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EXHIBIT 4-221
EXECUTED IN COUNTERPARTS
OF WHICH THIS IS COUNTERPART NO. .
THE DETROIT EDISON COMPANY
(0000 Xxxxxx Xxxxxx,
Xxxxxxx, Xxxxxxxx 48226)
TO
BANKERS TRUST COMPANY
(Four Xxxxxx Xxxxxx,
Xxx Xxxx, Xxx Xxxx 00000)
AS TRUSTEE
------------------------
INDENTURE
Dated as of August 1, 1995
------------------------
SUPPLEMENTAL TO MORTGAGE AND DEED OF TRUST
DATED AS OF OCTOBER 1, 1924
PROVIDING FOR
(A) GENERAL AND REFUNDING MORTGAGE BONDS,
1995 SERIES AP, DUE SEPTEMBER 1, 2025
(B) GENERAL AND REFUNDING MORTGAGE BONDS,
1995 SERIES BP, DUE AUGUST 15, 2025
AND
(C) RECORDING AND FILING DATA
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TABLE OF CONTENTS*
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PAGE
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PARTIES..................................................... 1
RECITALS
Original Indenture and Supplementals...................... 1
Issue of Bonds under Indenture............................ 1
Bonds heretofore issued................................... 1
Reason for creation of new series......................... 5
Bonds to be 1995 Series AP and 1995 Series BP............. 5
Further Assurance......................................... 5
Authorization of Supplemental Indenture................... 5
Consideration for Supplemental Indenture.................. 5
PART I.
CREATION OF THREE HUNDRED EIGHTEENTH
SERIES OF BONDS
GENERAL AND REFUNDING MORTGAGE BONDS,
1995 SERIES AP
Sec. 1. Certain terms of Bonds of 1995 Series AP............ 6
Sec. 2. Redemption of Bonds of 1995 Series AP............... 8
Sec. 3. Redemption of Bonds of 1995 Series AP in event of
acceleration of Strategic Fund Revenue Bonds........ 8
Sec. 4. Form of Bonds of 1995 Series AP..................... 9
Form of Trustee's Certificate....................... 14
PART II.
CREATION OF THREE HUNDRED NINETEENTH
SERIES OF BONDS
GENERAL AND REFUNDING MORTGAGE BONDS,
1995 SERIES BP
Sec. 1. Certain terms of Bonds of 1995 Series BP............ 15
Sec. 2. Redemption of Bonds of 1995 Series BP............... 17
Sec. 3. Redemption of Bonds of 1995 Series BP in event of
acceleration of Strategic Fund Revenue Bonds........ 17
Sec. 4. Form of Bonds of 1995 Series BP..................... 18
Form of Trustee's Certificate....................... 23
PART III.
RECORDING AND FILING DATA
Recording and filing of Original Indenture.................. 24
Recording and filing of Supplemental Indentures............. 24
Recording of Certificates of Provision for Payment.......... 30
PART IV.
THE TRUSTEE
Terms and conditions of acceptance of trust by Trustee...... 30
PART V.
MISCELLANEOUS
Confirmation of Section 318(c) of Trust Indenture Act....... 30
Execution in Counterparts................................... 30
Testimonium................................................. 31
Execution................................................... 31
Acknowledgement of execution by Company..................... 31
Acknowledgement of execution by Trustee..................... 32
Affidavit as to consideration and good faith................ 33
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* This Table of Contents shall not have any bearing upon the interpretation of
any of the terms or provisions of this Indenture.
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PARTIES. SUPPLEMENTAL INDENTURE, dated as of the first day of August,
in the year one thousand nine hundred and ninety-five,
between THE DETROIT EDISON COMPANY, a corporation organized
and existing under the laws of the State of Michigan and a
transmitting utility (hereinafter called the "Company"),
party of the first part, and BANKERS TRUST COMPANY, a
corporation organized and existing under the laws of the
State of New York, having its corporate trust office at Four
Albany Street, in the Borough of Manhattan, The City and
State of New York, as Trustee under the Mortgage and Deed of
Trust hereinafter mentioned (hereinafter called the "Trus-
tee"), party of the second part.
ORIGINAL WHEREAS, the Company has heretofore executed and delivered
INDENTURE AND its Mortgage and Deed of Trust (hereinafter referred to as
SUPPLEMENTALS. the "Original Indenture"), dated as of October 1, 1924, to
the Trustee, for the security of all bonds of the Company
outstanding thereunder, and pursuant to the terms and
provisions of the Original Indenture, indentures dated as
of, respectively, June 1, 1925, August 1, 1927, February 1,
1931, June 1, 1931, October 1, 1932, September 25, 1935,
September 1, 1936, November 1, 1936, February 1, 1940,
December 1, 1940, September 1, 1947, March 1, 1950, November
15, 1951, January 15, 1953, May 1, 1953, March 15, 1954, May
15, 1955, August 15, 1957, June 1, 1959, December 1, 1966,
October 1, 1968, December 1, 1969, July 1, 1970, December
15, 1970, June 15, 1971, November 15, 1971, January 15,
1973, May 1, 1974, October 1, 1974, January 15, 1975,
November 1, 1975, December 15, 1975, February 1, 1976, June
15, 1976, July 15, 1976, February 15, 1977, March 1, 1977,
June 15, 1977, July 1, 1977, October 1, 1977, June 1, 1978,
October 15, 1978, March 15, 1979, July 1, 1979, September 1,
1979, September 15, 1979, January 1, 1980, April 1, 1980,
August 15, 1980, August 1, 1981, November 1, 1981, June 30,
1982, August 15, 1982, June 1, 1983, October 1, 1984, May 1,
1985, May 15, 1985, October 15, 1985, April 1, 1986, August
15, 1986, November 30, 1986, January 31, 1987, April 1,
1987, August 15, 1987, November 30, 1987, June 15, 1989,
July 15, 1989, December 1, 1989, February 15, 1990, November
1, 1990, April 1, 1991, May 1, 1991, May 15, 1991, September
1, 1991, November 1, 1991, January 15, 1992, February 29,
1992, April 15, 1992, July 15, 1992, July 31, 1992, November
30, 1992, December 15, 1992, January 1, 1993, March 1, 1993,
March 15, 1993, April 1, 1993, April 26, 1993, May 31, 1993,
June 30, 1993, June 30, 1993, September 15, 1993, March 1,
1994, June 15, 1994, August 15, 1994 and December 1, 1994
supplemental to the Original Indenture, have heretofore been
entered into between the Company and the Trustee (the
Original Indenture and all indentures supplemental thereto
together being hereinafter sometimes referred to as the
"Indenture"); and
ISSUE OF WHEREAS, the Indenture provides that said bonds shall be
BONDS UNDER issuable in one or more series, and makes provision that the
INDENTURE. rates of interest and dates for the payment thereof, the
date of maturity or dates of maturity, if of serial
maturity, the terms and rates of optional redemption (if
redeemable), the forms of registered bonds without coupons
of any series and any other provisions and agreements in
respect thereof, in the Indenture provided and permitted, as
the Board of Directors may determine, may be expressed in a
supplemental indenture to be made by the Company to the
Trustee thereunder; and
BONDS HERETOFORE WHEREAS, bonds in the principal amount of Eight billion
ISSUED. three hundred twenty- eight million five hundred
seventy-seven thousand dollars ($8,328,577,000) have hereto-
fore been issued under the indenture as follows, viz:
(1) Bonds of Series A -- Principal Amount $26,016,000,
(2) Bonds of Series B -- Principal Amount $23,000,000,
(3) Bonds of Series C -- Principal Amount $20,000,000,
(4) Bonds of Series D -- Principal Amount $50,000,000,
(5) Bonds of Series E -- Principal Amount $15,000,000,
(6) Bonds of Series F -- Principal Amount $49,000,000,
(7) Bonds of Series G -- Principal Amount $35,000,000,
(8) Bonds of Series H -- Principal Amount $50,000,000,
(9) Bonds of Series I -- Principal Amount $60,000,000,
(10) Bonds of Series J -- Principal Amount $35,000,000,
(11) Bonds of Series K -- Principal Amount $40,000,000,
(12) Bonds of Series L -- Principal Amount $24,000,000,
(13) Bonds of Series M -- Principal Amount $40,000,000,
(14) Bonds of Series N -- Principal Amount $40,000,000,
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(15) Bonds of Series O -- Principal Amount $60,000,000,
(16) Bonds of Series P -- Principal Amount $70,000,000,
(17) Bonds of Series Q -- Principal Amount $40,000,000,
(18) Bonds of Series W -- Principal Amount $50,000,000,
(19) Bonds of Series AA -- Principal Amount
$100,000,000,
(20) Bonds of Series BB -- Principal Amount $50,000,000,
(21) Bonds of Series CC -- Principal Amount $50,000,000,
(22) Bonds of Series UU -- Principal Amount
$100,000,000,
(23-31) Bonds of Series DDP Nos. 1-9 -- Principal Amount $14,305,000,
(32-45) Bonds of Series FFR Nos. 1-14 -- Principal Amount $45,600,000,
(46-67) Bonds of Series GGP Nos. 1-22 -- Principal Amount $42,300,000,
(68) Bonds of Series HH -- Principal Amount $50,000,000,
(69-90) Bonds of Series IIP Nos. 1-22 -- Principal Amount $3,750,000,
(91-98) Bonds of Series JJP Nos. 1-8 -- Principal Amount $6,850,000,
(99-106) Bonds of Series KKP Nos. 1-8 -- Principal Amount $14,890,000,
(107-121) Bonds of Series LLP Nos. 1-15 -- Principal Amount $8,850,000,
(122-142) Bonds of Series NNP Nos. 1-21 -- Principal Amount $47,950,000,
(143-160) Bonds of Series OOP Nos. 1-18 -- Principal Amount $18,880,000,
(161-179) Bonds of Series QQP Nos. 1-19 -- Principal Amount $13,650,000,
(180-194) Bonds of Series TTP Nos. 1-15 -- Principal Amount $3,800,000,
(195) Bonds of 1980 Series A -- Principal Amount $50,000,000,
(196-220) Bonds of 1980 Series CP Nos. 1-25 -- Principal Amount $35,000,000,
(221-231) Bonds of 1980 Series DP Nos. 1-11 -- Principal Amount $10,750,000,
(232-247) Bonds of 1981 Series AP Nos. 1-16 -- Principal Amount
$124,000,000,
(248) Bonds of 1985 Series A -- Principal Amount $35,000,000,
(249) Bonds of 1985 Series B -- Principal Amount $50,000,000,
(250) Bonds of Series PP -- Principal Amount $70,000,000,
(251) Bonds of Series RR -- Principal Amount $70,000,000,
(252) Bonds of Series EE -- Principal Amount $50,000,000,
(253-254) Bonds of Series MMP and MMP No. 2 -- Principal Amount $5,430,000,
(255) Bonds of Series T -- Principal Amount $75,000,000,
(256) Bonds of Series U -- Principal Amount $75,000,000,
(257) Bonds of 1986 Series B -- Principal Amount
$100,000,000,
(258) Bonds of 1987 Series D -- Principal Amount
$250,000,000,
(259) Bonds of 1987 Series E -- Principal Amount
$150,000,000,
(260) Bonds of 1987 Series C -- Principal Amount
$225,000,000,
(261) Bonds of Series V -- Principal Amount
$100,000,000,
(262) Bonds of Series SS -- Principal Amount
$150,000,000,
(263) Bonds of 1980 Series B -- Principal Amount
$100,000,000,
(264) Bonds of 1986 Series C -- Principal Amount
$200,000,000,
(265) Bonds of 1986 Series A -- Principal Amount
$200,000,000,
(266) Bonds of 1987 Series B -- Principal Amount
$175,000,000,
(267) Bonds of Series X -- Principal Amount
$100,000,000,
(268) Bonds of 1987 Series F -- Principal Amount
$200,000,000,
(269) Bonds of 1987 Series A -- Principal Amount
$300,000,000,
(270) Bonds of Series Y -- Principal Amount $60,000,000,
(271) Bonds of Series Z -- Principal Amount
$100,000,000,
(272) Bonds of 1989 Series A -- Principal Amount
$300,000,000,
(273) Bonds of 1984 Series AP -- Principal Amount $2,400,000
(274) Bonds of 1984 Series BP -- Principal Amount $7,750,000
all of which have either been retired and cancelled, or no
longer represent obligations of the Company, having been
called for redemption and funds necessary to effect the
payment, redemption and retirement thereof having been
deposited with the Trustee as a special trust fund to be
applied for such purpose;
(275) Bonds of Series R in the principal amount of One
hundred million dollars ($100,000,000), all of which are
outstanding at the date hereof;
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(276) Bonds of Series S in the principal amount of One
hundred fifty million dollars ($150,000,000), all of which
are outstanding at the date hereof;
(277-283) Bonds of Series KKP Nos. 9-15 in the principal
amount of One hundred ninety-nine million five hundred
ninety thousand dollars ($199,590,000), all of which are
outstanding at the date hereof;
(284) Bonds of 1989 Series BP in the principal amount of
Sixty-six million five hundred sixty-five thousand dollars
($66,565,000), all of which are outstanding at the date
hereof;
(285) Bonds of 1990 Series A in the principal amount of One
hundred ninety-four million six hundred forty-nine thousand
dollars ($194,649,000) of which Thirty-seven million six
hundred seventy-four thousand dollars ($37,674,000)
principal amount have heretofore been retired and One
hundred fifty-six million nine hundred seventy-five thousand
dollars ($156,975,000) principal amount are outstanding at
the date hereof;
(286) Bonds of 1990 Series B in the principal amount of Two
hundred fifty-six million nine hundred thirty-two thousand
dollars ($256,932,000) of which Fifty-seven million
ninety-six thousand dollars ($57,096,000) principal amount
have heretofore been retired and One hundred ninety-nine
million eight hundred thirty-six thousand dollars
($199,836,000) principal amount are outstanding at the date
hereof;
(287) Bonds of 1990 Series C in the principal amount of
Eighty-five million four hundred seventy-five thousand
dollars ($85,475,000) of which Twenty million five hundred
fourteen thousand dollars ($20,514,000) principal amount
have heretofore been retired and Sixty-four million nine
hundred sixty-one thousand dollars ($64,961,000) principal
amount are outstanding at the date hereof;
(288) Bonds of 1991 Series AP in the principal amount of
Thirty-two million three hundred seventy-five thousand
dollars ($32,375,000), all of which are outstanding at the
date hereof;
(289) Bonds of 1991 Series BP in the principal amount of
Twenty-five million nine hundred ten thousand dollars
($25,910,000), all of which are outstanding at the date
hereof;
(290) Bonds of 1991 Series CP in the principal amount of
Thirty-two million eight hundred thousand dollars
($32,800,000), all of which are outstanding at the date
hereof;
(291) Bonds of 1991 Series DP in the principal amount of
Thirty-seven million six hundred thousand dollars
($37,600,000), all of which are outstanding at the date
hereof;
(292) Bonds of 1991 Series EP in the principal amount of
Forty-one million four hundred eighty thousand dollars
($41,480,000), all of which are outstanding at the date
hereof;
(293) Bonds of 1991 Series FP in the principal amount of
Ninety-eight million three hundred seventy-five thousand
dollars ($98,375,000), all of which are outstanding at the
date hereof;
(294) Bonds of 1992 Series BP in the principal amount of
Twenty million nine hundred seventy-five thousand dollars
($20,975,000), all of which are outstanding at the date
hereof;
(295) Bonds of 1992 Series AP in the principal amount of
Sixty-six million dollars ($66,000,000), all of which are
outstanding at the date hereof;
(296) Bonds of 1992 Series D in the principal amount of
Three hundred million dollars ($300,000,000), of which Ten
million dollars ($10,000,000) principal amount have
heretofore been retired and Two hundred ninety million
($290,000,000) principal amount are outstanding at the date
hereof;
(297) Bonds of 1992 Series CP in the principal amount of
Thirty-five million dollars ($35,000,000), all of which are
outstanding at the date hereof;
(298) Bonds of 1992 Series E in the principal amount of
Fifty million dollars ($50,000,000), all of which are
outstanding at the date hereof;
(299) Bonds of 1989 Series BP No. 2 in the principal amount
of Thirty-six million dollars ($36,000,000), all of which
are outstanding at the date hereof;
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(300) Bonds of 1993 Series C in the principal amount of Two
hundred twenty-five million dollars ($225,000,000), all of
which are outstanding at the date hereof;
(301) Bonds of 1993 Series B in the principal amount of
Fifty million dollars ($50,000,000), all of which are
outstanding at the date hereof;
(302) Bonds of 1993 Series E in the principal amount of Four
hundred million dollars ($400,000,000), of which Ten million
dollars ($10,000,000) principal amount have heretofore been
retired and Three hundred ninety million ($390,000,000)
principal amount are outstanding at the date hereof;
(303) Bonds of 1993 Series D in the principal amount of One
hundred million dollars ($100,000,000), all of which are
outstanding at the date hereof;
(304) Bonds of 1993 Series FP in the principal amount of
Five million six hundred eighty-five thousand dollars
($5,685,000), all of which are outstanding at the date
hereof;
(305) Bonds of 1993 Series G in the principal amount of Two
hundred twenty-five million dollars ($225,000,000), all of
which are outstanding at the date hereof;
(306) Bonds of 1993 Series J in the principal amount of
Three hundred million dollars ($300,000,000), of which
Thirty million dollars ($30,000,000) principal amount have
heretofore been retired and Two hundred seventy million
($270,000,000) principal amount are outstanding at the date
hereof;
(307) Bonds of 1993 Series IP in the principal amount of
Five million eight hundred twenty-five thousand dollars
($5,825,000), all of which are outstanding at the date
hereof;
(308) Bonds of 1993 Series AP in the principal amount of
Sixty-five million dollars ($65,000,000), all of which are
outstanding at the date hereof;
(309) Bonds of 1993 Series H in the principal amount of
Fifty million dollars ($50,000,000), all of which are
outstanding at the date hereof;
(310) Bonds of 1993 Series K in the principal amount of One
hundred sixty million dollars ($160,000,000), all of which
are outstanding at the date hereof;
(311) Bonds of 1994 Series AP in the principal amount of
Seven million five hundred thirty-five thousand dollars
($7,535,000), all of which are outstanding at the date
hereof;
(312) Bonds of 1994 Series BP in the principal amount of
Twelve million nine hundred thirty-five thousand dollars
($12,935,000), all of which are outstanding at the date
hereof;
(313) Bonds of 1994 Series C in the principal amount of Two
hundred million dollars ($200,000,000), all of which are
outstanding at the date hereof;
(314) Bonds of 1994 Series DP in the principal amount of
Twenty-three million seven hundred thousand dollars
($23,700,000), all of which are outstanding at the date
hereof;
and, accordingly, of the bonds so issued, Three billion four
hundred ninety-five million one hundred twenty-two thousand
dollars ($3,495,122,000) principal amount are outstanding at
the date hereof; and
REASON FOR WHEREAS, the Michigan Strategic Fund has agreed to issue
CREATION OF and sell $97,000,000 principal amount of its Limited
NEW SERIES. Obligation Refunding Revenue Bonds (The Detroit Edison
Company Pollution Control Bonds Project), Collateralized
Series 1995AA, in order to provide funds for the refunding
of certain pollution control related bonds previously issued
to finance pollution control projects of the Company; and
WHEREAS, the Company will enter into a Loan Agreement,
dated as of September 1, 1995, with the Michigan Strategic
Fund in connection with the issuance of the Collateralized
Series 1995AA Bonds in order to refund certain pollution
control related bonds, and pursuant to such Loan Agreement
the Company has agreed to issue its General and Refunding
Mortgage Bonds under the Indenture in order further to
secure its obligations under such Loan Agreement; and
WHEREAS, the Michigan Strategic Fund has agreed to issue
and sell $22,175,000 principal amount of its Limited
Obligation Refunding Revenue Bonds (The Detroit Edison
Company Pollution Control Bonds Project), Collateralized
Series 1995BB, in order to provide funds for the refunding
of certain pollution control related bonds previously issued
to finance pollution control projects of the Company; and
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WHEREAS, the Company will enter into a Loan Agreement,
dated as of August 1, 1995, with the Michigan Strategic Fund
in connection with the issuance of the Collateralized Series
1995BB Bonds in order to refund certain pollution control
related bonds, and pursuant to such Loan Agreement the
Company has agreed to issue its General and Refunding
Mortgage Bonds under the Indenture in order further to
secure its obligations under such Loan Agreement; and
WHEREAS, for such purposes the Company desires to issue
new series of bonds to be issued under the Indenture and to
be authenticated and delivered pursuant to Section 8 of
Article III of the Indenture; and
BONDS TO BE WHEREAS, the Company desires by this Supplemental
1995 SERIES AP AND Indenture to create new series of bonds, to be designated
1995 SERIES BP. "General and Refunding Mortgage Bonds, 1995 Series AP" and
"General and Refunding Mortgage Bonds, 1995 Series BP"; and
FURTHER WHEREAS, the Original Indenture, by its terms, includes in
ASSURANCE. the property subject to the lien thereof all of the estates
and properties, real, personal and mixed, rights, privileges
and franchises of every nature and kind and wheresoever
situate, then or thereafter owned or possessed by or
belonging to the Company or to which it was then or at any
time thereafter might be entitled in law or in equity
(saving and excepting, however, the property therein
specifically excepted or released from the lien thereof),
and the Company therein covenanted that it would, upon
reasonable request, execute and deliver such further
instruments as may be necessary or proper for the better
assuring and confirming unto the Trustee all or any part of
the trust estate, whether then or thereafter owned or
acquired by the Company (saving and excepting, however,
property specifically excepted or released from the lien
thereof); and
AUTHORIZATION WHEREAS, the Company in the exercise of the powers and
OF SUPPLEMENTAL authority conferred upon and reserved to it under and by
INDENTURE. virtue of the provisions of the Indenture, and pursuant to
resolutions of its Board of Directors has duly resolved and
determined to make, execute and deliver to the Trustee a
supplemental indenture in the form hereof for the purposes
herein provided; and
WHEREAS, all conditions and requirements necessary to make
this Supplemental Indenture a valid and legally binding
instrument in accordance with its terms have been done,
performed and fulfilled, and the execution and delivery
hereof have been in all respects duly authorized;
CONSIDERATION NOW, THEREFORE, THIS INDENTURE WITNESSETH: That The
FOR SUPPLEMENTAL Detroit Edison Company, in consideration of the premises and
INDENTURE. of the covenants contained in the Indenture and of the sum
of One Dollar ($1.00) and other good and valuable
consideration to it duly paid by the Trustee at or before
the ensealing and delivery of these presents, the receipt
whereof is hereby acknowledged, hereby covenants and agrees
to and with the Trustee and its successors in the trusts
under the Original Indenture and in said indentures
supplemental thereto as follows:
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PART I.
CREATION OF THREE HUNDRED EIGHTEENTH
SERIES OF BONDS.
GENERAL AND REFUNDING MORTGAGE BONDS,
1995 SERIES AP
CERTAIN TERMS SECTION 1. The Company hereby creates the Three hundred
OF BONDS OF eighteenth series of bonds to be issued under and secured by
1995 SERIES AP. the Original Indenture as amended to date and as further
amended by this Supplemental Indenture, to be designated,
and to be distinguished from the bonds of all other series,
by the title "General and Refunding Mortgage Bonds, 1995
Series AP" (elsewhere herein referred to as the "bonds of
1995 Series AP"). The aggregate principal amount of bonds of
1995 Series AP shall be limited to Ninety-seven million
dollars ($97,000,000), except as provided in Sections 7 and
13 of Article II of the Original Indenture with respect to
exchanges and replacements of bonds.
Each bond of 1995 Series AP is to be irrevocably assigned
to, and registered in the name of, NBD Bank, as trustee, or
a successor trustee (said trustee or any successor trustee
being hereinafter referred to as the "Strategic Fund Trust
Indenture Trustee"), under the Trust Indenture, dated as of
September 1, 1995 (hereinafter called the "Strategic Fund
Trust Indenture"), between the Michigan Strategic Fund
(hereinafter called "Strategic Fund"), and the Strategic
Fund Trust Indenture Trustee, to secure payment of the
Michigan Strategic Fund Limited Obligation Refunding Revenue
Bonds (The Detroit Edison Company Pollution Control Bonds
Project), Collateralized Series 1995AA (hereinafter called
the "Strategic Fund Revenue Bonds"), issued by the Strategic
Fund under the Strategic Fund Trust Indenture, the proceeds
of which have been provided for the refunding of certain
pollution control related bonds which the Company has agreed
to refund pursuant to the provisions of the Loan Agreement,
dated as of September 1, 1995 (hereinafter called the
"Strategic Fund Agreement"), between the Company and the
Strategic Fund.
The bonds of 1995 Series AP shall be issued as registered
bonds without coupons in denominations of a multiple of
$5,000. The bonds of 1995 Series AP shall be issued in the
aggregate principal amount of $97,000,000, shall mature on
September 1, 2025 and shall bear interest, payable
semi-annually on March 1 and September 1 of each year
(commencing March 1, 1996), at the rate of 6.40%, until the
principal thereof shall have become due and payable and
thereafter until the Company's obligation with respect to
the payment of said principal shall have been discharged as
provided in the Indenture.
The bonds of 1995 Series AP shall be payable as to
principal, premium, if any, and interest as provided in the
Indenture, but only to the extent and in the manner herein
provided. The bonds of 1995 Series AP shall be payable, both
as to principal and interest, at the office or agency of the
Company in the Borough of Manhattan, The City and State of
New York, in any coin or currency of the United States of
America which at the time of payment is legal tender for
public and private debts.
Except as provided herein, each bond of 1995 Series AP
shall be dated the date of its authentication and interest
shall be payable on the principal represented thereby from
the March 1 or September 1 next preceding the date thereof
to which interest has been paid on bonds of 1995 Series AP,
unless the bond is authenticated on a date to which interest
has been paid, in which case interest shall be payable from
the date of authentication, or unless the date of
authentication is prior to March 1, 1996, in which case
interest shall be payable from September 1, 1995.
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The bonds of 1995 Series AP in definitive form shall be,
at the election of the Company, fully engraved or shall be
lithographed or printed in authorized denominations as
aforesaid and numbered 1 and upwards (with such further
designation as may be appropriate and desirable to indicate
by such designation the form, series and denominations of
bonds of 1995 Series AP). Until bonds of 1995 Series AP in
definitive form are ready for delivery, the Company may
execute, and upon its request in writing the Trustee shall
authenticate and deliver in lieu thereof, bonds of 1995
Series AP in temporary form, as provided in Section 10 of
Article II of the Indenture. Temporary bonds of 1995 Series
AP, if any, may be printed and may be issued in authorized
denominations in substantially the form of definitive bonds
of 1995 Series AP, but with such omissions, insertions and
variations as may be appropriate for temporary bonds, all as
may be determined by the Company.
Bonds of 1995 Series AP shall not be assignable or
transferable except as may be required to effect a transfer
to any successor trustee under the Strategic Fund Trust
Indenture, or, subject to compliance with applicable law, as
may be involved in the course of the exercise of rights and
remedies consequent upon an Event of Default under the
Strategic Fund Trust Indenture. Any such transfer shall be
made upon surrender thereof for cancellation at the office
or agency of the Company in the Borough of Manhattan, The
City and State of New York, together with a written
instrument of transfer (if so required by the Company or by
the Trustee) in form approved by the Company duly executed
by the holder or by its duly authorized attorney. Bonds of
1995 Series AP shall in the same manner be exchangeable for
a like aggregate principal amount of bonds of 1995 Series AP
upon the terms and conditions specified herein and in
Section 7 of Article II of the Indenture. The Company waives
its rights under Section 7 of Article II of the Indenture
not to make exchanges or transfers of bonds of 1995 Series
AP, during any period of ten days next preceding any
redemption date for such bonds.
Bonds of 1995 Series AP, in definitive and temporary form,
may bear such legends as may be necessary to comply with any
law or with any rules or regulations made pursuant thereto
or as may be specified in the Strategic Fund Agreement.
Upon payment of the principal or premium, if any, or
interest on the Strategic Fund Revenue Bonds, whether at
maturity or prior to maturity by redemption or otherwise, or
upon provision for the payment thereof having been made in
accordance with Articles I or IV of the Strategic Fund Trust
Indenture, bonds of 1995 Series AP in a principal amount
equal to the principal amount of the Strategic Fund Revenue
Bonds, shall, to the extent of such payment of principal,
premium or interest, be deemed fully paid and the obligation
of the Company thereunder to make such payment shall
forthwith cease and be discharged, and, in the case of the
payment of principal and premium, if any, such bonds shall
be surrendered for cancellation or presented for appropriate
notation to the Trustee.
10
8
REDEMPTION SECTION 2. Bonds of 1995 Series AP shall be redeemed on
OF BONDS OF the date and in the respective principal amount which
1995 SERIES AP. correspond to the redemption date for, and the principal
amount to be redeemed of, the Strategic Fund Revenue Bonds.
In the event the Company elects to redeem any Strategic Fund
Revenue Bonds prior to maturity in accordance with the
provisions of the Strategic Fund Trust Indenture, the
Company shall on the same date redeem bonds of 1995 Series
AP in the principal amount and at the redemption price
corresponding to the Strategic Fund Revenue Bonds so
redeemed. The Company agrees to give the Trustee notice of
any such redemption of bonds of 1995 Series AP on the same
date as it gives notice of redemption of Strategic Fund
Revenue Bonds to the Strategic Fund Trust Indenture Trustee.
REDEMPTION SECTION 3. In the event of an Event of Default under the
OF BONDS OF 1995 SERIES Strategic Fund Trust Indenture and the acceleration of all
AP IN EVENT OF Strategic Fund Revenue Bonds, the bonds of 1995 Series AP
ACCELERATION shall be redeemable in whole upon receipt by the Trustee of
OF STRATEGIC FUND a written demand (hereinafter called a "Redemption Demand")
REVENUE BONDS. from the Strategic Fund Trust Indenture Trustee stating that
there has occurred under the Strategic Fund Trust Indenture
both an Event of Default and a declaration of acceleration
of payment of principal, accrued interest and premium, if
any, on the Strategic Fund Revenue Bonds, specifying the
last date to which interest on the Strategic Fund Revenue
Bonds has been paid (such date being hereinafter referred to
as the "Initial Interest Accrual Date") and demanding
redemption of the bonds of said series. The Trustee shall,
within five days after receiving such Redemption Demand,
mail a copy thereof to the Company marked to indicate the
date of its receipt by the Trustee. Promptly upon receipt by
the Company of such copy of a Redemption Demand, the Company
shall fix a date on which it will redeem the bonds of said
series so demanded to be redeemed (hereinafter called the
"Demand Redemption Date"). Notice of the date fixed as the
Demand Redemption Date shall be mailed by the Company to the
Trustee at least ten days prior to such Demand Redemption
Date. The date to be fixed by the Company as and for the
Demand Redemption Date may be any date up to and including
the earlier of (x) the 60th day after receipt by the Trustee
of the Redemption Demand or (y) the maturity date of such
bonds first occurring following the 20th day after the
receipt by the Trustee of the Redemption Demand; provided,
however, that if the Trustee shall not have received such
notice fixing the Demand Redemption Date on or before the
10th day preceding the earlier of such dates, the Demand
Redemption Date shall be deemed to be the earlier of such
dates. The Trustee shall mail notice of the Demand
Redemption Date (such notice being hereinafter called the
"Demand Redemption Notice") to the Strategic Fund Trust
Indenture Trustee not more than ten nor less than five days
prior to the Demand Redemption Date.
11
9
Each bond of 1995 Series AP shall be redeemed by the
Company on the Demand Redemption Date therefore upon
surrender thereof by the Strategic Fund Trust Indenture
Trustee to the Trustee at a redemption price equal to the
principal amount thereof plus accrued interest thereon at
the rate specified for such bond from the Initial Interest
Accrual Date to the Demand Redemption Date plus an amount
equal to the aggregate premium, if any, due and payable on
such Demand Redemption Date on all Strategic Fund Revenue
Bonds; provided, however, that in the event of a receipt by
the Trustee of a notice that, pursuant to Section 604 of the
Strategic Fund Trust Indenture, the Strategic Fund Trust
Indenture Trustee has terminated proceedings to enforce any
right under the Strategic Fund Trust Indenture, then any
Redemption Demand shall thereby be rescinded by the
Strategic Fund Trust Indenture Trustee, and no Demand
Redemption Notice shall be given, or, if already given,
shall be automatically annulled; but no such rescission or
annulment shall extend to or affect any subsequent default
or impair any right consequent thereon.
Anything herein contained to the contrary notwithstanding,
the Trustee is not authorized to take any action pursuant to
a Redemption Demand and such Redemption Demand shall be of
no force or effect, unless it is executed in the name of the
Strategic Fund Trust Indenture Trustee by its President or
one of its Vice Presidents.
FORM OF BONDS SECTION 4. The bonds of 1995 Series AP and the form of
OF 1995 SERIES AP. Trustee's Certificate to be endorsed on such bonds shall be
substantially in the following forms, respectively:
12
10
[FORM OF FACE OF BOND]
THE DETROIT EDISON COMPANY
General and Refunding Mortgage Bond
1995 Series AP, 6.40% due September 1, 2025
Notwithstanding any provisions hereof or in the Indenture,
this bond is not assignable or transferable except as may be
required to effect a transfer to any successor trustee under
the Trust Indenture, dated as of September 1, 1995 between
the Michigan Strategic Fund and NBD Bank, as trustee, or,
subject to compliance with applicable law, as may be
involved in the course of the exercise of rights and
remedies consequent upon an Event of Default under said
Trust Indenture.
$......... No..........
THE DETROIT EDISON COMPANY (hereinafter called the
"Company"), a corporation of the State of Michigan, for
value received, hereby promises to pay to the Michigan
Strategic Fund, or registered assigns, at the Company's
office or agency in the Borough of Manhattan, The City and
State of New York, the principal sum of
dollars ($ ) in lawful money of the United States
of America on the date specified in the title hereof and
interest thereon at the rate specified in the title hereof,
in like lawful money, from September 1, 1995, and after the
first payment of interest on bonds of this Series has been
made or otherwise provided for, from the most recent date to
which interest has been paid or otherwise provided for,
semi-annually on March 1 and September 1 of each year
(commencing March 1, 1996), until the Company's obligation
with respect to payment of said principal shall have been
discharged, all as provided, to the extent and in the manner
specified in the Indenture hereinafter mentioned on the
reverse hereof and in the supplemental indenture pursuant to
which this bond has been issued.
Under a Trust Indenture, dated as of September 1, 1995
(hereinafter called the "Strategic Fund Trust Indenture"),
between the Michigan Strategic Fund (hereinafter called
"Strategic Fund"), and NBD Bank, as trustee (hereinafter
called the "Strategic Fund Trust Indenture Trustee"), the
Strategic Fund has issued Limited Obligation Refunding
Revenue Bonds (The Detroit Edison Company Pollution Control
Bonds Project), Collateralized Series 1995AA (hereinafter
called the "Strategic Fund Revenue Bonds"). This bond was
originally issued to the Strategic Fund and simultaneously
irrevocably assigned to the Strategic Fund Trust Indenture
Trustee so as to secure the payment of the Strategic Fund
Revenue Bonds. Payments of principal of, or premium, if any,
or interest on, Strategic Fund Revenue Bonds shall
constitute like payments on this bond as further provided
herein and in the supplemental indenture pursuant to which
this bond has been issued.
Reference is hereby made to such further provisions of
this bond set forth on the reverse hereof and such further
provisions shall for all purposes have the same effect as
though set forth at this place.
This bond shall not be valid or become obligatory for any
purpose until Bankers Trust Company, the Trustee under the
Indenture hereinafter mentioned on the reverse hereof, or
its successor thereunder, shall have signed the form of
certificate endorsed hereon.
13
11
IN WITNESS WHEREOF, THE DETROIT EDISON COMPANY has caused
this instrument to be executed by its Chairman of the Board
and its Vice President and Treasurer, with their manual or
facsimile signatures, and its corporate seal, or a facsimile
thereof, to be impressed or imprinted hereon and the same to
be attested by its Corporate Secretary or an Assistant
Corporate Secretary with his or her manual or facsimile
signature.
Dated: THE DETROIT EDISON COMPANY
By ............................
Chairman of the Board
............................
Vice President
Attest: and Treasurer
............................
Vice President and
Corporate Secretary
14
12
[FORM OF REVERSE OF BOND]
This bond is one of an authorized issue of bonds of the
Company, unlimited as to amount except as provided in the
Indenture hereinafter mentioned or any indentures
supplemental thereto, and is one of a series of General and
Refunding Mortgage Bonds known as 1995 Series AP, limited to
an aggregate principal amount of $97,000,000, except as
otherwise provided in the Indenture hereinafter mentioned.
This bond and all other bonds of said series are issued and
to be issued under, and are all equally and ratably secured
(except insofar as any sinking, amortization, improvement or
analogous fund, established in accordance with the
provisions of the Indenture hereinafter mentioned, may
afford additional security for the bonds of any particular
series and except as provided in Section 3 of Article VI of
said Indenture) by an Indenture, dated as of October 1,
1924, duly executed by the Company to Bankers Trust Company,
a corporation of the State of New York, as Trustee, to which
Indenture and all indentures supplemental thereto (including
the Supplemental Indenture dated as of August 1, 1995)
reference is hereby made for a description of the properties
and franchises mortgaged and conveyed, the nature and extent
of the security, the terms and conditions upon which the
bonds are issued and under which additional bonds may be
issued, and the rights of the holders of the bonds and of
the Trustee in respect of such security (which Indenture and
all indentures supplemental thereto, including the
Supplemental Indenture dated as of August 1, 1995, are
hereinafter collectively called the "Indenture"). As
provided in the Indenture, said bonds may be for various
principal sums and are issuable in series, which may mature
at different times, may bear interest at different rates and
may otherwise vary as in said Indenture provided. With the
consent of the Company and to the extent permitted by and as
provided in the Indenture, the rights and obligations of the
Company and of the holders of the bonds and the terms and
provisions of the Indenture, or of any indenture
supplemental thereto, may be modified or altered in certain
respects by affirmative vote of at least eighty-five percent
(85%) in amount of the bonds then outstanding, and, if the
rights of one or more, but less than all, series of bonds
then outstanding are to be affected by the action proposed
to be taken, then also by affirmative vote of at least
eighty-five percent (85%) in amount of the series of bonds
so to be affected (excluding in every instance bonds
disqualified from voting by reason of the Company's interest
therein as specified in the Indenture); provided, however,
that, without the consent of the holder hereof, no such
modification or alteration shall, among other things, affect
the terms of payment of the principal of or the interest on
this bond, which in those respects is unconditional.
This bond is redeemable upon the terms and conditions set
forth in the Indenture, including provision for redemption
upon demand of the Strategic Fund Trust Indenture Trustee
following the occurrence of an Event of Default under the
Strategic Fund Trust Indenture and the acceleration of the
principal of the Strategic Fund Revenue Bonds.
Under the Indenture, funds may be deposited with the
Trustee (which shall have become available for payment), in
advance of the redemption date of any of the bonds of 1995
Series AP (or portions thereof), in trust for the redemption
of such bonds (or portions thereof) and the interest due or
to become due thereon, and thereupon all obligations of the
Company in respect of such bonds (or portions thereof) so to
be redeemed and such interest shall cease and be discharged,
and the holders thereof shall thereafter be restricted
exclusively to such funds for any and all claims of
whatsoever nature on their part under the Indenture or with
respect to such bonds (or portions thereof) and interest.
In case an event of default, as defined in the Indenture,
shall occur, the principal of all the bonds issued
thereunder may become or be declared due and payable, in the
manner, with the effect and subject to the conditions
provided in the Indenture.
15
13
Upon payment of the principal of, or premium, if any, or
interest on, the Strategic Fund Revenue Bonds, whether at
maturity or prior to maturity by redemption or otherwise or
upon provision for the payment thereof having been made in
accordance with Articles I or IV of the Strategic Fund Trust
Indenture, bonds of 1995 Series AP in a principal amount
equal to the principal amount of such Strategic Fund Revenue
Bonds and having both a corresponding maturity date and
interest rate shall, to the extent of such payment of
principal, premium or interest, be deemed fully paid and the
obligation of the Company thereunder to make such payment
shall forthwith cease and be discharged, and, in the case of
the payment of principal and premium, if any, such bonds of
said series shall be surrendered for cancellation or
presented for appropriate notation to the Trustee.
This bond is not assignable or transferable except as may
be required to effect a transfer to any successor trustee
under the Strategic Fund Trust Indenture, or, subject to
compliance with applicable law, as may be involved in the
course of the exercise of rights and remedies consequent
upon an Event of Default under the Strategic Fund Trust
Indenture. Any such transfer shall be made by the registered
holder hereof, in person or by his attorney duly authorized
in writing, on the books of the Company kept at its office
or agency in the Borough of Manhattan, The City and State of
New York, upon surrender and cancellation of this bond, and
thereupon, a new registered bond of the same series of
authorized denominations for a like aggregate principal
amount will be issued to the transferee in exchange
therefor, and this bond with others in like form may in like
manner be exchanged for one or more new bonds of the same
series of other authorized denominations, but of the same
aggregate principal amount, all as provided and upon the
terms and conditions set forth in the Indenture, and upon
payment, in any event, of the charges prescribed in the
Indenture.
No recourse shall be had for the payment of the principal
of or the interest on this bond, or for any claim based
hereon or otherwise in respect hereof or of the Indenture,
or of any indenture supplemental thereto, against any
incorporator, or against any past, present or future
stockholder, director or officer, as such, of the Company,
or of any predecessor or successor corporation, either
directly or through the Company or any such predecessor or
successor corporation, whether for amounts unpaid on stock
subscriptions or by virtue of any constitution, statute or
rule of law, or by the enforcement of any assessment or
penalty or otherwise howsoever; all such liability being, by
the acceptance hereof and as part of the consideration for
the issue hereof, expressly waived and released by every
holder or owner hereof, as more fully provided in the
Indenture.
16
14
[FORM OF TRUSTEE'S CERTIFICATE]
FORM OF This bond is one of the bonds, of the series designated
TRUSTEE'S therein, described in the within-mentioned Indenture.
CERTIFICATE.
BANKERS TRUST COMPANY,
as Trustee
By ...........................
Authorized Officer
17
15
PART II.
CREATION OF THREE HUNDRED NINETEENTH
SERIES OF BONDS.
GENERAL AND REFUNDING MORTGAGE BONDS,
1995 SERIES BP
CERTAIN TERMS SECTION 1. The Company hereby creates the Three hundred
OF BONDS OF nineteenth series of bonds to be issued under and secured by
1995 SERIES BP. the Original Indenture as amended to date and as further
amended by this Supplemental Indenture, to be designated,
and to be distinguished from the bonds of all other series,
by the title "General and Refunding Mortgage Bonds, 1995
Series BP" (elsewhere herein referred to as the "bonds of
1995 Series BP"). The aggregate principal amount of bonds of
1995 Series BP shall be limited to Twenty-two million one
hundred seventy-five thousand dollars ($22,175,000), except
as provided in Sections 7 and 13 of Article II of the
Original Indenture with respect to exchanges and
replacements of bonds.
Each bond of 1995 Series BP is to be irrevocably assigned
to, and registered in the name of, Comerica Bank, as
trustee, or a successor trustee (said trustee or any
successor trustee being hereinafter referred to as the
"Strategic Fund Trust Indenture Trustee"), under the Trust
Indenture, dated as of August 1, 1995 (hereinafter called
the "Strategic Fund Trust Indenture"), between the Michigan
Strategic Fund (hereinafter called "Strategic Fund"), and
the Strategic Fund Trust Indenture Trustee, to secure
payment of the Michigan Strategic Fund Limited Obligation
Refunding Revenue Bonds (The Detroit Edison Company
Pollution Control Bonds Project), Collateralized Series
1995BB (hereinafter called the "Strategic Fund Revenue
Bonds"), issued by the Strategic Fund under the Strategic
Fund Trust Indenture, the proceeds of which have been
provided for the refunding of certain pollution control
related bonds which the Company has agreed to refund
pursuant to the provisions of the Loan Agreement, dated as
of August 1, 1995 (hereinafter called the "Strategic Fund
Agreement"), between the Company and the Strategic Fund.
The bonds of 1995 Series BP shall be issued as registered
bonds without coupons in denominations of a multiple of
$5,000. The bonds of 1995 Series BP shall be issued in the
aggregate principal amount of $22,175,000, shall mature on
August 15, 2025 and shall bear interest, payable
semi-annually on February 15 and August 15 of each year
(commencing February 15, 1996), at the rate of 6.20%, until
the principal thereof shall have become due and payable and
thereafter until the Company's obligation with respect to
the payment of said principal shall have been discharged as
provided in the Indenture.
The bonds of 1995 Series BP shall be payable as to
principal, premium, if any, and interest as provided in the
Indenture, but only to the extent and in the manner herein
provided. The bonds of 1995 Series BP shall be payable, both
as to principal and interest, at the office or agency of the
Company in the Borough of Manhattan, The City and State of
New York, in any coin or currency of the United States of
America which at the time of payment is legal tender for
public and private debts.
Except as provided herein, each bond of 1995 Series BP
shall be dated the date of its authentication and interest
shall be payable on the principal represented thereby from
the February 15 or August 15 next preceding the date thereof
to which interest has been paid on bonds of 1995 Series BP,
unless the bond is authenticated on a date to which interest
has been paid, in which case interest shall be payable from
the date of authentication, or unless the date of
authentication is prior to February 15, 1996, in which case
interest shall be payable from August 1, 1995.
18
16
The bonds of 1995 Series BP in definitive form shall be,
at the election of the Company, fully engraved or shall be
lithographed or printed in authorized denominations as
aforesaid and numbered 1 and upwards (with such further
designation as may be appropriate and desirable to indicate
by such designation the form, series and denominations of
bonds of 1995 Series BP). Until bonds of 1995 Series BP in
definitive form are ready for delivery, the Company may
execute, and upon its request in writing the Trustee shall
authenticate and deliver in lieu thereof, bonds of 1995
Series BP in temporary form, as provided in Section 10 of
Article II of the Indenture. Temporary bonds of 1995 Series
BP, if any, may be printed and may be issued in authorized
denominations in substantially the form of definitive bonds
of 1995 Series BP, but with such omissions, insertions and
variations as may be appropriate for temporary bonds, all as
may be determined by the Company.
Bonds of 1995 Series BP shall not be assignable or
transferable except as may be required to effect a transfer
to any successor trustee under the Strategic Fund Trust
Indenture, or, subject to compliance with applicable law, as
may be involved in the course of the exercise of rights and
remedies consequent upon an Event of Default under the
Strategic Fund Trust Indenture. Any such transfer shall be
made upon surrender thereof for cancellation at the office
or agency of the Company in the Borough of Manhattan, The
City and State of New York, together with a written
instrument of transfer (if so required by the Company or by
the Trustee) in form approved by the Company duly executed
by the holder or by its duly authorized attorney. Bonds of
1995 Series BP shall in the same manner be exchangeable for
a like aggregate principal amount of bonds of 1995 Series BP
upon the terms and conditions specified herein and in
Section 7 of Article II of the Indenture. The Company waives
its rights under Section 7 of Article II of the Indenture
not to make exchanges or transfers of bonds of 1995 Series
BP, during any period of ten days next preceding any
redemption date for such bonds.
Bonds of 1995 Series BP, in definitive and temporary form,
may bear such legends as may be necessary to comply with any
law or with any rules or regulations made pursuant thereto
or as may be specified in the Strategic Fund Agreement.
Upon payment of the principal or premium, if any, or
interest on the Strategic Fund Revenue Bonds, whether at
maturity or prior to maturity by redemption or otherwise, or
upon provision for the payment thereof having been made in
accordance with Articles I or IV of the Strategic Fund Trust
Indenture, bonds of 1995 Series BP in a principal amount
equal to the principal amount of the Strategic Fund Revenue
Bonds, shall, to the extent of such payment of principal,
premium or interest, be deemed fully paid and the obligation
of the Company thereunder to make such payment shall
forthwith cease and be discharged, and, in the case of the
payment of principal and premium, if any, such bonds shall
be surrendered for cancellation or presented for appropriate
notation to the Trustee.
19
17
REDEMPTION SECTION 2. Bonds of 1995 Series BP shall be redeemed on
OF BONDS OF the date and in the respective principal amount which
1995 SERIES BP. correspond to the redemption date for, and the principal
amount to be redeemed of, the Strategic Fund Revenue Bonds.
In the event the Company elects to redeem any Strategic Fund
Revenue Bonds prior to maturity in accordance with the
provisions of the Strategic Fund Trust Indenture, the
Company shall on the same date redeem bonds of 1995 Series
BP in the principal amount and at the redemption price
corresponding to the Strategic Fund Revenue Bonds so
redeemed. The Company agrees to give the Trustee notice of
any such redemption of bonds of 1995 Series BP on the same
date as it gives notice of redemption of Strategic Fund
Revenue Bonds to the Strategic Fund Trust Indenture Trustee.
REDEMPTION SECTION 3. In the event of an Event of Default under the
OF BONDS OF 1995 SERIES Strategic Fund Trust Indenture and the acceleration of all
BP IN EVENT OF Strategic Fund Revenue Bonds, the bonds of 1995 Series BP
ACCELERATION shall be redeemable in whole upon receipt by the Trustee of
OF STRATEGIC FUND a written demand (hereinafter called a "Redemption Demand")
REVENUE BONDS. from the Strategic Fund Trust Indenture Trustee stating that
there has occurred under the Strategic Fund Trust Indenture
both an Event of Default and a declaration of acceleration
of payment of principal, accrued interest and premium, if
any, on the Strategic Fund Revenue Bonds, specifying the
last date to which interest on the Strategic Fund Revenue
Bonds has been paid (such date being hereinafter referred to
as the "Initial Interest Accrual Date") and demanding
redemption of the bonds of said series. The Trustee shall,
within five days after receiving such Redemption Demand,
mail a copy thereof to the Company marked to indicate the
date of its receipt by the Trustee. Promptly upon receipt by
the Company of such copy of a Redemption Demand, the Company
shall fix a date on which it will redeem the bonds of said
series so demanded to be redeemed (hereinafter called the
"Demand Redemption Date"). Notice of the date fixed as the
Demand Redemption Date shall be mailed by the Company to the
Trustee at least ten days prior to such Demand Redemption
Date. The date to be fixed by the Company as and for the
Demand Redemption Date may be any date up to and including
the earlier of (x) the 60th day after receipt by the Trustee
of the Redemption Demand or (y) the maturity date of such
bonds first occurring following the 20th day after the
receipt by the Trustee of the Redemption Demand; provided,
however, that if the Trustee shall not have received such
notice fixing the Demand Redemption Date on or before the
10th day preceding the earlier of such dates, the Demand
Redemption Date shall be deemed to be the earlier of such
dates. The Trustee shall mail notice of the Demand
Redemption Date (such notice being hereinafter called the
"Demand Redemption Notice") to the Strategic Fund Trust
Indenture Trustee not more than ten nor less than five days
prior to the Demand Redemption Date.
20
18
Each bond of 1995 Series BP shall be redeemed by the
Company on the Demand Redemption Date therefore upon
surrender thereof by the Strategic Fund Trust Indenture
Trustee to the Trustee at a redemption price equal to the
principal amount thereof plus accrued interest thereon at
the rate specified for such bond from the Initial Interest
Accrual Date to the Demand Redemption Date plus an amount
equal to the aggregate premium, if any, due and payable on
such Demand Redemption Date on all Strategic Fund Revenue
Bonds; provided, however, that in the event of a receipt by
the Trustee of a notice that, pursuant to Section 604 of the
Strategic Fund Trust Indenture, the Strategic Fund Trust
Indenture Trustee has terminated proceedings to enforce any
right under the Strategic Fund Trust Indenture, then any
Redemption Demand shall thereby be rescinded by the
Strategic Fund Trust Indenture Trustee, and no Demand
Redemption Notice shall be given, or, if already given,
shall be automatically annulled; but no such rescission or
annulment shall extend to or affect any subsequent default
or impair any right consequent thereon.
Anything herein contained to the contrary notwithstanding,
the Trustee is not authorized to take any action pursuant to
a Redemption Demand and such Redemption Demand shall be of
no force or effect, unless it is executed in the name of the
Strategic Fund Trust Indenture Trustee by its President or
one of its Vice Presidents.
FORM OF BONDS SECTION 4. The bonds of 1995 Series BP and the form of
OF 1995 SERIES BP. Trustee's Certificate to be endorsed on such bonds shall be
substantially in the following forms, respectively:
21
19
[FORM OF FACE OF BOND]
THE DETROIT EDISON COMPANY
General and Refunding Mortgage Bond
1995 Series BP, 6.20% due August 15, 2025
Notwithstanding any provisions hereof or in the Indenture,
this bond is not assignable or transferable except as may be
required to effect a transfer to any successor trustee under
the Trust Indenture, dated as of August 1, 1995 between the
Michigan Strategic Fund and Comerica Bank, as trustee, or,
subject to compliance with applicable law, as may be
involved in the course of the exercise of rights and
remedies consequent upon an Event of Default under said
Trust Indenture.
$......... No..........
THE DETROIT EDISON COMPANY (hereinafter called the
"Company"), a corporation of the State of Michigan, for
value received, hereby promises to pay to the Michigan
Strategic Fund, or registered assigns, at the Company's
office or agency in the Borough of Manhattan, The City and
State of New York, the principal sum of
dollars ($ ) in lawful money of the United States
of America on the date specified in the title hereof and
interest thereon at the rate specified in the title hereof,
in like lawful money, from August 1, 1995, and after the
first payment of interest on bonds of this Series has been
made or otherwise provided for, from the most recent date to
which interest has been paid or otherwise provided for,
semi-annually on February 15 and August 15 of each year
(commencing February 15, 1996), until the Company's
obligation with respect to payment of said principal shall
have been discharged, all as provided, to the extent and in
the manner specified in the Indenture hereinafter mentioned
on the reverse hereof and in the supplemental indenture
pursuant to which this bond has been issued.
Under a Trust Indenture, dated as of August 1, 1995
(hereinafter called the "Strategic Fund Trust Indenture"),
between the Michigan Strategic Fund (hereinafter called
"Strategic Fund"), and Comerica Bank, as trustee
(hereinafter called the "Strategic Fund Trust Indenture
Trustee"), the Strategic Fund has issued Limited Obligation
Refunding Revenue Bonds (The Detroit Edison Company
Pollution Control Bonds Project), Collateralized Series
1995BB (hereinafter called the "Strategic Fund Revenue
Bonds"). This bond was originally issued to the Strategic
Fund and simultaneously irrevocably assigned to the
Strategic Fund Trust Indenture Trustee so as to secure the
payment of the Strategic Fund Revenue Bonds. Payments of
principal of, or premium, if any, or interest on, Strategic
Fund Revenue Bonds shall constitute like payments on this
bond as further provided herein and in the supplemental
indenture pursuant to which this bond has been issued.
Reference is hereby made to such further provisions of
this bond set forth on the reverse hereof and such further
provisions shall for all purposes have the same effect as
though set forth at this place.
This bond shall not be valid or become obligatory for any
purpose until Bankers Trust Company, the Trustee under the
Indenture hereinafter mentioned on the reverse hereof, or
its successor thereunder, shall have signed the form of
certificate endorsed hereon.
22
20
IN WITNESS WHEREOF, THE DETROIT EDISON COMPANY has caused
this instrument to be executed by its Chairman of the Board
and its Vice President and Treasurer, with their manual or
facsimile signatures, and its corporate seal, or a facsimile
thereof, to be impressed or imprinted hereon and the same to
be attested by its Corporate Secretary or an Assistant
Corporate Secretary with his or her manual or facsimile
signature.
Dated: THE DETROIT EDISON COMPANY
By ............................
Chairman of the Board
............................
Vice President
Attest: and Treasurer
............................
Vice President and
Corporate Secretary
23
21
[FORM OF REVERSE OF BOND]
This bond is one of an authorized issue of bonds of the
Company, unlimited as to amount except as provided in the
Indenture hereinafter mentioned or any indentures
supplemental thereto, and is one of a series of General and
Refunding Mortgage Bonds known as 1995 Series BP, limited to
an aggregate principal amount of $22,175,000, except as
otherwise provided in the Indenture hereinafter mentioned.
This bond and all other bonds of said series are issued and
to be issued under, and are all equally and ratably secured
(except insofar as any sinking, amortization, improvement or
analogous fund, established in accordance with the
provisions of the Indenture hereinafter mentioned, may
afford additional security for the bonds of any particular
series and except as provided in Section 3 of Article VI of
said Indenture) by an Indenture, dated as of October 1,
1924, duly executed by the Company to Bankers Trust Company,
a corporation of the State of New York, as Trustee, to which
Indenture and all indentures supplemental thereto (including
the Supplemental Indenture dated as of August 1, 1995)
reference is hereby made for a description of the properties
and franchises mortgaged and conveyed, the nature and extent
of the security, the terms and conditions upon which the
bonds are issued and under which additional bonds may be
issued, and the rights of the holders of the bonds and of
the Trustee in respect of such security (which Indenture and
all indentures supplemental thereto, including the
Supplemental Indenture dated as of August 1, 1995, are
hereinafter collectively called the "Indenture"). As
provided in the Indenture, said bonds may be for various
principal sums and are issuable in series, which may mature
at different times, may bear interest at different rates and
may otherwise vary as in said Indenture provided. With the
consent of the Company and to the extent permitted by and as
provided in the Indenture, the rights and obligations of the
Company and of the holders of the bonds and the terms and
provisions of the Indenture, or of any indenture
supplemental thereto, may be modified or altered in certain
respects by affirmative vote of at least eighty-five percent
(85%) in amount of the bonds then outstanding, and, if the
rights of one or more, but less than all, series of bonds
then outstanding are to be affected by the action proposed
to be taken, then also by affirmative vote of at least
eighty-five percent (85%) in amount of the series of bonds
so to be affected (excluding in every instance bonds
disqualified from voting by reason of the Company's interest
therein as specified in the Indenture); provided, however,
that, without the consent of the holder hereof, no such
modification or alteration shall, among other things, affect
the terms of payment of the principal of or the interest on
this bond, which in those respects is unconditional.
This bond is redeemable upon the terms and conditions set
forth in the Indenture, including provision for redemption
upon demand of the Strategic Fund Trust Indenture Trustee
following the occurrence of an Event of Default under the
Strategic Fund Trust Indenture and the acceleration of the
principal of the Strategic Fund Revenue Bonds.
Under the Indenture, funds may be deposited with the
Trustee (which shall have become available for payment), in
advance of the redemption date of any of the bonds of 1995
Series BP (or portions thereof), in trust for the redemption
of such bonds (or portions thereof) and the interest due or
to become due thereon, and thereupon all obligations of the
Company in respect of such bonds (or portions thereof) so to
be redeemed and such interest shall cease and be discharged,
and the holders thereof shall thereafter be restricted
exclusively to such funds for any and all claims of
whatsoever nature on their part under the Indenture or with
respect to such bonds (or portions thereof) and interest.
In case an event of default, as defined in the Indenture,
shall occur, the principal of all the bonds issued
thereunder may become or be declared due and payable, in the
manner, with the effect and subject to the conditions
provided in the Indenture.
24
22
Upon payment of the principal of, or premium, if any, or
interest on, the Strategic Fund Revenue Bonds, whether at
maturity or prior to maturity by redemption or otherwise or
upon provision for the payment thereof having been made in
accordance with Articles I or IV of the Strategic Fund Trust
Indenture, bonds of 1995 Series BP in a principal amount
equal to the principal amount of such Strategic Fund Revenue
Bonds and having both a corresponding maturity date and
interest rate shall, to the extent of such payment of
principal, premium or interest, be deemed fully paid and the
obligation of the Company thereunder to make such payment
shall forthwith cease and be discharged, and, in the case of
the payment of principal and premium, if any, such bonds of
said series shall be surrendered for cancellation or
presented for appropriate notation to the Trustee.
This bond is not assignable or transferable except as may
be required to effect a transfer to any successor trustee
under the Strategic Fund Trust Indenture, or, subject to
compliance with applicable law, as may be involved in the
course of the exercise of rights and remedies consequent
upon an Event of Default under the Strategic Fund Trust
Indenture. Any such transfer shall be made by the registered
holder hereof, in person or by his attorney duly authorized
in writing, on the books of the Company kept at its office
or agency in the Borough of Manhattan, The City and State of
New York, upon surrender and cancellation of this bond, and
thereupon, a new registered bond of the same series of
authorized denominations for a like aggregate principal
amount will be issued to the transferee in exchange
therefor, and this bond with others in like form may in like
manner be exchanged for one or more new bonds of the same
series of other authorized denominations, but of the same
aggregate principal amount, all as provided and upon the
terms and conditions set forth in the Indenture, and upon
payment, in any event, of the charges prescribed in the
Indenture.
No recourse shall be had for the payment of the principal
of or the interest on this bond, or for any claim based
hereon or otherwise in respect hereof or of the Indenture,
or of any indenture supplemental thereto, against any
incorporator, or against any past, present or future
stockholder, director or officer, as such, of the Company,
or of any predecessor or successor corporation, either
directly or through the Company or any such predecessor or
successor corporation, whether for amounts unpaid on stock
subscriptions or by virtue of any constitution, statute or
rule of law, or by the enforcement of any assessment or
penalty or otherwise howsoever; all such liability being, by
the acceptance hereof and as part of the consideration for
the issue hereof, expressly waived and released by every
holder or owner hereof, as more fully provided in the
Indenture.
25
23
[FORM OF TRUSTEE'S CERTIFICATE]
FORM OF This bond is one of the bonds, of the series designated
TRUSTEE'S therein, described in the within-mentioned Indenture.
CERTIFICATE.
BANKERS TRUST COMPANY,
as Trustee
By ...........................
Authorized Officer
26
24
PART III.
RECORDING AND FILING DATA
RECORDING AND The Original Indenture and indentures supplemental
FILING OF ORIGINAL thereto have been recorded and/or filed and Certificates of
INDENTURE. Provision for Payment have been recorded as hereinafter set
forth.
The Original Indenture has been recorded as a real
estate mortgage and filed as a chattel mortgage in the
offices of the respective Registers of Deeds of certain
counties in the State of Michigan as set forth in the
Supplemental Indenture dated as of September 1, 1947, has
been recorded as a real estate mortgage in the office of the
Register of Deeds of Genesee County, Michigan as set forth
in the Supplemental Indenture dated as of May 1, 1974, has
been filed in the Office of the Secretary of State of
Michigan on November 16, 1951 and has been filed and
recorded in the office of the Interstate Commerce Commission
on December 8, 1969.
RECORDING AND Pursuant to the terms and provisions of the Original
FILING OF Indenture, indentures supplemental thereto heretofore
SUPPLEMENTAL entered into have been recorded as a real estate mortgage
INDENTURES. and/or filed as a chattel mortgage or as a financing
statement in the offices of the respective Registers of
Deeds of certain counties in the State of Michigan, the
Office of the Secretary of State of Michigan and the Office
of the Interstate Commerce Commission, as set forth in
supplemental indentures as follows:
RECORDED AND/OR
FILED AS SET FORTH IN
SUPPLEMENTAL PURPOSE OF SUPPLEMENTAL
INDENTURE SUPPLEMENTAL INDENTURE
DATED AS OF INDENTURE DATED AS OF:
------------ ------------ ---------------------
June 1, 1925(a)(b)................ Series B Bonds February 1, 1940
August 1, 1927(a)(b).............. Series C Bonds February 1, 1940
February 1, 1931(a)(b)............ Series D Bonds February 1, 1940
June 1, 1931(a)(b)................ Subject Properties February 1, 1940
October 1, 1932(a)(b)............. Series E Bonds February 1, 1940
September 25, 1935(a)(b).......... Series F Bonds February 1, 1940
September 1, 1936(a)(b)........... Series G Bonds February 1, 1940
November 1, 1936(a)(b)............ Subject Properties February 1, 1940
February 1, 1940(a)(b)............ Subject Properties September 1, 1947
December 1, 1940(a)(b)............ Series H Bonds and September 1, 1947
Additional Provisions
September 1, 1947(a)(b)(c)........ Series I Bonds, November 15, 1951
Subject Properties and
Additional Provisions
March 1, 1950(a)(b)(c)............ Series J Bonds November 15, 1951
and Additional Provisions
November 15, 1951(a)(b)(c)........ Series K Bonds January 15, 1953
Additional Provisions and
Subject Properties
January 15, 1953(a)(b)............ Series L Bonds May 1, 1953
May 1, 1953(a).................... Series M Bonds March 15, 1954
and Subject Properties
March 15, 1954(a)(c).............. Series N Bonds May 15, 1955
and Subject Properties
May 15, 1955(a)(c)................ Series O Bonds August 15, 1957
and Subject Properties
August 15, 1957(a)(c)............. Series P Bonds June 1, 1959
Additional Provisions and
Subject Properties
June 1, 1959(a)(c)................ Series Q Bonds December 1, 1966
and Subject Properties
December 1, 1966(a)(c)............ Series R Bonds October 1, 1968
Additional Provisions and
Subject Properties
27
25
RECORDED AND/OR
FILED AS SET FORTH IN
SUPPLEMENTAL PURPOSE OF SUPPLEMENTAL
INDENTURE SUPPLEMENTAL INDENTURE
DATED AS OF INDENTURE DATED AS OF:
------------ ------------ ---------------------
October 1, 1968(a)(c)............. Series S Bonds December 1, 1969
and Subject Properties
December 1, 1969(a)(c)............ Series T Bonds July 1, 1970
and Subject Properties
July 1, 1970(c)................... Series U Bonds December 15, 1970
and Subject Properties
December 15, 1970(c).............. Series V and June 15, 1971
Series W Bonds
June 15, 1971(c).................. Series X Bonds November 15, 1971
and Subject Properties
November 15, 1971(c).............. Series Y Bonds January 15, 1973
and Subject Properties
January 15, 1973(c)............... Series Z Bonds May 1, 1974
and Subject Properties
May 1, 1974....................... Series AA Bonds October 1, 1974
and Subject Properties
October 1, 1974................... Series BB Bonds January 15, 1975
and Subject Properties
January 15, 1975.................. Series CC Bonds November 1, 1975
and Subject Properties
November 1, 1975.................. Series DDP Nos. 1-9 Bonds December 15, 1975
and Subject Properties
December 15, 1975................. Series XX Xxxxx February 1, 1976
and Subject Properties
February 1, 1976.................. Series FFR Nos. 1-13 Bonds June 15, 1976
June 15, 1976..................... Series GGP Nos. 1-7 Bonds July 15, 1976
and Subject Properties
July 15, 1976..................... Series XX Xxxxx February 15, 1977
and Subject Properties
February 15, 1977................. Series MMP Bonds and Subject March 1, 1977
Properties
March 1, 1977..................... Series IIP Nos. 1-7 Bonds, June 15, 1977
Series JJP Nos. 1-7 Bonds,
Series KKP Nos. 1-7 Bonds
and Series LLP Nos. 1-7
Bonds
June 15, 1977..................... Series FFR No. 14 Bonds and July 1, 1977
Subject Properties
July 1, 1977...................... Series NNP Nos. 1-7 Bonds October 1, 1977
and Subject Properties
October 1, 1977................... Series GGP Nos. 8-22 Bonds June 1, 1978
and Series OOP Nos. 1-17
Bonds and Subject
Properties
June 1, 1978...................... Series PP Bonds, October 15, 1978
Series QQP Nos. 1-9 Bonds
and Subject Properties
October 15, 1978.................. Series XX Xxxxx March 15, 1979
and Subject Properties
March 15, 1979.................... Series SS Bonds July 1, 1979
and Subject Properties
28
26
RECORDED AND/OR
FILED AS SET FORTH IN
SUPPLEMENTAL PURPOSE OF SUPPLEMENTAL
INDENTURE SUPPLEMENTAL INDENTURE
DATED AS OF INDENTURE DATED AS OF:
------------ ------------ ---------------------
July 1, 1979...................... Series IIP Nos. 8-22 Bonds, September 1, 1979
Series NNP Nos. 8-21 Bonds
and Series TTP Nos. 1-15
Bonds and Subject
Properties
September 1, 1979................. Series JJP No. 8 Bonds, September 15, 1979
Series KKP No. 8 Bonds,
Series LLP Nos. 8-15
Bonds, Series MMP No. 2
Bonds and Series OOP No.
18 Bonds and Subject
Properties
September 15, 1979................ Series UU Bonds January 1, 1980
January 1, 1980................... 1980 Series A Bonds and April 1, 1980
Subject Properties
April 1, 1980..................... 1980 Series B Bonds August 15, 1980
August 15, 1980................... Series QQP Nos. 10-19 Bonds, August 1, 1981
1980 Series CP Nos. 1-12
Bonds and 1980 Series DP
No. 1-11 Bonds and Subject
Properties
August 1, 1981.................... 1980 Series CP Nos. 13-25 November 1, 1981
Bonds and Subject
Properties
November 1, 1981.................. 1981 Series AP Nos. 1-12 June 30, 1982
Bonds
June 30, 1982..................... Article XIV Reconfirmation August 15, 1982
August 15, 1982................... 1981 Series AP Nos. 13-14 June 1, 1983
and Subject Properties
June 1, 1983...................... 1981 Series AP Nos. 15-16 October 1, 1984
and Subject Properties
October 1, 1984................... 1984 Series AP and 1984 May 1, 1985
Series BP Bonds and
Subject Properties
May 1, 1985....................... 1985 Series A Bonds May 15, 1985
May 15, 1985...................... 1985 Series B Bonds and October 15, 1985
Subject Properties
October 15, 1985.................. Series KKP No. 9 Bonds and April 1, 1986
Subject Properties
April 1, 1986..................... 1986 Series A and Subject August 15, 1986
Properties
August 15, 1986................... 1986 Series B and Subject November 30, 1986
Properties
November 30, 1986................. 1986 Series C January 31, 1987
January 31, 1987.................. 1987 Series A April 1, 1987
April 1, 1987..................... 1987 Series B and 1987 August 15, 1987
Series C
August 15, 1987................... 1987 Series D and 1987 November 30, 1987
Series E and Subject
Properties
November 30, 1987................. 1987 Series F June 15, 1989
June 15, 1989..................... 1989 Series A July 15, 1989
29
27
RECORDED AND/OR
FILED AS SET FORTH IN
SUPPLEMENTAL PURPOSE OF SUPPLEMENTAL
INDENTURE SUPPLEMENTAL INDENTURE
DATED AS OF INDENTURE DATED AS OF:
------------ ------------ ---------------------
July 15, 1989..................... Series KKP No. 10 December 1, 1989
December 1, 1989.................. Series KKP No. 11 and 1989 February 15, 1990
Series BP
February 15, 1990................. 1990 Series A, 1990 Series November 1, 1990
B, 1990 Series C, 1990
Series D, 1990 Series E
and 1990 Series F
November 1, 1990.................. Series KKP No. 12 April 1, 1991
April 1, 1991..................... 1991 Series AP May 1, 1991
May 1, 1991....................... 1991 Series BP and 1991 May 15, 1991
Series CP
May 15, 1991...................... 1991 Series DP September 1, 1991
September 1, 1991................. 1991 Series EP November 1, 1991
November 1, 1991.................. 1991 Series FP January 15, 1992
January 15, 1992.................. 1992 Series BP February 29, 1992 and
April 15, 1992
February 29, 1992................. 1992 Series AP April 15, 1992
April 15, 1992.................... Series KKP No. 13 July 15, 1992
July 15, 1992..................... 1992 Series CP November 30, 1992
July 31, 1992..................... 1992 Series D November 30, 1992
April 1, 1986..................... 1986 Series A and Subject August 15, 1986
Properties
August 15, 1986................... 1986 Series B and Subject November 30, 1986
Properties
November 30, 1986................. 1986 Series C January 31, 1987
January 31, 1987.................. 1987 Series A April 1, 1987
April 1, 1987..................... 1987 Series B and 1987 August 15, 1987
Series C
August 15, 1987................... 1987 Series D and 1987 November 30, 1987
Series E and Subject
Properties
November 30, 1987................. 1987 Series F June 15, 1989
June 15, 1989..................... 1989 Series A July 15, 1989
July 15, 1989..................... Series KKP No. 10 December 1, 1989
December 1, 1989.................. Series KKP No. 11 and 1989 February 15, 1990
Series BP
February 15, 1990................. 1990 Series A, 1990 Series November 1, 1990
B, 1990 Series C, 1990
Series D, 1990 Series E
and 1990 Series F
November 1, 1990.................. Series KKP No. 12 April 1, 1991
April 1, 1991..................... 1991 Series AP May 1, 1991
May 1, 1991....................... 1991 Series BP and 1991 May 15, 1991
Series CP
May 15, 1991...................... 1991 Series DP September 1, 1991
September 1, 1991................. 1991 Series EP November 1, 1991
November 1, 1991.................. 1991 Series FP January 15, 1992
30
28
RECORDED AND/OR
FILED AS SET FORTH IN
SUPPLEMENTAL PURPOSE OF SUPPLEMENTAL
INDENTURE SUPPLEMENTAL INDENTURE
DATED AS OF INDENTURE DATED AS OF:
------------ ------------ ---------------------
January 15, 1992.................. 1992 Series BP February 29, 1992 and
April 15, 1992
February 29, 1992................. 1992 Series AP April 15, 1992
April 15, 1992.................... Series KKP No. 13 July 15, 1992
July 15, 1992..................... 1992 Series CP November 30, 1992
November 30, 1992................. 1992 Series E and 1993 March 15, 1993
Series D
December 15, 1992................. Series KKP Xx. 00 xxx 0000 Xxxxx 00, 0000
Xxxxxx XX Xx. 0
January 1, 1993................... 1993 Series C April 1, 1993
March 1, 1993..................... 1993 Series E June 30, 1993
March 15, 1993.................... 1993 Series D September 15, 1993
April 1, 1993..................... 1993 Series FP and 1993 September 15, 1993
Series IP
April 26, 1993.................... 1993 Series G and Amendment September 15, 1993
of Article II, Section 5
May 31, 1993...................... 1993 Series J September 15, 1993
September 15, 1993................ 1993 Series K Xxxxx 0, 0000
Xxxxx 1, 1994..................... 1994 Series AP June 15, 1994
June 15, 1994..................... 1994 Series BP December 1, 1994
August 15, 1994................... 1994 Series C December 1, 1994
December 1, 1994.................. Series KKP No. 15 and 1994 August 1, 1995
Series DP
------------------------------------------
(a) See Supplemental Indenture dated as of July 1, 1970 for
Interstate Commerce Commission filing and recordation
information.
(b) See Supplemental Indenture dated as of May 1, 1953 for
Secretary of State of Michigan filing information.
(c) See Supplemental Indenture dated as of May 1, 1974 for
County of Genesee, Michigan recording and filing
information.
31
29
Further, pursuant to the terms and provisions of the
Original Indenture, a Supplemental Indenture dated as
December 1, 1994 providing for the terms of bonds to be
issued thereunder of Series KKP No. 15 and 1994 Series DP
has heretofore been entered into between the Company and the
Trustee and has been filed in the Office of the Secretary of
State of Michigan as a financing statement on March 29, 1994
(Filing No. 41262B), has been filed and recorded in the
Office of the Interstate Commerce Commission (Recordation
No. 5485-MMMM) on March 29, 1994, and has been recorded as a
real estate mortgage in the offices of the respective
Register of Deeds of certain counties in the State of
Michigan, as follows:
LIBER OF
MORTGAGES
OR COUNTY
COUNTY RECORDED RECORDS PAGE
------ -------- --------- ----
Genesee......................................... 3-30-94 3013 800-823
Huron........................................... 3-29-94 623 481-504
Xxxxxx.......................................... 3-30-94 2164 976-999
Lapeer.......................................... 3-29-94 850 362-385
Lenawee......................................... 3-29-94 1306 122-145
Xxxxxxxxxx...................................... 3-29-94 1812 0662-0685
Macomb.......................................... 3-29-94 06275 627-650
Xxxxx........................................... 3-29-94 438 1607-1630
Monroe.......................................... 3-30-94 1371 0909-0932
Oakland......................................... 3-29-94 14565 148-171
St. Clair....................................... 3-29-94 1338 776-799
Sanilac......................................... 3-29-94 454 784-807
Tuscola......................................... 3-30-94 656 497-520
Washtenaw....................................... 3-29-94 2956 926-949
Xxxxx........................................... 3-29-94 27268 90-113
32
30
RECORDING OF All the bonds of Series A which were issued under the
CERTIFICATES Original Indenture dated as of October 1, 1924, and of
OF PROVISION Series B, C, D, E, F, G, H, I, J, K, L, M, N, O, P, Q, W, Y,
FOR PAYMENT. X, XX, XX, XX, XXX Xxx. 0-0, XXX Nos. 1-14, GGP Nos. 1-22,
HH, IIP Nos. 1-22, JJP Nos. 1-8, KKP Nos. 1-8, LLP Nos.
1-15, NNP Nos. 1-21, OOP Nos. 1-18, QQP Nos. 1-17, TTP Nos.
1-15, XX, 0000 Series A, 1980 Series CP Nos. 1-25, 1980
Series DP Nos. 1-11, 1981 Series AP Nos. 1-16, 1984 Series
AP, 1984 Series BP, 1985 Series A, 1985 Series B, 1987
Series A, PP, RR, EE, MMP, MMP No. 2 and 1989 Series A which
were issued under Supplemental Indentures dated as of,
respectively, June 1, 1925, August 1, 1927, February 1,
1931, October 1, 1932, September 25, 1935, September 1,
1936, December 1, 1940, September 1, 1947, November 15,
1951, January 15, 1953, May 1, 1953, March 15, 1954, May 15,
1955, August 15, 1957, December 15, 1970, November 15, 1971,
January 15, 1973, May 1, 1974, October 1, 1974, January 15,
1975, November 1, 1975, February 1, 1976, June 15, 1976,
July 15, 1976, October 1, 1977, March 1, 1977, July 1, 1979,
March 1, 1977, March 1, 1977, March 1, 1977, September 1,
1979, July 1, 1977, July 1, 1979, September 15, 1979,
October 1, 1977, June 1, 1978, October 1, 1977, July 1,
1979, January 1, 1980, August 15, 1980, November 1, 1981,
October 1, 1984, May 1, 1985, May 15, 1985, January 31,
1987, June 1, 1978, October 15, 1978, December 15, 1975,
February 15, 1977, September 1, 1979 and June 15, 1989 have
matured or have been called for redemption and funds
sufficient for such payment or redemption have been
irrevocably deposited with the Trustee for that purpose; and
Certificates of Provision for Payment have been recorded in
the offices of the respective Registers of Deeds of certain
counties in the State of Michigan, with respect to all bonds
of Series A, B, C, D, E, F, G, H, K, L, M, O, W, BB, CC, DDP
Nos. 1 and 2, FFR Nos. 1-3, GGP Nos. 1 and 2, IIP Xx. 0, XXX
Xx. 0, XXX Xx. 0, XXX No. 1 and GGP No. 8.
PART IV.
THE TRUSTEE.
TERMS AND The Trustee hereby accepts the trust hereby declared and
CONDITIONS OF provided, and agrees to perform the same upon the terms and
ACCEPTANCE OF conditions in the Original Indenture, as amended to date and
TRUST BY TRUSTEE. as supplemented by this Supplemental Indenture, and in this
Supplemental Indenture set forth, and upon the following
terms and conditions:
The Trustee shall not be responsible in any manner
whatsoever for and in respect of the validity or sufficiency
of this Supplemental Indenture or the due execution hereof
by the Company or for or in respect of the recitals
contained herein, all of which recitals are made by the
Company solely.
PART V.
MISCELLANEOUS.
CONFIRMATION OF Except to the extent specifically provided therein, no
SECTION 318(C) OF provision of this supplemental indenture or any future
TRUST INDENTURE supplemental indenture is intended to modify, and the
ACT parties do hereby adopt and confirm, the provisions of
Section 318(c) of the Trust Indenture Act which amend and
supercede provisions of the Indenture in effect prior to
November 15, 1990.
EXECUTION IN THIS SUPPLEMENTAL INDENTURE MAY BE SIMULTANEOUSLY
COUNTERPARTS. EXECUTED IN ANY NUMBER OF COUNTERPARTS, EACH OF WHICH WHEN
SO EXECUTED SHALL BE DEEMED TO BE AN ORIGINAL; BUT SUCH
COUNTERPARTS SHALL TOGETHER CONSTITUTE BUT ONE AND THE SAME
INSTRUMENT.
33
31
TESTIMONIUM. IN WITNESS WHEREOF, THE DETROIT EDISON COMPANY AND
BANKERS TRUST COMPANY HAVE CAUSED THESE PRESENTS TO BE
SIGNED IN THEIR RESPECTIVE CORPORATE NAMES BY THEIR
RESPECTIVE CHAIRMEN OF THE BOARD, PRESIDENTS, VICE
PRESIDENTS, ASSISTANT VICE PRESIDENTS, TREASURERS OR
ASSISTANT TREASURERS AND IMPRESSED WITH THEIR RESPECTIVE
CORPORATE SEALS, ATTESTED BY THEIR RESPECTIVE SECRETARIES,
ASSISTANT SECRETARIES, TREASURERS OR ASSISTANT TREASURERS
ALL AS OF THE DAY AND YEAR FIRST ABOVE WRITTEN.
THE DETROIT EDISON COMPANY,
(Corporate Seal) By ____________________
X. X. Xxxxxx
Assistant Treasurer
EXECUTION. Attest:
_______________________________
Xxxxxx X. Xxxxxxx
Assistant Corporate Secretary
Signed, sealed and delivered by THE DETROIT
EDISON COMPANY, in the presence of
_______________________________
Xxxx X. Xxxxxx
_______________________________
Xxxxx X. Xxxxx
STATE OF MICHIGAN
SS.:
COUNTY OF XXXXX
ACKNOWLEDGEMENT On this day of August, 1995, before me, the subscriber,
OF EXECUTION a Notary Public within and for the County of Xxxxx, in the
BY COMPANY. State of Michigan, personally appeared X. X. Xxxxxx, to me
personally known, who, being by me duly sworn, did say that
he does business at 0000 Xxxxxx Xxxxxx, Xxxxxxx, Xxxxxxxx
00000 and is the Assistant Treasurer of THE DETROIT EDISON
COMPANY, one of the corporations described in and which
executed the foregoing instrument; that he knows the
corporate seal of the said corporation and that the seal
affixed to said instrument is the corporate seal of said
corporation; and that said instrument was signed and sealed
in behalf of said corporation by authority of its Board of
Directors and that he subscribed his name thereto by like
authority; and said X. X. Xxxxxx, acknowledged said
instrument to be the free act and deed of said corporation.
___________________________
(Notarial Seal) Xxxxxx Xxxx, Notary Public
Xxxxx County, MI
My Commission Expires 6-6-99
34
32
BANKERS TRUST COMPANY,
(Corporate Seal) By ________________________
Xxxxx XxXxxxxxx
Assistant Vice President
Attest:
_________________________
Xxxxx Xxxxx
Assistant Treasurer
Signed, sealed and delivered by
BANKERS TRUST COMPANY, in the
presence of
_________________________
Xxxx Xxxxxxxxxxx
_________________________
Xxxxx X. Xxxxxxxxx
STATE OF NEW YORK
SS.:
COUNTY OF NEW YORK
ACKNOWLEDGEMENT On this day of August, 1995, before me, the subscriber,
OF EXECUTION a Notary Public within and for the County of New York, in
BY TRUSTEE. the State of New York, personally appeared Xxxxx XxXxxxxxx,
to me personally known, who, being by me duly sworn, did say
that his business office is located at Four Xxxxxx Xxxxxx,
Xxx Xxxx, Xxx Xxxx 00000, and he is Assistant Vice President
of BANKERS TRUST COMPANY, one of the corporations described
in and which executed the foregoing instrument; that he
knows the corporate seal of the said corporation and that
the seal affixed to said instrument is the corporate seal of
said corporation; and that said instrument was signed and
sealed in behalf of said corporation by authority of its
Board of Directors and that he subscribed his name thereto
by like authority; and said Xxxxx XxXxxxxxx acknowledged
said instrument to be the free act and deed of said
corporation.
(Notarial Seal)
________________________________
Xxxxx Xxxxx
Notary Public, State of New York
No. 00-0000000
Qualified in Kings County
Commission Expires 2-16-96
35
33
STATE OF MICHIGAN
SS.:
COUNTY OF XXXXX
AFFIDAVIT AS TO X. X. Xxxxxx, being duly sworn, says: that he is the
CONSIDERATION Assistant Treasurer of THE DETROIT EDISON COMPANY, the
AND GOOD FAITH. Mortgagor named in the foregoing instrument, and that he has
knowledge of the facts in regard to the making of said
instrument and of the consideration therefor; that the
consideration for said instrument was and is actual and
adequate, and that the same was given in good faith for the
purposes in such instrument set forth.
________________
X. X. Xxxxxx
Sworn to before me this day of
August, 1995
___________________________
Xxxxxx Xxxx, Notary Public
Xxxxx County, MI
My Commission Expires 6-6-99
(Notarial Seal)
This instrument was drafted by Xxxxxxx X. Xxxxxxx, Esq., 0000 Xxxxxx
Xxxxxx, Xxxxxxx, Xxxxxxxx 00000
