20170537 Ver 2_construction bond_20181029

Mitigation Bank Construction
Performance Bond
Bond No. 9298625 Penal Sum: $150,000.00
Know All Men By These Presents,
That we, EBX Neuse I, LLC of 412 N. 4" Street, Ste 300, Baton Rouge, LA 70802
(hereinafter called the Principal), as Principal, and Fidelity and Deposit Company of Maryland
with an office at 1299 Zurich Way, 5" Floor, Schaumburg, IL 60196, a corporation duly
organized under the laws of the State of Maryland (hereinafter called the "Surety"), as Surety, are
held and firmly bound unto the North Carolina Department of Environmental Quality -
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 Fifty Thousand
and 00/100 Dollars ($150,000.00) (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 R E S N e u s e U in b r e 11 a M i tigation Banking Instrument
(hereinafter called the "UMBI") with the Obligee, dated the 31st day of January, 2018, which
includes the Hannah Bridge Riparian Buffer & Nutrient Offset Bank Parcel Development Package
(hereinafter called the BPDP) for the Hannah Bridge Riparian Buffer & Nutrient Offset Mitigation Site
(the "Mitigation Bank Site") where financial obligations by the Principal are explicitly written and
agreed upon between the Principal and the Obligee, The UMBI, 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 UMBI and BPDP; NCDWR #2017-0537v2.
NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above
bounden Principal shall successfully complete construction and obtain written approval of an as -
built report from the Obligee, 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) Obligee will issue a full and final release of this Bond Upon successful completion of
construction and approval of an as -built report, or ii) other security, in the amount of
and covering the same obligations stated herein, is posted with the Obligee.
2) If any payment under this Bond, as set forth in subsection 3 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 ofthe number or amount of claims brought against this bond and regardless
of the number of years this bond reinaiils in effect. The Obligee shall issue a full and
final release of this Bond and any and al 1 of Surety's obligations hereunder when
Surety has tendered payment in whole, or in parts equal to the aggregate sum,

3) 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 UMBI and BPDP. Upon notice of the Principal 's default under the
U MBI and BPDP, the Surety, in its sole discretion, shall remedy the Principal's default
either under subsection 3) a) or 3) 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 3) 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
Obl igee. Any new party or parties identified by the Obl igee 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 3) a) of this bond;
c) The Surety shall pay to a party, or parties, identified by the Obl igee 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 23rd OF October, 2018, AND
EN DING THE 23rd DAY OF October, 2019 AN D AN Y EXTENSIONS OR
RENEWALS OF THE REFERENCED AGREEMENT SHALL BE COVERED UNDER TH
IS BOND ONLY WHEN CONSENTED TO IN WRITING BY THE SURETY. IT IS FU
RTHER 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 shal 1 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
23rday-of October, 2018, 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: E - eusse 1, LLC
By: W
Geo
Surelt�y.�Ffidelity and Deposit Company of Maryland
By:
Vanessa Dominguez, Attorney-in-Fact p dO
Obligee: North Carolina Department of Enironmental
Quality — Division of Water Resource
By:

EXTRACT FROM BY-LAWS OF THE COMPANIES
"Article V, Section 8, Attorneys -in -Fact. The Chief Executive Officer, the President, or any Executive Vice President or Vice President
may, by written instrument under the attested corporate seal, appoint attomeys-in-fact with authority to execute bonds, policies,
recognizances, stipulations, undertakings, or other like instruments on behalf of the Company, and may authorize any officer or any such
attorney-in-fact to affix the corporate seal thereto; and may with or without cause modify of revoke any such appointment or authority at any
time.
CERTIFICATE
I, the undersigned, Vice President of the ZURICH AMERICAN INSURANCE COMPANY, the COLONIAL AMERICAN
CASUALTY AND SURETY COMPANY, and the FIDELITY AND DEPOSIT COMPANY OF MARYLAND, do hereby certify that the
foregoing Power of Attorney is still in full force and effect on the date of this certificate; and I do further certify that Article V, Section 8, of
the By -Laws of the Companies is still in force.
This Power of Attorney and Certificate may be signed by facsimile under and by authority of the following resolution of the Board of
Directors of the ZURICH AMERICAN INSURANCE COMPANY at a meeting duly called and held on the 15th day of December 1998.
RESOLVED: "That the signature of the President or a Vice President and the attesting signature of a Secretary or an Assistant Secretary
and the Seal of the Company may be affixed by facsimile on any Power of Attorney... Any such Power or any certificate thereof bearing such
facsimile signature and seal shall be valid and binding on the Company."
This Power of Attorney and Certificate may be signed by facsimile under and by authority of the following resolution of the Board of
Directors of the COLONIAL AMERICAN CASUALTY AND SURETY COMPANY at a meeting duly called and held on the 5th day of
May, 1994, and the following resolution of the Board of Directors of the FIDELITY AND DEPOSIT COMPANY OF MARYLAND at a
meeting duly called and held on the 10th day of May, 1990.
RESOLVED: "That the facsimile or mechanically reproduced seal of the company and facsimile or mechanically reproduced signature
of any Vice -President, Secretary, or Assistant Secretary of the Company, whether made heretofore or hereafter, wherever appearing upon a
certified copy of any power of attorney issued by the Company, shall be valid and binding upon the Company with the same force and effect
as though manually affixed.
STIMO Y W
F I have 4qpunto subscribed my name and affixed the corporate seals of the said Companies,
this ay of 20.
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Michael Bond, Vice President
TO REPORT A CLAIM WITH REGARD TO A SURETY BOND, PLEASE SUBMIT ALL REQUIRED
INFORMATION TO:
Zurich American Insurance Co.
Attn: Surety Claims
1299 Zurich Way
Schaumburg, IL 60196-1056

ZURICH AMERICAN INSURANCE COMPANY
COLONIAL AMERICAN CASUALTY AND SURETY COMPANY
FIDELITY AND DEPOSIT COMPANY OF MARYLAND
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS: That the ZURICH AMERICAN INSURANCE COMPANY, a corporation of the State of New
York, the COLONIAL AMERICAN CASUALTY AND SURETY COMPANY, a corporation of the State of Maryland, and the FIDELITY
AND DEPOSIT COMPANY OF MARYLAND a corporation of the State of Maryland (herein collectively called the "Companies"), by
DAVID MCVICKER, Vice President, in pursuance of authority granted by Article V, Section 8, of the By -Laws of said Companies, which
are set forth on the reverse side hereof and are hereby certified to be in full force and effect on the date hereof, do hereby nominate,
constitute, and appoint Melissa L. FORTIER, Vanessa DOMINGUEZ, Michael J. HERROD, Lupe TYLER, Lisa A. WARD, Deena
BRIDGES, Misty WRIGHT and Donna L. WILLIAMS, all of HOUSTON, Texas, EACH its true and lawful agent and Attorney -in -
Fact, to make, execute, seal and deliver, for, and on its behalf as surety, and as its act and deed: any and all bonds and undertakings,
EXCEPT bonds on behalf of Independent Executors, Community Survivors and Community Guardians. and the execution of such
bonds or undertakings in pursuance of these presents, shall be as binding upon said Companies, as fully and amply, to all intents and
purposes, as if they had been duly executed and acknowledged by the regularly elected officers of the ZURICH AMERICAN INSURANCE
COMPANY at its office in New York, New York., the regularly elected officers of the COLONIAL AMERICAN CASUALTY AND
SURETY COMPANY at its office in Owings Mills, Maryland., and the regularly elected officers of the FIDELITY AND DEPOSIT
COMPANY OF MARYLAND at its office in Owings Mills, Maryland., in their own proper persons.
The said Vice President does hereby certify that the extract set forth on the reverse side hereof is a true copy of Article V, Section 8, of
the By -Laws of said Companies, and is now in force.
IN WITNESS WHEREOF, the said Vice -President has hereunto subscribed his/her names and affixed the Corporate Seals of the said
ZURICH AMERICAN INSURANCE COMPANY, COLONIAL AMERICAN CASUALTY AND SURETY COMPANY, and
FIDELITY AND DEPOSIT COMPANY OF MARYLAND, this 3rd day of August, A.D. 2018.
ATTEST:
Assistant Secretary
Dawn E. Brown
ZURICH AMERICAN INSURANCE COMPANY
COLONIAL AMERICAN CASUALTY AND SURETY COMPANY
FIDELITY AND DEPOSIT COMPANY OF MARYLAND
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Vice President
David McVicker
State of Maryland
County of Baltimore
On this 3rd day of August, A.D. 2018, before the subscriber, a Notary Public of the State of Maryland, duly commissioned and qualified, DAVID
MCVICKER, Vice President, and DAWN E. BROWN, Assistant Secretary, of the Companies, to me personally known to be the individuals and officers
described in and who executed the preceding instrument, and acknowledged the execution of same, and being by me duly sworn, deposeth and saith, that
he/she is the said officer of the Company aforesaid, and that the seals affixed to the preceding instrument are the Corporate Seals of said Companies, and that
the said Corporate Seals and the signature as such officer were duly affixed and subscribed to the said instrument by the authority and direction of the said
Corporations.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my Official Seal the day and year first above written.
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Constance A. Dunn, Notary Public
My Commission Expires: July 9, 2019
POA -F 168-7375A