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SECTION 00310 BID FORM PROJECT IDENTIFICATION: Town of South Windsor, Connecticut Chapel road Sewer Improvements Project THIS BID IS SUBMITTED TO: Town of South Windsor, Connecticut Office of the Town Manager 1540 Sullivan Avenue South Windsor, CT 06074 ARTICLE 1—BID RECIPIENT 1.01 This Bid is submitted to the Owner, as identified above. 1.02 The undersigned Bidder proposes and agrees, if this Bid is accepted,to enter into an Agreement with Owner in the form included in the Bidding Documents to perform all Work as specified or indicated in the Bidding Documents for the prices and within the times indicated in this Bid and in accordance with the other terms and conditions of the Bidding Documents. ARTICLE 2—BIDDER'S ACKNOWLEDGEMENTS 2.01 Bidder accepts all of the terms and conditions of the Instructions to Bidders, including without limitation those dealing with the disposition of Bid security. This Bid will remain subject to acceptance for 60 days after the Bid opening, or for such longer period of time that Bidder may agree to in writing upon request of Owner. ARTICLE 3—BIDDER'S REPRESENTATIONS 3.01 In submitting this Bid, Bidder represents that: A. Bidder has examined and carefully studied the Bidding Documents, and any data and reference items identified in the Bidding Documents, and hereby acknowledges receipt of the following Addenda: Addendum No. Addendum, Date 1 09/18/2017 B. Bidder has visited the Site, conducted a thorough, alert visual examination of the Site and adjacent areas, and become familiar with and satisfied itself as to the general, local, and Site conditions that may affect cost, progress, and performance of the Work. C. Bidder is familiar with and has satisfied itself as to all Laws and Regulations that may affect cost, progress,and performance of the Work. 13831A D. Bidder has considered the information known to Bidder itself; information commonly known to contractors doing business in the locality of the Site; information and observations obtained from visits to the Site; the Bidding Documents; and any Site-related reports and drawings identified in the Bidding Documents, with respect to the effect of such information, observations, and documents on (1)the cost, progress, and performance of the Work; (2) the means, methods, techniques, sequences, and procedures of construction to be employed by Bidder; and (3) Bidder's safety precautions and programs. E. Bidder agrees, based on the information and observations referred to in the preceding paragraph,that no further examinations, investigations, explorations,tests,studies, or data are necessary for the determination of this Bid for performance of the Work at the price bid and within the times required, and in accordance with the other terms and conditions of the Bidding Documents. F. Bidder is aware of the general nature of work to be performed by Owner and others at the Site that relates to the Work as indicated in the Bidding Documents. G. Bidder has given Engineer written notice of all conflicts, errors, ambiguities, or discrepancies that Bidder has discovered in the Bidding Documents, and confirms that the written resolution thereof by Engineer is acceptable to Bidder. H. The Bidding Documents are generally sufficient to indicate and convey understanding of all terms and conditions for the performance and furnishing of the Work. I. The submission of this Bid constitutes an incontrovertible representation by Bidder that Bidder has complied with every requirement of this Article, and that without exception the Bid and all prices in the Bid are premised upon performing and furnishing the Work required by the Bidding Documents. J. Bidder understands that the Town may, before or after proposal opening and in its sole discretion, clarify, modify, amend or terminate this Bid if the Town determines it is in the Town's best interest. Any such action shall be effected by a posting on the Town's website, www.southwindsor.org, under"Invitations to Bid & Requests for Proposals." Each Bidder is responsible for checking the Town's website to determine if the Town has issued any addenda and, if so, to complete its proposal in accordance with the Bid as modified by the addenda. K. Bidder understands that, if the contract is to be awarded, it will be awarded to the lowest responsive, responsible bidder whose evaluation by Owner indicates to Owner that the award will be in the best interests of the Project. ARTICLE 4—BIDDER'S CERTIFICATION 4.01 Bidder certifies that: A. This Bid is genuine and not made in the interest of or on behalf of any undisclosed individual or entity and is not submitted in conformity with any collusive agreement or rules of any group, association, organization, or corporation; B. Bidder has not directly or indirectly induced or solicited any other Bidder to submit a false or sham Bid; C. Bidder has not solicited or induced any individual or entity to refrain from bidding;and D. Bidder has not engaged in corrupt,fraudulent, collusive, or coercive practices in competing for the Contract. For the purposes of this Paragraph 4.01.1): 13831A 1. "corrupt practice" means the offering, giving, receiving, or soliciting of any thing of value likely to influence the action of a public official in the bidding process; 2. "fraudulent practice" means an intentional misrepresentation of facts made (a) to influence the bidding process to the detriment of Owner, (b) to establish bid prices at artificial non-competitive levels, or (c) to deprive Owner of the benefits of free and open competition; 3. "collusive practice" means a scheme or arrangement between two or more Bidders, with or without the knowledge of Owner, a purpose of which is to establish bid prices at artificial, non-competitive levels;and 4. "coercive practice" means harming or threatening to harm, directly or indirectly, persons or their property to influence their participation in the bidding process or affect the a execution of the Contract. ARTICLE 5—BASIS OF BID 5.01 Bidder will complete the Work in accordance with the Contract Documents for the following price(s): UNIT PRICE SCHEDULE Item Quantity Brief Description of Item Unit Bid Amount No. with Unit Bid Price in Words In Figures In Figures I Lump Sum Mobilization The Sum of$ Forty Eight Thousand Dollars and Zero Cents $ 48,000.00 $48,000.00 Per Lump Sum 2 Lump Sum Rehabilitation, Pre-Installation Cleaning, and Pre/Post CCTV Inspection from Manhole 17- CHPL-23 to Manhole 17-CHPL-22 The Sum of$ One Hundred Fifty Five Thousand Dollars and Zero Cents $ 155,000.00 $ 155,000.00 Per Lump Sum 13831A Item Quantity Brief Description of Item Unit Bid Amount No. with Unit Bid Price in Words In Figures In Figures 3 Lump Sum Rehabilitation,Pre-Installation Cleaning,and Pre/Post CCTV Inspection from Manhole 17- CHPL-22 to Manhole 17-CHPL-21 The Sum of$ One Hundred Ten Thousand Dollars and Zero Cents $ 110,000.00 $ 110,000.00 Per Lump Sum 4 Lump Sum Rehabilitation, Pre-Installation Cleaning,and Pre/Post CCTV Inspection from Manhole 17- CHPL-21 to Manhole 17-CHPL-20 The Sum of$ One Hundred Twenty Five Thousand Dollars and Zero Cents $ 125,000.00 $ 125,000.00 Per Lump Sum 5 Lump Sum Rehabilitation, Pre-Installation Cleaning, and Pre/Post CCTV Inspection from Manhole 17- CHPL-20 to Manhole 17-CHPL-19 The Sum of$ One Hundred Twenty Five Thousand Dollars and Zero Cents $ 125,000.00 $125,000.00 Per Lump Sum 6 Lump Sum Rehabilitation, Pre-Installation Cleaning, and Pre/Post CCTV Inspection from Manhole 17- CHPLXC-09 to Manhole 17-CHPLXC-08 The Sum of$ Seventy Five Thousand Dollars and Zero Cents $ 75,000.00 $ 75,000.00 Per Lump Sum 13831A Item Quantity Brief Description of Item Unit Bid Amount No. with Unit Bid Price in Words In Figures In Figures 7 Lump Sum Rehabilitation, Pre-Installation Cleaning,and Pre/Post CCTV Inspection from Manhole 17- CHPLXC-08 to Manhole 17-CHPLXC-07 The Sum of$ One Hundred Fifteen Thousand Dollars and Zero Cents 115 000.00 $ $ 115,000.00 Per Lump Sum 8 Lump Sum Rehabilitation, Pre-Installation Cleaning, and Pre/Post CCTV Inspection from Manhole 17- CHPLXC-07 to Manhole 17-CHPLXC-06 The Sum of$ One Hundred Ten Thousand Dollars and Zero Cents $ 110,000.00 $ 110,000.00 Per Lump Sum 9 Lump Sum Rehabilitation, Pre-Installation Cleaning, and Pre/Post CCTV Inspection from Manhole 17- CHPL-12 to Manhole 17-CHPL-1 I The Sum of$ Ninety Thousand Dollars and Zero Cents $ 90,000.00 $ 90,000.00 Per Lump Sum 10 Lump Sum Rehabilitation, Pre-Installation Cleaning, and Pre/Post CCTV Inspection from Manhole 17- CHPL-I I to Manhole 17-CHPL-10 The Sum of$ Ninety Thousand Dollars and Zero Cents $ 90,000.00 $ 90,000.00 Per Lump Sum 13831A Item Quantity Brief Description of Item Unit Bid Amount No. with Unit Bid Price in Words In Figures In Figures 11 Lump Sum Rehabilitation, Pre-Installation Cleaning, and Pre/Post CCTV Inspection from Manhole 17- CHPL-10 to Manhole 17-CHPL-09A The Sum of$ Ninety Five Thousand Dollars and Zero Cents $ 95,000.00 $ 95,000.00 Per Lump Sum 12 Lump Sum Rehabilitation, Pre-Installation Cleaning, and Pre/Post CCTV Inspection from Manhole 17- CHPL-09A to Manhole 17-CHPL-09 The Sum of$ Ninety Five Thousand Dollars and Zero Cents $ 95,000.00 $ 95,000.00 Per Lump Sum 13 Lump Sum Rehabilitation, Pre-Installation Cleaning, and Pre/Post CCTV Inspection from Manhole 17- CHPL-09 to Manhole 17-CHPL-08 The Sum of$ One Hundred Fifty Thousand Dollars and Zero Cents $ 150,000.00 $ 150,000.00 Per Lump Sum 14 Lump Sum Rehabilitation, Pre-Installation Cleaning, and Pre/Post CCTV Inspection from Manhole 17- CHPLXC-01 to Manhole 17-CHPL-02 The Sum of$ One Hundred Five Thousand Dollars and Zero Cents $ 105,000.00 $ 105,000.00 Per Lump Sum 13831A Item Quantity Brief Description of Item Unit Bid Amount No. with Unit Bid Price in Words In Figures In Figures 15 Lump Sum Rehabilitation, Pre-Installation Cleaning, and Pre/Post CCTV Inspection from Manhole 17- CHPL-02 to Manhole 17-CHPL-01 The Sum of$ One Hundred Fifty Five Thousand Dollars and Zero Cents $ 155.000.00 $ 155.000.00 Per Lump Sum 16 Lump Sum Rehabilitation, Pre-Installation Cleaning, and Pre/Post CCTV Inspection from Manhole 17- JFBXC-08 to Manhole 17-JFBXC-07 The Sum of$ One Hundred Forty Two Thousand Dollars and Zero Cents $ 142,000.00 $ 142,000.00 Per Lump Sum 17 Lump Sum Install Doghouse Manhole, Extend Force Main and Abandon Existing Manhole The Sum of$ One Hundred Fifteen Thousand Dollars and Zero Cents $ 115,000.00 $ 115,000.00 Per Lump Sum 18 25 CY Ledge Removal(FIXED RATE) The Sum of$ Seventy Five Dollars And Zero Cents $ 75.00 $ 1875.00 Per Cubic Yard 13831A Item Quantity Brief Description of Item Unit Bid Amount No. with Unit Bid Price in Words In Figures In Figures 19 Allowance Uniformed Police Officer Allowance The Sum of$ Twenty Thousand Dollars And Zero Cents $ 20,000.00 Amount in Words 20 Allowance Certified Flagger Allowance The Sum of$_ Twenty Thousand Dollars And Zero Cents $ 20,000.00 Amount in Words TOTAL BID: Total of Items 1 through 20 above. One Million Nine Hundred Forty One Thousand Eight Hundred Seventy Five Dollars and Zero Cents ($ 1,941,875.00 ) (use figures) (use words) ARTICLES-TIME OF COMPLETION 5.02 Bidder agrees that the Work will be substantially complete and will be completed and ready for final payment in accordance with Paragraph 15.06 of the General Conditions on or before the dates or within the number of calendar days indicated in the Agreement. 5.03 Bidder accepts the provisions of the Agreement as to liquidated damages. 13831A ARTICLE 6—ATTACHMENTS TO THIS BID 6.01 The following documents are submitted with and made a condition of this Bid: A. The Bid Form in its Entirety B. Required Bid security; C. Required Qualifications Statement (Section 00405)with supporting data D. Signed Compliance Statement(Section 00406) E. Non-Collusion Affidavit of Prime Bidder(Section 00408) F. List of Proposed Subcontractors; G. Contractor's License No.: 1oq�� ARTICLE 7—DEFINED TERMS 7.01 The terms used in this Bid with initial capital letters have the meanings stated in the Instructions to Bidders,the General Conditions, and the Supplementary Conditions. ARTICLE 8—BID SUBMITTAL BIDDER:[Indicate correct name of bidding entity] m txnkki 00% C'11 g,6l i It S G,w . �\V\rxa (,.ofy a By: [Signature] Printed name .` C'®f PO (If Bidder is a corporation, a limited liability comps y, a partnership, or a joi t venture, atta,S1� evidence of authority to sign.) S�L .® =� EZ Attest: [Signature] Printed name ' ��oC ] q1 uA Vti UM Y�l�l� Title: � G��;i� c Submittal Date: Address forgiving notices: 911 MUAY) SWn ,PO DU IT(6 a Telephone Number: Fax Number: Contact Name and e-mail address: �Lm �J�aS � TWaCM�t�c 0ty1 13831A 00450-1 SECTION 00405 QUALIFICATIONS STATEMENT THE INFORMATION SUPPLIED IN THIS DOCUMENT IS CONFIDENTIAL TO THE EXTENT PERMITTED BY LAWS AND REGULATIONS 1. SUBMITTED BY: Official Name of Firm: Lb DS (,A i All N) Address: Q 0 Q,T t;'iduUNOV, % 1 nnU 2. SUBMITTED TO: JO 0jr, oi 3. SUBMITTED FOR: 4'�tllu� 1 a Av i , w9w b� Owner: Project Name: TYPE OF WORK: 3,I 4. CONTRACTOR'S CONTACT INFORMATION Contact Person: , Title: C,( ( .. '�1� toad any Phone: Email: ul1 L M, '1hX'l EJCDC`C-451,Qualifications Statement. Copyright©2013 National Society of Professional Engineers,American Council of Engineering Companies, and American Society of Civil Engineers.All rights reserved. Page 1 of 12 13831A Bidder's License No.: Lai g Culffiff f ill A G U q VI�to (where applicable) 13831A 00405-2 QUALIFICATIONS STATEMENT 5. AFFILIATED COMPANIES: Name: P Address:'() � 6. TYPE OF ORGANIZATION: ❑ SOLE PROPRIETORSHIP Name of Owner: Doing Business As: Date of Organization: ❑ PARTNERSHIP Date of Organization: Type of Partnership: Name of General Partner(s): ® CORPORATION State of Organization: �� S(,(� MIA A Date of Organization: Q o Executive Officers: - President: 2 0 b� -Vice President(s): :12h� v-- -Treasurer: , EJCDC'C-451,Qualifications Statement. Copyright©2013 National Society of Professional Engineers,American Council of Engineering Companies, and American Society of Civil Engineers.All rights reserved. Page 2 of 11 13831A 00405-3 QUALIFICATIONS STATEMENT -Secretary: �Q�V (�► (��(�L, ❑ LIMITED LIABILITY COMPANY State of Organization: Date of Organization: Members: ❑ JOINT VENTURE Sate of Organization: Date of Organization: Form of Organization: Joint Venture Managing Partner - Name: -Address: Joint Venture Managing Partner - Name: -Address: EJCDC'C-451,Qualifications Statement. Copyright©2013 National Society of Professional Engineers,American Council of Engineering Companies, and American Society of Civil Engineers.All rights reserved. Page 3 of 11 13831A 00405-4 QUALIFICATIONS STATEMENT Joint Venture Managing Partner - Name: -Address: 7. LICENSING Jurisdiction: �QI !=LhE 6 Type of License: License Number: Jurisdiction: Type of License: License Number: 8. CERTIFICATIONS CERTIFIED BY: Disadvantage Business Enterprise: Minority Business Enterprise: Woman Owned Enterprise: Small Business Enterprise: Other( ): 9. BONDING INFORMATION Bonding Company: C&)� an (&DAN Q_;� Address: a'W'M 11L m i"3�� � Job IL' OW Bonding Agent: \N�1 elf, � C,M1A\. , UL Address: Tfto caw bf�'a' lt,kT11- V)u5/�2- EJCDC®C-451,Qualifications Statement. Copyright©2013 National Society of Professional Engineers,American Council of Engineering Companies, and American society of Civil Engineers.All rights reserved. Page 4 of 11 13831A 00405-5 QUALIFICATIONS STATEMENT Contact Name: KA8 Phone: ( �� ` �GJ - LP o Aggregate Bonding Capacity: Available Bonding Capacity as of date of this submittal: 4, T) 10. FINANCIAL INFORMATION Financial Institution: � �' ��� Address: VN �f U l m mn fbiu( du Veit Account Manager: 1J(},mtY , a- r1 Phone: N ) � - y INCLUDE AS AN ATTACHMENT AN AUDITED BALANCE SHEET FOR EACH OF THE LAST 3 YEARS 11. CONSTRUCTION EXPERIENCE: Current Experience: List on Schedule A all uncompleted projects currently under contract (If Joint Venture list each participant's projects separately). Previous Experience: List on Schedule B all projects completed within the last 5 Years (If Joint Venture list each participant's projects separately). Has firm listed in Section 1 ever failed to complete a construction contract awarded to it? ❑YES [XJ NO If YES, attach as an Attachment details including Project Owner's contact information. Has any Corporate Officer, Partner,Joint Venture participant or Proprietor ever failed to complete a construction contract awarded to them in their name or when acting as a principal of another entity? EJCDC'C-451,Qualifications Statement. Copyright©2013 National Society of Professional Engineers,American Council of Engineering Companies, and American Society of Civil Engineers.All rights reserved. Page 5 of 11 13831A 00405-6 QUALIFICATIONS STATEMENT ❑ YES © NO If YES, attach as an Attachment details including Project Owner's contact information. Are there any judgments, claims, disputes or litigation pending or outstanding involving the firm listed in Section 1 or any of its officers (or any of its partners if a partnership or any of the individual entities if a joint venture)? DYES ® NO N ft tlY 1 'N t'1 UP, If YES, attach as an Attachment details including Project Owner's contact information. 12. SAFETY PROGRAM: Name of Contractor's Safety Officer:�Q�1CJ� eQi� Include the following as attachments: Provide as an Attachment Contractor's (and Contractor's proposed Subcontractors and Suppliers furnishing or performing Work having a value in excess of 10 percent of the total amount of the Bid) OSHA No. 500- Log &Summary of Occupational Injuries & Illnesses for the past 5 years. Provide as an Attachment Contractor's (and Contractor's proposed Subcontractors and Suppliers furnishing or performing Work having a value in excess of 10 percent of the total amount of the Bid) list of all OSHA Citations & Notifications of Penalty (monetary or other) received within the last 5 years (indicate disposition as applicable) - IF NONE SO STATE. Provide as an Attachment Contractor's (and Contractor's proposed Subcontractors and Suppliers furnishing or performing Work having a value in excess of 10 percent of the total amount of the Bid) list of all safety citations or violations under any state all received within the last 5 years (indicate disposition as applicable) - IF NONE SO STATE. Provide the following for the firm listed in Section V (and for each proposed Subcontractor furnishing or performing Work having a value in excess of 10 percent of the total amount of the Bid) the following (attach additional sheets as necessary): Workers' compensation Experience Modification Rate (EMR)for the last 5 years: YEAR 'L01"1 EMR •11 YEAR 201� EMR YEAR ! 0 EMR g�pp YEAR /LU`{� EMR ;]9) YEAR EMR EJCDC'C-451,Qualifications Statement. Copyright©2013 National Society of Professional Engineers,American Council of Engineering Companies, and American Society of Civil Engineers.All rights reserved. Page 6 of 11 13831A 00405-7 QUALIFICATIONS STATEMENT Total Recordable Frequency Rate (TRFR) for the last 5 years: YEAR TRFR -1.21 YEAR TRFR YEAR TRFR YEAR �,j�l"7� TRFR tj YEAR TRFR Total number of man-hours worked for the last 5 Years: YEAR l tp TOTAL NUMBER OF MAN-HOURS 1�'�, j�,� V YEAR - r,� TOTAL NUMBER OF MAN-HOURS ICi0,b211.76 YEAR 'Jb 1q TOTAL NUMBER OF MAN-HOURS !I i ci YEAR 1-73 TOTAL NUMBER OF MAN-HOURS iqL C YEAR ,JLJ 1;2 TOTAL NUMBER OF MAN-HOURS (�kQ,'Z2 .•t� Provide Contractor's (and Contractor's proposed Subcontractors and Suppliers furnishing or performing Work having a value in excess of 10 percent of the total amount of the Bid) Days Away From Work, Days of Restricted Work Activity or Job Transfer (DART) incidence rate for the particular industry or type of Work to be performed by Contractor and each of Contractor's proposed Subcontractors and Suppliers)for the last 5 years: YEAR �,b I la DART YEAR ��cj DART YEAR U)jL} DART YEAR 9X i-.,) DART Ly YEAR y DART 13. EQUIPMENT: MAJOR EQUIPMENT: List on Schedule C all pieces of major equipment available for use on Owner's Project. EJCOC®C-451,Qualifications Statement. Copyright©2013 National Society of Professional Engineers,American Council of Engineering Companies, and American Society of Civil Engineers.All rights reserved. Page 7 of 11 13831A 00405-8 QUALIFICATIONS STATEMENT I HEREBY CERTIFY THAT THE INFORMATION SUBMITTED HEREWITH, INCLUDING ANY ATTACHMENTS, IS TRUE TO THE BEST OF MY KNOWLEDGE AND BELIEF. NAME OF ORGANIZATION: g,(A'1 �� l(?�����{�1 t w. BY: ��'� � G)C1�►S t�NQ�Y�l�t� TITLE: I RJA MIYWJ ` VUA �`ORA WW LY DATED: NOTARY ATTEST: SUBSCRIBED AND SWORN TO BEFORE MEJ. �►+�''��~s���"`''ro, THIS 20 DAY OF � 2017 rrG�,•' . ''•� J NOTARY PUBLIC-STATE OF VS' (C'7Yq s A G . MY COMMISSION EXPIRES: •'••,,g��� SGO��o�'� 14004111 REQUIRED ATTACHMENTS 1. Schedule A (Current Experience). 2. Schedule B (Previous Experience). 3. Schedule C (Major Equipment). 5. Evidence of authority for individuals listed in Section 7 to bind organization to an agreement. 6. Resumes of officers and key individuals (including Safety Officer) of firm named in Section 1. EJCDC"C-451,Qualifications Statement. Copyright©2013 National Society of Professional Engineers,American Council of Engineering Companies, and American Society of Civil Engineers.All rights reserved. Page 8 of 11 13831A 00405-1 SCHEDULE A CURRENT EXPERIENCE Project Name Owner's Contact Person Design Engineer Contract Date Type of Work Status Cost of Work //�� ` �,, (� Name: Name: 1 .a UL vl l C N Address: Company: Telephone: Telephone: Name: Name: Address: Company: Telephone: Telephone: Name: Name: Address: Company: Telephone: Telephone: EJCDC'C-451,Qualifications Statement. Copyright©2013 National Society of Professional Engineers,American Council of Engineering Companies, and American Society of Civil Engineers.All rights reserved. Page 9 of 12 13831A 00405-10 QUALIFICATIONS STATEMENT SCHEDULE B PREVIOUS EXPERIENCE(Include ALL Projects Completed within last 5 years) Project Name Owner's Contact Person Design Engineer Contract Date Type of Work Status Cost of Work A Name: Name: Address: Company: Telephone: Telephone: Name: Name: Address: Company: Telephone: Telephone: Name: Name: Address: Company: Telephone: Telephone: Name: Name: Address: Company: Telephone: Telephone: Name: Name: Address: Company: Telephone: Telephone: Name: Name: Address: Company: Telephone: Telephone: Name: Name: Address: Company: Telephone: Telephone: EJCDC"C-451,Qualifications Statement. Copyright©2013 National Society of Professional Engineers,American Council of Engineering Companies, and American Society of Civil Engineers.All rights reserved. Page 10 of 11 13831A 00405-11 QUALIFICATIONS STATEMENT SCHEDULE C- LIST OF MAJOR EQUIPMENT AVAILABLE ITEM PURCHASE DATE CONDITION ACQUIRED VALUE EJCDC'C-451,Qualifications Statement. Copyright©2013 National Society of Professional Engineers,American Council of Engineering Companies, and American Society of Civil Engineers.All rights reserved. Page 11 of 11 13831A 00406-1 SECTION 00406 COMPLIANCE STATEMENT EXECUTIVE ORDER 11246 Date: Ng-611-A This statement relates to a proposed contract with the , who expects to finance the contract with assistance from an agency of agencies of the United States Government. I am the undersigned bidder or prospective contractor. I represent that----- I I 5 `have, ❑ have not,participated in a previous contract or subcontract subject to Executive Order 11246 (regarding equal employment opportunity) or a preceding similar Executive Order. 2. If I have participated in such a contract or subcontract, 1 9 have, ❑ have not, filed all compliance reports that I have been required to file in connection with the contract or subcontract. I understand that if I have failed to file any compliance reports that have been required of me,I am not eligible and will not be eligible to have my bid considered or to enter into the proposed contract unless and until I make an arrangement regarding such reports that is satisfactory to the office where the reports are required to be filed. Signature of Bidder or Prospective Contractor M att 4UW1 - Relm om Nl vjnN cv Address: Street, P.O. Box, etc. �)'CO kxk sy ke w1 City, State and Zip Code (This page to be completed by the Bidder and submitted with his Bid Form) END OF SECTION 13831A 00408-1 SECTION 00408 NON-COLLUSION AFFIDAVIT OF PRIME BIDDER State of: � �51 County of: ®AM) U ff Mbar , being first duly sworn, deposes and says that: 1. Bidder is %5�M A(n�Ur 1i►lU &d\V 6 t vw)u S ofd T"an of 1 the Bidder that has submitted the attached Bid; 2. Bidder is fully informed respecting the preparation and contents of the attached Bid and of all pertinent circumstances respecting such Bid; 3. Such Bid is genuine and is not a collusive or sham Bid; 4. Neither the said Bidder nor any of its officers, partners, owners, agents, representatives, employees of parties of interest, including this affiant, has in any way colluded, conspired, connived or agreed, directly or indirectly with any other Bidder, firm or person to submit a collusive or sham Bid in Connection with the Contract for which the attached Bid has been submitted or to refrain from bidding in connection with such Contract, or has in any manner, directly or indirectly, sought by agreement or collusion or communication or conference with any other Bidder, firm or person to fix the price or prices in the attached Bid or of any other Bidder, or to fix any overhead,profit or cost element of the Bid price or the Bid price of any Bidder, or to secure through any collusion, conspiracy, connivance or unlawful agreement of any advantage against the Town of South Windsor(Owner) or any person interested in the proposed Contract; and 5. The price or prices quoted in the attached Bid are fair and proper and are not tainted by any collusion, conspiracy, connivance or unlawful agreement on the part of the Bidder or any of its agents, representatives, owners, employees, or parties in interest, including this affiant. (Signed) ram"«.•N+..,,,,� (Title) 00:NOLA_S C t Subscribed and sworn to before me this day of< l? r No s ` � A i (Title) ��,'•, �B L I C ; My Commission Expires on 5 ° "-a,;,,,,,,��Na•` (This page to be completed by the Bidder and submitted with his/her Bid Form.) END OF SECTION 13831A 0 CUMERS JOINT TTTE�lCT PENAL SUM FORM 6C]CIiMENTS WMb1lTTEE 00410-1 SECTION 00410 BID BOND Any singular reference to Bidder,Surety,Owner or other party shall be considered plural where applicable. BIDDER(Name andAddress): Michels Corporation 817 W. Main Street Brownsville, WI. 53006 SURETY(Name, and Address of Principal Place of Business): Continental Casualty Company 333 S. Wabash Avenue 41st Street Chicago, Il. 60604 OWNER(Name and Address): Town of South Windsor 1540 Sullivan Avenue South Windsor, CT. 06074 BID Bid Due Date: September 21st 2017 Description (Project Name--Include Location): Chapel Road Sewer Improvements Bid 4 2017-01 BOND Bond Number: N/A Date: September 21st 2017 Penal sum Five Percent of Amount Bid $ 5% (Words) (Figures) Surety and Bidder,intending to be legall` RouvA*reby, subject to the terms set forth below,do each cause this Bid Bond to be duly executed by `0u �j 'fy�er,agent,or representative. BIDDER o0Nf��; RETY Michels Corporation ®``� ••• '� ( ;Q&tinental Casualty Com an (Seal) Bidder's Name and Corporate Sealg:� S L u&ty's Name and Corporate Seal Signature ''�i,, ;SC6p15`��.�`°� Signature (Attach Power of Attorney)Ann Marie Waters Print Name Print Name m .R&� Attorney In Fact Title U Title Attest: �ha�) Attest: Signature MCI \N At t wVM Sign re Yadira Montero Witness for Surety Title COA--V�afV1- U0 (�kj-\(XW Title EJCDC®C-430,Bid Bond(Penal Sum Form).Published 2013. Prepared by the Engineers Joint Contract Documents Committee, Page 1 of 2 1383)1A F,.fCDC PENAL SUM FORM iNGit£Ffl$WHKT CAT,1 CT UG.^,VnT[,yTS CUa1G11TTSE. 00410-2 BID BOND Note:Addresses are to be used for giving any required notice. Provide execution by any additional parties, such as joint venturers, if necessary. 1. Bidder and Surety,jointly and severally, bind themselves,their heirs, executors, administrators, successors, and assigns to pay to Owner upon default of Bidder the penal sum set forth on the face of this Bond. Payment of the penal sum is the extent of Bidder's and Surety's liability. Recovery of such penal sum under the terms of this Bond shall be Owner's sole and exclusive remedy upon default of Bidder. 2. Default of Bidder shall occur upon the failure of Bidder to deliver within the time required by the Bidding Documents(or any extension thereof agreed to in writing by Owner) the executed Agreement required by the Bidding Documents and any performance and payment bonds required by the Bidding Documents, 3. This obligation shall be null and void if: 3.1 Owner accepts Bidder's Bid and Bidder delivers within the time required by the Bidding Documents(or any extension thereof agreed to in writing by Owner) the executed Agreement required by the Bidding Documents and any performance and payment bonds required by the Bidding Documents,or 3.2 All Bids are rejected by Owner,or 3.3 Owner fails to issue a Notice of Award to Bidder within the time specified in the Bidding Documents(or any extension thereof agreed to in writing by Bidder and,if applicable,consented to by Surety when required by Paragraph 5 hereof). 4. Payment under this Bond will be due and payable upon default of Bidder and within 30 calendar days after receipt by Bidder and Surety of written notice of default from Owner,which notice will be given with reasonable promptness,identifying this Bond and the Project and including a statement of the amount due. 5. Surety waives notice of any and all defenses based on or arising out of any time extension to issue Notice of Award agreed to in writing by Owner and Bidder,provided that the total time for issuing Notice of Award including extensions shall not in the aggregate exceed 120 days from the Bid due date without Surety's written consent. 6. No suit or action shall be commenced under this Bond prior to 30 calendar days after the notice of default required in Paragraph 4 above is received by Bidder and Surety and in no case later than one year after the Bid due date. 7. Any suitor action under this Bond shall be commenced only in a court of competent jurisdiction located in the state in which the Project is located. 8. Notices required hereunder shall be in writing and sent to Bidder and Surety at their respective addresses shown on the face of this Bond. Such notices may be sent by personal delivery, commercial courier, or by United States Registered or Certified Mail,return receipt requested,postage pre-paid,and shall be deemed to be effective upon receipt by the party concerned. 9. Surety shall cause to be attached to this Bond a current and effective Power of Attorney evidencing the authority of the officer, agent, or representative who executed this Bond on behalf of Surety to execute, seal,and deliver such Bond and bind the Surety thereby. 10. This Bond is intended to conform to all applicable statutory requirements. Any applicable requirement of any applicable statute that has been omitted from this Bond shall be deemed to be included herein as if set forth at length.If any provision of this Bond conflicts with any applicable statute,then the provision of said statute shall govern and the remainder of this Bond that is not in conflict therewith shall continue in full force and effect. 11. The term`Bid"as used herein includes a Bid, offer,or proposal as applicable. 13831A STATE OF ILLINOIS COUNTY OF DuPAGE I, Christine Eitel Notary Public of DuPage County, in the State of Illinois do hereby certify that Ann Marie Waters Attorney-in-Fact, of the Continental Casualty Company who is personally known to me to be the same person whose name is subscribed to the foregoing instrument, appeared before me this day in person, and acknowledged that she signed, sealed and delivered said instrument, for and on behalf of the Continental Casualty Company for the used and purposes therein set forth. Given under my hand and notarial seal at my office in the City of Lisle in said County, this 21st day of September A.D., 2017. (Notary Public) Christine Eitel My Commission expires: 05/26/2020 Notary Seal: ["OI"EICIAL SEAL." �' CHRISTINE EITEL NOTARY PUBLIC,STATE OP IR LINOI:COMMISSION EXPIRES 5/2£/2()2S0 POWER OF ATTORNEY APPOINTING INDIVIDUAL ATTORNEY-IN-FACT Know All Men By These Presents,That Continental Casualty Company,an Illinois insurance company,National Fire Insurance Company of Hartford,an Illinois insurance company,and American Casualty Company of Reading,Pennsylvania,a Pennsylvania insurance company(herein called "the CNA Companies"),are duly organized and existing insurance companies having their principal offices in the City of Chicago,and State of Illinois, and that they do by virtue of the signatures and seals herein affixed hereby make,constitute and appoint William P Weible, Harriet R Reilly, William Cahill, Kimberly Sawicki, Karen A Ryan, Kimberly R Holmes, Deborah A Campbell,Leigh Ann Francis,Ann Marie Waters,Christine Eitel,Richard A Freebourn Jr,Individually of Lisle,IL,their true and lawful Attorney(s)-in-Fact with full power and authority hereby conferred to sign,seal and execute for and on their behalf bonds,undertakings and other obligatory instruments of similar nature -In Unlimited Amounts- and to bind them thereby as fully and to the same extent as if such instruments were signed by a duly authorized officer of their insurance companies and all the acts of said Attorney,pursuant to the authority hereby given is hereby ratified and confirmed. This Power of Attorney is made and executed pursuant to and by authority of the By-Law and Resolutions,printed on the reverse hereof,duly adopted,as indicated,by the Boards of Directors of the insurance companies. In Witness Whereof,the CNA Companies have caused these presents to be signed by their Vice President and their corporate seals to be hereto affixed on this 16th day of May,2017. �P�GA3tIq<l` %HSUgq va Continental Casualty Company O ��� 'E � National Fire Insurance Company of Hartford F °oAPORATE Q ; .�t�+°°Rgrfo American Cas alty Company of Reading,Pennsylvania O 2 y s DULY 31, t� SEAL 'r �, - � 1902 1897 NARK b • Paul T.Bruflat Vice President State of South Dakota,County of Minnehaha,ss: On this 16th day of May,2017,before me personally came Paul T.Bruflat to me known,who,being by me duly sworn,did depose and say: that he resides in the City of Sioux Falls,State of South Dakota;that he is a Vice President of Continental Casualty Company,an Illinois insurance company, National Fire Insurance Company of Hartford,an Illinois insurance company,and American Casualty Company of Reading,Pennsylvania,a Pennsylvania insurance company described in and which executed the above instrument;that he knows the seals of said insurance companies;that the seals affixed to the said instrument are such corporate seals;that they were so affixed pursuant to authority given by the Boards of Directors of said insurance companies and that he signed his name thereto pursuant to like authority,and acknowledges same to be the act and deed of said insurance companies. J.MOHR NOTARYPUBUC r SOUTH OAKOTA U My Commission Expires June 23,2021 J.Mohr Notary Public CERTIFICATE I,D.Johnson,Assistant Secretary of Continental Casualty Company,an Illinois insurance company,National Fire Insurance Company of Hartford, an Illinois insurance company,and American Casualty Company of Reading,Pennsylvania,a Pennsylvania insurance company do hereby certify that the Power of Attorney herein above set forth is still in force,and further certify that the By-Law and Resolution of the Board of Directors of the insurance companies printed on the rev s he eof is still in forke. In stimo o whereof I have hereunto subscribed my name and affixed the seal of the said insurance companies this , day off, �GASt1q�T �NSURgH `o�vAHYco� Continental Casualty Company Aa National Fire Insurance Company of Hartford F� CORPoaAre 4� ; �� �40"ON eb American Casualty Company of Reading,Pennsylvania O 2 r a JULY 31, h SEAL ISR a 1897 NA R b • ♦ � �� D.Johnson Assistant Secretary Form F6853-4/2012 Authorizing By-Laws and Resolutions ADOPTED BY THE BOARD OF DIRECTORS OF CONTINENTAL CASUALTY COMPANY: This Power of Attorney is made and executed pursuant to and by authority of the following resolution duly adopted by the Board of Directors of the Company at a meeting held on May 12, 1995: "RESOLVED: That any Senior or Group Vice President may authorize an officer to sign specific documents,agreements and instruments on behalf of the Company provided that the name of such authorized officer and a description of the documents,agreements or instruments that such officer may sign will be provided in writing by the Senior or Group Vice President to the Secretary of the Company prior to such execution becoming effective." This Power of Attorney is signed by Paul T. Bruflat, Vice President, who has been authorized pursuant to the above resolution to execute power of attorneys on behalf of Continental Casualty Company. This Power of Attorney is signed and sealed by facsimile under and by the authority of the following Resolution adopted by the Board of Directors of the Company by unanimous written consent dated the 25`h day of April,2012: "Whereas, the bylaws of the Company or specific resolution of the Board of Directors has authorized various officers (the"Authorized Officers") to execute various policies,bonds,undertakings and other obligatory instruments of like nature;and Whereas,from time to time,the signature of the Authorized Officers,in addition to being provided in original,hard copy format,may be provided via facsimile or otherwise in an electronic format(collectively,"Electronic Signatures");Now therefore be it resolved: that the Electronic Signature of any Authorized Officer shall be valid and binding on the Company." ADOPTED BY THE BOARD OF DIRECTORS OF NATIONAL FIRE INSURANCE COMPANY OF HARTFORD: This Power of Attorney is made and executed pursuant to and by authority of the following resolution duly adopted by the Board of Directors of the Company by unanimous written consent dated May 10, 1995: "RESOLVED: That any Senior or Group Vice President may authorize an officer to sign specific documents,agreements and instruments on behalf of the Company provided that the name of such authorized officer and a description of the documents,agreements or instruments that such officer may sign will be provided in writing by the Senior or Group Vice President to the Secretary of the Company prior to such execution becoming effective." This Power of Attorney is signed by Paul T. Bruflat, Vice President, who has been authorized pursuant to the above resolution to execute power of attorneys on behalf of National fire Insurance Company of Hartford. This Power of Attorney is signed and sealed by facsimile under and by the authority of the following Resolution adopted by the Board of Directors of the Company by unanimous written consent dated the 25`h day of April,2012: "Whereas, the bylaws of the Company or specific resolution of the Board of Directors has authorized various officers (the"Authorized Officers") to execute various policies,bonds,undertakings and other obligatory instruments of like nature;and Whereas,from time to time,the signature of the Authorized Officers,in addition to being provided in original,hard copy format,may be provided via facsimile or otherwise in an electronic format(collectively,"Electronic Signatures");Now therefore be it resolved: that the Electronic Signature of any Authorized Officer shall be valid and binding on the Company." ADOPTED BY THE BOARD OF DIRECTORS OF AMERICAN CASUALTY COMPANY OF READING,PENNSYLVANIA: This Power of Attorney is made and executed pursuant to and by authority of the following resolution duly adopted by the Board of Directors of the Company by unanimous written consent dated May 10,1995: "RESOLVED: That any Senior or Group Vice President may authorize an officer to sign specific documents,agreements and instruments on behalf of the Company provided that the name of such authorized officer and a description of the documents,agreements or instruments that such officer may sign will be provided in writing by the Senior or Group Vice President to the Secretary of the Company prior to such execution becoming effective." This Power of Attorney is signed by Paul T. Bruflat, Vice President, who has been authorized pursuant to the above resolution to execute power of attorneys on behalf of American Casualty Company of Reading,Pennsylvania. This Power of Attorney is signed and sealed by facsimile under and by the authority of the following Resolution adopted by the Board of Directors of the Company by unanimous written consent dated the 25`h day of April,2012: "Whereas,the bylaws of the Company or specific resolution of the Board of Directors has authorized various officers (the"Authorized Officers") to execute various policies,bonds,undertakings and other obligatory instruments of like nature;and Whereas,from time to time,the signature of the Authorized Officers,in addition to being provided in original,hard copy format, may be provided via facsimile or otherwise in an electronic format(collectively,"Electronic Signatures");Now therefore be it resolved: that the Electronic Signature of any Authorized Officer shall be valid and binding on the Company." t)17ke of the Sccretary ()I,tile State of,Connecticut I, the Connecticut Secretary of the State, and keeper of the seal thereof, DO HEREBY CERTIFY, that MICHELS CORPORATION a corporation incorporated under the laws of WISCONSIN and transacting business in the state of Connecticut under the name MICHELS CORPORATION filed an application for certificate of authority to transact business in this office on December 03, 1987. An amendment certificate of authority for MICHELS PIPELINE CONSTRUCTION, INC., changing its name to MICHELS CORPORATION, was filed on January 16, 2001. A certificate of withdrawal has not been filed, the corporation has filed all annual reports, and so far as indicated by the records of this office such corporation is authorized to transact business in Connecticut. I Secretary of the State Date Issued: October 28, 2014 Business ID: 0209936 Standard Certificate Number: 2014306067001 Note: To verify this certificate,visit the web site http://www.concord.sots.ct.gov MICHELS° Backlog and Projects in Progress Michels has over 200 jobs in progress at any given time and has already secured various construction projects slated for completion in 2017 and 2018. Our current workload changes on a weekly basis, and while we can report generally on our customers and the work we have previously performed, all other ongoing construction may be contractually proprietary in nature and subject to confidentiality provisions of those contracts. However, our current workload and backlog do not in any way limit our ability to take on more work. MICHELS a QUALIFICATION STATEMENT Michels Pipe Services,a division of Michels Corporation has successfully installed over 5.1 Million linear feet of CIPP and has completed approximately 50,000 lateral reinstatements. We are a licensed installer for Premier-Pipe USA,in accordance with ASTM 1216 and ASTM D5813. The product manufacturer is Applied Felts,Inc.,in accordance with ASTM F1216,ASTM F 1743 and ASTM-D5813. Attached for your review are certification letters from Premier-Pipe USA and Applied Felts,Inc.and project references. If you have any questions,please contact me at(920) 924-4300 x2594. Sincerely, 3"� KELSEY SCHULTZ Michels Pipe Services/a div of Michels Corporation kschultz@michels.us Enclosure(s) LIED FELTS Product Information AquaCur& Inversion Tube DESCRIPTION A multiple layer felt liner with impermeable coating conforming to ASTM-1216. APPLICATION Installation Method: Inversion Impregnation Method: Vacuum impregnation and pressure rollers CURING METHODS Resin Type Coating WarmWater<50°C Hot Water<90°C Steam<110"C Polyester Polyurethane Yes Yes Yes PVC Yes N'A MA Vinyl Ester Polyurethane N.�A Yes Yes PVC NA N.A RA Epoxy Polyurethane I Yes Yes Yes PVC Yes Ni R Nr'R N/A= Not Applicable N/R= Not Recommended DIAMETER RANGE Generally(6"to 80") THICKNESS RANGE 1.5mm to 100mm AVAILABLE MANUFACTURED LENGTHS Any length made to order This Product Information sheet gives general information. Exact coating type and thickness will depend on the specific types of resin being used. Please contact our Technical Teatn for specific advice. 450 College Drive,Martinsville,Virginia 24112 (P)276-656-1904 (F) 276-656-1909 office@appliedfelts.com LIED FELTS Product Information CalHose PP - PU Coated Felt Calibration Hose DESCRIPTION A single layer felt liner with impermeable coating used to inflate AquaCure 13I'11 liners and form a permanent composite. Conforms to ASTM-1743. APPLICATION Installation Method: Inversion Impregnation Method: When impregnation is required, by pressure roller with or without vacuum Curing Method: Hot water or steam cured Specific installation details: See Liner System Training Documentation DIAMETER RANGE 8" to 80" THICKNESS RANGE 1.5mm to 6.Omm AVAILABLE MANUFACTURED LENGTHS Any length made to order This Product Information sheet gives general information. Exact coating type and thickness will depend on the specific types of resin being used. Please contact our Technical Team for specific advice. 450 College Drive,Martinsville,Virginia 24112 (P) 276-656-1904(F) 276-656-1909 office@appliedfelts.com LIED FELTS Product Information Steam Cure® —Internally PU Coated Felt Lining Materials Contained in Outer PVC Coated Felt DESCRIPTION A felt liner with an impermeable coating on both the inside and the outside conforming to ASTM-1743. APPLICATION Installation Method: Pull in by hand or winch Impregnation Method: Vacuum and rollers Curing Method: Steam DIAMETER RANGE (8" to 35") THICKNESS RANGE Minimum 4.5mm AVAILABLE IN (8" to 15") Fd up to maximum 600 LF MANUFACTURED LENGTHS >(15")0 up to maximum 450 LF This Product Information sheet gives general information.Exact coating type and thickness will depend on the specific types of resin being used. Please contact our Technical Team for specific advice. 450 College Drive,Martinsville,Virginia 24112 (P) 276-656-1904(F)276-656-1909 office@appliedfelts.com LIED FELTS Product Information AquaCure PI® -Pull-in (Drag-in) Liner DESCRIPTION A single or multiple layer liner with impermeable coating conforming to ASTM-1743. APPLICATION Installation Method: Pull in by hand or winch Use PU Coated CalHose PI''to inflate. Impregnation Method: Pressure roller with or without vacuum Coating Types: Polyurethane or PVC Curing Method: Hot water or steam cured Specific Installation Details: See Liner System Training Documentation DIAMETER RANGE 8" to 80" THICKNESS RANGE 3.Omm to I OOmm AVAILABLE MANUFACTURED LENGTHS Any length made to order This Product Information sheet gives general information. Exact coating type and thickness will depend on the specific types of resin being used. Please contact our Technical Team for specific advice. 450 College Drive,Martinsville,Virginia 24112 (P)276-656-1904(F)276-656-1909 office@appliedfelts.com A WORLD OF FIBRES .'7 j . 1 t LIED FELTS Applied Felts, Inc. 450 College Drive,Martinsville,Virginia 24112 Telephone (276)656-1904 Fax: (276)656-1909 office@appliedfelts.com appliedfelts.com February 9, 2015 To Whom It May Concern: This letter certifies that Applied Felts manufactured tubes meet the material requirements of ASTM F1216-09 (paragraph 5.1) and ASTM F 1743-08(section 6) as well as meet the minimum strength requirements of ASTM-135813-04 (paragraph 6.1). All our materials and finished products are tested to ensure suitability to the application. Each liner is typically tested in 28 different ways and traceable test data is available for any particular liner. Applied Felts has provided polymer coated felt tubes for use in Cured In Place Pipe (CIPP)lining for more than fifteen years, and supplied materials for the CIPP industry for more than twenty years. Over 75 million feet of our liner has been successfully installed in North America. Our liners are assembled in Martinsville, VA, using only components made in the USA. Applied Felts is a registered ISO 9001:2008 company. Sincerely, W. Mark Sanders General Manager City/County `e_ Commonwealth of Virginia The foregoing instrument was acknowledged before me this day ofVe,,bwL,%x , 2015 by William M. Sanders. Notary Public My Commission Expires b s o ao L$ FAYE M BELCHER NOTARY PUBLIC REG.#206446 COMMONWEALTH OF VIRGINIA MY COMMISSION EXPIRES JUNE 30,2018 bste 8y Royal Charter Certificate of Registration COPY QUALITY MANAGEMENT SYSTEM - ISO 9001:2008 This is to certify that: Applied Felts Inc. 450 College Drive Martinsville Virginia 24112 USA Holds Certificate No: FM 55735 and operates a Quality Management System which complies with the requirements of ISO 9001:2008 for the following scope: Manufacture of textile products used in pipeline rehabilitation. t For and on behalf of BSI: Pietro Foschi- Strategic Delivery Director Originally registered: 08/15/2000 Latest Issue: 03/05/2015 Expiry Date: 05/31/2018 bsi Page: 1 of 1 Y � AF ° l F E° ..making excellence a habit'" M.:'JM:E`A'.YT$it 1FUC ;:Tyne .dmwftk-� PREMIER-PIPE USA "Common Sense Solutions" September 26, 2016 To Whom It May Concern: This letter certifies that Michels Pipe Services, a division of Michels Corporation, is a certified licensed and trained installer of the Premier-Pipe process(a CIPP process)as certified by Premier-Pipe USA. Michels Pipe Services has been a trained and certified installer since 2002 with documented footage installed in the United States in excess of 5,000,000 linear feet. J.W.M. Environmental, Inc. is the Licensor of Premier-Pipe USA and Premier-Pipe Canada. The Premier-Pipe group of licensees has successfully installed over 15,000,000 linear feet. J.W.M. Environmental, Inc.certifies that all CIPP liners installed by Michels Pipe Services meets or exceeds the recognized organizational standards of ASTM F1216 latest edition. If you have any questions, please contact me at 612-385-4101. Sincerely, J.W.M. Environmental, Inc./Premier-Pipe USA i •, -l�f�/���/; fir_ James Mortell,Jr. President Premier-Pipe USA*P.O.Box 9*Tipp City,Ohio 45371 INTERPLASTIC CORPORATION Thermoset Resins Division 1225 Willow Lake Boulevard Saint Paul,Minnesota 55 1 10-5 145 (651)481-6860 Fax(65 l)481-9836 February 11, 2016 To Whom It May Concern: You have requested information on a cured-in-place pipe (CIPP) resin manufactured by Interplastic Corporation, COR72-AT-470HT. This resin has been manufactured by Interplastic Corporation for over twenty five (25) years and over 270 million pounds has been used to successfully renovate deteriorated sewer and storm water lines. Interplastic Corporation is certified under IS09001-2008. This resin meets the requirements found in ASTM F1216, ASTM F1743, and ASTM D- 5813 from the standpoint of achievable mechanical properties and corrosion resistance. This resin has also been tested under ASTM D2990 and exhibits a creep retention factor of 50%. Michels Pipe Services have successfully used this resin to renovate deteriorated lines using the CIPP process. The formulation for this resin includes a resin enhancer which allows the system to exhibit higher mechanical properties. Resin formulations for Interplastic Corporation are proprietary. The enhancer amount used in the resin is approximately 25%. The enhancer and resin form an acceptable bond resulting in the increased properties. This system is designed to be used in an aqueous environment. I hope that this information proves to be useful. Please contact me at 281-687-8617 if you have additional questions or comments on this matter. Sincerely, 1<'&&—d Kaleel Rahaim OH Business Manager Remediation Polymers Thermoset Resins Division / Cc: Nicole Kleweno �1 a SHELLY M. ANDRUS Notary Public-MjnrNMta .:r.M My commis"WW v.r EXpitge An 31,2020 ASHLAND. Ashland Performance Materials 5200 Blazer Parkway,Dublin,OH 43017 P.O.Box 2219,Columbus,OH 43216 I March 29, 2015 i I Mr. Carey Preston Michels Pipe Services 817 West Main Street l Brownsville, WI 53006 i Dear Carey: Subject: Certification of Suitability of Use and Compatibility with Felt Materials Ashland Performance Materials Company certifies that AROPOLTm LB 1043 isophthalic polyester resin is designed for, and suitable for, cured-in-place pipe (CIPP) rehabilitation applications as prescribed by ASTM F1216, ASTM D5813, ASTM F1743 and is fully compatible with all known commercially available PET felts utilized by the CIPP rehabilitation industry. Ashland Performance Materials Company polymers have a more than twenty year history of successful utilization within the CIPP rehabilitation industry. These resins have been designed specifically for CIPP rehabilitation processes, materials, installation procedures, and handling requirements. If you need further assistance, please contact Don Kelley, Research Scientist. Phone: 806-358-9245 Cell: 806-282-1485 The foregoing instrument was E-mail: dhkellevCcDashland.com acknowledged before me this?2 da o by Y Sincerely, j Eileen ands 4ars d Fred Good, Ph.D. Vice President, Global Technology Ashland Performance Materials Cc: Dave Lemke Notice:The laboratory data and results presented herein were obtained through the use of specific methods determined by Ashland.Ashland does not guarantee duplication of such results by third parties. All data presented is provided gratuitously and, although it is intended to be accurate in regard to the subject matter involved, it is provided without warranty of any kind, and any and all warranties, either express or implied,are disclaimed.All recommendations or suggestions contained herein or based hereon must be evaluated by you to determine their applicability or suitability for your particular use. All precautionary labels and notices should be read and understood by all supervisory personnel and employees before using.Consult Ashland and OSHA regulations for additional safety and health information.Purchaser is responsible for complying with all applicable federal, state or local laws and regulations covering use of the product.Special attention should be given to consumer applications.Freedom to use any patent owned by Ashland or others is not to be Inferred from any statement contained herein. TM Trademark of Ashland Inc. EILEEN POUNDS NOTARY PUBLIC,STATE OF ONO UNION COUNTY Flycaftmle nERpkaI'M118 ■��� �'����� II���� �■�n i�ei�� n■iuu ��■n ��� min � ��i = i� �m �u�� m■rin� � n i��■ m ���� ,n i �� �� ��IA� I A�� iu� iiiii��i��l iiu i °1 iu�� u iiiii � � �■� �■ � � i� ���II ���il II is�nn �nnw■ei �nnr s�nu■"i ■�m� � ��iiiiii� u � ............ .............. . ......... ........ ..... ........ II ���� � ��� � � �' I I li IIlllllnllll� I�III 1■��IIII■NI■IIRIIIII�II ������ � � � 0 �� �iAen�i��mnn■�n ��� ����������f������ � inn �'�i'�ii�iiii�!!!!l ���,�� � � Iiii��ii i�ie�e■'�� � !��� I NI�II�III I�lilll �l�ll �I� i��iii■ni�ii��i iii iii�i ����i� i�i�i�iio I III III III II I � �I � I� II �� iuwm io n III ��oEMISSIONS loolillill m� inn n�■i n�nui� inn nni i ��■�o 'inn ee' II III IAI■II li�lll n I�I� AI�u� II INII 111111 1 Michels Corporation Partial Reference List LocationV.I., 16 Inch 1 n 1- 4 n h -in 2016 Redmond,WA $ 32,363 AI is Const A,J.Silvers 206-725=0385 191 191 2016 San Carlos,CA $ 45,529 KJ Woods Ron Zela a 510-303-9591 133 133 2016 Vallejo,CA $ 59,915 Lennar Mare Island Bran McDonough 707-5624000 280 280 2016 Vemalis,CA $ 26,401 CCFG Constm Lion Mike Niven 209.7434911 67 67 Totals b Dia—> 143 252 878 078 161 151 15]]69 ]2 224 9 775 59 187 24 944 74 9]8 22191 40 408 11 341 34 209 4126 15 694 8147 2 284 10 346 2 580 806 1 188 2 685 1 715 363 Page 7 Reference/Experience List MICHELS° Cured-In-Place Pipe Date Client Contact Phone No. Diameter Cured-In-Place Pipe Rehabilitation Location Value 2016 COLLUCIO CONSTRUCTION FRANK COLLUCIO (808)682-4477 20T OF 42 INCH;43'OF 48 INCH HONOLULU,HI $ 2291732 2016 NAPA SANITATION DISTRICT MATT LEMMON (717)258-6004 110'OF B INCH NAPA,CA $ 47,985 2016 CONLEY GEN EXCAVATING GEOFF CONLEY (831)429-8111 54'OF 18 INCH;70'OF 24 INCH;242'OF 36 INCH;94'OF 54 INCH SANTA MARGARITA,CA $ 156,373 2016 NOVATO SAN DISTRICT STEVE KRAUTHEIM 415 892-1694 909'OF 18 INCH NOVATO,CA $ 324,394 2016 TULLIS INC KELLI BROWN (530)241-5105 150'OF 48 INCH OBRIEN,CA $ 93,713 2016 NORTHSTAR CONSTRUCTION ABRAHAM VANG (530)673-1732 298'OF 10 INCH;16T OF 12 INCH;32'OF 15 INCH;239'OF 18 INCH;52' SACRAMENTO,CA OF 24 INCH;282'OF 36 INCH $ 150,764 2016 ICCFG CONSTRUCTION MIKE NIVEN 209 743-4911 6T OF 24 INCH VERNALIS,CA $ 26,401 2016 NAPA SANITATION DISTRICT MATT LEMMON (717)258-6004 1,164'OF 6 INCH;2,371'OF 8 INCH;1,356'OF 10 INCH;788'OF 12 INCH NAPA,CA $ 263,208 2016 CALTRANS 03-4104504 CORY BINNS (916)227-6299 81'OF 12 INCH;1,160'OF 18 INCH;210'OF 24 INCH SCOTTS FLAT,CA $ 349,941 2016 LENNAR MARE ISLAND BRIAN MCDONOUGH (707)562-4000 280'OF 21 INCH VALLEJO,CA $ 59,915 2016 DON GARCIA DANA BOATWRIGHT 530 577-0558 370'OF 18 INCH;80'OF 24 INCH EMERALD BAY,CA $ 183,949 2016 KJ WOODS RON ZELAYA (510)303-9591 13T OF 27 INCH SAN CARLOS,CA $ 45,529 2016 CITY OF NEWBERG MIKE CONWAY (503)537-1234 38T OF 8 INCH NEWBERG,OR $ 19,116 2016 CITY OF OREGON CITY STAN ORR (503)496-1510 200'OF 8 INCH OREGON CITY,OR $ 17,574 2016 CITYOFNEWBERG MIKE CONWAY 503 537-1234 150'OF 12 INCH NEWBERG,OR $ 16,982 2016 JOHN RICE EXCAVATING JOHN RICE (503)674-8400 294'OF 12 INCH GRESHAM,OR $ 29,232 2016 EMERY&SONS TORNI KING (503)588-7576 95'OF 10 INCH KEIZER,OR $ 16,054 2016 CITY OF MT ANGEL JOHN YARNALL 503 585-2474 34'OF 8 INCH;518'OF 10 INCH;259'OF 12 INCH MT ANGEL,OR $ 74,155 2016 CITY OF MEDFORD TOM SUTTLE 541 774-2757 11 8'OF 48 INCH MEDFORD,OR $ 168,595 2016 REGENCY NW ARTHUR ALPER (425)883-1301 70'OF 15 INCH SEATTLE,WA $ 31.998 2016 CITY OF CHEHALIS MIKE MARSHALL (360)352-1120 175'OF 6 INCH;3,332'OF 8 INCH;3,956'OF 12 INCH CHEHALIS,WA $ 588,159 2016 OXBOW CONSTRUCTION JIM HALL 503 806-1312 767'OF 27 INCH;254'OF 42 INCH PORTLAND,OR $ 389,121 2016 1KNIFE RIVER KYLE LATTA (541)269-1915 550'OF 18 INCH;10T OF 30 INCH REEDSPORT,OR $ 128,707 2016 CANBY EXCAVATING BEN BURG[ (503)266-2792 235'OF 8 INCH;252'OF 10 INCH;375'OF 12 INCH W ILSONVILLE,OR $ 50,036 2016 GRANITE ASHLEYTONSGARD (425)551-3100 36TOF 36 INCH SILVERDALE,WA $ 100,350 2016 ALEGIS CONSTRUCTION A.J.SILVERS 206 727-03 55 191'OF 12 INCH REDMOND,WA $ 32,363 2016 LANDIS&LANDIS LANCE LANDIS (503)466-9043 122'OF 8 INCH;96'OF 21 INCH PORTLAND,OR $ 56,767 2016 KAPSTONE PAPER HECTOR BARRAGAN (360)575-5191 900'OF 24 INCH LONGVIEW,WA $ 238,380 2016 CITY OF GRESHAM DAN PEOPLES (503)618-2129 1,580'OF B INCH GRESHAM,OR $ 109,747 2016 CITY OF ELLENSBURG ROD PAUL (509)929-2382 1,660'OF B INCH;370'OF 10 INCH;1,400'OF 12 INCH ELLENSBURG,WA $ 177,796 2016 GT GENERAL CONTRACTING STEPHANIE WILTSEY (503)362-7327 735'OF 8 INCH SALEM,OR $ 21,732 2016 1 UNIVERSITY OF OREGON JAMES JOHNSON 541 294-2416 134'OF 10 INCH CHARLESTON,OR $ 19,020 2016 EMERY&SONS DAN JOHNSTON (503)588-7576 537'OF 8 INCH;242'OF 15 INCH;738'OF 18 INCH MCMINNVILLE,OR $ 98,442 2016 CITY OF MOSCOW SCOTT BONTRAGER 208 883-7030 3,800'OF 24 INCH MOSCOW,ID $ 364,647 2016 GP WAUNA KEITH BAKER 503 455-3487 250'OF 36 INCH CLATSKANIE,OR $ 108,055 2016 EMERY&SONS DAN JOHNSTON 503 588-7576 978'OF 8 INCH;260'OF 10 INCH;479'OF 12 INCH;666'OF 15 INCH PORTLAND,OR $ 175,747 2016 J W FOWLER LACEY DRIING 503 623-5373 379'OF 81NCH PORTLAND,OR $ 17,725 2016 CITY OF ANACORTES JEFF BELTRAMINI (360)293-1936 3,200'OF 8 INCH;593'OF 10 INCH;600'OF 12 INCH ANACORTES,WA $ 188,697 2016 CITY OF MEDFORD SHEILA GIORGETTI 541 774-2100 3,733'OF 6 INCH;5,705'OF 8 INCH;954'OF 10 INCH MEDFORD,OR $ 509,096 2016 BUNG CONSTRUCTION DAN BUNO (206)423-4512 14T OF 81NCH EDMONDS,WA $ 23,760 2016 1 FOREMOST FARMS JIM CZYSEN 715 204-3232 675'OF 12 INCH PLOVER,WI $ 49,103 2016 MANITOWOC COUNTY MARC HOLSEN (920)683-4353 181'OF 60 INCH MANITIWOC,WI $ 118,211 2016 CITY OF DELAVAN GARY VOGEL (262)763-7834 416'OF 15 INCH;80T OF 18 INCH DELAVAN,W I $ 80,039 2016 CITY OF CHICAGO HEIGHTS DAVID SULKOWSKI (847)823-0500 9,294'OF 8 INCH CHICAGO HEIGHTS,IL $ 451,507 2016 VILLAGE OF SOMERS TIM KITZMAN (262)859-2822 2,094'OF 121NCH SOMERS,WI $ 190,848 2016 BERGER EXCAVATING IMATT GOLDEN (847)526-5457 845'OF 9.5 INCH;1,08T OF 10 INCH;581'OF 12 INCH KENILWORTH,IL $ 77,161 Page 1 Michels Pipe Services Date Client Contact Phone No. Diameter Cured-In-Place Pipe Rehabilitation Location Value 2016 CITY OF MADISON ALANE BOUTELLE (608)267-1197 10,932'OF 6-8 INCH WATERMAIN MADISON,WI $ 1,165,636 2016 VILLAGE OF BUFFALO GROVE KYLE JOHNSON (847)459-2523 802'OF 8 INCH;142'OF 10 INCH;1,25T OF 15 INCH BUFFALO GROVE,IL $ 77,602 2016 CITY OF OCONOMOWOC TERRENCE TAVERA (262)542-5733 68T OF 8 INCH;420'OF 12 INCH;605'OF 21 INCH;366'OF 30 INCH;322' OCONOMOWOC,WI OF 48 INCH $ 307,751 2016 CITY OF ST.LOUIS PARK CHAR ROHLIK (952)924-2656 900'OF 6 INCH ST.LOUIS PARK,MN $ 151,809 2016 RICCIO CONSTRUCTION DAN DELRICCO 708 354-7270 724'OF 12 INCH COUNTRYSIDE,IL $ 81,088 2016 IMINGER CONSTRUCTION AARON HOEFS 952 368-9200 541'OF 36 INCH ROSEVILLE,MN $ 102.747 2016 VILLAGE OF WATERFORD GARY VOGEL 262 763-7834 1,54T OF 8 INCH WATERFORD,WI $ 59,415 2016 VILLAGE OF CRETE BILL STEFEK (708)724-9947 4,669'OF 8 INCH;122'OF 15 INCH CRETE,IL $ 178,787 2016 CITY OF PRAIRIE DU CHIEN TERRY MEYER (608)326-8534 4,257'OF B INCH PRAIRIE DU CHIEN,WI $ 104,368 2016 VILLAGE OF HUNTLEY TIM FARRELL 847 515-5285 1,556'OF B INCH TELEVISING HUNTLEY,IL $ 65,747 2016 ALLIANCE CONTRACTORS,INC. BRAD SPINIOLAS (815)338-5900 596'OF 21 INCH OAK PARK,IL $ 59,580 2016 VILLAGE OF LAKE ZURICH CHRIS GHEYSEN 847 325-7319 6,344'OF 30 INCH;2,704'OF 36 INCH LAKE ZURICH,IL $ 2,855,523 2016 CITY OF NEENAH GERRY KAISER (920)866-6100 2,510'OF 8 INCH;47T OF 10 INCH;200'OF 12 INCH;308'OF 15 INCH; NEENAH,W I 962'OF 18 INCH $ 173,033 2016 CITY OF SAINT PAUL TIFFANY AUDETTE (651)266-8900 1,716'OF 8 INCH;3,78T OF 12 INCH;422'OF 15 INCH;322'OF 241NCH; SAINT PAUL,MN 8T OF 27 INCH;406'OF 48 INCH $ 383,702 2016 VILLAGE OF KOHLER BRETT EDGERLE (920)459-3873 2,850'OF 81NCH;1,222'OF 10 INCH;260'OF 12 INCH KOHLER,WI $ 138,039 2016 E&N HUGHES CO.INC TERRY HUGHES 608 558-7923 1,59T OF 12 INCH MADISON,WI $ 52,376 2016 CITY OF KALAMAZOO RYAN STOUGHTON (269)337-8020 321'OF 42 INCH KALAMAZOO,MI $ 175,804 2016 CONSTRUCTION BY CAMCO JEFF YOUNG 815 741-4455 946'OF 10 INCH;1,359 OF 16 INCH JOLIET,IL $ 371,220 2016 VILLAGE OF LIBERTYVILLE FREDERICK CHUNG 847 247-5435 900'OF 81NCH LIBERTYVILLE,IL $ 73,805 2016 DUPAGE COUNTY DAVID SULKOWSKI (630)407-6184 3,406'OF 81NCH;1,739'OF 12 INCH WHEATON,IL $ 374,838 2016 CITY OF MILWAUKEE SAMIR AMIN 414 286-3314 18,940'OF 81NCH;758'OF 10 INCH;3,288'OF 15 INCH MILWAUKEE,WI $ 871,365 2016 CITY OF MILWAUKEE SAMIR AMIN (414)286-3314 35,48T OF 8 INCH;7,520'OF 10 INCH;7,445'OF 12 INCH;2,316'OF 15 MILWAUKEE,WI INCH;2,814'OF 18 INCH;620'OF 24 INCH $ 1,647,165 2015 CITY OF GENEVA DANIEL WATSON (630)232-0827 4,255'OF 8 INCH;1,94T OF 10 INCH;2,571'OF 12 INCH GENEVA,WI $ 305,675 2015 CITY OF OMRO MARK VAN PELT (920)685-7000 1,721'OF 8 INCH OMRO,WI $ 43,570 2015 KRUCZEK CONSTRUCTION SEAN MCNAMARA (920)863-6841 1,29T OF 8 INCH;44'OF 10 INCH;69T OF 15 INCH SCHOFIELD,WI $ 65,078 2015 DANIELSON CONTRACTING ERIC DANIELS 906 284-0398 7,731'OF 8 INCH;449'OF 10 INCH;166'OF 12 INCH UANSE,MI $ 255,976 2015 OTTER CREEK UTILITY DISTRICT BRAD CLARK (815)248-2058 2,729'OF 8 INCH DAVIS,IL $ 114,995 2015 VILLAGE OF CARPENTERSVILLE BOB COLE (224)293-1600 4,045'OF B INCH CARPENTERSVILLE,IL $ 691,690 2015 JAMES MCHUGH CONSTRUCTION BRUCE LAKE (312)821-0353 290'OF 161NCH CHICAGO,IL $ 184,251 2015 VILLAGE OF BAYSIDE YURIY AMELYAN 414 751-7200 4894'OF 81NCH;1,107 OF 10 INCH;1978;OF 12 INCH;170'OF 241NCH BAYSIDE,WI $ 252,210 2015 A LAMP CONCRETE ELLA PESCE (847)891-6000 7,631'OF 81NCH;1,426'OF 10 INCH;1,496 OF 12 INCH DEERFIELD,IL $ 358,632 2015 PAYNE&DOLAN PARKER SOVEY 262 524-1879 1,863'OF S INCH SUSSEX,WI $ 53,381 2015 CITY CONSTRUCTION AFSHEEN HAMEED (773)736-0607 430'OF 8 INCH LINCOLNSHIRE,IL $ 69,556 2015 MJ CONSTRUCTION MICHELLE MAGIN (414)760-3320 148'OF 161NCH MILWAUKEE,WI $ 41,905 2015 CITY OF PRAIRIE DU CHIEN TERRY MEYER 608 326-8534 4,500'OF 8 INCH PRAIRIE DU CHIEN,WI $ 112,824 2015 MILWAUKEE GENERAL CONST TOM PESCH (414)281-8510 3,619'OF 8 INCH;141'OF 12 INCH;169'OF 18 INCH WEST MILWAUKEE,WI $ 218,867 2015 VILLAGE OF NORTH BAY MARK KOLCZASKI (262)763-7834 900'OF 8 INCH;615'OF 10 INCH NORTH BAY,WI $ 71,331 2015 VILLAGE OF PALATINE MATTHEW BARRY (847)705-5200 6,025 OF 8 INCH;178'OF 10 INCH;189'OF 12 INCH PALATINE,IL $ 171,336 2015 JHEITKAMP DAVID EBNER (410)744-8234 554'OF 161NCH BALTIMORE,MD $ 507,244 2015 VILLAGE OF RIVER HILLS DIANE THORNE (414)352-8213 405'OF 12 INCH;82V OF 15 INCH;101'OF 36 INCH;535'OF 10 INCH RIVER HILLS,WI $ 94,943 2015 CITY OF PLEASANT PRAIRIE JOHN STEINBRINK 262 925-6768 378'OF B INCH;320'OF 10 INCH;416'OF 12 INCH PLEASANT PRAIRIE,WI $ 246,253 2015 CITY OF MADISON ROBERT PHILLIPS (608)266-4751 942'OF 6 INCH;10,820'OF 8 INCH;960'OF 10 INCH MADISON,WI $ 305,680 2015 GLENBROOK EXCAVATING TODD BARNETT 847 724-9477 1,359'OF 8 INCH;279'OF 10 INCH MUNDELEIN,IL $ 85,626 2015 CITY OF WEST LINN ERICH LAIS (503)722-5514 19,647-OF 8 INCH;3,406'OF 10 INCH;351'OF 12 INCH;1,865 OF 15 INCH;WEST LINN.OR 3,410 OF 18 INCH;595'OF 21 INCH' $ 1,008,811 2015 GREEN SANITARY DISTRICT SHANNON MILLER (541)679-7191 7,87T OF 8 INCH;782'OF 12 INCH;326'OF 15 INCH ROSEBURG,OR $ 459,855 2015 FABER CONSTRUCTION LOU ANN HEERSPINK (360)354-3500 5,14T OF 8 INCH;1,485'OF 10 INCH;281'OF 12 INCH BELLINGHAM,WA $ 264.953 2015 CITY OF SPOKANE MICHAEL MORRIS (509)625-7921 1,254'OF 241NCH;5V OF 30 INCH;1,450'OF 36 INCH;525'OF 601NCH SPOKANE,WA $ 1,415,594 2015 EAST SALEM SERV DISTRICT TIM BEAVER 503 365-3100 575'OF 48 INCH; SALEM,OR $ 130,542 2015 CITY OF OLYMPIA JOHN MCGLAMERY (360)753-8489 3,228'OF 6 INCH;3,346'OF 8 INCH;358'OF 10 INCH;282'OF 15 INCH OLYMPIA,WA $ 354,000 2014 INTEGRATED SIDNEY NAKAO (808)487-4885 29'OF 10 INCH lHONOLULU,HI $ 26,400 Page 2 Michels Pipe Services Date Client Contact Phone No. Diameter Cured-In-Place Pipe Rehabilitation Location Value 2014 J RODRIGUEZ CONSTRUCTION JESSE RODRIQUEZ (503)931-5114 824'OF 12 INCH;241'OF 15 INCH MT.ANGEL,OR $ 55,620 2014 CITY OF EAST WENATCHEE BRANDON MAUSETH 509 884-9515 80'OF 24 INCH;170'OF 30 INCH E.WENATCHEE,WA $ 98,549 2014 OXBOW CONSTRUCTION JUNE KALKOVEN (503)780-7124 500'OF 10 INCH PORTLAND,OR $ 20,065 2014 CITYOFNEWBERG MIKE CONWAY (503)537-1234 530'OF IO INCH NEWBERG,OR $ 24,928 2014 CITY OF THE DALLES DALE MCCABE (541)296-5401 398'OF 8 INCH;275'OF 10 INCH THE DALLES,OR $ 40,423 2014 QUIMU CONTRACTING SANDRA DAVIS (707)693-0289 940'OF 18 INCH;190'OF 24 INCH;47'OF 30 INCH KYBURZ,CA $ 159,261 2014 CITY OF FRIDAY HARBOR DON REITAN 360 378-5400 410'OF 18 INCH FRIDAY HARBOR,WA $ 52,150 2014 INUTTER CORP. SUMMER PAUL 360 573-2000 33T OF 12 INCH PORTLAND,OR $ 25,507 2014 PIPKIN GARRITT VISSER (503)884-2400 1060'OF 8 INCH;11 45'OF 10 INCH;475'OF 12 INCH;860'OF 15 INCH WENATCHEE,WA $ 129,239 2014 Q&D CONSTRUCTION WILL MORGAN (775)786-2677 51'OF 12 INCH;655'OF 18 INCH;530'OF 24 INCH;62'OF 27 INCH;56'OF KINGSBURY,NV 36 INCH $ 233,452 2014 CONLEY ENGINEERING GEOFF CONLEY (831)429-8111 11 9'OF 18 INCH;192'OF 36 INCH GORDA,CA $ 84,733 2014 CITYOFNEWBERG MIKE CONWAY 503 537-1234 524'OF 8INCH NEWBERG,OR $ 24,349 2014 GROUNDWORKS RYAN GOLD (209)231-2424 176'OF 18 INCH;80'OF 24 INCH WASHOUGAL,WA $ 43,160 2014 JIM SMITH EXCAVATING ROY BONNER (503)557-7470 200'OF 10 INCH WASHOUGAL,WA $ 74,035 2014 PLACER COUNTY MIKE BARRETT (530)866-4941 3052'OF 6 INCH;256'OF 8 INCH;95T OF 10 INCH AUBURN,CA $ 209,749 2014 jCrrY OF THE DALLES DALE MCCABE 541 296-5401 4725'OF 8 INCH;170'OF 10 INCH;225'OF 12 INCH;216'OF 18 INCH THE DALLES,OR $ 170,901 2014 MOZINGO CONSTRUCTION PHIL GIANFORTONE (209)848-0160 665'OF 36 INCH MANTECA,CA $ 88,512 2014 CITY OF YAKIMA STEVEN SZIEBERT (509)966-7000 480'OF 24 INCH YAKIMA,WA $ 173,398 2014 DIABLO CONTRACTORS LAURA ST LAURENT (925)552-8250 120'OF 18 INCH;9T OF 36 INCH MEEKS BAY,CA $ 54.947 2014 CANBY EXCAVATING MIKE KELLER 503 263-0118 291'OF 12 INCH;214 OF 24 INCH PORTLAND,OR $ 39,288 2014 MJ CONSTRUCTION STEVE KLOMSTEN 262 370-8397 91T OF 8INCH;585'OF 12 INC MILWAUKEE,WI $ 48,136 2014 NORTHWOODS PAVING BARBARA RAST (715)682-4340 212'OF 30 INCH;178'OF 36 INCH CORNUCOPIA,WI $ 117,525 2014 HEITPAS STU HEITPAS 920 788-2568 294'OF 8INCH COMBINED LOCKS,WI $ 21,462 2014 HEBERT CONSTRUCTION BLAINE SHOTWELL 906)265-5157 1,977'OF 18 INCH MENOMINEE,WI $ 115,061 2014 ISTARKASPHALT SUSAN MIJACZ 414 466-7820 416'OF 12 INCH;67V OF 15 INCH;256'OF 18 INCH THIENSVILLE,WI $ 62,896 2014 CITY OF PRAIRIE DU CHIEN TERRYMEYER (608)326-8534 1946'OF8INCH PRAIRIE DU CHIEN,WI $ 46,704 2014 CITY OF MANITOWOC JENNIFER HUDON 920 686-6950 9,086'OF 8 INCH;86T OF 10 INCH;365'OF 12 INCH;328'OF 24 INCH MANITIWOC,WI $ 284,057 2014 DEKALB SANITARY DISTRICT MIKE HOLLAND (815)758-3513 81'OF 6INCH;4554'OF 8INCH; DEKALB,IL $ 129,144 2013 FO ZEISE CONSTRUCTION DICK SCHROEDER (920)437-5426 330'OF 15 INCH OSHKOSH,WI $ 16,962 2013 INTERWEST CONSTRUCTION STEVE LIIKALA (360)757-7574 648T OF 8 INCH BELLINGHAM,WA $ 179,675 2013 HANSEN BROS JEFF HANSEN 530)273-3381 91'OF 24 INCH GRASS VALLEY,CA $ 23,796 2013 CITY OF BAKER CITY JOYCE BORNSTEDT (541)524-2046 41T OF 6INCH;2595'OF 8INCH;526'OF 10 INCH;408'OF 12 INCH BAKER CITY,OR $ 109,986 2013 CITY OF BAKERSFIELD BILL MCCLURE 661 326-3087 735T OF 33 INCH;355'OF 36" BAKERSFIELD,CA $ 1,563,571 2013 IKODIAK PACIFIC DALE SESSUMS (503)720-7172 398'OF 12 INCH TUALATIN,OR $ 1,563,571 2013 K&E EXCAVATION CHRIS TERRELL (541)974-4094 380'OF 15 INCH WOODBURN,OR $ 29,058 2013 CITY OF SHERIDAN DARYL DAVIS 503 843-3775 912'OF 8 INCH SHERIDAN,OR $ 50,010 2013 OREGON FREEZE DRY DENZEL CONNER 541 936-4877 120'OF 18 INCH ALBANY,OR $ 24,999 2013 CITY OF SACRAMENTO RENEE GRAVES (916)808-1437 3,470'OF 24 INCH SACRAMENTO,CA $ 559,979 2013 ROGUE VALLEY SEWER CARL TAPPERT (541)664-6300 228'OF 36 INCH PHOENIX,OR $ 83,980 2013 J RODRIGUEZ CONSTRUCTION JESSE RODRIQUEZ 503 931-5114 579'OF 6 INCH;1,282'OF 8 INCH;285'OF 15 INCH KLAMATH FALLS,OR $ 99,999 2013 WEST COAST PIPE KEITH (541)941-5145 545'OF 12 INCH PORTLAND,OR $ 44,333 2013 TAPANI INC. JUSTIN MASSIE (360)907-8640 770'OF 8INCH;315'OF 10 INCH STELIACOOM,WA $ 53,622 2013 ICITYOFGRESHAM LAURA RIEHL (503)618-2525 779'OF 15 INCH GRESHAM,OR $ 78,890 2013 TRUCKEE SANITARY DISTRICT SARAH BERSHERON (530)587-3804 400'OF B INCH TRUCKEE,CA $ 32,242 2013 FFSSD KEVIN CULLEN (707)429-8930 1,100'OF 33 INCH FAIRFIELD,CA $ 550,000 2013 CITY OF DUNDEE ROB DAYKIN 503 538-3922 1,513'OF 8 INCH DUNDEE,OR $ 45,436 2013 CITY OF SACRAMENTO MELISSA MARSHALL 916 808-1437 5,040'OF 6 INCH;1,705'OF 8 INCH;475'OF 10 INCH SACRAMENTO,CA $ 459,113 2013 SASD TAMBLYNN STEWART 916 875-9014 1,075'OF 6INCH SACRAMENTO,CA $ 65,220 2013 BROUGH KATIE WHITE (805)489-7779 120'OF IS INCH;50'OF 24';260'OF 36 INCH GLENNVILLE,CA $ 104,800 2013 RANGER PIPELINES DAIRMAID FOLEY (415)822-3700 2,670'OF 8INCH NAPA,CA $ 109,964 2013 WESTECH CONSTRUCTION NICK JONES 503 969-1447 1,468'OF 8 INCH CLACKAMAS COUNTY,OR $ 40,258 2013 1 LAS VEGAS PAVING JAKE MARSHALL 702 251-1968 3.100'OF 15 INCH LAS VEGAS,NV $ 625,914 2013 KERR CONTRACTORS SKEETER MAY 971 235-5025 699'OF 8 INCH CLACKAMAS,OR $ 29,150 2013 CITY OF DALLAS [FRED BRAUN (503)931-3555 1135OF 6 INCH;135'OF 10 INCH;50'OF 12 INCH;4,090'OF 27 INCH I DALLAS,OR $ 699.800 Page 3 Michels Pipe Services Date Client Contact Phone No. Diameter Cured-In-Place Pipe Rehabilitation Location Value 2013 CITY OF EUGENE DAVID STARNS 146'OF 61NCH;3,014'OF 8 INCH;1,061'OF 10 INCH;1,782'OF 12 INCH; (541)682-8306 EUGENE 582'OF 15 INCH;762'OF 18 INCH;122'OF 36' ,OR $ 454,407 2013 ROBERT J FRANK JOSEPH FRANK CONSTRUCTION (530)222-1406 275'OF 21 INCH MONTEREY COUNTY $ 52,800 2013 CITY OF PASCO ROBERT BLAINE (509)545-3463 715'OF 18 INCH;2,675'OF 24 INCH PASCO,WA $ 529,970 2013 CANBY EXCAVATING STEVE DELLER (503)266-2792 324'OF 24 INCH PORTLAND,OR $ 31,999 2013 CITY OF ALBANY NOLAN NELSON 541 791-0130 290'OF 6 INCH;3,600'OF 8 INCH ALBANY,OR $ 130,561 2013 CITY OF TACOMA LISA OESTREICH (253)594-7871 876'OF 8 INCH;9,904'OF 10 INCH;8,066'OF 12 INCH;4,518'OF 15 INCH; TACOMA,WA 4,300'OF 18 INCH;757'OF 21 INCH $ 1,168,433 2013 PEASE&SONS Susan Bans (253)531-7700 150'OF 18 INCH;445'OF 48 INCH TACOMA,WA $ 215,673 2013 KJ WOODS CHRIS REILLY (415)740-1827 2000'OF 8INCH;1,79T OF 10 INCH; SUNNYVALE,CA $ 170,514 581'OF 10 INCH;1,73T OF 15 INCH;2,884'OF 18 INCH;1,764'OF 24 2013 FRONT RANGE ENV. BILL HEFFERMAN (866)426-0025 INCH;1,264'OF 30 INCH;1,206'OF 36 INCH;1,920'OF 42 INCH;295'OF TROUTDALE.OR 481NCH $ 1,461,779 2013 QUIMU CONTRACTING SANDRA DAVIS (707)693-0289 460'OF 18 INCH;230'OF 21 INCH NEVADA COUNTY,CA $ 269,400 2013 ICIMMARRON INC. JENY VELLA (209)522-1655 260'OF 18 INCH STRAWBERRY,CA $ 50,440 2013 HI AMERICAN WATER KAREN LOGAN 619 435-7434 2,050'OF 30 INCH HONOLULU,HI $ 1,308,674 2013 CW FOX BILL FOX (530)823-0591 61 O'OF 18 INCH;780'OF 24 INCH;28T OF 30 INCH MEYERS,CA $ 212,105 2013 CITY OF HONOLULU ANTHONY FERREIRA 808 768-5535 332'OF 481NCH HONOLULU,HI $ 1,496,084 2013 HAWAII DREDGING DAVID MCCHESNEY (808)735-3227 200'OF 8INCH;195'OF 12 INCH;235'OF 24 INCH HONOLULU,HI $ 111,472 2013 CITY OF ASHLAND MORGAN WAYMAN 1541 552-2414 350'OF 15 INCH;570'OF 18 INCH;812'OF 21 INCH ASHLAND,OR $ 213,172 2013 NO STAR CONSTRUCTION ZACHARY MILNER 530 673-7062 140'OF 12 INCH;168'OF 30 INCH SACRAMENTO,CA $ 61,859 2013 KNIFE RIVER LYNDA MCKEE (541)770-2960 295'OF 18 INCH;1,668'OF 24 INCH;450'OF 30 INCH;59T OF 36 INCH GLENDALE,OR $ 480,165 2013 K&E EXCAVATION STEVE HANSON (503)399-4833 256'OF 12 INCH SHERWOOD,OR $ 21,023 2013 CANBY EXCAVATING MIKE KELLER (503)263-0118 263'OF 8INCH HILLSBORO,OR $ 16,140 2013 PIPELINE INSPECTION SCOTT WENDLING (208)941-9424 2,58T OF 30 INCH NAMPA,ID $ 320,744 2013 CITY OF AUMSVILLE JIM SCHUETTE (503)559-1146 1,920'OF 8 INCH AUMSVILLE,OR $ 78,644 2013 GARY MERLINO CONSTRUCTION GARY MERLINO 206 762-9125 314'OF 6 INCH SEATTLE,WA $ 24,578 2013 CITY OF WASHOUGAL WILL NOONAN (360)835-2662 596'OF 12 INCH;244'OF 18 INCH;820'OF 24 INCH;226'OF 30 INCH WASHOUGAL,WA $ 148,022 2013 W R FORDE DONALD RUSSEL (510)215-9338 1,506'OF 15 INCH;693'OF 18 INCH;178'OF 24 INCH;54'OF 27 INCH CORTE MADERA,CA $ 222,664 2013 INTERWEST CONSTRUCTION SUZAN DONNING (360)757-7574 5,132'OF 8INCH;2,04T OF 12 INCH;330'OF 15 INCH;498'OF 18 INCH BELLINGHAM,WA $ 270,703 2013 PEARSON CONSTRUCTION MIKE MCFEARIN (360)733-2160 156'OF 15 INCH LYDEN,WA $ 28,118 2013 CITY OF NORTHBROOK MICHEAL BUKOLT (847)272-4711 6,277'OF 8 INCH;88T OF 10 INCH;1,314'OF 12 INCH;262'OF 15 INCH NORTHBROOK,IL $ 225,785 2013 CITY OF WHEELING JEFF WOLFGRAM (847)279-6928 115'OF 18 INCH WHEELING,IL $ 179,552 2013 CITY OF DALY CITY TOM PICCOLATTI 650 991-8211 700'OF 8 INCH DALY CITY,CA $ 32,810 2013 CITY OF FRANKLIN VIOLET RAZO (262)542-5733 1,410'OF 8INCH FRANKLIN,WI $ 34,553 2013 CITY OF WADENA DAN KOVAR (218)639-7681 3,826'OF 8 INCH;1,042'OF 12 INCH WADENA,MN $ 227,334 2013 CITY OF MOUND DANIEL FAULKNER (952)448-8838 5,900'OF 8 INCH MOUND,MN $ 196,663 2013 DEGROOT CONSTRUCTION KRISTIN ROMANOWICZ (920)448-3094 158'OF 8INCH;306'OF 10 INCH;648'OF 12 INCH;360'OF 18 INCH GREEN BAY,WI $ 60.276 2013 UNIQUE PLUMBING JIM NOLAN (708)485-8860 400'OF 12 INCH FORESTVIEW,IL $ 117,743 2013 GLOBE CONTRACTORS CHRIS LANGEMAK (262)624-3598 11 445'OF 8INCH;355'OF 12 INCH;1,395'OF 15 INCH;90'OF 21 INCH; yyAUKESHA,WI 130'OF 27 INCH;40'OF 30 INCH $ 144,152 2013 CITY OF WHEELING JEFF WOLFGRAM 847 279-6928 5,632'OF 8 INCH;336'OF 10 INCH;1,039'OF 12 INCH WHEELING,IL $ 179,552 2013 CITY OF NAPERVILLE DAVE KERR (630)548-2981 1,905'OF 6 INCH;5,795'OF 8 INCH;5,91 T OF 10 INCH;4,833'OF 12 INCH;NAPERVILLE IL 2,756'OF 15 INCH;680'OF 18 INCH;519'OF 21 INCH , $ 909,161 2013 MET COUNCIL THOMAS BUCHAL (651)325-6369 640'OF 18 INCH ST,PAUL,MN $ 47,847 2013 CITY OF WINNETKA MICHAEL RIVARD (847)716-3264 10,000-OF 8 INCH WINNETKA,IL $ 40,065 2013 MJ CONSTRUCTION STEVE KLOMSTEN 262 370-8397 1,178'OF 8INCH;305'OF 12 INCH;765'OF 18" MILWAUKEE,WI $ 99,672 2013 CITY OF ARLINGTON HEIGHTS JEFF MUSINSKI 847)368-5806 3,311'OF 8INCH;2,865'OF 10 INCH;1,709'OF 12" ARLINGTON HEIGHTS,IL $ 249,402 2013 CITY OF NORTHFIELD RICHARD KNUDSON (847)784-3584 9,824'OF 8 INCH;3,244'OF 10 INCH;224'OF 12 INCH;2,529'OF 15 INCH NORTHFIELD,IL $ 396,924 2013 CTY OF STEVENS POINT SCOTT SCHATSCHNEIDER (715 340-2540 5,534'OF 8 INCH;810'OF 30 INCH STEVENS POINT,W I $ 245,096 2013 CITY OF ROUND LAKE RON KROOP (847 546-0962 860'OF 8 INCH;1,140'OF 15 INCH ROUND LAKE,IL $ 153,329 Page 4 Michels Pipe Services Date Client Contact Phone No. Diameter Cured-In-Place Pipe Rehabilitation Location Value 2013 CITY OF MANITOWOC STEVE HERZOG (920)374-0415 5,360'OF 8";101'OF 10 INCH;1,674'OF 12 INCH;396'OF 15 INCH;722' MANITOWOC,WI OF 21 INCH $ 242,741 2013 RRWRD MIKE RIEGER (815)387-7684 696'OF 541NCH ROCKFORD,IL $ 528.664 2013 MET COUNCIL THOMAS BUCHAL (651)325-6369 500'OF 36 INCH;2,120'OF 66 INCH ST.PAUL,MN $ 2,227,727 2012 NORTHWEST CONSTRUCTION STEVE RUSHTON (425)453-8380 100'OF 18 INCH FEDERAL WAY,WA $ 17,400 2012 CITY OF SEATTLE JOHN JURGENS 206 733-9857 70'OF 8 INCH;78'OF 12 INCH SEATTLE,WA $ 29,975 2012 SACRAMENTO SEWER DISTRICT AUGUSTIN LOPEZ (916)875-6595 475'OF 6 INCH SACRAMENTO,CA $ 29,598 2012 CITY OF MYRTLE CREEK ANDREW ALBEE 541 430-1790 175'OF 8 INCH MYRTLE CREEK,OR $ 10,950 2012 CITY OF SUTHERLIN BRIAN ELLIOT 541 459-5768 312'OF 8 INCH SUTHERLIN,OR $ 19,604 2012 EMERY&SONS STEVE HOLMES (503)588-7576 275'OF 8 INCH LONGVIEW,WA $ 17,278 2012 TRI-STATE CONSTRUCTION TIM HAYNER 425 455-2570 308'OF 12 INCH REDMOND,WA $ 29,084 2012 EAGLE-ELSNER JAKE EAGLE (503)628-1137 620'OF 15 INCH OREGON CITY,OR $ 43,737 2012 CIMMARRON INC. JENY VELLA (209)522-1655 34'OF 18 INCH ALPINE LAKES,CA $ 20,372 2012 H&J CONSTRUCTION MICHAEL HEER (541)689-5863 6,363'OF 81NCH;287'OF 12 INCH;399'OF 18 INCH EUGENE,OR $ 300,057 2012 MARION COUNTY BOB PANKRATZ 503 373-4307 300'OF 12 INCH SALEM,OR $ 20,997 2012 ICITY OF BELLEVUE SHAWN RILEY (425)452-4320 628'OF 30 INCH BELLEVUE,WA $ 202,984 2012 GSE CONSTRUCTION MARIO LOZANO 925 447-0292 121 OF 24 INCH;124'OF 30 INCH;534'OF 42 INCH BERKELEY,CA $ 230,589 2012 DIRT AND AGGREGATE COREY PELFREY (503)661-5093 823'OF 8 INCH PORTLAND,OR $ 40,489 2012 Q&D CONSTRUCTION CURT MATZOLL (775)786-2677 668'OF 15 INCH;143'OF 21 INCH INCLINE VILLAGE,NV $ 103,982 2012 Q&D CONSTRUCTION CURT MATZOLL (775)786-2677 75'OF 24 INCH INCLINE VILLAGE,NV $ 18,150 2012 TEICHERT CONSTRUCTION PHIL CRUMMETT 916 645-4845 70'OF 10 INCH;70'OF 12 INCH;305'OF 18 INCH;305'OF 21 INCH CITRUS HEIGHTS;CA $ 73,878 2012 JMB CONSTRUCTION SEAN MCLOUGHLIN (650)267-5300 140'OF 421NCH ANTIOCH,CA $ 92,998 2012 QUIMU CONTRACTING MIGUEL QUIROZ (707)693-0289 1,060'OF 18 INCH NEVADA COUNTY,CA $ 152,190 2012 TRUCKEE SANITARY DISTRICT SARAH BERSHERON 530 587-3804 1,029'OF 6 INCH;600'OF 10 INCH;1,486'OF 15 INCH TRUCKEE,CA $ 177,614 2012 O&D CONSTRUCTION CURT MATZOLL (775)786-2677 210'OF 12 INCH;2,970'OF 18 INCH;2,940'OF 24 INCH;370'OF 36 INCH; INCLINE VILLAGE,NV 180'OF 48 INCH $ 1,023,490 2012 STAN PALMER CONSTRUCTION JEFF ALLEN (360)674-2100 880'OF 30 INCH BREMERTON,WA $ 108,883 2012 HOS BROS CHRIS GEORGE (425)864-9221 149'OF 81NCH WHITE CENTER,WA $ 10,708 2012 CITY OF MT.ANGEL DAN SHAFFER (503)845-6260 1,081'OF 8 INCH; MT.ANGEL,OR $ 43,573 2012 HOS BROS CHRIS GEORGE (425)864-9221 426'OF 8 INCH SEATTLE,WA $ 29,643 2012 EUGENE SAND&GRAVEL MIKE MOFF (541)683-5741 572'OF 81NCH;364'OF 15 INCH EUGENE,OR $ 35,435 2012 MARTIN BROTHERS CHUCK ALDRIGE 916 381-0911 68'OF 48 INCH;80'OF 60 INCH TUOLUMNE,CA $ 109,382 2012 CITY OF WHEELING JEFF WOLFGRAM (847)279-6928 4,000'OF 81NCH;750'OF 24 INCH WHEELING,IL $ 189,785 2012 QUIMU CONTRACTING MIGUEL QUIROZ (707)693-0289 150'OF 241NCH VACAVILLE,CA $ 24,885 2012 ILANDIS&LANDIS JEFF RADISH (503)939-1820 290'OF 81NCH;83'OF 10 INCH MCMINNVILLE,OR $ 15,996 2012 EMERY&SONS STEVE HOLMES (503)588-7576 728'OF 18 INCH;504'OF 24 INCH PORTLAND,OR $ 104,822 2012 EMERY&SONS STEVE HOLMES 503 588-7576 880'OF 10 INCH;1,150'OF 18 INCH BEAVERTON,OR $ 77,765 2012 CITY OF SANTA CRUZ ANNE HOGAN 831 420-5425 40'OF 36 INCH;70'OF 48 INCH SANTA CRUZ,CA $ 68,750 2012 SO PLACER MUD SAM ROSE (916)786-8522 297'OF 6 INCH;454'OF 8 INCH;2,058'OF 24 INCH;402'OF 30 INCH ROCKLIN,CA $ 261,158 2012 ODOT BO MILLER (503)986-2738 275'OF 30 INCH ALSEA,OR $ 52,855 2012 BERGER EXCAVATING KYLE BERGER 847 526-5457 1,990'OF 81NCH MUNDELEIN,IL $ 91,940 2012 RRWRD JOE VONARX (815)387-7400 500'OF 541NCH ROCKFORD,IL $ 209,232 2012 CIVIL CONSTRUCTION KEN SCHROCK 815 235-2200 25'OF 541NCH ROCKFORD,IL $ 55,443 2012 ICITY OF DELAVAN GARY VOGEL (262)763-7834 496'OF 8 INCH;643'OF 12 INCH DELAVAN,WI $ 62,425 2012 PTASCHINSKI CONSTRUCTION TOM PTASCHINSKI 920 885-3627 119'OF 8 INCH;1,140'OF 12 INCH $ 45,278 2012 UPI CRAIG DRETZKA (262)548-9451 200'OF 24 INCH MILWAUKEE,WI $ 36,000 2012 CITY OF ARLINGTON HEIGHTS JEFF MUSINSKI (847)368-5806 3,500'OF 8 INCH;1,100'OF 10 INCH ARLINGTON HEIGHTS,IL $ 212,806 2012 PTS CONTRACTORS STEVE HORN (920)371-2975 25'OF 10 INCH;499'OF 15 INCH GREEN BAY,WI $ 57,360 2012 CRY OF LAKE FOREST RAMESH KANAPAREDDY (847)810-3552 645'OF 6 INCH;4,653'OF 8 INCH;312'OF 10 INCH;800'OF 12 INCH;575' LAKE FOREST,IL OF 15 INCH $ 199,789 2012 DEGROOT CONSTRUCTION MARK DEGROOT 920)866-2348 790'OF B INCH;238'OF 12 INCH;371'OF 15 INCH GREEN BAY,WI $ 57,360 2012 CITY OF FOREST LAKE JEREMY HAUSER 651 604-4711. 700'OF 10 INCH FOREST LAKE,MN $ 225,550 2012 CITY OF GREEN BAY LISA SARAU (920)448-3096 6,301'OF 8 INCH;1,135'OF 10 INCH;454'OF 12 INCH;962'OF 15 INCH GREEN BAY,WI $ 278,988 2012 CITY OF MARSHFIELD THOMAS TURCHI (715)486-2034 19,000'OF 8 INCH;1,192'OF 24 INCH;856'OF 27 INCH;1,795'OF 30 MARSHFIELD,WI INCH;975'OF 36 INCH $ 1.142,698 Page 5 Michels Pipe Services Date Client Contact Phone No. Diameter Cured-In-Place Pipe Rehabilitation Location I Value 2012 CITY OF NAPERVILLE JAN FISCHER 114'OF 8 INCH;4,765'OF 10 INCH;4,142'OF 12 INCH;3,104'OF 15 INCH; (630)420-6062 NAPERVILLE 2,099'OF 24 INCH ,IL $ 666.841 2012 CITY OF MILWAUKEE MAZEN AMER (414)286-2434 60'OF 12 INCH;365'OF 15 INCH;94'OF 18 INCH;35'OF 27 INCH;4,477' MILWAUKEE WI OF 30 INCH;2,517'OF 36 INCH;3,987'OF 42 INCH;75'OF 48 INCH , $ 1,977.496 Page 6 Michels Pipe Services MICHELS Air/Steam Install&Cure Process INSTALLING PREMIER PIPE USING THE AIR/STEAM METHOD 1. The inversion frame should be placed directly over the pipeline to be lined. A suitable access to the pipeline, i.e.; manhole, pothole or hatch, shall be provided to ensure the liner is not hindered in any way. 2. A suitable air source is required for maintaining installation and curing pressures. 3. The liner should be transported in a climate controlled vessel to prevent a premature exotherm during transit. 4. The vessel transporting the liner should be placed in close proximity to the inversion frame. 5. After the liner is secured to the inversion frame, a lubricant, such as mineral oil, needs to be applied to prevent friction and aid in the inverting of the liner. 6. Apply air to liner and maintain a pressure within the recommended range of pressures as determined by the manufacturer while the liner is inverting. If the liner stops or is stopped during the inversion; air pressure can be increased or decreased accordingly to resume inverting the liner. 7. Although not necessary, it is recommended that a rope be attached to the tail end of the liner before it goes through the inversion frame.The rope should be used to control the feed rate of the liner. 8. Once the liner has reached the termination point and is up against a suitable restraint, steam can be introduced to begin the curing of the liner. Curing should be performed by manufacturer's recommendations. 9. Following cure liner should be cooled to an interface temperature of 113 degrees Fahrenheit. 10. Following cool down the liner ends can be trimmed and the laterals reinstated. 11. Finally, perform post video inspection of newly installed CIPP liner. MICHELS Installation Instructions for Premier Pipe (CIPP) Water Inversion This is a brief description of the installation process for CIPP utilizing hydrostatic pressure. Prior to the CIPP installation, the host pipe is CCTV inspected to ensure that no conditions exist that could inhibit the process. Once the line is inspected, the CIPP is installed through the inversion process. At the start of the inversion process, the liner is fastened and secured to the inversion tower. Thermocouples are installed in the invert of the beginning and ending manholes to monitor temperatures during the curing process. The insertion begins by adding water to the inverted liner. The pressure of the hydrostatic head allows the liner to invert into the host pipe. Water is added as necessary to maintain a constant head as the liner inverts through the existing pipe. As the liner inverts, it will pull a hold-back rope and circulation hoses into the host pipe. The hold-back rope is used to control the rate of inversion. Once the liner is in place, the circulation hoses are connected to a boiler unit, and the water in the liner is heated to the recommended cure temperature. The water temperature is maintained for the recommended time required for a proper cure. Once the curing phase is complete, the cool down process begins. Cold water is circulated through the liner to slowly cool it down. When the cured liner reaches 100 degrees, the line is drained and the ends of the liner are cut and trimmed. After cutting and trimming, any laterals are reinstated, and a post liner video inspection of the installed CIPP is completed. MICHELS° Michels Pipe Services — Midwest Region Cured In Place Pipe Equipment List Category Quantity F150 Crew Truck 2 F250 Crew Truck 12 F350 Crew Truck 1 F450 Flatbed Truck 4 F550 Flatbed Truck 3 TV/Cutter Truck 8 Grout Truck 1 Vac/Jet Truck 8 Semi-Truck 3 Reefer Truck 4 Boiler Truck 3 Steamer Truck 6 Equipment Trailer 17 Reefer Trailer 5 Tanker Trailer 1 Inversion Units 1 Total 79 Michels Corporation has a permanent Wet Out facility located at 817 W. Main Street, Brownsville,WI where we Impregnate the CIPP lining. MICHELS CORPORATION 817 W. Main Street - P.O. Box 128 - Brownsville, WI 53006-0128 Phone: 920-583-3132 FAX: 920-583-3429 CORPORATION Wisconsin Corporation since February 18, 1960 BANK: Federal I.D. No.: 39-0970311 National Exchange Bank&Trust Dun & Bradstreet I.D. No.: 00-580-9868, Rating 5A2 130 South Main Street Fond du Lac, WI 54936 Accounts Payable Manager: Missy Vande Zande ph 920-921-7700 fax 920-923-7021 Ext. 2319 Account No. 8620-2204 Contact: James R Chatterton, President OFFICERS/DIRECTORS: Ruth L. Michels* Chairman of the Board 364 Oakdale, Brownsville, WI 53006 Patrick D. Michels* CEO/President 750 Meadow Ridge Lane, Brownsville, WI 53006 John F. Schroeder Executive V.P/CFO W5027 Reinhart Road, Fond du Lac, WI 54937 Timothy J Michels V.P/Treasurer 6831 State Hwy 83, Hartland, Wi 53029 Kevin P Michels V.P/Secretary 945 Country Club Lane, Fond du Lac, WI 54937 *Denotes Director BONDING COMPANY: BONDING AGENT: CNA Surety Andrea Warning 801 Warrenville Road, Suite 700 Phone: 630-719-3100 Lisle, IL 60532 Fax: 630-719-3305 Liberty Mutual Surety Jason Rogers 8044 Montgomery Road, Ste 150E Phone: 513-792-1862 Cincinnati, OH 45236 Mobile: 248-765-8645 TRADE REFERENCES: TT Technologies w York Street Ziegler Inc. Yak Mat, LLC 2020 E Ne Aurora, IL York 901 W. 94th Street 2438 Hwy 98 East Phone: 630-851-8200 Bloomington, MN 55420 Columbia, MS 39429 Fax: 630-851-8299 * Phone: 952-888-4121 Phone: 601-633-6449 mmaynard(a-).tttechnologies.com Fax: 952-885-8212 Fax: 601-633-6649 Attn: MaryAnne Maynard Attn: Diana Fransen d avid.sum merlin(a)yakmat.com Attn: David Summerlin North American Composites Rugged Enterprises LLC 300 Apollo Drive 4268 Beagle Road Aring Equipment Co Inc Lino Lakes, MN 55014 White City, OR 97503 PO Box 88256 Phone: 800-736-5497 Phone: 541-826-8258 Milwaukee, WI 53288 Fax: 651-784-7237* Fax: 541-826-8358 Phone: 262-781-3770 csacre(a.ip-corporation.com rugged(a-)embargmail.com Fax: 262-790-2735 Attn: Credit Manager Attn: Patti Foltz swatson(o)aring.com Attn: Sarah Watson Jeta Corporation EH Wolf& Sons P.O. Box 336 PO Box 348 Neenah, WI 54957-0336 Slinger, WI 53086 Phone: 888-380-0805 Phone: 262-644-5030 Fax: 920-486-7078 Fax: 262-644-5424 Ilake(a)ietacorp.com Attn: Megan Homuth Attn: Laura Lake *Denotes preferred method of contact Revised 06.13.17 130 South Main Street ange PO Box 988 National Exch Fond du Lao,WI 54936-098$ Bank&Trust Phone 920.921.7700 www.nebat.com July 19,2017 To Whom it May Concern The purpose of this letter is to provide you with a reference on Michels Corporation. Michels Corporation has banked with National Exchange Bank&Trust for over forty years and has handled all accounts in a very satisfactory manner. Michels Corporation maintains an average depository account balance in the low eight figure range and has a secured credit facility available to them in the low nine figure range. Michels Corporation is considered a very valued customer of National Exchange Bank & Trust. We consider the company to be a well-financed and well run operation and the ownership and management of the company to be individuals of integrity. We feel you can deal in confidence with this company. Should you have any questions or concerns,please do not hesitate to contact me. Sincerely, ;ares R. Chatterton President&COO ddp CONSENT RESOLUTION OF THE BOARD OF DIRECTORS OF MICHELS CORPORATION JANUARY 2,2017 The undersigned, being the Board of Directors of MICHELS CORPORATION, a Wisconsin corporation, pursuant to Section 180.0821 of the Wisconsin Statutes, do hereby consent to the following acts taken without a meeting: RESOLVED: that any of the following elected officers and appointed managers shall have the ability to legally negotiate and execute contracts and agreements on behalf of the Corporation for the fiscal year ending December 31, 2017 or until their respective successors have been elected and qualified: Chairman of the Board Ruth L. Michels Chief Executive Officer Patrick D. Michels President Patrick D. Michels Executive Vice President John Schroeder Vice President Kevin P. Michels Vice President Steven R. Michels Vice President Timothy J. Michels Vice President Brian P. Johnson Vice President Mark E. Hutter Assistant Vice President Murray Luedtke Assistant Vice President Phillip P. Michels Treasurer Timothy J. Michels Chief Financial Officer John Schroeder Chief Legal Officer A. David Stegeman Secretary Kevin P. Michels Assistant Secretary Mary H.Ausloos Assistant Secretary Susan P. Kaiser Assistant Secretary Ann Geschke Assistant Secretary Jill A. LaRonge Senior Executive Advisor Brian P. Johnson Senior Advisor James E. Stevens Senior Vice President—Construction Operations Robert H. Westphal Senior Vice President—Michels Pipeline Construction Division Robert C. Osborn Senior Vice President—Michels Materials Division John J. Westerman Senior Vice President—Michels Power Division Mark Harasha Senior Vice President Daniel Gellings Senior Group Vice President Jerrod T. Henschel Vice President—Finance Jason Kozelek Vice President—Construction Management Tom Hessling, P.E Vice President—Michels Materials, Pit and Quarry Operations Robert A. Bingen Vice President—Michels Paving Division Michael R. Debelak Vice President—Michels Pipe Services Division Patrick Herzog Vice President—Michels Directional Crossings Division Timothy McGuire Vice President—Michels Materials, Road Construction Operations Otto J. Ramthun, Jr. Vice President—Mergers&Acquisitions and Strategic Partnerships A. David Stegeman Vice President—Human Resources Karen Wuest Senior Director—Information Systems and Technology Julie Weston Senior Manager—Supplier Diversity& Business Development Herb Miller General Manager—Michels Materials Division, Crushing Operations Chris Trapp General Manager—Michels Civil Division James H. Black, Jr. General Manager—Michels Foundations Division James S. Claeys General Manager—Anderson Bros. &Johnson Thomas D. Ellias General Manager—Dewatering Operations, Mi-Con Joseph Hockberger Dated this 2nd day of January, 2017 Ruth L. ilichaZ Director atrick D. Michels, Director CONSENT RESOLUTION OF THE BOARD OF DIRECTORS OF MICHELS CORPORATION FEBRUARY 7, 2017 The undersigned, being the Board of Directors of MICHELS CORPORATION, a Wisconsin corporation, pursuant to Section 180.0821 of the Wisconsin Statutes, do hereby consent to the following acts taken without a meeting: RESOLVED:that the following employees of Michels Pipe Services, a Division of Michels Corporation,shall have the following authority vested in it by the Board of Directors through this Consent Board Resolution for the fiscal year ending December 31,2017,or until their respective successors have been elected and qualified: Kelsey Wasmund, Contracts &Administration Coordinator, shall have specific and limited authority to sign pay requests,associated lien waivers,and attest to official documentation of Michels Pipe Services. David R. Phelps, Assistant Secretary and Contracts Manager—Western Region, shall have the authority to legally negotiate and execute bonds, bid documents,contracts,and agreements for Michels Pipe Services. Scott O'Dell, Western Regional Manager, on behalf of Michels Pipe Services, shall have the authority to legally negotiate and execute bonds, bid documents,contracts,and agreements. Lee A. Zubrod, Regional Operations Manager in Hawaii, on behalf of Michels Pipe Services, shall have the authority to legally negotiate and execute bonds, bid documents,contracts, and agreements. Mr.Zubrod shall also have the authority to execute all work orders issued to Michels Pipe Services on existing Hawaii contracts. David Rosenberg, Senior Manager Business Development and Water Rehabilitation Services, on behalf of Michels Pipe Services, shall have the authority to legally negotiate and execute bonds, bid documents, contracts, and agreements. Donald J. Grebe, Senior Project Manager Midwest Region, on behalf of Michels Pipe Services, shall have the limited authority to execute subcontracts of$500,000 or less, both when Michels subcontracts work and when Michels is the subcontractor. Mr. Grebe shall also have authority to approve invoices for Michels Pipe Services, Midwest Region Projects. Matt Hubert is Assistant Secretary and Regional Manager of Michels Corporation. Mr. Hubert is hereby authorized to legally negotiate and execute bonds, bid documents,contracts and agreements. Treva Mesias is Assistant Secretary of Michels Corporation. Ms. Mesias shall have specific limited authority to sign pay requests,associated lien waivers, and attest to official documentation. David Ebner, Sr. Manager, shall have the limited authority to execute subcontracts of$500,000 or less for Heitkamp, a Division of Michels Corporation, both when Michels subcontracts work and when Michels is a subcontractor.Mr.Ebner shall also have the authority to approve invoices for Heitkamp,a Division of Michels projects. Will Markey, Sr. Manager, shall have the limited authority to execute subcontracts of$500,000 or less for Heitkamp, a Division of Michels Corporation, both when Michels subcontracts work and when Michels is a subcontractor. Mr. Markey shall also have the authority to approve invoices for Heitkamp, a Division of Michels projects. Paul Mallory, Sr. Manager Special Projects, shall have the limited authority to execute subcontracts of $500,000 or less, both when Michels subcontracts work and when Michels is a subcontractor. Mr. Mallory shall also have the authority to approve invoices. Dated this 2nd day of January,2017. R th L. Michel ,--Director trick D. Michels, Director MICHELS® Donald Sch1witz Superintendent PROFESSIONAL 2017: Superintendent EXPERIENCE Michels Pipe Services I Brownsville, WI Job duties consist of rehabilitating old storm and waste water sewers using a method known as cured-in-place pipe(CIPP).Also includes job layout,crew scheduling, and safety management involving traffic control,confined space entry,and basic power tool usage. Equipment used consists of vacuum/high presser cleaners,closed circuit TV inspection,steam and hot water boiler operations. 2016: Foreman Superior Gunite I Baltimore, MD Responsible for project management. Daily crew assigment, over seeing install of all liners UV. Turning in necessary paper work and documents for payment. 2015—2016: Superintendent Spiniello Co I Baltimore, MD Responsible for project management, Daily crew assigments, Prepared daily activity and job reports,supervised crew activities and make sure that jobs run smoothly.Conducted weekly tool box safety talks and responsible for all crew safety. Provided proper PPE for talks to crews. 2007—2016: Foreman Insitufrom Tech I Austin, TX Installed liners,TV,cut taps, ran boiler, ran jet truck and conducted all safety meetings. PROJECT • Baltimore City I SC-902,903,943; Install CIPP— Baltimore, MD PROFILES . Baltimore County I SC-4478,4487; Install CIPP— Baltimore, MD • Cherry Hill I WSSC Rock Creek; Install 12,000 lineal feet of 36"UV Cured Lining— Washington DC • Santa Barbara I Coastal Infiltration Reduction; Install 3,000 lineal feet of 33"UV Cured CIPP—Santa Barbara,CA • Sundance Construction I Jalmia; Install 1,000 lineal feet of 48"UV Cured CIPP— Hollywood, CA • County of Utah Wastewater District; Install 6,000 lineal feet of 36"UV Cured Lining— County of Utah, UT • Cherryl Hill I WSSC; Install 60,000 lineal feet of 8", 10",and 12"UV Cured Lining— Washington, DC TRAINING & • OSHA 30-Hour CERTIFICATIONS • FMCSA(AD) . Hazmat Trans&Security-haz Com Reasonable Suspicion Training Backhoe Safety 817 Main Street,PO Box 128•Brownsville,Wl 53006 1 920-583-3132 1/2 1 Revised 08/04/2017 TRAINING & • Confined Space for Construction CERTIFICATIONS • Construction Forklift (continued) EQUIPMENT • Backhoe EXPERIENCE Excavator . Forklift . Boom Truck . Skid Steer-UV Cure Truck Ist Cutting System PC-150 and 200 EDUCATION San Marcos High School I San Marcos, TX High School Diploma 817 Main Street,PO Box 128•Brownsville,WI 53006 1 920-583-3132 2/2 1 Revised 08/04/2017 MICHELS' Mike Mills Superintendent PROFESSIONAL 2016— Present: Superintendent EXPERIENCE Michels Pipe Services I Watertown, CT Responsible for managing field and site operations. 2006—2016: General Super!ntendent/Superintendent Abel Recon I Mountville, PA Responsible for managing field operations. 2004—2006: Field Inspector Frazier Engineering I Charlotte, NC Responsible for smoke testing,stream crossing GPS and MH GPS inspections. 2002—2004: Foreman American Water I Charlotte, NC Responsible for CCTV back-up crew, reinstating services,grouting services and all CCTV related items. Ultra Violet CIPP Installed 8-inch 172,554 LF, 10-inch 4,518 LF, 12-inch 18,896 LF, 14-inch 1,005 LF, 15-inch 841 LF, 16-inch 28 LF, 18-inch 1,324 LF,20-inch 1,455 LF,21-inch 240 LF,24-inch 4,028 LF,30-inch 620 LF,42- inch 55 LF,48-inch 37 LF PROJECT • Burlington County Storm Department of Finance I Burlington County PROFILES Stormwater Quality Enhancement Contract#01; Installed 3,721 LF of 15 to 48-inch UV CIPP— Burlington County, NJ • Atlanta City Sewerage Company I Atlantic City CIPP Various Sewer Mains 2016 A-10740/Atlantic City CIPP Job A-10740; Installed 13,614 LF of 8 to 12-inch UV CIPP—Atlanta City, NJ • Windsor Township I Windsor Township Project#1 CIPPL/Windsor Road Lining; Installed 16,959 LF of 8 to 14-inch UV CIPP—Windsor, PA • City of Dover I Dover, DE McKees Run Sewer Pipe Lining/Dover DE St. Jones River Sewer Pipe Lining/Dover DE Maintenance; Installed 1,039 LF of 8 to 30-inch UV CIPP— Kent, DE • North Lebanon Township Municipal Authority I North Lebanon Sliplining Phase 2/North Lebanon Township 2012 Pipe Lining Project Phase III/North Lenabobb Township 2010 Phase II Pipe Lining Project/North Lebanon Township 2010 Pipe Lining Project ; Installed 10,268 LF of 8 to 12-inch UV CIPP — Lebanon, PA • New Castle County Purchasing Division I New Castle City Brandywine 100 Contract 2009-05; Installed 55,934 LF of 8 to 12-inch UV CIPP— New Castle, DE 99 Callender Road•Watertown,CT 06795 1 860-274-5468 1/2 1 Revised 08/07/2017 TRAINING & • OSHA 30-Hour Construction CERTIFICATIONS • First Aid Certified . PACP Certified Spray ROQ Certified Certified Alpha Liner Installer . Certified Alpha Liner Cure Confined Space Awareness EQUIPMENT • UV Cure Truck EXPERIENCE . UV Blower Truck Jet Truck . CCTV Truck . Capastan Winch Forklift Operator . Extended Boom Forklift Mini Excavator EDUCATION Seminole State College of Florida Sanford, FL Seminole High School I Sanford, FL High School Diploma 99 Callender Road•Watertown,CT 06795 1 860-274-5468 2/2 I Revised 08/07/2017 CORPORATION Corporate Names and Affiliate Companies Operating Divisions of Michels Corporation: • Anderson Bros.and Johnson, a Division of Michels Corporation • Continental Fabrication Services, a Division of Michels Corporation • Heitkamp, a Division of Michels Corporation • Mi-Con, a Division of Michels Corporation • Michels Civil, a Division of Michels Corporation • Michels Crushing, a Division of Michels Corporation • Michels Direct Pipe, a Division of Michels Corporation • Michels Directional Crossings, a Division of Michels Corporation • Michels Foundations,a Division of Michels Corporation • Michels Gas Distribution, a Division of Michels Corporation • Michels Highway,a Division of Michels Corporation • Michels Materials, a Division of Michels Corporation • Michels Paving, a Division of Michels Corporation • Michels Pipe Services, a Division of Michels Corporation • Michels Pipeline Construction, a Division of Michels Corporation • Michels Power, a Division of Michels Corporation • Michels Stone, a Division of Michels Corporation • Michels Tunneling, a Division of Michels Corporation Affiliate Companies: • Michels Canada Co. PO :. 00. CORPORATION Corporate Names and Affiliate Companies Operating Divisions of Michels Corporation: • Anderson Bros.and Johnson, a Division of Michels Corporation • Continental Fabrication Services, a Division of Michels Corporation • Heitkamp, a Division of Michels Corporation • Mi-Con,a Division of Michels Corporation • Michels Civil, a Division of Michels Corporation • Michels Crushing, a Division of Michels Corporation • Michels Direct Pipe, a Division of Michels Corporation • Michels Directional Crossings, a Division of Michels Corporation • Michels Foundations, a Division of Michels Corporation • Michels Gas Distribution, a Division of Michels Corporation • Michels Highway,a Division of Michels Corporation • Michels Materials,a Division of Michels Corporation • Michels Paving, a Division of Michels Corporation • Michels Pipe Services,a Division of Michels Corporation • Michels Pipeline Construction, a Division of Michels Corporation • Michels Power, a Division of Michels Corporation • Michels Stone, a Division of Michels Corporation • Michels Tunneling, a Division of Michels Corporation Affiliate Companies: • Michels Canada Co. MICHELS CORPORATION January 26,2017 STATE ISSUED STATE ID# EXPIRE DATE ALABAMA 2/8/1989 892-132 Perpetual ALASKA 4/4/2012 10004256 Perpetual ARIZONA 11/19/1988 F-0042081-1 Perpetual ARKANSAS 9/12/1983 100063352 Perpetual CALIFORNIA 1/25/1988 C1606307(d/b/a Michels Pipeline Construction) Perpetual COLORADO 11/27/1987 CERT OF AUTHORITY#19871761469 Perpetual CONNECTICUT 12/3/1987 CERT OF AUTHORITY#0209936 Perpetual DELAWARE 4/5/2002 3512544 Perpetual FLORIDA 1/4/1984 P00486 Perpetual GEORGIA 2/1/1988 CERT OF AUTHORITY#J802558 Perpetual HAWAII 11/7/1997 18627 F1(d/b/a Michels of Wisconsin) Perpetual IDAHO 11/16/1987 CERT OF AUTHORITY#C0085221 Perpetual ILLINOIS 8/12/1991 CERT OF AUTHORITY#5649-392-1 Perpetual INDIANA 10/25/1973 CERT OF AUTHORITY#197310-492 Perpetual IOWA 10/17/1984 CERT OF AUTHORITY#98083 Perpetual KANSAS 11/17/1987 CERT OF AUTHORITY#7372204 Perpetual KENTUCKY 12/2/1987 CERT OF AUTHORITY#0236997 Perpetual LOUISIANA 12/10/1987 CERT OF AUTHORITY#34252553F Perpetual MAINE 11/16/1987 CERT OF AUTHORITY#19880259F Perpetual MARYLAND 11/16/1987 F02449692 Perpetual MASSACHUSETTS 11/23/1987 CERT OF AUTHORITY#87 317002 Perpetual MICHIGAN 3/16/1984 621534 Perpetual MINNESOTA 12/2/1987 CERT OF AUTHORITY#42455 Perpetual MISSISSIPPI 4/1/2002 715020 Perpetual MISSOURI 8/26/1983 CERT OF AUTHORITY#F00255500 Perpetual MONTANA 2/22/1982 CERT OF AUTHORITY#F014238 Perpetual NEBRASKA 11/17/1987 CERT OF AUTHORITY#0928579 Perpetual NEVADA 12/18/1987 NV19871040179 12/31/2017 NEW HAMPSHIRE 1/25/1988 CERT OF AUTHORITY#122837 Perpetual NEW JERSEY 1/18/1989 CERT OF AUTHORITY#100402956 Perpetual NEW MEXICO 7/11/1988 1399336(d/b/a Michels Corporation of Wisconsin) Perpetual NEW YORK 12/23/1988 CERT OF AUTHORITY#1228006 Perpetual NORTH CAROLINA 12/11/1987 CERT OF AUTHORITY#0219529 Perpetual NORTH DAKOTA 12/16/1985 CERT OF AUTHORITY#1383400 Perpetual OHIO 12/28/1987 CERT OF AUTHORITY#715441 Perpetual OKLAHOMA 11/17/1987 CERT OF AUTHORITY#2300462169 Perpetual OREGON 4/8/1988 CERT OF AUTHORITY#111870-85 Perpetual PENNSYLVANIA 11/9/1987 CERT OF AUTHORITY#1001647 Perpetual RHODE ISLAND 11/23/1987 CERT OF AUTHORITY#45221 Perpetual SOUTH CAROLINA 11/5/2001 CERT OF AUTHORITY#63922 Perpetual SOUTH DAKOTA 2/4/1981 CERT OF AUTHORITY#FB007528 Perpetual TENNESSEE 2/27/1981 CERT OF AUTHORITY#0101315(d/b/a Michels Corporation of Tennessee) Perpetual TEXAS 11/16/1987 CERT OF AUTHORITY#7469806 Perpetual UTAH 11/23/1987 CERT OF AUTHORITY#983982-0143 Perpetual VERMONT 12/28/1987 CERT OF AUTHORITY#F117760(d/b/a Michels Corporation of Vermont) Perpetual VIRGINIA 11/14/1989 CERT OF AUTHORITY#F102102 Perpetual WASHINGTON 12/22/1987 UBI#601-061-071 12/31/2017 WASHINGTON D.C. 5/10/1999 CERT OF AUTHORITY#991495-FBU Perpetual WEST VIRGINIA 11/24/1987 CERT OF AUTHORITY#119453 Perpetual WISCONSIN 2/18/1960 1 M10573 Perpetual WYOMING 11/25/1987 CERT OF AUTHORITY#1987-000245275 Perpetual Michels Corporation Contractor's Board&Professional Licenses-February 10,2017 State License Number Description Exp.Date Qualifying Party ALABAMA 45806 Gen.Contractor,Municipal&Utility 4/30/2017 Nick Pfundheller ALASKA 27457 General Contractor-Residential Limited 12/31/2018 Jerrod Henschel ALASKA 1678 Electrical Administrator 12/31/2017 Jerrod Henschel ALASKA 1792 Unlimited Line Work Outside 1 213 112 01 7 William Schulz ARIZONA ROC252830 Class A-Commercial Engineering 3/31/2017 Benjamin Nelson ARKANSAS 33600505 Heavy Construction,Municipal/Utility Const 5/31/2017 CALIFORNIA 553612 Class A-General Engineering 1/31/2019 Benjamin Nelson CALIFORNIA 553612 C-10 Elecrical 1/31/2019 Zeb Green CALIFORNIA 553612 G-34 Pipeline 1/31/2019 Paul Mallory COLORADO PE.0051113 Professional Engineer 1 0131/2 0 1 7 Dustin Fell CONNECTICUT PLM.0280739-P7 Plumbing&Piping Contractor 1 013112 01 7 David Ebner DELAWARE 1989008971 Contractor-Non-Resident Pending Renewal DISTRICT OF COLUMBIA 400317800741 Basic Business License 10/31/2020 FLORIDA CUC1225206 Underground Excavation Contractor 8/31/2018 Paul Mallory GEORGIA UM102463&UM102466 Utility Manager 4/30/2017 Pending GEORGIA UC302269 UtIIItV Contractor 4/30/2017 GEORGIA uF2o4991 Utility Foreman 4/30/2017 Paul Mallory GEORGIA PENDING Utility Foreman Pending Michael Geelan GEORGIA GA 6330 WD Water Well Contractor 6/30/2017 Joe Hockber er HAWAII AC-21493 Contractor AC 9/30/2017 Firm License HAWAII AC-33921 A General Engineering&C-37a-Sewer&Drain Line 9/30/2017 Paul Mallory HAWAII AC-34869 A General Engineering 9/30/2017 Darrel R.Johnston IDAHO 16115-AAA-4 02404/HDD,Bori ,Tunnelin,02500/Utilities,02955/Pi eline Lining 9/30/2017 Nick Pfundheller ILLINOIS 119569-00 Illinois Department of Human Rights 3/19/2019 ILLINOIS 1087 State Board of Electrons Perpetual ILLINOIS 62.047668 Professional Engineer 11/30/2017 Greg Miller ILLINOIS 062060038 Professional Engineer Civil 11/30/2017 David R.Sutfin ILLINOIS 081007248 Structural Engineer 1 113 0/2 0 1 6 David R.Sutfin ILLINOIS PENDING Professional Design Firm Pending Firm License via D.Sutfin INDIANA 810 WD Water Well Drill 1213112017 Joe Hockber er INDIANA PE11500024 Professional Engineer Civil/Structural 7/31/2018 David R.Sufn IOWA 86410-05 Contractor Registration 9/17/2017 IOWA 9923 Well Drilling 6/30/2018 Joe Hockber er IOWA EL-116693-EC Electrical Contractor 1 2131/2 0 1 9 IOWA EL-122838-MA Master Electrician Class A 1 2131/2 0 1 9 Paul Coenen IOWA EL-124626-JA Journeyman Class A 1 2131/2 0 1 9 Zeb Green IOWA 23451 Professional Engineer 12/31/2017 Dustin Fell IOWA 21332 Professional Engineer(Civil/Structural) 1 2/3112 01 7 David R.Sutfin KENTUCKY 4123 Permit to Practice Engineering 12/31/2017 Firm License KENTUCKY 31703 Professional Engineer 6/30/2017 Dustin Fell KENTUCKY 30908 Professional En ineer Civil/Structural 6/30/2018 David R.Sutfin LOUISIANA 25444 Transmission Pipeline 6/21/2018 Jason Pierre LOUISIANA 25444 Pie Work:7-43 Sewer Lines 7-44 Storm Drains 7-45 Water Lines 6/21/2018 Mike Geelan LOUISIANA 25444 Specialty.7-590 Telecommunications 6/21/2018 Mike Geelan LOUISIANA 25444 III-Heavy Construction,IV-Municipal and Public Works Construction 6/2 112 0 1 8 Paul Mallory MARYLAND 30980246 Out-of-State Contractor 4/30/2017 MINNESOTA EA003783 Class A Electrical Contractor 2/29/2018 MINNESOTA AM6913 Master Electrician 2/28/2019 Michael Smolcich MINNESOTA PC646114 Plumbing Contractor 1 2131/2 0 1 7 MINNESOTA MB674871 Mechnical Contractor 1 012 9/2 0 1 7 MINNESOTA PM065088 Master Plumber 1213112018 Grant J.Laska MINNESOTA 53606 Professional Engineer 6/3 012 0 1 7 Dustin Fell MINNESOTA 52469 Professional Engineer Civil/Structural 6/30/2018 David R.Sutfin MISSISSIPPI 08627 Utility Construction&Maintenance 10/8/2017 MISSOURI 2016021686 Professional Engineer 12/31/2018 Dustin Fell MONTANA 7784 Contractor Registration 9/30/2017 NEBRASKA 20370 Contractor R istmtion 4/1/2017 NEBRASKA 19294 Well Drilling Contractor 12/31/2018 Joe Hockbe er NEVADA 25282 Class A-Fib.Op.Cable&Conduit 6/30/2017 Ben Nelson/Paul Mallory NEVADA 53736 C42-Community Antenna,TV Sys. 9/30/2017 Jerrod Henschel NEW JERSEY 675783 Public Works Contractor Registration 3/11/2018 NEW MEXICO 51655 GF09-Utility Lines 1/3 112 0 1 7 Jerrod Henschel NEW MEXICO 51655 GF08-Transmission Lines 1/31/2017 Jason Pierre NEW MEXICO WD-1738 Jetting&Driving Wells 9/30/2018 Joe Hockberger NEW YORK NYRD10958 Well Drilling and Repair 3/3112 0 1 7 Joe Hockberger NORTH CAROLINA 29269 PU Communications 1 2131/2 0 1 7 NORTH CAROLINA 29269 PU Fuel Distribution 12/31/2017 Nick Pfundheller NORTH CAROLINA 29269 S(Boring&Tunneling) 1213112017 Michael Geelan NORTH CAROLINA 29269 PU Sewer&Water Lines 12/31/2017 Paul Mallo NORTH DAKOTA 1843 Class 3/1/2017 NORTH DAKOTA M2561 Master Electrical 4/30/2017 Mike Smolcich NORTH DAKOTA PE-10573 Professional Engineer 12/31/2018 Dustin Fell NORTH DAKOTA PE-10035 Professional Engineer Civil/Structural 12/31/2018 David R.Sutfin NORTH DAKOTA 895PE Certificate of Commercial Practice 12/31/2017 OHIO 003639 Private Water Systems Contractor 12/31/2017 Joe Hockbe er OREGON 114278 Residential and Commercial General Contractor 6/6/2018 Benjamin Nelson OREGON C830 Electrical Contractor 7/1/2017 Bob Williams OREGON PB1351 Plumbing Contractor 7/1/2017 OREGON 90371 PE Professional Engineer CiviVStmctural 613 012 01 8 David R.Sutfin PENNSYLVANIA 4633 Water Well Drillers License 513112017 Joe Hockberger PENNSYLVANIA PE084755 Professional Engineer 9/30/2017 Dustin Fell PENNSYLVANIA PE083407 Professional Engineer CiviVStructural 9/3 012 0 1 7 David R.Sutfin RHODE ISLAND 40432 Commercial&Residential Contractor Registration 10/1/2018 Michael Geelan SOUTH CAROLINA G10861 Class WI-5 water lines &BTS bore&tunnel 10/31/2017 Michael Geelan SOUTH CAROLINA G10861 Class PI-5(pipelines) 10/31/2017 Nick Pfundheller SOUTH CAROLINA G10861 Class 2U5 PU electric 1 0/3112 0 1 7.Bill Schulz SOUTH DAKOTA EC2799 Electrician License 6/30/2018 Michael Smolchich SOUTH DAKOTA 819 Well Drillers License Pending Renewal Joe Hockberger TENNESSEE 19959 Contractor MU-A,MU-B,MU-C 3/31/2017 Brian P.Johnson UTAH 344718-5551 Contractor/Occupational E100 11/30/2017 B.Nelson/P.Mallory VIRGINIA 2701 020506A Class A,Classification H/H 9/30/2018 VIRGINIA 2719001148 Certified Well Systems 12/31/2017 Joe Hockberger WASHINGTON MICHEC'999JB General Contractor 4/5/2018 WASHINGTON MICHR7906NO Electrical Contractor 8/2 012 01 8 WASHINGTON SIRKETM864PG Electrician EL01 Journey Level 7/31/2017 Troy M.Sirkel WASHINGTON WILLIRE973N2 Master Electrician 8/20/2018 Robert E.Williams WASHINGTON 53759 Professional Engineer 9/19/2018 Dustin Fell WASHINGTON 52460 Professional Engineer Civil 5/27/2018 David R.Sutfin WEST VIRGINIA WV014946 General Engineering 5/2/2017 Paul lory WISCONSIN 221614 Utility Contractor 3/31/2019 Donald Grebe WISCONSIN 240616 Dwelling Contractor Certification 8/1/2017 WISCONSIN 1296376 Dwelling Contractor Qualifier Certification 8/1/2018 Ben Koesell WISCONSIN E427596 Professional Engineer 7/3112 0 1 8 Ben Koe sell WISCONSIN 44164-6 Professional Engineer Civil/Structural 7/31/2018 David R.Sutfin WISCONSIN 221614 Master Plumber 3/31/2020 Donald Grebe WISCONSIN 240616 Electrical Contractor License 6/30/2020 Brian P.Johnson WISCONSIN 1402436 Professional Engineer 7/31/2018 William Schulz WISCONSIN 1962371 Master Electrician Certification 6/30/2019 Zebulan Green WISCONSIN 170824 Master Electrician Certification 6/30/2018 Michael A.Smolcich WEIBLE CAHILL December 30, 2016 Re: Michels Corporation Brownsville, WI SURETY PREQUALIFICATION To Whom it May Concern: This letter will confirm that Michels Corporation and its subsidiaries are pre-qualified with its surety companies, Continental Casualty Company (A.M. Best rated A/financial size XV)and Liberty Mutual Insurance Company, (A.M. Best rated A/financial size XV) and regularly obtains Performance&Payment bonds in support of projects which require surety bonds. The Continental Casualty Company relationship with this highly regarded and valued firm was established in 2001. The sureties have approved single projects in excess of$390 Million and aggregate bonded work programs up to $1 Billion for Michels Corporation. Continental Casualty Company and Liberty Mutual Insurance Company have made this significant capacity available to Michels Corporation based upon the company's strong financial position, impressive team of professionals, and successful completion of contracts. Continental Casualty Company and Liberty Mutual Insurance Company have developed a great confidence in Michels Corporation and offer their highest recommendation. This letter is not to be construed as an agreement to provide surety bonds for any particular project but is offered as an indication of past experience and confidence in this firm. Any specific request for bonds will be underwritten on its own merits. Should you have any questions please feel free to contact me. Sincerely, Ko Kimberly R. Holmes Attorney-in-Fact CC: Continental Casualty Company Liberty Mutual Insurance Company 2300 Cabot Drive,Suite 100 1 Lisle, Illinois 60532 • Phone: 630.245.4600 • Fax: 630.245.4601 CORPORATIR Financial Statements Michels Corporation is a private, closely held company and we treat our financial statements with the utmost confidentiality. It is our standard practice to provide our most recent audited balance sheet which we believe clearly demonstrates the financial strength and stability of our company.Additionally, unaudited quarterly balance sheets can be made available upon request. Should you require additional information, beyond what is included in the audited balance sheet, our Executive Vice President and CFO,John Schroeder,will be happy to meet with your financial personnel at your offices to personally review and discuss a full set of audited financial statements and notes, including the income and cash flow statements.We have used this process with numerous clients in the past who have found the face-to-face review to be very informative and effective.We trust that you will understand the necessity for our confidentiality. If you would like to request our most recent unaudited quarterly balance sheet or schedule a face-to-face review of our full financials, please contact our Corporate Administrator,Jessica Nelson, at 920.583.1479 or inelson@michels.us. GrantThornton Consolidated Balance Sheets and Report of Independent Certified Public Accountants M10, Inc. and Subsidiaries December 31, 2015 and 2014 Contents Page Report of Independent Certified Public Accountants 3 Consolidated balance sheets 5 Notes to consolidated balance sheets 7 GrantThornton Grant Thornton LLP 2501 E Enterprise Avenue,Suite 300 PO Box 1097 Appleton,WI 54912-1097 REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS T920.968.6700 F 920.968.6719 GrantThomton.com linkd.in/GrantThorntonUS twifter.com/GrantThorntonUS Board of Directors M10,Inc. and Subsidiaries We have audited the accompanying consolidated balance sheets of M10,Inc. and Subsidiaries as of December 31,2015 and 2014,and the related notes to the financial statements. Management's responsibility for the financial statements Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America;this includes the design,implementation,and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement,whether due to fraud or error. Auditor's responsibility Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly,we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Grant Thornton LLP U.S.member firm of Grant Thornton Intemafional Ltd OGrantThornton Opinion In our opinion,the consolidated financial statements referred to above present fairly,in all material respects,the financial position of M10,Inc.and Subsidiaries as of December 31,2015 and 2014,in accordance with accounting principles generally accepted in the United States of America. :� -i1,VIIAW-11 I-LIP Appleton,Wisconsin March 24,2016 Grant Thornton LLP U.S.member firm of Grant Thornton Inlernafional Ltd M10,Inc. and Subsidiaries CONSOLIDATED BALANCE SHEETS December 31, (In thousands,except share amounts) ASSETS 2015 2014 CURRENT ASSETS Cash and cash equivalents $ 49,333 $ 33,865 Marketable securities 1,197 1,102 Contract receivables,net of allowance for bad debts and contract adjustments of$3,961 and$1,901 at December 31, 2015 and 2014, respectively 352,544 362,611 Costs and estimated earnings in excess of billings on uncompleted contracts 34,840 87,906 Inventories 22,282 24,549 Prepaid expenses and other 13.086 13334 Total current assets 473,282 523,367 PROPERTY AND EQUIPMENT -net of accumulated depreciation and depletion of$606,704 and$541,292 at December 31,2015 and 2014,respectively 438,078 421,284 INVESTMENT IN JOINT VENTURES 8,964 12,114 OTHER ASSETS Intangible assets,net Goodwill 14,011 15,866 Other 898 1.115 14,909 16,981 Other long-term assets 14.963 14.178 Total other assets 29.872 31.159 $ 5` " $ 5 M10,Inc. and Subsidiaries CONSOLIDATED BALANCE SHEETS-CONTINUED December 31, (In thousands,except share amounts) LIABILITIES AND EQUITY 2015 2014 CURRENT LIABILITIES Line of credit $ - $ 38,250 Current maturities of long-term obligations 42,873 34,524 Accounts payable 85,432 99,442 Billings in excess of costs and estimated earnings on uncompleted contracts 56,816 98,481 Accrued liabilities 86,394 55,877 Accrued dividend for shareholder income taxes 6300 1,900 Total current liabilities 277,815 328,474 LONG-TERM OBLIGATIONS,less current maturities 112,356 85,412 OTHER LONG-TERM LIABILITIES 32,208 30,768 COMMITMENTS AND CONTINGENCIES EQUITY Shareholders'equity Controlling interests Class A voting common stock,no par value;400 shares authorized; 180.305 shares issued and outstanding at December 31,2015 and 2014 - - Class B non-voting common stock,no par value;39,600 shares authorized;20,345.5 shares issued and outstanding 20 20 Retained earnings 531,035 540,217 531,055 540,237 Accumulated other comprehensive loss 12 562) (3,811 Total shareholders'equity 518,493 536,426 Non-controlling interest Retained earnings 9,326 6,883 Accumulated other comprehensive loss (2) 39) Total non-controlling interest 9.324 6,844 Total equity 527,,817 543,270 $950,1969L� $� The accompanying notes are an integral part of these statements. 6 M10,Inc. and Subsidiaries NOTES TO CONSOLIDATED BALANCE SHEETS December 31,2015 and 2014 (In thousands) NOTE A-SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES M10, Inc. and Subsidiaries, formerly Michels Holdings, Inc., (the Company) are full-service utility and civil construction contractors with additional expertise in specialized design,engineering and inspection applications. The majority of the Company's operations are within the United States. The Company's primary operations consist of mainline pipelines for natural gas and petroleum products; horizontal directional drilling and other trenchless construction methodology for a variety of crossings; electrical transmission, distribution and substation construction;industrial and commercial wiring;telecommunications (outside plant) design,permit, right-of-way and construction; renewable energy-related construction; drilled and structured concrete foundations,structural foundations and earth retention construction;sewer,water and tunnel construction and pipe rehabilitation; and bypass pumping and dewatering services. In addition, the Company performs civil engineering,environmental design and management services;and utility inspection services for verification and documentation of utility integrity. In Wisconsin,the Company is also a non-metallic mine operator producing both cut stone and custom crushed aggregates. The Company is also a road construction and paving contractor and related aggregate supplier in Wisconsin. On July 31, 2014, the Company purchased certain assets of CWE, Inc. (CWE) for approximately$1,315,paid on the date of acquisition. CWE provides a full spectrum of surveying, architectural, environmental and engineering services,ranging from municipal products and construction management to site development and property surveys. The following table summarizes the estimated fair value of the assets acquired on the date of acquisition: Equipment $ 181 Other assets 29 Other intangible assets 250 Goodwill 855 Total assets acquired $1.315 On May 7, 2014, the Company purchased substantially all of the assets of Badger Highways, Inc. for $1,625. Badger Highways, Inc. was a producer of crushed construction materials and a recycler of blacktop and concrete. The following table summarizes the estimated fair value of the assets acquired on the date of acquisition: Property and equipment $ 779 Inventory 831 Other intangible assets 15 Total assets acquired $LU5 A summary of the Company's significant accounting policies consistently applied in the preparation of the accompanying consolidated financial statements follows. Principles of Consolidation The consolidated financial statements include the accounts of M10, Inc. (M10) and its subsidiaries: Michels Corporation (Michels), Equix, Inc. (Equix), Michels Canada, Co. (Michels Canada), Michels Corporation Company Ltd. (MCC),Mi-Hanger,Inc.,P&Q Holdings,Inc.and Mi-Property Investments Inc. Equix includes 7 M10,Inc. and Subsidiaries NOTES TO CONSOLIDATED BALANCE SHEETS-CONTINUED December 31,2015 and 2014 (In thousands) the accounts of Mi-Tech Services,Inc.,CWE,SEPCON,Inc.,Global Integrity Solutions,Inc. and Diversified Energy Services,Inc. PTK Holdings,Inc. (PTK) leases equipment to Michels for use in operations. PTK has been consolidated with Michels as a variable interest entity. Use ofEstimates In preparing financial statements in conformity with accounting principles generally accepted in the United States of America,management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. Cash and Cash Equivalents The Company considers all highly liquid instruments purchased with original maturities of three months or less to be cash equivalents. The Company maintains its cash balances in several financial institutions,which at times may exceed federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash and cash equivalents. Marketable Securities Marketable investment securities (included in current assets) and long-term securities (included in other assets) include debt and equity securities held for investment purposes. These securities are considered available-for- sale securities and,therefore,are carried at fair market value. Marketable investment securities and long-term securities consist of investments in common stocks, fixed income securities, mutual funds and other securities with a fair value of$9,685 and $8,874 at December 31, 2015 and 2014,respectively. Purchases and sales of available-for-sale securities are recorded on the trade date, the date the securities are purchased or sold. The Company uses the specific identification method to determine the cost of marketable securities sold. Net unrealized holding gains on available-fox-sale securities of$65 and $699 were included in accumulated other comprehensive income as of December 31,2015 and 2014,respectively. Available-for-sale securities are exposed to various risks including,but not limited to,interest rate,market and credit risks. Due to the level of risks associated with certain investment securities, it is at least reasonably possible that changes in the value of investment securities will occur in the near term. Contract Receivables The majority of the Company's contract receivables are due from natural gas, petroleum product and electric power providers, telecommunications companies, and municipal sewer and water utilities throughout the United States and Canada, and state, county and municipal highway departments and local highway and construction contractors in Wisconsin. Credit is extended based on an evaluation of a customer's financial condition. Contract receivables are due within 30 days and are stated at amounts due from customers net of an allowance for bad debts and contract adjustments. Accounts outstanding longer than the contractual payment terms are considered past due. The Company determines its allowance by considering a number of factors,including the length of time contract receivables are past due,the Company's previous loss history,the customer's current ability to pay its obligation to the Company,and the condition of the general economy and 8 M10,Inc. and Subsidiaries NOTES TO CONSOLIDATED BALANCE SHEETS-CONTINUED December 31,2015 and 2014 (In thousands) the industry as a whole. The Company writes off contract receivables when they become uncollectible, and payments subsequently received on such receivables are credited to the allowance account. Interest is not accrued on past due receivables. Inventories Inventories consist of crushed rock and aggregates, construction materials and supplies and are stated at the lower of cost, determined by the first-in,first-out method,or market. Property and Equipment Property and equipment are stated at cost less accumulated depreciation and depletion. Expenditures for additions and improvements are capitalized,while replacements,maintenance and repairs that do not improve or extend the useful lives of the assets are expensed as incurred. Depreciation of property and equipment is provided for in amounts sufficient to relate the cost of depreciable assets to operations over their estimated service lives on a straight-line basis. A summary of estimated service lives follows: Asset description Life Land improvements 3 to 7 years Buildings and improvements 5 to 39 years Machinery and equipment 3 to 10 years Transportation equipment 3 to 7 years Office furniture and equipment 3 to 7 years Cost depletion on owned quarries and gravel pits is computed by the units of production method based on estimated recoverable reserves. Intangible Assets Intangible assets consist of the following as of December 31: 2015 2014 Goodwill,less accumulated amortization of$3,451 and$1,596 at December 31,2015 and 2014,respectively $14,011 $15,866 Non-compete agreements,less accumulated amortization of$412 and $272 at December 31,2015 and 2014,respectively 90 230 Patent,less accumulated amortization of$603 and$526 at December 31,2015 and 2014,respectively 808 885 $ 09 $ The Company is amortizing the cost of the non-compete agreements using the straight-line method over the term of the agreements of 2 to 5 years. The Company is amortizing the cost of the patents using the straight- line method over their legal life of 15 years. Goodwill is being amortized using the straight-line method over a period of 10 years. 9 M10,Inc. and Subsidiaries NOTES TO CONSOLIDATED BALANCE SHEETS-CONTINUED December 31,2015 and 2014 (In thousands) Long-lived Assets The Company reviews long-lived assets, such as property and equipment and other intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment recognized is measured by the amount by which the carrying amounts of the assets exceed their respective fair values. Contract Revenues The Company recognizes revenues on long-term contracts using the percentage-of-completion method based on the ratio of total cost incurred to total estimated cost(cost-to-cost method). Revenues from time and material contracts are recognized currently as the work is performed. Contract costs include all direct labor and material costs and those indirect costs related to contract performance, such as indirect labor, supplies, tools, insurance, repairs and depreciation. Changes in job performance, job conditions, estimated profitability and final contract settlements may result in revisions to both cost of construction and revenues,and are recognized in the period in which the revisions are determined. At the time a loss on a contract becomes known,the entire amount of the estimated ultimate loss is recognized. Costs and estimated earnings in excess of billings on uncompleted contracts represent revenues recognized in excess of amounts billed. Billings in excess of costs and estimated earnings on uncompleted contracts represent billings in excess of revenues recognized. Translation ofForeign Currencies All balance sheet accounts of the foreign subsidiaries,Michels Canada and MCC,are translated into U.S.dollars at the year-end rate of exchange,except certain capital accounts. Interest Rate Swap Agreements The Company has entered into interest rate swap agreements to manage its exposure to movements in interest rates that qualify as a cash flow hedge. The use of the interest rate swap agreements modifies the exposure of this risk with the intent to reduce the risk to the Company. The fair values of the Company's interest rate swap agreements are based on estimates using standard pricing models that take into account the present value of future cash flows as of the balance sheet date. The fair value of interest rate swaps is based on quotes from market makers of these instruments and represents the estimated amounts that the Company would expect to receive or pay to terminate the agreements. 10 M10,Inc. and Subsidiaries NOTES TO CONSOLIDATED BALANCE SHEETS- CONTINUED December 31,2015 and 2014 (In thousands) At December 31, 2015, the notional amounts, fixed rates and maturity dates of the interest rate swaps are as follows: Notional amount Fixed rate Maturity date $138 2.47% January 2016 126 2.47% January 2016 220 2.54% April 2016 Other Comprehensive Income (Loss) Other comprehensive income (loss)represents the change in reserve for future benefits from transactions that are not included in the consolidated statements of income and reported as a separate component of shareholders' equity. For the years ended December 31, 2015 and 2014, other comprehensive income (loss) consists of changes in unrealized gains and losses on available-for-sale investment securities, foreign currency translation adjustments and changes in the fair value of the Company's interest rate swap agreements. New Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, as a new topic, Accounting Standards Codification (ASC) Topic 606. The amendments are intended to provide a more robust framework for addressing revenue issues, improve comparability of revenue recognition practices and improve disclosure requirements. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date, which deferred the effective date of ASU 2014-09 by one year. ASU No. 2015-14 is effective for annual reporting periods beginning after December 15, 2018, and shall be applied using either a full retrospective or modified retrospective approach. Early adoption is permitted. The Company is currently evaluating, and has not determined the impact on the consolidated financial statements at this time. In April 2015, the FASB issued ASU No. 2015-03, Sim / ing the Presentation of Debt Issuance Costs,which requires entities to present debt issuance costs related to a recognized debt liability as a direct deduction from the carrying amount of the debt liability. ASU No. 2015-03 is effective for annual reporting periods beginning after December 15, 2015, and shall be applied on a retroactive basis. Early adoption is permitted. The Company is currently evaluating,and has not determined the impact on its consolidated financial statements at this time. In February 2016, the FASB issued ASU No. 2016-02, Leases Topic 842),which requires organizations that lease assets (lessees) to recognize the assets and related liabilities for the rights and obligations created by the leases on the balance sheet for leases with terms exceeding 12 months. ASU No.2016-02 defines a lease as a contract or part of a contract that conveys the right to control the use of identified assets for a period of time in exchange for consideration. The lessee in a lease will be required to initially measure the right-of-use asset and the lease liability at the present value of the remaining lease payments,as well as capitalize initial direct costs as part of the right-of- use asset. ASU No.2016-02 is effective for annual reporting periods beginning after December 15, 2019. Early adoption is permitted. The Company is currently evaluating,and has not determned the impact on its consolidated financial statements at this time. 11 M10,Inc. and Subsidiaries NOTES TO CONSOLIDATED BALANCE SHEETS- CONTINUED December 31,2015 and 2014 (In thousands) NOTE B -FAIR VALUE OF FINANCIAL INSTRUMENTS The Company measures the fair value of financial instruments in accordance with the fair value framework as established under generally accepted accounting principles. That framework provides a fair value hierarchy that provides the inputs to valuation techniques used to measure fair value. The three levels of the fair value hierarchy are described as follows: Level 1 -Quoted market prices in active markets for identical assets or liabilities. Level 2-Inputs other than Level 1 inputs that are either directly or indirectly observable. Level 3 -Unobservable inputs developed using the Company's estimates and assumptions,which reflect those that market participants would use. The asset's or liability's fair value measurement within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. The Company evaluates its hierarchy disclosures annually and, based on various factors, it is possible that an asset or liability may be classified differently from year to year. However, the Company expects that changes in classifications between different levels will be rare. The following is a description of valuation methodologies used for assets and liabilities measured at fair value, as well as the general classification pursuant to the valuation hierarchy. Except as specifically identified below, all other current assets and liabilities have a carrying value that approximates fair market value due to the short- term nature of the accounts. Interest rates currently available for debt with similar terms and remaining maturities are used to estimate fair value of existing debt. Marketable Securities (Available-for-Sale Securities) When quoted market prices are available in an active market, securities are classified within Level 1 of the fair value hierarchy. If quoted market prices are not available or accessible, then fair values are estimated using pricing models, matrix pricing or discounted cash flow models. The fair value of securities estimated using pricing models or matrix pricing are generally classified within Level 2 of the fair value hierarchy. When discounted cash flow models are used, there is limited activity or less transparency around inputs to the valuation, and these securities are classified within Level 3 of the fair value hierarchy. Derivatives (Interest Rate Swap Agreements) The fair value of the Company's interest rate swap agreements is based on estimates using standard pricing models that take into account the present value of future cash flows as of the balance sheet date. The fair value of the interest rate swaps is based on quotes from the market makers of these instruments and represents the estimated amounts that the Company would expect to receive or pay to terminate the agreements. 12 M10,Inc. and Subsidiaries NOTES TO CONSOLIDATED BALANCE SHEETS- CONTINUED December 31,2015 and 2014 (In thousands) The following summarizes the valuation of financial instruments measured at fair value on a recurring basis in the consolidated balance sheets at December 31: 2015 Total Level Level Level Assets Available-for-sale securities (note A) $9,685 $9,685 $ - $ - Liabilities Derivatives payable (other long-term obligations) 2 - 2 - 2014 Total Level Level Level Assets Available-for-sale securities (note A) $8,874 $8,874 $ - $ - Liabilities Derivatives payable (other long-term obligations) 39 - 39 - NOTE C-CONTRACT RECEIVABLES AND UNCOMPLETED CONTRACTS Contract receivables consist of the following at December 31: 2015 2014 Contracts Billed Contracts completed and in progress $244,432 $244,142 Retainage 96,846 92,775 Unbilled receivables on contracts 8,574 25,128 Other 6;653 2,467 Total 356,505 364,512 Less allowance for bad debts and contract adjustments 3 961) 1 901) Net receivables $352,544 $ 63 Included within costs incurred on uncompleted contracts is $5,135 and $3,537 of accrued future losses on uncompleted contracts (included in accrued liabilities on accompanying consolidated balance sheets) as of December 31, 2015 and 2014,respectively. The Company has a$27,480 award fee on a contract that has not commenced (included in accrued liabilities on the accompanying consolidated balance sheets) as of December 31,2015. 13 M10,Inc. and Subsidiaries NOTES TO CONSOLIDATED BALANCE SHEETS- CONTINUED December 31,2015 and 2014 (In thousands) Information with respect to uncompleted contracts is included in the accompanying consolidated balance sheets as follows at December 31: 2015 2014 Costs and estimated earnings in excess of billings on uncompleted contracts $34,840 $ 87,906 Billings in excess of costs and estimated earnings on uncompleted contracts 4L6 816) 42 481) Net overbillings $21 $ 10 NOTE D-INVESTMENT IN JOINT VENTURES The Company invests in various joint ventures over which the Company does not have operating control. Each of these investments is accounted for under the equity method whereby the investment account is adjusted periodically to recognize the Company's share of net income or loss. The Company's investment in joint ventures consists of the following at December 31: Interest 2015 2014 Michels/JayDee/Coluccio (MJC)Joint Venture 40.0% $2,961 $ 6,152 JCM North-Link Joint Venture 30.0% 2,255 4,855 Mill Basin Joint Venture 50.0% 2,822 - Others 926 1,107 MW $1 Summarized accrual basis unaudited financial information for the significant joint ventures identified above is as follows as of and for the years ended December 31: 2015 2014 JCM Mill Basin JCM Mill Basin MJc Joint North-Link Joint MJC Joint North-Link Joint Venture Joint Venture Venture Venture Joint Venture Venture Total assets $7,596 $ 54,890 $15,989 $17,007 $ 57,309 $ - Total liabilities 193 47,372 9,981 1,627 41,125 - Equity 7,403 7,518 6,008 15,380 16,184 - The Company has interests in other joint ventures that the Company has determined to be immaterial. 14 M10,Inc. and Subsidiaries NOTES TO CONSOLIDATED BALANCE SHEETS- CONTINUED December 31,2015 and 2014 (In thousands) NOTE E-PROPERTY AND EQUIPMENT Property and equipment,at cost,consists of the following at December 31: 2015 2014 Land and improvements $ 10,649 $ 10,683 Depletable land- stone quarries 32,226 31,925 Buildings and improvements 42,689 39,216 Machinery and equipment 646,321 597,804 Transportation equipment 291,018 266,688 Office furniture and equipment 10.639 9,192 1,033,542 955,508 Less accumulated depreciation and depletion 606,704 541.292 426,838 414,216 Construction in progress 11;240 7;068 NOTE F-NOTES PAYABLE TO BANK The Company has a line-of-credit agreement allowing borrowings up to $200,000 as of December 31, 2015, less outstanding letters of credit of$52,305 at December 31,2015. The borrowing capacity on the line of credit was$220,000 for the period from January 1,2015 through January 31,2015,and decreased to$200,000 for the period beginning February 1,2015. At December 31,2015 and 2014,there were$-0-and$38,250 borrowings outstanding, respectively. The line-of-credit agreement is secured by substantially all of the assets of the Company. The agreement bears interest at the 30-day LIBOR rate plus 2.0% (effective rate of 2.43% at December 31, 2015). The agreement expires and is scheduled for renewal on May 31, 2016. The agreement contains restrictive covenants with which the Company was in compliance with or obtained the appropriate waiver from the financial institutions at December 31,2015 and 2014. Michels Canada has a line-of-credit agreement allowing borrowings up to $36,000 as of December 31, 2015. At December 31, 2015 and 2014, there were no borrowings outstanding. The line-of-credit agreement is secured by substantially all of the assets of the Company. The line-of-credit agreement bears interest at the Canadian prime rate plus 0.25% (effective rate of 2.95%at December 31,2015). The agreement expires and is scheduled for renewal on May 31,2016. 15 M10,Inc. and Subsidiaries NOTES TO CONSOLIDATED BALANCE SHEETS- CONTINUED December 31,2015 and 2014 (In thousands) NOTE G-LONG-TERM OBLIGATIONS Long-term obligations consist of the following at December 31: 2015 2014 Related-party and shareholder notes, final payment due in January 2019, interest at 5.00%,unsecured $ 16,304 $ 16,429 Bank installment note,final payment due in September 2017,interest at 1.78%, secured by certain equipment 6,753 10,518 Bank installment note, final payment due in October 2017,interest at 1.70%,secured by certain equipment 4,236 6,492 Bank installment note,final payment due in July 2016,interest at 2.68%, secured by certain equipment 1,855 4,969 Installment note on land purchase,interest rate at 7.00%,due in February 2018, secured by real estate 2,483 2,526 Bank installment note, final payment due in May 2020,interest at 1.96%, secured by certain equipment 32,336 - Bank installment note,final payment due in December 2020,interest at 2.47%,secured by certain equipment 15,840 - Bank installment note,final payment due in December 2020,interest at 2.57%, secured by certain equipment 16,440 - Equipment note,final payment due in May 2018,interest at 0% 1,176 - Equipment note,final payment due in August 2019,interest at 0% 1,020 - Bank installment note,final payment due in February 2018,interest at 1.98%,secured by certain equipment 9,170 13,272 Bank installment note,final payment due in June 2018,interest at 1.76% secured by certain equipment 12,933 17,949 Bank installment note,final payment due in August 2018,interest at 2.19%, secured by certain equipment 7,717 10,497 Bank installment note, final payment due in April 2016,interest at 30-day LIBOR plus 2.75% (rate of 5%at December 31,2015) but not less than 5%, secured by certain equipment 220 749 Bank installment notes,final payment due in January 2016,interest at 30- day LIBOR plus 2.75% (rate of 5% at December 31,2015) but not less than 5%, secured by certain equipment 264 1,850 Bank installment note, final payment due in June 2015,interest at 3.32% secured by certain equipment - 2,691 Bank installment note,final payment due in December 2015,interest at 3.02%, secured by certain equipment - 1,698 16 M10,Inc. and Subsidiaries NOTES TO CONSOLIDATED BALANCE SHEETS-CONTINUED December 31,2015 and 2014 (In thousands) 2015 2014 Bank installment note, final payment due in April 2019,interest at 2.00%, secured by certain equipment $ 23,482 $ 30,296 Bank installment note,final payment due in July 2016,interest at 2.93%, secured by substantially all assets of PTK 1,000 - Bank installment note,final payment due in December 2020,interest at 2.93%, secured by substantially all assets of PTK 2,000 - 155,229 119,936 Less current maturities 42,873 34.524 $112 356 $ 12 I', Aggregate maturities of long-term obligations for the five years following December 31, 2015, and thereafter are as follows: Years ending December 31, 2016 $ 42,873 2017 41,648 2018 27,472 2019 17,113 2020 10,152 Thereafter 15,971 $15 NOTE H-EMPLOYEE BENEFIT PLANS Employee 401(lr) Plans All employees with more than 90 days of service who are not covered by a collective bargaining agreement (CBA) are eligible to participate in a defined contribution profit-sharing 401(k) plan. Currently,the Company is making a discretionary contribution for each eligible participant equal to 40% of the participant's salary deferral, up to 5% of the employee's compensation during the year, plus an additional contribution of$1.00 per each hour of service that is completed by the participant during the plan year. Multi-employer Defined Contribution Plans The Company contributes to a number of multi-employer defined contribution plans under the terms of CBAs that cover its union-represented employees. 17 M10,Inc. and Subsidiaries NOTES TO CONSOLIDATED BALANCE SHEETS-CONTINUED December 31,2015 and 2014 (In thousands) Multi-employer Pension Plans The Company contributes to a number of multi-employer pension plans under the terms of CBAs that cover its union-represented employees. The risks of participating in these multi-employer plans are different from single-employer plans in the following aspects: (a) Assets contributed to the multi-employer plan by one employer may be used to provide benefits to employees of other participant employers. (b) If a participating employer stops contributing to the plan, the unfunded obligations of the plan will be borne by the remaining participating employers. (c) If the Company chooses to stop participating in some of its multi-employer plans, the Company may be required to pay those plans an amount based on the underfunded status of the plan, referred to as a withdrawal liability. The Company's participation in these plans for the years ended December 31, 2015 and 2014,is outlined in the following table. The"EIN/pension plan number"column provides the Employee Identification Number(EIN) and the three-digit plan number. Unless otherwise noted, the most recent Pension Protection Act (PPA) zone status listed in 2015 and 2014 is from the plan's most recent year-end. The zone status is based on information that the Company received from the plan and is certified by the plan's actuary. Among other factors,plans in the red zone are generally less than 65% funded,plans in the yellow zone are less than 80%funded,and plans in the green zone are at least 80%funded. The"FIP/RP status pending/implemented"column indicates plans for which a financial improvement plan(FIP) or a rehabilitation plan(RP)is either pending or has been implemented. The nature and diversity of the Company's business may result in volatility of the amount of contributions to a particular plan for any given period. In any given market, significant projects could be in process, which could result in an increase in the direct labor force and a corresponding increase in contributions to a particular plan dictated by the applicable CBA. When a particular project finishes,the level of direct labor would also decrease,as would the level of contributions to the particular plan. Additionally,the level of contributions to a particular plan could also be affected by the terms of the CBA, which could require at a particular time an increase in the contribution rate and/or surcharges. 18 M10,Inc. and Subsidiaries NOTES TO CONSOLIDATED BALANCE SHEETS-CONTINUED December 31,2015 and 2014 (In thousands) The following table lists all domestic multi-employer pension plans to which contributions exceeded$2,000 in the green zone,$1,000 in the yellow zone and$500 in the red zone in 2015. FIP/RP status Expiration FIN/pension PPA zone status pending/ Contributions to plan Surcharge date Pension Fund plan number 2015 2014 implemented 2015 2014 imposed of CBA Central Pension Fund of the IUOE& Participating Employers 36-6052390/001 Green Green No S 3,586 S 7,717 No June 2017 2,856 2,602 No May 2016 3,048 2320 Various 9,490 12,639 Pipeline Industry Pension Fund 73-6146433/001 Green Green No 5,561 7,954 No June 2017 20 Various 5,581 7,954 Local 147 Construction Workers Retirement Plan 13-6528181/001 Green Green No 2,862 3,210 No June 2018 Minnesota Laborers November Pension Fund 41-6159599/001 Green Green No 2,018 2,003 No 2017 Midwest Operating Engineers Pension Trust Fund 36-6140097/001 Yellow Yellow Implemented 853 845 No June 2017 562 788 1,415 1,633 National Electrical Benefit Fund 53-0181657/001 Green Green No 2,817 2,474 No Various Wisconsin Laborers Pension Fund 39-6198530/001 Yellow Yellow Implemented 1,000 * No Various Pension Fund of Operating Engineers Loca1513 43-0827344/001 Yellow Yellow Implemented * 1,073 No Various Central Laborers Pension Fund 37-6052379/001 Red Red Pending * 605 No Various Other multi-employer pension plans 13,118 18,669 Total contributions Slug S5(I21,0 *Indicates the contributions were less than the respective threshold for disclosure. 19 M10,Inc. and Subsidiaries NOTES TO CONSOLIDATED BALANCE SHEETS-CONTINUED December 31,2015 and 2014 (In thousands) The Company was listed in the plans'Form 5500s as providing more than 5%of the total contributions for the following plans and plan years: Year contributions to plan exceeded more than 5%of total contributions Pension fund (as of December 31 of the plan's year-end) Pipeline Industry Pension Fund 2014 and 2013 Teamsters National Pipeline Pension Fund 2014 and 2013 At the date the financial statements were issued,Form 5500s were not available for the above plans for the year ended in 2015. The Multiemployer Pension Plan Amendments Act of 1980 (the Act) significantly increased the pension responsibilities of participating employers. Under the provisions of the Act, if the plan terminates or the Company withdraws,the Company could be subject to a substantial"withdrawal liability." During 2011, the Company elected to withdraw from one multi-employer pension plan,which the Company previously contributed to. In 2013, the Company was assessed a withdrawal liability for $12,632, which is payable over eight years. The liability was settled for a total of $8,742 during 2015 and paid in full as of December 31,2015. At December 31,2014,the balance of the withdrawal liability was approximately$10,700 and is recorded at $8,900 in other long-term liabilities and $1,800 in accrued liabilities on the consolidated balance sheets. NOTE I- SELF-INSURANCE The Company operates a self-funded employee health and welfare benefit plan under which the Company is responsible for the first$100 of covered medical expenses per employee per year. Claims for any individual in excess of this amount are covered by an excess loss insurance policy. The Company's liability is further limited by an aggregate excess loss insurance policy that commences coverage when aggregate claims paid exceed a maximum level of$17,577 per year. NOTE J-INCOME TAXES With the exception of MCC,Michels Canada and certain U.S.states,the income taxes on net income are payable personally by the shareholders pursuant to an election under Subchapter S of the Internal Revenue Code not to have the Company taxed as a corporation. The net income of MCC and Michels Canada are subject to income tax at the Company level. In addition, certain U.S. states tax income at the Company level. Included within other long-term liabilities on the accompanying consolidated balance sheets is $11,941 and$7,306 of deferred tax liability for Michels Canada as of December 31, 2015 and 2014,respectively. The deferred tax liability consists of timing differences related 20 M10,Inc. and Subsidiaries NOTES TO CONSOLIDATED BALANCE SHEETS-CONTINUED December 31,2015 and 2014 (In thousands) to accounts receivable,long-term contract accounting(underbillings),differences in book and tax depreciation, and various other items. It is the intent of the Company to fund distributions equivalent to the income taxes that will be payable by the shareholders on S corporation earnings. The Company has accrued shareholder dividends of$6,300 and$1,900 as of December 31,2015 and 2014,respectively, for this purpose. The Company has elected S corporation status with the Internal Revenue Service as indicated above. As a result of the election,the Company is not subject to federal income taxes,nor is the Company subject to state income taxes in a majority of the states. Accordingly, any tax uncertainties related to taxable income reported by the Company's shareholders is not within the scope of FASB ASC 740,Income Taxes. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. The Company is no longer subject to federal, state and local, or foreign income tax examinations by tax authorities for the years before fiscal 2011. The Company has not recorded a liability for unrecognized tax benefits at December 31,2015 and 2014. There were no interest and penalties related to income tax that have been accrued or recognized as of and for the years ended December 31,2015 and 2014. NOTE K-ASSET RETIREMENT OBLIGATIONS The Company accounts for asset retirement obligations in accordance with generally accepted accounting principles,which require entities to record a liability for the estimated retirement and removal costs of assets used in their business. The liability should be recorded at its fair value,with a corresponding asset that should be depreciated over the remaining useful life of the long-lived asset to which the liability relates. Period expenses will also be recognized for changes in the original value of the liability as a result of the passage of time. Under various agreements with landowners and municipalities and as required by the state of Wisconsin, the Company is legally obligated to reclaim certain land that it mines. The recorded liability, included within other long-term liabilities on the accompanying consolidated balance sheets,was $1,667 and$1,350 at December 31,2015 and 2014,respectively. NOTE L-LEASE OBLIGATIONS The Company leases certain vehicles,equipment and property,which expire at various times in future periods. 21 M10,Inc. and Subsidiaries NOTES TO CONSOLIDATED BALANCE SHEETS- CONTINUED December 31,2015 and 2014 (In thousands) NOTE M-COMMITMENTS AND CONTINGENCIES The Company is involved in litigation arising in the normal course of business. No significant claims were settled or incurred for the years ended December 31,2015 and 2014. In December 2014,the Company entered into a purchase agreement for certain pieces of equipment. The first piece of equipment was put into service and paid in full during December 2015. The second piece of equipment is expected to deliver in October 2016. Payments on the second piece of equipment amounted to $2,500 at December 31,2015,with a remaining commitment of$19,429 expected to be paid in full during 2016. NOTE N- CONCENTRATIONS OF CREDIT RISK The Company had one customer that accounted for 17%and 11%of the Company's total consolidated contract receivables at December 31,2015 and 2014,respectively. NOTE O-VARIABLE INTEREST ENTITY Michels leases certain equipment used in its operations from a variable interest entity whose sole purpose and activity is to own this equipment and lease to the Company. The consolidated financial statements of Michels include the following amounts as a result of the consolidation of the variable interest entity as of December 31: 2015 2014 Current assets $4,476 $1,692 Property and equipment-net 9,728 8,438 Current liabilities 2,190 2,762 Long-term obligations and other liabilities 2,690 524 Shareholders'equity 9,324 6,844 NOTE P-RELATED-PARTY TRANSACTIONS The Company leases certain property and office space from a related party through common ownership. The majority of the related party's activities are derived from the lease arrangements with the Company. The Company does not guarantee the debt of the related party. 22 M10,Inc. and Subsidiaries NOTES TO CONSOLIDATED BALANCE SHEETS- CONTINUED December 31,2015 and 2014 (In thousands) NOTE Q-SUBSEQUENT EVENTS The Company evaluated its December 31,2015,financial statements for subsequent events through March 24, 2016,the date the financial statements were available to be issued. The Company is not aware of any subsequent events that would require recognition or disclosure in the financial statements. 23 DO NOT STAPLE State of Wisconsin +""►nc - DEPARTMENT OF FINANCIAL INSTITUTIONS r Sec. 180.1006 Division of Corporate&Consumer Services Wis.Stats, ARTICLES OF AMENDMENT—STOCK, FOR-PROFIT CORPORATION A. The present corporate name(prior to any change effected by this amendment) is; Michels Holdings, Inc. (Enter Corporate Name) Text of Amendment (Refer to the existing articles of incorporation and the instructions on the reverse of this form. Determine those items robe changed and set forth the number identifying the paragraph in the articles of incorporation being changed and how the amended paragraph is to read.) RESOLVED, THAT the articles of incorporation be amended as follows; Article I is hereby amended to read as follows•: The name of the corporation shall be M10, Inc , STATE OF WIS ONSIN FILED FEB - 2 2015 DEPARTMEN10 IONS FILING FEE - $40.00 See instructions, suggestions and procedures on following pages. _ DFI/CORP/4(R02/l4) Use of this form is voluntary, I of 3 10364U , January 29, 2015 B. Amendment(s) adopted on (Indicate the method of adoption by checking(X) the appropriate choice below,) i Din accordance with sec. 180,1002, Wis, Stats, (By the Board of Directors) OR oIn accordance with sec. 180,1003, Wis, Slats. (By the Board of Directors and Shareholders) OR Dln accordance with sec. 180.1005, Wis. Stats.(By Incorporators or Board of Directors, before issuance of shares) PC. Executed on January, 29 2075 (Date) (Signa(ure) Title:❑President OSecretary ,TAT(OF W1ScoN5IN fILLfl or other officer title Ass SQrrPt-ary _�� p. Kaiser `�' — ; (Printed name) FEB - 2 2015 This document was drafted by Scott A. Komp — arne the individual who drafted the document)) I r�r,Fi 1�tFt�rr��r f INANI'1AL INENIV11UNS INSTRUCTIONS (Ref. sec. 180.1006 Wis. Slats. for document content) Submit one original to Dept. of Financial Institutions, P O Box 7846, Madison WI, 53707-7846, together with a FILING FEE of$40.00 payable to the department. Filing fee is non-refundable. (If sent by Express or Priority U.S, mail, address to 201 W, Washington Ave., Suite 300,Madison W1, 53703),The original must include an original manual signature, per sec, 180,0120(3)(c), Wis, Stats. NOTICE: This form may be used to accomplish a filing required or permitted by statute to be made with the department. Information requested may be used for secondary purposes, If you have any questions,please contact the Division of Corporate&Consumer Services at 608-261-7577, Hearing-impaired may call 711 for TTY. DFl/CORP/41(R02/)4) 2 of 3 ARTICLES OF AMENDMENT— Stock, For-Profit Corporation f Scott A. Komp i Mawicke & Goisman, S .C. 1509 N. Prospect Avenue Milwaukee, WI 53202 L � ♦ Your return address and phone number during the day: ( (41�) 224-0600 INSTRUCTIONS (Continued) A. State the name of the corporation (before any change effected by this amendment)and the text of the , amendment(s). The text should recite the resolution adopted (e.g., "Resolved, that Article I of the articles of incorporation be amended to read: . . . . . . (enter the amended article). If an amendment provides for an exchange, reclassification or cancellation of issued shares, state the provisions for , implementing the amendment if not contained in the amendment itself. B. Enter the date of adoption of the amendment(s). If there is more than one amendment, identify the date of adoption of each. Mark (X)one of the three choices to indicate the method of adoption of the amendment(s). By Board of Directors—Refer to sec. 180.1002 for specific information on the character of amendments that may be adopted by the Board of Directors without shareholder action, By Board of Directors and Shareholders—Amendments proposed by the Board of Directors and ; adopted by shareholder approval. Voting requirements differ with circumstances and provisions in the articles of incorporation. See sec. 180.1003, Wis. Stats., fbr specific information. By Incorporators or Board of Directors— Before issuance of'shares—See sec. 180.1005, Wis. Stats., for conditions attached to the adoption of an amendment approved by a vote or consent of less than 2/3rds of the shares subscribed for. C. Enter the date of execution and the name and title of the person signing the document, The document must be signed by one of the following: An officer of the corporation (or incorporator if directors have not been elected), or a court-appointed receiver, trustee or fiduciary. A director is not empowered to sign. If the document is executed in Wisconsin, sec. 182.01(3) provides that it shall not be tiled unless the name of the person (individual) who drafted it is printed, typewritten or stamped thereon in a legible manner. If the document is not executed in Wisconsin, enter that remark, FILING FEE - $40,00, DFI/CORP/41(R02/14) 3 of Michels Corporation - GrantThornton Confidential Information Consolidated Balance Sheets and Report of Independent Certified Public Accountants Michels Holdings, Inc. and Subsidiaries December 31 , 2014 and 2013 Contents Page Report of Independent Certified Public Accountants 3 Consolidated Balance Sheets 5 Notes to Consolidated Balance Sheets 7 GrantThornton Grant Thornton LLP REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS P501 Box 109�7rise Ave,Suite soo Appleton,WI 54912-1097 Board of Directors T 920.968.6700 F 920.968.6719 Michels Holdings,Inc. and Subsidiaries www.GrantThornton.com We have audited the accompanying consolidated balance sheets of Michels Holdings,Inc. and Subsidiaries as of December 31,2014 and 2013,and the related notes to the financial statements. Management's responsibility for the financial statements Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America;this includes the design,implementation,and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement,whether due to fraud or error. Auditor's responsibility Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditor's judgment,including the assessment of the risks of material misstatement of the consolidated financial statements,whether due to fraud or error. In making those risk assessments,the auditor considers internal control relevant to the entity's preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances,but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly,we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management,as well as evaluating the overall presentation of the consolidated financial statements. Grant Thornton LLP U.S.member firm of Grant Thornton International Ltd State of Connecticut Department of Administrative Services (DAS) Contractor Prequalification Update (Bid) Statement (Statement to be included with the bid) Connecticut General Statute§4a-100 and Connecticut General Statute§4b-91 Each bid submitted for a contract shall include a copy of a prequalification certificate issued by the Commissioner of Administrative Services.The bid shall also be accompanied by an update bid statement in such form as the Commissioner of Administrative Services prescribes.The form for such update bid statement shall provide space for information regarding all projects completed by the bidder since the date the bidder's prequalification certificate was issued or renewed,all projects the bidder currently has under contract, including the percentage of work on such projects not completed,the names and qualifications of the personnel who will have supervisory responsibility for the performance of the contract,any significant changes in the bidder's financial position or corporate structure since the date the certificate was issued or renewed,any change in the contractor's qualification status and such other relevant information as the Commissioner of Administrative Services prescribes.Any bid submitted without a copy of the prequalification certificate and an update bid statement shall be invalid. Any public agency that accepts a bid submitted without a copy of such prequalification certificate and an update bid statement,as required by this section,may become ineligible for the receipt of funds related to such bid. PROJECT THAT COMPANY IS BIDDING ON PROJECT NAME Chapel Road Sewer Improvements PROJECT NUMBER 2017-01 COMPANY INFORMATION LEGAL BUSINESS NAME Michels Corporation DBA TAXPAYERID 390970311 BUSINESS ADDRESS 817 Main Street BUSINESS CITY,STATE,ZIP Brownsville WI 53006 PREQUALIFICATION CONTACT Tammy Ditter (920)924-4300 ext.2489 PREQUALIFICATION INFORMATION EXPIRATION DATE 1/23/2018 SINGLE LIMIT $400,000,000.00 AGGREGATE WORK CAPACITY(AWC) $1,000,000,000.00 REMAINING AGGREGATE WORK CAPACITY" $999,179,632.00 *The Remaining Aggregate Work Capacity equals your company's AWC minus the Total$Amount of Work Remaining BONDED PROJECTS (BOTH PUBLIC AND PRIVATE) CURRENTLY UNDER CONTRACT Project Name Project Owner %Completed Total Contract Amount Work Remaining East Main Street Water Main City of Waterbury 32 $1,206,423.44 $820,367.94 Cleaning and Cement Lining Total Amount of Work Remaining $820,368.00 Rev 09_24_07 Pagel of 2 https://www.biznet.ct.gov/PQApplication/ReportsBidStatement.aspx?ID=12684 Printed 9/20/2017 9:51:58 AM y BONDED PROJECTS (BOTH PUBLIC AND PRIVATE)WHICH WERE AWARDED AND 100%COMPLETED SINCE THE DATE OF YOUR INITIAL PREQUALIFICATION OR YOUR LAST RENEWAL o Records Found For Projects Completed PERSONNEL WHO WILL HAVE SUPERVISORY RESPONSIBILITY FOR THE PERFORMANCE OF THE CONTRACT BEING BID ON Name Title Will Markey Senior Project Manager CHANGES IN YOUR COMPANY'S FINANCIAL CONDITION OR BUSINESS ORGANIZATION WHICH MIGHT AFFECT YOUR COMPANY'S ABILITY TO SUCCESSFULLY COMPLETE THIS CONTRACT HAVE THERE BEEN ANY CHANGES? NO IF YES, EXPLAIN I CERTIFY UNDER PENALTY OF LAW THAT ALL OF THE INFORMATION CONTAINED IN THIS UPDATE (BID)STATEMENT IS TRUE AND ACCURATE TO THE BEST OF MY KNOWLEDGE AS OF THE DATE BELOW. 14 Signature Date It is the responsibility of the Awarding Authority to determine if any of the information provided above will impact the contractor's performance on this project. The DAS' Contractor Prequalification Program can be reached at(860)713-5280 Rev 09_24_07 Page 2 of 2 https://www.biznet.ct.gov/PQApplication/Reports/BidStatement.aspx?ID=12684 Printed 9/20/2017 9:51:58 AM State of Connecticut Department of Administrative Services Construction Contractor Prequalification Program This certifies Michels Corporation 817 West Main Street, Brownsville, Wl 53006 As a Prequalification Construction Contractor January 24,2017 through January 23,2018 CONTACT INFORMATION Effective Date Aggregate Work Capacity(AWC) Single Limit(SL) Classifications Name: Tammy Ditter 1/24/2017 $1,000,000,000.00 $400,000,000.00 TUNNELING,SEWER AND WATER Phone: (920)924-4300 ext.2489 LINES,CONCRETE:PRECAST Fax: (920)583-3429 STRUCTURAL AND ARCHITECTURAL Email: tditter@michels.us Classification Name Description TUNNELING The construction of micro tunnels for the installation of underground pipelines with an inside diameter equal to or greater than 72 inches using pressurized face or rock excavation methods.Included in these methods is the use of deep rock tunnel boring machinery. SEWER AND WATER LINES The construction,rehabilitation and/or reconstruction of waterlines,sewer lines and ancillary works,including well drilling. This certificate prequalifies the named company to bid.It is not a statement of the Contractors capacity to perform a specific project.That responsibility lies with the awarding authority. Company Licenses/Registrations:It is the Contractors responsibility to update their license information by editing their electronic application.Licenses are confirmed by the Department of Administrative Services(DAS)at the time of initial application and at each renewal. Page 1 of 2 For information regarding the DAS Contractor Prequalification Program visit http://das.ct.gov/crl.mpx?page 10 or call(860)713-5280. Printed 4/27/2017 8:21:11 AM CONCRETE:PRECAST Design,factory manufacture and field install precast concrete structural and STRUCTURAL AND architectural components for total precast concrete building systems.The ARCHITECTURAL types of structures would include parking garages,multi-unit housing, stadiums,office buildings,commercial buildings,schools,nursing homes, bridges and other concrete precast products. This certificate prequalifies the named company to bid.It is not a statement of the Contractors capacity to perform a specific project.That responsibility lies with the awarding authority. Company Licenses/Registrations:It is the Contractors responsibility to update their license information by editing their electronic application.Licenses are confirmed by the Department of Administrative Services(DAS)at the time of initial application and at each renewal. Page 2 of 2 For information regarding the DAS Contractor Prequalifrcation Program visit http://das.ct.gov/al.mpx?page 10 or call(860)713-5280. Printed 4/27/2017 8:21:11 AM WRIGHT-PIERCE '�'�,.'� ADDENDUM COVER Engineering a Better Environment & RECEIPT CONFIRMATION 169 Main Street 700 Plaza Middlesex Middletown,CT 06457 Phone:860.343.8297 1 Fax:860.343.9504 www-wright-nierce.com ADDENDUM CONSISTS OF (INCLUDING THIS COVER SHEET) 39 PAGES ATTENTION: Plan holders DATE: 9/18/2017 SUBJECT: Addendum No. 1 Chapel Road Sewer Improvements Project FROM: Dennis A. Dievert Jr., PE Project Manager PROJECT 13831A dennis.dievert(7wri¢ht-aierce.com NO.: *REQUIRED* Confirmation of receipt of this addendum is required. Please complete & sign the form below. Return by fax or email to: Fax: 860.343.9504 1 Email: brenda.strohm@wright-pierce.com Thank you. NAME: SIGNATURE: lease print legibly) TITLE: COMPANY: oGrantThornton We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion,the consolidated financial statements referred to above present fairly,in all material respects,the financial position of Michels Holdings,Inc. and Subsidiaries as of December 31,2014 and 2013,accordance with accounting principles generally accepted in the United States of America. Emphasis of matter As discussed in note A8 to the consolidated financial statements,the Company prospectively adopted new accounting guidance effective January 1,2014 related to accounting for goodwill. Our opinion is not modified with respect to this matter. Appleton,Wisconsin March 27,2015 Grant Thornton LLP U.S,member firm of Grant Thornton International Ltd This page intentionally left blank MICHELS HOLDINGS,INC.AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS December 31, (in thousands,except share amounts) ASSETS 2014 2013 CURRENT ASSETS Cash and cash equivalents $ 33,865 $ 59,715 Marketable securities 1,102 4,607 Contract receivables,net of allowance for bad debts and contract adjustments of$1,901 and$1,445 at December 31,2014 and 2013,respectively 362,611 443,705 Costs and estimated earnings in excess of billings on uncompleted contracts 87,906 33,640 Inventories 24,549 23,444 Prepaid expenses and other 13,334 15,911 Total current assets 523,367 581,022 PROPERTY AND EQUIPMENT-net of accumulated depreciation and depletion of$541,292 and$491,261 at December 31,2014 and 2013,respectively 421,284 359,079 INVESTMENT IN JOINT VENTURES 12,114 6,854 OTHER ASSETS Intangible assets,net Goodwill 15,866 16,607 Other 11115 1,059 16,981 17,666 Other assets 14,178 9,358 31,159 27,024 $ 987,924 $ 973,979 The accompanying notes are an integral part of these statements. 5 LIABILITIES AND SHAREHOLDERS'EQUITY 2014 2013 CURRENT LIABILITIES Line of credit $ 38,250 $ - Current maturities of long-term obligations 34,524 29,844 Accounts payable 99,442 113,849 Billings in excess of costs and estimated earnings on uncompleted contracts 98,481 113,743 Accrued liabilities 55,877 52,469 Accrued dividend for shareholder income taxes 1,900 26,600 Total current liabilities 328,474 336,505 LONG-TERM OBLIGATIONS,less current maturities 85,412 89,593 OTHER LONG-TERM LIABILITIES 30,768 24,713 COMMITMENTS AND CONTINGENCIES (note N) SHAREHOLDERS'EQUITY Controlling interests Class A voting common stock,no par value,400 shares authorized, 180.305 and 205.55 shares issued and outstanding at December 31,2014 and 2013,respectively - - Class B nonvoting common stock,no par value,39,600 shares authorized,20,345.5 shares issued and outstanding 20 20 Retained earnings 540,217 518,421 540,237 518,441 Accumulated other comprehensive loss (3,811) (982) Total controlling interests 536,426 517,459 Noncontrolling interest Retained earnings 6,883 5,830 Accumulated other comprehensive loss (39) (121) Total noncontrolling interest 6,844 5,709 Total shareholders' equity 543,270 523,168 $ 987,924 $ 973,979 6 MICHELS HOLDINGS,INC.AND SUBSIDIARIES NOTES TO CONSOLIDATED BALANCE SHEETS December 31,2014 and 2013 (in thousands) NOTE A- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Michels Holdings,Inc. and Subsidiaries (Company) are primarily full service utility and civil construction contractors with additional expertise in specialized design, engineering and inspection applications. The majority of the Company's operations are within the United States. The Company's primary utility construction operations consist of mainline pipelines for natural gas and petroleum products;horizontal directional drilling for a variety of utility crossings;electrical transmission,distribution and substation construction;industrial and commercial wiring;telecommunications (outside plant) design,permit,right- of-way and construction;wind energy/wind farm construction;drilled and structured concrete foundations, structural foundations and earth retention construction;sewer,water and tunnel construction and pipe rehabilitation. In addition,the Company performs civil engineering,environmental design/management services and utility inspection services for the verification and documentation of the utility integrity. In Wisconsin,the Company is also a nonmetallic mine operator producing both cut stone and custom crushed aggregates. They are also a road construction and paving contractor and related aggregate products supplier in Wisconsin. On July 31,2014,the Company purchased certain assets of CWE,Inc. for approximately$1,315,paid on the date of acquisition. CWE,Inc.provides a full spectrum of surveying,architectural, environmental, and engineering services,ranging from municipal products and construction management to site development and property surveys. The following table summarizes the estimated fair value of the assets acquired on the date of acquisition. Equipment $ 181 Other assets 29 Other intangible assets 250 Goodwill 855 Total assets acquired $ 1,315 On May 7,2014,the Company purchased substantially all assets of Badger Highways,Inc. for$1,625. Badger Highways,Inc.was a producer of crushed construction materials and a recycler of blacktop and concrete. The following table summarizes the estimated fair value of the assets acquired on the date of acquisition: Property and equipment $ 779 Inventory 831 Other intangible assets 15 Total assets acquired $ 1,625 7 MICHELS HOLDINGS,INC.AND SUBSIDIARIES NOTES TO CONSOLIDATED BALANCE SHEETS December 31,2014 and 2013 (in thousands) NOTE A-SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES-Continued On February 4,2013,the Company purchased certain assets of Vulcan Construction Materials,LP, Vulcan Lands,Inc.,and Legacy Vulcan Corp. (Vulcan) for$5,150,paid on the date of acquisition. Vulcan is a producer of construction aggregates,primarily crushed stone, sand,and gravel. The following table summarizes the estimated fair values of the assets acquired on the date of acquisition: Property and equipment $ 2,290 Inventory 656 Other intangible assets 15 Goodwill 2,189 Total assets acquired $ 5,150 A summary of the Company's significant accounting policies consistently applied in the preparation of the accompanying consolidated financial statements follows. 1. Principles of Consolidation The consolidated balance sheets include the accounts of Michels Holdings,Inc. (Holdings) and its subsidiaries: Michels Corporation (Michels),Equix,Inc. (Equix) -formerly known as Petratech Group,Inc.,Michels Canada Co. (Michels Canada),Michels Corporation Company Ltd. (MCC) - which is based in Trinidad,Mi-Hanger,Inc. (Mi-Hangar),P&Q Holdings, Inc. (P&Q),and Mi- Property Investments Inc. (Mi-Property). Equix includes the accounts of Mi-Tech Services, Inc. and CWE, Inc. (CWE). PTK Holdings,Inc. (PTK,) leases equipment to Michels for use in operations. PTK has been consolidated with Michels as a variable interest entity. 2. Use of Estimates In preparing balance sheets in conformity with accounting principles generally accepted in the United States of America,management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. 3. Cash and Cash Equivalents The Company considers all highly liquid instruments purchased with original maturities of three months or less to be cash equivalents. The Company maintains its cash balances in several financial institutions,which at times,may exceed federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash and cash equivalents. 8 MICHELS HOLDINGS,INC.AND SUBSIDIARIES NOTES TO CONSOLIDATED BALANCE SHEETS December 31,2014 and 2013 (in thousands) NOTE A-SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES-Continued 4. Marketable Securities Marketable investment securities (included in current assets) and long-term securities (included in other assets) include debt and equity securities held for investment purposes. These securities are considered available-for-sale securities and,therefore,are carried at fair market value. Marketable investment securities and long-term securities consist of investments in common stocks, fined income securities,mutual funds, and other securities with a fair value of$8,874 and$10,630 at December 31,2014 and 2013,respectively. Purchases and sales of available for sale securities are recorded on the trade date,the date the securities are purchased or sold. The Company uses the specific identification method to determine the cost of marketable securities sold. Net unrealized holding gains on available-fox-sale securities of$699 and $728 were included in accumulated other comprehensive income as of December 31,2014 and 2013, respectively. Available for sale securities are exposed to various risks including,but not limited to,interest rate, market and credit risks. Due to the level of risks associated with certain investment securities,it is at least reasonably possible that changes in the value of investment securities will occur in the near term. 5. Contract Receivables The majority of the Company's contract receivables are due from natural gas,petroleum product and electric power providers,telecommunications companies and municipal sewer and water utilities throughout the United States,and state, county and municipal highway departments and local highway and construction contractors in Wisconsin. Credit is extended based on an evaluation of a customer's financial condition. Contract receivables are due within 30 days and are stated at amounts due from customers net of an allowance for bad debts and contract adjustments. Accounts outstanding longer than the contractual payment terms are considered past due. The Company determines its allowance by considering a number of factors,including the length of time contract receivables are past due,the Company's previous loss history,the customer's current ability to pay its obligation to the Company and the condition of the general economy and the industry as a whole. The Company writes-off contract receivables when they become uncollectible,and payments subsequently received on such receivables are credited to the allowance account. Interest is not accrued on past due receivables. 6. Inventories Inventories consist of crushed rock and aggregates,construction materials and supplies and are stated at the lower of cost,determined by the first-in,first-out method,or market. 9 MICHELS HOLDINGS,INC.AND SUBSIDIARIES NOTES TO CONSOLIDATED BALANCE SHEETS December 31,2014 and 2013 (in thousands) NOTE A- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES- Continued 7. Property and Equipment Property and equipment are stated at cost,less accumulated depreciation and depletion. Expenditures for additions and improvements are capitalized while replacements,maintenance and repairs which do not improve or extend the useful lives of the assets are expensed as incurred. Depreciation of property and equipment are provided for in amounts sufficient to relate the cost of depreciable assets to operations over their estimated service lives on a straight-line basis. A summary of estimated service lives follows: Land improvements 3 to 7 years Buildings and improvements 5 to 20 years Machinery and equipment 3 to 10 years Transportation equipment 3 to 7 years Office furniture and equipment 3 to 7 years Cost depletion on owned quarries and gravel pits is computed by the units of production method based upon estimated recoverable reserves. 8. Intangible Assets Intangible assets consist of the following as of December 31: 2014 2013 Goodwill,less accumulated amortization of$1,596 and$0 at December 31,2014 and 2013,respectively $ 15,866 $ 16,607 Non-compete agreements,less accumulated amortization of$272 and$198 at December 31,2014 and 2013,respectively 230 28 Patent,less accumulated amortization of$526 and$579 at December 31,2014 and 2013,respectively 885 1,031 $ 16,981 $ 17,666 The Company is amortizing the cost of the non-compete agreements using the straight-line method over the term of the agreements of 2 to 5 years. The Company is amortizing the cost of the patents using the straight-line method over their legal life of 15 years. 10 MICHELS HOLDINGS,INC.AND SUBSIDIARIES NOTES TO CONSOLIDATED BALANCE SHEETS December 31,2014 and 2013 (in thousands) NOTE A- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES-Continued 8. Intangible Assets- continued As of January 1,2014,the Company elected to adopt the provisions of the Financial Accounting Standards Board (FASB)Accounting Standards Update(ASU) 2014-02,Accounting for Goodwill—a consensus of the Private Company Council. This standard allows a private company to amortize goodwill on a straight-line basis over 10 years or less if a shorter useful life is more appropriate. It also requires the Company to make an accounting policy election to test goodwill for impairment at either the entity or the reporting unit level and test for impairment when a triggering event occurs that indicates the fair value of an entity may be below its carrying amount. No triggering events were identified in 2014. 9. Long-Lived Assets The Company reviews long-lived assets, such as property and equipment and other intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset. If such assets are considered to be impaired,the impairment recognized is measured by the amount by which the carrying amounts of the assets exceed their respective fair values. 10. Contract Revenues The Company recognizes revenues on long-term contracts using the percentage of completion method,based on the ratio of total cost incurred to total estimated cost(cost-to-cost method). Revenues from time and material contracts are recognized currently as the work is performed. Contract costs include all direct labor and material costs and those indirect costs related to contract performance, such as indirect labor, supplies,tools,insurance,repairs and depreciation. Changes in job performance,job conditions,estimated profitability and final contract settlements may result in revisions to both cost of construction and revenues and are recognized in the period in which the revisions are determined. At the time a loss on a contract becomes known,the entire amount of the estimated ultimate loss is recognized. 11 MICHELS HOLDINGS,INC.AND SUBSIDIARIES NOTES TO CONSOLIDATED BALANCE SHEETS December 31,2014 and 2013 (in thousands) NOTE A- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES- Continued 10. Contract Revenues-continued Costs and estimated earnings in excess of billings on uncompleted contracts represent revenues recognized in excess of amounts billed. Billings in excess of costs and estimated earnings on uncompleted contracts represent billings in excess of revenues recognized. 11. Translation of Foreign Currencies All balance sheet accounts of the foreign subsidiaries,Michels Canada and MCC,are translated into U.S. dollars at the year-end rate of exchange except certain capital accounts. 12. Interest Rate Swap Agreements The Company has entered into interest rate swap agreements to manage its exposure to movements in interest rates that qualifies as a cash flow hedge. The use of the interest rate swap agreements modifies the exposure of this risk with the intent to reduce the risk to the Company. The fair values of the Company's interest rate swap agreements are based on estimates using standard pricing models that take into account the present value of future cash flows as of the balance sheet date. The fair value of interest rate swaps is based on quotes from market makers of these instruments and represents the estimated amounts that the Company would expect to receive or pay to terminate the agreements. At December 31,2014,the notional amounts,fixed rates and maturity dates of the interest rate swaps are as follows: Notional amount Fixed rate Maturity date $967 2.47% January 2016 $883 2.47% January 2016 $749 2.54% April 2016 13. Other Comprehensive Income (Loss) Other comprehensive income (loss) represents the change in reserve for future benefits from transactions which are not included in the consolidated statements of income and reported as a separate component of shareholders'equity. For the years ended December 31,2014 and 2013,other comprehensive income (loss) consists of changes in unrealized gains and losses on available-for-sale investment securities, foreign currency translation adjustments and changes in the fair value of the Company's interest rate swap agreements. 12 MICHELS HOLDINGS,INC.AND SUBSIDIARIES NOTES TO CONSOLIDATED BALANCE SHEETS December 31,2014 and 2013 (in thousands) NOTE A-SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES- Continued 14. New Accounting Pronouncements In May 2014,the FASB issued new guidance that amends the accounting for revenue recognition. The amendments are intended to provide a more robust framework for addressing revenue issues,improve comparability of revenue recognition practices,and improve disclosure requirements. The new guidance is effective beginning with annual and interim periods in 2018. The Company is currently evaluating the impact on the results of operations,financial condition, and cash flows and has not determined the impact on its consolidated financial statements at this time. NOTE B-FAIR VALUE OF FINANCIAL INSTRUMENTS The Company measures the fair value of financial instruments in accordance with the fair value framework as established under generally accepted accounting principles. That framework provides a fair value hierarchy that provides the inputs to valuation techniques used to measure fair value. The three Levels of the fair value hierarchy are described as follows: Level 1 -Quoted market prices in active markets for identical assets or liabilities Level 2-Inputs other than Level 1 inputs that are either directly or indirectly observable Level 3 -Unobservable inputs developed using the Company's estimates and assumptions,which reflect those that market participants would use The asset's or liability's fair value measurement within the fair value hierarchy is based on the lowest Level of input that is significant to the fair value measurement. The valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. The Company evaluates its hierarchy disclosures annually and based on various factors,it is possible that an asset or liability may be classified differently from year to year. However,the Company expects that changes in classifications between different Levels will be rare. The following is a description of valuation methodologies used for assets and liabilities measured at fair value,as well as the general classification pursuant to the valuation hierarchy. Except as specifically identified below,all other current assets and liabilities have a carrying value that approximates fair market value due to the short-term nature of the accounts. Interest rates currently available for debt with similar terms and remaining maturities are used to estimate fair value of existing debt. 13 MICHELS HOLDINGS,INC.AND SUBSIDIARIES NOTES TO CONSOLIDATED BALANCE SHEETS December 31,2014 and 2013 (in thousands) NOTE B-FAIR VALUE OF FINANCIAL INSTRUMENTS- Continued Marketable securities(available for-sale securities When quoted market prices are available in an active market,securities are classified within Level 1 of the fair value hierarchy. If quoted market prices are not available or accessible,then fair values are estimated using pricing models,matrix pricing, or discounted cash flow models. The fair value of securities estimated using pricing models or matrix pricing are generally classified within Level 2 of the fair value hierarchy. When discounted cash flow models are used,there is limited activity or less transparency around inputs to the valuation and these securities are classified within Level 3 of the fair value hierarchy. Derivatives(interest rate swap agreements) The fair value of the Company's interest rate swap agreements are based on estimates using standard pricing models that take into account the present value of future cash flows as of the balance sheet date. The fair value of the interest rate swaps are based on quotes from the market makers of these instruments and represent the estimated amounts that the Company would expect to receive or pay to terminate the agreements. The following summarizes the valuation of financial instruments measured at fair value on a recurring basis in the consolidated balance sheets at December 31: 2014 Level Level Level Assets Available-for-sale securities (note A4) $ 8,874 $ 8,874 $ - $ - Liabilities Derivatives payable(other long-term obligations) 39 - 39 - 2013 Level Level Level Assets Available-for-sale securities (note A4) $ 10,630 $ 10,630 $ - $ - Liabilities Derivatives payable (other long-term obligations) 121 - 121 - 14 MICHELS HOLDINGS,INC.AND SUBSIDIARIES NOTES TO CONSOLIDATED BALANCE SHEETS December 31,2014 and 2013 (in thousands) NOTE C-CONTRACT RECEIVABLES AND UNCOMPLETED CONTRACTS Contract receivables consist of the following at December 31: 2014 2013 Contracts: Billed: Contracts completed and in progress $ 244,142 $ 321,077 Retainage 92,775 89,079 Unbilled receivables on contracts 25,128 30,880 Other 2,467 4,114 Total 364,512 445,150 Less allowance for bad debts and contract adjustments (1,901) (1,445) Net receivables $ 362,611 $ 443,705 Included within costs incurred on uncompleted contracts is $3,537 and$919 of accrued future losses on uncompleted contracts (included in accrued liabilities on accompanying consolidated balance sheets) as of December 31,2014 and 2013,respectively. Information with respect to uncompleted contracts is included in the consolidated balance sheet as follows at December 31: 2014 2013 Costs and estimated earnings in excess of billings on uncompleted contracts $ 87,906 $ 33,640 Billings in excess of costs and estimated earnings on uncompleted contracts (98,481) (113,743) Net over billings $ (10,575) $ (80,103) 15 MICHELS HOLDINGS,INC.AND SUBSIDIARIES NOTES TO CONSOLIDATED BALANCE SHEETS December 31,2014 and 2013 (in thousands) NOTE D -INVESTMENT IN JOINT VENTURES The Company invests in various joint ventures over which the Company does not have operating control. Each of these investments is accounted for under the equity method,whereby the investment account is adjusted periodically to recognize the Company's share of net income or loss. The Company's investment in joint ventures consists of the following at December 31: Interest 2014 2013 Michels/JayDee/Coluccio (MJC)Joint Venture 40.0% $ 6,152 $ 4,368 JCM North-Link Joint Venture 30.0% 4,855 1,206 Others 1,107 1,280 $ 12,114 $ 6,854 Summarized accrual basis unaudited financial information for the significant joint ventures identified above is as follows as of and for the years ended December 31: 2014 2013 JCM JCM MJC Joint North-Link MJC Joint North-Link Venture joint Venture Venture joint Venture Total assets $ 17,007 $ 57,309 $ 25,027 $ 31,045 Total liabilities 1,627 41,125 14,106 27,026 Equity 15,380 16,184 10,921 4,019 The Company has interests in other joint ventures which the Company has determined to be immaterial. 16 MICHELS HOLDINGS,INC.AND SUBSIDIARIES NOTES TO CONSOLIDATED BALANCE SHEETS December 31,2014 and 2013 (in thousands) NOTE E-PROPERTY AND EQUIPMENT Property and equipment,at cost,consists of the following at December 31: 2014 2013 Land and improvements $ 10,683 $ 11,450 Depletable land- stone quarries 31,925 30,104 Buildings and improvements 39,216 38,234 Machinery and equipment 597,804 536,270 Transportation equipment 266,688 226,051 Office furniture and equipment 9,192 8,231 Construction in progress 7,068 - 962,576 850,340 Less accumulated depreciation and depletion 541,292 491,261 $ 421,284 $ 359,079 NOTE F-NOTES PAYABLE TO BANK The Company has a line of credit agreement allowing borrowings up to$220,000 as of December 31, 2014,less outstanding letters of credit of approximately$25,733 at December 31,2014. The borrowing capacity on the line of credit was $200,000 for the period January 1,2014 through October 31,2014 and increased to $220,000 for the period November 11 2014 through January 31,2015,at which time the borrowing capacity will return to $200,000. At December 31,2014 and 2013, there were$38,250 and$0 borrowings outstanding,respectively. The line of credit agreement is secured by substantially all assets of the Company. The agreement bears interest at the 30 day LIBOR rate plus 2.0% (effective rate of 2.17% at December 31, 2014). The agreement expires and is scheduled for renewal on May 31,2016. The agreement contains restrictive covenants with which the Company was in compliance at December 31, 2014 and 2013. Michels Canada has a line of credit agreement allowing borrowings up to $15,000 as of December 31, 2014. At December 31,2014 and 2013,there were no borrowings outstanding. The line of credit agreement bears interest at the Canadian prime rate plus 0.25% (effective rate of 3.25% at December 31, 2014) and is due on demand and is scheduled for renewal on May 31,2016. 17 MICHELS HOLDINGS,INC.AND SUBSIDIARIES NOTES TO CONSOLIDATED BALANCE SHEETS December 31,2014 and 2013 (in thousands) NOTE G-LONG-TERM OBLIGATIONS Long-term obligations consist of the following at December 31: 2014 2013 Related party and shareholder notes, final payment due in January 2019,interest at 5.00%,unsecured $ 16,429 $ 16,554 Bank installment note, final payment due in September 2017, interest at 1.78%, secured by certain equipment 10,518 14,217 Bank installment note,final payment due in October 2017, interest at 1.70%, secured by certain equipment 6,492 8,710 Bank installment note,final payment due in July 2016, interest at 2.68%, secured by certain equipment 4,969 8,000 Installment note on land purchase,interest rate at 7.00%, due in February 2018,secured by real estate 2,526 2,569 Bank installment note,final payment due February 2018 interest at 1.98%, secured by certain equipment 13,272 17,295 Bank installment note,final payment due June 2018 interest at 1.76%, secured by certain equipment 17,949 22,878 Bank installment note,final payment due August 2018 interest at 2.19%, secured by certain equipment 10,497 13,217 Bank installment note,final payment due in April 2016,interest at 30 day LIBOR plus 2.75% (rate of 5%at December 31,2014) but not less than 5%,secured by certain equipment 749 1,277 Bank installment note,final payment due in January 2016,interest at 30 day LIBOR plus 2.75% (rate of 5%at December 31,2014) but not less than 5%,secured by certain equipment 883 1,640 Bank installment note,final payment due in January 2016,interest at 30 day LIBOR plus 2.75% (rate of 5%at December 31,2014) but not less than 5%,secured by certain equipment 967 1,795 Bank installment note,final payment due in June 2015,interest at 3.32%, secured by certain equipment 2,691 7,940 Bank installment note,final payment due in December 2015,interest at 3.02%,secured by certain equipment 1,698 3,345 Bank installment note, final payment due April 2019, interest at 2.00%, secured by certain equipment 30,296 - 119,936 119,437 Less current maturities 34,524 29,844 $ 85,412 $ 89,593 18 MICHELS HOLDINGS,INC.AND SUBSIDIARIES NOTES TO CONSOLIDATED BALANCE SHEETS December 31,2014 and 2013 (in thousands) NOTE G-LONG-TERM OBLIGATIONS -Continued Aggregate maturities of long-term obligations for the five years following December 31,2014 and thereafter are as follows for the years ending December 31: 2015 $ 34,525 2016 27,727 2017 26,880 2018 12,688 2019 2,312 Thereafter 15,804 $ 119,936 NOTE H-EMPLOYEE BENEFIT PLANS Employee 401(k) Plans All employees with more than one year of service who are not covered by a collective bargaining agreement are eligible to participate in a defined contribution profit sharing 401(k)plan. Currently,the Company is making a discretionary contribution for each participant equal to 40% of the participant's salary deferral,up to 5% of the employee's compensation during the year plus an additional contribution of$1.00 per each hour of service that is completed by the participant during the plan year. Multi-Employer Defined Contribution Plans The Company contributes to a number of multi-employer defined contribution plans under the terms of collective-bargaining agreements that cover its union-represented employees. 19 MICHELS HOLDINGS,INC.AND SUBSIDIARIES NOTES TO CONSOLIDATED BALANCE SHEETS December 31,2014 and 2013 (in thousands) NOTE H-EMPLOYEE BENEFIT PLANS- Continued Multi-Employer Pension Plans The Company contributes to a number of multi-employer pension plans under the terms of collective- bargaining agreements that cover its union-represented employees. The risks of participating in these multi-employer plans are different from single-employer plans in the following aspects: a) Assets contributed to the multi-employer plan by one employer may be used to provide benefits to employees of other participant employers. b) If a participating employer stops contributing to the plan,the unfunded obligations of the plan will be borne by the remaining participating employers. c) If the Company chooses to stop participating in some of its multi-employer plans,the Company may be required to pay those plans an amount based on the underfunded status of the plan,referred to as a withdrawal liability. The Company's participation in these plans for the years ended December 31,2014 and 2013 is outlined in the following table. The"EIN/Pension Plan Number"column provides the Employee Identification Number(EIN)and the three-digit plan number. Unless otherwise noted,the most recent Pension Protection Act(PPA)zone status listed in 2014 and 2013 is from the plan's most recent year-end. The zone status is based on information that the Company received from the plan and is certified by the plan's actuary. Among other factors,plans in the red zone are generally less than 65 percent funded,plans in the yellow zone are less than 80 percent funded,and plans in the green zone are at least 80 percent funded. The"FIP/RP Status Pending/Implemented"column indicates plans for which a financial improvement plan(FIP) or a rehabilitation plan(RP)is either pending or has been implemented. The nature and diversity of the Company's business may result in volatility of the amount of contributions to a particular plan for any given period. In any given market,significant projects could be in process,which could result in an increase in the direct labor force and a corresponding increase in contributions to a particular plan dictated by the applicable collective bargaining agreement(CBA). When a particular project finishes,the level of direct labor would also decrease,as would the level of contributions to the particular plan. Additionally,the level of contributions to a particular plan could also be affected by the terms of the CBA, which could require at a particular time,an increase in the contribution rate and/or surcharges. 20 MICHELS HOLDINGS,INC.AND SUBSIDIARIES NOTES TO CONSOLIDATED BALANCE SHEETS December 31,2014 and 2013 (in thousands) NOTE H-EMPLOYEE BENEFIT PLANS-Continued Multi-Employer Pension Plans-continued The following table lists all domestic multi-employer pension plans to which contributions exceeded$2,000 in green zone,$1,000 in yellow zone and$500 in red zone in 2014. FIP/RP Status FIN/Pension PPA Zone Status Pending/ Contributions to Plan Surcharge Expiration date Pension Fund Plan Number 2014 2013 Implemented 2014 2013 Imposed of CBA Central Pension Fund of the IUOE&Participating Employers 36-6052390/001 Green Green No S 7,955 S 13,973 No June 2017 2,629 748 No May 2016 2,542 4,490 Various 13,126 19,211 Pipeline Industry Pension Fund 73-6146433/001 Green Green No 7,354 17,134 No June 2017 600 286 Various 7,954 17,420 Local 147 Construction Workers Retirement Plan 13-6528181/001 Green Green No 3,075 - No June 2018 135 150 Various 3,210 150 Minnesota Laborers Pension Fund 41-6159599/001 Green Green No 2,026 1,450 No Various Midwest Operating Engineers Pension Trust Fund 36-6140097/001 Yellow Yellow Implemented 1,634 660 No Various National Electrical Benefit Fund 53-0181657/001 Green Green No 2,615 2,149 No Various Pension Fund of Operating Engineers Local 513 43-0827344/001 Yellow Yellow Implemented 1,073 560 No Various Central Laborers Pension Fund 37-6052379/001 Red Red Pending 605 615 No Various Other Multiemployer Pension Plans 17,301 23,841 Total Contributions S 49,544 S 66,056 The Company was listed in the plans'Form 5500 as providing more than 5 percent of the total contributions for the following plans and plan years: Year Contributions to Plan Exceeded i\lore Than 5 Percent Pension Fund of total Contributions(as of December 31 of the Plan's Year-end) Pipeline Industry Pension Fund 2013 and 2012 Teamsters National Pipeline Pension Fund 2013 and 2012 At the date the financial statements were issued,Forins 5500 were not available for the above plans for the year ending in 2014. The Multiemployer Pension Plan Amendments Act of 1980 (the Act) significantly increased the pension responsibilities of participating employers. Under the provisions of the Act,if the plan terminates or the Company withdraws,the Company could be subject to a substantial"withdrawal liability." 21 MICHELS HOLDINGS,INC.AND SUBSIDIARIES NOTES TO CONSOLIDATED BALANCE SHEETS December 31,2014 and 2013 (in thousands) NOTE H -EMPLOYEE BENEFIT PLANS-Continued Multi-Employer Pension Plans-continued During 2011,the Company elected to withdraw from one multi-employer pension plan,which the Company previously contributed to. In 2013,the Company was assessed a withdrawal liability for $12,632,which is payable over eight years. At December 31,2014 and 2013,the balance of the withdrawal liability was approximately$10,700 and$11,700,respectively. The withdrawal liability is recorded at$8,900 in other long-term liabilities and $1,800 in accrued liabilities at December 31,2014 on the consolidated balance sheets. NOTE I -SELF INSURANCE The Company operates a self-funded employee health and welfare benefit plan under which the Company is responsible for the first$100 of covered medical expenses per employee per year. Claims for any individual in excess of this amount are covered by an excess loss insurance policy. The Company's liability is further limited by an aggregate excess loss insurance policy which commences coverage when aggregate claims paid exceed a maximum level of$16,722 per year. NOTE J-INCOME TAXES With the exception of MCC,Michels Canada and certain U.S. states,the income taxes on net income are payable personally by the shareholders pursuant to an election under Subchapter S of the Internal Revenue Code not to have the Company taxed as a corporation. The net income of MCC and Michels Canada are subject to income tax at the Company level. In addition, certain U.S. states tax income at the Company level. Included within other long-term liabilities on the balance sheets is $7,306 and$1,047 of deferred tax liability for Michels Canada as of December 31,2014 and 2013,respectively. The deferred tax liability consists of timing differences related to accounts receivable,long-term contract accounting(underbillings), differences in book and tax depreciation,and various other items. It is the intent of the Company to fund distributions equivalent to the income taxes that will be payable by the shareholders on S Corporation earnings. The Company has accrued shareholder dividends of$1,900 and$26,600 as of December 31,2014 and 2013,respectively, for this purpose. 22 MICHELS HOLDINGS,INC.AND SUBSIDIARIES NOTES TO CONSOLIDATED BALANCE SHEETS December 31,2014 and 2013 (in thousands) NOTE J-INCOME TAXES-Continued The Company has elected S Corporation status with the Internal Revenue Service as indicated above. As a result of the election,the Company is not subject to federal income taxes,nor is the Company subject to state income taxes in a majority of the states. Accordingly,any tax uncertainties related to taxable income reported by the Company's shareholders is not within the scope of FASB ASC 740,Income Taxes. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. The Company is no longer subject to federal, state and local,or foreign income tax examinations by tax authorities for the years before fiscal 2010. The Company has not recorded a liability for unrecognized tax benefits at December 31,2014 and 2013. There were no interest and penalties related to income tax that have been accrued or recognized as of and for the years ended December 31,2014 and 2013. NOTE K-ASSET RETIREMENT OBLIGATIONS The Company accounts for asset retirement obligations in accordance with generally accepted accounting principles,which require entities to record a liability for the estimated retirement and removal costs of assets used in their business. The liability should be recorded at its fair value,with a corresponding asset that should be depreciated over the remaining useful life of the long-lived asset to which the liability relates. Period expenses will also be recognized for changes in the original value of the liability as a result of the passage of time. Under various agreements with landowners and municipalities and as required by the State of Wisconsin, the Company is legally obligated to reclaim certain land that it mines. The recorded liability,included within other long-term liabilities on the Company's consolidated balance sheets was $1,350 and$904 at December 31,2014 and 2013,respectively. NOTE L-STOCK PURCHASE AGREEMENTS All outstanding shares of the Company's common stock are subject to repurchase agreements. The Company is obligated to purchase shares at appraised value under certain circumstances. NOTE M-LEASE OBLIGATIONS The Company leases certain vehicles,equipment and property which expire at various times in future periods. NOTE N-COMMITMENTS AND CONTINGENCIES The Company is involved in litigation arising in the normal course of business. No significant claims were settled or incurred for the years ended December 31,2014 and 2013. 23 MICHELS HOLDINGS,INC.AND SUBSIDIARIES NOTES TO CONSOLIDATED BALANCE SHEETS December 31,2014 and 2013 (in thousands) NOTE O- CONCENTRATIONS OF CREDIT RISK The Company had one customer that accounted for 11%and 27%of the Company's total consolidated contract receivables at December 31,2014 and 2013,respectively. NOTE P-VARIABLE INTEREST ENTITY Michels leases certain equipment used in its operations from a variable interest entity(VIE),whose sole purpose and activity is to own this equipment. The consolidated financial statements of Michels include the following amounts as a result of the consolidation of the VIE as of December 31: 2014 2013 Current assets $ 1,692 $ 2,431 Property and equipment-net 8,438 9,371 Current liabilities 2,762 3,373 Long-term obligations and other liabilities 524 2,720 Shareholders'equity 6,844 5,709 NOTE Q-RELATED PARTY TRANSACTIONS The Company leases certain property and office space from a related party through common ownership. The majority of the related party's activities are derived from the lease arrangements with the Company. The Company does not guarantee the debt of the related party. NOTE R-SUBSEQUENT EVENTS The Company evaluated its December 31,2014 financial statements for subsequent events through March 27,2015,the date the financial statements were available to be issued. On January 29,2015,the Company amended the articles of incorporation to change the Company's name to M10,Inc. The Company is not aware of any other subsequent events which would require recognition or disclosure in the financial statements. 24 1CH�� Schedule A CORPORATION Backlog and Projects in Progress Michels has over 200 jobs in progress at any given time and has already secured various construction projects slated for completion in 2017 and 2018. Our current workload changes on a weekly basis, and while we can report generally on our customers and the work we have previously performed, all other ongoing construction may be contractually proprietary in nature and subject to confidentiality provisions of those contracts. However, our current workload and backlog do not in any way limit our ability to take on more work. Schedule C M EQUIPMENT LIST DESCRIPTION EQUIPMENT TYPE CATEGORY CLASS COUNT TRUCK DUMP/FLATBED SINGLE INTERNATIO 4000 TRK-DUMP A000 267 TRUCK DUMP/FLATBED TANDEM OSHKOSH F-2346 TRK-DUMP A200 64 TRUCK HAUL ARTICULATED CAT 740B TRK-DUMP A240 6 TRUCK DUMP QUAD INTERNATIONAL 7600 TRK-DUMP A400 45 TRUCK CONCRETE AGITOR ADVANCE MIXER TRK-CONCRETE A500 13 TRUCK WATER TANDEM 4000 GAL KENWORTH T800 TRK-WATER A600 52 TRUCK ROLLOFF INTERNATIONAL 7600 TRK-ROLLOFF A700 11 TRUCK SLEEVING OSHKOSH F2346 TRK-WIRE PULL A800 3 TRUCK RIGGING INTERNATIO 4900 TRK-WIRE PULL A900 2 TRUCK PICKUP SML FORD F150 SUPERCREW 4X4 TRK-PICKUP B100 731 TRUCK PICKUP MED FORD F250 CREWCAS TRK-PICKUP B200 1068 TRUCK PICKUP LRG FORD F450 TRK-PICKUP B300 4 TRUCK VAN FORD E350 VAN VAN B400 43 TRUCK SEMI TRI HEAVY HAUL KENWORTH T800 TRK-SEMI C110 54 TRUCK SEMI TANDEM FIELD KENWORTH T800 TRK-SEMI C400 180 TRUCK SEMI TANDEM OTR KENWORTH T880 TRK-SEMI C600 29 TRUCK SEMI TANDEM CRANE AM GENERAL M920 TRK-SEMI C800 16 TRAILER<5K LB SINGLE AXLE DOOLITTLE 7X10 UTILITY TRAILER TRAILER D101 229 TRAILER 5K-19K LB TANDEM AXLE VACTRON PMD500GT TRAILER D102 232 TRAILER DUMP EZ DUMP TRAILER TRAILER D103 11 TRAILER CAR DOLLY MASTERTOW 80THD TRAILER D104 22 TRAILER CONVERTER DOLLY MICHELS M TRAILER D105 j 8 SHACK DRILL/CONTROL MICHELS DRILL SHACK TRAILER D106 24 TRAILER ENCLOSED<16' WELLS CARGO CW1422 TRAILER D111 51 TRAILER ENCLOSED 16-24' WELLS CARGO EW1624 TRAILER D112 227 TRAILER ENCLOSED SPECIAL APP WELLS CARGO EW2024 TRAILER D113 30 TRAILER OFFICE DACCO OFFICE TRAILER 10X50 TRAILER D121 27 TRAILER REEL MICHELS MISC TRAILER D131 j 169 TRAILER REEL POWERED LARSON 7500 TRAILER D132 30 TRAILER TRACKED ROUGH TERRAIN MICHELS MISC TRAILER D141 13 TRAILER PIPE KIEFER IGT200 TRAILER D201 105 TRAILER POLE BUTLER BP2080 TRAILER D202 71 TRAILER STEP DECK OZZIE M TRAILER D211 144 TRAILER FLATBED TRANSCRAFT 45'FLATBED TRAILER D212 137 TRAILER FLATEBED/STEPDECK EXPANDABLE MANAC 14353A00 EXTENDABLE STEP DECK TRAILER D213 8 TRAILER TANKER CUSTOM PETROLEUM TRAILER TRAILER D221 42 TRAILER VAN UTILITY 50X102 VAN TRAILER D231 146 TRAILER 20K-32K LB TANDEM AXLE TRAILER M TRAILER D241 314 TRAILER VAN SPECIAL APPLICATION UTILITY 53X102 TRAILER D301 128 TRAILER CONCRETE/GROUT 54 YRD/HR PUTZMEISTER SSGH TRAILER D311 12 TRAILER CONCRETE/GROUT133 YRD/HR PUTZMEISTER 14000HP D TRAILER D312 2 TRAILER VAN GENERATOR UTILITY 40X102 TRAILER D321 14 TRAILER LOWBOY 2-AXLE LOAD KING 4023DFP TRAILER D402 22 TRAILER LOWBOY 3-AXLE LOADKING LOW BOY 55314 TRAILER D403 13 TRAILER LOWBOY 4-AXLE LOAD KING 5534 TRAILER D404 56 AXLE FLIP/TAG TRAILKING TKFAt TRAILER D409 42 TRAILER VAN REFRIGERATED GREAT DANE SEMI TRAILER TRAILER D411 11 TRUCK KNUCKLEBOOM BRIDGE STERLING SC8000 TRK-KNUCKBOOM E000 4 TRUCK KNUCKLEBOOM INTERNATIO 4900 TRK-KNUCKBOOM E100 15 TRUCK CHOPPER CABLE FORD F800 COMMUNICATION E110 3 TRUCK UTILITY INTERNATIO4700 TRK-UTILITY E120 68 TRUCK WATER SINGLE 2000 GAL INTERNATIO 4700 TRK-WATER E140 9 TRUCK GRAPPLE INTERNATIONAL 7600 TRK-MISC E150 30 TRUCK VAC LRG PETERBILT PB348 TRK-VAC E170 14 TRUCK BUS INTERNATIONAL AMTRAN BUS E180 30 TRUCK MUD ENCLOSED INTERNATIONAL 7600 DIRECTIONAL DRILL E190 58 MANLIFT SCISSORS WILDCAT SP21-30 LIFT-SCISSORS E210 16 TRUCK CRANE 23-35 T STERLING LT8513 CRANE-TRUCK E220 20 TRUCK CRANE 16-22 T PETERBILT W/MANITEX CRANE CRANE-TRUCK E230 2 TRUCK CRANE 0-15 T INTERNATIO 4700 CRANE-TRUCK E240 1 TRUCK CRANE 36-45 T PETERBILT 365 CRANE-TRUCK E250 39 TRUCK REFRIGERATED INTERNATIONAL 7500 TRK-CIPP E300 17 TRUCK VAC HYDRO EXCAVATOR 9-16 CUYD PETERBILT 567 TRK-VAC E310 16 TRUCK VAC HYDRO EXCAVATOR 9<CUYD PETERBILT 567 TRK-VAC E311 2 TRUCK BOILER INTERNATIO 7600 TRK-CIPP E320 7 TRUCK STEAMER KENWORTH T370-CL7 TRK-CIPP E330 10 TRUCK VAC SEWER PETERBILT TRK-CIPP E340 26 TRUCK CLEANER SEWER INTERNATIONAL 4300 MISC E350 8 TRAILER CLEANER SEWER JET AWAY SEWER CLEANER MISC E360 2 TRUCK TV/CUTTER FORD F650 TRK-CIPP E370 21 TRUCK TV MERCEDES BENZ 3500 TRK-CIPP E380 22 SKIDSTEER CASE TR320 MISC E400 107 CRANE RT 30-34 T TEREX RT230 CRANE-RT E510 1 CRANE RT 45 T TEREX RT555 ROUGH TERRAIN CRANE CRANE-RT E530 7 CRANE RT 65 T TEREX RT665 CRANE-RT E535 8 CRANE RT 75 T TEREX RT780 CRANE-RT E550 3 CRANE RT 90 T GROVE RT890E CRANE-RT E560 2 CRANE RT 130 T GROVE GMK5135 CRANE-RT E570 2 TIMBERPRO TIMBER PRO TF830F PIPELINE E580 24 YARD TOYOTA 8FGU30 LIFT-FORKLIFT E600 59 FORKLIFT TELESCOPIC 5K-9K LB CAT TL943C LIFT-FORKLIFT E700 33 FORKLIFT TELESCOPIC 10K-12K LB CAT TL1255C LIFT-FORKLIFT E710 26 MANLIFT TELESCOPIC 40-70 FT JEG 450AJ LIFT-MANLIFT E720 12 MANLIFT TELESCOPIC 70+FT JLG 860SJ LIFT-MANLIFT E730 5 TRUCK LUBE INTERNATIO 4700 TRK-LUBE E810 14 TRUCK FUEL 4000 GAL INTERNATIONAL 7600 TRK-FUEL E820 12 TRUCK FUEL<3000 GAL INTERNATIO 4700 TRK-FUEL E830 20 EXCAVATOR WHEELED CAT M318 EXCAVATION E900 6 TRUCK WELD FORD F550 REGCAB 4X4 PIPELINE F100 2 TRUCK UTILITY 1T FORD F550 REG CAB 4X4 TRK-UTILITY F200 252 TRUCK FLATBED 1T FORD F550 REG CAB 4X4 TRK-UTILITY F201 76 TRUCK UTILITY ENCLOSED FORD F550 REGCAB 4X4 TRK-UTILITY F300 16 TRUCK PLUMBER FORD E350 CUBE VAN TRK-MISC F400 59 TRUCK BUCKET<40 FT INSUL FORD F550 REGCAB 4X4 TRK-AERIAUBUCKET G100 8 TRUCK BUCKET 40-48 FT INSUL INTERNATIONAL 4200 TRK-AERIAUBUCKET G110 1 TRUCK BUCKET 49-60 FT INSUL INTERNATIONAL 4300 TRK-AERIAUBUCKET G120 106 TRUCK BUCKET 61-89 FT INSUL INTERNATIONAL 7400 TRK-AERIAUBUCKET G130 25 TRUCK BUCKET 90-105 FT INSUL INTERNAIONAL 7600 TRK-AREIAUBUCKET G140 36 TRUCK BUCKET<40 FT NON-INSUL INTERNATIONAL 4300 TRK-MISC G150 3 TRUCK BUCKET 125 FT BAREHANDED INTERNAIONAL 7600 TRK-AREIAUBUCKET G160 7 PULLER 4-DRUM<2K LB WAGNER SMITH T4D936 WIRE STRINGING G200 11 PULLER 4-DRUM 2K-4K LB 5/8X10K WAGNER SMI T4DP75 WIRE STRINGING G205 14 PULLER UNDERGROUND 4K-7K LB TSE UP70BD WIRE STRINGING G210 2 PULLER 1-DRUM 4K-6K LB WAGNER SMITH T-iDPT-180 WIRE STRINGING G215 17 PULLER V-GROOVE 10K LB WAGNER SMITH T-VBWPT-340-72 WIRE STRINGING G220 4 PULLER 4-DRUM 4K LB 5/8X15K WAGNER SMITH T4DP115 WIRE STRINGING G225 10 PULLER 3-DRUM HARDLINE 6K LB WAGNER SMITH T-3DP-200 WIRE STRINGING G240 7 PULLER 1-DRUM HARDLINE 10K LB WAGNER SMITH T-DP-300 DRUM PULLER WIRE STRINGING G245 3 PULLER 1-DRUM HARDLINE 15K LB PENGO SKCP150 WIRE STRINGING G250 1 PULLER 1-DRUM HARDLINE 20K LB WAGNER SMITH T-IDP-600 WIRE STRINGING G255 2 PULLER 1-DRUM HARDLINE 30K LB WAGNER SMITH T-iDP-1760 WIRE STRINGING G260 2 TRAILER PULLER HARDLINE CON DUX TESMEC RW23 WIRE STRINGING G265 5 STAND REEL POWERED CONDUX TESMEC URW24 WIRE STRINGING 0270 2 STAND REEL CONDUX RS20 WIRE STRINGING G275 46 TENSIONER BULLWHEEL<50" TSE T30/36 BWRC-3 BULL WHL TENSIONER WIRE STRINGING G300 14 TENSIONER BULLWHEEL 50-72" WAGNER TBWT552RC WIRE STRINGING 0305 19 TENSIONER BULLWHEEL 72"3-BNDL WAGNER SMITH SK-3BWT-10-72 WIRE STRINGING G310 2 TENSIONER BULLWHEEL 72"2-BNDL WAGNER SMITH TB 1-10-72 WIRE STRINGING G315 2 PULLER TENSIONER HYD 2-BNDL CONDUX TESMEC AFS610 WIRE STRINGING G320 3 TRUCK DERRICK 45-47FT INTERNATIONAL 4300 TRK-AERIAUDERRICK G400 96 DERRICK TRACKED BACKYARD EZ HAULER POLE SETTER TRK-AERIAUDERRICK G410 10 TRUCK DERRICK 60-70FT INTERNATIONAL 7400 TRK-AERIAUDERRICK G420 40 TRUCK DERRICK 80FT PETERBILT 365 TRK-AERIAUDERRICK G430 6 TRUCK DRILL VERTICAL 20-22FT INTERNATIONAL 7400 DRILL-VERT G700 6 PLOW VIB SML TORO PROSNEAK 360 TRENCHING H100 27 TRENCHER SML CASE 460 TRENCHING H200 23 TRENCHER MED CASE 560 TRENCHING H300 11 TRENCHER LRG VERMEER CC145 TRENCHING H400 9 TRENCHER 250HP WHEEUCHAIN TESMEC TRS 900 TRENCHING H500 3 TRENCHER 200HP WHEEUCHAIN VERMEER TC655 TRENCHING H600 6 TRENCHER WALK BEHIND DITCHWITCH 1230 TRENCHING H700 12 TRENCHER WHEEL BARBER GREENE BARBER GRE TA65 TRENCHING H970 1 TRENCHER>250HP WHEEL/CHAIN TESMEC TRS1375-105 TRENCHING H980 3 PLOW DRAIN INTERDRAIN 6050 DWHT TRENCHER TRENCHING H985 1 GRADER 100-225HP CAT 14M GRADER J200 14 GRADER>225HP CAT 16M GRADER J300 3 CONVEYOR<30 FT GLAWE CONVEYOR 20' CRUSHING K080 11 CONVEYOR 31-50 FT KOLBERG 36X50 CRUSHING K090 66 CONVEYOR 51-80 FT KOLBERG 36X70 CRUSHING K100 65 CONVEYOR 81-100 FT NOREAST 30X85 CRUSHING K110 12 CONVEYOR 101-400 FT KOLBERG 36X125 CRUSHING K120 26 TRAILER BIN SURGE MICHELS 2 BIN FEEDER CRUSHING K140 10 SHOULDER MACHINE FIVE STAR M CRUSHING K150 3 CONVEYOR>400 FT SUPERIOR 36X500 CRUSHING K160 3 TRAILER WASH PLANT KPI 1830PH CRUSHING K180 2 TRAILER CONE PLANT GREYHAWK HP3003620 CRUSHING K200 13 TRAILER DUAL SCREEN CEDAR RAPIDS 7X20 CRUSHING K400 20 TRAILER CRUSHER IMPACTOR CANICA/TEREX 2050 VS]CRUSHER CRUSHING K500 20 SCREEN DUAL 6X20TD GREYHAWK UFR CRUSHING K700 9 TRAILER BREAKER LIPPMAN 30X48 CRUSHING K800 14 ROLLER DRUM REMOTE CONTROLLED WACKER RTX-SC2 ROAD/HWY L110 13 ROLLER DRUM 48"-60" RAYGO SF-54A ROAD/HWY L330 5 ROLLER DRUM 84" CAT CS56B ROAD/HWY L440 13 ROLLER BALLAST WOBBLE WHEEL WOBBLE WHE M ROAD/HWY L990 4 COMPACTOR PLATE HYD NPK C4C MISC M800 54 EXCAVATOR 25K-40K LB KOMATSU PC138USLC EXCAVATION N100 49 CRANE TRACKED 60-80 T LINKBELT LS318 CRANE-CRAWLER N110 4 CRANE TRACKED 81-100 T LINKBELT LS218H CRANE-CRAWLER N130 5 CRANE TRACKED 130-180 T KOBELCO CK1600G CRANE-CRAWLER N135 2 EXCAVATOR 40K-55K LB KOMATSU PC228USLC-10 EXCAVATION N200 60 EXCAVATOR 55K-70K LB JOHN DEERE 290G EXCAVATION N210 27 EXCAVATOR 70K-85K LB CAT 336ELH EXCAVATION N300 126 EXCAVATOR 85K-110K LB KOMATSU PC490LC-11 EXCAVATION N400 106 EXCAVATOR>110K LB KOMATSU 650 EXCAVATION N500 3 EXCAVATOR<25K LB CAT 303.5E EXCAVATION N600 50 CRANE TRACKED 40-59 T AMERICAN 5299 CRANE-CRAWLER N900 3 FARM IMPLEMENT STATIC JOHN DEERE RIPPER TOOTH FARM TRACTOR-IMPLEMENT 0000 78 FARM IMPLEMENT POWERED STALK CHOPPER FARM TRACTOR-IMPLEMENT 0900 96 DOZER PLOW 300-399HP CAT D8T DOZER TRACK-DOZER P100 10 DOZER<95HP JOHN DEERE 450H TRACK-DOZER P101 25 LOADER<20K LB VOLVO L40B LOADER Pilo 5 DOZER 95-125HP JOHN DEERE 650K TRACK-DOZER P120 20 DOZER SAGGING 300-399HP JOHN DEERE 1050C TRACK DOZER WIRE P140 6 DOZER 126-200HP KOMATSU D65PX-24 TRACK-DOZER P150 32 DOZER WELD TACK 126-200HP JOHN DEERE 850J PIPELINE P160 8 DOZER PLOW<130HP CASE 475 TRACK-VIBRATORY P200 9 PLOW VIB 101-140HP QUAD TRACK DITCHWITCH RT120Q TRACK-VIBRATORY P205 8 LOADER 20K-34K LB CAT 930K LOADER P220 37 TRAILER BRUSH CHIPPER FINN B70 MISC P300 3 DOZER PLOW 131-200HP DELTA DT190C TRACK-VIBRATORY P302 10 LOADER 35K-52K LB KOMATSU WA380-7 WHEEL LOADER LOADER P330 35 DOZER PLOW 201-250HP CAT D7HXR TRACK-DOZER P400 6 LOADER 53K-78K LB CAT 980K LOADER P440 45 LOADER 126K-225K LB CAT 992C LOADER P450 1 LOADER 79K-125K LB CAT 982M LOADER P460 20 LOADER GRINDER IRON WOLF CAT 980G LOADER P470 2 DOZER 201-250HP CAT D6T TRACK-DOZER P500 89 TRACTOR TRACKED CHALLENGER CAT CH55 TRACK-DOZER P510 9 CARRIER TRACKED<15K IHI IC35 TRACK-DUMP P700 1 CARRIER TRACKED 15K-25K LB IHI IC45-2 TRACK-DUMP P710 7 DERRICK TRACKED 15K-25K LB IHI IC70-2 TRACK-AERIAUDERRICK P730 10 CARRIER TRACKED 26K-30K LB MOROOKA MST2200 TRACK-DUMP P740 19 DERRICK TRACKED>30K LB PRINOTH GO-TRACT 3000 TRACK-AERIAUDERRICK P750 8 BUCKET TRACKED 100FT PRINOTH GO-TRACT 3000 TRACK-AERIAL/BUCKET P760 3 CARRIER TRACKED PERSONNEL MARSH MASTER TRACK-MISC P770 1 DOZER 300-399HP CAT D8T TRACK-DOZER P900 65 PLOW RAIL&CARS MICHELS RAIL PLOW MISC P980 8 BACKHOE RUBBER TIRE 50-100HP JOHN DEERE 410K BACKHOE 0100 294 BACKHOE RUBBER TIRE>100HP NEW HOLLAN B110 BACKHOE Q200 6 BACKHOE RUBBER TIRE<50HP KUBOTA B26TLB BACKHOE Q300 14 BREAKER SML<28K BOBCAT 950 BRAKER BREAKER S100 92 BREAKER MED 28K-60K NPK GH7 BREAKER S200 26 BREAKER LRG 61 K-99K ALLIED G80 BREAKER S300 8 BREAKER XL>100K NPK GH15 BREAKER S400 19 DIRECT PIPE TBM-36 INCH HERRENKNECHT M1858 HAMMER S500 1 DIRECT PIPE TBM-42 INCH HERRENKNECHT M1858 HAMMER S501 2 DIRECT PIPE TBM-48 INCH HERRENKNECHT M1858 HAMMER S502 1 THRUSTER DIRECT PIPE 300-500 T HERRENKECHT HK750PT HAMMER S510 1 THRUSTER DIRECT PIPE 750 T HERRENKECHT HK750PT HAMMER S511 3 CONTROL CABIN-ELECTRIC HERRENKNECHT POWER PLANT HAMMER S520 2 POWER MODULE 36 INCH HERRENKNECHT POWER PLANT HAMMER S521 2 POWER PACK-DIESEL HERRENKNECHT POWER PLANT HAMMER S522 3 HAMMER ARROW ARROW HJ25OR HAMMER S600 1 HAMMER SHEETING ABI HVR-100 HAMMER S610 11 HAMMER PILE DELMAG D19-52 BREAKER S620 20 HAMMER PILE/EXTRACTOR SONNEBOGEN SR35 HAMMER S630 1 HAMMER CASING I.C.E.44-50 HAMMER S800 2 HAMMER SURE STRIKE SURESTRIKE 4000 HAMMER S990 2 TRACTOR UTILITY SML<50HP JOHN DEERE 4320 FARM TRACTOR T100 16 TRACTOR BROOM RIDE-ON LAY MOR 8HC FARM TRACTOR T200 20 TRACTOR UTILITY MED 50-100HP NEW HOLLAND WORKMASTER 55 FARM TRACTOR T300 26 TRACTOR UTILITY LRG>100HP JOHN DEERE 7230 FARM TRACTOR T400 21 SIDEBOOM 200K LB CAT 587T SIDEBOOM U100 39 TRACTOR SIDEBOOM RUBBER TIRE NEW HOLLAN 5610 SIDEBOOM U400 4 SIDEBOOM 40K LB CAT 561D SIDEBOOM U700 21 SIDEBOOM 90K LB JOHN DEERE 850K SIDEBOOM U800 73 SIDEBOOM 140K LB CAT D8K SIDEBOOM U900 58 PAVER MAINLINE GOMACO GP-2400 CONCRETE V100 3 PAVER RAMP GOMACO COMMANDER III CONCRETE V200 5 PAVER TRIMMER GOMACO 9500 CONCRETE V300 3 PAVER TEXTURE WIRTGEN TCM 1800 CONCRETE V400 5 PAVER CURB/GUTTER POWER CURBER 5700C CONCRETE V500 1 CONCRETE BATCH PLANT CEMCO 240 CONCRETE V600 7 CONCRETE BATCH PLANT SML CEMCO 220 CONCRETE V700 2 PROFILER JOHN DEERE PROFILER ROLINE LASER CONCRETE V800 1 PAVER WORK BRIDGE GOMACO 2000 SERIES CONCRETE V900 4 CONCRETE WATER SUPPLY PEARSON PH1220 CONCRETE V910 4 SAW CONCRETE RIDE ON HUSQVARNA SOFF-CUT 5000 CONCRETE V920 10 SCREED POWER HUSQVARNA SOFF-CUT 5000 CONCRETE V930 4 COMPRESSOR<80 CFM VANAIR VIPER 80 COMPRESSOR X100 153 COMPRESSOR 80-250 CFM DOOSAN P185WDZT4F COMPRESSOR X300 328 COMPRESSOR 251-800 CFM DOOSAN P425/HP375WOU COMPRESSOR X500 16 COMPRESSOR>800 CFM SULLAIR 1600CFM COMPRESSOR X600 19 BOAT ALUMINUM CRESTLINER CR1236 MISC Y002 3 PROFILER ASPHALT ZIPPER ASPHALT ZIPPER ROAD/HWY Y007 1 BARGE DECK 70X34FT MICHELS BARGE 8X30 MISC Y008 1 BARGE DECK 85X93FT SCOW BARGE MISC Y009 3 BARGE DECK 137X34FT SCOW BARGE MISC Y010 1 BARGE HARBOR BUILDER SCOW BARGE MISC Y011 1 BARGE DECK 180X54X12.5FT SCOW BARGE MISC Y012 1 BOAT UTILITY 25' UTILITY STEEL HULL MISC Y013 2 BOAT SURVEY CRESTLINER CR1236 MISC Y014 2 BARGE DECK 10X40FT MICHELS BARGE 8X30 MISC Y015 3 ATV WHEELED HONDA SXS500 ATV ATV Y100 129 UTV AMPHIBIOUS ARGO 750 ATV Y102 2 LIGHT PLANT INGERSOLL RAND LIGHTSOURCE MISC Y103 90 GENERATOR 400-1000KW CAT 455KW GENERATOR Y105 39 GENERATOR 51-125KW MULTIQUIP DCA70SSJU41 GENERATOR Y106 58 GENERATOR 126-400KW MULTIQUP DCA300SSCU2 GENERATOR Y107 34 GENERATOR 10-50KW WACKER G25 GENERATOR Y108 52 MAT WASHER MICHELS SWAMP MAT WASHER MISC Y118 1 BORING MACHINE CORE DRILL VERMEER CORE SAW MISC Y119 3 PUMP FILL HI PRESSURE FMC 0608 MISC Y121 7 TRAILER TRAFFIC CONTROL ALLMAND ECLIPSE ARROW BOARD MISC Y122 44 SAND BLASTER POT(NO COMPRESSOR) MARCO SANDBLASTER MISC Y124 2 PUMP SLURRY CHEMGROUT M MISC Y125 9 WELDER<250A LINCOLN RANGER 3 PHASE WELDER MISC Y126 3 WELDER>250A MILLER 350 PIPE PRO DC WELDING GENERATOR MISC Y127 90 PUMP DIESEL DRIVE GODWIN WATER PUMP Y130 67 INVERTER NORDITUBE INVERTER MISC Y131 2 SPUTTER STONE CEE JAY 60X24 MISC Y132 8 SAW STONE JAGUAR DIAMOND SAW MISC Y133 4 DRILL ROCK BLASTING KD511 MISC Y134 3 INVERTER SMALL SHOOTER MISC Y135 1 DRILL ROCK BLASTING 1 1/2 INCH TAMROCK MISC Y136 1 DRILL ROCK BLASTING 2 1/2 INCH COMMANDO MISC Y137 2 DRILL ROCK BLASTING 4 INCH ATLAS COPCO MISC Y138 1 BLOWER FIBER DETROIT 80837300 COMMUNICATION Y201 2 FUSION MACHINE 24" MCELROY COMMUNICATION Y203 2 FUSION MACHINE 8" MCELROY COMMUNICATION Y204 11 FUSION MACHINE 48" MCELROY COMMUNICATION Y205 6 PUMP DRI PRIME GODWIN WATER PUMP Y304 4 PUMP WELL POINT 8" GODWIN WATER PUMP Y306 11 BLOWER STRAW FINN B70 MISC Y409 24 SEEDER HYDRO FINN T120 MISC Y410 2 PIPE ROLLER CRADLE DARBY PIPELINE Y504 40 PIPE HANDLER VACUUM VACUWORX RC10 PIPELINE Y505 21 BUCKET PADDING OUTLAW PADDING BUCKET PIPELINE Y506 50 BENDER PIPE 6-24" CRC-EVANS PBM 6-20 PIPELINE Y507 1 BENDER PIPE>24" CRC EVANS PBC16-30 PIPELINE Y508 8 TRUCK FOAM SYSTEM INTERNATIO 8100 PIPELINE Y511 3 DUST CONTROL WATER DUST BOSS DB-60 PIPELINE Y513 2 DRILL HDD D100X120 VERMEER D100X120 DIRECTIONAL DRILL Z100 2 PUMP MUD 500GPM GRUNDOMUDD DS500 DIRECTIONAL DRILL Z101 15 DRILL HDD JT100 STEM/STEM DITCHWITCH JT100 DIRECTIONAL DRILL Z102 2 DRILL HDD D10OX140 VERMEER D10OX140 DIRECTIONAL DRILL Z103 2 DRILL HDD PRIME 80T PRIME DIRECTIONAL DRILL Z105 1 DRILL HDD D60X90 VERMEER D60x90 DIRECTIONAL DRILL Z106 1 HAMMER TT TAURUS TAURUS M HAMMER Z110 6 HAMMER TT GOLIATH GRUNDORAM HERCULES HAMMER Z120 8 WICK DRAIN INSTALLER APE 100 WICK DRAIN HAMMER Z125 1 TRUCK DRILL VERT 40K FTLB KLEMM KR806-3 DRILL VERT Z140 3 DRILL HDD SML<20K LBS DODRILL 4X DIRECTIONAL DRILL Z160 23 DRILL VERT<100K FTLB CAT 320 BL DRILL VERT Z170 4 DRILL VERT 101 K-155K FTLB SOILMEC R622HD DRILL VERT Z180 3 DRILL VERT 156K-200K FTLB CAT 336E DRILL VERT Z185 4 DRILL VERT 201 K-225K FTLB CAT 349E DRILL VERT Z190 3 DRILL VERT>225K FTLB CAT 345D DRILL VERT Z195 1 PUMP MUD CLEANING 500 GPM MGS TENSOR M DIRECTIONAL DRILL Z200 9 DRILL HDD 150K-250K LB UNIVERSAL UNI220X240 DIRECTIONAL DRILL Z220 1 DRILL HDD D24X40 VERMEER D24X40 II DIRECTIONAL DRILL Z240 38 PUMP MUD CLEANING 1000GPM MICHELS MUD RIG DIRECTIONAL DRILL Z300 31 DRILL HDD D36X50 VERMEER D36X50II DIRECTIONAL DRILL Z330 21 PUMP MUD 1000GPM MICHELS OPI 350 DIRECTIONAL DRILL Z400 34 DRILL HDD 30OK-450K LB AMERICAN DD420 DIRECTIONAL DRILL Z450 2 TRAILER TANKER FRAC W ICHITA 50OBBL DIRECTIONAL DRILL Z501 11 TRAILER VAC HYDRO EXCAVATOR VERMEER VX30-800 DIRECTIONAL DRILL Z600 72 BORING MACHINE AUGER 60" AMERICAN AUGER 42-600G2 DIRECTIONAL DRILL Z700 4 BORING MACHINE AUGER 42" AMERICAN 42600S DIRECTIONAL DRILL Z800 2 BORING MACHINE AUGER CRADLE HES 824 DRILL-HORIZONTAL Z810 7 DRILL HDD 840K-1.2M LB SKID DRILL RIG DIRECTIONAL DRILL Z840 16 BORING MACHINE AUGER 24" DIRECTIONAL DRILL Z900 2 CAR MINING MINING EQUIPMENT FLATCAR TUNNEL ZT12 14 BORING MICRO TUNNEL 44-60IN HERRENKNECHT EPB3000 TUNNEL ZT20 3 BORING MICRO TUNNEL 72-97IN AKKERMAN SL74 TUNNEL ZT30 1 BORING TUNNEL 48-60IN DOSCO MD1100 ROADHEADER TUNNEL ZT40 5 BORING TUNNEL 72-97IN WIRTH M TUNNEL ZT50 3 BORING TUNNEL 104-130IN LOVAT TUNNEL BORING MACHINE TUNNEL ZT60 1 BORING TUNNEL 104-130IN EPB LOVAT TUNNEL BORING MACHINE TUNNEL ZT70 3 LOCOMOTIVE TUNNEL<35T MINING EQUIPMENT ME06403 TUNNEL ZT80 6 LOCOMOTIVE TUNNEL 35T PLYMOUTH MMD LOCOMOTIVE TUNNEL ZT81 3 10790 CORPOR Statement Regarding Construction Equipment Ownership Michels has over 10,000 pieces of construction equipment/trucks/trailers alone. As such, it is not practical to provide detailed information by item. Our equipment/trucks/trailers are constantly maintained and each year undergo a complete inspection/tune-up. In addition,the equipment/trucks/trailers are generally replaced on a specific replacement schedule with the number of years retained depending on the type of item.Approximately 70%of our equipment/trucks/trailers are less than 7 years old. Total Accumulated Age of Annual Property Description Items Purchase Price Depreciation Book Value As of 12/31/15 As of 12/31/15 As of 12/31/15 Machinery&Equipment Various $646,321,430 $384,317,374 $262,004,056 Transportation Equipment Various $291,017,928 $182,429,168 $108,588,760 Related Office Furniture& Fixtures Various $ 10,639,349 $ 8,428,276 $ 2,211,073 $372,803,889 P• Box 128, 817 West Main Street, Brownsville, 00. OSHA's Form 300A (Rev..112004) Year 2016 Summary of Work-Related Injuries and Illnesses U.S. Department orcabof Form approved Mfg—121"17( All establishments covered by Part 1904 must complete this Summary page,even Hrto work-related ijuries or illnesses occurred during the year. Remember to review the Log to verify that the entries are complete and accurate before completing this summary. Using the Log,count the individual entries you made for each category. Then write the totals below,making sure youVe added the entries from every page ofthe Log.if you Esta6//shment information no cases,write'0^. Employees,formeremployees,and theirrepresentafins have the light to review the OSHA Form 300 in its entirety. They also have limited access to the OSHA Form 301 or rani earabhihmw,e name Michels Pipe Services its equivalent. See 29 CFR Pat?1904.35,in OSHA's mcordkeeping rule,for further details on the access provisions for these forms. Street 817 W Main Street Number of Cas s City Brownsville state WI ZIP 53006 Total number of Total number of Total number of Total number of Industry description (e.g.,ebu,ujac+nrer njnmtor truck rrailecc) deaths cases with days cases with job other recordable away from work transfer or restriction cases — Pipe Rehabilation 0 2 1 4 Standard Industrial Classification(SIC),if known (e.g..3715) OR Number of Days North American Industrial Classification(NAILS),if known (e.g.,3362/2) 237110 Total number of days away Total number of days ofjob from work transfer or restriction 196 77 Employment Information(If yne dw,7 h—diem figum.eee the Worksheel mi the bark of flus page to eshmote.) Annual average number of employees 92 Injury and Illness Types Total hours worked by all employees last year 192,537.25 Total number of... (M) Sign here (1)Injuries 7 (4)Poisionings 0 Knowingly falsifying this document may result in a fine. (5)Hearing loss 0 (2)Skin disorders 0 (6)All other illnesses 0 I certify that I have examined this document and that to the best of my (3)Respiratory conditions 0 know] a the ent'es are true,accurate,at d complete. tgewf— Post this Summary page tram February f to Apol 30 of the year fallowing the year covered by the form, cam n.,.zm,rr r,ne t , 1l4/2D77 re reporting burden for this collection of information is cati—ted tin overage 5D minutes per response,including time to review the milmmiorn.search and gather the data needed.mid a bate wmpleu and m%imr the wlleciion of information.Persons arc not required to respond to the collection of information unless it displays a cunenth•valid OMB control number.If you haw any wmmcats about these estimates or any other aspens of this data collecton,contact:US Department of Labor.OSHA office of Statistical Analysis,Room N-3644,200 Constitution Arcnue,NW, Washington.DC 20210.Do not send the completed forms to this once. OSHA's Form 300A (Rev.01n004) Year 2015 Summary of Woik-Related Injuries and Illnesses US. e• . oussepassissessiss Form approved OMB no.121"17f All eatabeshments covered by Part 1904 must complete this Summary page,even If no work4elated injuries or illnesses occurred dumV the year, Remember to review the Log to vanrythat Me entries are complete and accurate Delon eompleang leis summary. Usfng Me Log.coure the mchdalusl arMries you made low each calegory Then wee the totals below making sun youV&added the entries Dom every page of the Log.If you EStnbNshmmnt/nfofl"Mon had no cases,wee 10'. Employees,bmrer empbyees,and dWk repnsenteevea haw Me ngm b review to OSHA Form 300 m ds emaety They also have limited access to Ms OSHA Form 301 or s,�aav�al reasrd earse Michels Corporation(Pipe Sefvit85) as"avalent. Sae 29 CFR Part 1904.35,in OSHA's recordkespmg rule,for lufinerdetails on to access Provisions for mesa forms. Street 817 W Main Street City RrownSyllle State W1 ZIP 53006 Total number of Total number of Total number of Total number of Industry description re,g.,hfanP/uerurrr of mrmnr Truck rnuler.5l deaths cases with days cases with job other recordable away from work transfer or restriction cases Pipe Rehahilatatinn 0 3 1 Standard Industrial Classification(SIC).if known reg 37/.5j (G) (N) 0) (j) OR Number of D.7ys North American Industrial Classification(NAICS),if known (e,g.,3362121 237110 Total number of days away Total number of days of job from work transfer or restriction Employment lnformatlon il/pnr drm'l la—these fgrrres,rrr the 65 76 Workslaret on the hack of this forge to eshmare.) (K) (L) Annual average number of employees 91 I Injury and Illness Types Total hours worked by all employees last year 190,627.25 Total number of... (M) Sign here (1)Injuries 5 (4)Poisionings 0 Knowingly falsifying this document may result in a fine. (5)Hearing loss 0 (2)Skin disorders 0 (6)All other illnesses 0 1 certify that I have examined this document and that to the best of my (3)Respiratory conditions 0 knowle a the entries are we,accurate,and co plete. T , f��f+v�.,,f Post Ads Sir-awry page from Tolima y 1 to April 30 of the year following tho year eovend by the form. a Qre�pw��«�,.eu.. Nk Public mportin burden for this wllection of inforemon is esnmmed to merge 50 minutes per reryonu,including time to revteu the mftructtom,search and gather the dots needed.and 7a'a't' gas- 1/14/2016 completc and m im die wilmuon of iafmntmtm.Persons m not required to respond to the collation of information unless n displays a wrentI%t amid OMB control number If you hate any 1 .. W. commesu about these numatn m say other upecb of this dm colimm.cmmt US Department of Lamar.OSHA Office of Stauuicm Anal—s,Room N-3614.2iat Consltm m.As wue.NW, Washtnglon,DC 20210.Do not seed the completed forms a this once OSHA's Form 300A (Rev.01/2004) Year 14 Summary of Work-Related Injuries and Illnesses 1/5 20 Dear 20nt of Lebo, Form approved OMB m.1218-1117t At eaabtshments covered by Pad 1904 must complete this Summe -..... ... .. ry page,even Nno woMreleted utjurros or illnesses ocwrred during the year Remember to review the Log - -- - - - to roily thatMe srWlea are complete and accurate beNre completing this summery. Using the Log,count the individual entries you merle for each category. Then write the totals below melting sure youve added the entries from every page of Me Log. If you had no cases,write•o•. Establishment/nfennat/on Employees,formeremployees,and Moir mprosemebms have Me right to review the OSHA Form 300 in its ent6aty They also have landed access to the OSHA Fort 301 or ds arplwaIOX See 29 CFR Pad 1904.35,in OSHA's roeordkespmg rule,for further details w Me access provisions for Mess forms. roar e•heh hmene eerare Michels Corporation(CIPP) sheet 817 W Main Street Number of C.�sys City Brownsville state WI ZIP 53006 Total number of Total number of Total number of Total number of Indus try description /e.g..Mmnrjacturo ojmotnr rnak trailrrsi deaths cases with days cases ansferorth res other recordable PIPE REHABILATATION away from work transfer or restriction cases 0 4 2 5 Standard Industrial Classification(SIC),if known ie.g..37l5/ (G) (H) (p (3) OR Number of Doys North American Industrial Classification(NAILS),if known (e.g.,336?!?) Total number of days away Total number of days of job 237110 from work transfer or restriction 167 213 EmplOyMOnt 1nlo/7r»a1110n llfjwnt chm'I lime these figures,.see the (K) Worksheei ou the hack of lhis page to estimate.! Annual average number of employees 86 Injury zind Illness Types Total hours worked by all employees last year 181,925.95 Total number of... (M) Sign here (1)Injuries 11 (4)Poisionings 0 Knowingly falsifying this document may result in a fine. (5)Hearing loss 0 (2)Skin disorders 0 (6)All other illnesses 0 1 certify that 1 have examined this document and that to the best of my (3)Respiratory conditions 0 kn led the tries are true,accurate,and complete. A. e/ i1L ice. r. Vice President Post tlds S-»mary pogo low»fobrrtary!to Apd/30 of the year Mlow/mg the year covered by the form. t..m p n ese as Wk Polo&repmtiog bordca for the illation of Information is cslimatod to n sage 50 mmnta pa response,including rime to msesv the instructions.search and Saha the data needed,and 920.583 3192 J•�Z 9'L9/� implore ad m"the mUecum of information.Persons are not required to respond to the colleeties of taformation unless it displays a cumnth salid OMB cannot number.If you hm c nav �""` link consensus about those estimates or soy other aspects of thia data collection,contact:US Departmrnt of Labor.OSHA ORtec of Statistical Analysis,Room N•1644,21M1 Comntulion Awnuc,NW. Washington,DC 20210.Do not send the completed forms to this office OSHA's Form 300A (Rev.01/2004) Year 2013 Summary of Work-Related Injuries and Illnesses �� .nf e/L,IbO/ Form approved OMB so.121 a-017f Al estabta"V covered by Par 1904 must oomPlefa this Summary Page,even tf no twrk-related injures w illnesses oc�cuned dung the)ear Remember b review the Log .. ........ - to very that are erWiss are comPlate vtd axurat0 Debra cornpNao fho summery UseV had no the Log,c a t the individual entries you made for each cathi Than aete me totals below.making sure you've added the envies Dom eveV. ry page of the Log. If you Establishment!n/orsnat/on ees Employ .former employees,and their nijamsentetiws have the ohr to review the OSHA Form 300 m its enraety. They also have IimAerl access to the OSHA Form 301 or ftewtvittant. See 29 OFR Part 1900.35,M OSHA's rteeonikseprtg rule,for/urMer details on the access pmvislons for these brims. rw..n awarm.neese,e Michels Corporation(CIPP) Street P.O.Box 128,817 W.Main St. Citv Brownsville State Wl ZIP 53006 Total number of Total number of Total number of Total number of Industry description le.K,Mmnfacntrer r f murnr truck truikrsl deaths cases with days cases with job other recordable Rehabilitation of Pipe away from work transfer or restriction cases 0 3 0 3 Standard Industrial Classification(SIC),if known (e.g..3'f5) (G) (H) J) W) OR Number of e North American Industrial Classification(NAICS),if known (e.g.,336212/ Total number of days away Total number of days of job 237110 from work transfer or restriction 94 160 Eenployment In/orma tlon(1f)nu Jon't have these fi;tums,see drr K) Worksheet on the back of This prtge to estimure.l Annual average number of emplovees 59 Injury and IfIness Types Total hours worked by all employees last year 142,097 Total number of. (M) Slgn here (1)Injuries 6 (4)Poisionmgs 0(5)Heating loss 0 Knowing ly falsifying this document may result in a fine. (2)Skin disorders 0 (6)All other illnesses 0 1 certify that I have examined this document and that to the best of my (3)Respiratory conditions 0 kn led a entries are truer,accurate,and complete. Poet This 9emerary PROW!from Febrgaary 1 to Apgl 3e of tho year following tiro yeor covered by the/onsa. :mom,�tta� , u,,E/aeit r0 B.V r VP-Michels Pipe Serviceg Tak Pubbe reporting burden for this collation of mfom anon is caunstod to to ersge 50 minutes per response.including time to rccren the inswonons,search and gather the data needed,and 920-924-4300 V2012014 crospkw and-mien the wllaum of tnfmmmm Persons arc nos required to respond to the collecion of mformauon unless n duplays a c—ird,valid OMB control number.If you have aav inY°e Im. m com<ess about the¢cshmates or—other mpcets of Ibis data collection,contact US Dcpartramt of Labor.OSHA Office of Statistical Analvsis.Room NJ W4.200 Conslimtion Avenue,NW, Washington.DC 20210.Do not send the completed forms to this office OSHA'S Form 300A (R. o1,200„) Year 2012 Ofh Reba l h�ItN�ies ahQl!/Ihesses ° „ Fom ap pmad OM.B tw.121"1 N A��� Dr PaR T80t must mnpNta Mis SwnmM'WDs.„en Mno wwk-rs4ted n/unes w dlnasses accvrretl Wmg 1M ys•r.RemamWr to renew Ms Loq --- -------- ewepNss and accurate MN CoftV FV ads su rmavy Usiv the LM lb the ar&A*W grimes you math fbraaah Magary Thw wraa the totals bola.,mawv aura youlnt ached Ma antrws can every peps rifthe Log. Ir you had no essat C046M9101WIt is 3vm r �3S ham 90 nIN M nWmwfne OSHA ram WO at its e nasty Th.y afso nave armed access to the OSHA Fam cut w g you(CIPP) racwtowsl iV rule,for A#Vwrdsbis on 9w aw es provmons for these Mans ►~.N.6N-6%a 4~ Street P.O.Box 128.817 W.Man St. Cm Brownsville State VA ZIP 53tX)6 Total number of Total amber of Total number of Total number of Indust detenptton te.g.,Afowr,facnaar afmaur tnick tmnen) des M with days rasrswith job other recordable afrom transfer or restriction cases Electric Utility Construction 0 0 2 6 Standard Industrial Clasmfitanon(SIC),if krwwn fe,R,37111 (G) (H) (1) P OR • North American lrldustrul Clasufieauon(NAILS),ff krtovm /c g..33l2l2) Total umber of days away Total number of 237110 days of job from work transfer or restriction 0 56 QJtlAAW%Wtt jj4"(7f)—don't hart rheae figures.see the (K) (L) W it kshrer w the hack of this page to estimate.) Armual average number of employees 59 Total hours worked by all amloyees law yew 140,229 Total number of... ( "a Awe (1)Injuries 7 (4)Poisionurgs 0 Knowingly falsifying this document may result is a fine- (5)Hearing loss 0 (2)Skin disorders 0 (6)All other illnesses 1 I certify that I have examined this document and that to the best of my (3)Respiratory conditions 0 knowledge thejentries are true,/a/'��curate,and complete. r// SrO�N� VP Pipsserwa Pmi�r)Irla 8tygytyaq.pags Dp/h AabMlry 7 to .�OI(M.h'aM taMnavNap Ysi►coai+oal4Y rdhY rtofa* ea"a ac«uu.e um Fabbe 1%P •a bodes fa t6rs tolkmoe of mfonenom w esbeaed b avenge 30 mm.ms pa rapoeae,mel.dma uare m m cev.the mIIleeapU.teach and pthm t�dm sacdW.and 920.9244300 1142013 camploe aW review the coltxms o(mformwon.Posecn m ear r.Tco.d b ropond b die mllecrwa of mfamwon uoleae n dupl..r a co Lld valid OMB coobol number If boa lace easy moot DW 00��dton Ihne canoaks a am ptlrr atpor4s of thu dew catiecboe,emrar US DWaman of tabor.OSHA Off—of Slxnur.l Aa.l.su.Ream N-3644.200 Cmwmtge Aceauc,NW. ' Wahcapos.DC 20210.De aw aond the eomplred fame m tbw o1Lce