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FIRST AMENDMENT TO AGREEMENT This First Amendment to Standard Form of Agreement between Owner and Contractor on the Basis of a Stipulated Price (" First Amendment") is entered into effective December 16 , 2008 , by and between Indian River County , a political subdivision of the State of Florida , 1801 27th Street, Vero Beach , FL 32960 ("County" or "Owner") and Poole and Kent Company of Florida , having a principal place of business at 1781 N . W. NORTH RIVER DRIVE , MIAMI , FL 33126 ("Contractor") . BACKGROUND RECITALS A . Effective November 14 , 2006 , the County and the Contractor entered into the Standard Form of Agreement between Owner And Contractor on the Basis of a Stipulated Price ("Agreement") . B . The County and the Contractor desire to amend the Agreement by changing certain payment and retainage provisions , as set forth in this First Amendment. NOW THEREFORE , for good and valuable consideration , the receipt and sufficiency of which is hereby acknowledged , the parties hereto , intending to be legally bound , covenant and agree to amend the Agreement as follows : ( 1 ) From and after the effective date of this First Amendment, paragraph 5 . 1 of the Agreement is amended by adding the following sentence at the end of existing paragraph 5 . 1 : Notwithstanding the foregoing , the OWNER and the CONTRACTOR acknowledge and agree that retainage shall be reduced from 5 percent (5%) to Zero percent (0 . 0%) only for those items that meet all of the following criteria : (a) are certified as 100 percent ( 100%) complete on the monthly pay application immediately preceding the request for Zero percent (0 . 0%) retainage ; (b) have received review and approval of OWNER and ENGINEER after field verification that the items are complete ; (c) have been placed in service at the North Reverse Osmosis Plant pursuant to receipt of clearance from the Florida Department of Environmental Protection ; (d) were included on a Certificate of Substantial Completion submitted to the OWNER ; and (e) were accepted for maintenance by the COUNTY . (2) The background recitals are true and correct and form a material part of this First Amendment. (3) All terms and conditions of the Agreement not amended herein remain in full force and effect . IN WITNESS WHEREOF , the County and the Contractor have caused this First Amendment to be signed by their respective duly authorized officers as of the day and year first stated above. Poole and Kent Company of Florida INDIAN RIVER COUNTY BOARD OF COUNTY COMMISSIONERS By B Wes ey S . Davis , Chaii-.man ' :. Printed name and title Attest : Mary Louise Scheidt, Clerk, Ad Interim By ■T.- Deputy- Clerk u APPROVED AS TO FORM ANJLgG SUFFICIENdY U . ty Ad inistr for MARIA L E . F JASSISTANT GO NNTY ATTORNEY