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<br /> <br />~ rn:J (ffiX!EJ ~J ~ <br /> <br />fE <br /> <br />~ <br />E.P.I.C <br /> <br />EDGEWOOD PARTNERS <br />Insurance Center <br /> <br />March 31, 2009 <br /> <br />Sunny Isles Beach Government eenter <br />18070 Collins Avenue, City Clerk <br />Sunny Isles Beach, FL 33160 <br /> <br />RE: The Weitz Company, LLC <br />City of Sunny Isles Beach Heritage Park and Parking Garage <br /> <br />Dear City Clerk: <br /> <br />We are pleased to write to you at the request of our client, The Weitz Company, LLC ("Weitz"). <br /> <br />Weitz is a highly regarded and valued client of Edgewood Partners Insurance Center and we are <br />privileged to provide its bonding requirements. Weitz' financial strength and management capabilities <br />have qualified it to bond any project it has chosen to undertake. We have received approval on bonds for <br />Weitz on individual projects in excess of $170,000,000 with a total bonding capacity of $1,200,000,000. <br /> <br />Weitz has surety credit established with Federal Insurance Company of Warren, NJ, which is A. M. Best <br />rated A++ (Superior) FSC XV, Fidelity and Deposit Company of Maryland of Baltimore, MD which is <br />A. M. Best rated A (Excellent) FSC XV, and Zurich American Insurance Company of Schaumburg, IL <br />which is A. M. Best rated A (Excellent) FSC XV, all of which are listed in the Federal Register. <br /> <br />We understand that this project is valued at approximately $12,500,000. We anticipate no problem <br />providing 100% Performance and Payment Bonds at the request of Weitz should it be awarded this <br />contract. However, please be advised that the issuance of any final bonds will be subject to confirmation <br />of appropriate project funding and the acceptable review of the construction contract and bond terms and <br />conditions by Weitz and its sureties as well as normal underwriting considerations at the time the bonds <br />are required. <br /> <br />The consideration to issue bonds on these projects is solely a matter between Weltz and its sureties and <br />neither Weitz, its sureties, nor we assume any liability to third parties or to you by issuance of this letter. <br /> <br />Weitz has an excellent reputation in the construction industry and is ranked among the top 40 builders in <br />the United States with annual revenues exceeding $1.4 Billion. <br /> <br />If you need further information concerning this fine contractor, please do not hesitate to contact me <br />directly at (925) 244-7723. <br /> <br />Very Truly Yours, <br /> <br /> <br />Lisa Lucas <br />Assistant Vice President-Bond Division <br /> <br />3000 Executive Parkway, Suite 325, San Ramon, CA 94583 <br />P. O. Box 5003, San Ramon, CA 94583 <br />License# OB29370 <br /> <br />CITY OF SUNNY ISLES BEACH RFO FOR CONSTRUCTION SERVICES FOR THE HERITAGE PARK AND PARKING GARAGE <br />