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Agreement for Sandridge Golf Club Maintenance Agreement THIS MAINTENANCE AGREEMENT ("Agreement") is by and between INDIAN RIVER COUNTY, a Political Subdivision of the State of Florida organized and existing under the Laws of the State of Florida, (hereinafter called OWNER) and International Golf Maintenance, Inc. (hereinafter called CONTRACTOR). OWNER and CONTRACTOR, in consideration of the mutual covenants hereinafter set forth, agree as follows: ARTICLE 1 - WORK CONTRACTOR shall complete all Work as specified or indicated in the Contract Document, generally described as agronomic, horticultural and recurring services ("Services") for Sandridge Golf Club ("Club"), located at 5300 73rd Street, Vero Beach, Florida. Services will be provided as detailed in Request for Proposals (RFP) 2020034 and Contractor's response to the RFP. ARTICLE 2 - TERM This Agreement shall be effective for a period of five years from the Effective Date (October 1, 2020), unless earlier terminated as provided herein. OWNER shall have the option to renew this agreement for two additional five year terms, based on Contractor concurrence and determination that renewal is in the best interest of the OWNER. ARTICLE 3 - PAYMENT Owner shall make monthly payments, equal to one twelfth of the annual total price, on the last Friday of each month. Year 1 total contract price $ 1,188,722.50 Year 2 total contract price $ 1,221,307.23 Year 3 total contract price $ 1,262,452.30 Year 4 total contract price $ 1,297,108.82 Year 5 total contract price $ 1,336,477.91 All payments for services shall be made to the CONTRACTOR by the COUNTY in accordance with the Local Government Prompt Payment Act, as may be amended from time to time (Section 218.70, Florida Statutes, et seq.). Any payment, however, final or otherwise, shall not release the CONTRACTOR or its sureties from any obligations under this Agreement, the RFP, or the Public Construction Bond. ARTICLE 4 - CONTRACT PRICE ADJUSTMENT The Contractor may request an annual rate adjustment in writing to the County no later than June 1 of the year in which Contractor would like the rate adjustment to go into effect. Such rate adjustments are subject to approval by the Board of County Commissioners. If approved, the rate adjustment would become effective October 1 of that year. No adjustment will be considered prior to 2025. The rate of adjustment shall be based on 75 -percent of the change in the Consumer Price Index (CPI) between the month of April in the prior year (CP11) and the month of April in the current year (CP12). The CPI shall be the South Urban Region, All Items — All Urban Wage Earners and Clerical Workers, published by the United States Department of Labor, Department of Labor Statistics (Series ID = CWUR0300SA0). The total rate adjustment is rounded to the nearest hundredth of a percent and in any given year shall not exceed three percent (3.0%) of the previous rate.