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HomeMy WebLinkAboutT-5377 - Cashier Memo - 10/23/2006 City of MEMORANDUM DATE: July 21, 2006 C;` TO: Rose Saldivar Public Works Department FROM: JONATHAN BARTEL Planning & Development Department, Building and Safety Services Division SUBJECT: SUBMITTAL OF SECURITIES FOR TRACT NO. 5377. ATTACHED PLEASE FIND THE FOLLOWING ITEMS FOR TRACT NO. 5377. 1. Check in the amount of$290.549.65 (Bank of America No. 840163) 2. Certificate of Deposit in the amount of$100.000.00 3. Performance Bond in the amount of$1,896.000.00 4. Payment Bond in the amount of$998,000.00 5. Copy of the Subdivision Agreement for Tract No. 5377. The total charges are more particularly itemized in Exhibit "A"and Exhibit"B" of the Subdivision Agreement. If you have any questions please contact me at 621-8076. Thank You Jonathan Bartel N N — c+1 7 O c+m 1 �D O �D oo ,n O [- [- O c+1 mc+1 M �O �O 7 N o0 �n o0 -0 00 00 O O 0— --, M O [� [� N Nl T G\ 00 10 Mrl tom^ [� N til �O r .�. 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N M 'o 00 a N ,n 'oM M M — c, -r o o. -r r+ r o0 Q: lCyf.'.. — — O N d y Cp 07 o_ O o_ o_ O_ o o_ O O_ O_ O O_ O_ o_ 'y d.V d. N - 7 m tl T N O 0 0 o 0 0 o O o o O o O O O o O O O O O O O O O o w Finance Control No. City of Fresno Security Deposit Form To: Finance Department - Accounting Division From: Rose Saldivar- Public Works Department CD X Passbook Other Deposited At: Bank Of The West, Visalia Ca Certificate/Acct. No: 088-878533 Deposit Amount: $100,000.00 Maturity Date: 12/29/06 Depositor: Name: Centex Homes Falcon Ridge 3 Address: 1840 S Central Visalia, Ca 93277 Street City/State Zip Job Address: Tract 5377 Received By: Rose Saldivar, Public Works Engineering Date: 7/21/06 Authorization to Release Signature Date Release To: Name: Address: Street City/State Zip FfNANCE 11SE O�IIrY' AcGepte&'B Name= Date, Released:By: Name-, Data; Typo of.,"Release:.' ailed, Hand"Delivered Date Date, uacknowledge.receiptnof thelaoove�referenced instrument.: Signature: Date Comments.: . BANK31WEST CERTIFICATE OF DEPOSIT RECEIPT Branch Name: Visalia - 00088 Date of Deposit: 06/30/2006 Account Number: 088-878533 Amount of Deposit: $100,000.00 Today's Date: 06/30/2006 Maturity Date: 12/29/2006 Branch Approval: Tiffany Swiney Initial Interest Rate: 4.03 Customer Name CENTEX HOMES FALCON RIDGE 3 Initial Annual Percentage Yield: 4.11 and Address TRACT 5377 FBO CITY OF FRESNO Interest Payment Method: Pay by Check 1840 S CENTRAL VISALIA, CA 93277 Pay Interest to Account #: 000-000000 Interest Payment Frequency: 1 Month(s) Phone 559-733-2717 Term: 182 Days Deposit receipt not needed for redemption. Renewal: Automatically Renew Thank you for opening a Certificate of Deposit with Bank of the West.Your account has been opened for the amount and terms shown above. Any questions regarding your Certificate of Deposit can be answered by your branch or by calling the Bank's Telephone Banking Center(800-488-BANK or 408-947-5030). INFORMATION REGARDING CERTIFICATE OF DEPOSIT ACCOUNTS Minimum Opening Balance $ E,VO. 00 Minimum balance required to earn APY $ 100 , 000- ADDITIONAL 00.ADDITIONAL DEPOSITS - If you wish to add funds to your Certificate, you may do so during the 10 calendar day grace period following the account's maturity date. For= days Certificates, you may add funds during the 1 calendar day grace period following the maturity date. Interest on the additional funds both cash and noncash begins to accrue on the business day you deposit it and at the same rate in effect for the renewed Certificate. The additional funds will mature at the same time as the renewed Certificate. The minimum amount for an additional deposit is $100.00. WITHDRAWALS-Interest which has been reinvested may be withdrawn at any time, if the account term and interest rate have not changed since the renewal. Additional withdrawals without penalty are permitted, during the 10 calendar day grace period following maturity (1 calendar day grace period for 7-31 days Certificates) for automatically renewable Certificates, or upon the death or mental incapacity of the depositor. Accounts closed during the grace period will forfeit any interest accrued during the grace period. Withdrawals at any other time may be permitted at the bank's discretion and are subject to early withdrawal penalties. INTEREST - Interest is accrued on the daily balance. The annual percentage yield assumes that interest earned is reinvested in the account monthly an�aff funds remain on deposit for one year from the date of deposit, and the interest rate does not change. Interest withdrawn during the term of the account will reduce the annual percentage yield earned. TERMS OF 32 DAYS OR LONGER - You may choose the frequency of interest payments. Interest can be paid as frequently as monthly, but must be paid at least once a year. Interest may be reinvested into the account, credited to another Bank of the West checking or savings account, or paid by check. TERMS OF 7-31 DAYS - You will receive interest at maturity only. Interest may be reinvested into the Certificate of Deposit,or as a deposit to a Bank of the West checking or savings account. MATURITY - Automatically renewable Certificates of Deposit renew automatically at the rate in effect on the maturity date, for the same term and un ear tfe same conditions last disclosed (unless we tell you otherwise). We will mail a maturity notice approximately 15 days prior to the maturity date (except for 7-14 days terms). The notice will include a phone number you can call on the maturity date (or shortly after) to find out the interest rate and annual percentage yield on your renewed Certificate of Deposit. A non-renewable Certificate of Deposit will not earn interest beyond the maturity date,and will not renew automatically at maturity. EARLY WITHDRAWAL PENALT -All penalties are calculated on a simple interest basis. The penalty assessed may reduce the balance remaining on your account after the wit dIErawaS 1. The penalty is calculated at the interest rate in effect at the time the Certificate of Deposit was opened or last renewed. The penalties on the amount withdrawn are: 7-31 DAYS TERM - 7 days simple interest lost, 32 DAYS - 1 YEAR TERM - 30 days simple interest lost, or OVER 1 YEAR TERM- 180 days simple interest lost. CHANGES IN TERMS & CONDITIONS - When you open a deposit account with us, you agree to abide by the terms & conditions detailed on this page an in t e ccount greement you sign. We can change these terms& conditions at any time. We'll notify you in advance of any changes that affect your rights and obligations to the extent required by law. You indicate that you accept a change we make by continuing your account relationship with us or, if the change affects your certificate of deposit, by allowing the certificate to renew after the change becomes effective. DISCLOSURE OF YOUR ACCOUNT - Account Information may be disclosed to third parties when it is required for governmental reporting for legal processes, or to persons or companies who the Bank believes would legitimately use such information. Certain transactions are also authomatically reportable to the government. OTHER INFORMATION REGARDING DEPOSIT ACCOUNTS-Additional information pertaining to the rules &regulations governing deposit accounts can e provided if you request a current copy ot the Bank of the West Deposit Account Disclosure which is available by phone or in person at any of the Bank's branch offices. You may also call our Telephone Banking Center and request that we send you a Deposit Account Disclosure. NON-NEGOTIABLE NOT TRANSFERABLE 120-01820(Rev.07/02) TimeDepositReceipt Account Number: 0' $—C61-7`353 Security Amount: loo oca .°� ASSIGNMENT (Subdivision Agreement) SECURITY FOR: hereinafter called ASSIGNOR, whose principal place of business is Street city c State Zip Code do (does) hereby assign, and set over to the City of Fresno of the State of California, all right, title, and interest of whatever nature, of assignor,,in and to the insured account of assignor in the ���1�� , evidenced by Rn the amount of $ ioo too,"" number oW which is to be de vere to the City of Fresno herewith. Assignor agrees that this assignment carries with it the right in the insurance of the account by the Federal Deposit Insurance Corporation, and includes and gives the right to the City of Fresno to redeem, collect, and withdraw the full amount as indicated above at any time WITHOUT NOTICE TO ASSIGNOR. This assignment is given as security for liability for o-- ` ? ---- �- , including interest and penalties, and to insure compliance with the applicable code or ordinances of the City of Fresno, State of California. Assignor hereby notifies the above-named Bank of this assignment. Dated this day of , 20". Name & Title of Assignor FO*R NOTIE .FMREOEIPT T Receipt is hereby acknowledged to the City of Fresno of the State of California of written notice of the assignment to the City of the account identified above. We have noted in our records the City's interest in the account as shown by the above assignment and have retained a copy of this sheet. We certify that this account is fully insured by the Federal Deposit Insurance Corporation and that we have received no notice of any lien, encumbrance, hold, claim or obligation of the above-identified account prior to the assignment to the City of Fresno. We agree to make payment to the City of Fresno upon request in accordance with the Commercial Banking laws applicable to the institution. Dated this 3a day of J'u"e-1 , 2006 Vjank of-4be, CX Bank Name Branch Location City State By 041ul4u �rtfFu �.Swirty Nam Title of Officer Financial SeN Ices p{ j fel Finance Control No. City of Fresno Security Deposit Form To: Finance Department - Accounting Division From: Rose Saldivar- Public Works Department CD Passbook Other Subdivision Performance Bond Deposited At: Armor Assurance Company Certificate/Acct. No: ARM100038 Deposit Amount: $1,896,000.00 Maturity Date: Depositor: Name: Centex Homes Falcon Ridge 3 Address: 1840 S Central Visalia, Ca 93277 Street City/State Zip Job Address: Tract 5377 Received By: Rose Saldivar, Public Works Engineering Date: 7/21/06 Authorization to Release Signature Date Release To: Name: Address: Street City/State Zip EiNA1ICE USS Accepted.Bj.. .Date. Released.By. Kamer pate Type:'of°Release::'., Meiiea. Hand Delivered. . Date," Date l acknowiedge.receipt.af thelia Q e�:referenced insttum-iant: igati�re. Dafie da mi rents: Bond No. ARM100038 SUBDIVISION BOND PERFORMANCE BOND Whereas,The City of Fresno State of California, and Centex Homes,a Nevada General Partnership (hereinafter designated as "principal") have entered into an agreement whereby principal agrees to install and complete certain designated public improvements,which said agreement,dated— and identified as project Falcon Ridge III is hereby referred to and made a part hereof, and Whereas, said principal is required under the terms of said agreement to furnish a bond for the faithful performance of said agreement. Now, therefore, we, the principal and Armor Assurance Company , as Surety, are held and firmly bound unto the City of Fresno , hereinafter called ("City"), in the penal sum of One Million Eight Hundred and Ninety-Six-Thousand dollars($ 1,896,000.00 ) lawful money of the United States for the payment of which sum well and truly to be made, we bind ourselves, our heirs, successors, executors and administrators,jointly and severally, firmly by these presents. The condition of this obligation is such that if the above bounden principal, his heirs, executors, administrators, successors or assigns, shall in all things stand to and abide by, and well and truly keep and perform the covenants, conditions and provisions in the said agreement and any alteration thereof made as therein provided, on his or their part, to be kept and performed at the time and in the manner therein specified, and in all respects according to their true intent and meaning and shall indemnify and save harmless City, its officers, agents, and employees, as therein stipulated, then this obligation shall become null and void; otherwise it shall be and remain in full force and effect. As a part of the obligation secured hereby and in addition to the face amount specified thereof, there shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by the City in successfully enforcing such obligation, all to be taxed as costs and included in any judgment rendered. The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of said agreement or the specifications accompanying the same shall in any manner affect its obligations on this bond, and it does hereby waive notice of any such change, extension, alteration or addition. In witness whereof,, this instrument has been duly executed by the principal and surety above named, on June 30, 2006 ,�quu�u�p VRANr'' `r SEAL : D- (Principal) (Surety) :cr Centex Homes, a N vad eneral Partnership Armor Assurance Company ,.•'� ��' Of By: By:_1 `t / ,��''�N�i�un�►�`���, Shannon L. Demers ,Attorney-in-Fact CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT 140.3007 State of VERMONT County of CHITTENDEN On �v, , lo, ?-CC) before me, AMY LEFEBVRE DATE NAME,TITLE OF OFFICER-E G..'JANE DOE.NOTARY PUBLIC personally appeared SHANNON DEMERS NAME(S)OF SIGNER(S) , 0 personally known to me-OR- Q proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/shefthey executed the some in his/her/their authorized capacity(iss), and that by his/her/their LEFE signature(s)on the instrument the person(s),or the entity upon y -;.••••••'.eI�,Q behalf of which the person(s) acted, executed the instrument. ,T '•AOTARy 's •: WITNESS m hand and official seal. PUBLIC.. � 9TF OF VEI RE OF NOTARY OPTIONAL Though the data below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent reattachment of this form. CAPACITY CLAIMED BY SIGNER DESCRIPTION OF ATTACHED DOCUMENT ❑ INDIVIDUAL ❑ CORPORATE OFFICER SURETYBOND`NO.ARM:10038 TITLE OR TYPE OF DOCUMENT Tm.E(S) ❑ PARTNER(S) LIMITED GENERAL ® ATTORNEY-IN-FACT l ❑ TRUSTEE(S) ❑ GUARDIAN/CONSERVATOR NUMBER OF PAGES ❑ OTHER: SIGNER IS REPRESENTING: DATE OF DOCUMENT NAME OF PERSON(S)OR ENTITY(IES) ARMOR ASSURANCE COMPANY SIGNER(S)OTHER THAN NAMED ABOVE S-10671GEEF 7188 01993 NATIONAL NOTARY ASSOCIATIrAN-8236 Remmet Ave.,P.O.Box 7154•Canoga Perk,CA 81300-7184 STATE OF CALIFORNIA ) ss. COUNTY OF TULARE ) On July 18, 2006, before me, V C Patton, Notary Public, Personally appeared Scott Travis Personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. V!C.M?rON Signature COMM=,t 161IM7 N*W Public.CaNano Ad=Cox* MV CMM-E0rt N0V 21. (SEAL) Armor Assurance Company Unanimous Written Consent of the Board of Directors THE UNDERSIGNED, being all of the members of the Board of Directors of Armor Assurance . Company, a Vermont captive insurance company formed under Chapter 141 of the Vermont Insurance Law (the "Company"), do hereby consent in writing to the adoption of the following preamble and resolutions by the Board of Directors of the Company without a meeting: WHEREAS, Armor Assurance Company (the "Company") is currently licensed in the State of Vermont as an insurance company with authority to issue surety bonds and will be pursuing licensing in additional states .in order to issue surety bonds for the benefit of Centex Corporation and its subsidiaries and affiliates in those states; and WHEREAS, the Company currently engages Marsh Management Services Inc. as its agent to assist with reviewing applications for and issuing surety bonds, and the Company wishes to appoint certain representatives of Marsh Management Services Inc. as attorneys-in-fact for the Company in this regard. NOW, THEREFORE, BE IT RESOLVED, that effective as of May 12, 2006, each of the following individuals is hereby appointed the true and lawful agent and attorney-in-fact of the Company, and each such person is hereby empowered, for and on behalf of the Company, to execute, acknowledge and deliver under such designation: (.1) surety bonds to the United States of America, and the various states or any political subdivision thereof, or any agency or instrumentality thereof, including lease and miscellaneous surety bonds required or permitted under the laws, ordinances or regulations of any State, City, Town, Village, Board or any other body or organization, public or private, (2) bonds on behalf of contractors or subcontractors in connection with bids, proposals or contracts and (3) insurance policies and Certificates of Insurance related to financial assurance for closure, post-closure and/or corrective action obligations; provided that each such person shall not have any authority to bind the Company in any other capacity or for any other purpose: Marsh Management Services Inc.—Texas Marsh Management Services Inc.—Vermont Donald R.Gibson Shannon L. Demers Tannis N. Mattson Jonathan J. McKenzie Sandra R.Parker Edward F. Precourt Jennifer L. Pettengill Lori A.White RESOLVED FURTHER, that the foregoing powers granted by the Company shall be subject to and conditional upon the written direction of any officer of the Company (or any designee of any such • officer)to execute and deliver any such bonds. RESOVED FURTHER, that the execution and delivery of such agreements, bonds and other documents as described above, and the performance of such act or acts, thing or things, in pursuance of these presents, shall be as binding upon the Company for all intents and purposes, as if they had been duly executed,acknowledged, delivered and performed by the regularly elected officers of the Company. RESOLVED FURTHER, that the signatures and attestations of such attorneys-in-fact and the seal of the Company may be affixed to any such bond, policy or to any certificate relating hereto by 41566 1 Consent 20060515 Armor Assurance Company facsimile and any such bond, policy or certificate bearing such facsimile signatures or facsimile seal shall be valid and binding upon the Company when so affixed. RESOLVED FURTHER, that this power of attorney may be voluntarily revoked as to anyone or more of the individuals named above by a written revocation executed by an officer of the Company. • This Written Consent may be executed in any number of counterparts, but all such counterparts when taken together shall constitute one and the same instrument. IN WITNESS WHEREOF, the undersigned have executed this Written Consent as of May 15, 2006, and direct that it be filed with the minutes of the proceedings of the Board of Directors of the Company. Michael S. Albrigiff- Leldon E. Echols dward F. Precourt .•'Q' .p P 0 a °••. .7'% zcr 41566 1 Consent 20060515 Armor Assurance Company Finance Control No. City of Fresno Security Deposit Form To: Finance Department - Accounting Division From: Rose Saldivar- Public Works Department CD Passbook Other Subdivision Bond Labor& Material Deposited At: Armor Assurance Company Certificate/Acct. No: ARM10038 Deposit Amount: $998,000.00 Maturity Date: Depositor: Name: Centex Homes Falcon Ridge 3 Address: 1840 S Central Visalia, Ca 93277 Street City/State Zip Job Address: Tract 5377 Received By: Rose Saldivar, Public Works Engineering Date: 7/21/06 Authorization to Release Signature Date Release To: Name: Address: Street City/State Zip FINANCE USE ON cc. 6d,By: Name, I]ate Released By,: Name. Date, T, e.of Release:: Malted„ Hand:oelivered Data < Date, 1,,ac,knowledge receiptof,the above referenced.instrument Signat�trey:. Date,: Comments.:.: Bond No. ARM10038 SUBDIVISION BOND LABOR AND MATERIAL Whereas,The City of Fresno , State of California, and Centex Homes,a Nevada General Partnership (hereinafter designated as "principal's have entered into an agreement whereby principal agrees to install and complete certain designated public improvements,which said agreement, dated and identified as project Falcon Ridge III is hereby referred to and made a part hereof, and Whereas, Under the terms of said agreement, principal is required before entering upon the performance of the work to file a good and sufficient payment bond with the to secure the claims to which reference is made in Title 15 (commencing with section 3082) of Part 4 of Division 3 of the Civil Code of the State of California. Now, therefore, said principal and the undersigned as corporate surety, are held firmly bound unto theCitiy ofsFresno and all contractors, subcontractors, laborers,materialmen and other persons employed in the performance of the aforesaid agreement, and referred to in the aforesaid Code of Civil Procedure in the sum of Nine Hundred Ninety-Eight Thousand dollars ($ 998,000--------- ), for materials furnished or labor thereon of any kind, or for amounts due under the unemployment Insurance Act with respect to such work or labor, that said surety will pay the same in an amount not exceeding the amount hereinabove set forth, and also in case suit is brought upon this bond, will pay, in addition to the face amount thereof, costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by city in successfully enforcing such obligation, to be awarded and fixed by the court, and to be taxed as costs and to be included in the judgment therein rendered. It is hereby expressly stipulated and agreed that this bond shall inure to the benefit of any and all persons, companies and corporations entitled to file claims under Title 15 (commencing with Section 3082) of Part 4 of Division 3 of the Civil Code, so as to give a right of action to them or their assigns in any suite brought upon this bond. Should the condition of this bond be fully performed, then this obligation shall become null and void, otherwise it shall be and remain in full force and effect. The surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of said agreement or the specifications accompanying the same shall in any manner affect its obligations on this bond, and does hereby waive notice of any such change, extension, alteration or addition. In witness whereof, this instrument has been duly executed by the principal and surety below named, on June 30!'2006: Centex Homes,a Nevada General Partnership Armor Assurance:Company (Principal) (Surety) By: By: '" �Z'�� SSpn L. Demers ,Attorney-in-Fact QUAc�. P fJ qa.. o•,. ,A SEA1, _�. ",- �•a. 1991. r goo.+ ,w'�. CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT No.5007 State of VERMONT County of CH17TTENDEN On 130/016 before me, AMY LEFEBVRE F1,30 DATE NAME,TITLE OF OFFICER-E.G..'JANE DOE NOTARY PUBLIC• personally appeared SHANNON DEMERS NAME(S)OF SIGNERS) , ❑Q personally known to me-OR- ❑ proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) islare subscribed to the within instrument and acknowledged to me that he/she/they executed the some in his/her/their authorized capacity(ies), and that by his/her/their signature(s)on the instrument the person(s),or the entity upon • F behalf of which the person(s) acted, executed the instrument. p�p`RY 4 it PUg .;�p W ITN ESS my hand and official seal. tpTgTE OF.�� -SfG--NATr OF NOTARY OPTIONAL Though the data below Is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent reattachment of this form. CAPACITY CLAIMED BY SIGNER DESCRIPTION OF ATTACHED DOCUMENT ❑ INDIVIDUAL ❑ CORPORATE OFFICER SURETY BON AC.ARM10038 TITLE OR TYPE OF DOCUMENT TITLE(S) ❑ PARTNER(S) LIMITED GENERAL © ATTORNEY-IN-FACT 1 ❑ TRUSTEE(S) ❑ GUARD IAN/CONSERVATOR NUMBER OF PAGES ❑ OTHER: 30 06 SIGNER 1S REPRESENTING: DATE OF DOCUMENT NAME OF PERSON(S)OR ENTITYQES) ARMOR ASSURANCE COMPANY SIGNER(S)OTHER THAN NAMED ABOVE S-40671GEEF 2M 01993 NATIONAL NOTARY ASSOCIATION-8236 Remmet Ave.,P.O.Bone 7184•Canoga Perk,CA 91309-7184 STATE OF CALIFORNIA ) } ss. COUNTY OF TULARE ) On July 18, 2006, before me, V C Patton, Notary Public, Personally appeared Scott Travis Personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. Signature �GY,�f, J c. M (/ m Cai wi# 161W37 a"*County%TjMVC0MM.Mq*4GHM21,=4 (SEAL) . r Armor Assurance Company Unanimous Written Consent of the Board of Directors THE UNDERSIGNED, being all of the members of the Board of Directors of Armor Assurance • Company, a Vermont captive insurance company formed under Chapter 141 of the Vermont Insurance Law (the "Company"), do hereby consent in writing to the adoption of the following preamble and resolutions by the Board of Directors of the Company without a meeting: WHEREAS, Armor Assurance Company (the "Company") is currently licensed in the State of Vermont as an insurance company with authority to issue surety bonds and will be pursuing licensing in additional states .in order to issue surety bonds for the benefit of Centex Corporation and its subsidiaries and affiliates in those states; and WHEREAS, the Company currently engages Marsh Management Services Inc. as its agent to assist with reviewing applications for and issuing surety bonds, and the Company wishes to appoint certain representatives of Marsh Management Services Inc. as attorneys-in-fact for the Company in this regard. NOW, THEREFORE, BE IT RESOLVED, that effective as of May 12, 2006, each of the following individuals is hereby appointed the true and lawful agent and attorney-in-fact of the Company, and each such person is hereby empowered, for and on behalf of the Company,to execute, acknowledge and deliver under such designation: (1) surety bonds to the United States of America, and the various states or any political subdivision thereof, or any agency or instrumentality thereof, including lease and miscellaneous surety bonds required or permitted under the laws, ordinances or regulations of any State, City, Town, Village, Board or any other body or organization, public or private, (2) bonds on behalf of contractors or subcontractors in connection with bids, proposals or contracts and (3) insurance policies and Certificates of Insurance related to financial assurance for closure, post-closure and/or corrective action obligations; provided that each such person shall not have any authority to bind the Company in any other capacity or for any other purpose: Marsh Management Services Inc. —Texas Marsh Management Services Inc.—Vermont Donald R. Gibson Shannon L. Demers Tannis N. Mattson Jonathan J. McKenzie Sandra R.Parker Edward F. Precourt Jennifer L. Pettengi I I Lori A. White RESOLVED FURTHER, that the foregoing powers granted by the Company shall be subject to and conditional upon the written direction of any officer of the Company (or any designee of any such • officer)to execute and deliver any such bonds. RESOVED FURTHER, that the execution and delivery of such agreements, bonds and other documents as described above, and the performance of such act or acts, thing or things, in pursuance of these presents, shall be as binding upon the Company for all intents and purposes,as if they had been duly executed,acknowledged, delivered and performed by the regularly elected officers of the Company. RESOLVED FURTHER, that the signatures and attestations of such attorneys-in-fact and the seal of the Company may be affixed to any such bond, policy or to any certificate relating hereto by 41566 1 Consent 20060515 Armor Assurance Company facsimile and any such bond, policy or certificate bearing such facsimile signatures or facsimile seal shall be valid and binding upon the Company when so affixed. RESOLVED FURTHER, that this power of attorney may be voluntarily revoked as to any one or more of the individuals named above by a written revocation executed by an officer of the Company. • This Written Consent may be executed in any number of counterparts, but all such counterparts when taken together shall constitute one and the same instrument. IN WITNESS WHEREOF, the undersigned have executed this Written Consent as of May I5, 2006, and direct that it be filed with the minutes of the proceedings of the Board of Directors of the Company. A/Z�Iee' s Michael S:Albrigt- Leidon E. Echols dward F. Precourt GSVaANr'MR''` r • yQ(�l EA � F ?mss- •. 1��� �>` Imo, �W 41566 1 Consent 20060515 Armor Assurance Company