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Home My WebLink AboutSurety Bond Release Letter BOARD OF COUNTY COMMISSIONERS County of Monroe ` Mayor Michelle Lincoln,District 2 Mayor Pro 7e ,David Rice,District 4 The Florida Keys Craig Cates,District 1 James K. Scholl,District 3 Robert B.Shillinger,Jr.,County Attorney** Holly Merrill Raschein,District 5 Pedro J.Mercado,Chief Assistant County Attorney** Christine Limbert-Barrows,Sr.Assistant County Attorney** Derek V.Howard,Sr.Assistant County Attorney** Office of the County Attorney Peter H.Morris,Assistant County Attorney** 1111 12t'Street,Suite 408 Patricia Eables,Assistant County Attorney Key West,FL 33040 Joseph X.DiNovo,Assistant County Attorney** (305)292-3470 Office Kelly Dugan,Assistant County Attorney (305)292-3516 Fax Eve M.Lewis,Assistant County Attorney** Gaelan P.Jones,Assistant County Attorney Jeni®Lee MacLaughlin,Assistant County Attorney Ana Walter,Assistant County Attorney Donald Townsend,Jr.,Assistant County Attorney Jessica Quiggle,Assistant County Atto ey++ **Board Certified in City,County&Local Govt.Law ++Board Certified in State&Federal Govt.&Administrative Practice Date: May 12, 2026 o: Chubb Surety 550 Madison Ave, New York,NY, 10022 e: Surety Bond Number: CUTF2300035 Surety: Federal Insurance Company Bond Amount: 55,000,000.00 Bond Principal: 55,000,000.00 Obligee: Monroe County o Whom It May Concern: I am an authorized representative of Monroe County. This letter shall serve as confirmation that, effective May 1 , 2026,the surety bond bearing bond number CUSGTF2300035 (hereafter, "Bond") is hereby fully released and fully discharged, and Federal Insurance Company is hereby released from any and all past,present and future liability under the Bond. Sincerely, Kevin Madok Clerk of Circuit Court& Comptroller, Monroe County, Florida " CRIftDIT CORPORATE&INVESTMENT BANK July 27,2023 Our reference CUSGTF2301473 Applicant AGUSTAWESTLAND PHILADELPHIA CORPORATION Beneficiary FEDERAL INSURANCE COMPANY Amount USD 55,000,000.00 Issue Date July 27,2023 Expiry Date December 31,2025 ACE American Insurance Company ACE Fire Underwriters Insurance Company ACE Indemnity Insurance Company ACE Insurance Company of the Midwest ACE Property and Casualty Insurance Company Agri General Insurance Company Atlantic Employers Insurance Company Bankers Standard Insurance Company Federal Insurance Company Illinois Union Insurance Company Indemnity Insurance Company of North America Insurance Company of North America Pacific Employers Insurance Company Chubb Insurance Company of Canada Westchester Fire Insurance Company Westchester Surplus Lines Insurance Company ACE INA Overseas Insurance Company LTD 436 Walnut Street, Philadelphia,Pennsylvania 19106 Attention:Collateral Manager Beneficiaries: By order of our client,AgustaWestland Philadelphia Corporation, 3050 Red Lion Road,Philadelphia, PA. 19114 we hereby establish this Irrevocable Letter of Credit No.CUSGTF2301473 in your favor for an amount up to but not exceeding the aggregate sum of Fifty-Five Million U.S. Dollars(U.S. 55,000,000, ),effective immediately, and expiring at the offices of the bank on December 31,2025,unless renewed as hereinafter provided. The term 'Beneficiary" includes any successor by operation of law of the named Beneficiary including, without limitation,any liquidator,rehabilitator,receiver or conservator. The words" neficiary"„ u",and"your"refer to the addressee(s)named herein.Any one or more beneficiary(i ) may draw under this letter of credit. Any beneficiary or combination of beneficiaries,acting individually or collectively, may draw on this letter of credit in full or part,and any action taken by any or all beneficiaries hereunder shall bind each of them. Funds under this Letter of Credit are available to you against your sight dr (s),drawn on us,bearing the clause "Drawn under Credit No.CUSGTF2301473", wwww oa-db room-®1301 Avenue of the Americas-New York-New York 10019-6022 Tel:(212)261-3324-Fax:(917)849-5589,Swift:CRLYUS33 CRtDIT AGRICOLE CORPORATE&INVESTMENT BANK This Letter of Credit will be automatically renewed for one-year period upon the expiration date set forth above and upon each anniversary of such date, unless at least sixty(60)days prior to such expiration date, or prior to any anniversary of such date, we notify both you and your client in writing by registered mail that we elect not to so renew this Letter of Credit. Upon receipt by you of our notice of election not to renew this Letter of Credit,you may draw hereunder by your sight draft(s)drawn on us and bearing the clause"Drawn under Credit No.CUSGTF2301473', This Letter of Credit sets forth in full the terms of our undertaking.Such undertaking shall not in any way be modified, amended or amplified by reference to any document or instrument referred to herein or in which this Letter of Credit is referred to or to which this Letter of Credit relates,and any such reference shall not be deemed to incorporate herein by reference any document or instrument. All bank charges and commissions incurred in this transaction are for the applicant's account. We hereby agree with you that drafts drawn under and in compliance with the terms of this credit will be duly honored upon presentation to the drawee.The obligation of Cr&dit Agricole Corporate and Investment Bank under this Letter of Credit is the individual obligation of Crddit Agricole Corporate and Investment Bank and is in no way contingent upon reimbursement with respect thereto. Except as otherwise expressly stated herein,this credit is subject to and governed by the Laws of the State of New York and the 2007 revision of the Uniform Customs and Practice for Documentary Credits of the International Chamber of Commerce(Publication 600)and, In the event of any conflict,the Laws of the State of New York will control.If this credit expires during an interruption of business as described in Article 36 of said I.C.C.publication, we agree to effect payment if this Credit is drawn against within 30 days after the resumption of business. Yours faithfully, CRtDIT AGRICOLE CORPORATE AND INVESTMENT BANK CA CIB NEW YORK BRANCH AUTHORIZED SIGNATURE www ca bb cc.:rm—1301 Avenue of the Americas-New York-Now York 10019-6022 Tel (212)261-3324-Fax:(917)649-5589,Swift:CRLYUS33