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<br /> M •
<br /> STATE OF � Y�
<br /> � -
<br /> CC}U�1TY OF � Y�
<br /> � On this 25th day of _ Mar�h , 19�, before me personally appeared
<br /> to me known who, being by me duly sworn, did depose and say.: That he
<br /> res�des in � York, New York ;that he�s Attorney-�n-Fact of the INSURANCE COMPANY OF NORTH
<br /> AMERICA,the corporation descnbed in and which executed for foregoing instrument: that he knows the corporate seal of the said Corporation;
<br /> that the seal affixed to said mstrument is such corporate seal;that it was so affixed by order of the Board of D�rectors of said Corporation;and that
<br /> he signed his name thereto as Attorney-in-Fact by order of the Board of Directors of said Corporation; and the deponent saith further that the
<br /> Supenntendent of Insurance of the State of New York has,pursuant to Section 327 of the Insurance Law of the State of New York,�ssued to the
<br /> INSURANCE COMPANY OF NORTH AMERICA his certificate that said Company�s qual�fied to become and be accepted as surety or guarantor
<br /> on all bonds, undertakings and other obligations or guarantees, as prowded in the Insurance Law of the State of New York and all laws
<br /> amendatory thereof and supplementary thereto; and that such certif�cate has not been revoked; and that the assets of said Company,
<br /> unercumbered and liable to execution exceed �ts debts and liab�l�ties of every nature whatsoever, by S�x Hundred Twenty Seven Million Dollars
<br /> ;$67_7,0OO,OGO)
<br /> Witness my hard and seal the day and year aforesaid: , P:1�4RYY TpBiN
<br /> � ---�"���F (;ct�r� �u�iic, �;::it; qf �V��.v York
<br /> <u-t / ;Xd r?�3�9c� E�'�t-i-'-�'d-'^^�� Co.
<br /> (Seal) Cert. Fil„� ir N.X. �o. GI;�'s 7;fice
<br /> COPY OF RESOLUTION Commission Expires March 30, 1987
<br /> BE IT REMEMBERED,that at a meeting of the Board of Directors of the INSURANCE COMPANY OF NORTH AMERICA,duly called and held at
<br /> the off�ce of the Company, �n the City of Philadelphia, State of Pennsylvania, on the 5th day of December, 1983, a quorum being presert, the
<br /> follow�rg Resolution was duly adopted:
<br /> RESOLVED,That pursuant to Articles 3.18 and 5.t of the By-Laws the following Rules shall govern the execuuon for the Company of bonds,
<br /> undertakings, recognizances, contracts and other writings in the nature thereof:
<br /> (1) That the President, or any Sernor Vice President, any Vice President, any Assistant Vice President,or any Attorney-in-Fact, may execute for
<br /> and on behalf of the Company any and all bonds,undertakings,recognizances,contracts and other writings in the nature thereof,the same to
<br /> be attested when necessary by the Corporate Secretary, or any Assistant Corporate Secretary and the seal of the Company affixed thereto;
<br /> and that the President, any Senior Vice President, any Vice President, or any Assistant Vice President may appoint and authorize any other
<br /> Officer(elected or appointed)of the Company,and Attorneys-in-Fact to so execute or attest to the execution of all such writings on behalf of
<br /> the Company and to affix the seal of the Company thereto.
<br /> (2) Any such writing executed in accordance with these Fiules shall be as bmding upon the Company as though signed by the President and
<br /> attested to by the Corporate Secretary.
<br /> �3) The signature of the President, or a Sen�or Vice President, or a Vice President, or an Ass�stant Vice President and the seal of the Company
<br /> may be affixed by facsimile on any power of attorney granted pursuant to this Resolution,and the signature of a certifying Officer and the seal
<br /> of the Company may be affixed by facsim�le to any certificate of any such power, and any such power or certificate bearing such facs�mile
<br /> s�gnature and seal shall be valid and binding on the Company.
<br /> (4) Such other Officers of the Company,and Attorneys-in-Fact shall have authority to cert�fy or verify copies of this Resolution,the By-Laws of the
<br /> Company, and any affidavit or record of the Company necessary to the d�scharge of the�r duties.
<br /> (5) The passage of this Resoiution does not revoke any earlier author�ty granted by Resolutions of the Board of Directors adopted on June 9,
<br /> 1953, May 28, 1975, and March 27, 1977.
<br /> Financial Statement December 31, 1985
<br /> Admrtted Assets Liabdrties
<br /> Cash in Office and Banks . $ 85,893,787 Unpa�d Ciaims and Claim Expense . . . . . . . . . $2,260,331,919
<br /> Short-Term Investments 503,680,017 Unearned Premwms 719,939,503
<br /> Government Bonds (amortized values) 390,576,464 Reserve for Taxes and Expenses . . . . . . . . . . 58,601,280
<br /> Miscellaneous Bonds (amortized values) . 996,627,125 Other Liabilities 96,194,614
<br /> Stocks (market value) . . . . . . . . . . . . . . . . . 427,1 14,815 Funds Held by Company Under
<br /> Accrued Interest . . . . _ 40,582,598 Remsurance Treaties . . . 37,026,186
<br /> Mortgage Loans on Real Estate . . . . . . . . . . 100,668,665 Reinsurance in Non-Admitted Companies 85,215,760
<br /> Real Estate . . . . . . . . . . . . . . . . . . . . . . . . 17,198,443 Capital Paid In . $ 56,785,545
<br /> Premiums in Course of Collection 289,032,863" Surplus Paid In 734,148,981
<br /> Funds Held by Cedmg Reinsurers . . . . . . . . . 15,116,220 Unassigned Surplus (163,167,710) 627,766,816
<br /> All Other,Assets 1,018,585,081
<br /> TOTAL LIABILITIES $3,885,076,078
<br /> TOTAL ASSETS $3,885,076,078
<br /> ("Excludes premwms more than 90 days due.)
<br /> It is hereby certified that Carol L. Tietz
<br /> has been appomted Attorney-�n-Fact of the INSURANCE COMPANY OF NORTH AMERICA at Or , 2�1 OI'
<br /> _that said appointment is in full force and effect as of the date hereof, that sa�d appo�ntment was made under and by author�ty of the
<br /> foregoing Resolution,or one of the aforementioned earl�er Resolut�ons,wh�ch sa�d Resolut�on has been compared by me w�th the origmal thereof
<br /> as recorded in the minute book of said Company and is a true and correct transcnpt thereof and�s in full force and effect,and that the foregoing is
<br /> a true and correct statement of the f�nancial condition of the said Company, as of December 31, 1985. 25th
<br /> ,JN WJTNESS WHEREQ�, I have hereunto set my hand and affixed the seal of said corporation this day of
<br /> 1"larcn , �grs
<br /> � � � ��
<br /> Secretary
<br /> ��
<br /> BS-15581f Ptd. in U.S.A. '
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