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FIRST AMENDMENT TO SOLID WASTE AND RECYCLABLES <br />COLLECTION FRANCHISE AGREEMENT BETWEEN INDIAN RIVER <br />COUNTY SOLID WASTE DISPOSAL DISTRICT (66SWDD") AND WASTE <br />MANAGEMENT INC. OF FLORIDA ("FRANCHISEE") <br />THIS FIRST AMENDMENT TO SOLID WASTE AND RECYCLABLES <br />COLLECTION FRANCHISE AGREEMENT BETWEEN INDIAN RIVER COUNTY <br />SOLID WASTE DISPOSAL DISTRICT ("SWDD") AND WASTE MANAGEMENT INC. <br />OF FLORIDA ("FRANCHISEE") ("First Amendment") is entered into as of the 4th day of <br />October, 2016 by and between the Indian River County Solid Waste Disposal District, a dependent <br />special district of Indian River County, Florida whose address is c/o Indian River County Utilities <br />Department, 1801 27`h Street, Vero Beach, Florida, 32960 ("SWDD"), and Waste Management, <br />Inc. of Florida, a Florida corporation, whose address is 2700 Wiles Road, Pompano Beach, Florida, <br />33073 ("Franchise"). <br />RECITALS <br />WHEREAS, on April 21, 2015, SWDD and Franchisee entered into the Solid Waste and <br />Recyclables Collection Franchise Agreement Between Indian River County Solid Waste Disposal <br />District ("SWDD") and Waste Management Inc. of Florida ("Franchise") (the "Agreement"); and <br />WHEREAS, SWDD and Franchise desire to decrease the likelihood of significant <br />fluctuations in rates in future years under the Agreement; and <br />WHEREAS, in order to accomplish such goal, SWDD and Franchisee have agreed to <br />eliminate the natural gas component of the rate adjustment and reduce the maximum rate <br />adjustment to 3.0%; <br />NOW THEREFORE, in consideration of the mutual undertakings herein and other good and <br />valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties <br />agree, as follows: <br />1. Recitals. The above recitals are true and correct and are incorporated herein. <br />2. Article 6.6 Amended. The second sentence in Article 6.6 is hereby amended as follows: <br />"The CPI to be used is defined in Revised Exhibit 4." <br />3. Article 16.1.2.1 Amended. Article 16.1.2.I is hereby amended as follows: <br />"All unit prices shall remain the same through the first two Years yew of the Franchise <br />Agreement." <br />4. Article 16.1.2.2 Amended. The first sentence in Article 16.1.2.2 is hereby amended as <br />follows: <br />Page I of 2 <br />