Document:

<PAGE>

                                                                    EXHIBIT 10.6
                                                               EXECUTION VERSION

                    FIRST AMENDMENT TO COLLATERAL AGENCY AND
                             INTERCREDITOR AGREEMENT

         FIRST AMENDMENT, dated as of October 10, 2003 (this "AMENDMENT"), to
the COLLATERAL AGENCY AND INTERCREDITOR AGREEMENT (the "AGREEMENT") dated as of
November 1, 1994 among CREDIT SUISSE, as agent bank under the Working Capital
Facility, CREDIT SUISSE, as agent bank under the Reimbursement Agreement, BANQUE
NATIONALE DE PARIS, as agent bank under the Debt Service Reserve LOC
Reimbursement Agreement, THE BANK OF NEW YORK (as successor trustee to
NationsBank of Florida, N.A.), as Trustee under the Trust Indenture, dated as of
November 1, 1994, THE BANK OF NEW YORK (as successor tax exempt trustee to
NationsBank of Florida, N.A.), as Tax Exempt Trustee under the Amended and
Restated Indenture of Trust, dated as of November 1, 1994, the MARTIN COUNTY
INDUSTRIAL DEVELOPMENT AUTHORITY, a body corporate and politic organized and
existing under the laws of the State of Florida (the "IDA"), THE BANK OF NEW
YORK (as successor disbursement agent to NationsBank of Florida, N.A.), as
Disbursement Agent under the Disbursement Agreement, INDIANTOWN COGENERATION,
L.P., a Delaware limited partnership (together with its successors and assigns,
the "PARTNERSHIP"), INDIANTOWN COGENERATION FUNDING CORPORATION, a Delaware
corporation (together with its successors and assigns, the "COMPANY"), and
DEUTSCHE BANK TRUST COMPANY AMERICAS (as successor collateral agent to Bankers
Trust Company), as Collateral Agent. Capitalized terms used herein and not
otherwise defined herein shall have the meanings ascribed thereto in the
Agreement.

                                   WITNESSETH

         WHEREAS, the Partnership intends to refinance and/or replace the credit
facilities evidenced by the Working Capital Facility, the Reimbursement
Agreement, and the Debt Service Reserve LOC Reimbursement Agreement referred to
above (such facilities, collectively, the "ORIGINAL CREDIT FACILITIES") pursuant
to certain agreements to be entered into with Credit Lyonnais New York Branch as
agent thereunder and the other parties thereto on or about the date hereof (such
facilities as refinanced or replaced from time to time, the "NEW CREDIT
FACILITIES").

         WHEREAS, the Required Senior Creditors have agreed to amend the
Agreement pursuant to Section 8(d), Section 22, and other provisions thereof,
and subject to the terms and conditions set forth herein, to (i) reflect the
particulars of the New Credit Facilities (including making Credit Lyonnais New
York Branch as agent under the New Credit Facilities a Senior Party), (ii)
incorporate the amended defined terms of that certain Third Supplemental
Indenture, dated on or about the date hereof, to the Indenture, (iii) clarify
that the credit facilities represented by the New Credit Facilities may be
replaced from time to time in accordance with the requirements of the applicable
Financing Documents, and (iv) provide that certain Financing Documents may be
amended or modified from time to time in certain circumstances without the
consent of the Required Senior Creditors, the Trustee, the Tax Exempt Trustee,
or the IDA for the purpose of evidencing the termination, amendment,
modification, or replacement of the credit facilities represented by the New
Credit Facilities.

<PAGE>

         NOW, THEREFORE, in consideration of the mutual agreements contained
herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto do hereby agree
as follows:

SECTION 1. AMENDMENTS TO THE AGREEMENT

                  1.1      AMENDMENTS TO THE FIRST PARAGRAPH.

                  The first paragraph of the Agreement, appearing immediately
before the "Preliminary Statements" of the Agreement, is hereby amended by
deleting such paragraph in its entirety and inserting in lieu thereof the
following:

         "This COLLATERAL AGENCY AND INTERCREDITOR AGREEMENT (this "Agreement"),
         dated as of November 1, 1994, among CREDIT LYONNAIS NEW YORK BRANCH, as
         agent bank (together with its successors, assigns and replacements)
         under the Reimbursement Agreement, CREDIT LYONNAIS NEW YORK BRANCH, as
         agent bank (together with its successors, assigns and replacements)
         under the Debt Service Reserve LOC Reimbursement Agreement, CREDIT
         LYONNAIS NEW YORK BRANCH, as agent bank (together with its successors,
         assigns and replacements) under the Working Capital Facility, THE BANK
         OF NEW YORK (successor trustee to NationsBank of Florida, N.A.), as
         Trustee under the Trust Indenture dated as of November 1, 1994
         (together with its successors and assigns the "Trustee"), THE BANK OF
         NEW YORK (successor trustee to NationsBank of Florida, N.A.), as
         Trustee under the Amended and Restated Indenture of Trust (together
         with its successors and assigns, the "Tax Exempt Trustee"), the MARTIN
         COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY, a body corporate and politic
         organized and existing under the laws of the State of Florida (together
         with its successors and assigns, the "IDA"), THE BANK OF NEW YORK
         (successor disbursement agent to NationsBank of Florida, N.A.), as
         Disbursement Agent (together with its successors and assigns, the
         "Disbursement Agent") under the Disbursement Agreement, INDIANTOWN
         COGENERATION, L.P., a Delaware limited partnership (together with its
         successors and assigns, the "Partnership"), INDIANTOWN COGENERATION
         FUNDING CORPORATION, a Delaware corporation (together with its
         successors and assigns, the "Company," the Company together with the
         Partnership is herein collectively referred to as the "Borrowers"), and
         DEUTSCHE BANK TRUST COMPANY AMERICAS (successor collateral agent to
         Bankers Trust Company), as Collateral Agent (together with its
         successors and assigns, the "Collateral Agent")."

                  1.2      AMENDMENTS TO THE PRELIMINARY STATEMENTS.

                  A. Preliminary Statement 6 is hereby amended by deleting such
preliminary statement in its entirety and inserting in lieu thereof the
following:

         "6. The Partnership intends to finance certain working capital
         requirements of the Project pursuant to a Revolving Credit Agreement,
         dated as of October ___,

                                       2

<PAGE>

         2003, among the Partnership, each of the banks and financial
         institutions identified therein and the Working Capital Provider, as
         agent."

                           B. Preliminary Statement 7 is hereby amended by
deleting the second sentence thereof in its entirety and inserting in lieu
thereof the following:

         "The LOC Provider has agreed to issue Letters of Credit subject to the
         terms and conditions contained in the Letter of Credit and
         Reimbursement Agreement, dated as of October ___, 2003, among the
         Partnership, each of the banks and financial institutions identified
         therein and the LOC Provider, as agent."

                           C. Preliminary Statement 8 is hereby amended by
deleting the second sentence thereof in its entirety and inserting in lieu
thereof the following:

         "The Debt Service Reserve Letter of Credit Provider has agreed to issue
         a Debt Service Reserve Letter of Credit subject to the terms and
         conditions contained in the Debt Service Reserve Letter of Credit and
         Reimbursement Agreement, dated as of October ___, 2003, among the
         Partnership, each of the banks and financial institutions identified
         therein and the Debt Service Reserve Letter of Credit Provider, as
         agent."

                  1.3      AMENDMENTS TO SECTION 1: DEFINITIONS.

         A.       Section 1 of the Agreement is hereby amended by deleting the
third sentence thereof in its entirety and inserting in lieu thereof the
following:

         "Capitalized terms not otherwise defined herein shall have the meanings
set forth in that certain Trust Indenture, dated as of November 1, 1994, and
supplemented by that certain Third Supplemental Indenture, dated on or about
October ___, 2003, among the Partnership, the Company, and the Trustee
(collectively, the "Indenture"), in the form of such terms as they exist on the
date of and giving effect to such Third Supplemental Indenture; provided,
however, that defined terms from the Indenture that have been added or amended
subsequent to the date of such Third Supplemental Indenture shall have such
added or amended meanings herein upon compliance with the provisions of Section
8(d) hereof."

         B.       Section 1 of the Agreement is hereby further amended by
deleting the definitions of "Debt Service Reserve Letter of Credit," "Debt
Service Reserve Letter of Credit Provider," "Debt Service Reserve LOC
Reimbursement Agreement," "Letters of Credit," "LOC Provider," "Reimbursement
Agreement," and "Working Capital Provider" in their respective entireties and by
deleting the definition of "Working Capital Facility" in its entirety and
inserting in lieu thereof the following:

         ""Working Capital Facility" means the Revolving Credit Agreement, dated
         as of October ___, 2003, among the Partnership, the Banks (as defined
         therein) party

                                       3
<PAGE>

         thereto from time to time, and Credit Lyonnais New York Branch, as
         agent, and any replacement agreement under or pursuant to which funds
         not to exceed $15,000,000 in principal amount for the working capital
         needs of the Project are provided, which funds may be used solely to
         pay Operation and Maintenance Costs and principal, interest, fees,
         expenses and other amounts payable by the Partnership under such
         agreement, in each case as any such agreement may be amended, modified,
         or supplemented from time to time."

                  1.4      AMENDMENTS TO SECTION 7: RIGHTS OF SENIOR PARTIES.

                  Section 7 of the Agreement is hereby amended by deleting the
words "(upon receipt of Senior Creditor Certificates from the Required Senior
Creditors)" and inserting in lieu thereof the words "(upon receipt of Senior
Creditor Certificates from the Required Senior Creditors unless such
certificates are not required under Section 8(d) of this Agreement or under the
Disbursement Agreement)".

                  1.5      AMENDMENTS TO SECTION 8: APPOINTMENT AND DUTIES OF
                           COLLATERAL AGENT, APPOINTMENT AND DUTIES OF
                           DISBURSEMENT AGENT UNDER THE SECURITY DOCUMENTS.

                  Section 8(d) is hereby amended by inserting the following
after the ")" and prior to the "." at the end of such section:

         "; and provided, further, that no consent of (nor, for the avoidance of
         doubt, any Senior Creditor Certificate from) the Required Senior
         Creditors (or, for the avoidance of doubt, any consent of the Trustee,
         the Tax Exempt Trustee, or the IDA) shall be required for purposes of
         any amendment or modification of any provision of (A) this Agreement,
         the Mortgage, or the Security Agreement to the extent that (1) such
         amendment or modification concerns the termination, amendment,
         modification, or replacement of any of the Debt Service Reserve LOC
         Reimbursement Agreement, the Reimbursement Agreement, or the Working
         Capital Facility to reflect a substitute provider(s) of any such
         facility and (2) the Partnership certifies to each of the Trustee and
         the Tax Exempt Trustee (on which such certificate the Trustee and the
         Tax Exempt Trustee may conclusively rely) that such termination,
         amendment, modification, or replacement is not reasonably expected to
         reduce the likelihood of payment of the Securities or Tax Exempt Bonds,
         as applicable, or otherwise to have a material adverse effect upon the
         holders of the Securities or the Tax Exempt Bonds, as applicable, or
         (B) the Disbursement Agreement, to the extent provided therein, and in
         each such case the Collateral Agent and/or the Disbursement Agent, as
         applicable, may conclusively rely on the certificate of the Partnership
         described above and shall enter into such amendment or modification of
         such agreement".

                                       4
<PAGE>

                  1.6      AMENDMENT TO SECTION 17: NOTICES.

                  Section 17 is hereby amended by deleting the notice address of
each of the Trustee, the Tax Exempt Trustee, and the Disbursement Agent
appearing therein and inserting in lieu thereof the following:

                           "The Bank of New York
                           10161 Centurion Parkway
                           Jacksonville, Florida 32256
                           Attention: Trust Division"

SECTION 2. MISCELLANEOUS

                  2.1      SEVERABILITY.

         Any term or provision of this Amendment that is invalid, illegal,
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such invalidity, illegality, prohibition or
unenforceability without invalidating the remaining terms and provisions hereof,
and any such invalidity, illegality, prohibition or unenforceability in any
jurisdiction shall not invalidate or render prohibited or unenforceable such
term or provision in any other jurisdiction.

                  2.2      SEPARATE COUNTERPARTS.

         This Amendment may be executed in any number of counterparts, each of
which when so executed shall be deemed to be an original; but all such
counterparts shall together constitute but one and the same instrument. Delivery
by facsimile of a signed copy of this Amendment shall have the same effect as
delivery of a manually executed counterpart.

                  2.3      BENEFIT OF AGREEMENT.

         All covenants, agreements, conditions, obligations, liabilities, terms
and provisions contained herein shall be binding upon, and inure to the benefit
of, the parties and their respective successors, assigns and replacements.
Nothing in this Amendment, whether express or implied, shall be construed to
give any Person other than the parties hereto any legal, equitable or other
right, privilege, remedy, claim or demand to, under or in respect of this
Amendment.

                  2.4      HEADINGS.

         The article and section headings herein are for convenience only and
shall not affect the construction hereof.

                  2.5      GOVERNING LAW.

         THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK, AS APPLIED TO CONTRACTS MADE AND PERFORMED
ENTIRELY WITHIN THE STATE OF NEW

                                       5
<PAGE>

YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS, OTHER THAN GENERAL
OBLIGATIONS LAW SECTION 5-1401.

                  2.6      EFFECT OF THIS AMENDMENT.

         On and after the effective date of this Amendment, each reference in
the Agreement to "this Agreement", "hereunder", "hereof", "herein" or words of
like import referring to the Agreement, and each reference in the other
Financing Documents to the "Intercreditor Agreement", "thereunder", "thereof" or
words of like import referring to the Agreement shall mean and be a reference to
the Agreement as amended by this Amendment. Except as specifically amended
above, the Agreement shall remain in full force and effect and is hereby
ratified and confirmed.

                            [signature page follows]

                                       6
<PAGE>

                  IN WITNESS WHEREOF, the parties hereto have caused this
Amendment to be duly executed by their respective officers thereunto duly
authorized, as of the day and year first above written.

                                        INDIANTOWN COGENERATION, L.P.

                                        By: /s/ F. JOSEPH FEYDER
                                            ------------------------------------
                                            Name: F. Joseph Feyder
                                            Title: Vice President

                                        INDIANTOWN COGENERATION
                                        FUNDING CORPORATION

                                        By: /s/ JOHN C. BARPOULIS
                                            ------------------------------------
                                            Name: John C. Barpoulis
                                            Title: Vice President and Treasurer

                                        THE BANK OF NEW YORK,
                                        as Tax Exempt Trustee

                                        By: /s/ SHERYL LEAR
                                            ------------------------------------
                                            Name: Sheryl Lear
                                            Title: Agent

                                        THE BANK OF NEW YORK,
                                        as Trustee

                                        By: /s/ SHERYL LEAR
                                            ------------------------------------
                                            Name: Sheryl Lear
                                            Title: Agent

                                        THE BANK OF NEW YORK,
                                        as Disbursement Agent

                                        By: /s/ SHERYL LEAR
                                            ------------------------------------
                                            Name: Sheryl Lear
                                            Title: Agent

       [First Amendment to Collateral Agency and Intercreditor Agreement]

<PAGE>

                                        CREDIT LYONNAIS NEW YORK BRANCH,
                                        as agent bank under the Reimbursement
                                        Agreement and as a Senior Party

                                        By: /s/ JAMES F. GUIDERA
                                            ------------------------------------
                                            Name: James F. Guidera
                                            Title: Senior Vice President

                                        CREDIT LYONNAIS NEW YORK BRANCH,
                                        as agent bank under the Working Capital
                                        Facility and as a Senior Party

                                        By: /s/ JAMES F. GUIDERA
                                            ------------------------------------
                                            Name: James F. Guidera
                                            Title: Senior Vice President

                                        CREDIT LYONNAIS NEW YORK BRANCH,
                                        as agent bank under the Debt Service
                                        Reserve LOC Reimbursement Agreement and
                                        as a Senior Party

                                        By: /s/ JAMES F. GUIDERA
                                            ------------------------------------
                                            Name: James F. Guidera
                                            Title: Senior Vice President

                                        MARTIN COUNTY INDUSTRIAL
                                        DEVELOPMENT AUTHORITY

                                        By: /s/ TED ASTOLFI
                                            ------------------------------------
                                            Name: Ted Astolfi
                                            Title: Secretary

                                        DEUTSCHE BANK TRUST COMPANY
                                        AMERICAS, as Collateral Agent

                                        By: /s/ RICHARD L. BUCKWALTER
                                            ------------------------------------
                                            Name: Richard L. Buckwalter
                                            Title: Senior Vice President

       [First Amendment to Collateral Agency and Intercreditor Agreement]

<PAGE>

ACKNOWLEDGED AND AGREED
as of the date first above written:

BNP PARIBAS (f/k/a BANQUE
NATIONALE DE PARIS), as agent bank
under the original Debt Service Reserve
LOC Reimbursement Agreement

By: /s/ ANDREW S. PLATT
    -----------------------------------
    Name: Andrew S. Platt
    Title: Vice President

CREDIT SUISSE FIRST BOSTON (f/k/a
CREDIT SUISSE), as agent bank under the
original Reimbursement Agreement and
Working Capital Facility

By: /s/ BRIAN T. CALDWELL

    ---------------------------
    Name: Brian T. Caldwell
    Title: Director

       [First Amendment to Collateral Agency and Intercreditor Agreement]<PAGE>

                                                                    EXHIBIT 10.7
                                                               EXECUTION VERSION

                          FIRST SUPPLEMENTAL INDENTURE

         FIRST SUPPLEMENTAL INDENTURE (this "First Supplemental Indenture"),
dated as of October 10, 2003, to the Amended and Restated Indenture of Trust,
dated as of November 1, 1994 (as supplemented prior to the date hereof, the
"Tax-Exempt Indenture"), by and between the Martin County Industrial Development
Authority, a body corporate and politic of the State of Florida, as issuer (the
"Authority") and The Bank of New York (as successor trustee to NationsBank of
Florida, N.A.), as tax-exempt trustee (the "Tax-Exempt Trustee"), its Corporate
Trust Division being at The Bank of New York Plaza, 10161 Centurion Parkway,
Jacksonville, Florida 32256. Capitalized terms used herein without definition
shall have the meanings assigned to them in the Tax-Exempt Indenture.

                              W I T N E S S E T H

         WHEREAS, the Authority and the Tax-Exempt Trustee have heretofore
executed and delivered to the Tax-Exempt Trustee the Tax-Exempt Indenture to
provide for the issuance by the Authority of Bonds in order to make a loan to
Indiantown Cogeneration, L.P., a Delaware limited partnership (the
"Partnership"), pursuant to the Authority Loan Agreement in connection with the
Partnership's cogeneration facility located near Indiantown, in Martin County,
Florida;

         WHEREAS, contemporaneously with the issuance of the Bonds, the
Partnership entered into (a) that certain Debt Service Reserve Letter of Credit
and Reimbursement Agreement among the Partnership, the banks named therein, and
Banque Nationale de Paris, as agent, dated as of November 1, 1994, (b) that
certain Letter of Credit and Reimbursement Agreement among the Partnership, the
banks named therein, and Credit Suisse, as agent, dated as of November 1, 1994,
and (c) that certain Revolving Credit Agreement among the Partnership, the banks
named therein, and Credit Suisse, as agent, dated as of November 1, 1994 (all of
the aforementioned credit facilities collectively, the "Original Credit
Facilities");

         WHEREAS, the Partnership and Indiantown Cogeneration Funding
Corporation, a Delaware corporation (the "Company"), desire (a) to replace the
Original Credit Facilities with credit facilities on substantially the same
terms as those of the Original Credit Facilities (such replacement facilities,
the "New Credit Facilities") and to make certain conforming and other changes to
the Tax-Exempt Indenture and to certain of the Financing Documents, (b) to
clarify in the Tax-Exempt Indenture and in certain of the Financing Documents
the Company's and the Partnership's right to replace the New Credit Facilities
from time to time, and (c) in connection with such replacement of the Original
Credit Facilities and future replacements thereof, to provide for the repayment
of amounts outstanding under such facilities and the payment of transaction
expenses related to any such replacement on dates other than an Interest Payment
Date;

<PAGE>

         WHEREAS, Section 13.01 of the Tax-Exempt Indenture provides that the
Authority and the Tax-Exempt Trustee may at any time, without the consent of the
Bondholders, enter into a supplemental indenture for the purpose of amending,
modifying or altering the terms or provisions set forth in the Tax-Exempt
Indenture for the reasons set forth in such Section 13.01;

         WHEREAS, all acts and things necessary to constitute these presents a
valid and binding supplemental indenture according to its terms have been done
and performed and the execution of this First Supplemental Indenture has in all
respects been duly authorized, and the Authority, in the exercise of the legal
right and power vested in it, executes this First Supplemental Indenture; and

         WHEREAS, pursuant to Section 13.01(a) of the Tax-Exempt Indenture, the
Trustee is authorized to execute and deliver this First Supplemental Indenture.

         NOW, THEREFORE, in consideration of the mutual agreements contained
herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties to this First
Supplemental Indenture hereby agree as follows:

                                    ARTICLE I

                                   AMENDMENTS

         SECTION 1.1       AMENDMENTS

         1. Section 1.01 of the Tax-Exempt Indenture is hereby amended as
            follows:

                  a.       The definition of "Debt Service Reserve Letter of
Credit" is hereby deleted in its entirety and the following is inserted in lieu
thereof:

         ""Debt Service Reserve Letter of Credit" means one or more irrevocable,
         direct pay letters of credit issued by any financial institution with a
         rating of "A" or higher by S&P and "A2" or higher by Moody's in favor
         of the Disbursement Agent, secured by the Collateral ratably with the
         other senior secured indebtedness of the Partnership."

                  b.       The definition of "Debt Service Reserve Letter of
Credit Provider" is hereby deleted in its entirety and the following is inserted
in lieu thereof:

         ""Debt Service Reserve Letter of Credit Provider" means the banks and
         financial institutions providing or otherwise participating in any Debt
         Service Reserve

                                       2

<PAGE>

         Letter of Credit under or pursuant to any Debt Service Reserve LOC
         Reimbursement Agreement."

                  c.       The definition of "Debt Service Reserve LOC
Reimbursement Agreement" is hereby deleted in its entirety and the following is
inserted in lieu thereof:

         ""Debt Service Reserve LOC Reimbursement Agreement" means the Debt
         Service Reserve Letter of Credit and Reimbursement Agreement, dated as
         of October 10, 2003, among the Partnership, Initial Bank and the Banks
         (each as defined therein) party thereto from time to time, and Credit
         Lyonnais New York Branch, as agent, and any replacement agreement under
         or pursuant to which any Debt Service Reserve Letter of Credit is
         provided, in each case as any such agreement may be amended, modified,
         or supplemented from time to time."

                  d.       The definition of "Disbursement Agreement" is hereby
amended by inserting immediately prior to the period appearing at the end
thereof the following:

         ", as the same may be amended, modified or supplemented from time to
         time".

                  e.       The definition of "Security Agreement" is hereby
amended by inserting immediately prior to the period appearing at the end
thereof the following:

         ", as the same may be amended, modified or supplemented from time to
         time".

         2. Section 17.01 of the Tax-Exempt Indenture is hereby amended by
deleting the notice address for the Tax Exempt Trustee appearing therein and
inserting in lieu thereof the following:

                           "The Bank of New York
                           10161 Centurion Parkway
                           Jacksonville, Florida 32256
                           Telefax Number: (904) 645-1997
                           Attention: Trust Division"

                                   ARTICLE II

                                  MISCELLANEOUS

         SECTION 2.1       EFFECT OF THE FIRST SUPPLEMENTAL INDENTURE

         This First Supplemental Indenture is executed and shall be construed as
an indenture supplemental to the Tax-Exempt Indenture and, as provided in the
Tax-Exempt Indenture, this First Supplemental Indenture forms a part thereof. On
and after the effective date of this First

                                       3

<PAGE>

Supplemental Indenture, each reference in the Tax-Exempt Indenture to "this
Tax-Exempt Indenture," "hereunder" or "herein" shall mean and be a reference to
the Tax-Exempt Indenture as supplemented by this First Supplemental Indenture.
Except as specifically amended above, the Tax-Exempt Indenture shall remain in
full force and effect and is hereby ratified and confirmed.

         SECTION 2.2       OPINION OF BOND COUNSEL AS TO CONDITIONS PRECEDENT

         Set forth as Exhibit A hereto is a copy of the Opinions of Bond Counsel
delivered to the Tax-Exempt Trustee in connection with this First Supplemental
Indenture.

         SECTION 2.3       CONCERNING THE TAX-EXEMPT TRUSTEE

         The Tax-Exempt Trustee shall not be responsible in any manner for or
with respect to the validity or sufficiency of this First Supplemental Indenture
or the due execution hereof by the Authority.

         SECTION 2.4       SEVERABILITY

         Any term or provision of this First Supplemental Indenture that is
invalid, illegal, prohibited or unenforceable in any jurisdiction shall, as to
such jurisdiction, be ineffective to the extent of such invalidity, illegality,
prohibition or unenforceability without invalidating the remaining terms and
provisions hereof, and any such invalidity, illegality, prohibition or
unenforceability in any jurisdiction shall not invalidate or render prohibited
or unenforceable such term or provision in any other jurisdiction.

         SECTION 2.5       COUNTERPARTS

         This First Supplemental Indenture may be executed in any number of
counterparts, each of which when so executed shall be deemed to be an original;
but all such counterparts shall together constitute but one and the same
instrument. Delivery by facsimile of a signed copy of this First Supplemental
Indenture shall have the same effect as delivery of a manually executed
counterpart.

         SECTION 2. 6      EFFECT OF HEADINGS

         The article and section headings herein are for convenience only and
shall not affect the construction hereof.

                                       4

<PAGE>

         SECTION 2.7       GOVERNING LAW

         THIS FIRST SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF FLORIDA, AS APPLIED TO CONTRACTS MADE
AND PERFORMED ENTIRELY WITHIN THE STATE OF FLORIDA, WITHOUT REGARD TO PRINCIPLES
OF CONFLICT OF LAWS THAT MIGHT DIRECT THE APPLICATION OF THE LAW OF ANOTHER
JURISDICTION.

                            [signature page follows]

                                       5

<PAGE>

         IN WITNESS WHEREOF, the Authority has caused this First Supplemental
Indenture to be executed by its Chairman and the seal of the Authority to be
impressed hereon and attested by the Secretary of said Authority, and the
Tax-Exempt Trustee has caused this First Supplemental Indenture to be executed
on its behalf and its seal to be impressed hereon and attested, all as of the
day and year first above written.

                                    MARTIN COUNTY INDUSTRIAL
                                    DEVELOPMENT AUTHORITY

                                    By: /s/ JOHN E. TRANTER
                                        ---------------------------------------
                                        Name: John E. Tranter
                                        Title: Chairman

(SEAL)

ATTEST:

/s/ TED ASTOLFI
---------------------------------
Secretary

                                    THE BANK OF NEW YORK,
                                    as Tax-Exempt Trustee

                                    By: /s/ SHERYL LEAR
                                        ---------------------------------------
                                        Name: Sheryl Lear
                                        Title: Agent

(SEAL)

ATTEST:

                         [First Supplemental Indenture]

<PAGE>

                                    Exhibit A

                           Opinion(s) of Bond Counsel

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