20211217_Bond_Redacted

SW ISs Re North American Specialty Insurance Company
Washington International Insurance Company
Corporate Solutions Westport Insurance Corporation
1200 Main Street,Suite 800
Kansas City,MO"105
PERFORMANCE BOND
KNOW ALL BY THESE PRESENTS, that we, BWI Yancey Stone LLC , as Principal, and
North American Specialty Insurance Company , as Surety, are held and firmly bound unto
Stated North Carolina Department of Environmental Quality Diviston at Energy,Mineral,and Land Resources,as Obligee,in the penal sum of
Ninty-Nine Thousand Five Hunder and Zero Cents Dollars($99,500.00 ) for the payment
whereof said Principal and Surety bind themselves,jointly and severally, as provided herein.
WHEREAS,Principal has entered into a contract with Obligee dated November 15,2021 for
Mining Reclamation Performance
("Contract"),which is incorporated herein by reference for the
limited purpose of defining the scope of the Construction Work.
NOW, THEREFORE, the condition of this obligation is such that if Principal promptly and faithfully performs the
Construction Work, then this obligation shall be null and void;otherwise to remain in full force and effect.
IT IS FURTHER PROVIDED,that:
1. The obligation of Surety under this bond("Bond")shall arise only when all the following conditions have been met:
(A) The Obhgee has fulfilled its obligations tinder the Contract;and
(B) Principal is, and Obligee has declared Principal to be, in material default under the Contract for failing to
perform the Construction Work("Principal's Default"); and
(C) Obligee has terminated the Contract and notified the Surety in writing of Principal's Default
and such termination;and
(D) The Obligee has agreed to pay the Contract Balance,in accordance with the terms of the Contract,to the
Surety or to a contractor selected to perform the Contract.
2. When all the conditions in Section 1 are met,Surety shall have a reasonable period of time to investigate and elect at
its sole discretion one of the following remedies:
(A) Notify Obligee that Surety elects to complete the performance of the Construction Work through contractor(s)
retained by Surety and then commence such performance with reasonable promptness. In this event, that
portion of the Contract Balance as may be required to complete the Construction Work or remedy Principal's
Default and to reimburse Surety for its expenditures shall be paid to Surety at the times and in the manner as
said sums would have been payable under the Contract to Principal had there been no Principal's Default;or
(B) Notify Obligee that it elects to arrange for a contract between Obligee and a replacement contractor acceptable
to Obligee, such acceptance not to be unreasonably withheld, guaranteed by both contract payment and
performance bonds provided by the replacement contractor in the amount of the replacement contract. In this
event, Surety shall pay Obligee that portion of the cost of the replacement contractor that is in excess of the
Contract Balance. Such payment(s) may be made to Obligee in a lump sum (in the event of a lump sum
contract)or periodically as incurred by Obligee;or
(C) Request Obligee to complete the Construction Work. In this event, Surety shall pay Obligee that portion of
the reasonable cost to complete the Construction Work incurred by Obligee that is in excess of the Contract
Balance;or
Rcv.OV2020 Page I of 3

(D) Arrange to give assistance,financial or otherwise,to the Principal to assist the Principal with completing the
Construction Work. This remedy shall be subject to Obligee's agreement, which shall not be unreasonably
withheld. The Obligee shall pay the Contract Balance as directed by Surety. In the event Surety provides
financial assistance, Surety, in its sole discretion, may upon written notice to Obligee cease providing such
financial assistance at any time, in which event Surety shall immediately make a further election under this
Section 2;or
(E) Notify the Obligee that Surety denies liability. Surety shall cite its reasons for the denial of liability;or
(F) After investigation, determine the amount for which Surety may be liable to the Obligee and, as soon as
reasonably possible after the amount is determined,make payment to the Obligee.
3. After Obligee has provided Surety with written notice of Principal's Default, and before the commencement of
work under Section 2,subparagraphs(A)or(B),Obligee may,pursuant to its Contract rights,mitigate the damages
caused by the Principal's Default. If Obligee performs obligations under the Contract during this period, Obligee
shall be entitled to deduct the Mitigation Costs from the Contract Balance. If the Contract Balance is exhausted,
and Surety elects to proceed under Section 2, subparagraphs (A), (B), (C) or(D), Surety shall reimburse Obligee
for the difference between the Contract Balance and the Mitigation Costs incurred and paid by Obligee.
4. If Surety proceeds under Section 2,subparagraphs(A), (B),(C),(D)or(F),Surety may also advise in the notice of
its remedy election to Obligee that the Obligee's claim is disputed as to liability and/or amount and Surety is
proceeding under and asserting a reservation of all rights, remedies, claims, and defenses. In the event Surety
prevails,in whole or in part,with respect to the dispute regarding liability and/or amount of Obligee's claim and
Surety paid monies in excess of the funds paid by Obligee to Surety, then Surety shall be entitled to recover the
excess from Obligee.
5. Surety's aggregate liability under this Bond is limited to the penal sum of this Bond,regardless of whether the liability
arises from the actions or inactions of Principal or Surety. The penal sum of this Bond shall be reduced by and to the
extent of any and all monies paid by Surety under this Bond in excess of funds paid by Obligee to Surety. If Surety
paid monies in excess of the penal sum of this Bond,then Surety shall be entitled to recover the excess monies from
Obligee. The Surety waives notice of any change to the Contract.
6. Definitions:
(A)The phrase"Contract Balance,"means the total amount payable by Obligee to Principal under the Contract
and any amendments thereto,less the amounts properly paid by Obligee under the Contract.
(B)The phrase "Mitigation Costs" means the cost actually incurred by Obligee in proper performance of the
Construction Work. Such costs shall be at hours and rates not higher than those customarily incurred at the
place of the Construction Work unless Surety provides its prior written consent.
(C)The phrase "Construction Work"means all labor and materials necessary to complete Principal's scope
of work under the Contract
7. Any suit or action by Obligee under this Bond must be instituted within one(1)year from the earliest of the following
dates: (A)the date of substantial completion of the Construction Work; (B)the date Principal ceased performing the
Construction Work; or(C)the date of Principal's Default. If the limitation period set forth in this Bond is void or
prohibited by law,then the minimum limitation period available to sureties as a defense in the jurisdiction of the suit
or action shall apply and shall be deemed to have accrued and commenced to run on the earliest of the dates
referenced in this Section 7 (A), (B) and(Q. It shall be understood that in no event shall punch list,warranty, or
maintenance work constitute Construction Work for the purpose of determining the limitation period for filing a suit
or action under this Bond.
Rev.04/202U
Page 2 of 3

8. No prejudgment or pre-award interest may be recovered under this Bond. Post judgment interest shall be calculated
from the date of the entry of the judgment, at a rate equal to the weekly average 1-year constant maturity Treasury
yield,as published by the Board of Governors of the Federal Reserve System,for the calendar week preceding the date
of the judgment.
9, The Obligee is the sole beneficiary under this Bond. No right of action shall accrue on this Bond to or for the use of
any person other than the Obligee. This Bond is not transferable without the express written consent of Surety,and
no successor or assignee of Obligee shall have any rights under this Bond. Any suit or action under this Bond shall be
instituted in a State or Federal court of competent jurisdiction in the State in which the Construction Work is situated.
The validity,interpretation,construction and performance of this Bond shall be governed by the laws of the State
where the Construction Work is performed,without giving effect to the principles of conflict of laws or any provision
contained in the Contract.
10. Notwithstanding anything in this Bond or the Contract to the contrary,Surety shall have no liability to Obligee for:
legal fees or costs;any form of consequential,indirect,punitive,or exemplary damages;or any liability of Principal for
tortious acts,whether or not said liability is direct or imposed by the Subcontract or otherwise. Nor shall this Bond
serve as or be a substitute for or supplemental to any insurance coverage required under the Subcontract.
11. Notice or demand given to Surety pursuant to this Bond shall be in writing and delivered to the following mailing
address or email address:
Swiss Re Corporate Solutions—Surety Claims
1200 Main Street, Suite 800
Kansas City,MO 64105
SuretyClaimsNA—[e-mail]
Signed this 15th day of November 20 21
BWI Yancey Stone LLC
Principal
Name:
Title:
North erican Spa Ity Insurance Company
4JoseS rety
Willi Attiarey-in Faci _:

SWISS RE CORPORATE SOLUTIONS
NORTH AMERICAN SPECIALTY INSURANCE COMPANY
WASHINGTON INTERNATIONAL INSURANCE COMPANY
GENERAL POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS,THAT North American Specialty Insurance Company,a corporation duly organized and existing under
laws of the State of New Hampshire,and having its principal office in the City of Kansas City,Missouri,and Washington International Insurance
Company,a corporation organized and existing under the laws of the State of New Hampshire and having its principal office in the City of Kansas
City,Missouri,each does hereby make,constitute and appoint:
STEVEN L.SWORDS,ANNETTE WISONG,JOSEPH R.WILLIAMS
SARAH HANCOCK and KATIE KLEINSCHMIDT
JOINTLY OR SEVERALLY
Its true and lawful Attomey(s)-in-Fact,to make,execute,seal and deliver,for and on its behalf and as its act and deed bonds or other writings
obligatory in the nature of a bond on behalf of each of said Companies,as surety,on contracts of suretyship as are or may be required or permitted by
law,regulation,contract or otherwise,provided that no bond or undertaking or contract or suretyship executed under this authority shall exceed the
amount of: TEN MILLION($10,000,000.00)DOLLARS
This Power of Attorney is granted and is signed by facsimile under and by the authority of the following Resolutions adopted by the Boards of
Directors of both North American Specialty Insurance Company and Washington International Insurance Company at meetings duly called and held
on the 9th of May,2012:
"RESOLVED,that any two of the Presidents,any Managing Director,any Senior Vice President,any Vice President,any Assistant Vice President,
the Secretary or any Assistant Secretary be,and each or any of them hereby is authorized to execute a Power of Attorney qualifying the attorney named
in the given Power of Attorney to execute on behalf of the Company bonds,undertakings and all contracts of surety,and that each or any of them
hereby is authorized to attest to the execution of any such Power of Attorney and to attach therein the seal of the Company; and it is
FURTHER RESOLVED,that the signature of such officers and the seal of the Company may be affixed to any such Power of Attorney or to any
certificate relating thereto by facsimile,and any such Power of Attorney or certificate bearing such facsimile signatures or facsimile seal shall be
binding upon the Company when so affixed and in the future with regard to any bond,undertaking or contract of surety to which it is attached."
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IN WITNESS WHEREOF,North American Specialty Insurance Company and Washington International Insurance Company have caused their
official seals to be hereunto affixed,and these presents to be signed by their authorized officers this 8th day of OCfOBER •2019 .
North American Specialty Insurance Company
Washington Internatioual Insurance Company
State of Illinois
County of Cook as:
On this Sth day of OCTOBER ,2019 ,before me,a Notary Public personally appeared Steven P.Anderson ,Senior Vice President of
Washington International Insurance Company and Senior Vice President of North American Specialty Insurance Company and Michael A.Ito.
Senior Vice President of Washington International Insurance Company and Senior Vice President of North American Specialty Insurance
Company,personally known to me,who being by me duly sworn,acknowledged that they signed the above Power of Attorney as officers of and
acknowledged said instrument to be the voluntary act and deed Of their respective companies.
OFROAL SEAI
M.NENNY
Notary Nbk,Stated ulam"
My roan .bw. M.Kenny,Notary Public
12M Mf
1, Jeffrey Goldberg , the duly elected Assistant Secretary of North American Specialty Insurance Company and Washington
International Insurance Company,do hereby certify that the above and foregoing is a true and correct copy of a Power of Attorney given by said North
American Specialty Insurance Company and Washington International insurance Company,which is still in full force and effect.
IN WITNESS WHEREOF,I have set my hand and affixed the seals of the Companies this A5±darof Nmember ,20 21 .
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