20081473 Ver 4_Performance Bond Phase I_20150401

Mitigation Bank Long Term Maintenance and Monitoring
Performance Bond
Bond No. RLB0015961 Penal Sum: $ 100.000.00
Know All Men By These Presents,
That we, EBX Neuse I, LLC of 10055 Red Run Boulevard, Suite 130, Owings Mills,
MD 21117 (hereinafter called the Principal), as Principal, and RLI Insurance Company with an
office at 8 Greenway Plaza, Suite 400 Houston, TX 77046, a corporation duly organized under
the laws of the State of Illinois (hereinafter called the "Surety "), as Surety, are held and firmly
bound unto the North Carolina Department of Environment and Natural Resources -
Division of Water Resources, 1617 Mail Service Center, Raleigh, NC 27699 -1617,
(hereinafter called the "Obligee "), as Obligee, up to the maximum penal sum of One Hundred
Thousand and 00 /100 Dollars ($100,000.00) (hereinafter called the "Maximum Penal Sum "), for
the payment of which we, the Principal and the Surety, bind ourselves, our heirs, executors,
administrators, successors and assigns, jointly and severally, firmly by these presents.
WHEREAS, the Principal has entered into the EBX Neuse Riparian Buffer Umbrella Mitigation
Banking Instrument (hereinafter called the "RBMBI ") with the Obligee, dated the 10th day of
November, 2008, which includes the Bank Parcel Development Package (hereinafter called the
BPDP) for Arrington Bridge Buffer and Nutrient Offset Bank Phase I (the "Mitigation Bank Site ")
where financial obligations by the Principal are explicitly written and agreed upon between the
Principal and the Obligee, The RBMBI, BPDP and Mitigation Site Plan are hereby referred to and
made a part hereof as if fully set forth herein.
WHEREAS, the Principal has received approval of their BPDP by the North Carolina Division of
Water Resources ( "NCDWR ") and that the NCDWR has granted the necessary approval, subject
to the posting by the Principal of this Bond (the "Bond "), to insure full compliance with all the
terms and conditions of the RBMBI and BPDP; NCDWR #t 2008- 1473v4.
NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that this Bond
will not be released in whole or in part until the Principal receives written verification from the
Obligee that the conditions for release in the RBMBI have been fully met. If the above bounden
Principal shall meet the final performance standards as defined in the RBMBI and corresponding
BPDP, then this obligation shall be null and void; otherwise it shall remain in full force and
effect. This Bond is subject to the following conditions:
1) This Bond shall remain in full force and effect for a period of five years. The
Maximum Penal Sum of this bond may be reduced by the Obligee, by twenty percent
(20 %) each year following acceptance by the NCDWR of the Monitoring Report for
that year. Upon reduction, the amount of the Maximum Penal Sum remaining will
then be the Maximum Penal Sum of this Bond.
2) Obligee shall issue a full and final release of this Bond when the five year monitoring
period is complete; all monitoring reports have been submitted and have been
approved by the Obligee; and the success criteria identified in the RBMBI and BPDP
have been achieved and approved by the NCDWR. This Bond shall not be released in
whole until the Principal receives written verification from the Obligee that all the
conditions for release in the RBMBI and BPDP have been satisfied.

3) If any payment under this Bond, as set forth in subsection 4 b) below, is made, then
the outstanding penal sum of the Bond shall be reduced by the corresponding amount
of such payment. Notwithstanding anything contained herein to the contrary, the
aggregate liability of the Surety is limited to the Maximum Penal Sum stated above
regardless of the number or amount of claims brought against this bond and
regardless of the number of years this bond remains in effect. The Obligee shall issue
a full and final release of this Bond and any and all of Surety's obligations hereunder
when Surety has tendered payment in whole, or in parts equal to the aggregate sum,
of the Maximum Penal Sum of this Bond.
4) The Surety's obligation under this Bond shall only arise after the Obligee has notified
the Principal and the Surety of the Principal's failure to abide by the terms and
conditions of the RBMBI and BPDP. Upon notice of the Principal's default under the
RBMBI and BPDP, the Surety, in its sole discretion, shall remedy the Principal's
default either under subsection 4) a) or 4) b) below. In the event that the Surety either
fails to respond to Obligee's notice of default within thirty (30) business days of
receipt of said notice, or fails to honor Surety's commitments under this bond to the
full satisfaction of the Obligee, then Surety shall remedy such default in accordance
with subsection 4) c) below.
a) Surety shall remedy Principal's default to the full satisfaction of the Obligee by
a reasonable date certain set by the Obligee; or
b) Surety shall immediately tender to a party, or parties, identified by the
Obligee the entire, or a portion thereof the, Maximum Penal Sum, that the
Obligee has determined is due in an effort to remedy the Principal's default.
In no event shall any portion of the Maximum Penal Sum be tendered to the
Obligee. Any new party or parties identified by the Obligee under this
section shall immediately become a Surety or Sureties under this bond for the
remaining term of the bond. If the Obligee determines that it is unable to
identify such a party, or parties, the Surety(ies) shall remedy the default of
the Principal under subsection 4) a) of this bond;
c) The Surety shall pay to a party, or parties, identified by the Obligee the
remaining unexpended portion of the Maximum Penal Sum. Said sum shall
become immediately due to a party, or parties, identified by the Obligee. In no
event shall such sum be tendered to the Obligee. Any new party or parties
identified by the Obligee under this paragraph shall immediately become a
Surety or Sureties under this bond for the remaining term of the bond.
NOTWITHSTANDING ANYTHING CONTAINED IN THE AGREEMENT TO THE
CONTRARY, THE LIABILITY OF THE PRINCIPAL AND SURETY UNDER THIS BOND IS
LIMITED TO THE TERM BEGINNING THE 20th DAY OF February, 2015, AND
ENDING THE 20th DAY OF February , 2020. AND ANY EXTENSIONS
OR RENEWALS OF THE REFERENCED AGREEMENT SHALL BE COVERED UNDER
THIS BOND ONLY WHEN CONSENTED TO IN WRITING BY THE SURETY. IT IS
FURTHER AGREED THAT THE REFUSAL BY THE SURETY TO EXTEND THE TERM OF
THIS BOND SHALL NOT CONSTITUTE A DEFAULT BY THE PRINCIPAL, AND SHALL
NOT GIVE RISE TO A CLAIM OR DEMAND AGAINST THE SURETY UNDER THIS
BOND.

In accordance with 33 C.F.R. § 332.3(n)(5), the Surety shall provide the Obligee notification of
at least 120 days in advance of termination, revocation, or modification of this bond.
No right of action shall accrue on this bond to or for the use of any person or corporation other
than the Obligee named herein, or their heirs, executors, administrators or successors.
The above - bounden parties have executed this instrument under their several seals, dated this
20th day of February , 2015, the name and corporate seal of each corporate party
being affixed and these presents duly signed by its undersigned representative, pursuant to
authority of its governing body.
Principal: EBX Neuse I, LLC
By: G
Elliott M. Bouillion, CEO
Surety: RLI Insurance Company
By:
E. Patrick Hennesy Attorney -in -Fact
Obligee: North Carolina Department of
Environment and Natural Resources -
Division of Water Resources
By:
Dire r cting Director

RLI Surety
A division of RLI Insurance Company
Know AI! Men by These Presents:
RLB0015961
POWER OF ATTORNEY
RLI Insurance Company
That the RLI INSURANCE COMPANY, a corporation organized and existing under the laws of the State of Illinois, and authorized and licensed
to do business in all states and the District of Columbia does hereby make, constitute and appoint: E. PATRICK HENNESY III
in the City of HOUSTON , State of TEXAS , as Attorney -in -Fact, with full power and authority hereby conferred upon him to sign,
execute, acknowledge and deliver for and on its behalf as Surety and as its act and deed, all of the following classes of documents to -wit:
$100,000.00
Indemnity, Surety and Undertakings that may be desired by contract, or may be given in any action or proceeding in any court of law
or equity; policies indemnifying employers against loss or damage caused by the misconduct of their employees; official, bail and
surety and fidelity bonds. Indemnity in all cases where indemnity may be lawfully given; and with full power and authority to
execute consents and waivers to modify or change or extend any bond or document executed for this Company, and to compromise
and settle any and all claims or demands made or existing against said Company.
The RLI INSURANCE COMPANY further certifies that the following is a true and exact copy of a Resolution adopted by the Board of
Directors of RLI Insurance Company, and now in force to -wit:
"All bonds, policies, undertakings, Powers of Attorney, or other obligations of the corporation shall be executed in the corporate
name of the Company by the President, Secretary, any Assistant Secretary, Treasurer, or any Vice President, or by such other officers
as the Board of Directors may authorize. The President, any Vice President, Secretary, any Assistant Secretary, or the Treasurer may
appoint Attorneys -in -Fact or Agents who shall have authority to issue bonds, policies, or undertakings in the name of the Company.
The corporate seal is not necessary for the validity of any bonds, policies, undertakings, Powers -of- Attorney, or other obligations of
the corporation. The signature of any such officer and the corporate seal may be printed by facsimile."
IN WITNESS WHEREOF, the RLI Insurance Company has caused these presents to be executed by its PRESIDENT with its
corporate seal affixed this
�^ ATTEST:
A1
CORPORATE SECRETARY
State of Illinois )
SS
County of Peoria )
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CO
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SEAL
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RLI INSU CE COh. IPANY
j 'PRESIDENT
On this 20 day of February 2015 before me, a Notary Public, personally appeared Michael J. Stone and Jean M. Stephenson, who being by me
duly sworn, acknowledged that they signed the above Power of Attorney as President and Corporate Secretary, respectively, of the said RLI INSURANCE
COMPANY, and acknowledged said instrument to be the voluntary act and deed of said corporation.
Notary Public "OFFICIAL SEAL"
NOTAFIY
PUBLIC JACQUELINE M. BOCKLER
STATE OF
ILLINOIS COMMISSION EXPIRES 01/14/18
SPA029 (07/14)

DAVID T. MICLETTE
1007 BRiARMFAD DR
HOUSTON TX 77057
North Carolina
Idceme N« 6560244 Lieme
NFN: 8360299
DAVID T...MICLEITE
MA IMENN
FFF6CIM FEW
LICKNOTYPE —:I.9 *Q1LjVTR= M, DATI ACMiXDATE
Pmdocer = Piuplty
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VA
This license shall remain in effect until the expiration date unless cancelled, surrendered or revoked. Individuals
who are licensed as Insurance Producers and/or Bail Bond licensees must complete continuing education and pay all
applicable renewal fees as required by North Carolina administrative code prior to the expiration date.
North Carolina
License No: 8560299 I,1GgnSe -� , `, ; NPN: 8560299
DAVID T. WCLETTY
Who has fulfilled all of the condi€ions of eligibility unposed by the General Statutes of North Carolina anal. is hereby
licensed by this State (in the cagitEd stated below) and granted the privilege to act' rovith the authority of this license. It
shall be valid until cancelled, surmdered or revoked
.LOA LICENSE
EFFECTIVE FIRST
LICENSE TYPE LINES QF Al<7 t'HORFI' 5' ` Dx�►TE ACTIVE DATE
Producer Properly 04112/2013 04/12/2013
Casualty '" GV1 2/2013
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For questions regarding a license please contact
the North Carolina Department of Insurance at: 919- 807 -6800 C issioner Of Insurance

RL1*
RLI Insurance Company
January 23, 2015
8 Greenway Plaza i Suite 400 i Houston, TX 77046-0899
P: 713 -961 -1300 i F: 713 - 961 -0285 1 www.rlicorp.com
To: North Carolina Dept. of Environment & Natural Resources
Division of Water Resources
1617 Mail Service Center
Raleigh, NC 27699
RE: Licensing
To Whom This May Concern,
Please be advised that RU Insurance Company, is a corporation organized in the State of
Illinois and is licensed to write business in the State of North Carolina, our NAIC # 13056.
Should you have any questions or concerns, please feel free to call.
Si cerely,
Greg E. hilson
Vice President
DIFFERENT WORKS

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