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PV)14( Liberty Liberty Mutual Surety <br /> Mutual. <br /> May 7, 2018 <br /> City of Sunny Isles Beach <br /> 18070 Collins Ave. <br /> Sunny Isles Beach, FL 33160 <br /> Re: Surety Bond Commitment <br /> Ceres Environmental Services,Inc. (3825 85th Ave.N.,Brooklyn Park,MN 55443)" <br /> RFP# 18-04- 02: Disaster Debris Management and Disposal Services <br /> To Whom It May Concern: <br /> I am pleased to advise you that Liberty Mutual Insurance Company has approved in principle the issuance of <br /> performance and payment bonds in the amount of$1,000,000 or 100% of the contract value, whichever is <br /> greater, for the benefit of the City of Sunny Isles Beach, FL for Ceres Environmental Services, Inc. This <br /> performance and payment bond will be for the successful completion of the work set forth in RFP# 18-04- <br /> 02: Disaster Debris Management and Disposal Services. Ceres Environmental Services, Inc. is approved <br /> to provide bonds for single projects up to $500 million. <br /> Liberty Mutual Insurance Company is a surety or insurance company currently listed on the U.S. Department <br /> of the Treasury Financial Management Service list of approved bonding companies which is published <br /> annually in the Federal Register, with at least an A-rating in the latest printing of the A.M. Best's Key Rating <br /> guide to write individual bonds up to ten (10)percent of policyholders' surplus as shown in the A.M. Best's <br /> key rating guide and is licensed to issue surety bonds in the State of Florida. <br /> If Ceres Environmental Services, Inc. is the Successful Proposer on this contract,the initial performance and <br /> payment bonds for$1,000,000 or 100%of the contract value, whichever is greater, will be issued within <br /> TBD (TBD)days of a written notification from the City of Sunny Isles Beach, FL. The City may request <br /> additional bonds to be issued for the total amount of the estimated contract value of the contract. <br /> This letter constitutes our commitment based upon information and documentation you have submitted. Any <br /> obligation to issue the performance and payment bond will arise only upon the satisfactory preparation, <br /> execution and delivery of documentation in form and substance satisfactory to our company. This <br /> commitment is valid for a period of twelve(12)months from the execution date of the contract and a new <br /> letter will be provided on an annual basis throughout the term of the contract. <br /> Sincerely, <br /> c/ifiit <br /> Sandra M. L�ng strum <br /> Attorney-in-Fact <br /> Liberty Mutual Insurance <br /> 2854 Highway 55, Suite#250 <br /> Eagan, MN 55121 <br /> Member of Liberty Mutual Group <br />