Bonding

Bonds Only, Inc has had the continuing privilege of providing bonding for Pipeline Contractors, Inc. for several years. It is our intent to provide 100% performance and payment bonds for various projects. We have found them to be exemplary with regard to both character and expertise. We are currently entertaining bonding for Pipeline Contractors, Inc into the $4 million single/ $10 million aggregate range, and would entertain higher limits if the need ever arose. The Hanover Insurance Company, Pipeline's surety company, is rated "A-XIV" by A.M. Best Rating.

In our opinion, Pipeline Contractors, Inc is one of the finest, best managed firms in their industry. Pipeline Contractors, Inc. has handled each of its projects in a professional manner and completed all satisfactorily.

We hope the above demonstrates our utmost confidence in Pipeline Contractors, Inc. We anticipate no problem in provideing the necessary bonds for various projects.

As always, The Hanover Insurance Company reserves the right to perform normal underwriting at the time of any bond request, including, without limitation, prior reviews and approval of relevant contract documents, bond forms, and project financing. We assume no liability to Duval County Public Schools or its affiliates if for any reason we do not execute such bonds

Should you have any questions, please do not hesitate to call. Thank you for the opportunity to reccomend such a fine contractor.

Best Regards,

Aretha Boynton

Underwriting Assistant