Document:

EXHIBIT 4.4

                             STOCK PURCHASE WARRANT

THIS WARRANT WAS ORIGINALLY ISSUED ON DECEMBER 4, 2000 AND HAS NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE
TRANSFERRED IN VIOLATION OF SUCH ACT, THE RULES AND REGULATIONS THEREUNDER OR
THE PROVISIONS OF THIS WARRANT. THIS WARRANT IS ALSO SUBJECT TO A SECURITIES
PURCHASE AGREEMENT (GECC) DATED AS OF DECEMBER 4, 2000 AMONG HI-RISE RECYCLING
SYSTEMS, INC., AND GENERAL ELECTRIC CAPITAL CORPORATION. A COPY OF THE
SECURITIES PURCHASE AGREEMENT WILL BE FURNISHED WITHOUT CHARGE BY HI-RISE
RECYCLING SYSTEMS, INC. TO THE HOLDER HEREOF UPON REQUEST.

Date of Issuance: December 4, 2000                      Certificate No. 2000A-1

         FOR VALUE RECEIVED, HI-RISE RECYCLING SYSTEMS, INC., a Florida
corporation (the "Company"), hereby grants to General Electric Capital
Corporation, a Delaware corporation ("Holder"), or its permitted transferees and
assigns the right to purchase from the Company at any time after the Date of
Issuance (as set forth above) a total of 17,745,689 Warrant Shares (as defined
herein) at a price per share of $0.01 (the "Initial Exercise Price"). This
Warrant is issued pursuant to the terms of the Securities Purchase Agreement
(GECC), dated as of December 4, 2000 (the "Securities Purchase Agreement"),
between the Company and General Electric Capital Corporation ("GE Capital").
Certain capitalized terms used herein are defined in Section 9 hereof. The
amount and kind of securities obtainable pursuant to the rights granted
hereunder and the purchase price for such securities are subject to adjustment
pursuant to the provisions contained in this Warrant.

         This Warrant is subject to the following provisions:

         Section 1. Exercise of Warrant.

         1A. Exercise Period. The purchase rights represented by this Warrant
may be exercised, in whole or in part, at any time and from time to time during
the period commencing on the Date of Issuance through and including the 10th
anniversary of the Date of Issuance (the "Exercise Period"). Notwithstanding the
foregoing, the Holder must purchase a minimum of 10,000 Warrant Shares each time
it chooses to purchase Warrant Shares, except to purchase the remaining Warrant
Shares available to it.

         1B. Exercise Procedure.

         (i) This Warrant shall be deemed to have been exercised when all of the
following items have been delivered to the Company (the "Exercise Time"):

         (a) a completed Exercise Agreement, as described in Section 1C below,
executed by the Person exercising all or part of the purchase rights represented
by this Warrant (the "Purchaser");

         (b) this Warrant;

         (c) if the Purchaser is not the Registered Holder, an Assignment or
Assignments in the form set forth in EXHIBIT I hereto evidencing the assignment
of this Warrant to the Purchaser; and

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         (d) (i)a check payable to the Company in an amount equal to the product
of the Exercise Price (as defined below) multiplied by the number of Warrant
Shares being purchased upon such exercise (the "Aggregate Exercise Price")
and/or (ii) by the Holder's surrender to Company of that number of shares of
Warrant Shares (or the right to receive such number of shares) or shares of
Common Stock having an aggregate Fair Market Value equal to or greater than the
Exercise Price for all shares then being purchased (including those being
surrendered), or (iii) any combination thereof, duly endorsed by or accompanied
by appropriate instruments of transfer duly executed by Holder or by Holder's
attorney duly authorized in writing.

         (ii) Certificates for Warrant Shares purchased upon exercise of this
Warrant shall be delivered by the Company to the Purchaser within five (5)
business days after the date of the Exercise Time together with any cash payable
in lieu of a fraction of a share pursuant to Section 14 hereof. Unless all of
the purchase rights represented by this Warrant have been exercised, the Company
shall prepare a new warrant, substantially identical hereto, representing the
rights formerly represented by this Warrant which have not been exercised and
shall, within such five-day period, deliver such new warrant to the Person
designated for delivery in the Exercise Agreement.

         (iii) The Warrant Shares issuable upon the exercise of this Warrant
shall be deemed to have been issued to the Purchaser at the Exercise Time, and
the Purchaser shall be deemed for all purposes to have become the Registered
Holder of such Warrant Shares at the Exercise Time.

         (iv) The issuance of certificates for Warrant Shares upon exercise of
this Warrant shall be made without charge to the Registered Holder or the
Purchaser for any issuance tax in respect thereof or other cost incurred by the
Company in connection with such exercise and the related issuance of Warrant
Shares (other than transfer taxes payable because the holder of the Warrant
Shares is other than the Registered Holder).

         (v) The Company shall not close its books against the transfer of this
Warrant or of any Warrant Shares issued or issuable upon the exercise of this
Warrant in any manner which interferes with the timely exercise of this Warrant.
The Company shall from time to time take all such action as may be necessary to
assure that the par value per share of the unissued Warrant Shares acquirable
upon exercise of this Warrant is at all times equal to or less than the Exercise
Price then in effect. In the event that the Company fails to comply

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with its obligations set forth in the foregoing sentence, the Purchaser may (but
shall not be obligated to) purchase Warrant Shares hereunder at par value, and
the Company shall be obligated to reimburse the Purchaser for the aggregate
amount of consideration paid in connection with such exercise in excess of the
Exercise Price then in effect.

         (vi) The Company shall assist and cooperate with the Registered Holder
or any the Purchaser required to make any governmental filings or obtain any
governmental approvals prior to or in connection with any exercise of this
Warrant (including, without limitation, making any filings required to be made
by the Company).

         (vii) Notwithstanding any other provision hereof, if an exercise of any
portion of this Warrant is to be made in connection with a Change of Control,
Organic Change (as defined below) or other transaction affecting the Company,
such exercise may at the election of the Registered Holder be conditioned upon
the consummation of such transaction, in which case such exercise shall not be
deemed to be effective until immediately prior to the consummation of such
transaction.

         (viii) The Company shall at all times reserve and keep available out of
its authorized but unissued Common Stock solely for the purpose of issuance upon
the exercise of this Warrant, the maximum number of Warrant Shares issuable upon
the exercise of this Warrant. All Warrant Shares which are so issuable shall,
when issued and upon the payment of the applicable Exercise Price, be duly and
validly issued, fully paid and nonassessable, free of any pre-emptive rights and
free from all taxes, liens and charges. The Company shall take all such actions
as may be necessary to ensure that all such Warrant Shares may be so issued
without violation by the Company of any applicable law or governmental
regulation. The Company shall not take any action which would cause the number
of authorized but unissued Warrant Shares to be less than the number of such
shares required to be reserved hereunder for issuance upon exercise of the
Warrant.

         (ix) If the Warrant Shares issuable by reason of exercise of this
Warrant are at the time of exercise of this Warrant convertible into or
exchangeable for any other stock or securities of the Company, the Company
shall, at the Purchaser's option and upon surrender of this Warrant by the
Purchaser as provided above together with any notice, statement or payment
required to effect such conversion or exchange of Warrant Shares, deliver to the
Purchaser (or as otherwise specified by the Purchaser) a certificate or
certificates representing the stock or securities into which the Warrant Shares
issuable by reason of such conversion are convertible or exchangeable,
registered in such name or names and in such denomination or denominations as
the Purchaser has specified.

         (x) The Company shall not, and shall not permit its Subsidiaries to,
directly or indirectly, by any action (including, without limitation,
reincorporation in a jurisdiction other than Florida, amending its certificate
of incorporation or through any Organic Change, issuance or sale of securities,
recapitalization, reclassification of shares or any other voluntary action)
avoid or seek to avoid the observance or performance of any of the terms of this
Warrant or impair or diminish its value (except for any action which ratably
affects all Warrant Shares and shares of Common Stock), but shall at all times
in good faith assist in the carrying out of all such terms of this Warrant.

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Without limiting the generality of the foregoing, the Company shall (a) obtain
all such authorizations, exemptions or consents from any public regulatory body
having jurisdiction thereof as may be necessary to enable the Company to perform
its obligations under this Warrant and (b) except as set forth in this Section 1
B, not undertake any reverse stock split, combination, reorganization or other
reclassification of its capital stock which would have the effect of causing a
material portion of the purchase rights represented hereby to become exercisable
for less than one share of Common Stock.

         1C. Exercise Agreement. Upon any exercise of this Warrant, the
Purchaser shall deliver to the Company an Exercise Agreement in substantially
the form set forth in EXHIBIT I hereto, except that if the Warrant Shares are
not to be issued in the name of the Registered Holder, the Exercise Agreement
shall also state the name of the Person to whom the certificates for the Warrant
Shares are to be issued, and if the number of Warrant Shares to be issued does
not include all of the Warrant Shares purchasable hereunder, it shall also state
the name of the Person to whom a new Warrant for the unexercised portion of the
rights hereunder is to be issued.

         Section 2. Adjustment of Exercise Price and Number of Shares. In order
to prevent dilution of the rights granted under this Warrant, the Initial
Exercise Price shall be subject to adjustment from time to time as provided in
this Section 2 (as so adjusted, the "Exercise Price"), and the number of Warrant
Shares obtainable upon exercise of this Warrant shall be subject to adjustment
from time to time, each as provided in this Section 2.

         2A. Certain Acquisitions. If and when on or after the Date of Issuance
the Company (i) engages in a business combination transaction, whether by way of
stock purchase, merger, asset purchase or otherwise, or (ii) issues more than
444,444 shares of Common Stock in the aggregate upon conversion of the Company's
Series B Convertible Preferred Stock, then immediately upon the consummation of
any such transaction or issuance, the number of Warrant Shares obtainable upon
exercise of this Warrant shall be increased so that this Warrant shall entitle
the Registered Holder to purchase that number of Warrant Shares which shall bear
the same proportion to the Fully Diluted Common Stock of the Company immediately
after any such transaction or issuance as the proportion of that number of
Warrant Shares in effect immediately prior to any such transaction or issuance
bore to the Fully Diluted Common Stock of the Company immediately prior to such
transaction or issuance. This adjustment shall be made separately for each such
transaction and issuance. For the purposes hereof, "Fully Diluted Common Stock"
as of a specified time shall mean the aggregate of all outstanding shares of
Common Stock as of such time plus all shares of Common Stock issuable upon the
exercise or conversion of securities exercisable for, or convertible into,
shares of Common Stock of the Company which securities are outstanding or
issuable at such time.

         2B. Adjustment to Exercise Price. If and whenever on or after the Date
of Issuance the Company issues or sells, or in accordance with Section 2C is
deemed to have issued or sold, any shares of Common Stock for a consideration
per share less than the Exercise Price in effect immediately prior to the time
of such issue or sale, then immediately upon such issue or sale or deemed issue

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or sale the Exercise Price shall be reduced to the Exercise Price determined by
dividing (i) the sum of (1) the product derived by multiplying the Exercise
Price in effect immediately prior to such issue or sale by the number of shares
of Common Stock Deemed Outstanding immediately prior to such issue or sale, plus
(2) the consideration, if any, received by the Company upon such issue or sale,
by (ii) the number of shares of Common Stock Deemed Outstanding immediately
after such issue or sale. Notwithstanding anything in this Agreement to the
contrary, there will be no adjustment pursuant to this Section 2B for any
issuance or deemed issuance of Common Stock (i) pursuant to exercise of stock
options, warrants and other rights to acquire Common Stock described in Schedule
3.2 of the Securities Purchase Agreement (as such number of shares is
proportionately adjusted for subsequent stock splits, combinations of shares and
stock dividends affecting the Common Stock), in each case pursuant to the terms
thereof as in effect on the date hereof, and (ii) pursuant to the Company's
stock option plans described in Schedule 3.2 of the Securities Purchase
Agreement.

         2C. Effect on Exercise Price of Certain Events. For purposes of
determining the adjusted Exercise Price under Section 2B, the following shall be
applicable:

         (1) Issuance of Rights or Options. If the Company in any manner grants
or sells any Options and the price per share for which Common Stock is issuable
upon the exercise of such options, or upon conversion or exchange of any
Convertible Securities issuable upon exercise of such Options, is less than the
Exercise Price in effect immediately prior to the time of the granting or sale
of such Options, then the total maximum number of shares of Common Stock
issuable upon the exercise of such Option or upon conversion or exchange of the
total maximum amount of such Convertible Securities issuable upon the exercise
of such Options shall be deemed to be outstanding and to have been issued and
sold by the Company at the time of the granting or sale of such Options for such
price per share. For purposes of this paragraph, the "price per share for which
Common Stock is issuable" shall be determined by dividing (i) the total amount,
if any, received or receivable by the Company as consideration for the granting
or sale of such Options, plus the minimum aggregate amount of additional
consideration payable to the Company upon exercise of all such options, plus in
the case of such Options which relate to Convertible Securities, the minimum
aggregate amount of additional consideration, if any, payable to the Company
upon the issuance or sale of such Convertible Securities and the conversion or
exchange thereof, by (ii) the total maximum number of shares of Common Stock
issuable upon the exercise of such Options or upon the conversion or exchange of
all such Convertible Securities issuable upon the exercise of such Options. No
further adjustment of the Exercise Price shall be made when Convertible
Securities are actually issued upon the exercise of such Options or when Common
Stock is actually issued upon the exercise of such Options or the conversion or
exchange of such Convertible Securities.

         (2) Issuance of Convertible Securities. If the Company in any manner
issues or sells any Convertible Securities (other than pursuant to the Company's
stock option plans described in Schedule 3.2 to the Securities Purchase
Agreement), and the price per share for which Common Stock is issuable upon
conversion or exchange thereof is less than the Exercise Price in effect
immediately prior to the time of such issue or sale, then the maximum number of

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shares of Common Stock issuable upon conversion or exchange of such Convertible
Securities shall be deemed to be outstanding and to have been issued and sold by
the Company at the time of the issuance or sale of such Convertible Securities
for such price per share. For the purposes of this paragraph, the "price per
share for which Common Stock is issuable" shall be determined by dividing (i)
the total amount received or receivable by the Company as consideration for the
issue or sale of such Convertible Securities, plus the minimum aggregate amount
of additional consideration, if any, payable to the Company upon the conversion
or exchange thereof, by (ii) the total maximum number of Shares of Common Stock
issuable upon the conversion or exchange of all such Convertible Securities. No
further adjustment of the Exercise Price shall be made when Common Stock is
actually issued upon the conversion or exchange of such Convertible Securities,
and if any such issue or sale of such Convertible Securities is made upon
exercise of any Options for which adjustments of the Exercise Price had been or
are to be made pursuant to other provisions of this Section 2, no further
adjustment of the Exercise Price shall be made by reason of such issue or sale.

         (3) Change in Option Price or Conversion Rate. If the purchase price
provided for in any Options, the additional consideration, if any, payable upon
the conversion or exchange of any Convertible Securities or the rate at which
any Convertible Securities are convertible into or exchangeable for Common Stock
changes at any time, the Exercise Price in effect at the time of such change
shall be immediately adjusted to the Exercise Price which would have been in
effect at such time had such Options or Convertible Securities still outstanding
provided for such changed purchase price, additional consideration or conversion
rate, as the case may be, at the time initially granted, issued or sold. For
purposes of this Section 2C(3), if the terms of any Option or Convertible
Security which was outstanding as of the Date of Issuance of this Warrant are
changed in the manner described in the immediately preceding sentence, then such
Option or Convertible Security and the Common Stock deemed issuable upon
exercise, conversion or exchange thereof shall be deemed to have been issued as
of the date of such change; provided, that no such change shall at any time
cause the Exercise Price hereunder to be increased.

         (4) Treatment of Expired Options and Unexercised Convertible
Securities. Upon the expiration of any Option or the termination of any right to
convert or exchange any Convertible Security without the exercise of any such
Option or right, the Exercise Price then in effect hereunder shall be adjusted
immediately to the Exercise Price which would have been in effect at the time of
such expiration or termination had such Option or Convertible Security, to the
extent outstanding immediately prior to such expiration or termination, never
been issued. For purposes of this Section 2C(4), the expiration or termination
of any Option or Convertible Security which was outstanding as of the Date of
Issuance shall not cause the Exercise Price hereunder to be adjusted unless, and
only to the extent that, a change in the terms of such Option or Convertible
Security caused it to be deemed to have been issued after the Date of Issuance.

         (5) Calculation of Consideration Received. If any Common Stock, Option
or Convertible Security is issued or sold or deemed to have been issued or sold
for cash, the consideration received therefor shall be deemed to be the amount
received by the Company therefor (net of discounts, commissions and

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related expenses). If any Common Stock, Option or Convertible Security is issued
or sold for a consideration other than cash, the amount of the consideration
other than cash received by the Company shall be the fair value of such
consideration, except where such consideration consists of securities, in which
case the amount of consideration received by the Company shall be the Fair
Market Value thereof as of the date of receipt. If any Common Stock, Option or
Convertible Security is issued to the owners of the non-surviving entity in
connection with any merger in which the Company is the surviving company, the
amount of consideration therefor shall be deemed to be the fair value of such
portion of the net assets and business of the non-surviving entity as is
attributable to such Common Stock, Option or Convertible Security, as the case
may be. The fair value of any consideration other than cash and securities shall
be determined jointly by the Company and Holder. If such parties are unable to
reach agreement within a reasonable period of time, the Holder may, upon a
reasonable good faith determination by the Holder that an appraisal is
necessary, request in a timely manner that the fair value of such consideration
be determined by an independent appraiser experienced in valuing such type of
consideration jointly selected by the Company and the Registered Holder of this
Warrant. The determination of such appraiser shall be final and binding upon the
parties, and the fees and expenses of such appraiser shall be borne by the
Company.

         (6) Integrated Transactions. In case any Option is issued in connection
with the issue or sale of other securities of the Company, together comprising
one integrated transaction in which no specific consideration is allocated to
such Option by the parties thereto, the Option shall be deemed to have been
issued for a consideration of $01.

         (7) Treasury Shares. The number of shares of Common Stock outstanding
at any given time shall not include shares owned or held by or for the account
of the Company or any Subsidiary, and the disposition of any shares so owned or
held shall be considered an issue or sale of Common Stock.

         (8) Record Date. If the Company takes a record of the holders of Common
Stock for the purpose of entitling them (i) to receive a dividend or other
distribution payable in Common Stock, Options or in Convertible Securities or
(ii) to subscribe for or purchase Common Stock, Options or Convertible
Securities, then such record date shall be deemed to be the date of the issue or
sale of the shares of Common Stock deemed to have been issued or sold upon the
declaration of such dividend or upon the making of such other distribution or
the date of the granting of such right of subscription or purchase, as the case
may be.

         2D. Subdivision or Combination of Common Stock. If the Company at any
time subdivides (by any stock split, stock dividend, recapitalization or
otherwise) one or more classes of its outstanding shares of Common Stock into a
greater number of shares, the number of Warrant Shares for which this Warrant
shall be exercisable shall be proportionately increased and the Exercise Price
in effect immediately prior to such subdivision shall be proportionately
reduced, and if the Company at any time combines (by reverse stock split or
otherwise) one or more classes of its outstanding shares of Common Stock into a

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smaller number of shares, the number of Warrant Shares for which this Warrant
shall be exercisable shall be proportionately reduced and the Exercise Price in
effect immediately prior to such combination shall be proportionately increased.

         2E. Reorganization, Reclassification, Consolidation, Merger or Sale.
Any recapitalization, reorganization, reclassification, consolidation, merger,
sale of all or substantially all of the Company's assets or other transaction in
each case which is effected in such a way that holders of Common Stock are
entitled to receive (either directly or upon subsequent liquidation) stock,
securities or assets with respect to or in exchange for Common Stock is referred
to herein as an "Organic Change." Prior to the consummation of any Organic
Change, the Company shall make appropriate provision (in form and substance
reasonably satisfactory to the Registered Holder of this Warrant) to ensure that
such Registered Holder of this Warrant shall thereafter have the right to
acquire and receive upon exercise hereof, in lieu of or addition to (as the case
may be) the Warrant Shares immediately theretofore acquirable and receivable
upon exercise of this Warrant, such shares of stock, securities or assets as
such holder would have received in connection with such Organic Change if such
holder had exercised its Warrants immediately prior to such Organic Change. In
each such case, the Company shall also make appropriate provision (in form and
substance reasonably satisfactory to the Registered Holder of this Warrant) to
insure that the provisions of this Section 2 and Section 5 hereof shall
thereafter be applicable to the Warrants (including, in the case of any such
Organic Change in which the successor entity or purchasing entity is other than
the Company, an immediate adjustment of the Exercise Price to the value for the
Common Stock reflected by the terms of such Organic Change and a corresponding
immediate adjustment in the number of Warrant Shares acquirable and receivable
upon exercise of the Warrants, if the value so reflected is less than the Fair
Market Value of the Common Stock in effect immediately prior to such Organic
Change). The Company shall not effect any such Organic Change unless, prior to
the consummation thereof, the successor entity (if other than the Company)
resulting from such Organic Change assumes by written instrument (in form and
substance reasonably satisfactory to the Registered Holder of this Warrant) the
obligation to deliver to such Registered Holder such shares of stock, securities
or assets as, in accordance with the foregoing provisions, such Registered
Holder may be entitled to acquire.

         2F. Certain Events. If any event occurs of the type contemplated by the
provisions of this Section 2 but not expressly provided for by such provisions
(including, without limitation, the granting of stock appreciation rights,
phantom stock rights or other rights with equity features other than pursuant to
the stock option plans described in Schedule 3.2 of the Securities Purchase
Agreement), then the Company's Board of Directors shall make an appropriate
adjustment in the Exercise Price and the number of Warrant Shares obtainable
upon exercise of this Warrant so as to protect the rights of the Registered
Holder of this Warrant; and provided further that no such adjustment shall
increase the Exercise Price as otherwise determined pursuant to this Section 2
or decrease the number of Warrant Shares issuable upon conversion of any
Warrant.

         2G. Notices. Promptly after any adjustment of the Exercise Price, the
Company shall give written notice thereof to the Registered Holder, setting
forth in reasonable detail and certifying the calculation of such adjustment.

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The Company shall give written notice to the Registered Holder at least 20 days
prior to the date on which any Organic Change shall take place. The Company
shall also give written notice to the Registered Holder at least 20 days prior
to the date on which any dissolution or liquidation shall take place.

         Section 3. Notices of Record Date. In case the Company shall take a
record of all holders of its Common Stock (or other stock or securities at the
time deliverable upon the exercise of this Warrant) for the purpose of entitling
or enabling them to receive any dividend or other distribution, or to receive
any right to subscribe for or purchase any shares of any class or any other
securities, or to receive any other right, then, and in each such case, the
Company will mail or cause to be mailed to the Registered Holder of this Warrant
a notice specifying, as the case may be, the date on which a record is to be
taken for the purpose of such dividend, distribution or right, and stating the
amount and character of such dividend, distribution or right, and the time, if
any is to be fixed. Such notice shall be mailed by nationally recognized
overnight courier at least ten (10) days prior to the earlier of the record date
and the effective date for the event specified in such notice, provided that the
failure to mail such notice shall not affect the legality or validity of any
such action.

         Section 4. [Intentionally Omitted].

         Section 5. No Voting Rights: Limitation of Liability. This Warrant
shall not entitle the Registered Holder hereof to any voting rights or other
rights as a stockholder of the Company. No provision hereof, in the absence of
affirmative action by the Registered Holder to purchase Warrant Shares, and no
enumeration herein of the rights or privileges of the Registered Holder shall
give rise to any liability of such Registered Holder for the Exercise Price of
Warrant Shares acquirable by exercise hereof or as a stockholder of the Company.

         Section 6. Transferability. Subject to the transfer conditions referred
to in the legend endorsed hereon, this Warrant and all rights hereunder,
including without limitation the rights described in Sections 8A and 8B hereof
are transferable, in whole or in part, without charge to the Registered Holder,
upon surrender of this Warrant with a properly executed Assignment (in the form
of EXHIBIT II hereto) at the principal office of the Company; provided, however
that the rights described in Section 8B hereof shall cease to be transferable
(i) upon any sale of such Warrant Shares to the public pursuant to Rule 144 (or
any successor provision) under the Securities Act or (ii) when a registration
statement with respect to the sale of such Warrant Shares shall have become
effective under the Securities Act and such securities shall have been disposed
of in accordance with such registration statement. Notwithstanding the
foregoing, any transfer must relate to a minimum of 50,000 Warrant Shares or
such lesser amount as may then be owned by the transferring Holder. The Warrant
Shares shall also be subject to certain transfer restrictions and each
certificate for Warrant Shares purchased upon exercise of this Warrant shall
bear a legend substantially as follows:

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"THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"). THE SECURITIES MAY NOT BE
OFFERED FOR SALE, SOLD OR OTHERWISE TRANSFERRED EXCEPT (I) PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR (II) PURSUANT TO AN EXEMPTION
FROM REGISTRATION UNDER THE ACT IN RESPECT OF WHICH THE COMPANY HAS RECEIVED AN
OPINION OF COUNSEL SATISFACTORY TO THE COMPANY TO SUCH EFFECT OR OTHERWISE IN
ACCORDANCE WITH THE SECURITIES PURCHASE AGREEMENT (GECC), DATED AS OF DECEMBER
4, 2000 BETWEEN THE ISSUER (THE "COMPANY") AND GENERAL ELECTRIC CAPITAL
CORPORATION. A COPY OF SUCH CONDITIONS SHALL BE FURNISHED BY THE COMPANY TO THE
HOLDER HEREOF UPON WRITTEN REQUEST AND WITHOUT CHARGE."

         Section 7. Warrant Exchangeable for Different Denominations. This
Warrant is exchangeable, upon the surrender hereof by the Registered Holder at
the principal office of the Company, for new Warrants of like tenor representing
in the aggregate the purchase rights hereunder, and each of such new Warrants
shall represent such portion of such rights as is designated by the Registered
Holder at the time of such surrender. At the request of the Registered Holder
(pursuant to a transfer of Warrants or otherwise), this Warrant may be exchanged
for one or more Warrants to purchase Common Stock. The date the Company
initially issues Warrants pursuant to the Securities Purchase Agreement shall be
deemed to be the "Date of Issuance" regardless of the number of times new
certificates representing the unexpired and unexercised rights formerly
represented by this Warrant shall be issued. All Warrants representing portions
of the rights hereunder are referred to herein as the "Warrants."

         Section 8. Optional Redemption.

         8A. Optional Redemption of Warrants.

         (i) At any time and from time to time during the period through and
including the 10th anniversary of the Date of Issuance (the "Redemption Period")
and commencing (1) after the first to occur of (A) a Change of Control of the
Company, other than one resulting from a Secondary Public Offering (as
hereinafter defined); or (B) the earliest of (x) the termination by the
Borrowers of any Commitment (other than the Acquisition Loan Commitment) (as
such terms are defined in that certain Credit Agreement, dated as of October 28,
1998 (the "Credit Agreement"), among the Company, the other parties named as
Borrowers thereto, GE Capital, BOA, and Key and the other parties which may from
time to time be Lenders thereunder, and GE Capital, as Administrative Agent, and
BOA, National Association, as Revolver Agent) under the Credit Agreement, and
(y) the date upon which the aggregate amount of permanent reductions in the
outstanding principal balance of the Loans made pursuant to the Credit Agreement
(other than mandatory prepayments as described in Section 1.3(b) and Section
1.3(d) of the Credit Agreement or permanent reductions made as a result of
scheduled payments of principal of the Loans) equals or exceeds $10,000,000.00;

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or (z) upon an event of default by the Company pursuant to the Credit Agreement
and/or (2) upon the occurrence of (A) the registration of the Common Stock of
the Company under the Securities Act pursuant to a public offering of the
Company's securities for cash through a nationally recognized underwriter,
pursuant to which public offering the Company is able to raise net proceeds of
at least $5,000,000 ("Secondary Public Offering"), or (B) the adoption by the
Company of an employee stock ownership plan pursuant to which Common Stock will
be issued to such plan or a trust pursuant to such plan for the benefit of
employees, officers, or directors of the Company the Company shall, at the
option of the Registered Holder of this Warrant, which option shall be exercised
by delivering written notice (the "Warrant Redemption Notice") to the Company at
least 20 days prior to the date designated by such holder for redemption of all
or a portion of the Warrant (the "Warrant Redemption Date"), and subject to any
restrictions in the Credit Agreement redeem from such Registered Holder all or a
portion of the Warrant as to which such option shall have been exercised (the
"Redemption Warrants"), at a price per Redemption Warrant equal to the Fair
Market Value of the Redemption Warrants (the "Warrant Redemption Price").

         (ii) If the funds of the Company legally available for redemption of
the Redemption Warrant on the Warrant Redemption Date are insufficient to redeem
all of the Redemption Warrant, those funds which are legally available shall be
used to redeem the maximum possible number of such Redemption Warrant. At any
time thereafter when additional funds of the Company become legally available
for the redemption of the Redemption Warrant, such funds shall be used, within
10 days after the end of the fiscal quarter in which such funds become legally
available, to redeem the balance of the Redemption Warrant.

         (iii) Within 10 days following receipt of the Warrant Redemption
Notice, the Company shall acknowledge its receipt of such notice and shall
notify the holder having given such notice of the time and place of redemption
and the Warrant Redemption Price.

         (iv) Unless there shall have been a default in payment of the Warrant
Redemption Price, the Redemption Warrant shall not, from and after such Warrant
Redemption Date, be deemed to be outstanding. Without limiting any rights of the
holders of Redemption Warrant which are set forth in this Warrant or are
otherwise available under law, any Redemption Warrant which the Company has
become obligated to redeem on any Warrant Redemption Date but which it has not
redeemed shall continue to have all of the powers and rights which such
Redemption Warrant had prior to such Warrant Redemption Date, until the
aggregate Warrant Redemption Price for such Redemption Warrant has been paid in
full. Notwithstanding the foregoing, no such redemption shall affect any rights
which a holder of Warrant Shares may have under Section 8B hereof.

         (v) Upon receipt by the Company of a Warrant Shares Redemption Notice
from the Registered Holder upon the occurrence of an event described in Section
8A(i)(2)(A) or (B) above, the Company shall be obligated to redeem from the

                                    Page 11
<PAGE>

Registered Holder all of the Redemption Warrants prior to redeeming any other
outstanding securities issued by the Company.

         8B. Optional Redemption of Warrant Shares.

         (i) At any time and from time to time during the Redemption Period, the
Company shall, at the option of each holder of Warrant Shares, which option
shall be exercised by delivering written notice (the "Warrant Shares Redemption
Notice") to the Company at least 20 days prior to the date designated by such
holder for redemption of the Warrant Shares (the "Warrant Shares Redemption
Date"), redeem from such holder of the Warrant Shares all of the Warrant Shares
as to which such option shall have been exercised (the "Redemption Warrant
Shares"), at a price per Redemption Warrant Share equal to the Fair Market Value
thereof (the "Warrant Share Redemption Price").

         (ii) If the funds of the Company legally available for redemption of
the Redemption Warrant Shares on the Warrant Shares Redemption Date are
insufficient to redeem all of the Redemption Warrant Shares, those funds which
are legally available shall be used to redeem the maximum possible number of
such Redemption Warrant Shares. At any time thereafter when additional funds of
the Company become legally available for the redemption of the Redemption
Warrant Shares, such funds shall be used, within 10 days after the end of the
fiscal quarter in which such funds become legally available, to redeem the
balance of the Redemption Warrant Shares.

         (iii) Within 10 days following receipt of the Warrant Shares Redemption
Notice, the Company shall acknowledge its receipt of such notice and shall
notify the holder having given such notice of the time and place of redemption
and the Warrant Share Redemption Price.

         (iv) Unless there shall have been a default in payment of the Warrant
Share Redemption Price, the Redemption Warrant Shares shall not, from and after
such Warrant Shares Redemption Date, be deemed to be outstanding. Without
limiting any rights of the holders of Redemption Warrant Shares which are set
forth in this Warrant or are otherwise available under law, any Redemption
Warrant Shares which the Company has become obligated to redeem on any Warrant
Share Redemption Date but which it has not redeemed shall continue to have all
of the powers and rights which such Redemption Warrant Shares had prior to such
Warrant Share Redemption Date, until the aggregate Warrant Share Redemption
Price for such Redemption Warrant Shares have been paid in full. No such
redemption shall affect any rights which a holder of Warrants may have under
Section 8A or this Section 8B.

         (v) Upon receipt by the Company of a Warrant Redemption Notice from the
Registered Holder upon the occurrence of an event described in Section
8A(i)(2)(A) or (B) above, the Company shall be obligated to redeem from the
Registered Holder all of the Redemption Warrant Shares prior to redeeming any
other outstanding securities issued by the Company, provided, that any shares
issued upon the exercise of warrants issued pursuant to the Securities Purchase

                                    Page 12
<PAGE>

Agreement shall be redeemed pro rata on the basis of the number of such shares
held by the holders thereof.

         8C. Limitations on Rights of Redemption. Notwithstanding anything
herein to the contrary, (i) each redemption right provided by Sections 8A and 8B
of this Agreement shall expire if the Warrant Redemption Notice or the Warrant
Share Redemption Notice relating to a particular event that commences a
Redemption Period is not delivered to the Company within 90 days after the
earlier of (a) the date due notice of any such event is given to the Holder
and/or (b) any public announcement of the event that commences a Redemption
Period (any such 90 day period, a "Redemption Notice Period"), and (ii) the Fair
Market Value shall be determined on the date of the event that commences a
Redemption Period. In any event the Company shall give the Holder prompt Notice
of any event commencing a Redemption Period.

         Section 9. Definitions. The following terms have the meanings set forth
below:

         "BOA" means Bank of America, National Association.

         "Change of Control" shall have the meaning ascribed to such term in the
Credit Agreement.

         "Closing Date" shall have the meaning ascribed to such term in the
Securities Purchase Agreement.

         "Common Stock" means the Company's Common Stock, $01 par value per
share, or any securities into which such Common Stock is hereafter converted,
reclassified or exchanged.

         "Common Stock Deemed Outstanding" means at any given time, the number
of shares of Common Stock actually outstanding at such time, plus the number of
shares of Common Stock deemed to be outstanding pursuant to Sections 2C(1) and
2C(2) hereof.

         "Convertible Securities" means any stock or securities directly or
indirectly convertible into or exchangeable for Common Stock.

         "Fair Market Value" of any security means the highest of: (i) the
market value of the security based on the average of the closing prices of such
security's sales on all securities exchanges or automated quotation system on
which such security may at the time be listed or included, or, if there has been
no sales on any such exchange or reported on such quotation system on any day,
the average of the highest bid and lowest asked prices on all such exchanges or
reported at the end of such day, or, if on any day such security is not so
listed or included in any such quotation system, the average of the highest bid
and lowest asked prices on such day in the domestic over-the-counter market as
reported by the National Quotation Bureau, Incorporated, or any similar
successor organization, in each such case averaged over a period of 21 days
consisting of the third day immediately prior to the day as of which "Fair
Market Value" is being determined and the 20 consecutive business days prior to
such day; provided however, that if such security is an Option, a Convertible
Security or a Warrant, and such security is at any time not listed on any

                                    Page 13
<PAGE>

securities exchange or quoted in any such quotation system or the
over-the-counter market, the "Fair Market Value" of such security shall be
calculated on the basis of "Fair Market Value" of underlying shares of Common
Stock, less any consideration which would be payable if the holder of such
Option, Convertible Security or a Warrant had exercised, exchanged or converted
such Option, Convertible Security or a Warrant on the date of determination of
the "Fair Market Value"; or (ii) the pro rata share of the book value of the
Company (as determined in accordance with generally accepted accounting
principles by reference to the Company's most recent regularly prepared balance
sheet) attributable to such security (assuming the exercise or conversion
thereof, as appropriate); or (iii) the fair value thereof determined by an
appraiser which shall be an investment bank of nationally recognized standing
experienced in valuing securities, which appraiser shall be jointly selected by
the Company and the Registered Holder of this Warrant, valued on the basis of a
sale of the Company as a whole in an arm's-length transaction between a willing
buyer and the Company as a willing seller, neither acting under compulsion (and
in each case, without any discount or reduction for any liquidity or other
inability to sell such security, or the fact that such security represents a
minority interest in the Company or may be subject to redemption, conversion or
exchange by the Company), and the Company shall pay the fees and expenses of
such appraiser; provided, however, that if such security is not listed on any
securities exchange or quoted in any such quotation system or over the-counter
market, then "Fair Market Value" of such security means the highest of the value
determined by the calculation provided for in (ii) and (iii). Notwithstanding
anything herein to the contrary, prior to commencing any appraisal provided for
in (iii), the Registered Holder shall provide written notice to the Company
requesting such an appraisal no later than the last day of the applicable
Redemption Notice Period. Any delays in the performance of the Company's
obligations under this Agreement that are caused by such appraisal shall not
result in any liability or claims whatsoever upon the Company by the Holder
provided that the Company is diligently causing such appraisal to be effected.
The Company shall give the Holder prompt notice of the names of holders of other
warrants issued by the Company demanding redemption and the number of such
warrants and shares of Common Stock of the Company as to which redemption is so
sought promptly.

         "Holder" means GE Capital and any successor in interest thereto.

         "Options" means any rights, warrants or options to subscribe for or
purchase Common Stock or Convertible Securities other than rights, warrants or
options referred to in Sections 2A or 2B above.

         "Person" means an individual, a partnership (including a limited
partnership), a corporation, a limited liability company, an association, a
joint stock company, a trust, a joint venture, an unincorporated organization
and a governmental entity or any department, agency or political subdivision
thereof.

         "Registered Holder" means GE Capital with respect to any security or
such other holder of such security as reflected in the records of the Company or
any securities registrar maintained in the ordinary course.

                                    Page 14
<PAGE>

         "Securities Act" means the Securities Act of 1933, as amended.

         "Subsidiary" shall have the meaning ascribed to such term in the Credit
Agreement.

         "Warrant Shares" means shares of the Company's Common Stock issuable
upon exercise of the Warrant; provided, that if the securities issuable or
issued upon exercise of the Warrant are issued by an entity other than the
Company or there is a change in the class of securities so issuable, then the
term "Warrant Shares" shall mean shares of the security issuable upon exercise
of the Warrant if such security is issuable in shares, or shall mean the
equivalent units in which such security is issuable if such security is not
issuable in shares. Once issued such securities shall cease to be Warrant Shares
(i) when a registration statement with respect to the sale of such securities
shall have become effective under the Securities Act and such securities shall
have been disposed of in accordance with such registration statement or (ii)
upon any sale of such securities to the public pursuant to Rule 144 (or any
successor provision) under the Securities Act.

         Section 10. Replacement. Upon receipt of evidence reasonably
satisfactory to the Company (an affidavit of the Registered Holder shall be
satisfactory) of the ownership and the loss, theft, destruction or mutilation of
any certificate evidencing this Warrant, and in the case of any such loss, theft
or destruction, upon receipt of an indemnity reasonably satisfactory to the
Company (provided that if the Registered Holder is the original holder of this
Warrant, a financial institution or other institutional investor its own
agreement shall be satisfactory), or, in the case of any such mutilation upon
surrender of such certificate, the Company shall (at its expense) execute and
deliver in lieu of such certificate a new certificate of like kind representing
the same rights represented by such lost, stolen, destroyed or mutilated
certificate and dated the date of such lost, stolen, destroyed or mutilated
certificate.

         Section 11. Notices. Except as otherwise provided herein, whenever it
is provided herein that any notice, demand, request, consent, approval,
declaration or other communication shall or may be given to or served upon any
of the parties by any other parties, or whenever any of the parties desires to
give or serve upon any other parties any communication with respect to this
Agreement, each such notice, demand, request, consent, approval, declaration or
other communication shall be in writing and shall be deemed to have been validly
served, given or delivered (a) upon the earlier of actual receipt and three (3)
Business Days after deposit in the United States Mail, registered or certified
mail, return receipt requested, with proper postage prepaid, (b) one (1)
Business Day after deposit with a reputable overnight courier with all charges
prepaid or (c) when delivered, if hand-delivered by messenger, all of which
shall be addressed (i) if to the Company at its principal executive offices and
(ii) if to a Registered Holder, at such Registered Holder's address as it
appears in the records of the Company (unless otherwise indicated by any such
Registered Holder) or to such other address (or facsimile number) as may be
substituted by notice given as herein provided. The giving of any notice
required hereunder may be waived in writing by the party entitled to receive
such notice.

                                    Page 15
<PAGE>

         Section 12. Amendment and Waiver. No amendment, modification or waiver
will be binding or effective with respect to any provision of this Warrant
without the prior written consent of the Registered Holder of this Warrant.

         Section 13. Warrant Register. The Company shall maintain at its
principal executive offices a register for the registration of transfer of
Warrants. Upon the surrender of any certificate representing Warrants at such
place, the Company will, at the request of the record holder of such
certificate, execute and deliver (at the Company's expense) a new certificate or
certificates in exchange therefor representing in the aggregate the number of
Warrant Shares represented by the surrendered certificate. Each such new
certificate will be registered in such name and will represent such number of
Warrant Shares as is requested by the holder of the surrendered certificate and
will be substantially identical in form to the surrendered certificate.

         Section 14. Fractions of Shares. If any fractional interest in a
Warrant Share would, except for the provisions of this subparagraph, be
delivered upon any exercise of the Warrant, at the request of the Registered
Holder the Company, in lieu of delivering the fractional share therefor, shall
pay an amount to the Registered Holder thereof equal to the Fair Market Value of
such fractional interest as of the date of exercise.

         Section 15. Descriptive Headings: Governing Law. The descriptive
headings of the several Sections and paragraphs of this Warrant are inserted for
convenience only and do not constitute a part of this Warrant. THE CONSTRUCTION,
VALIDITY AND INTERPRETATION OF THIS WARRANT SHALL BE GOVERNED BY THE LAWS OF THE
STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW.

                                    Page 16
<PAGE>

         IN WITNESS WHEREOF, the Company has caused this Warrant to be signed
and attested by its duly authorized officers under its corporate seal and to be
dated as of the date hereof.

                                          HI-RISE RECYCLING SYSTEMS, INC.

                                          By: /s/ Kevin J. Bartczak
                                             -----------------------------------
                                              Name: Kevin J. Bartczak
                                              Title: VP, CFO

Attest: /s/ Michael F. Bracken
       ----------------------------------
        Name: Michael F. Bracken
        Title: Executive Vice President

                                    Page 17EXHIBIT 10.59

                THIRD AMENDMENT TO CREDIT AGREEMENT AND COMPOSITE
                              AMENDMENT AGREEMENT

                  THIS THIRD AMENDMENT TO CREDIT AGREEMENT AND COMPOSITE
AMENDMENT AGREEMENT ("Amendment") is made and entered into as of this 19th day
of October, 2000 is by and among HI-RISE RECYCLING SYSTEMS, INC., a Florida
corporation ("Hi-Rise"), IDC ACQUISITION SUB, INC., a New York corporation
("IDC"), WILKINSON COMPANY, INC., an Ohio corporation ("Wilkinson"), RECYCLTECH
ENTERPRISES INC., an Ontario corporation ("Recycltech"), HESCO SALES, INC., a
Florida corporation ("Hesco"), UNITED TRUCK AND BODY CORPORATION, a Florida
corporation ("United Truck"), HESCO EXPORT CORPORATION, a Florida corporation
("Hesco Export"), BES-PAC, INC., formerly known as BPI ACQUISITION CORP., a
South Carolina corporation ("Bes-Pac Acquisition Corp."), and DII ACQUISITION
CORP., a Connecticut corporation ("Devivo Acquisition Corp.") (Hi-Rise, IDC,
Wilkinson, Recycltech, Hesco, United Truck, Hesco Export, Bes-Pac Acquisition
Corp and Devivo Acquisition Corp. are sometimes collectively referred to herein
as the "Borrowers" and individually as a "Borrower"); ACME CHUTE COMPANY, INC.,
a Florida corporation ("Acme Chute"), DEVIVO INDUSTRIES, INC., a Connecticut
corporation ("Devivo"), ECOLOGICAL TECHNOLOGIES, INC., a Connecticut corporation
("Eco"), KE CORPORATION, a Delaware corporation ("Kohlman Acquisition Corp."),
and AMERICAN GOOSENECK, INC., an Arizona corporation ("American Gooseneck")
(Acme Chute, DeVivo, Eco, Kohlman Acquisition Corp. and American Gooseneck are
sometimes collectively referred to herein as the "Subsidiary Guarantors" and,
together with the Borrowers, the "Credit Parties"); GENERAL ELECTRIC CAPITAL
CORPORATION, a New York corporation (in its individual capacity, "GE Capital"),
BANK OF AMERICA, N.A., successor in interest to NATIONSBANK, N.A., a national
banking association (in its individual capacity, "NationsBank"), KEY CORPORATE
CAPITAL, INC., (in its individual capacity, "KCCI"), the other Lenders signatory
hereto from time to time, GENERAL ELECTRIC CAPITAL CORPORATION, as
Administrative Agent for the Lenders ("Administrative Agent"), and BANK OF
AMERICA, N.A., successor in interest to NATIONSBANK, N.A., as Revolver Agent for
the Lenders ("Revolver Agent") and, together with Administrative Agent,
"Agents").

                               W I T N E S S E T H

                  WHEREAS, Borrowers, GE Capital, Nationsbank, KCCI and Agents
 have entered into that certain Credit Agreement, dated as of October 28, 1998
(the "Credit Agreement"), as amended by that certain First Amendment to Credit
Agreement and Composite Amendment Agreement, dated as of September 17, 1999 (the
"First Amendment") and that certain Second Amendment to Credit Agreement and
Composite

<PAGE>

Amendment Agreement dated as of June 30, 2000 (the "Second Amendment"), pursuant
to which Credit Agreement the Lenders extended revolving and term credit
facilities to the Borrowers of up to Sixty-Three Million and No/100 Dollars
($63,000,000.00) in the aggregate for the purpose of funding certain
Acquisitions and refinancing certain indebtedness of the Borrowers, to provide
working capital financing for the Borrowers and to finance capital expenditures
of the Borrowers; and

                  WHEREAS, the Credit Parties acknowledge that they are in
default under the Credit Agreement and related Loan Documents (defined below) as
a result of, among other things, (i) an over-advance under Revolving Loan
(Revolver A) and Revolving Loan (Revolver B) as contemplated in Sections 1.1(a)
and 1.1(b) of the Credit Agreement and the Credit Parties' failure to
immediately repay such over-advances in accordance with the provisions of
Sections 1.3(b)(i) and 1.3(b)(ii) of the Credit Agreement, (ii) the failure to
make the interest payment due October 2, 2000 and (iii) the failure to meet the
financial covenants set forth in Section 6.10 and Annex G of the Credit
Agreement for the Fiscal Quarter ending September 30, 2000 (collectively, the
"Pending Defaults"); and

                  WHEREAS, the Credit Parties have requested certain additional
fundings of up to $500,000.00 (the "Overline Advance") under the Credit
Agreement notwithstanding the existence of the Pending Defaults; and

                  WHEREAS, the Lenders have agreed to fund the Overline Advance
subject to the terms and conditions of this Amendment;

                  NOW THEREFORE, in consideration of the premises, and in
reliance thereon, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as
follows:

                                    ARTICLE 1

                            RECITATIONS; DEFINITIONS

         Section 1.1 Recitations. Each of the Credit Parties hereby jointly and
severally confirms the truth and accuracy of each of the preambles and recitals
set forth in the introduction to this Amendment and agrees that each of the
preambles and recitals set forth in the introduction to this Amendment are
incorporated herein by reference and are and shall be deemed to be a part of
this Amendment as if fully set forth herein.

         Section 1.2 Definitions. Capitalized terms not otherwise defined in
this Amendment shall have the meaning ascribed thereto in the Credit Agreement.

                                       2
<PAGE>

                                    ARTICLE 2

                                   FORBEARANCE

         Section 2.1 Forbearance. Provided that each of the Credit Parties
complies with all of the requirements contained in this Amendment and the Loan
Documents, the Agents and Lenders shall forbear from enforcing their respective
remedies with respect to the Pending Defaults for the period (the "Forbearance
Period") beginning on the date hereof and ending on the Overline Termination
Date (defined below). If at any time any of the Credit Parties fails to comply
with any of the requirements set forth herein or if any additional Default or
Event of Default occurs under this Amendment, the Credit Agreement or the other
Loan Documents, Agents and Lenders may immediately commence, proceed or
otherwise continue with any or all rights and remedies available under the Loan
Documents, under applicable law or otherwise (collectively, "Lenders' Remedies")
without demand or notice to any Credit Party, but as among Agents and Lenders,
subject to the provisions of the Credit Agreement with respect to exercising
remedies. The matters disclosed on Schedule 1 hereto shall not constitute
additional Defaults or Events of Default during the Forbearance Period. At the
end of the Forbearance Period, if Borrower has not paid, in full, all amounts
due and owing under the Loan Documents, or otherwise cured the Pending Defaults
to the full satisfaction of Agents and Lenders in their respective sole and
absolute discretion, Agents and Lenders may proceed with Lenders' Remedies
without any notice or demand to any Credit Party or any other party, but as
among Agents and Lenders, subject to the provisions of the Credit Agreement with
respect to exercising remedies. Lenders and Agents are entering into this
Amendment as an accommodation to the Credit Parties and the Credit Parties
remain bound to perform their respective obligations under the Loan Documents.
The "Overline Termination Date" shall mean October 30, 2000, or if earlier, the
date upon which occurs any Default or Event of Default other than the Pending
Defaults, including, without limitation, the Credit Parties' failure to timely
make the October Interest Payment as required in Section 3.3 below.

                                    ARTICLE 3

                         AMENDMENTS TO CREDIT AGREEMENT

         Section 3.1 Overline Advances. Subject to the terms and conditions of
the Credit Agreement as amended hereby, each Revolving Lender agrees to make
available from time to time until the Overline Termination Date its Pro Rata
Share of up to $500,000.00 outstanding at any one time as an Overline Advance on
a revolving basis under Revolving Loan (Revolver A). The Overline Advance shall
be available notwithstanding any shortfall in the Borrowing Base (Revolver A) or
the existence of the Pending Defaults but shall otherwise be subject to the
terms and conditions of the Credit Agreement with respect to advances. No
Overline Advances shall be available from and

                                       3
<PAGE>

after the Overline Termination Date. For the purpose of the Overline Advance and
until the Overline Termination Date, the Maximum Amount under the Revolving Loan
(Revolver A) shall be $19,000,000 notwithstanding the provisions of the Credit
Agreement that seasonally reduce such Maximum Amount to $17,000,000; provided
that no more than $500,000 in advances made after October 10, 2000 may be
outstanding at any one time.

         Section 3.2 No Other Advances. Except for the Overline Advance and for
advances permitted in Credit Agreement Section 1.12(b), no further advances
under any of the Loans or issuance of Letters of Credit shall be available to
the Credit Parties unless and until Lenders and Agents agree in writing, in
their sole and absolute discretion, to make such further advances. The Credit
Parties have been advised that additional fundings may not be forthcoming and
that alternative sources of fundings should be explored.

         Section 3.3 Interest Payment. The Credit Parties acknowledge that the
interest and loan fee payment due October 2, 2000 in the amount of $526,842.92
(the "October Interest Payment") was not timely made. The Credit Parties shall
make the October Interest Payment on or before 2:00 p.m., EDT, October 20, 2000,
as of which date time is of the essence, without notice, demand or grace period.
If the Credit Parties fail to timely make the October Interest Payment, the
Forbearance Period shall automatically, and without further action by any party,
terminate and the Overline Termination Date shall be deemed to have occurred.

         Section 3.4 Commitment Amounts. Each of the Term Loan Commitment (Term
A), Term Loan Commitment (Term B) and Acquisition Loan Commitment are hereby
reduced to the current outstanding balance thereof as set forth on Schedule 1
hereto.

         Section 3.5 Notice Address. The notice address for GE Capital and
Administrative Agent set forth on Annex I to the Credit Agreement is hereby
amended to be:

                  Mr. Patrick Walsh
                  GE Capital Corporation
                  Capital Funding Inc,
                  401 Merritt Seven
                  2nd Floor
                  Norwalk CT 06856
                  Telecopy:  (203) 229-1992

                                       4
<PAGE>

                  with a copy to:

                  Oscar Cantu, Esq.
                  Weil, Gotshal & Manges LLP
                  701 Brickell Avenue
                  Suite 2100
                  Miami, Florida 33131
                  Telecopy:  (305) 374-7159

         Section 3.6 Certain Definitions.

                  3.6.1 All references in the Credit Agreement to "this
Agreement," "herein," hereof" or sections thereof shall be deemed to mean
references to the Credit Agreement as amended by this Amendment.

                  3.6.2 The definition of "Loan Documents" is hereby amended to
include the Credit Agreement, as amended by this Amendment, together with all
other documents and instruments heretofore, contemporaneous herewith or from
time to time hereafter executed and delivered to or in favor of the
Administrative Agent, the Revolver Agent and/or the Lenders, or any one or more
of them, in connection with the Credit Agreement, as amended by this Amendment,
and/or evidencing and/or securing all or any portion of the obligations and
indebtedness of the Borrowers, and each of them, to the Lenders and the Agents
under the Credit Agreement, as amended by this Amendment, together with any and
all modifications, renewals and replacements therefor made from time to time.

                                    ARTICLE 4

                               COMPOSITE AMENDMENT

         Section 4.1 Additional Definitions. All references in each of the Loan
Documents to the "Agreement" and the "Credit Agreement" shall mean the Credit
Agreement, as amended by this Amendment, and all modifications, amendments and
extensions therefor from time to time.

         Section 4.2 Ratification. The parties hereto agree that the Collateral
Documents, and each of them, secure, in addition to all obligations presently
secured thereby, the full and timely payment performance by the Borrowers, and
each of them, of their respective obligations and indebtedness under and in
respect of the Credit Agreement, as amended by this Amendment, including,
without limitation, the repayment of the Overline Advances and each of the
Notes, as the same may be consolidated,

                                       5
<PAGE>

amended and restated, in each case whether presently existing or hereafter
created or incurred, all of which obligations are and shall be equally secured
with and have the same priority as the obligations originally secured by the
Collateral Documents, and each of them, provided that nothing herein shall be
deemed or construed to mean that the Collateral Documents by their own terms do
not presently secure such obligations and indebtedness.

                                    ARTICLE 5

                          CREDIT PARTY ACKNOWLEDGMEnts

         Section 5.1 Indebtedness. The principal amount outstanding under the
Notes as of the date hereof, is as set forth on the schedule attached hereto as
Schedule "1".

         Section 5.2 No Offsets or Defenses. As a material inducement to Lenders
and Agents to enter into this Agreement, each of the Borrowers and Subsidiary
Guarantors hereby acknowledges and agrees that the Indebtedness and all Loan
Documents are valid and binding liabilities and obligations of each Borrower and
Subsidiary Guarantors. Each of the Credit Parties hereby jointly and severally
ratifies and confirms each of their respective obligations and indebtedness
under the Credit Agreement and represents and warrants to the Lenders and the
Agents that none of them has or claims any defenses, offsets or counterclaims to
any of their respective obligations and indebtedness under the Credit Agreement
or any of the other Loan Documents, in each case as amended by this Amendment.

         Section 5.3 No Waiver or Estoppel. None of this Amendment, the Overline
Advances or any negotiations or other action undertaken with respect to the
Loans shall constitute a waiver of any party's rights under the Loan Documents,
except to the extent specifically stated in a written agreement executed by all
of the parties to this Amendment. In addition, except as expressly provided in
this Amendment, none of this Amendment, the Overline Advances or any
negotiations or other action undertaken with respect to the Loans shall
restrict, inhibit or estop Lenders or Agents from exercising any right, remedy
or power available to such party at any time (whether or not negotiations are
continuing) including all rights, remedies and powers granted under the Loan
Documents or otherwise available at law or in equity, or require any delay in
the exercise of any such right, remedy or power, but subject to the terms and
conditions of the Loan Documents. The Credit Parties agree that no failure to
exercise and no delay in exercising any rights, remedies, and powers under the
Loan Documents or otherwise available at law or in equity shall operate as a
waiver of any such rights, remedies or powers, including the right to charge
interest at the Default Rate on all outstanding amounts (including the Overline
Advances) from the time of the Pending Defaults or the date of Overline Advance,
as applicable.

                                       6
<PAGE>

         Section 5.4 Partial Payments. The Credit Parties acknowledge that any
partial payments made, either before or after the execution of this Amendment,
may be applied to the Notes in partial satisfaction of the Obligations and that
neither the acceptance nor application by Agents or Lenders of any partial
payment shall constitute a cure or waiver of any default under any of the Loan
Documents, constitute any extension or other modification of the Loans or any
Loan Document, or prejudice any of Lenders' rights under any Loan or any Loan
Documents.

         Section 5.5 Representations and Warranties. Each of the Credit Parties
hereby jointly and severally represents and warrants that, except as set forth
on Schedule 2 hereto, each of the representations and warranties of the Credit
Parties, and each of them, set forth in the Credit Agreement and in each of the
other Loan Documents, in each case as amended by this Amendment, is true and
correct as of the date hereof and other than the Pending Defaults, no Default or
Event of Default has occurred and is continuing under the Credit Agreement or
any of the other Loan Documents, in each cases as amended by this Amendment.

         Section 5.6 No Litigation. The Credit Parties hereby represent and
warrant to Administrative Agent and the Lenders that, except as set forth on
Schedule 2 hereto, no litigation, investigation or proceeding before or by an
arbitrator or Governmental Authority is continuing or, to the knowledge of any
Credit Party, threatened against the Credit Parties, or any of them, or any of
their officers, directors or Affiliates (i) with respect to the Credit
Agreement, as amended by this Amendment, the Notes, or any of the other Loan
Documents, in each case as amended by this Amendment, or any of the transactions
contemplated hereby or thereby, or (ii) which could have a Material Adverse
Effect on Business, prospects or financial condition of the Credit Parties, or
any of them.

         Section 5.7 Turnaround Consultant. The Credit Parties represent and
warrant that a turnaround consultant selected by the Credit Parties, Crisanti,
Galef and Coldress ("Company's Consultants") have been, and at all times prior
to the Overline Termination Date will be, engaged by them. On or before the
Overline Expiration Date, the Credit Parties and the Company's Consultants shall
present to the Lenders and Agents a proposal with respect to the repayment of
the Loans.

                                    ARTICLE 6

                              Additional Covenants

         Section 6.1 Further Information and Cooperation. The Credit Parties
acknowledge that Agents have invoked the right to access to the Credit Parties'
books, records and other items pursuant to Credit Agreement Section 1.15 and to
communicate with the Credit Parties' accountants pursuant to Credit Agreement
Section 4.2. From and after the date hereof, Agents, Lenders and their
respective designees shall have continued

                                       7
<PAGE>

access and communication without respect to any requirement of notice, hours or
other matters set forth in said Sections.

         Section 6.2 Subordinated Debt. The Credit Parties acknowledge that
pursuant to Credit Agreement Section 3.24 and the Subordinated Notes referred to
therein, no payments shall be made on the Subordinated Debt during the existence
of the Pending Defaults.

         Section 6.3 Payments to Insiders. During the Forbearance Period, no
payment shall be made to any employee, director, shareholder or any person or
entity in control of any Credit Party or any entity controlled directly or
indirectly by any of the foregoing (each, an "Insider") except for existing
payroll amounts and reimbursement of business related expenses consistent with
past practices and inter-company transfers pursuant to the Cash Management
Systems. The Credit Party shall obtain each Insider's written consent to the
requirements of this Section 6.3.

         Section 6.4 Cash Management. The Credit Parties acknowledge that the
Cash Management Systems are to be maintained by the Credit Parties. No Credit
Party shall use any deposit account that is not a Lockbox Account. At Agents'
request, the Credit Parties shall implement additional cash management
arrangements so as to further secure Lenders' and Agents' security interests in
the cash flow of the Credit Parties.

         Section 6.5 Waiver of the Automatic Stay.

                  6.5.1 The Credit Parties hereby agree that, in consideration
for the Overline Advances in the event that any Borrower or Subsidiary Guarantor
shall (i) file with any bankruptcy court of competent jurisdiction or be the
subject of any petition under Title 11 of the U.S. Code, as amended ("Bankruptcy
Code"), (ii) be the subject of any order for relief issued under the Bankruptcy
Code, (iii) file or be the subject of any petition seeking any reorganization,
arrangement, composition, readjustment, liquidation, dissolution, or similar
relief under any present or future federal or state act or law relating to
bankruptcy, insolvency, or other relief for debtors, (iv) have sought or
consented to or acquiesced in the appointment of any trustee, receiver,
conservator, or liquidator, or (v) be the subject of an order, judgment or
decree entered by any court of competent jurisdiction approving a petition filed
against Credit Parties for any reorganization, arrangement, composition,
readjustment, liquidation, dissolution, or similar relief under any present or
future federal or state act or law relating to bankruptcy, insolvency or relief
for debtors (any of the foregoing clauses (i) - (v) being a "Filing"), then,
subject to court approval, Agents and Lenders shall thereupon be entitled and
the Credit Parties hereby irrevocably consent to and agree to stipulate to
relief from any automatic stay imposed by Section 362 of the Bankruptcy Code, or
otherwise, on or against the exercise of the rights and remedies otherwise
available to Lenders as provided in the Loan Documents, and as otherwise
provided by law, and Credit Parties hereby irrevocably

                                       8
<PAGE>

waive any rights to object to such relief. This covenant is a material
inducement for Lenders to accept this Amendment.

                  6.5.2 Lenders, Agents and Credit Parties shall cooperate in
defending the validity of the transactions contemplated by the Credit Agreement,
this Amendment or any of the other Loan Documents in any court, administrative
or judicial proceeding.

         Section 6.6 Release. Credit Parties hereto desire to fully comprise,
release and settle any and all claims, counterclaims, liabilities, damages,
defenses, demands and causes of action that Credit Parties have or may have
against the Agents or Lenders related to or that may have arisen, may arise or
are or become assertable as a result of events occurring in connection with the
Lending Relationship (as defined below), including any claims, causes of action
or defenses based on the negligence of Agents or Lenders or on any "lender
liability" theories of, among others, bad faith, unfair dealings, duress,
coercion, control, misrepresentation, omission, misconduct, overreaching,
unconscionability, disparate bargaining position, reliance, equity
subordination, fraud, failure of consideration in whole or in part, or
otherwise, and do hereby intend to release, compromise and settle all such
claims and matters, whether known or unknown, whether reduced to judgment,
liquidated or unliquidated, fixed, contingent, matured, unmatured, disputed,
undisputed, legal, equitable, secured or unsecured and whether they arose
collaterally, directly, derivately, or otherwise between the Credit Parties on
the one hand, and Agents or Lenders, on the other hand (collectively, the
"Released Claims"). The Credit Parties hereby stipulate, agree, covenant,
warrant and represent unto the Lenders and Agents that no Borrower or Subsidiary
Guarantor has any outstanding claims, counterclaims, liabilities, damages,
defenses, demands or causes of action against any Lender or Agent and their
respective successors, assigns, directors, officers, employees, agents and/or
attorneys. The Credit Parties do hereby unconditionally forever release, acquit,
settle and discharge each Agent and Lender, and their respective successors,
assigns, directors, officers, employees, agents and attorneys of and from the
Released Claims and Credit Parties hereby declare the Released Claims forever
released, acquitted, settled and discharged. As used herein, the term "Lending
Relationship" shall mean a collective reference to the Notes, any Loan,
Collateral Documents, Guaranties, or any other Loan Documents, together with any
and all negotiations, discussions, acts, omissions, renewals, extensions,
collateral documents, loan agreements, term sheets and other agreements and
actions related thereto.

                                    ARTICLE 7

                                  MISCELLANEOUS

         Section 7.1 Free and Voluntary Act. All Borrowers and Subsidiary
Guarantors are freely and voluntarily entering into this Amendment and will
enter into any document necessary to fulfill the agreements contemplated herein
after full

                                       9
<PAGE>

consultation with legal, financial and other counsel of their choosing. Each
Borrower and Subsidiary Guarantor has individually read this Amendment and have
discussed this Amendment with their respective legal, financial and other
counsel. All Borrowers and the Subsidiary Guarantors understand this Amendment
and the risk inherent in, and significance of, same.

         Section 7.2 No Implied Terms. Any and all duties or obligations that
Agents and Lenders may have to any Borrower or Subsidiary Guarantor, are limited
to those expressly stated in the Loan Documents as amended hereby, and neither
the duties and obligations of Lenders and Agents nor the rights of the Credit
Parties shall be expanded beyond the express terms of the Loan Documents as so
amended.

         Section 7.3 Fair Consideration. Agents' and Lenders' agreements
contained herein constitutes valuable, adequate and fair consideration for the
obligations of the Credit Parties hereunder.

         Section 7.4 No Lender Control. No Lender will, nor has ever been, a
partner, joint venturer, alter ego, manager, or controlling person of any of the
Credit Parties.

         Section 7.5 No Other Representation. The Credit Parties acknowledge and
agree that no Agent, Lender or any person or entity acting on their behalf has
made any representation or promise to any Borrower or Subsidiary Guarantor which
is not expressly set forth herein or in the other Loan Documents.

         Section 7.6 Captions. The captions and headings used in this Amendment
are for convenience of reference only and do not in any way affect, limit,
amplify or modify the terms and provisions of this Amendment.

         Section 7.7 Counterpart Execution. This Amendment may be executed in
several counterparts, each of which shall constitute an original, but together
such counterparts shall constitute one and the same instrument.

         Section 7.8 Successors and Assigns. This Amendment shall inure to the
benefit of and be binding upon the parties hereto and their permitted legal
representatives, heirs, successors and assigns.

         Section 7.9 Time; Construction; Exhibits. Time is of the essence of
each provision of this Amendment. All references to the singular or plural
number or masculine, feminine or neuter gender shall, as the context requires,
include all others. All exhibits attached hereto are by this reference made a
part of this Amendment for all purposes. All references to sections, paragraphs,
and exhibits are to this Amendment unless otherwise specifically noted. The use
of the words "hereof", "hereunder", "herein" and words of similar import shall
refer to this entire Agreement and not to any particular

                                       10
<PAGE>

section, paragraph or portion of this Amendment unless otherwise specifically
noted. All references to "including" shall mean "including without limited to."

         Section 7.10 Severability. If for any reason any provision of this
Amendment shall be held to be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions shall not in any way be
affected or impaired thereby.

         Section 7.11 Authority. Each individual executing this Amendment on
behalf of any party to this Amendment represents and warrants that he or she is
authorized to enter into this Amendment on behalf of that party and that this
Amendment binds that party.

         Section 7.12 Parties in Interest. Nothing in this Amendment is intended
to confer any rights or remedies under or by reason of this Amendment on any
person other than the parties hereto and their respective permitted successors
and assigns, nor is anything in this Amendment intended to relieve or discharge
any obligation of any third person or any party hereto or to give any third
person any right to subrogation or action over or against any party to this
Amendment.

         Section 7.13 Further Assurances. The Credit Parties shall, at their own
expense, execute, acknowledge and deliver any further assignments, conveyances,
transfers or other assurances, documents or instruments reasonably requested by
any Agent and will take any other action consistent with the terms of this
Amendment or which may reasonably be requested by any Agent in order to
accomplish and effectuate the intent hereof.

         Section 7.14 Expenses; Documentary Stamp Taxes. The Credit Parties
shall pay all costs and expenses incurred by Lenders or Agents in connection
with the execution and delivery of this Amendment. This Amendment and the Second
Amended and Restated Promissory Note have been executed and delivered outside
the State of Florida and are not intended to be brought into the State of
Florida except for collection purposes. It is the parties understanding that no
Florida documentary stamp tax levied pursuant to Chapter 201 of the Florida
statutes is due with respect to this Amendment. However, the Credit Parties
agree to indemnify the Lenders and Agents and hold them harmless from and
against any losses, costs or expense, and hereby agree to pay any and all
stamps, duties and taxes, together with any penalty that any Lender or Agent may
be called upon to pay in the event the Florida Department of Revenue or any
other governmental agency should in the future determine that any such amounts
have been, are or will at any time in the future become due and payable.

         Section 7.15 Law Governing; Consent to Jurisdiction. EXCEPT AS
OTHERWISE EXPRESSLY PROVIDED IN ANY OF THE LOAN DOCUMENTS, IN

                                       11
<PAGE>

ALL RESPECTS, INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE,
THE LOAN DOCUMENTS AND THE OBLIGATIONS SHALL BE GOVERNED BY, AND CONSTRUED AND
ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO
CONTRACTS MADE AND PERFORMED IN THAT STATE AND ANY APPLICABLE LAWS OF THE UNITED
STATES OF AMERICA. EACH CREDIT PARTY HEREBY CONSENTS AND AGREES THAT THE STATE
OR FEDERAL COURTS LOCATED IN NEW YORK COUNTY, CITY OF NEW YORK, NEW YORK SHALL
HAVE EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE ANY CLAIMS OR DISPUTES BETWEEN
THE CREDIT PARTIES, AGENTS AND LENDERS PERTAINING TO THIS AMENDMENT OR ANY OF
THE OTHER LOAN DOCUMENTS OR TO ANY MATTER ARISING OUT OF OR RELATING TO THIS
AMENDMENT OR ANY OF THE OTHER LOAN DOCUMENTS, PROVIDED, THAT AGENTS, LENDERS AND
THE CREDIT PARTIES ACKNOWLEDGE THAT ANY APPEALS FROM THOSE COURTS MAY HAVE TO BE
HEARD BY A COURT LOCATED OUTSIDE OF NEW YORK COUNTY, CITY OF NEW YORK, NEW YORK
AND, PROVIDED, FURTHER, NOTHING IN THIS AMENDMENT SHALL BE DEEMED OR OPERATE TO
PRECLUDE ADMINISTRATIVE AGENT FROM BRINGING SUIT OR TAKING OTHER LEGAL ACTION IN
ANY OTHER JURISDICTION TO REALIZE ON THE COLLATERAL OR ANY OTHER SECURITY FOR
THE OBLIGATIONS, OR TO ENFORCE A JUDGMENT OR OTHER COURT ORDER IN FAVOR OF
ADMINISTRATIVE AGENT. EACH CREDIT PARTY EXPRESSLY SUBMITS AND CONSENTS IN
ADVANCE TO SUCH JURISDICTION IN ANY ACTION OR SUIT COMMENCED IN ANY SUCH COURT,
AND EACH CREDIT PARTY HEREBY WAIVES ANY OBJECTION WHICH SUCH CREDIT PARTY MAY
HAVE BASED UPON LACK OF PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON
CONVENIENS AND HEREBY CONSENTS TO THE GRANTING OF SUCH LEGAL OR EQUITABLE RELIEF
AS IS DEEMED APPROPRIATE BY SUCH COURT. EACH CREDIT PARTY HEREBY WAIVES PERSONAL
SERVICE OF THE SUMMONS, COMPLAINT AND OTHER PROCESS ISSUED IN ANY SUCH ACTION OR
SUIT AND AGREES THAT SERVICE OF SUCH SUMMONS, COMPLAINTS AND OTHER PROCESS MAY
BE MADE BY REGISTERED OR CERTIFIED MAIL ADDRESSED TO SUCH CREDIT PARTY AT THE
ADDRESS SET FORTH IN THE CREDIT AGREEMENT AND THAT SERVICE SO MADE SHALL BE
DEEMED COMPLETED UPON THE EARLIER OF SUCH CREDIT PARTY'S ACTUAL RECEIPT THEREOF
OR THREE (3) DAYS AFTER DEPOSIT IN THE U.S. MAILS, PROPER POSTAGE PREPAID.

         Section 7.16 WAIVER OF JURY TRIAL. AGENTS, LENDERS, BORROWERS AND
SUBSIDIARY GUARANTORS DO HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE
THE RIGHT WHICH THEY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION
BASED

                                       12
<PAGE>

HEREON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AMENDMENT, THE
EXHIBITS, ANY TRANSACTION CONTEMPLATED HEREIN, OR ANY COURSE OF DEALING,
STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY ARISING OUT OF OR
RELATED IN ANY MANNER WITH THIS AMENDMENT, ANY NOTE, ANY LOAN OR THE COLLATERAL
(INCLUDING, WITHOUT LIMITATION, ANY ACTION TO RESCIND OR CANCEL THIS AMENDMENT
AND ANY CLAIMS OR DEFENSES ASSERTING THAT THIS AMENDMENT WAS FRAUDULENTLY
INDUCED OR IS OTHERWISE VOID OR VOIDABLE). THIS WAIVER BY LENDERS, BORROWERS AND
SUBSIDIARY GUARANTORS IS A MATERIAL INDUCEMENT FOR AGENTS AND LENDERS TO ENTER
INTO THIS AMENDMENT.

                  [REMAINDER OF PAGE LEFT BLANK INTENTIONALLY]

                                       13
<PAGE>

         IN WITNESS WHEREOF, this Amendment was made and executed as of the date
first above written.

BORROWERS:                    HI-RISE RECYCLING SYSTEMS, INC., a Florida
                              corporation
                              IDC ACQUISITION SUB, INC., a New York corporation
                              WILKINSON COMPANY, INC., an Ohio corporation
                              RECYCLTECH ENTERPRISES INC.,
                              an Ontario corporation
                              HESCO SALES, INC., a Florida corporation
                              BES-PAC, INC., formerly known as BPI ACQUISITION
                              CORP., a South Carolina corporation
                              DII ACQUISITION CORP., a Connecticut corporation

                              By:      /s/ Donald Engel
                                 -----------------------------------------------
                                       Name:  Donald Engel
                                       Title:  Chairman and CEO of Hi-
                                               Rise Recycling Systems and
                                               CEO of other entities listed
                                               above

                              ACME CHUTE COMPANY, INC., a Florida corporation
                              DEVIVO INDUSTRIES, INC., a Connecticut corporation
                              ECOLOGICAL TECHNOLOGIES, INC., a Connecticut
                              corporation
                              KE CORPORATION, a Delaware corporation
                              AMERICAN GOOSENECK, INC., an Arizona corporation

                              By:      /s/ Donald Engel
                                 -----------------------------------------------
                                       Name:  Donald Engel
                                       Title:  CEO

                                       14
<PAGE>

LENDERS:                      GENERAL ELECTRIC CAPITAL CORPORATION, as
                              Administrative Agent and as Lender

                              By:      /s/ Pat Walsh
                                  ----------------------------------------------
                                       Name: Pat Walsh
                                       Title: Senior Vice President

                              BANK OF AMERICA, N.A., successor in interest to
                              NATIONSBANK, N.A., as Revolver Agent and as Lender

                              By:      /s/ Justin McCarthy
                                  ----------------------------------------------
                                       Name: Justin McCarthy
                                       Title: Vice President

                              KEY CORPORATE CAPITAL, INC.

                              By:      /s/ Craig Haverlock
                                  ----------------------------------------------
                                       Name: Craig Haverlock
                                       Title: Designated Signer

                                       15
<PAGE>

STATE OF New York    )
                     )     ss:
COUNTY OF New York   )

                  The foregoing instrument was acknowledged before me this 23
day of October, 2000 by Donald Engel, who personally appeared before me, being
an officer of each of HI-RISE RECYCLING SYSTEMS, INC., a Florida corporation,
IDC ACQUISITION SUB, INC., a New York corporation, WILKINSON COMPANY, INC., an
Ohio corporation, RECYCLTECH ENTERPRISES INC., an Ontario corporation, HESCO
SALES, INC., a Florida corporation, UNITED TRUCK AND BODY CORPORATION, a Florida
corporation, HESCO EXPORT CORPORATION, a Florida corporation, BPI ACQUISITION
CORP., a South Carolina corporation, and DII ACQUISITION CORP., a Connecticut
corporation, on behalf of each such corporation, and he acknowledged that he
signed and delivered the foregoing instrument as his own free will and voluntary
act for the purposes therein set forth. The above-named individual has produced
the following identification which is current or has been issued within the past
five years and bears a serial or other identifying number:

    [ ]            the sworn  written  statement  of a credible  witness (who is
                   presently  known to the Notary) that the signer is personally
                   known to the witness;
    [X]            a driver's  license or  non-driver's  ID issued by Florida or
                   any other U.S. state;
    [ ]            a U.S.  passport  or a foreign  passport  stamped by the U.S.
                   Immigration and Naturalization Service;
    [ ]            a U.S. military ID; or
    [ ]            a Canadian or Mexican  driver's license issued by an official
                   agency.

                              /s/ Kimberly Daly

                              Print Name:       Kimberly Daly
                                         ---------------------------------------
                              NOTARY PUBLIC - State of New York
                              Commission Number: 914883112
                                                --------------------------------
                              My Commission expires:  March 9, 2002

(Notarial Seal)

                                       16
<PAGE>

STATE OF Connecticut    )
                        )  ss: ###-##-####
COUNTY OF Farfield      )

                  The foregoing instrument was acknowledged before me this 20
day of October, 2000 by Pat Walsh, who personally appeared before me, being the
Senior Vice President of GENERAL ELECTRIC CAPITAL CORPORATION, a New York
corporation, on behalf of said corporation, and he acknowledged that he signed
and delivered the foregoing instrument as his own free will and voluntary act
for the purposes therein set forth. The above-named individual has produced the
following identification which is current or has been issued within the past
five years and bears a serial or other identifying number:

     [ ]           the sworn  written  statement  of a credible  witness (who is
                   presently  known to the Notary) that the signer is personally
                   known to the witness;
     [X]           a driver's  license or  non-driver's  ID issued by Florida or
                   any other U.S. state;
     [ ]           a U.S.  passport  or a foreign  passport  stamped by the U.S.
                   Immigration and Naturalization Service;
     [ ]           a U.S. military ID; or
     [ ]           a Canadian or Mexican  driver's license issued by an official
                   agency.

                              /s/ Susan A. Felis
                              --------------------------------------------------
                              Print Name: Susan A. Felis
                              NOTARY PUBLIC - State of CT
                              Commission Number:________________________________
                              My Commission expires: 2/28/05

(Notarial Seal)

                                       17
<PAGE>

STATE OF Florida        )
                        )  ss:
COUNTY OF Hillsborough  )

The foregoing instrument was acknowledged before me this 19th day of October,
2000 by Justin L. McCarthy, who personally appeared before me, being the Vice
President of BANK OF AMERICA, a national banking association, on behalf of said
association, and he acknowledged that he signed and delivered the foregoing
instrument as his own free will and voluntary act for the purposes therein set
forth. The above-named individual has produced the following identification
which is current or has been issued within the past five years and bears a
serial or other identifying number:

   [X]            the sworn  written  statement  of a credible  witness (who is
                  presently  known to the Notary) that the signer is personally
                  known to the witness;
   [ ]            a driver's  license or  non-driver's  ID issued by Florida or
                  any other U.S. state;
   [ ]            a U.S.  passport  or a foreign  passport  stamped by the U.S.
                  Immigration and Naturalization Service;
   [ ]            a U.S. military ID; or
   [ ]            a Canadian or Mexican  driver's license issued by an official
                  agency.

                              /s/ Gale L. Morris
                              --------------------------------------------------
                              Print Name: Gale L. Morris
                              NOTARY PUBLIC - State of Florida
                              Commission Number: OC 667563
                              My Commission expires:

(Notarial Seal)

                                       18
<PAGE>

STATE OF Ohio    )
                 )       ss:
COUNTY OF _______)

The foregoing instrument was acknowledged before me this 19 day of October, 2000
by Craig Haverlock, who personally appeared before me, being the designated
signer of KEY CORPORATE CAPITAL INC., on behalf of said corporation, and he
acknowledged that he signed and delivered the foregoing instrument as his own
free will and voluntary act for the purposes therein set forth. The above-named
individual has produced the following identification which is current or has
been issued within the past five years and bears a serial or other identifying
number:

  [ ]            the sworn  written  statement  of a credible  witness (who is
                 presently  known to the Notary) that the signer is personally
                 known to the witness;
  [X]            a driver's  license or  non-driver's  ID issued by Florida or
                 any other U.S. state;
  [ ]            a U.S.  passport  or a foreign  passport  stamped by the U.S.
                 Immigration and Naturalization Service;
  [ ]            a U.S. military ID; or
  [ ]            a Canadian or Mexican  driver's license issued by an official
                 agency.

                              /s/ Darlene Kemp
                              --------------------------------------------
                              Print Name: Darlene Kemp
                              NOTARY PUBLIC - State of Ohio
                              Commission Number: N/A
                              My Commission expires: 7-15-2004

(Notarial Seal)

                                       19
<PAGE>

                                   SCHEDULE 1

                          CURRENT OUTSTANDING BALANCES

Revolving Notes (Revolver A) including               $17,969,422.83
         Swing Line Notes (Revolver A)

Revolving Notes (Revolver B) including               $7,248,298.95
         Swing Line Notes (Revolver B)

Term Notes A                                         $4,333,333.35

Term Notes B                                         $9,000,000.00

Acquisition Loan Notes                               $14,372,005.70

                                       20
<PAGE>

                                   SCHEDULE 2

                               POTENTIAL DEFAULTS

                       CREDIT PARTIES DISCLOSURE SCHEDULE

                          Dated as of October 19, 2000

         In connection with the Third Amendment to Credit Agreement and
Composite Amendment Agreement, dated as of October 19, 2000 (the "Third
Amendment"), by and among the Credit Parties, the Lenders and the Agents,
attached hereto are certain sections of the disclosure schedule (the "Disclosure
Schedule") to the Third Amendment prepared by the Credit Parties. Capitalized
terms not otherwise defined herein but defined in the Third Amendment shall have
the meaning set forth in the Third Amendment.

         Any fact or item stated in any section of the Disclosure Schedule shall
be deemed to be disclosed on any other section or sections of the Disclosure
Schedule, notwithstanding the omission of a reference or cross-reference
thereto.

         The inclusion of any information in the Disclosure Schedule shall not
be deemed an admission or acknowledgment, in and of itself, that such
information is required to be listed in the Disclosure Schedule or that any such
items are material to the Credit Parties.

         The headings of the sections of the Disclosure Schedule are inserted
for convenience only and shall not be deemed to constitute a part thereof or a
part of the Third Amendment.

                                       21
<PAGE>

                                   Schedule 2

Representations and Warranties and Litigation

The representations and warranties contained in Sections 3.13 and 3.17 of the
Credit Agreement are qualified by the following exceptions:

DeVivo Environmental Matters

In February 1999, Hi-Rise acquired all of the outstanding capital stock of
DeVivo. DeVivo had been operating four paint spray booths to paint its products
since 1985. Two Notices of Violation were issued by the Connecticut Department
of Environmental Protection (the "DEP"), one for construction of the booths and
one for their operation. In addition, a third Notice of Violation was issued by
the DEP for DeVivo's failure to have submitted an application permit under Title
V of the Clean Air Act.

On or about July 31, 2000, the Commissioner of Environmental Protection for the
State of Connecticut (the "Plaintiff") brought an action in Superior Court,
Judicial District of Hartford, State of Connecticut, against DeVivo alleging
that DeVivo violated several provisions of Connecticut law by its failure to
obtain the permits relating to its construction, installation and operation in
1986 and 1994 of those paint spray booths used in its manufacturing processes.
The Plaintiff is seeking civil penalties not to exceed $25,000 per day for each
day of violation on or after October 1, 1990 and civil penalties not to exceed
$1,000 per day for each day of violation prior to October 1, 1990. The Credit
Parties believe that they are entitled to be indemnified for substantially all
liability for this action by the former shareholders of DeVivo pursuant to the
terms and conditions of the Stock Purchase Agreement dated as of February 23,
1999, by and among Hi-Rise Recycling Systems, Inc., DII Acquisition Corp.,
DeVivo, Ecological Technologies and the shareholders of DeVivo.

DeVivo has submitted applications for the necessary permits.

The representations and warranties set forth in Section 3.5 are qualified by the
following exceptions:

The Pending Defaults and the environmental matters described above could have a
Material Adverse Effect. The Credit Parties have been experiencing cash flows
shortages which could have a Material Adverse Effect.

Covenants

                                       22
<PAGE>

The Credit Parties may be in breach of certain covenants set forth in Sections
5.8 and 6.11 of the Credit Agreement due to the DeVivo Environmental Matters
referenced above.

In addition, the Credit Parties may be in breach of the following covenants:

         Section 5.2 - Payment of Obligations
         Hi-Rise files its income tax returns on a consolidated basis that
         includes the other Credit Parties. Hi-Rise has not made any payments
         with respect to its outstanding consolidated income tax liability
         incurred for the fiscal year ended December 31, 1999 because it
         anticipates that it will receive a refund for fiscal year ending
         December 31, 2000 due to losses incurred during that fiscal year.
         Hi-Rise intends to accrue penalties and interest up until the date on
         which the refund is paid to it and allow a portion of that refund to be
         used to pay the outstanding income tax liability and the accompanying
         penalties and interest.

         The Credit Parties owe payment for lawful claims for labor, materials,
         supplies and services which have been provided by certain vendors of
         the Credit Parties and are past due.

         Section 5.6 - Supplemental Disclosure

         The Credit Parties have not supplemented each Disclosure Schedule to
         the Credit Agreement to disclose matters which, if existing or
         occurring at the date of the Credit Agreement, would have been required
         to be set forth or described in such Disclosure Schedule to the Credit
         Agreement or which was necessary to correct any information in such
         Disclosure Schedule or representation to the Credit Agreement.

         Section 5.9 - Landlords' Agreements, Mortgage Agreements and Bailee
         Letters

         The Credit Parties have not yet obtained landlord agreements with
         respect to certain parcels of land which are leased by the Credit
         Parties which would contain a waiver or subordination of all Liens or
         claims that the landlord may assert against the Inventory or Collateral
         at that location.

         Section 6.10 - Financial Covenants

         The Credit Parties are not in compliance with any of the financial
         covenants.

                                       23

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