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Indian River County November 10, 2003 \j B0NOIQGISTI iLLC Paget INSIGHT . INNOVATION . INTEGRATION . also agrees to inform BLX of any actual or planned early redemption of the Bonds at its earliest opportunity. BLX is not being engaged hereunder, and BLX is not hereby obligated, to undertake any of the following: (1) independently determine whether there were "prohibited payments " or " imputed receipts " within the meaning of the Treasury Regulations; (Z) perform an audit or review of the investments acquired with gross proceeds or the payment of debt service on the Bonds ; (3) perform calculations or other research as to the desirability of elections or selections that may be available under applicable federal tax law; (4) review the tax-exempt status of interest on the Bonds or any other aspect of the Bond program except for rebate and penalty liability to the extent set forth in this engagement letter; (5) consider any information obtained by BLX pursuant to this engagement for any purpose other than determining such rebate and penalty liability; and (6) update any report delivered hereunder because of events occurring, changes in regulations, or data or information received, subsequent to the date of delivery of such report . Should the Obligor desire BLX to undertake any of the foregoing, such work will be the subject of a separate engagement and a separate fee, if any. In addition, BLX will be entitled to rely entirely on information provided by the Obligor and the Trustee and/or their agents and assigns without independent verification. The fee with respect to the Bonds will be determined pursuant to Exhibit B hereto . Engagement Fees are due upon each engagement and Report Fees are due upon delivery of each report by BLX. This engagement is terminable by either party by written notice to the other, such termination to be effective immediately; provided that, if BLX terminates this engagement prior to delivering any calculations, the engagement fee (if previously paid) shall be refunded. BLX shall be entitled to assign its rights and obligations under this engagement in whole or in part upon prior written notice to the Obligor; provided that no such notice is required so long as Orrick retains the obligation to deliver legal opinions hereunder . No additional fees will be charged by Orrick for providing the legal services described herein . BLX will separately compensate Orrick for such services . BLX and/or Orrick may have client relationships with other parties involved in some manner with the Bonds or the Obligor (for example, underwriters, trustees, rating agencies, insurers, credit providers , lenders , contractors, developers, advisors, investment advisors/providers/brokers , public entities . and others) whether with respect to the Bonds or some unrelated matter(s) . However, to the extent that a conflict-of-interest is created by this engagement, the Obligor hereby waives any such conflict . If this engagement letter is satisfactory, please have an authorized official execute one copy and return it to the undersigned . Very truly yours, BOND LOGISTIX LLC Alan Bond Associate Director Accepted: INDIAN RIVER COUNTY By: Print Name : eth R . Macht Title : Chairman Date : December 16 , -2002 E-mail Address : kmassun @q 1 r cgoy . com