Document:

EXHIBIT 10.60

               FOURTH AMENDMENT TO CREDIT AGREEMENT AND COMPOSITE
                               AMENDMENT AGREEMENT

                  THIS FOURTH AMENDMENT TO CREDIT AGREEMENT AND COMPOSITE
AMENDMENT AGREEMENT ("Amendment") is made and entered into as of this 4th day of
December, 2000 (the "Fourth Amendment Date") 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"), that certain Second Amendment to Credit Agreement and
Composite

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Amendment Agreement dated as of June 30, 2000 (the "Second Amendment"), and that
certain Third Amendment to Credit Agreement and Composite Amendment Agreement
dated as of October 19, 2000 (the "Third 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
meet the financial covenants set forth in Section 6.10 and Annex G of the Credit
Agreement for the Fiscal Quarter ended September 30, 2000 and (iii) certain
additional matters described in Schedule 2 hereto (collectively, the "Pending
Defaults"); and

                  WHEREAS, the Credit Parties have requested certain additional
fundings of up to $5,500,000.00 ("Term Loan C") notwithstanding the existence of
the Pending Defaults; and

                  WHEREAS, GE Capital has agreed to fund Term Loan C subject to
the terms and conditions of this Amendment; and

                  WHEREAS, the Lenders other than GE Capital have consented to
the Term Loan C and the other terms and conditions of this Amendment, provided
that Term Loan C is fully subordinated, both in time of payment and right of
payment, to the repayment in full of all Obligations other than Term Loan C, and
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:

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                                    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.
As used herein, the following terms shall have the meanings set forth below:

                           (a) "Covenant Waiver Fee" shall mean $500,000. The
Covenant Waiver Fee has been fully earned on the Fourth Amendment Date and shall
be non-refundable when paid.

                           (b) "Availability Covenant" shall mean that
commencing November 30, 2000 and on the last day of each calendar month
thereafter, the sum of (i) the positive difference, if any, of the outstanding
balance of the aggregate Revolving Loan (Revolver A) less the Borrowing Base
(Revolver A) and (ii) the positive difference, if any, of the outstanding
balance of the aggregate Revolving Loan (Revolver B) less the Borrowing Base
(Revolver B), shall be not more than $13,563,000.

                           (c) "Material Default" shall mean (i) an Event of
Default as defined in Credit Agreement Section 8.1(h) or (i); (ii) an Event of
Default as defined in Credit Agreement Section 8.1(l) unless arising as a result
of the issuance to or the exercise by Term Loan C Lender of the GECC Warrant
Documents (defined below); (iii) failure to satisfy the Working Capital Covenant
or the Availability Covenant; (iv) any information contained in any Borrowing
Base Certificate delivered during the Forbearance Period is untrue or incorrect
in any material respect as of the date made; or (v) any other Event of Default
(other than the Pending Defaults) hereafter designated by all of the Lenders as
a Material Default.

                           (d) "Term Loan C Lender" shall mean General Electric
Capital Corporation.

                           (e) "Term Loan C Commitment" shall mean $5,500,000.

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                           (f) "Term Loan C Termination Date" shall mean
February 15, 2001 or such later date as may be agreed in writing between the
Credit Parties and Lenders.

                           (g) "Term Loan C Note" shall mean the promissory note
dated the Fourth Amendment Date and evidencing Term Loan C.

                           (h) "Working Capital Covenant" shall mean that
commencing November 30, 2000 and on the last day of each calendar month
thereafter, the Credit Parties shall have Working Capital of at least
$21,371,000.

                           (i) "Working Capital" shall mean the sum of total
Accounts Receivable and total Inventory Balance (both as shown on the Borrowing
Base Certificate for Revolver A), the Total Lease Value/calculated outstanding
balance (as shown on the Borrowing Base Certificate for Revolver B) and cash on
hand in the Collection Account (as shown on the bank statement), less
outstanding checks (as shown on the applicable check registries) and outstanding
trade payables (as shown on the ledger of trade payables).

                                    Article 2

                                   FORBEARANCE

         Section 2.1 Forbearance. Provided that no Material Default shall occur
and be continuing, the Agents and Lenders shall forbear from enforcing their
respective remedies for the period (the "Forbearance Period") beginning on the
date hereof and ending on the Term Loan C Termination Date. If at any time a
Material Default shall occur, 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 2 hereto shall
not constitute Material Defaults 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 and any
other Events of Default 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. During the Forbearance Period,
Lenders and Agents shall forbear from the exercise of any set-off rights with
respect to any funds contained in any of the Credit Parties' accounts. Lenders
and Agents are entering into this Amendment as an

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accommodation to the Credit Parties and the Credit Parties remain bound to
perform their respective obligations under the Loan Documents.

                                    Article 3

                         AMENDMENTS TO CREDIT AGREEMENT

         Section 3.1 Term C Loan. The following is hereby added as Credit
Agreement Section 1.1(i):

                  Subject to the terms and conditions hereof, each Term Loan C
                  Lender agrees to make a term loan from and after the Fourth
                  Amendment Date to Borrowers in the original principal amount
                  of its Term Loan C Commitment. In the event there is more than
                  one Term Loan C Lender, the obligations of each Term Loan C
                  Lender hereunder shall be several and not joint. Such Term
                  Loan shall be evidenced by promissory notes substantially in
                  the form of Exhibit 1.1(i) (each a "Term Loan C Note"), and
                  Borrowers shall execute and deliver a Term Loan C Note to each
                  Term Loan C Lender. Each Term Loan C Note shall represent the
                  obligations of Borrowers to pay the amount of the applicable
                  Term Loan C Lender's Term Loan C Commitment to Borrowers,
                  together with interest thereon as prescribed in Section 1.5.
                  Borrower shall pay the principal amount of the Term Loan C in
                  full on the earliest to occur of (A) the Term Loan C
                  Termination Date or (B) the date of refinancing the other
                  Loans.

         Section 3.2 Application of Prepayments. Credit Agreement Section 1.3(c)
is hereby amended to change the word "last" in the first sentence thereof to
"seventeenth" and to add the following to the end of such first sentence:

                  eighteenth, to interest then due and payable on the Term Loan
                  C and nineteenth, to the principal balance of the Term Loan C.

         Section 3.3 Use of Proceeds. The following is hereby added to the end
of Credit Agreement Section 1.4:

                  Borrowers shall utilize the proceeds of Term Loan C solely for
                  the following purposes: (i) on the Fourth Amendment Date, to
                  pay the Covenant Waiver Fee to the Term Loan C Lender, (ii) to
                  pay past due trade payables in the amounts and to the parties
                  agreed to in writing by Term Loan C Lender, in its sole and
                  absolute discretion, and Borrowers and (iii) to provide for
                  ongoing working capital purposes pursuant to and in accordance
                  with a budget (the "Working Capital Budget") prepared by
                  Borrowers and approved by the Term Loan C Lender in its sole
                  and

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                  absolute discretion. A copy of the approved Working Capital
                  Budget, as the same may be amended from time to time, shall be
                  delivered by Borrowers to the Lenders.

         Section 3.4 Interest and Applicable Margins. The following is hereby
added to the end of the first paragraph of Credit Agreement Section 1.5:

                  Term Loan C shall bear interest at a rate per annum of 15%.

         Section 3.5 Conditions Precedent to Term Loan C. The following is
hereby added as Credit Agreement Section 2.6.

                           (a) In addition to the other conditions precedent to
the making of any Loan pursuant to this Agreement, the Term Loan C Lender shall
have no obligation to advance any portion of Term Loan C until the following
additional conditions have been satisfied or provided for in a manner
satisfactory to Term Loan C Lender or waived in writing by Term Loan C Lender:

                                    (i) receipt by Term Loan C Lender of fully
executed counterparts of the Fourth Amendment, Term Loan C Note, opinions,
certificates, and other instruments and agreements, all in form and substance
satisfactory to Term Loan C Lender;

                                    (ii) with respect to any advance of Term
Loan C on or after January 10, 2001, the Credit Parties shall have delivered to
the Lenders a turnaround plan prepared by Grisanti, Galef and Goldress and shall
be implementing the same to the satisfaction of Term Loan C Lender;

                                    (iii) the Credit Parties shall, to the
satisfaction of Term Loan C Lender, continue to actively pursue the sale of the
architectural business and explore the sale of certain lease receivables,
including, without limitation, promptly engaging an investment bank satisfactory
to Lenders to assist the Credit Parties in such sale process;

                                    (iv) receipt by Term Loan C Lender of a
fully executed Securities Purchase Agreement (the "GECC SPA") and a Registration
Rights Agreement (the "GECC Registration Agreement") both in form substantially
similar to that executed in connection with the closing of the Credit Agreement
and pursuant to which GE Capital shall be issued warrants representing 45% of
the common stock of Borrower on a fully diluted basis at an exercise price of
one cent per share; and

                                    (v) issuance of the warrants required
pursuant to the GECC SPA (the "GECC Warrants"), together with such opinions,
certificates and related

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documents as GE Capital shall require (the warrants, GECC SPA and GECC
Registration Agreement being collectively the "GECC Warrant Documents").

                           (b) Notwithstanding any provision or reference to the
contrary in Credit Agreement Section 2.2 or elsewhere, the satisfaction or
waiver of any condition precedent to an advance of Term Loan C shall be at the
sole discretion of Term Loan C Lender.

         Section 3.6 Term Loan C Note. The Credit Agreement is hereby amended to
add as Exhibit 1.1(i) the form of promissory note attached to this Fourth
Amendment as Exhibit A.

         Section 3.7 Additional Covenants. The Credit Parties covenant to comply
with the Working Capital Covenant and the Availability Covenant. Commencing
December 14, 2000 and on the 14th day of each month thereafter, the Credit
Parties shall deliver to the Lenders a Borrowing Base Certificate substantially
in the form of Exhibit A hereto with respect to the previous month.

         Section 3.8 No Other Advances. Except for advances of Term Loan C, 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 3.9 Interest and Principal Payments. The Lenders hereby agree
that during the Forbearance Period, all interest payments due with respect to
the Loans shall accrue and any principal payments due with respect to the Loans
shall be deferred. All such accrued and deferred payments shall be payable at
the expiration of the Forbearance Period.

         Section 3.10 Subordinated Payments. The Term Loan C Lender acknowledges
and agrees that Term Loan C is fully subordinated, both in time of payment and
right of payment, to the repayment in full of all Obligations other than Term
Loan C.

         Section 3.11 GECC Warrant Documents. The Lenders consent to the GECC
Warrant Documents and the exercise by GE Capital of its rights contained therein
and agree that neither the issuance of the GECC Warrants or the issuance of
shares of Hi-Rise's Common Stock upon exercise thereof shall constitute an Event
of Default under the Credit Agreement. Notwithstanding the provisions of the
Credit Agreement, the Securities Purchase Agreement dated as of October 28, 1998
among Hi-Rise, GE Capital, NationsBank (predecessor in interest to BOA) and KCCI
or the Warrants (as defined

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therein and as used herein, the "Lender Warrants"), the Lenders hereby waive any
default under the Credit Agreement or any optional redemption rights with
respect to the Lender Warrants or the securities issuable upon exercise thereof
that may arise as a result of the issuance of the GECC Warrants or the exercise
thereof. The rights of GE Capital, on the one hand, and BOA and KCCI on the
other, with respect to the registration rights in the respective Registration
Rights Agreements entered into with respect to the Lender Warrants and the
Warrant (as defined in the GECC SPA) shall be pro rata based on the numbers of
shares attributable to each Warrant.

         Section 3.12 Securities Issues. Hi-Rise has been advised that it is
subject to de-listing by Nasdaq as a result of the failure to maintain a minimum
bid price of $1.00. In addition, the issuance of the GECC Warrants could result
in de-listing by Nasdaq. The Lenders agree that any de-listing of Hi-Rise from
Nasdaq shall not constitute an Event of Default.

         Section 3.13 Certain Definitions.

                  3.13.1 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.

                  3.13.2 The definition of "Loan Documents" is hereby amended to
include the Credit Agreement, as amended by this Amendment, the Term Loan C
Note, the GECC Warrant Documents 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. The
definition of "Lenders" shall include the Term Loan C Lender. The definition of
"Loan" shall include the Term Loan C. The definition of "Notes" shall include
the Term Loan C Note.

                                    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 thereto from time to time.

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         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 Term Loan C and each of the Notes, as
the same may be consolidated, 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, advances of
the Term Loan C 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 herein or in another written
agreement executed by all of the parties to this Amendment. In addition, except
as expressly provided in this Amendment, none of this Amendment, advances of
Term Loan C 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

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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 advances of Term Loan C) from
the time of the Pending Defaults or the date of any advance of Term Loan C, as
applicable.

         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 case 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 the Business, prospects or financial condition of the Credit Parties,
or any of them.

                                    Article 6

                              Additional Covenants

         Section 6.1 Waiver of the Automatic Stay.

                  6.1.1 The Credit Parties hereby agree that, in consideration
for the Term Loan C 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

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

                  6.1.2 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 6.2 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

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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 consultation with legal, financial and other counsel of their
choosing. Each Borrower and Subsidiary Guarantor has individually read this
Amendment and has discussed this Amendment with its 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 constitute 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.

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         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 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.

                                       13
<PAGE>

         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 Term
Loan C 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 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

                                       14
<PAGE>

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 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]

                                       15
<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: CEO

                           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

                                       16
<PAGE>

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

                           By:      /s/ Patrick Flynn
                              --------------------------------
                                    Name: Patrick Flynn
                                    Title: Risk Manager

                           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

                                       17
<PAGE>

                                 Exhibit 1.1(i)

                                 Term Loan Note

                          PROMISSORY NOTE (TERM LOAN C)

                                                              New York, New York
Dated as of December 4, 2000                                       $5,500,000.00

                  FOR VALUE RECEIVED, the undersigned, 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"), HEREBY JOINTLY AND SEVERALLY PROMISE TO PAY to
the order of GENERAL ELECTRIC CAPITAL CORPORATION ("Lender"), at the offices of
GE Capital Corporation Capital Funding Inc, 401 Merritt Seven, 2nd Floor,
Norwalk CT 06856, or at such other place as Lender may designate from time to
time in writing, in lawful money of the United States of America and in
immediately available funds, the amount of FIVE MILLION FIVE HUNDRED THOUSAND
AND NO/100 AND NO CENTS ($5,500,000.00) or, if less, the aggregate unpaid amount
of all advances of the Term Loan C made to the undersigned under the "Credit
Agreement" (as hereinafter defined). All capitalized terms used but not
otherwise defined herein have the meanings given to them in the Credit Agreement
or in Annex A thereto.

         This Promissory Note (Term Loan C) is issued pursuant to that certain
Credit Agreement dated as of October 28, 1998, by and among Borrowers, General
Electric Capital Corporation, Bank of America, N.A., successor in interest to
NationsBank, N.A., Key Corporate Capital, Inc. and the other Persons signatory
thereto from time to time as Lenders, General Electric Capital Corporation, as
Administrative Agent and Revolver Agent (including all annexes, exhibits and
schedules thereto, and as from time to time amended, restated, supplemented or
otherwise modified, the "Credit Agreement"), and is entitled to the benefit and
security of the Credit Agreement, the Security Agreement and all of the other
Loan Documents referred to therein. Reference is hereby made to the Credit
Agreement for a Statement of all of the terms and conditions under which the
Loans evidenced hereby are made and are to be repaid. The date and amount of
each

                                       18
<PAGE>

advance made by Lender to Borrowers, the rates of interest applicable thereto
and each payment made on account of the principal thereof, shall be recorded by
Lender on its books; provided that the failure of Lender to make any such
recordation shall not affect the obligations of Borrowers to make a payment when
due of any amount owing under the Credit Agreement or this Note in respect of
Term Loan C made by Lender to Borrowers.

         The principal amount of the indebtedness evidenced hereby shall be
payable in the amounts and on the dates specified in the Credit Agreement, the
terms of which are hereby incorporated herein by reference. Interest thereon
shall be paid until such principal amount is paid in full at such interest rates
and at such times, pursuant to such calculations, as are specified in the Credit
Agreement.

         If any payment on this Promissory Note (Term Loan C) becomes due and
payable on a day other than a Business Day, the maturity thereof shall be
extended to the next succeeding Business Day and, with respect to payments of
principal, interest thereon shall be payable at the then applicable rate during
such extension.

         Upon and after the occurrence of any Event of Default, this Promissory
Note (Term Loan C) may, as provided in the Credit Agreement, and without demand,
notice or legal process of any kind, be declared, and immediately shall become,
due and payable.

         Time is of the essence of this Promissory Note (Term Loan C). Demand,
presentment, protest and notice of nonpayment and protest are hereby waived by
each Borrower.

         Except as provided in the Credit Agreement, this Promissory Note (Term
Loan C) may not be assigned by Lender to any Person.

         THIS PROMISSORY NOTE (TERM LOAN C) SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS
MADE AND PERFORMED IN THAT STATE.

                                       19
<PAGE>

         IN WITNESS WHEREOF, the undersigned Borrowers have caused this
Promissory Note (Term Loan C) to be duly executed and delivered this 4th day of
December, 2000.

                           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
                           BES-PAC, INC., formerly known as BPI
                           ACQUISITION CORP., a South Carolina
                           corporation
                           DII ACQUISITION CORP., a Connecticut
                           corporation

                           By:      ____________________________________________
                                    Name:
                                    Title

                                       20
<PAGE>

STATE OF                   )
                           ) ss.
COUNTY OF                  )

         The foregoing instrument was acknowledged before me this _____ day of
___________, 2000 by ________________________________, 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, BES-PAC, INC., formerly known as 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. He is personally known to me or presented
_____________________________ as identification.

                           _____________________________________________________
                           Print Name:__________________________________________
                           NOTARY PUBLIC
                           Commission Number:___________________________________
                           My Commission Expires:

         (Notarial Seal)

                                       21
<PAGE>

                                    EXHIBIT A

                           BORROWING BASE CERTIFICATE

                               Dated:____________

                With respect to the month ending _______________

Pursuant to the Credit Agreement, dated as of October 28, 1998, (as amended, the
"Credit Agreement"), among Hi-Rise Recycling Systems, Inc., IDC Acquisition Sub,
Inc., Wilkinson Company, Inc., Recycltech Enterprises Inc., Hesco Sales, Inc.,
United Truck and Body Corporation, Hesco Export Corporation, Bes-Pac, Inc., DII
Acquisition Corp., Acme Chute Company, Inc., DeVivo Industries, Inc., Ecological
Technologies, Inc., KE Corporation, and American Gooseneck, Inc., General
Electric Capital Corporation, Bank of America, N.A., successor in interest to
NationsBank, N.A. and Key Corporate Capital, Inc., the other Lenders signatory
thereto from time to time, General Electric Capital Corporation, as
Administrative Agent for the Lenders ("Administrative Agent"), and Bank of
America, N.A., as Revolver Agent for the Lenders ("Revolver Agent" and, together
with Administrative Agent, "Agents"), the undersigned Borrower Representative
certifies for itself and each of the other Credit Parties that as of the close
of business on the date set forth below, the Borrowing Base (Revolver A),
Borrowing Base (Revolver B), Working Capital Covenant and Availability Covenant
are computed as set forth on the attached Schedules to this Certificate.
Capitalized terms defined in the Credit Agreement are used in this Certificate
as so defined.

The undersigned represents and warrants for itself and each of the other Credit
Parties that this Borrowing Base Certificate is a true and correct statement of,
and that the information contained herein is true and correct in all material
respects regarding, the status of all amounts reflected herein. The undersigned
further represents and warrants for itself and each of the other Credit Parties
that there is no Material Default or other Event of Default (other than Pending
Defaults) and all representations and warranties contained in the Credit
Agreement and other Loan Documents are true and correct as of the date of this
Borrowing Certificate, except to the extent that such representations or
warranties expressly relate to an earlier date, except for changes therein
expressly permitted or contemplated by the Credit Agreement or any other Loan
Document and except as previously disclosed in Schedule 2 to the Fourth
Amendment. The undersigned understands that the Lenders will continue
forbearance based on the information contained herein and additional funds lent
by Term Loan C Lender is based on the information contained herein.

                                       22
<PAGE>

IN WITNESS WHEREOF, the undersigned Borrower Representative has duly executed
and delivered this Borrowing Base Certificate on behalf of itself and each of
the other Credit Parties as of the date first above written.

                           HI-RISE RECYCLING SYSTEMS, INC.
                           a Florida corporation

                           By:  ________________________________________________
                           Name:
                           Title:

                                       23
<PAGE>

                                   SCHEDULE 1

                          CURRENT OUTSTANDING BALANCES
                            (as of November 30, 2000)

Revolving Notes (Revolver A) including               $18,469,423.28
         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

Term Note C                                          $0.00

Acquisition Loan Notes                               $14,372,005.70

                                       24
<PAGE>

                                   SCHEDULE 2

                               POTENTIAL DEFAULTS

                       CREDIT PARTIES DISCLOSURE SCHEDULE

                          Dated as of December 4, 2000

         In connection with the Fourth Amendment to Credit Agreement and
Composite Amendment Agreement, dated as of the Fourth Amendment Date (the
"Fourth 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 Fourth Amendment prepared by the Credit Parties.
Capitalized terms not otherwise defined herein but defined in the Fourth
Amendment shall have the meaning set forth in the Fourth 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 Fourth Amendment.

                                       25
<PAGE>

                                   Schedule 2

Representations and Warranties and Litigation

The representations and warranties contained in Sections 3.13, 3.17 and 3.21 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.

Morse Diesel International, Inc. v. Mirage on the Gulf, Ltd., et. al, Case No.
00-36-3061CA, Collier County, Florida Circuit Court

Hi-Rise is named as a defendant in this case. Morse Diesel, the general
contractor, is suing the owner, Mirage, for non-payment of the sums due under
the general contract. Hi-Rise has filed a claim of lien against the subject
property. Morse Diesel alleges that Morse Diesel's interests are superior to the
lien held by Hi-Rise and seeks to foreclose the Hi-Rise lien. An amended
complaint was served on Hi-Rise on November 14, 2000.

                                       26
<PAGE>

Lawson Steel, Inc. v. Hi-Rise Recycling Systems, Inc. and DeVivo Industries,
Case No. 00-29876 CA24, Miami-Dade County, Florida Circuit Court

Lawson Steel filed suit on November 14, 2000 alleging non-payment of $58,396.87.
[Note: The previous suit filed by Lawson Steel in federal court was voluntarily
dismissed without prejudice. Lawson Steel then re-filed in state court.]

Reliance MetalCenter v. Hi-Rise Recycling Systems, Inc., United States District
Court, Southern District of Florida, Case No. 00-14293-CIV-Paine/Lynch

Reliance filed suit on October 2, 2000 alleging non-payment of $364,536.05 for
metal products previously delivered to Hi-Rise and AG Products, Inc.

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

The Pending Defaults, the litigation and environmental matters described above
could have a Material Adverse Effect.

                                       27
<PAGE>

Covenants

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 timely 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.
         The Credit Parties have now supplied to Lenders the information that
         would have been required to have been so disclosed.

         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.

                                       28EXHIBIT 10.61

                          SECURITIES PURCHASE AGREEMENT

                                  BY AND AMONG

                         HI-RISE RECYCLING SYSTEMS, INC.

                                       AND

                      GENERAL ELECTRIC CAPITAL CORPORATION
                        NATIONSBANK, NATIONAL ASSOCIATION
                           KEY CORPORATE CAPITAL INC.

                                   DATED AS OF

                                December 4, 2000

<PAGE>
<TABLE>
<CAPTION>

                                TABLE OF CONTENTS
<S>               <C>                                                                                            <C>
ARTICLE I
                  ISSUANCE AND SALE OF THE SECURITIES.............................................................1
                  1.1      Securities Purchase....................................................................1
                  1.2      Closing Transactions...................................................................1
ARTICLE II
                  CONDITIONS TO CLOSING...........................................................................2
                  2.1      Conditions to the Purchasers' Obligations..............................................2
                  2.2      Conditions to the Company's Obligations................................................3
ARTICLE III
                  REPRESENTATIONS AND WARRANTIES OF THE COMPANY...................................................3
                  3.1      Authorization of Transactions..........................................................4
                  3.2      Capitalization.........................................................................4
                  3.3      Absence of Conflicts...................................................................5
                  3.4      Exemption from Registration; Restrictions on Offer and Sale of Same or
                           Similar Securities.....................................................................5
ARTICLE IV
                  REPRESENTATIONS AND WARRANTIES OF THE PURCHASERS................................................6
                  4.1      Organization and Power.................................................................6
                  4.2      Authorization..........................................................................6
                  4.3      Absence of Conflicts...................................................................6
ARTICLE V
                  ADDITIONAL AGREEMENTS...........................................................................7
                  5.1      Survival...............................................................................7
                  5.2      Indemnification........................................................................7
                  5.4      Press Releases and Announcements.......................................................8
                  5.5      Further Transfers......................................................................8
                  5.6      Specific Performance...................................................................8
                  5.7      Transfer of Securities.................................................................9
                           (a)      General Provisions............................................................9
                           (b)      Opinion Delivery..............................................................9
                           (c)      Rule 144A.....................................................................9
                           (d)      Removal of Legend.............................................................9
ARTICLE VI
                  DEFINITIONS....................................................................................10
ARTICLE VII
                  MISCELLANEOUS..................................................................................11
                  7.1      Amendment and Waiver..................................................................11
                  7.2      Notices...............................................................................11
                  7.3      Binding Agreement; Assignment.........................................................12
                  7.4      Severability..........................................................................12

                                        i
<PAGE>

                  7.5      No Strict Construction................................................................12
                  7.6      Headings; Interpretation..............................................................12
                  7.7      Entire Agreement......................................................................12
                  7.8      Counterparts..........................................................................13
                  7.9      Governing Law.........................................................................13
                  7.10     Parties in Interest...................................................................13
</TABLE>
EXHIBITS

Exhibit A    -  Form of Warrant
Exhibit B    -  Form of Registration Rights Agreement

LIST OF ANNEXES AND SCHEDULES

Annex I        - Purchasers
Annex II       - Purchasers' Warrants
Annex III      - Notice
Schedule 3.2   - Capitalization Schedule
Schedule 3.3   - Conflicts Schedule

                                       ii
<PAGE>

                          SECURITIES PURCHASE AGREEMENT

         SECURITIES PURCHASE AGREEMENT (this "Agreement") is made as of December
4, 2000 by and among Hi-Rise Recycling Systems, Inc., a Florida corporation (the
"Company"), and the Persons set forth on Annex I attached hereto (collectively,
the "Purchasers" and each a "Purchaser"). Except as otherwise indicated herein,
capitalized terms used herein are defined in Article VI hereof.

         Subject to the terms and conditions set forth herein, the Purchasers
desire to purchase from the Company, and the Company desires to issue to each
Purchaser, a warrant to purchase at any time after the Closing Date a number of
shares of the Company's common stock, par value $0.01 per share (the "Common
Stock") as set forth opposite such Purchaser's name on Annex II attached hereto
(each a "Warrant" and collectively, the "Warrants") under the circumstances as
described herein. The Underlying Common Stock and the Warrants are sometimes
referred to herein as the "Securities."

         In consideration of the mutual promises, representations, warranties,
covenants and conditions set forth in this Agreement, the parties hereto agree
as follows:

                                    ARTICLE I

                       ISSUANCE AND SALE OF THE SECURITIES

         1.1 SECURITIES PURCHASE. On the terms and subject to the conditions of
this Agreement:

         (a) At the Closing, the Company shall issue and sell to each Purchaser
its Warrant, which shall be substantially in the form of EXHIBIT A attached
hereto. The purchase price of each Warrant shall be $10.00.

         (b) In the event that during the period commencing on the date hereof
through and including the Commitment Termination Date (Acquisition Loan) (as
defined in the Credit Agreement), the Company engages in any business
combination transaction whether by way of stock purchase, merger, asset purchase
or otherwise (an "Acquisition"), immediately upon the consummation of each
Acquisition, the Company shall issue and sell to each Purchaser a warrant (the
"Additional Warrants") to purchase a number of shares of Common Stock which
together with all of the other Additional Warrants to be issued to the other
Purchasers pursuant to this Section 1.1 (b) equals to 8%of any Common Stock
issued or issuable pursuant to any rights, warrants or options to subscribe or
purchase Common Stock or convertible securities of the Company issued pursuant
to such Acquisition for an exercise price per share equal to the effective per
share value of the, Common Stock so issued or issuable in such Acquisition. The
purchase price for each Additional Warrant shall be $10.00. Any Additional
Warrants granted shall be exercisable in whole or in part at any time from the
date of such issuance through and including the 10th anniversary of the Closing
Date (as hereinafter defined). The Additional Warrants shall be in substantially
the same form as the Warrants, except as otherwise set forth in this Section 1.1
(b) and that Section 2A thereof shall be omitted.

<PAGE>

         1.2 CLOSING TRANSACTIONS.

         (a) CLOSING. The closing of the transactions contemplated by this
Agreement (the "Closing") will take place at the offices of Olshan Grundman
Frome & Rosenzweig LLP, 505 Park Avenue, New York, New York 10022 at 10:00 a.m.
(so long as all conditions to the obligations of the parties to consummate the
transactions contemplated hereby have been satisfied or waived) on the date of
closing of the Financing (as defined below), or at such other time and location
as is mutually agreed upon by the Company and the Purchasers. The date and time
of the Closing are herein referred to as the "Closing Date."

         (b) TRANSFERS. Subject to the conditions set forth in this Agreement,
at the Closing Date, the Company shall issue and deliver to each Purchaser, its
Warrant duly registered in the name of such Purchaser or its nominee against
payment by such Purchaser of $10.00 (the foregoing is collectively referred to
hereinafter as the "Closing Transaction"). Payment of the purchase price for the
Warrants shall be made by check.

                                   ARTICLE II

                              CONDITIONS TO CLOSING

         2.1 CONDITIONS TO THE PURCHASERS' OBLIGATIONS. The obligations of the
Purchasers to consummate the transactions contemplated by this Agreement are
subject to the satisfaction of the following conditions on or before the Closing
Date:

         (a) the representations and warranties set forth herein or incorporated
by reference in Article III hereof and in any writing delivered by the Company
pursuant hereto will be true and correct in all material respects at and as of
the Closing Date;

         (b) the Company will have performed and complied in all material
respects with each of the covenants and agreements required to be performed by
it under this Agreement and the agreements and documents attached hereto as
Exhibits prior to the Closing;

         (c) the Company and the Purchasers shall have entered into a
registration rights agreement with respect to the Underlying Common Stock (the
"Registration Rights Agreement") substantially in the form set forth in EXHIBIT
B attached hereto;

         (d) each of the conditions which are required to be satisfied pursuant
to Section 2 of that certain Credit Agreement, dated as of the date hereof (the
"Credit Agreement"), among the Company, the other parties named as Borrowers
thereto, General Electric Capital Corporation ("GE Capital"), NationsBank,
National Association ("NationsBank"), and Key Corporate Capital Inc. ("Key") (GE
Capital, NationsBank and Key, collectively referred to as the "Lenders") and the
other parties which may from time to time be Lenders thereunder, and GE Capital,
as Administrative Agent, and NationsBank, as Revolver Agent);

         (e) the Purchasers shall have received an opinion, dated the Closing
Date, of counsel to the Company, which counsel is experienced in transactions of
the type contemplated hereby and in the form and substance reasonably
satisfactory to the Purchasers;

                                      - 2 -
<PAGE>

         (f) all proceedings to be taken by the Company in connection with the
consummation of the Closing Transaction and the other transactions contemplated
hereby and all certificates, opinions, instruments and other documents,
including customary representations, warranties, covenants, conditions and
remedies for breach, required to be delivered by the Company in accordance with
the Credit Agreement;

         (g) all consents and waivers by third parties that are required for the
consummation of the transactions contemplated hereby and the performance of the
Company's obligations set forth in the Warrant and the Registration Rights
Agreement shall have been obtained other than those the failure of which to be
obtained would not have a Material Adverse Effect on or which would not
adversely affect the performance of such obligations; and

         (h) all governmental filings, authorizations and approvals that are
required for the consummation of the transactions contemplated hereby, if any,
will have been duly made and obtained and all waiting periods will have expired
on terms reasonably satisfactory to the Purchasers other than those filings,
authorizations or approvals the absence of which would not, individually or in
the aggregate, have a Material Adverse Effect or adverse effect on the
performance of obligations under the Warrant and the Registration Rights
Agreement.

         Any condition to the obligations of the Purchasers specified in this
Section 2.1 may be waived in writing by the Purchasers.

         2.2 CONDITIONS TO THE COMPANY'S OBLIGATIONS. The obligation of the
Company to consummate the transactions contemplated by this Agreement is subject
to the satisfaction of the following conditions on or before the Closing Date:

         (a) the representations and warranties set forth in Article IV hereof
and in any writing delivered by the Purchasers pursuant hereto will be true and
correct in all material respects at and as of the Closing Date;

         (b) each of the Purchasers will have performed and complied in all
material respects with all of the covenants and agreements required to be
performed by it under this Agreement prior to the Closing;

         (c) all consents and waivers by third parties that are required for the
consummation of the transactions contemplated hereby and the performance of the
Company's obligations set forth in the Warrant and the Registration Rights
Agreement shall have been obtained other than those the failure of which to be
obtained would not have a Material Adverse Effect on or which would not
adversely affect the performance of such obligations; and

         (d) all governmental filings, authorizations and approvals that are
required for the consummation of the transactions contemplated hereby, if any,
will have been duly made and obtained and all waiting periods will have expired
on terms reasonably satisfactory to the Company other than those filings,
authorizations or approvals the absence of which would not, individually or in
the aggregate, have a Material Adverse Effect.

         The conditions specified in this Section 2.2 may be waived in writing
by the Company.

                                      - 3 -

<PAGE>

                                   ARTICLE III

                  REPRESENTATIONS AND WARRANTIES OF THE COMPANY

         As a material inducement to the Purchasers to enter into this
Agreement, the Company hereby makes each and every one of the representations
and warranties of the Company and each of the Borrowers which are set forth in
the Credit Agreement and the other Loan Documents, including without limitation,
Section 3 of the Credit Agreement, all of which are incorporated herein by this
reference and are hereby made a part hereof as though such representations and
warranties were set forth herein in full. In addition, the Company hereby
represents and warrants to the Purchasers that:

         3.1 AUTHORIZATION OF TRANSACTIONS. The Company has full corporate power
and authority to execute and deliver this Agreement, the agreements and
documents attached hereto as Exhibits and the other agreements and documents
contemplated hereby. The Board of Directors has duly approved this Agreement and
has duly authorized the execution and delivery of this Agreement, the agreements
and documents attached hereto as Exhibits and the other agreements and documents
contemplated hereby and the consummation of the transactions contemplated hereby
and thereby. No other corporate proceedings on the part of the Company are
necessary, or are required by the rules of the NASDAQ Stock Market to approve
and authorize the execution and delivery of this Agreement, the agreements and
documents attached hereto as Exhibits and the other agreements and documents
contemplated hereby and the consummation of the transactions contemplated hereby
and thereby. This Agreement, the Warrant and the Registration Rights Agreement,
and documents attached hereto as Exhibits and the other agreements and documents
contemplated hereby have been duly executed and delivered by the Company and
constitute valid and binding agreements of the Company, enforceable against the
Company in accordance with their terms.

         3.2 CAPITALIZATION. (a) The authorized, issued and outstanding capital
stock of the Company is as set forth on SCHEDULE 3.2. All of the issued and
outstanding shares of capital stock of the Company have been duly authorized,
are validly issued, fully paid and nonassessable, are not subject to, nor were
they issued in violation of, any preemptive rights. Except as set forth on
SCHEDULE 3.2, or as disclosed in the Credit Agreement, there are no outstanding
or authorized securities with profit participating features or profit interests,
or options, warrants, registration rights, rights or other agreements or
commitments to which the Company is a party or which are binding upon the
Company providing for the issuance, disposition, registration or acquisition of
any of its capital stock or any such securities or interests (collectively
"Options")(other than this Agreement). Except as set forth on SCHEDULE 3.2,
there are no outstanding or authorized stock appreciation, phantom stock or
similar rights with respect to the Company. Except as set forth on SCHEDULE 3.2
or as contemplated herein, there are no voting trusts, proxies or any other
agreements or understandings with respect to the voting of the capital stock of
the Company. Except as set forth on SCHEDULE 3.2 or as contemplated herein, the
Company is not subject to any obligation (contingent or otherwise) to repurchase
or otherwise acquire or retire any shares of its capital stock or any Options.

         (b) Since June 30, 1998, except as set forth on SCHEDULE 3.2, or as
disclosed in the Credit Agreement, or as contemplated herein, the Company has
not issued, sold or transferred any notes, bonds or other debt securities
(except, in the case of the Company, the issuance of the notes and borrowings
pursuant to the Financing) or any equity securities, securities convertible,

                                      - 4 -

<PAGE>

exchangeable or exercisable into equity securities, or warrants, options or
other rights to acquire equity securities, of the Company or any of the
Subsidiaries.

         (c) Upon the issuance and delivery of the Warrants in accordance with
this Agreement, (i) each Warrant will be a valid and binding agreement of the
Company, and enforceable against the Company in accordance with its terms; and
(ii) the Purchasers will acquire, subject to the restrictions of this Agreement
and the federal and state securities laws, good, valid and marketable title to
the Warrants, free and clear of all liens, claims, preemptive rights, options,
warrants, rights, commitments, charges, encumbrances, equities, proxies or
voting or other agreements whatsoever.

         (d) Upon the issuance and delivery of the Underlying Common Stock in
accordance with the Warrants, (i) the Underlying Common Stock will be duly
authorized, validly issued, fully paid and nonassessable; and (ii) the
Purchasers will acquire, subject to the restrictions of the Warrants and the
federal and state securities laws, good, valid and marketable title to the
Underlying Common Stock, free and clear of all liens, claims, preemptive rights,
options, warrants, rights, commitments, charges, encumbrances, equities, proxies
or voting or other agreements whatsoever.

         (e) The registration rights granted to each of the Purchasers pursuant
to the Registration Rights Agreement are not subordinate to any other
registration rights granted by the Company to any other Person.

         3.3 ABSENCE OF CONFLICTS. Except as set forth on SCHEDULE 3.3, the
execution, delivery and performance of this Agreement, the Warrant and the
Registration Rights Agreement, and the consummation of the transactions
contemplated hereby and thereby do not and will not (a) conflict with or result
in a breach of any of the provisions of, (b) constitute a default under, (c)
result in a violation of, (d) give any third party the right to terminate or to
accelerate any obligation under, (e) result in the creation of any lien,
security interest, charge or encumbrance upon the Common Stock or (f) require
any authorization, consent, approval, exemption or other action by or notice to
any court or other governmental body, under the provisions of the articles of
incorporation or bylaws of the Company or any of the Subsidiaries or any
indenture, mortgage, lease, license, loan agreement or other agreement or
instrument to which the Company or any of the Subsidiaries is bound or affected,
or any law, statute, rule or regulation or any judgment, order or decree to
which the Company or any of the Subsidiaries is subject.

         3.4 EXEMPTION FROM REGISTRATION; RESTRICTIONS ON OFFER AND SALE OF SAME
OR SIMILAR SECURITIES. The offer and sale of the Securities made pursuant to
this Agreement will be exempt from the registration requirements of the
Securities Act. Neither the Company nor any Person acting on its behalf has, in
connection with the offering of the Securities, engaged in (A) any form of
general solicitation or general advertising (as those terms are used within the
meaning of Rule 502(c) under the Securities Act), (B) any action involving a
public offering within the meaning of Section 4(2) of the Securities Act, or (C)
any action that would require the registration under the Securities Act of the
offering and sale of the Securities pursuant to this Agreement or that would
violate applicable state securities or "blue sky" laws. The Company has not made
and will not prior to the Closing make, directly or indirectly, any offer or
sale of the Securities or of securities of the same or a similar class as the
Securities if as a result the offer and sale of the Securities contemplated
hereby could fail to be entitled to exemption from the registration requirements
of the Securities Act. As used herein, the terms "offer" and "sale" have the
meanings specified in Section 2(c) of the Securities Act.

                                      - 5 -

<PAGE>

         3.5 WARRANTS. The Warrants purchased pursuant to this Agreement
collectively equal eight percent (8%) of the Fully Diluted Common Stock of the
Company. For the purpose hereof, "Fully Diluted Common Stock" shall mean the
aggregate of all outstanding Common Stock as of the date hereof, 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 as of the date hereof.

         3.6 REPRESENTATIONS AND WARRANTIES. The representations and warranties
contained in this Article III and made by the Company elsewhere in this
agreement are true and correct in all respects on the date of this Agreement
unless waived by the Purchasers.

                                   ARTICLE IV

                REPRESENTATIONS AND WARRANTIES OF THE PURCHASERS

         As a material inducement to the Company to enter into this Agreement,
each Purchaser hereby represents and warrants for itself to the Company that:

         4.1 ORGANIZATION AND POWER. Such Purchaser is a corporation duly
organized, validly existing and in good standing under the laws of its
jurisdiction of incorporation or a national bank duly licensed by the Office of
the Comptroller of the Currency and its charter has not been revoked, as the
case may be, with full corporate or other power, as the case may be, and
authority to enter into this Agreement and perform its obligations hereunder.

         4.2 AUTHORIZATION. The execution, delivery and performance of this
Agreement by such Purchaser and the consummation of the transactions
contemplated hereby have been duly and validly authorized by all requisite
corporate or other action, as the case may be, on the part of such Purchaser,
and no other corporate or other proceedings, as the case may be, on its part are
necessary to authorize the execution, delivery or performance of this Agreement.
This Agreement constitutes a valid and binding obligation of such Purchaser,
enforceable against such Purchaser in accordance with its terms.

         4.3 ABSENCE OF CONFLICTS. The execution, delivery and performance of
this Agreement and the consummation of the transactions contemplated hereby do
not and will not (a) conflict with or result in a breach of any of the
provisions of, (b) constitute a default under, (c) result in a violation of, or
(d) require any authorization, consent, approval, exemption or other action by
or notice to any court or other governmental body, under the provisions of the
certificate of incorporation, bylaws or articles of association, as the case may
be, of such Purchaser or any agreement or instrument to which such Purchaser is
bound or affected, or any applicable law, statute, rule or regulation or any
judgment, order or decree to which such Purchaser is subject.

         4.4 REPRESENTATIONS AND WARRANTIES. The representations and warranties
contained in this Article IV and made by such Purchasers elsewhere in this
Agreement are true and correct in all respects on the date of this Agreement
unless waived by the Company.

                                    ARTICLE V

                              ADDITIONAL AGREEMENTS

                                      - 6 -

<PAGE>

         5.1 SURVIVAL. Notwithstanding any examination made for or on behalf of
the Purchasers, the knowledge of any of their respective officers, directors,
stockholders, employees or agents, or the acceptance of any certificate or
opinion, all representations, warranties, covenants and agreements set forth in
this Agreement or in any writing delivered in connection with this Agreement
shall survive the Closing and, subject to the provisions of the following
sentence, shall be fully effective and enforceable and shall survive until the
later of (i) the full satisfaction of all obligations and liabilities of the
Company and the other Borrowers, and each of them, under the Credit Agreement
and the other Loan Documents and the termination in full of all obligations of
the Lenders to extend credit to the Borrowers, or any of them, and (ii) the
termination of their respective statute of limitations applicable thereto.

         5.2 INDEMNIFICATION. (a) The Company agrees to indemnify and hold
harmless each of the Purchasers, including each of their respective Affiliates,
and the directors, officers, agents, employees, accountants and attorneys
thereof (each of the Purchasers and each such other Person, an "Indemnified
Party") from and against any losses, claims, damages, judgments, assessments,
costs and other liabilities (collectively "Liabilities"), and will reimburse
each Indemnified Party for all fees and expenses (including the reasonable fees
and expenses of outside counsel) (collectively, "Expenses") as they are incurred
in investigating, preparing or defending any claim, action, proceeding or
investigation, whether or not in connection with pending or threatened
litigation or arbitration and whether or not any Indemnified Party is a party
thereto (collectively, "Actions"), arising out of (i) any material breach of any
of the representations or warranties made by the Company in this Agreement or
any of the agreements or certificates, documents or other writings contemplated
hereby or delivered in connection herewith, (ii) any breach or violation of or
failure to fully perform any material covenant, agreement or obligation of the
Company in this Agreement or any of the agreements contemplated hereby, or (iii)
any Action by any third party arising out of or in connection with the
transactions contemplated by this Agreement or any Indemnified Party's actions
or inactions in connection with any such transactions, PROVIDED, HOWEVER, that
the Company shall not indemnify any Indemnified Party from Liabilities or
reimburse Expenses incurred by such party to the extent they arise out of the
willful misconduct, gross negligence or bad faith (as finally determined by a
court of competent jurisdiction) of such party. The Company shall not, in
connection with any one such Action or separate but substantially similar or
related Actions in the same jurisdiction arising out of the same general
allegations or circumstances, be liable for the reasonable fees and expenses of
more than one separate firm of attorneys (and any appropriate local counsel) for
all of the Indemnified Parties, unless in the reasonable judgment of counsel for
an Indemnified Party a conflict of interest exists between an Indemnified Party
and another Indemnified Party such that it is inappropriate or unadvisable for
both such Indemnified Parties to be represented by one counsel in such matter.
If multiple claims are brought against an Indemnified Party (including in an
arbitration), with respect to at least one of which indemnification is permitted
under applicable law and provided for under this Agreement, the Company agrees
that any award shall be conclusively deemed to be based on claims as to which
indemnification is permitted and provided for, except to the extent the award
expressly states that the award, or any portion thereof, is based solely on a
claim as to which indemnification is not available.

         (b) The indemnification provisions of this Section 5.2 are in addition
to, and not in derogation of, any statutory or common law remedy any party may
have for misrepresentation, breach of warranty or breach of covenant.

                                      - 7 -

<PAGE>

         5.3 BOARD OF DIRECTORS. The Company agrees that the Purchasers shall
have the right to designate a single representative to attend and observe all
meetings of the Board of Directors. The Purchasers hereby agree that the initial
representative shall be a representative appointed by GE Capital. The Purchasers
shall be entitled by the consent of the Purchaser holding a majority of
Underlying Common Stock to appoint a replacement representative by advising the
Company of such fact in a writing signed by each of the Purchasers. The Company
further agrees that all notices and other documents provided to the Board of
Directors shall be provided to such representative, except for any documents
that may be privileged or confidential.

         5.4 PRESS RELEASES AND ANNOUNCEMENTS. Except to the extent otherwise
agreed by the Purchasers, the Company will not disclose the transactions
contemplated hereby, including by making any press release related to this
Agreement or the transactions contemplated herein, or other announcement to the
employees, customers or suppliers of the Company and the Subsidiaries, without
the prior written approval of the Purchasers (which shall not be unreasonably
withheld), and the Company will not disclose the name of any Purchaser
participating therein without the prior written consent of such Purchaser,
except where the Company has been advised by its counsel that such disclosure is
required by law. This Section 5.4 shall not be construed to prohibit the
disclosure of the transactions contemplated hereby in the Company's periodic
reports, proxy statements and registration statements required to be filed from
time to time with the U.S. Securities and Exchange Commission.

         5.5 FURTHER TRANSFERS. The Company (at its own expense) will execute
and deliver such further instruments of conveyance and transfer and take such
additional action as the Purchasers may reasonably request to effect,
consummate, confirm or evidence the transfer to the Purchasers of the Securities
and any other transactions contemplated hereby. The Company will execute such
documents as may be necessary to assist the Purchasers in preserving or
perfecting their respective rights in the Securities and will also do such acts
as are necessary to perform its representations, warranties and agreements
herein, including by, after the Closing, making all registrations, filings and
applications, giving all notices and obtaining all governmental, third party or
other consents, transfers, approvals, orders, qualifications and waivers
desirable for the consummation of the transactions contemplated hereby which,
for any reason, had not been made, given or obtained prior to the Closing.

         5.6 SPECIFIC PERFORMANCE. The Company acknowledges that the business of
the Company and the Subsidiaries and the Securities are unique and recognize and
affirm that in the event of a breach of this Agreement by the Company, money
damages may be inadequate and the Purchasers may have no adequate remedy at law.
Accordingly, the Company agrees that the Purchasers shall have the right, in
addition to any other rights and remedies existing in their favor at law or in
equity, to enforce their rights and the Company's obligations hereunder not only
by an action or actions for damages but also by an action or actions for
specific performance, injunctive and/or other equitable relief (without posting
of bond or other security).

         5.7 TRANSFER OF SECURITIES.

         (a) GENERAL PROVISIONS. The Securities are transferable only pursuant
to (i) public offerings registered under the Securities Act, (ii) Rule 144 or
Rule 144A of the Securities Act (or any similar rule or rules then in force) if
such rule is available or (iii) subject to the conditions specified in Section
5.8 below, any other legally available means of transfer.

                                      - 8 -

<PAGE>

         (b) OPINION DELIVERY. In connection with the transfer of any Securities
(other than a transfer described in subsection 5.7(a)(i) or (ii) above and other
than a transfer by a Purchaser to an Affiliate of such Purchaser), the holder
thereof shall deliver written notice to the Company describing in reasonable
detail the transfer or proposed transfer, together with an opinion, in form and
substance reasonably satisfactory to the Company and its counsel, to the effect
that such transfer of Securities may be effected without registration of such
Securities under the Securities Act. In addition, if the holder of the
Securities delivers to the Company an opinion, in form and substance reasonably
satisfactory to the Company and its counsel, no subsequent transfer of such
Securities shall require registration under the Securities Act, the Company
shall promptly upon such contemplated transfer deliver new certificates for such
Securities which do not bear the Securities Act legend set forth in Section 5.8.
If the Company is not required to deliver new certificates for such Securities
not bearing such legend, the holder thereof shall not transfer the same until
the prospective transferee has confirmed to the Company in writing its agreement
to be bound by the conditions contained in this Section and Section 5.8.

         (c) RULE 144A. Upon the request of any Purchaser, the Company shall
promptly supply to such Purchaser or its prospective transferees all information
regarding the Company required to be delivered in connection with a transfer
pursuant to Rule 144A of the Securities Act.

         (d) REMOVAL OF LEGEND. Notwithstanding the foregoing or any legend set
forth on the Warrants or certificates representing Underlying Common Stock, if
any Securities are eligible for sale pursuant to Rule 144(k), the Company shall,
upon the request of the holder of such Securities, remove the legend set forth
in Section 5.8 from the certificates for such Securities. In such event, the
holder of such Security shall furnish a representation letter to the Company
which shall (i) contain such information required pursuant to Rule 144(k) and
(ii) be in a form reasonably satisfactory to the Company's counsel.

         5.8 PURCHASERS' REPRESENTATIONS. Each Purchaser represents that it is
an "Accredited Investor" within the meaning of the Securities Act. Each
Purchaser understands that the Securities constitute "restricted securities"
within the meaning of Rule 144 under the Securities Act. Each Purchaser hereby
represents that it is acquiring the restricted securities purchased hereunder or
acquired pursuant hereto for its own account with the present intention of
holding such securities for purposes of investment, and that it has no current
intention of selling such securities in a public distribution in violation of
the federal securities laws or any applicable state securities laws; PROVIDED,
that nothing contained herein shall prevent any of the Purchasers and subsequent
holders of restricted securities from transferring such securities in compliance
with the provisions of Section 5.7. Each Purchaser understands that the
restricted securities are being offered and sold in reliance on exemptions from
the registration requirements of federal and state securities laws and that the
Company is relying upon the truth and accuracy of the Purchasers'
representations, warranties, agreements, acknowledgments and understandings set
forth herein to determine its suitability to acquire the restricted securities.
Each instrument or certificate for the Warrants shall be imprinted with a legend
in substantially the following form:

         "THE SECURITIES REPRESENTED BY THIS CERTIFICATE WERE ORIGINALLY ISSUED
         ON OCTOBER 28, 1998, AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
         ACT OF 1933, AS AMENDED. THE TRANSFER OF THE SECURITIES REPRESENTED BY
         THIS CERTIFICATE IS SUBJECT TO THE CONDITIONS SPECIFIED IN THE
         SECURITIES PURCHASE AGREEMENT, DATED AS OF OCTOBER 28, 1998, BETWEEN
         THE ISSUER (THE "COMPANY")

                                      - 9 -

<PAGE>

         AND THE PURCHASERS NAMED THEREIN, AND THE COMPANY RESERVES THE RIGHT TO
         REFUSE THE TRANSFER OF SUCH SECURITIES UNTIL SUCH CONDITIONS HAVE BEEN
         FULFILLED WITH RESPECT TO SUCH TRANSFER. A COPY OF SUCH CONDITIONS
         SHALL BE FURNISHED BY THE COMPANY TO THE HOLDER HEREOF UPON WRITTEN
         REQUEST AND WITHOUT CHARGE."

         The Underlying Common Stock shall also be subject to certain transfer
restrictions and each certificate representing such shares purchased upon
exercise of this Warrant shall bear a legend substantially in the following
form:

         "THE SECURITIES REPRESENTED BY THIS CERTIFICATE WERE ORIGINALLY ISSUED
         ON ___________ 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, DATED AS OF OCTOBER
         28, 1998, BETWEEN THE ISSUER (THE "COMPANY") AND THE PURCHASERS NAMED
         THEREIN. A COPY OF SUCH CONDITIONS SHALL BE FURNISHED BY THE COMPANY TO
         THE HOLDER HEREOF UPON WRITTEN REQUEST AND WITHOUT CHARGE."

                                   ARTICLE VI

                                   DEFINITIONS

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

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

         "Exchange Act" means the Securities Exchange Act of 1934, as amended.

         "Financing" means the financing provided to the Borrowers pursuant to
the Credit Agreement.

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

         "Material Adverse Effect"shall have the meaning ascribed to such term
in the Credit Agreement.

         "Person" means any individual, sole proprietorship, partnership
(including a limited partnership), joint venture, trust, unincorporated
organization, association, corporation, institution, public benefit corporation,
limited liability company, joint stock company, entity or government (whether
federal, state, county, city, municipal or otherwise, including, without
limitation, any instrumentality, division, agency, body or department thereof)
or other business entity.

                                     - 10 -

<PAGE>

         "SEC" means the United States Securities and Exchange Commission and
any successor to the functions thereof.

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

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

         "Underlying Common Stock" means (i) the Common Stock issued or issuable
upon exercise of the Warrants, and (ii) any Common Stock issued or issuable with
respect to the securities referred to above by way of stock dividend or stock
split or in connection with a combination of shares, recapitalization, merger,
consolidation or other reorganization.

                                   ARTICLE VII

                                  MISCELLANEOUS

         7.1 AMENDMENT AND WAIVER. This Agreement may be amended and any
provision of this Agreement may be waived, provided that, subject to the last
sentence of Section 2.1 and the last sentence of Section 2.2, any such amendment
or waiver will be binding upon a party only if such amendment or waiver is set
forth in a writing executed by each of the Company and the Purchasers. No course
of dealing between or among any persons having any interest in this Agreement
will be deemed effective to modify, amend or discharge any part of this
Agreement or any rights or obligations of any party under or by reason of this
Agreement.

         7.2 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 to the party to be notified and sent to the address indicated
on ANNEX III 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. Failure or delay in delivering copies of any notice, demand,
request, consent, approval, declaration or other communication to any Person
designated on ANNEX III to receive copies shall in no way adversely affect the
effectiveness of such notice, demand, request, consent, approval, declaration or
other communication.

         7.3 BINDING AGREEMENT; ASSIGNMENT.

         (a) This Agreement and all of the provisions hereof will be binding
upon and inure to the benefit of the parties hereto and their respective
successors and permitted assigns, but neither this Agreement nor any of the
rights, interests or obligations hereunder may be assigned by the Company
without the prior written consent of the Purchasers.

                                     - 11 -

<PAGE>

         (b) The Purchasers may, upon prior written notice to the Company, at
their sole discretion, assign, in whole or in part, their respective rights and
obligations pursuant to this Agreement to one or more of their respective
Affiliates.

         7.4 SEVERABILITY. Whenever possible, each provision of this Agreement
will be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be prohibited by or
invalid under applicable law, such provision will be ineffective only to the
extent of such prohibition or invalidity, without invalidating the remainder of
such provisions or the remaining provisions of this Agreement.

         7.5 NO STRICT CONSTRUCTION. The language used in this Agreement will be
deemed to be the language chosen by the parties hereto to express their mutual
intent, and no rule of strict construction will be applied against any person.

         7.6 HEADINGS; INTERPRETATION. The headings used in this Agreement are
for convenience of reference only and do not constitute a part of this Agreement
and will not be deemed to limit, characterize or in any way affect any provision
of this Agreement, and all provisions of this Agreement will be enforced and
construed as if no caption had been used in this Agreement. Whenever the term
"including" is used in this Agreement (whether or not that term is followed by
the phrase "but not limited to" or "without limitation" or words of similar
effect) in connection with a listing of one or more items or matters, that
listing will be interpreted to be illustrative only and will not be interpreted
as a limitation on, or an exclusive listing of, such items or matters.

         7.7 ENTIRE AGREEMENT. This Agreement and the documents referred to
herein contain the entire agreement between the parties and supersede any prior
understandings, agreements or representations by or between the parties, written
or oral, which may have related to the subject matter hereof in any way.

         7.8 COUNTERPARTS. This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original but all of which taken
together will constitute one and the same instrument.

         7.9 GOVERNING LAW. THIS AGREEMENT AND THE EXHIBITS AND SCHEDULES HERETO
SHALL BE GOVERNED BY THE INTERNAL LAW OF THE STATE OF NEW YORK, WITHOUT GIVING
EFFECT TO ANY CHOICE OF LAW OR CONFLICT OF LAW PROVISION OR RULE (WHETHER OF THE
STATE OF NEW YORK OR ANY OTHER JURISDICTION) THAT WOULD CAUSE THE APPLICATION OF
THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF NEW YORK.

         7.10 PARTIES IN INTEREST. Nothing in this Agreement, express or
implied, is intended to confer on any person other than the parties and their
respective successors and assigns any rights or remedies under or by virtue of
this Agreement.

                  [Remainder of Page Intentionally Left Blank.
                        Signatures Follow on Next Page.]

                                     - 12 -

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the date first written above.

                             HI-RISE RECYCLING SYSTEMS, INC.

                             By:  /s/ J. Gary McAlpin
                             Name:  J. Gary McAlpin
                             Title: Chief Operating Officer

                             General Electric Capital Corporation

                             By: /s/Timothy B. Perusek
                             Name: Timothy B. Perusek
                             Title: Vice President

                             NationsBank, National Association

                             By: /s/John Foreman
                             Name: John Foreman
                             Title: Vice President

                             Key Corporate Capital Inc.

                             By: /s/Laura A. Coneglio
                             Name: Laura A. Coneglio
                             Title: Assistant Vice President

                                     - 13 -

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