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CONTRACT PERIOD <br /> This Contract shall be binding on the parties for a period of twelve ( 12 ) consecutive months from the <br /> date of this Contract by both parties unless terminated earlier in accordance with its terms . The contract <br /> start date is subject to construction completion of the new Indian River County Biosolids Dewatering <br /> Facility . Indian River County may extend the term of this Contract for up to four (4) additional terms of <br /> twelve ( 12) months each on the same terms and conditions subject to CONTRACTOR acceptance , <br /> satisfactory performance and determination that renewal will be in the best interest of Indian River <br /> County . <br /> REQUIRED NOTIFICATIONS <br /> The Contractor shall notify Indian River County immediately upon any change in ownership or <br /> financial condition of the company . Indian River County reserves the right to terminate any contract <br /> entered into between Indian River County and an awarded Contractor if in Indian River County ' s sole <br /> and absolute judgment changes to the company ' s ownership or financial condition renders the <br /> Contractor unable to perform the scope of services sought under this contract . The Contractor shall <br /> disclose future contractual obligation within the State of Florida throughout the term of the contract and <br /> provide reasonable assurance that such obligations will not preclude the Contractor from meeting its <br /> obligations under this Contract . <br /> ADJUSTMENTS TO RATES <br /> Price adjustments will be made on an annual basis after the first 12 -month term based on the consumer <br /> price index (CPI) . Unit prices shall be adjusted upward or downward annually to reflect changes in the <br /> CPI for all urban consumers for the South. Should the CPI be discontinued or substantially modified, <br /> an alternate index shall be chosen by mutual agreement of the Contractor and Indian River County . <br /> Beginning on January 2011 and on each January 1 thereafter, the unit contract prices shall be adjusted <br /> to reflect the increase or decrease in the CPI for the immediately preceding twelve ( 12 ) month period of <br /> January to January . The Contractor shall notify Indian River County in writing of increases that are <br /> based on the CPI , as provided in this section , no less than thirty ( 30) days prior to their implementation. <br /> Page 14 of 47 <br />