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AGREEMENT FOR LEASE EXTENSION <br />1... <br />This Agreement for Lease Extension ("Amendment") entered into on the day of <br />, 2014, by Indian River County Solid Waste Disposal District, a dependant special <br />district of Indian River County, whose address is 1801 27t" Street, Vero Beach, FL 32960 <br />("Landlord"), and MWI Corporation, a Florida Corporation, ("Tenant") whose address is 201 <br />North Federal Highway, 2"d Floor, Deerfield Beach, FL 33441, <br />WITNESSETH: <br />WHEREAS, in 2001, the Landlord purchased from Tenant a 19.88 acre parcel of <br />property located at 7775 0' Street SW, Vero Beach, Florida). Purchase of the property was <br />made under the threat of eminent domain, as the Landlord was planning to expand its landfill and <br />solid waste disposal activities on or near Tenant's former property; and <br />WHEREAS, following the purchase of the property, (the Premises), the Landlord agreed <br />to lease -back the property to Tenant until December 31, 2006. The lease was renewed for an <br />additional five years until December 31, 2011; and <br />WHEREAS, before the sale and to this day, Tenant continues to use the property for the <br />manufacture and repair of pumps; and <br />WHEREAS, the Tenant continued to reside on the property under the existing lease <br />terms; and <br />WHEREAS, Tenant has requested a ten year extension to the lease and the County is not <br />planning to begin any type of landfill expansion within that time; and <br />WHEREAS, the County has no objection to extending its lease with Tenant for an <br />additional ten years. <br />NOW, THEREFORE, in consideration of the mutual terms and promises stated herein, <br />and other good and valuable consideration, the receipt and sufficiency of which is hereby <br />acknowledged, the Landlord and Tenant agree as follows: <br />1. The foregoing recitals are incorporated as if fully restated herein. <br />2. The term of that certain Lease and the Amendments there to is hereby extended and <br />amended to terminate on December 31, 2024. <br />3. The annual lease payment shall be $75,500.00 payable in monthly installments of <br />$6,291.67 due on the first workday of the month. The rent shall increase by two (2) <br />percent each year effective with the January 1, 2015 lease payment. <br />4. Except as amended herein, the terms and conditions of the Lease shall remain in full <br />force and effect. To the extent of any conflict between the terms of this Amendment <br />and the terms of the Lease, the terms of this Amendment shall control. <br />332 <br />