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Florida East Coast <br /> RAI L W A Y , L . L . C . <br /> April 15 , 2005 Bruce Baker <br /> File : 226- 1 -0 Assistant Director <br /> INDIAN RIVER COUNTY PUBLIC WORKS Industrial Development & Real Estate <br /> Mr. Jim Davis, Director <br /> Indian River County Public Works <br /> 184025 1h Street <br /> Vero Beach, FL 32960 <br /> Dear Mr. Davis : <br /> The Indian RiverCount, Public Works (" IRCPRT") is currently a party to a Blanket License Agreement between the <br /> IRCPW and Florida East Coast Railway dated July 7, 1998 , (the "IRCPW ' s Agreement"), whereby certain portions <br /> of Railway ' s right-of-way are licensed to the IRCPW for 6 utility crossings . By letter dated March 21 , 2005 , we <br /> provided you a copy of the revised Schedule A to the IRCPW ' s Agreement reflecting the annual fee of $4 , 624 . 00 for <br /> the utility crossings based on the 2005 market rate . <br /> We also advised in that letter that to accommodate budgeting and other needs of city governments , as well as the <br /> Railway ' s administrative needs, utility licenses were being revised to provide for longer license terms and to <br /> tie <br /> future increases to a fixed rate . Proposed amendments to the IRCPW ' s Agreement to reflect these revisions were <br /> included in numbered paragraphs 1 , 2 and 3 of the March 21 , 2005 letter, for execution by the IRCPW . <br /> Based on requests and further review, the proposed amendments described at paragraphs 2 and 3 of the March 21 , <br /> 2005 , letter have been rewritten to add to and clarify the license cancellation provisions . The <br /> proposed <br /> amendments to the IRCPW ' s Agreement set forth in paragraphs 2 and 3 of the March 21 , 2005 letter are no <br /> longer applicable and are hereby withdrawn . There is no need to execute or return the March 21 , 2005 letter <br /> to us. To avoid confusion, all of the amendment provisions as revised are set forth below . <br /> Accordingly, upon execution of this letter agreement by the IRCPW , the IRCPW ' s Agreement is amended as <br /> follows : <br /> 1 . Paragraph 16 of the IRCPW ' s Agreement is hereby deleted in its entirety and replaced with the following : <br /> " 16 . Commencing with the initial term of this Agreement, Licensee shall pay in advance unto Railway for <br /> each year or fraction thereof, of the life of said crossing or other facilities , the applicable sums as listed on <br /> Schedule " A " attached hereto and :rade a part hereof. The applicable license fees listed on Schedule " A " <br /> shall be increased each year on the anniversary date of the Agreement, commencing on the anniversary date <br /> of the year 2006 , by the product of the annual fee in effect for the preceding year multiplied by one hundred <br /> percent ( 100%) of the percentage increase in the Consumer Price Index (CPI) , or 3 % whichever is greater . <br /> The base CPI will be the CPI for the month of the year preceding the effective anniversary date by ninety <br /> (90) days . The "CPI " shall mean the Consumer Price Index ( 1967 = 100 ), issued by the Bureau of Labor <br /> Statistics of the U . S . Department of Labor. No adjustment will be made for decreases in the CPI . " <br /> 2 . Paragraph 23 of the IRCPW ' s Agreement is hereby deleted in it entirety and replaced with the following : <br /> "23 . The licenses herein granted are subject to the needs and requirements of the Railway and Licensee <br /> shall, at the sole expense of Licensee , remove and/or relocate any existing crossings , appliances , fixtures or <br /> facilities upon sixty (60) days prior written notice to Licensee whenever, in the furtherance of its needs and <br /> requirements , Railway shall find such action necessary . Railway shall use good faith efforts to provide to <br /> Licensee a replacement location, on, over and across Railway property. Any appliances , fixtures , or <br /> facilities at the replacement location will be subject to this Agreement and Railway shall use good faith <br /> efforts to minimize the cost of and impact to Licensee of any such relocation. If no replacement location <br /> Ph: (904) 826-2269 9 Fax: (904) 826-2322 <br /> One Malaga Street • P. 0. Box 1048 • St. Augustine, FL • 32085- 1048 <br />