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15-0505_Bond_SUR21000000_Pacific Point Dev_TR 16751 Premium: $500.00 SUBDIVISION FAITHFUL PERFORMANCE BOND (GOVERNMENT CODE 66499.2) Bond No. SUR21000000 Replaces Bond No. SUR20000339 KNOW ALL MEN BY THESE PRESENTS, that Pacific Point Development Partners LLC (hereafter designated as "Principal"), and Ironshore Indemnity Inc. , as Surety (hereinafter called "Surety") agree to install and complete certain designated public improvements as conditioned by City Council Resolution No's. 92-6-16-4 and 03-09-16-06. WHEREAS, said Principal is required to furnish a bond pursuant to Municipal Code Section 9-5.101 and 9-5.109 et seq., for the faithful performance to guarantee certain work, more particularly described as follows: Water subdivision improvements within Tract 16751 as defined within Amendment#1 and Reinstatement of the Subdivision Improvement Agreement for Tract 16751 NOW, THEREFORE, we, the Principal and Surety are held firmly bound unto the City of San Juan Capistrano, (hereafter called "Obligee") in the penal sum of Sixty Six Thousand Six Hundred Eighty Eight Dollars and 00/100 Dollars, ($66,688,00 ) 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. NOW, THEREFORE, the condition of this obligation is such that, if Principal shall promptly and faithfully perform said improvement obligations within the fully executed and recorded subdivision improvement agreement, then the obligation shall be null and void; otherwise it shall remain in full force and effect. Page 1 of 3 BE IT FURTHER RESOLVED: 1. As a part of the obligation secured hereby, and in addition to the face amount specified, there shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by City in successfully enforcing such obligation, all to be taxed as costs and included in any judgment rendered. 2. Said Principal, for value received, hereby stipulates and agrees that no change, extension of time, alteration, or modification of the contract documents or of the work to be performed thereunder, shall in any way affect its obligations or this bond, and it does hereby waive notice of any such change, extension of time, alteration, or modification of the contract documents or of work to be performed thereunder. IN WITNESS WHEREOF, this instrument has been duly executed by the Principal herein named on the 19th day of May , 2015 ,the name and corporate seal of each corporate party being hereto affixed and these presents duly signed by its undersigned representatives pursuant to authority of its governing body. PRINCIPAL: Pacific Point Development Partners, LLC r-� (NOTARIZATION AND SEAL) Y� Its: SURETY: ironshore Indemnity Inc. (NOTARIZATION AND SEAL) By: Margaret . Ginem , Attorney-in-Fact Surety Phone No. clo V+ItiLLIS OF FLORIDA 4211 AhAPA, FL 33607170 ,NQOIRIE&(813)281-2495 Rage 2 of 3 APPROVED AS TO FORM: By: NOTE: Please attach Acknowledgement and Power of Attorney Page 3 of 3 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE§1189 A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached,and not the truthfulness,accuracy,or validity of that document. State of California ) County,of OnIS:y before me, ©atef H Ins Na and Titlqoth Officer r personally appeared i�l r , L° e Name(s)of Signer(s) who 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 helshe/they executed the same in his/her/their authorized capacity(tes),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. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph W.CORDI is true and correct. Commission#2088325 WITNESS my hand and official seal. Z =m Notary Public-California p Z + Orange County r J.�,•. . My Comm.Ex Tres Oct 31,2018 Signature Signature of Notary Public Place Notary Seal Above OPTIONAL Though this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: Document Date: Number of Pages: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: Signer's Name: ❑Corporate Officer — Title(s): ❑Corporate Officer — Title(s): ❑ Partner — ❑Limited ❑General ❑ Partner — ❑ Limited ❑General ❑ Individual ❑Attorney in Fact ❑ Individual ❑Attorney in Fact ❑Trustee ❑Guardian or Conservator ❑Trustee ❑Guardian or Conservator ❑Other: ❑ Other: Signer Is Representing: Signer Is Representing: 02014 National Notary Association •www.NationaiNotary.org • 1-800-US NOTARY(1-800-876-6827) Item#5907 Seiaa#e. . 311 I,00, amdllds:Sectiotis. Irl89 a61a- I M, eotioti 8-10--of tho GOYVMw Aw.Code;,relat ngto nqt itos:pttbl%eAbb, low. ysical format of tt�rieur disclosure r -Aotice:is=fin example f'or purpqes of inustratim. A ii6&q.public of other officer 6DWpietin9 5;. cerdfiDate verifies only the identity 6f the individual who:signed,the ii00merit.10 whi6,4w,Ai .certificate,is attached and not the truthfulness,; Iccurgy,of v44 IV ra#t :dotsugicm St'atte'of Califo_mia County.of Oh before rne, ��e�o insert name and title ofoffice6 personally 3 p _. y,a FP'eartsd who, �zAy��1����rar�'the.6asis,o�satisfactn evidence to iic=tlti� erson �'vrlos�iiarriei(s)islare sui�s�-tbe�l:tp: :.&6e w.itiri -instrument and acknoMedged to me- that: helshelthey executed the same in .hisiher/their• autbora?ed'-qapca#y(i0), iapd that;by )iismex/their OthAwriDW oil the inti tru�mt '4z6�-erson(slr or lhq �eritity u,ptm.behalf of wlti�lttEae per'sor�(�),acted,execated tT�:zrtstruinent~ 1, erkifj+'iitider PENAd,T `Ql pl tJtJR i ri&r.tlie laws of t ie.Stato.of Galiforttia th.4t the forgo rip pamSmph i"s true and'Correct, �►!ITNESS iny.l�id aiid..oft"iciak seat; s r ACKNOWLEDGEMENT BY SURETY STATE OF FLORIDA COUNTY OF HILLSBOROUGH I SS. On this 19th day of May, 2015 before me, personally came Margaret A. Ginem, who is personally known to me (or proved to me on the basis of satisfactory evidence) to be the person who executed the within Instrument as Attorney-In-Fact on behalf of Ironshore Indemnity Inc., and acknowledged to me that he/she executed the within instrument on behalf of said surety company and was duly authorized to do. In witness whereof, I have signed and affixed my official seal on the date in this certificate first above written Signature Anett Cardinale EIIIYl.Y ua5. ANFTT CARCINALE •: .I COMMISSfoo#FF 138482 Exp1res duly 281 2418 %A II a Theu7roYfdnrmurat" 3g� 3Q This area for Oficial Notarial Seal PDWEft DF ATTD'RNEY Ironshore Indemnity Inc. III- 21000000 KNOW ALL MEN BY THESE PRESENTS,that IRONSHORE INDEMNITY INC.,a Minnesota Corporation,with its principal office in New York,NY does hereby constitute and appoint:David H.Carr,Anett Cardinale,Margaret A.Ginem its true and lawful Attorney(s)-In-Fact to make,execute,seal and deliver for,and on its behalf as surety,any and all bonds,undertakings or other writings obligatory in nature of a bond. This authority is made under and by the authority of a resolution which was passed by the Board of Directors of IRONSHORE INDEMNITY INC.on the 22"d day of April,2013 as follows: Resolved,that the Director of the Company is hereby authorized to appoint and empower any representative of the company or other person or persons as Attorney-In-Fact to execute on behalf of the Company any bonds,undertakings,policies,contracts of indemnity or other writings obligatory in nature of a bond not to exceed$7,500,000 dollars,which the Company might execute through its duly elected officers,and affix the seal of the Company thereto. Any said execution of such documents by an Attorney-In-Fact shall be as binding upon the Company as if they had been duly executed and acknowledged by the regularly elected officers of the Company.Any Attorney-In-Fact,so appointed,may be removed for good cause and the authority so granted may be revoked as specified in the Power of Attorney. Resolved,that the signature of the Director and the seal of the Company may be affixed by facsimile on any power of attorney granted,and the signature of the Secretary, and the seal of the Company may be affixed by facsimile to any certificate of any such power and any such power or certificate bearing such facsimile signature and seal shall be valid and binding on the Company.Any such power so executed and sealed and certificate so executed and sealed shall,with respect to any bond of undertaking to which it is attached,continue to be valid and binding on the Company. IN WITNESS THEREOF,IRONSHORE INDEMNITY INC.has caused this instrument to be signed by its Director,and its Corporate Seal to be affixed this 7th day of August,2013 IRONSHORE INDEMNITY INC. t^' SEAL 1919 By: 4eL, n Director ACKNOWLEDGEMENT On this 7th Day of August,2013,before me,personally came Daniel L.Sussman to me known,who being duly sworn,did depose and say that he is the Director of Ironshore Indemnity, Inc.,the corporation described in and which executed the above instrument;that he executed said instrument on behalf of the corporation by authority of his office under the By-laws of said corporation. aw. _ AMY L TAYLOR -�--t'� Notary Public State or Tennessee 111 : Davidson County My Comm,ssion Ex9lrea 01-09-16 Amy L.Toy ";�kgn'"�•• Notary PubIIt CERTIFICATE I, the undersigned, Secretary of IRONSHORE INDEMNITY INC., a Minnesota Company, DO HEREBY CERTIFY that the original Power of Attorney of which the foregoing is a true and correct copy,is in full force and effect and has not been revoked and the resolutions as set forth are now in force. Signed and Sealed at this 191h Day of MayZp 15 BEIk ! 1419 411cs�1? Paul S.Gi danq Secretary "WARNING:Any person who knowingly and with intent to defraud any insurance company or other person,files and application for insurance or statement of claim containing any materially false information, or conceals for the purpose of misleading information concerning any fact material thereto, commits a fraudulent insurance act,which is a crime and subjects such person to criminal and civil penalties." IRONSNORE MDEMNITY INC FINANCIAL STATEMENT SUMMARY As of December 31,2014 ASSETS LIABILITIES Bonds $179,140,947 Losses $63,582,066 Preferred stocks 0 Relmurance payable on paid losses and loss adjustment expenses a Common stocks 31,840,141 Lou adjustment expenses $10,384,957 Mortgage loans on real estatm"rst kens 0 Commissions payable,contingent commissions and other similar charges $1,020,805 Mortgage loam on real estate,,Other than first liens 0 Other expenses(excluding taxes.licenses and fees) $5,435,126 Properties occupied by the company 0 Taxes,licenses and fax(excluding federal and foreign hwome taxes) $2,383,909 Properties held for the production of Income 0 Current federal and foreign Income taxes $2,434,392 Properties held for We 0 Not deferred tax Babllity 0 Cash,cash equivalents and short-term investments $15,632,951 Unearned premiums $29,158,576 Contract loans 0 Advance premium Derivatives 0 Ceded reinsurance premiumspayable(net ofceding commissions) $58,222,187 Other invested assets 0 Funds held by company under relnsurancetreatks 0 Receivables for securities 0 Amounts withheld or retained by company for account of others Securities lending reinvested collateral assets 0 Remittances and Items not allocated Aggregate wrlteansforinvestedassets 0 Provision for reinsurance $1,545,075 Subtotals.cash and Invested assets $226,614;039 Net adjustments In assets and Liabilities due to foreign exchange rates Title plants less$.-;Charged off 0 Drafts outstanding Investment Income due and accrued $990,960 Payable to parent,subsidiaries and offlNahs $12,458,110 Uncollected prem ums and agents'balances in the course of collection $73,567,547 Derivatives 0 Deferred premiums,agents balances and Installments booked but deferred and not 0 yet due Payable for securities 0 Accrued retrospective premiums 0 Payable for securities lending 0 Amounts recoverWe ficin reinsurers $33,586,257 Liability for amounts held under uninsured plans 0 Funds held by or deposited with reinsured companies 0 Aggregate write-ins for liabilities $4,38928 Other amounts receivable under reinsurance contracts 0 Total Mobilities excluding protected cell Ilablfities $190,811,131 Amounts receivable relating to uninsured pians 0 Protected cell liabilities Current federal and foreign I ncome tax recoverable and Interest thereon 0 Net deferred tax asset $5,530,837 Totathabilities $190,811,131 0 Guaranty funds receivable or on deposit Furniture and equipment,Including health are delivery assets 0 POLICYNOLDEWSSURPLUS Net adjustment In assets and IlablOties due to foreign exchange rates 0 Aggregate vette-Ins for special surplus funds 0 Receivables from parent,subsidiaries and affiliates 0 Health are and other amounts receivable 0 Common capital stock 5,0D0,000 Aggregate write-ins for other than Invested assets $7,124,971 Preferred capital stock Total assets excluding Separate Accounts,Segregated Accounts and Protected ed Cel; Aggregate write-ns for other than spacial surplus 0 Accounts From Separate Accounts.Segregated Acgwnts and Protected Cell Accounts 0 Surplus Notes TOTALS $347,414631 Gross paid in and contributed surplus $156,938,671 Unassigned funds(surpius; ($5,33S,190) Surp us as regards policyholders $156,603,481 TOTALS $347,414,611 SUBSCRIBED and swum to me Ifilseday of JJ�J-1 .,?GI j S Mycominiocnexpire&, -7-/V—/T NotaryPubllc CERTIFICATE ATE Pr ALYSSA TURKOVf1Z Printed Name Notary Public,State Of New York I certtty etwt the above financial statements to the tsestof my NO.01 TU6044514 knowledge are a true and accurate reflection of the flnerxlal ALYSSA TURKOYli3. condition of the Company us of December 13,2014, Qualliled in Westcho ster County Additionally,I certify that the above financial statements are K :, �,�� 61<1 COmmle6lon t=kPlfW July 10,.201 B hi agreement with the Statutory Financial Statements filed with the Texas Notat¢.1Fubl Ic,State of New York Department of insurance as of the same date. No.01TU6044514 William J deacon Qualified In Westchester County C, VP&Tr4a L Comrolsshrn Expires July 10,2014 SUBDIVISION LABOR AND MATERIAL BOND (GOVERNMENT CODE 66499.2) Bond No. SUR21000000 Replaces Bond No.SUR20000339 KNOW ALL MEN BY THESE PRESENTS, that Pacific Point Development Partners LLC (hereafter designated as "Principal"), and Ironshore Indemnity Inc. , as Surety (hereinafter called "Surety") agree to install and complete certain designated public improvements as conditioned by City Council Resolution No's. 92-6-16-4 and 03-09-16-06. WHEREAS, said Principal is required to furnish a bond pursuant to Municipal Code Section 9-5.101 and 9-5.109 et seq., for the faithful performance to guarantee certain work, more particularly described as follows: Water subdivision improvements within Tract 16751 as defined within Amendment#1 and Reinstatement of the Subdivision improvement Agreement for Tract 16751 NOW, THEREFORE, we the Principal and Surety are held firmly bound unto the City of San Juan Capistrano, (hereafter called "Obligee") in the penal sum of Sixty Six Thousand Six Hundred Eiqhtv Eight Dollars and 00/100 Dollars ($66,688.00 ) 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. NOW, THEREFORE, the condition of this obligation is such that if the above bound Principal, his or its heirs, executors, administrators, successors or assigns, shal in all things stand to and abide by and well and truly keep and perform the covenants, conditions and provisions per City Council Resolution No's. 92-6-16-04 and 03-09-16- 06, 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 the City, its offers, agents and employees as therein stipulated, and, as necessary enter into a Subdivision Agreement, then this obligation shall become null and void; otherwise it shall be and remain in full force and effect. Page 1 of 3 BE IT FURTHER RESOLVED: 1. As a part of the obligation secured hereby, and in addition to the face amount specified therefore, there shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by City in successfully enforcing such obligation, all to be taxed as costs and included in any judgment rendered. 2. Said Principal hereby stipulates and agrees that no change, extension of time, alteration, or modification of the terms of the agreement or of the work to be performed thereunder, shall in any way affect its obligations or this bond, and it does hereby waive notice of any such change, extension of time, alteration or modification of the terms of the agreement or of the work or to the specifications. IN WITNESS WHEREOF, this instrument has been duly executed by the Principal herein named on the 19th day of__ _ may2015 , the name and corporate seal of each corporate party being hereto affixed and these presents duly signed by its undersigned representatives pursuant to authority of its governing body. PRINCIPAL: Pacific Point Development Partners, LLC (NOTARIZATION AND SEAL) Its: SURETY: Ironshore Indemnity Inc. (NOTARIZATION AND SEAL) By: ^arcgaret . Ginem , Attorney-in-Fact Surety Phone No. C/O 1MLLIS OF FLORIDA 4211 W.Boy SCOUT BLVD,#100 Page 2 of 3 TAMPA, FL 33667 INQUIRIES:(813)281-2695 APPROVED AS TO FORM: By: NOTE: Please attach Acknowledgement and Power of Attorney Page 3 of 3 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE§ 1189 A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached,and not the truthfulness,accuracy,or validity of that document. State of California q County of ) On As�before me, W, LSU Dae H L1ns&Na,,A; d Title of the fficer personally appeared )' Q Name(s)of Signer(s) - w who 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. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph W. CORDI is true and correct. Commission#2088325 � WITNESS my hand and official seal. z Notary Public-California x Orange County ' tui Comm.Ex ices Oct 31,2018 Signature Signature of Notary Public Place Notary Seal Above OPTIONAL Though this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: Document Date: Number of Pages: Signer(s) Other Than Named Above: Capacity(les) Claimed by Signer(s) Signer's Name: Signer's Name: ❑Corporate Officer — Title(s): _. ❑Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑General ❑ Partner — ❑ Limited ❑General ❑ Individual ❑Attorney in Fact ❑Individual ❑Attorney in Fact ❑Trustee ❑Guardian or Conservator ❑Trustee ❑Guardian or Conservator ❑ Other: ❑ Other: Signer Is Representing: Signer Is Representing: 0 ©2014 National Notary Association •www.NationalNotary.org - 1-800-US NOTARY(1-800-876-6827) Item 45907 ACKNOWLEDGEMENT BY SURETY STATE OF FLORIDA COUNTY OF HILLSBOROUGH I SS. On this 19th day of May, 2015 before me, personally came Margaret A. Ginem, who is personally known to me (or proved to me on the basis of satisfactory evidence) to be the person who executed the within Instrument as Attorney-In-Fact on behalf of Ironshore Indemnity Inc., and acknowledged to me that he/she executed the within instrument on behalf of said surety company and was duly authorized to do. In witness whereof, I have signed and affixed my official seal on the date in this certificate first above w + n. Signature Anett Cardinale =k: •_ COMMISSion#FF 138482 Expkes duly 28,2 8ondmd Thru Troy an Insuruic$Sf us,74f, This area for Official Notarial Seal Senate.Bill IQ .0, ati ri is Sectroris l$9 avid` 195:.q ;thd:0 t.Cq'(fe and Se titin $20Z of'tlie QoYexn:mAf.Code,telafingto notal".pttlilfb, TJie,bel �bys cal format of the hewdisclosure x pooq,is;=exairmple; rprRIP Osll!lpf iotlstmjl A hbtify.public of other off[cef co#letiagW$. cer#ifiwi verifies only the identity-af the individual vrho,sia led the daAu �WA mellu hidh thi .certificate.is attached,and not-the trdfhUness, )kci*-ady;vX ValWity p1'`#4'I'.el6toment, 5tate'of California ,Qbunty of .Oil l�efare rne, : (}icre insert naane and title of officer),peron sally weato Who�roVed t¢��;oil th'e hasi•s af'�atisfactoiry-er!;deuce to fie tl��:.perso�;(��Si+tiose rianie(s};isl�jre sulj�crihe�l t[j. #li6 within..iastrament and acknowledged to me?'thatz helshelthey executed tha sama::inl islher/their• *UAOiUgo'Oocity00), atisl Haat,t}y lsllf r/theft'S 9WOTeW '0 tie iiistr lfhOpt the'Verson(s),.of the �ei#ity tipo4 behalf of A icii'tlie per'soii(s)aced;ekme ted ti&instrurnent 1; it $±'iirider 1'ENALIX''Q>' �l R7,'RX i niier. lie laws'of te, tate q Gal�ft�rr,ia fat the oregoiri .paragrayih is true and'cDrrect- WU NESS in y hand and official seal', Signature, (Sea]). POWER OF ATTORNEY Ironshore Indemnity Inc. III- 21000000 KNOW ALL MEN BY THESE PRESENTS,that IRONSHORE INDEMNITY INC.,a Minnesota Corporation,with its principal office in New York,NY does hereby constitute and appoint:David H.Carr,Anett Cardinale,Margaret A.Ginem its true and lawful Attorney(s)-In-Fact to make,execute,seal and deliver for,and on its behalf as surety,any and all bonds,undertakings or other writings obligatory in nature of a bond. This authority is made under and by the authority of a resolution which was passed by the Board of Directors of IRONSHORE INDEMNITY INC,on the 22nd day of April,2013 as follows: Resolved,that the Director of the Company is hereby authorized to appoint and empower any representative of the company or other person or persons as Attorney-In-Fact to execute on behalf of the Company any bunds,undertakings,policies,contracts of indemnity or other writings obligatory in nature of a bond not to exceed$7,500,000 dollars,which the Company might execute through its duly elected officers,and affix the seal of the Company thereto. Any said execution of such documents by an Attorney-In-Fact shall be as binding upon the Company as if they had been duly executed and acknowledged by the regularly elected officers of the Company.Any Attorney-in-Fact,so appointed,may be removed for good cause and the authority so granted may be revoked as specified in the Power of Attorney. Resolved, that the signature of the Director and the seal of the Company may be affixed by facsimile on any power of attorney granted,and the signature of the Secretary, and the seal of the Company may be affixed by facsimile to any certificate of any such power and any such power or certificate bearing such facsimile signature and seal shall be valid and binding on the Company.Any such power so executed and sealed and certificate so executed and sealed shall,with respect to any bond of undertaking to which it is attached,continue to be valid and binding on the Company. IN WITNESS THEREOF, IRONSHORE INDEMNITY INC. has caused this instrument to be signed by its Director,and its Corporate Seal to be affixed this 7th day of August,2013 IRONSHORE INDEMNITY INC. I� eEAL 4_ - 1919 By: Dan e L.Sus n Director ACKNOWLEDGEMENT On this 71h Day of August,2013,before me,personally carne Daniel L.Sussman to me known,who being duly sworn,did depose and say that he is the Director of Ironshore Indemnity, Inc.,the corporation described in and which executed the above instrument;that he executed said instrument on behalf of the corporation by authority of his office under the By-laws of said corporation. .—LA ARW L TAYLLO7WNolaryPubli65brtenes5eeDavNson GL"YGsw9n PYp •43-5a smy L 7a Wily FuMc CERTIFICATE I, the undersigned, Secretary of IRONSHORE INDEMNITY INC., a Minnesota Company, DO HEREBY CERTIFY that the original Power of Attorney of which the foregoing is a true and correct copy,is in full force and effect and has not been revoked and the resolutions as setforth are now in force. Signed and Sealed at this 19th Day of May Zp 15 -4 REAL ' 1919 �y�a Paul S.Gi 2ano ' Secretary 'WARNING:Any person who knowingly and with intent to defraud any insurance company or other person,files and application for insurance or statement of claim containing any materially false information, or conceals for the purpose of misleading information concerning any fact material thereto, commits a fraudulent insurance act,which is a crime and subjects such person to criminal and civil penalties." IRONSHORE nNDEMN ITY INC FINANCIAL STATEMENT SUMMARY As of December 31,2014 ASSETS LIABILITIES Bonds $179,140,947 tosses $63,582,066 Preferred stocks 0 Reinsurance payable onid losses and loss pa adjustment expenses 0 Common stocks 31,840,141 loss adjustment expenses $10,394,957 Mortgage loans on real estate:First tens 0 Commissions payable,contingent commisslonsand other similar charges $1,020,805 Mortgage Irons on real estate,Other than first liens 0 Other expenses(excluding taxes.licenses and fees) $5,435,126 Properties occupied by the company 0 Taxes,licenses and fees(exducfmg federal and foreign income taxes) $2,383909 Properties held for the production of i noome 0 Current federal and foreign Income taxes $1.434,392 Properties held for We 0 Net deferred tax liability 0 Cash,ash equivalents and short-term Investments $15,632,951 Unearned premiums $29,358,576 Contract bans D Advance premium Derivatives 0 Ceded relnsuirance premiums payable(net of ceding commissions) $58,222,187 Other invested assets 0 Funds held by company under reinsurance treaties 0 Receivables forsecurities 0 Amounts wlthhNdorretained bycompany fwaaounto(others Securities lending reinvested collates`assets 0 Remittances and kerns not allocated Aggregate write-Ins.forlovested assets 0 Provision forreinsurance $1,545,075 Subtotals.cash and Invested assets $226,614039 Net adjustments in assets and kabilhles due to foreign exchange rates Title plants less$--F Charged off 0 Drifts outstanding Investment Income due and accrued $990,960 Payable to parent,subsidiaries and affiliates $12,458,110 Uncollected prenfumsand agents'balanceslnthe course ofcolleetton $73,567,547 Derivatives 0 Deferred premiums,agents'balances and Installments booked but deferred and not 0 yet due Payable for securities 0 Accrued retrospective premiums 0 Payable for securities lending 0 Amounts recoverable from reinsurers $33.5866257 0ablllty for amounts held under uninsured plans 0 Funds held by or deposited with reinsured companies 0 Aggregate write-Ins for liabilities $4,185,928 Other amounts receivable under reinsurance contracts 0 Total liabilities excluding protected call liabilities $190,811,131 Mnounts receivab;e relating to uninsured plans 0 Protected cell liabilities Current federal and foreign income tax recoverable and interest thereon 0 Net deferred tax asset $S,530,837 Total liabilities $190,811,131 0 Guarantyfunds receivableor on deposit Furniture and equipment;,including healthcare delivery assets 0 POUCYHOLDEWSSURPLUS Net adjustment In assets and liabilities due toforegn exchange rates 0 Aggregate vette-Ins for special surplus funds 0 Receivables from parent,subsidiaries and affiliates 0 Health are and other amounts receivable 0 Common aptal stock S 000 000 Aggregate write-Ins for other than Invested assets $7,124,971 Preferred capital stock Total assets excluding Separate Accounts,Segregated Accounts and Protected Cat $347,414,611 Aggregate write-im for other than special surplus p Accounts From Separate Accounts,Segregated Accounts and Protected Cell Accounts 0 Surplus Notes Gross paid In and conttabuted surplus TOTALS $347,414,611 $156,938,671 Unassigned funds(surplus; ($5,335,190) Surp us as regards policyholders $156,603,481 TOTALS $347,414,611 SUBSCRIREDandswomtomagrlsdayofM/�j! .-!}f5 Mycom+nss.:..nexp,res 7-/0-11' � - Notaryf+uWlc ALYSSA TURKOVf1Z CERTIFICATEr Polled Name Notary Public,State of NOW York I certify that the above financial statements to the bestof my NO.U1TU6044.514 knowledge are a true and accurate reflection of the linamial ALYSSA TU RKOyf6Z condition of the Company as of December 31,2014, .r 1 Qualified inWestcheMerCourdy Additionally,l certify that the above financial statements am C_r.1 r�rY]p� /144/l.., — ' i lY 10r tjt In agreement with the Statutory Flnandal Statements filed with the Texas lfo"l ubdc.Stile of New York Department of Insurance as of the same date No-01TV6044514 Wfillam J Gleeson cluanBed In Westchester County j FO,VP-&Treasurer Coramission Expires July 10,2014