent or, he Surety unless •a 1 such AsaetS ,ir
pritlorty are Ordinarily consumed or ;,std tit the ttirnrd cause Or Lhe. Indiamnittrs' bu,i[less and (is) no Jenpardy Event lids occurred;''?) The lndenmi{urS
Aga'ec thus This Agreement rnnrninrn•S a Security Age—ment still Also a Financing Statement. within the me ing air the I.lnifonn CA+tratreiA) Cmle !U,CCs; 31 If a JaOpardy Event occurs, the Surety shall haw and may "t its option exercise ail of the powers, rilthin.
and runtf!die"s or., Serurrd Party
undor too UCC; and the amount roved the Surety Shull be. determined tin necordamx with ILEA nbnvn: and if the Suraty desires to dispose of tiny Assets
nr property M Ing into its posAns,i AI pursusoL 1., this 4eCrirm. the Surety Shnil give the hlfletll+ilLsrs rove days alittce. which the Imlerimitnr5 helriby
ogre shall tie sufficient; -it l?psn the temmratiau "This Apreensixid in taeenrdance with Vlfl, and Ill liability hereunder with respect to Any lndemnitur.
th" Security [literalist grarowd herein by that, huletmnttor shrill ?ae deemed null and valid and file Surety sha11 release its Security hueresl in the assets
and property of that indemnnnr;
B. Assign, cm+vey, and transiol, its tile, Surety, mdlivult to tlKl Indomisiturs' right. In use null tatvsession of the items tint "I he sae, prior to Lite ocrurrnnv.
aria Jeopardy Event +which right shall I.III-Minilto upon rho ocrurronre of a Jaatmrtly Eventt, all right, title land interest, whether legal nr equitable, of
the hldomnit.urs in And hA. 11 All naehinm•y, plant, prenisos, equipment, tools, mnteriabs, inve,ntorics And supplies of every +1ALure and duscripnmt,
which are now or may horonftor Ise awned nr posnusised by any Indemnitur including Any or tile above which only have been purchased or ordered but
11,11. yet delivered, Any or all of which List, Surety assay use, ransuare, slur. 401, lease m' abandon As it dolms necessary or dosrable In rnnlplate, only
bonded contract or Lhe Principal Or rectrlor Ann Loss¢; for which the lndemnitars are liable hereunder: 2) All suhonntrncls lot Nil- to he let, and All Suraty
i handy covering such suhmntr'acu+rs. and Afl matrarial; and supplier, embraced therein, in connection with any And all ronlrorts covered b,y any Iiixlfl:
3 i Any and All funds due or whrub assay theroall l' become dart, n•hother for egntruct Fi erfm-anance. ehunlln ostlers, rottiinage, claims, awards, Settlrmnnts,
inttrust or otherwise., under tiny And all cont.racU in which any or nit Orthe indemnitors havu an interest, whnlhor blandest by Lhe 5uretr or oat, pro_
v'ided however, that whura the. teens of a ctmtract. or local law prahtbtt Lila assignment of cantrtirt pn)cro ls, such cnnu Oct. pnructli Sur he paid t. the
insuaactian of the fanneipA] or or the Suroty Acting on tile. Principal's behalf into an Csiti'uw of the type And ,ubjetL to the terms sat fnrl.h u, h hrinly;
and if for ant' run.5on aunts slits' undor tiny cmttria are paid tit the Indemaitirs Or anv Ai• thorn, such hldemnitors sbnll 11041 such funds ;+S A treat rug
the stoosv port ices ass the taint. rniscd by the f:5crow d(lscrlf aid in P below; And d) Any And all janwar6, righiss, rernedi05 or defiense5, AS tilt cost may Ire,
of tilt indemnuors growing in rally mariner out o5 sal Any handed contract; (ill tiny inauranca txshcy: lei nny Imes or accounts ro "Ill vuhl c: id, env And
all Claim;, t+atwns• cause, or action, cownryrdnin,;. iet.oifS, ;lull cniwsclAims wllntsncver• acautst whmuf.:•ar, Litut an hulennxor nut, ;hr. ea,t'.n to avod
nr rcrnver Losses,
C. Grunt to Lila Surety I+ license fir Ili, a -e of the items doAtnihOd in U. t Aboioe far the come Intrposcs And with the sAnt¢ powers nn riescnhed thare.
in. in the event that the nssigntnenl in 6.1 shall lint for any rea,nn to give Lhe Suraty the right land ?rower to utilize the items in It, 1 n) fulfill n:: brand
obligations.
D. Agree to dettniia wilil the Surei;v upon demand funds Al- nt.he.r collateral of•,uch kind. in Start' nmnnut., at such time. and fill- such daralmn 0a the
tiurecv only requn•r. with the uudursl.atlding that jilt collateral 4ndeposited Ilmy 1x1 liquidated and applied lav the Surer;:: At inn sole dINVIVU014 and with.
nut orifice, tit inu:aen or the Strety and 46,111. tulle ;.; w1welrically Stntcd retherw•itle if) writing !IV the Surety. be rnnclusivols, lit-111-d to cr.and is a pledge
for rill Ilunds issued alt All., time by the puny, inch+dtn_i II"nd.c issued prior to the exocuti,nl or char, Agmenumt. i,nrh the hxhyrilmt „r,, ,nail, up,,,,
demtitwl and ;u the. own ,yt ;o, naa, rurnish ,uctl apprn, :d :.,f and .:uch til.ley mad U15Uotty -11111711-1 pohewx any f it,,! rs tmAy - olluile m ti,n tv
G:. Agnes. I,, rutnmt. upon demand to nn.gfurg mondev nyt of anv or All of l.bc pinjerl5 0r rnntrart.l, helrle(I by 114e Snnity, lit .;urn oi.nnil ;,sari win 11 s 1,
G cuurnry n. the `,Only may require; and .such mn'moriug mm, mrhule brit. Sh;di mac necessnrih• bra limited to All "f i.he iYL 'it ” , and iihtq,ori.n ,I wlnrh
the :1111'oIy i; ,lnlpnevemd to conduct by 111 19 : And sat) 0f the dutlaA and prnvismrts or Ill. t•hafl nppl,v I" such muniuning; stud Ills, (nrie.nuunin d'urilier
nareo In peh• u, the Sncuty rte tar, doe „sae¢ when dun any :nrd nil ennLs. axpvnecs. AntPol' foes aasncinted with such mnnitnriut::
Y. Agnw that, upon detnanri the Firinctnul ;hall irigu sort the fd,hgn- "f env hand to mnitu poygtents of all contract funds dui, the hri,u•ipnl. ;ts such
runda ;re &- fined Ili 8.:1 ebwvc, dirnctty to and oei,vahly, to art Eaeriw Agent. selected by the Surely and governed ltv all Esrrnv: Agraenv,nl. oxerwed hp
the Principal, the• Surety. And tile. EAcrow Agent, the esla`nays, fees, anti charges for which the Indomnitairs shall pay or reimburse Lhe Sure ;F•; And toff
Parties hereto itt ;l'L`e that Sllch on eoernw Shall /irii he conAtr"orl AS an Assignment of cxitrael praeoedS, w'hert, Inc l ltaw or the terms or a con G'ar:t pro•
hihnsuch An rism9nnient, hill, an A ins.., rear LI7e pttyinvol, of nhlignhnn4 iticurred in the pro-lArninsice elf the contract incitiding, easy mr.r!IT,CALlole; thr.!rt!.
I!( and for tallow, soaterials, Supplies, and te!rvlces furisi;+hed in the prnAOCUblin of Lhe w'nrk prnvidod in Such crintrael., and fill jilt sur.?i ntl,iar ubligii tiorrs
in cnnaectinA icitl, such cnmraet for which the Sirety tt•nold ilis inside nailer the Botd, which trust Alsn imtnys to the belf•fit. of t!”' Suraty Ga any Loa.,
Lt. which tin Surety. may Iry exposed under the Band: end Ali pnrt.ies herau+ further Agree that this Agreement land declaration shall :den ee15LIttICo
hlUi)L'V i }' ALLC)t lr1,P.i.
V, GENERAL Pt7WMIS OT THE SURETY: A. The Inrlainnitor: hereby uuthoriza and empower the Surety, at ip, option hind to its stile d1AQ'L•Lian,
with nr w•ilhnut Outice to tile. h"lemnit.Arn, to: 13 Decline tit issue any flood, even when such [fund is required by the Lertns life hid for which the Surety
executed a Bid fiord Or by the Lernts of it rantract for whicft the Suroty executed a final Bond; [laid, where the Surety executes a Aland vvhiah by its
wrms arlay nperadoll Of law converts pram a Bid Bolld tilt" it Payment and/or Performnnem Solid upon the Obligee's 0creptauce or the hid handed Ill-
tile Surely, the Surety may in its sole discIr'60 t cancel the nnnd after the ObligAe *s acceptance Ar Qte (rid; 21 Take such siep4 as till, Surety nmv dae,a
ncceasay to l0'orum star it olf a tdi rharge Gem Any flood laid front any and All liability sr Loss by reason thentof; J) Fall in any blmdci; lots harotn or
in any nonsiz. killed hereunder and correct illy errors m nny Benda; rodily any Bond or other dAeurnent, whether " spillied by a0 i)bdigne ur other•
wlsa, pill)" m axucuting. such &rod or other diacun+euL: and assent ill A, Any chnngle whatnnevel to Any nunds and/or in cantrarts referred its is such
Bands, andAtr in general condition,• plans, anti slMirications !ncorpur red in such cantrnets, incfndin," but lint limited. to ally rhnnt.e in 11m time fur
tilt canipfeli00 of said contracts; hl vaymencs Or advancers on bonded contracts before the same luny be due, c) any assignment, including inhiug ola
assignment, nndnlr d1 exenLLe iw• nss¢n1 to tin axecui.irm sal) any c"ntinuntiAas, e.,xtcmgomoa, renewals, at ntlificabans, and/or substitutes for Any Bonds,
lvith live sane ur different candiiinne, pnn,unons, nbligues, and penaltios;. >I) runrontee loans or Other extensions nr credit tit, or to advnrlce ur lend
ni otvy to any hldennitnr, as Low Surety mny see fit, without env Obligation Art the Surety to sac• to tilt proper applirattiun of the prucead:; of such -lend
antaes, bons, and Adwnnres. 51 Determau whether Any item of LASS Shall ix paid, sAttte:d, r_nmpromized, resislud, defended, or appealed it nil whether
'illy effort t0 remover Lnssva; shall be undvmakon• settled, cnanprumisod, prosucuued, ar aprKlalei; And the Surety shall have, Lbe right III incur curb
expense; tared to rtleelve rcimbursument therefor from the In +lermitot'st in handling it lanai: nr recO%'u" As it sllan deem nflcersary; and the Surety ,hall
have the Foregoing rights rellardless of w'hethor the Undersigned finny have Assumed or ofTerod toao)arrne the defense nr prnancut.inu ormly stem nrl.ns
nr recovery. .
B. The indetantiinrs Individually 'Ind collectively hered!v irrevocably noa/inote. rn I5tittmC, nppni+a. And dl: ignnLa the Sura!e a= 11wir AtTarnry o. F;Ict
with fill) proor, noth n.e. uti right.. It, To exercl -all oftbe ntiht +or the Principal rood Indeitnitrie which niny e 1 Oil, tiurrt - n d m "(1,Q1 i . ry p ot i eptrm nt: 2, fn unnaferrrfl
11,inrne chfs,l,j, of nthel in?.rrumt.nu; or s.ecuriti -s a„ het, „dl r,( and n. :h•. uatru• r,f rho
loci p'tl mil hit! , L r ua I i, In I.hf- to o, of It,,! Pnnr,pa! :Aid' it hod"', flit x15 In nani ex9rntn And dl-, h.trr anv and { i ire , . ,ts doc,imcn ta,
1. papotc ;10011,1111i, . but nn 1, Amt rl to r':Cf f,h "_, +rind n ticoai it led Nitre. airy bt• tilt Sunlit ul Eire full efrcrt to nut ,0 .ill nl't P.O ,igilt :. pnwcrt,
,tor prare�n0n, nttlandcri lo Ise gtvcO Lo she Surest• under A'1 of olit prnvitiinns of this Agree.tnenl.
C. The ind Inntlnri lath act.,n elydre. and agree iilAf. I' The Swity -aria Ii Ira,,, ever,, pia, :nr, right., rmncaly. nr de`ense ,,hl oh n err :r 1 'blot, a „kit.
nut cnnlllcl +satlnn wnuhl hove, saw ludo, Put not. boosted to Ow right of eznne•atinn Anil the rant in seek or "Mure ll, disahartt a:: it Sorzty, 2, Mw I o
hihty o( lb It demnnnrs shall be rinistlm4d aA brnndil t_ Lhe habits of A cnmfnlnsttad SUruix to an ( )bugle.; ;li In pJI111Cling it,eif gtmu i any
l ^Sur <tt ,rt ass,lptiot stall
lie lib -gated ill all tau I eo r. +, n} ht , irnled,os:, all,i doG t ;e• of Qtn laldemn,tar�, d1'rile } n el-; right -• remed,n=, and
dtfruse, to w9hich ,!u1 urrty illy hi. subl'a solid nr wt, it h the .Ati-ty might nthorwre Lae.•, ncgiar”, exercise, and elifmro ah;t!I urn n, nny lynx Ltc Iim
iced or abridged Ih.. Uri A nyou.ent tine ht Lhe rCeCpwere of.tole ant nlnnt inr any Blind nor he any Alrrf:cnrant. l” sal he! r. u,'il,} n (ir Lilo i,rr,:p•
tuner Orr V , Ccui)t nor Iry rit h4AUnt w anv Oct of nut, hhd•nn i tr or any pet >on Ictleg m h01"Ir t ml fnrif:n nn.nr: n,a 41. ll ,.hie attelvment. tmpoae
on Lhr Sit. cal sty li dAlity Usal. it wnald not fiat,, h.ul were lists A_rcement not uxe•rut -d; 5) Suroty moy take Any Act uln afiurded to it It,; ynntute, tiny
tats. udlcial nrntt; r• an;• other Legal prnvisum authr,ri..i n;:_ it ru make itself w•hnto front hnss: and iii Suroly'a pnwi!rr,, nglus and rumodiec• whether
granted horourdm• or by operation of Idle, shall law cunfulOSve And nmte shall preclude or diminish any n:?iec, and Surt>ty's nrnrenrin :t in ;uiv manner
;loll raft per n amt, its, right ell r me h n a dm k r h6 0 - to uee o It r,u; eat neik, :et .r IAter stair sr, ultt 1 ! :.
D. t!ti,i re- I r. 7 ill riny nnc! Ali Jt. Ile power, pawer, L ranted t - the Sure j,., fit- ilus Agrennheot whcthrr in thin -CUlar nr Aliew•Ii re 0l- by oprrotinit of low: 1:
The curet} ar )! apfo sat tgant.s ithnill.cnn.enlof the In I ❑,Ana.. and maydeb gate io,.uth agvnlsor nntninees anv avid All ofto,y r.r and author..
n ail 4lurly; and ) The Irdemniturs hereby p" r( Surety thar till, Suety anv ay darn. 1 LY gn
,.d t.ht tndcailiilr la: ni than sir a•i,r n - tha¢ MS the. fact that' (W The iurety Lliind tr. eater cr.e Any ,r I I I If u_, n - •, c or foiled el-.
everrke ap prswer I,, r. (uric 1. f,xttnL it. might i:avt ht The So ret � act, or a i4 lnl. - t rr red with any t.nu.rA.L n'' Ow Pni.rowd 0,r tfaa,at rho
reputation or finttni al crnrtittan of Any indeniniu,rur 1115 hnxtnct;. , fir (v! T•hr tiu,r.,.y .. ur,ts nr nnli4sinns inrrrnserf t_he life uhtr ni'ihn loll +:motors here
wider be. rnd what. Lhr. Indeninht. ors ur nun• of then might , un.0ier sae; o >,ury nr rca,onable -r JI.YoUd hot nny ,I th nt might t t , i. i ,oat - u sae
arid tie In i 1. Rite air"rding)y rnuft, and cunGnn all aetonni and efnuxcs f ocainn till n by site Status} air im -g :n io „ „f f.,i.h j the p( .•
grnntrd herein car nrberwlst and hei'ehv reiea<e find discharge rho Suhe,y And it nbent_ n, >m any And 811 hand,ty Lhe.re<fnr
V1. ,JEOPARDY POWERS. A. The !ndenutlwrs hereby nurhmize And empower the Surety, tit it, option and in 1LS Sole dtacrPti,ol, Ill Lake any or rdi
vl the rnllo,ving actions upin the Occurrence of a Jeopardy Event As def,ued in B beluiv: 1) l.rftuidate and apply any or All of uch funds- or c 11raterril ass
may be deprritrrd trill, r+P in the po_,essinn nrtlie 5ur,>i;' In the i :xtllw nrtte Swet•v'S Gl =st_; 2) Enforce the Security Interest granted Ill, rV.A above;
3t Take m•er :only part or all of the w•nrit tinder Any or :dl bonded contracts and coloplote or orrargt for the completion, sat .uei! ,anfil nr alder easy other
cnii "a available under thc. Band or by nperition of I :ley for litschar;,,ing nny performance nhiigntion of Lhe Surety; 4! Take posesainn of anlUur Utilize
Amy or all of the iieols asig,led in the Surety under N.B. ahovo; rout 51 hmnediately c_nmitrace or intcrwenv in any Icga! prrcecdings a; dt!erned live,
es :,arc it ;r11plrapn8te t:y Lhe Surety to enforce thi, Agreeniew. Including halt mot lirnitud to prv. ^.eedin_e, to recover L:us ss iYr;nh ;.ii.'. h,rr mriu,i- rU• any
d of tn„m Or, to the oy + sat t.!le Sur t v is submit lie 1 to mil- ixn,+ r s, r i ht.a. ren a e4, or ik t ilea or t! < Ltdemriinra oral ;y i iltrm undr: R' l ,d,nvr or
fit a,.er ;.tiui of Las,'. Pr icOrJing. o', n,-id n. :null, ? „oars so or f,nut third
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5/24/2011 Item 16.E.10.
$ \ hvgaril\ Y, em t; any td'tbe i'o;lanrrtg. ny cnmhttintiun dier:sd. 1 Future to pap pralrtiu 'hen due; 2l Thy ntrcurr•�rxf if a h is deliurd
ii. ILA. and fl t, an t)utugh lbL Ltdrmmturs rr...v dtaputa life alleged ,ten of tales; 4. Any broach nJ , .rs.Agrcament by rho lorlemnit�rs or nny of thr,m,
im lu <liir); lief ,vtt bnuwtl u> anv failure tochtnply \with the demands andlnr. dirties )trade Or imps =lid under fish, I11, or h!, above: d 1 With re lx!ct as anv
ermined, wheflwr handod III, Lhe Surety nr not, fat n broach nr delay, stispunsion, or cebsation of worl; by Lhe Pri ncipal, fbl a dwaarltwn of drfanh., rr
intent to default, i V Piny Obhpuo. mvrror, arother contracting nuthnrit)•, nr (c) Out riling of any lions or attested accounts againaf the Prinnpal: Si An
misuse, lIn rV licaclnn, To,onment, ns diversion from one contract to !"'Other, prior in the complete discharge of the. Surrey, of nny ni the item
deserihrrl m ft' D. I Ahnvr Ar of c,ntract funds us ,leftned in IV. 0.3 abnve: or the nevurrunco of nny evonc which deprives the Principal art),,? nisi: of
of flu•'tom; euunr wituld in 1V.1),!; III, Tha (nature of for Indafnnilors or any or them
to
noel to any faihtrr ter pay taxes or file returns therefore; 7) The lapse ol'nny Insurance cnverags required under (Less; Vf The (fling or any sett agtinct
pay Irills rr nLher indahtadnaas when dun metudnig but out liar
the htdrmnitor6 m mty of Ihmn; 3l Any detarinrntian in tltL finnncinl condition orally Indemnitar or any diminution in value of nny cnllntord held Le
the Surely or of any prnpariy or asset,; in which the Surely line a Security (merest hercundrror the disposition by any fndoumitnrnf prapurty or
m "elation of IV.A.I: 10) Aqv of t.hc Indrmnitore become sfdrfect to any agreement or proceeding nfsale, levy. execution, cumpn.iunn, insnivency, Imnk-
ntptcy, receivership. trusteeship, asstgument for the 1x +naFit. of rrnditnru, dissolution, or liquidnfton; ll) Any tndemnitnrm any ofiicrr or ivy per, Ira, of
III F'rintipnl dies,
16 nrtiudged inrurnPrlent, in convicted or (shiny, bneomos o fugitive from Justice or disnppcara and umnm Ge 1nr tad et any address
nr phone numhor „Iran to the Surety; nr 121 Any material change in the Aair it r hip nr froi ngament of tha Principal.
VII. GENERAL PROVISIONS; A. WAIVER OF NOTICE. "a Indernnitors hereby waive notice of, among Other things; I t 1 the aceeptrin«, of tbis
Agreement; (21 the Tssimnee of Dands: CI) [fly Jeopardy Event, or of }ter act, avert, or occurrence which mi ht
caning to Lhe- notice fir ItnOwledga of the Surety tnmtxaraing or atrect'!ng its rights or liabilities or the rights or liabilities of any or all of the IndeufnitArs:
g give rice to a Lisa: i i a any nyfnnnaf inn
(5) any ndvnnce of funds to LI!P Principnt from the Sut•ely :(Gl any infnrnuttiun About file Principal which comas to itte not Or-1 or knawlr file
of the Surrr;y,
evau thnugh such in ,;tIrkj might materially inereaso Lhe rink Beyond that which rim Indefunitors, nr any of them, tight have inutntlyd to a<smm:.
ant! even thnugh the Surrl}• may have reason to bdirve thin sash infunnatlnn is online +wn W the Indumnilnrs and may hove had a r.•, $ormolu some,
,fain• to cnnununi.•:ur sorb infnrmnumt In the htdnnmitnrv; n: wu11 as Aal:ice of any other act, oecurr'ence, event, or fact to for cad and effnih. thal, the
Indeinndars shall lira and continue linhie, heroundur mm�vithst"nnding any notice of any hied to which they might here herm or tee enhtlyd, and nntwith•
standing any drfonses dtcy might have been or Ix: entitlad lu malt,, ar i>fnvrrs or rights they might have been or hn entiAed to rxnrcrse
ar
B. t, WAIVER OF EX tIO an C) i FRDFI du - CUTJON, The Indcmniturs hereby waive, su far or their res
+try cnneanllu all right of Aqv equit;Y of redemption and alt rght to claim any' of (.lour property, including their respective homestead;. as exempt from
levy, rxtrution. aaln. or other Irgal Process under the lows of ally Strata, Tarriln (give obligatlnns under thi> Alpro+:ment
4'. or Possession.
C. RELNSUiLtNCE. If I.he Suraty proeu TO; all Other compnn l• nr cuntptmies to execute or to join with it in oxecirting, co•'
linnfl$ for the ! ?r nnpnl. thmt the terms and renditions of this A{nR rumunl ahnll apply to and aprrnlP for the henPfrt of $ueh mien• enmpam or
coot ?,i -
IDa11rIrYQ nr reinsuring 111v
I ate, its in their fit Su *ors tad assigns,. en its to give to it or them a direct right of aenet( aganst the Indemnitors to unirrrr•c this Agrr:•rmm�t. regfud
I of ,whet h.!r the 3uroty iuull'executt•n or reLasns Aqv portion of the nblignuans of such Bonds. In -such nn event, cite .void "Surr.Lp ". wh.?rever u-••d
m this in$trnmuot, „boll he cimstrnrd m include ,:ueh company or rt ngtlrrtiex, as their respective )ntrreats 1712 }• appear
D. INVALi DITY, 11 :,rev court lodrlS t.hnt a pnrtron of thin. Agreement fa wind or unenfnrcenble . then thnL rumion shall be cnns,dernd rinletrd n, tbttI
court'; jIIif, Aif,un !but. not m other pu'ieJ)cl.ernt, Such a hoiding, however, shall net vitiato LIP' entirti Agminnent.: and at) other Pnrluuia and lirovi,
.�rufs of t.if(a :Igraamunt ale ll remmu rnfa,'citable and $hull endure in full force and efrecL
E. MODIFICATION. Thif .lgnrmeut n+av nut he changed nr niedified urnll.v or b) marking. erasing, nr nthm n•isr Phy:vcall} nhering this instru
mem. No ehnolle ar nwdif,0.1 nm shall h, 4fecLivs unless specifneallp agreed to wri Ling in nn inctru rnent. +which incar7nPhies taus aherr n th by rrtirr-
enlcr and whirls it. axrcuted by rill rreco;.,nry parl.iiv? with life .,now linnnnlitics ar, this instrument.
F, mo,,ni , I;),ES. The. (nrlenmitnra m,eb aclsnnwledge, repr'rsent and wnrru)t , that: 11 This Agreement arid nny Bond Issnt'd in consequ+'ncii of ibis
Agrocmrnt. is tar Ihn ., l Itrnadit ofoach and usury Indemnitm• and the "Pecitd bruafit and protection of the Pruprrt}� oil each and every Irdrrnnitsv,
I,n\c a \rn1Yt or hrranftt•r acgwrud. inchiriinr; any And all income, rruninga, and incrua m thrrofrom; 2) Any Band Issued nr ronx:qurnce of the
Atp'L+L'mont is (ur baainea6. Anil not parnnnal, purposes in pursaing a business trtlrlSactran; 3) Each and every Irldemnitar is specially, sll rintiAly, and
Indai moll interested in Any Blind fa;urrl in rnnsrtluence of this Agreement; and 4 i All disclosures, whether oral nr written, merle to thn surety I,y the.
fndomuiturs fit cmuwdinn with the rua,nd,ian or this Agreement. or Lim innnunrive of nny It P rk• rnrn truthful and complete and Lhr. lndemnitnrs hove riot
flitted to dii;close any mfarnud.um which might be re)evortL to the Snretv'a daeision la aseeutr. this Agt'armenf or ui issue anv henrls
C. RL °I "ES OF CONSTTIUCPION. I r'17fis Agreement shall be governed and interpreted by the laws ni'the State of Uhin 2, H ?hcn:vm' ust!d in tl,i
A),•rw:munt, the wun{a'latlmm�itur" nr'indeIAnjI.r , ah,•ays include the Principal; and as circumstnncca may require, the plural refers u, the sinP,nlnr
And vice versa and life masndine candor refers to the fernininr or nautor genders, as nppmpriatc, and vic,; versa.
VUL TER51TNX190N: A. Any Indrnutitur can lerinionto his liability under this Agreement with r(Isp&[ UP future Bonds executed fill, the Principal
(other than those described Ixdow in 1) by sanding written notice VIA certified or rof,•istered mail to the Surety's home offira Indicating this lndummtor'e
Oil dLSire to torminute, )toil aurh termination shall hmome affective nn the thirtieth day, falinwing Life Suraty',: receipt of the Lttdennutor's notice, Proviit-
po however, r that: h1 i gTermination uri w $hull not A)tamtu to modify, line. diach;lMs, limit, affect, or impair the lndmnnitor•'s Laliilh,y or file Surety'; rights nr
Rowers under this Agreramm. with rrsprct W: (a) Bonds executed or :nithorizod prior to the effective date or t en,inatfnn. and renv%yal.. exl:!nsitnt::,
mndifrrntians and substifutionr• thu um' (h) bonda'excentea pursuant to a hid Bond executed or autlinrired prior to the i!fieelive dnGr of trrn:innuan,
and renewals, +)vicnsions, mortification$ and a.ubstitotluns tllereOr,, and (U Any rnaintennnea. warranty, or guarinh!e Bonds ecernfeif ," Of vnt;tl li nny
nthrf Rand exLciued prior to "he ""celive date of termination, find ronnwnls, extensions, And substituOuns thereof; 2) Termination of nor! fir ally carn-
himttion of Surety shall net r 4pil ii to nsndit }•• liar, discharge. limit, affect, or impair the eblignlimia of an.y ntber' indcorniton: who have )tots pivot
anttce Uf the SnrrL }• in Utt: manner sPrtrified above.
A /firThe lndemnitnr, acknowlndgo that tarnyinnlinn of mty one of there may advarsrly are the Surety's' willingnr =_s to execute Rinds far the Priori ?nl
cause the Surety to deem itself insocurI ; find, therefnre, the Indempitors individually and enllertively agree not to main any claim or hrinl, in), actinu
nr raise any dafenna against Life Surety whieh is premised upon the termination of tiny lnderrnitor or ctnnbination of hulenruitor,.
Z':!5I L4, SURETY DEFINEN): INDENTNTTORS' REPRESENTATIONS: A. Tire word "Surety" as used horrin shill mean any $nrety c,tnp:u,y i,• cum.
ln,tn,rs issuing Dnndi.W in favor of the pnncipal, including, het not Iimited tn. Century Suruty Company. Cunitnenial {ierii»tg +r huurnnce, r,y,,;pa T
Everl?rcen Nutionnl htdmnnity Company, Gulf Insurance Cotnpan }', Select lsuri Lt. Company and Republic ft_itern Insurance Company.
II. THE 1NDE�lNI'I'OItS REPRESENT THAT THEY HAVE liNO%VLEDGE THAT EVERGREENII)XI, ACTING UIREC"FL'i PI; TidD RECTLY
THROUGH ITS AGENTS A10 PROnUC1?RS, ACTING ON BEHALF OF Viu2IOU8 SURETY COMPAN1rS'I'HAT NL4Y ISSUE OIIrR fJlt MORE
BONDS FORTHE BENEFIT, AND:1T "rHE REQUEST OFTHE PRINCIPAL; TIiATTHESAID SURETY COMPANIES RE:QUI11E AND Alit RELY.
IIJG UPON T1fE EST CiJT'ION aSNi) fJELtVER }• OFTHIS AGRZENIEf,Pf AS A CONUITION OF BONDING THE P1tli�C1PAL; ITTAT'1n}tIS :ML'RLE-
11EE!IS11JlTO GIVENftl" i'} IEINf)' idNITORSFORTHEBENEFIT' OF, WYA NDALLSURL•' TyC:OMPANIESPTIOCURL•'DTIiiI.Oil EVER.
C:ftL•'E110EM Ti? DONfI'1'AE PRINCIPAL. THE INDUNINITOR.S HEREBY 1VAI \?E ANY AND ALL LEGAL OR EQU1TAtiI,E 1)L• "FtiIJ,SrS I'0 TI
ENFORCEttENT OF THiS AGREEMrNT BY ONE OR MORE OF,I,HE SAID SURETIES FOR TI'ITi REASON ThfrlT THE SAlU SURf•"17S 4.TIIF
COT FPL' FULLY IT A11 NA,aNT IN THIS .FiIU,%,1 ANID TILE TNDEIVINIT01i3 FL'RTITi It REPREa^Ei\,T'f0 THE Sl)tifil l' TFI 1 "Pit),}" fi.11'E
CA Y LES f't READ O1f1S fiNTtRE At;REEtIE I' ANU TiIAT THCXL APE NO OTHER AGREENIEN'l:y OR UNDERSTA.?'F,7TYv ,ti tVflit H IN :1;d1'
u'Ati' i IiSSEN OR SIC)DlFY'I'HE 11RIAGATIONS SET FORTII IIEREIN.
titiT:>;iiC}, SI'ALED;YNn 11ATKI) ; ufthis _7T.f1_ or Mt•�3,�__._ 7009
INSTRUCTION','- A uthnrirvd Ofr,f. moat sign AtUxii Corporate rt .olntinn granting ;ueh authortt) foislgn, All crkhnlders mutt sign a nrl::'ithral
tndi n nsLors. If Y, :fee a Cf,rpnr•tl.i f if C'nrPrn',ue Suc.rutniy shout l atl.est la Prumdetu.'a, rittnnutrr..
PRINCIPAL
Complete this trio f ii yn tt�re a Corporation or u Pnrinership, Complete this bInr-Ii )f you aro Ott Individu.L1Salc Propriatnrsh)p,
Surge Solution ; rPt
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