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Vot YneBeacon <br />U II ! T Y G R U U f <br />*GUARANTEE <br />August 3, 2020 <br />City of Elk River <br />Attn: Brandon Wisner <br />13065 Orono Parkway <br />Elk River, MN 55330 <br />Re: Terra General Contractors, LLC dba Terra Construction <br />Dear Mr. Wisner — <br />ATLANTIC SP€CtALT'Y INSURANCr COMPANY <br />One STATe Street Pta:a. 31-1 Floe. <br />New v0d , NY 1000A <br />ORehPACOns ietycorn <br />We understand that Terra General Contractors, LLC dba Terra Construction is currently bidding or is <br />desirous of bidding projects for City of Elk River. <br />This is to advise you that, in support of Terra General Contractors, LLC dba Terra Construction, Atlantic <br />Specialty Insurance Company is willing to consider performance bonds covering 100% of contract values <br />to a limit of 530,000,000.00 and payment bonds covering 100% of contract values to a limit of <br />$30, 000,000.00- <br />If a contract is awarded to Terra General Contractors, LLC dba Terra Construction, it is our present <br />intention to become Surety on the Performance and Payment Bonds required by the contract. This is <br />contingent upon our satisfaction with the contract documents and Terra General Contractors, LLC dba <br />Terra Construction continuing to satisfy other underwriting considerations. <br />Any arrangement for Bonds required by the contract is a matter between Terra General Contractors, LLC <br />dba Terra Construction and the Surety and we assume no liability to you or your third parties, if for any <br />reason we do not execute these Bonds. <br />Atlantic Specialty Insurance Company is an "A+^ rated company by A.M. Best and is a Federally approved <br />surety by the United States Department of the Treasury. <br />Please feel free to contact me should you require any additional information regarding Terra General <br />Contractors, LLC dba Terra Construction's current bond program. <br />Sincerely, <br />Troy Staples <br />Attorney -in -Fact <br />TS/amcd <br />CC: Pate Bonding, Inc., Agent for Atlantic Specialty Insurance Company <br />Terra General Contractors, LLC dba Terra Construction <br />52 CITY OF ELK RIVER I Elk River Public Safety Building Expansion and Elk River Fire Station #3 <br />