Common use of Issue of Bonds Clause in Contracts

Issue of Bonds. The Company has authorized the issue of Fifteen Million Dollars ($15,000,000) in aggregate principal amount of its First Mortgage Bonds, Series D 5.64%, due October 1, 2024 (herein called the "Bonds"). The Bonds will be issued under and pursuant to the Fourth Amendment and Supplement to Indenture of Mortgage and Deed of Trust Dated October 1, 1986 (the "Fourth Supplemental Indenture"), dated as of October 19, 2004, between the Company and U.S. Bank National Association, as trustee (the "Trustee"). The Fourth Supplemental Indenture modifies and amends that certain Indenture of Mortgage and Deed of Trust dated October 1, 1986 (the "Original Indenture") between the Company and Security Pacific National Bank, a national banking association, predecessor to Bank of America NT & SA, predecessor to U.S. Bank Trust National Association (originally named First Trust of California, National Association), predecessor to the Trustee. The Original Indenture was amended by (i) the First Amendment and Supplement to Indenture of Mortgage and Deed of Trust Dated October 1, 1986 (the "First Supplemental Indenture"), dated as of February 7, 1990, (ii) the Second Amendment and Supplement to Indenture of Mortgage and Deed of Trust dated October 1, 1986 (the "Second Supplemental Indenture"), dated as of January 24, 1992, (iii) the Third Amendment and Supplement to Indenture of Mortgage and Deed of Trust dated October 1, 1986 (the "Third Supplemental Indenture") dated as of October 9, 1996 and (iv) the Fourth Supplemental Indenture (the Original Indenture as so amended and as may be further amended from time to time, being the "Indenture"). The Bonds will be secured pursuant to and entitled to all of the benefits of the Indenture. Certain capitalized terms used in this Agreement are defined in Section 5.1 of this Agreement; references to a "Schedule," "Annex" or "Exhibit" are, unless otherwise specified, to a Schedule, Annex or Exhibit attached to this Agreement. Each Bond: (a) will be in the amount of One Thousand Dollars ($1,000) or an integral multiple thereof; (b) will bear interest (computed on the basis of a 360-day year of twelve 30-day months) on the unpaid principal balance thereof from the date of the Bond at the rate of five and sixty-four hundredths percent (5.64%) per annum, payable semiannually on the first (1st) day of each April and October in each year commencing on the first Interest Payment Date next succeeding the date of such Bond until the principal amount thereof will be due and payable; provided that interest on any overdue principal, overdue Redemption Price and (to the extent permitted by applicable law) overdue interest, shall accrue at a rate equal to the lesser of (i) the highest rate allowed by applicable law or (ii) six and sixty-four hundredths percent (6.64%) per annum; (c) will mature on October 1, 2024; and (d) will be in the form of Bond set forth in Exhibit A to this Agreement.

Issue of Bonds. The Company has authorized the issue of Fifteen Ten Million Dollars ($15,000,00010,000,000) in aggregate principal amount of its First Mortgage Bonds, Series D 5.64E 6.295%, due October 120, 2024 2026 (herein called the "“Bonds"”). The Bonds will be issued under and pursuant to the Fourth Fifth Amendment and Supplement to Indenture of Mortgage and Deed of Trust Dated October 1, 1986 (the "Fourth “Fifth Supplemental Indenture"”), dated as of October 1920, 20042006, between the Company and U.S. Bank National Association, as trustee (the "“Trustee"”). The Fourth Fifth Supplemental Indenture modifies and amends that certain Indenture of Mortgage and Deed of Trust dated Dated October 1, 1986 (the "“Original Indenture"”) between the Company and Security Pacific National Bank, a national banking association, predecessor to Bank of America NT & SA, predecessor to U.S. Bank Trust National Association (originally named First Trust of California, National Association), predecessor to the Trustee. The Original Indenture was amended by (i) the First Amendment and Supplement to Indenture of Mortgage and Deed of Trust Dated October 1, 1986 (the "“First Supplemental Indenture"”), dated as of February 7, 1990, (ii) the Second Amendment and Supplement to Indenture of Mortgage and Deed of Trust dated Dated October 1, 1986 (the "“Second Supplemental Indenture"”), dated as of January 24, 1992, (iii) the Third Amendment and Supplement to Indenture of Mortgage and Deed of Trust dated Dated October 1, 1986 (the "“Third Supplemental Indenture") ”), dated as of October 9, 1996 and 1996, (iv) the Fourth Amendment and Supplement to Indenture of Mortgage and Deed of Trust Dated October 1, 1986 (the “Fourth Supplemental Indenture”), dated as of October 19, 2004, and (v) the Fifth Amendment and Supplement to Indenture of Mortgage and Deed of Trust Dated October 1, 1986 (the “Fifth Supplemental Indenture”), dated as of October 20, 2006 (the Original Indenture as so amended and as may be further amended from time to time, being the "“Indenture"”). The Bonds will be secured pursuant to and entitled to all of the benefits of the Indenture. Certain capitalized terms used in this Agreement are defined in Section 5.1 of this Agreement; references to a "“Schedule," "” “Annex" ” or "“Exhibit" ” are, unless otherwise specified, to a Schedule, Annex or Exhibit attached to this Agreement. Each Bond: (a) will be in the amount of One Thousand Dollars ($1,0001,000.00) or an integral multiple thereof; (b) will bear interest (computed on the basis of a 360-day year of twelve 30-day months) on the unpaid principal balance thereof from the date of the Bond at the rate of six decimal two nine five and sixty-four hundredths percent (5.646.295%) per annum, payable semiannually on the first twentieth (1st20th) day of each April and October in each year commencing on the first Interest Payment Date next succeeding the date of such Bond until the principal amount thereof will be due and payable; provided that interest on any overdue principal, overdue Redemption Price and (to the extent permitted by applicable law) overdue interest, shall accrue at a rate equal to the lesser of (i) the highest rate allowed by applicable law or (ii) six and sixty-four hundredths seven decimal two nine five percent (6.647.295%) per annum; (c) will mature on October 120, 20242026; and (d) will be in the form of Bond set forth in Exhibit A to this Agreement.

Issue of Bonds. The Company has authorized the issue of Fifteen Twelve Million Dollars ($15,000,00012,000,000) in aggregate principal amount of its First Mortgage Bonds, Series D 5.64C, 6.10%, due October December 1, 2024 (herein called the "Bonds"). The Bonds will be issued under and pursuant to the Fourth Third Amendment and Supplement to Indenture of Mortgage and Deed of Trust Dated October 1dated February 14, 1986 1992 (the "Fourth Third Supplemental Indenture"), dated as of October 19December 15, 2004, between the Company and U.S. Bank National AssociationXxxxx Fargo Bank, N.A., as trustee (the "Trustee"). The Fourth Third Supplemental Indenture modifies and amends that certain Indenture of Mortgage and Deed of Trust Mortgage, dated October 1February 14, 1986 1992 (the "Original Indenture") ), between the Company and Security Pacific Sunwest Bank of Albuquerque, National Association, which later became Nations Bank, a national banking associationN.A., predecessor to Xxxxx Fargo Bank of America NT & SANew Mexico, predecessor to U.S. Bank Trust National Association (originally named First Trust of California, National Association)N.A., predecessor to the Trustee. The Original Indenture was amended by (i) the First Amendment and Supplement to Indenture of Mortgage and Deed of Trust Dated October 1dated February 14, 1986 1992 (the "First Supplemental Indenture"), dated as of February 7May 15, 19901992, (ii) the Second Amendment and Supplement to Indenture of Mortgage and Deed of Trust dated October 1February 14, 1986 1992 (the "Second Supplemental Indenture"), dated as of January 24, 1992, (iii) the Third Amendment and Supplement to Indenture of Mortgage and Deed of Trust dated October 1, 1986 (the "Third Supplemental Indenture") dated as of October 921, 1996 1996, and (iviii) the Fourth Third Supplemental Indenture (the Original Indenture as so amended and as may be further amended from time to time, being the "Indenture"). The Bonds will be secured pursuant to and entitled to all of the benefits of the Indenture. Certain capitalized terms used in this Agreement are defined in Section 5.1 of this Agreement; references . References to a "Schedule," "Annex" or "Exhibit" are, unless otherwise specified, to a Schedule, Annex or Exhibit attached to this Agreement. Each Bond: (a) will be in the amount of One Thousand Dollars ($1,000) or an integral multiple thereof; (b) will bear interest (computed on the basis of a 360-day year of twelve 30-day months) on the unpaid principal balance thereof from the date of the Bond at the rate of five and sixty-four hundredths percent (5.64%) 6.10% per annum, payable semiannually on the first (1st) day of each April June and October December in each year commencing on the first Interest Payment Date next succeeding the date of such Bond until the principal amount thereof will be due and payable; provided that interest on any overdue principal, overdue Redemption Price and (to the fullest extent permitted by applicable law) overdue interest, shall accrue at a rate equal to the lesser of (i) the highest rate allowed by applicable law or (ii) six and sixty-four ten hundredths percent (6.646.10%) per annum; (c) will mature on October December 1, 2024; and (d) will be in the form of Bond set forth in Exhibit A to this Agreement.

Issue of Bonds. The Company has authorized the issue of Fifteen Eight Million Dollars ($15,000,0008,000,000) in aggregate principal amount of its First Mortgage Bonds, Series D 5.64C 7.61%, due Due October 120, 2024 2006 (herein called the "Bonds"). The Bonds will be issued under and pursuant to the Fourth Third Amendment and Supplement to Indenture of Mortgage and Deed of Trust Dated October 1, 1986 (the "Fourth Third Supplemental Indenture"), dated as of October 199, 20041996, between the Company and U.S. Bank First Trust of California, National Association, as trustee (the "Trustee"). The Fourth Third Supplemental Indenture modifies and amends that certain Indenture of Mortgage and Deed of Trust between the Company and the Trustee, dated October 1, 1986 (the "Original Indenture") between the Company and Security Pacific National Bank, a national banking association, predecessor to Bank of America NT & SA, predecessor to U.S. Bank Trust National Association (originally named First Trust of California, National Association), predecessor to the Trustee. The Original Indenture was as amended by (i) the First Amendment and Supplement to Indenture of Mortgage and Deed of Trust Dated October 1, 1986 (the "First Supplemental Indenture"), dated as of February 77,1990, 1990between the Company and the Trustee, (ii) the Second Amendment and Supplement to Indenture of and Mortgage and Deed of Trust dated October 1, 1986 (the "Second Supplemental Indenture"), dated as of January 24, 1992, between the Company and the Trustee and (iii) the Third Amendment and Supplement to Indenture of Mortgage and Deed of Trust dated October 1, 1986 (the "Third Supplemental Indenture") dated as of October 9, 1996 and (iv) the Fourth Supplemental Indenture (the Original Indenture as so amended and as may be further amended from time to time, being the "Indenture"). The Bonds will be secured pursuant to and entitled to all of the benefits of the Indenture. Certain capitalized terms used in this Agreement are defined in Section 5.1 of this Agreement; references to a "Schedule," "Annex" or "Exhibit" are, unless otherwise specified, to a Schedule, Annex or Exhibit attached to this Agreement. Each BondEACH BOND: (a) will be in the amount of One Thousand Dollars ($1,000) or an integral multiple thereof; (b) will bear interest (computed on the basis of a 360-day year of twelve 30-day months) on the unpaid principal balance thereof from the date of the Bond at the rate of five seven and sixty-four one one-hundredths percent (5.647.61%) per annum, payable semiannually on the first twentieth (1st20th) day of each April and October in each year commencing on the first Interest Payment Date next succeeding the date of such Bond bond until the principal amount thereof will be due and payable; provided that , and thereafter will bear interest on any overdue principal, overdue Redemption Price and (to the extent permitted by applicable law) overdue interest, shall accrue at a rate equal to the lesser of (i) the highest rate allowed by applicable law or (ii) six eight and sixty-four one one-hundredths percent (6.648.61%) per annum; (c) will mature on October 120, 20242006; and (d) will be in the form of Bond set forth in Exhibit A to this Agreement.