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' POWER OF ATTORNEY OF
<br />INDEMNITY COMPANY OF CALIFORNIA
<br />AND DEVELOPERS INSURANCE COMPANY j�j° 214733
<br />P.O. DQ% 18725, IRVINE, CA 92713 •(714) 263-3300
<br />NpnCE 1 All pnwer nnd aWM1onry Ocre�n BranlcJ shall in nny evem IerminrJa on me 71sI Any ol March, 1996.
<br />2. ThiS POWCf OI AflO�nCy i9 vOid d RIICIBE Of II 811y O�fI1001! Cf85P.E.
<br />7. ' �is Powm ol Altomey if voi0 unlese Ihe senl b ree0eble. Il+e le�l ie In Crown inY. Ihe signntuwf ore In Nue Ink entl Inis notica Is m re� ink.
<br />� Thls Power ol Atlorney s�ould nat �a mturnatl la t�e Atbmey�5l�ImFac1, Gul s�oultl ramain u permanenl Oetl ol I�e obllgoo'a rocorOs.
<br />KN JJ ALL MEN BY THESE PPESENTS, I�et, e�cepl ee e�presely Ilml�ed, INDEMNITY COM7ANY OF CAL�FORNI� end DEVEIOPER41N9UPANCE GOMPANY, Ao eec�
<br />severnlly, �ul nol �olntly, hareby mnka, conelllWo enA eOPolnt
<br />`•*)AKE W. MURPHREE, KAREN L STAFFANSON, MYLA F. BELSTON, JOINTLY OR SEVERALLY""*
<br />tnu Ima and lnwlul Atlornay�S��ImFac1. lo meMe. n.ecule, Oellver pnE acknowleApo. lor enA on Cehell ol eeth ol nnlG corDa�allons ee surelies, bonOs, unEartaAln�s en0 comrecle ol
<br />swerys�ip In en amount noI oetaetllnp "fwc M�Illon Flva NunOretl Thousen0 Dallnrn (it.500,000) In eny slnple unUoheklnp; qiving en0 prantln0 unlo nnid Atlmncy�s��In�Fecl tull
<br />pnwer and aut�orlty lo Ao 9nC to Oeilr!m c+ery nct necuseary, reqWsno or proper lo he done In connecilon Oierewll� ae aec� ol Saltl corporelions coul0 Eo, bW roserving lo e.c� ol
<br />!mC corporatlonf lull powur ol subslltot�on an0 rovocelion; en0 ell ol1�a ecls o1 saiA Allomey�e��In�Facl, pureuenl lo Inese prosenis. ere heraby relllied eM conllrmod.
<br />7ne ew�orlty en0 powa�e conlevod Cy Ihle Power ol Attorney do nol ealen0 to eny ol �hx followlnq Oond6, unEerteklnpe or conlreda ol eureryshlp;
<br />�ank Eepo9itory Gontle. morlgape Oeliclency bonEs, marlgeye puerenloe Contll, Buarantee5 0l inatollment pepor. note Ouerenlee bonac, EonCs on bnenclel InstlNtions, IeAea
<br />�ands, insurenco compsny pualltylnq Conde, ccli�inswni s �onEs. IlOellry ConUe or bnll DanOa.
<br />This Powor ol Allorney Is preme0 an0 la l�gnetl by lacsimlle untlar enE Dy eulhorlty ol t�e lollowing resGlutlone a0optea by I�e raspectivc �oertls ol 0lrector! al INDEMNITV
<br />COMPANY OF CAIIFONNM antl OEVELOPER9 IN6UR�NCE COMV�NY, otlecllva an ol SeD�emEe� 2�. 19B6�
<br />PESOLVED, I�nt ��a C�eumen ol I�a BoerE, tne PresiAont ena any Vlce Pree�Eem ol Ihe corporellon be. an0lhnt aech ol lhem �oraby In. eul�otlted lo ekecma fbwern ol Atlomcy.
<br />Quol�tytrq Ine etlorney�s� named In I�e Powero ol Attorney to oeocute. on De�ell o� Ihe corporetlon, bonUe. unCerlaMtrpr end conVncts ot euretys�iD: enC Uet I�e Secre�nry or eny Asals-
<br />Innt Socretary al t�e corporeuon be, entl eec� ol lhem �ero�y la, eulAorbeO to eneet I�e o.ecuilon ol nny euc� Powe� ol Altomey:
<br />RESOLVED. FUPTMER. Inel t�c elqnoluree ol euc� ollkers mey bo nlllvaE ta eiry suc� Power ol Altornoy or lo nny certllicele mletlnp Uereto 6y lece�mile, en0 eny euch Power ol
<br />Attorney or cerlil�Cnle beerinq suc� lecllmlle 6lqneluref a�ell he va11A en0 �Indlnp upon Ue corporetlon w�en so e111ae0 enE In t�e IUWre wltll rospect lo eny 6ond, underieklnq or
<br />LO�Il6f,� UI BWEIy8111p IO WIIICII II 15 9tlBL119A.
<br />IN W I7NESS W HEREOF, INCEMNITV COMPANY OF CIILIFOHNIA enG OEVELOPER9 INBURANf.E COMPANY have se rerally causeU these prosents lo be elyneE by I�elr resDao-
<br />Iice PresiOonle nnd etlaeted Cy I�elr reepeci"�e Settcteriee I�b let dey ol Aprll, 1997.
<br />INUEMNITY COMOANY OF CALIFONNIA DFVELOVEN8INBURANCE COMPIINY
<br />BY--------.^'."" ' V-_._�"w'_� -'-- ---- °y-----_'"_""""`�`��`."'__`i��— —
<br />D�F.Vmcenll,Jr.� o�y� Den F.Vlncenll.Jr �suq
<br />Y Prosldent ,u°i��ra��t� � Prcs denl a���a��ly^
<br />� . �
<br />+ • Otf 4 � � � � ��11 11. � o
<br />s ATTEST � ipy
<br />ATTEST „�` I9ti W��e
<br />b� Iro�� �i / , "'rto�w`*a
<br />j � jA I /,'/��/��
<br />B''------ --`�"_— -- BY---V�GrKlu'1 —._--
<br />Weltar Cmw� Wellor Crowoll
<br />Sncrelery Secretery
<br />n �`'• � �
<br />� �n[�'::[5. . `; i
<br />STATEOFCAUFORNIA) i � Iv F` ��-�-' ��/
<br />� S5. II
<br />COUNTY OP ORANGE � �� � �� �
<br />tJ�l. i 2 7 I��
<br />On Ap�il 1, 19flJ, Oatoro ma, Tiroea Taalue, pernonelly eppeeraE Dente F. Incentl, Jr. and Wellar Crowell, perennelly known lo me �or prov10eE lo me on Ine Oaele ol salls�eclory
<br />evlGanc9) to Oe I�e perwn�l� w�we neme�a) I5/ere nUUScnDaO lo I�e withln IrolNmanl enE ecMnoW19A0eC lo me thel �e/!ne/t�ey eReCule0l�e sema In �i9/�edlhelr eulhorizeE
<br />cepncNyQe!), Bnd ��et by �Is/her/I�elr elpnature�e) on I�e inetrumant I�o porsop(�J�q�{� B�YW ���M� ol w�ich Ihe parwn�e) acted, eFecute0 t�e Inetrumenl.
<br />WITNESS my hend anE olliclal seel. •C�Ty pF EVERETT
<br />/, Puhl(c Wnrks Dept. 5����� p GICI�L SEAI
<br />��t_�nJt TIR[SATAAFUA
<br />Signnlura__ 7 �� •--�— � ��p - NpUT'PUBI�C�C�UFpqNI�
<br />� PRiNCiPALOFfICEIN
<br />! OR�NGE COUNTV
<br />4� Comnn�m E�p. ��q �. 1995
<br />CERTIFIC�TE
<br />ine unEe•nlpnn0. es Senlor Vice Presitlent al IHDEMNITY COMPANY Oi CALIFONNM, enG Sanlor Vice Presldent ol DEVELOPEPS IN6UR11NCE COMVANY, Uoes he�ety
<br />cerldy I�n11M1e larapolnp enC ettnc�eC Po«er o� Altornoy remalns In lull lorce nnd hes nat baen revoMeE; enA IuhPermore, I�el I�e provlelons ol ��e r6solutlone ol l�e rospectivo
<br />Boordf ol Dlreclorn ol 9eld co�Dorollons sal latl� In I�e Power ol Altarney. ar In lorce es ol l/��/,pnle ol l�ls Con10/ya1�e �
<br />'fhlsCer1111ce�olseRecuteElnl�eClryollrvine,Caldomia,l�is��� Aeyo1�.1�`-"-�—'+`� •187�.
<br />INDEMNITY COMVANY OF CALIFOPNIA DEVELOFERS INSURANCE COMiANY
<br />yP�MY 51H6b91
<br />� �0��lt0���.t, . �,:yp��0,1� f%i1
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<br />B ��.—\ `L(�� --- i ` oera : ey__/�_. \ /L4✓ > III� �
<br />r_ i c. F�eeiyA, , ua� ,; �'_�.c'. FIe6lgar �o � i rQ+'a
<br />Senlor Ncn Pmsiacnt f��C�� P Senbr Vico Pmsldenl �'�i.
<br />ID-JIOREV nl?7
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