As Successor Trustee under Mortgage and Deed of Trust, dated as of June 1, 1939
Exhibit 4.1
#6150151
AVISTA CORPORATIONTO
CITIBANK, N.A.
As Successor Trustee under
Mortgage and Deed of Trust,
dated as of June 1, 1939
________________________
Sixty-fourth Supplemental Indenture
Providing among other things for a series of bonds designated
“First Mortgage Bonds, 3.07% Series due 2050”
Due September 30, 2050
________________________
Dated as of September 1, 2020
SIXTY-FOURTH SUPPLEMENTAL INDENTURE
THIS INDENTURE, dated as of the 1st day of September, 2020, between AVISTA CORPORATION (formerly known as The Washington Water Power Company), a corporation of the State of Washington, whose post office address is 0000 Xxxx Xxxxxxx Xxxxxx, Xxxxxxx, Xxxxxxxxxx 00000 (the “Company”), and CITIBANK, N.A., formerly First National City Bank (successor by merger to First National City Trust Company, formerly City Bank Farmers Trust Company), a national banking association incorporated and existing under the laws of the United States of America, whose post office address is 000 Xxxxxxxxx Xxxxxx, 00xx Xxxxx, Xxx Xxxx, Xxx Xxxx 00000, as trustee (the “Trustee”), under the Mortgage and Deed of Trust, dated as of June 1, 1939 (the “Original Mortgage”), executed and delivered by the Company to secure the payment of bonds issued or to be issued under and in accordance with the provisions thereof, this indenture (this “Sixty-fourth Supplemental Indenture”) being supplemental to the Original Mortgage, as heretofore supplemented and amended.
WHEREAS pursuant to a written request of the Company made in accordance with Section 103 of the Original Mortgage, Xxxxxxx X. Xxxx (then Individual Trustee under the Original Mortgage, as theretofore supplemented and amended) ceased to be a trustee thereunder on July 23, 1969, and all of his powers as Individual Trustee have devolved upon the Trustee and its successors alone; and
WHEREAS by the Original Mortgage the Company covenanted that it would execute and deliver such further instruments and do such further acts as might be necessary or proper to carry out more effectually the purposes of the Original Mortgage and to make subject to the lien of the Original Mortgage any property thereafter acquired intended to be subject to the lien thereof; and
WHEREAS the Company has heretofore executed and delivered, in addition to the Original Mortgage, the indentures supplemental thereto and amendatory thereof, and has issued the series of bonds, set forth in Exhibit A hereto (the Original Mortgage, as supplemented and amended by the First through Sixty-third Supplemental Indentures and, if the context shall so require, as to be supplemented by this Sixty-fourth Supplemental Indenture, being herein sometimes called the “Mortgage”); and
WHEREAS the Original Mortgage and the First Supplemental Indenture, dated as of October 1, 1952, through the Twenty-fifth Supplemental Indenture, dated as of October 1, 1989, were appropriately filed and recorded in the various official records in the States of Washington, Idaho and Montana, as set forth in such Supplemental Indentures and in the Twenty-sixth Supplemental Indenture, dated as of April 1, 1993; and
WHEREAS for the purpose of confirming or perfecting the lien of the Original Mortgage, as then supplemented and amended, on additional properties of the Company located in the State of Oregon and additional counties in the State of Montana, the Company executed and delivered a Short Form Mortgage and Security Agreement, in multiple counterparts dated as of various dates in 1992, in furtherance of and supplemental to the Original Mortgage, as then supplemented and amended, and such instrument was appropriately filed and recorded in the
1
various official records in Oregon and Montana, as set forth in the aforesaid Twenty-sixth Supplemental Indenture; and
WHEREAS the aforesaid Twenty-sixth Supplemental Indenture through the Twenty-ninth Supplemental Indenture, dated as of December 1, 2001, were appropriately filed and recorded in the various official records in the States of Washington, Idaho, Montana and Oregon, as set forth in the Twenty-seventh Supplemental Indenture, dated as of January 1, 1994, through the Thirtieth Supplemental Indenture, dated as of May 1, 2002; and
WHEREAS for the purpose of confirming or perfecting the lien of the Original Mortgage, as then supplemented and amended, on all its properties (other than specifically excepted property), including all real properties owned in fee, which were specifically described or referred to in Exhibit B to such instrument, all easements and other interests in and rights to use real property and all equipment and fixtures, the Company executed and delivered an Instrument of Further Assurance, dated as of December 15, 2001, in furtherance of and supplemental to the Original Mortgage, as then supplemented and amended, and such instrument was appropriately filed and recorded in the various official records in the States of Washington, Idaho, Montana and Oregon; and
WHEREAS for the purpose of confirming or perfecting the lien of the Original Mortgage, as then supplemented and amended, on additional properties of the Company located in an additional county in the State of Oregon, the Company executed and delivered a Memorandum of Mortgage and Security Agreement, dated as of May 29, 2003, in furtherance of and supplemental to the Original Mortgage, as then supplemented and amended, and such instrument was appropriately filed and recorded in the various official records in the State of Oregon; and
WHEREAS the aforesaid Thirtieth Supplemental Indenture through the Sixty-second Supplemental Indenture, dated as of November 1, 2019, were appropriately filed and recorded in the various official records in the States of Washington, Idaho, Montana and Oregon, as set forth in the Thirty-first Supplemental Indenture, dated as of May 1, 2003, through the Sixty- third Supplemental Indenture, dated as of June 1, 2020; and
WHEREAS the Sixty-third Supplemental Indenture, dated as of June 1, 2020, has been appropriately filed or recorded in the various official records in the States of Washington, Idaho, Montana and Oregon, as set forth in Exhibit B hereto; and
WHEREAS in addition to the property described in the Mortgage the Company has acquired certain other property, rights and interests in property; and
WHEREAS Section 120 of the Original Mortgage, as heretofore amended, provides that, without the consent of any holders of bonds, the Company and the Trustee, at any time and from time to time, may enter into indentures supplemental to the Original Mortgage for various purposes set forth therein, including, without limitation, to cure ambiguities or correct defective or inconsistent provisions or to make other changes therein that shall not adversely affect the interests of the holders of bonds of any series in any material respect or to establish the form or terms of bonds of any series as contemplated by Article II; and
2
WHEREAS the Company now desires to create a new series of bonds; and
WHEREAS Section 8 of the Original Mortgage, as heretofore amended, provides that the form of each series of bonds (other than the First Series) issued thereunder and of the coupons to be attached to coupon bonds of such series shall be established by Resolution of the Board of Directors of the Company or by Treasurer’s Certificate, or shall be set forth in an indenture supplemental to the Original Mortgage; that the form of such series, as so established, shall specify the descriptive title of the bonds and various other terms thereof; and that such series may also contain such provisions not inconsistent with the provisions of the Mortgage as the Company may, in its discretion, cause to be inserted therein expressing or referring to the terms and conditions upon which such bonds are to be issued and/or secured under the Mortgage; and
WHEREAS the execution and delivery by the Company of this Sixty-fourth Supplemental Indenture and the terms of the Bonds of the Sixty‑fifth Series, hereinafter referred to, have been duly authorized by the Board of Directors of the Company by appropriate Resolutions of said Board of Directors, and all things necessary to make this Sixty-fourth Supplemental Indenture a valid, binding and legal instrument have been performed;
NOW, THEREFORE, THIS INDENTURE WITNESSETH: That the Company, in consideration of the premises and of other good and valuable consideration, the receipt and sufficiency whereof are hereby acknowledged, hereby confirms the estate, title and rights of the Trustee (including, without limitation, the lien of the Mortgage on the property of the Company subjected thereto, whether now owned or hereafter acquired) held as security for the payment of both the principal of and interest and premium, if any, on the bonds from time to time issued under the Mortgage according to their tenor and effect and the performance of all the provisions of the Mortgage and of such bonds, and, without limiting the generality of the foregoing, hereby confirms the grant, bargain, sale, release, conveyance, assignment, transfer, mortgage, pledge, setting over and confirmation unto the Trustee, contained in the Mortgage, of all the following described properties of the Company, whether now owned or hereafter acquired, namely:
All of the property, real, personal and mixed, of every character and wheresoever situated (except any hereinafter or in the Mortgage expressly excepted) which the Company now owns or, subject to the provisions of Section 87 of the Original Mortgage, may hereafter acquire prior to the satisfaction and discharge of the Mortgage, as fully and completely as if herein or in the Mortgage specifically described, and including (without in anywise limiting or impairing by the enumeration of the same the scope and intent of the foregoing or of any general description contained in Mortgage) all lands, real estate, easements, servitudes, rights of way and leasehold and other interests in real estate; all rights to the use or appropriation of water, flowage rights, water storage rights, flooding rights, and other rights in respect of or relating to water; all plants for the generation of electricity, power houses, dams, dam sites, reservoirs, flumes, raceways, diversion works, head works, waterways, water works, water systems, gas plants, steam heat plants, hot water plants, ice or refrigeration plants, stations, substations, offices, buildings and other works and structures and the equipment thereof and all improvements, extensions and additions thereto; all
3
generators, machinery, engines, turbines, boilers, dynamos, transformers, motors, electric machines, switchboards, regulators, meters, electrical and mechanical appliances, conduits, cables, pipes and mains; all lines and systems for the transmission and distribution of electric current, gas, steam heat or water for any purpose; all towers, mains, pipes, poles, pole lines, conduits, cables, wires, switch racks, insulators, compressors, pumps, fittings, valves and connections; all motor vehicles and automobiles; all tools, implements, apparatus, furniture, stores, supplies and equipment; all franchises (except the Company’s franchise to be a corporation), licenses, permits, rights, powers and privileges; and (except as hereinafter or in the Mortgage expressly excepted) all the right, title and interest of the Company in and to all other property of any kind or nature.
The Company hereby acknowledges that, as of the date of this Sixty-fourth Supplemental Indenture, the real property located in the State of Washington, taken as a whole, that is so conveyed or intended to be so conveyed under the Mortgage is not used principally for agricultural purposes.
The property so conveyed or intended to be so conveyed under the Mortgage shall include, but shall not be limited to, the property set forth in Exhibit C hereto, the particular description of which is intended only to aid in the identification thereof and shall not be construed as limiting the force, effect and scope of the foregoing.
TOGETHER WITH all and singular the tenements, hereditaments and appurtenances belonging or in anywise appertaining to the aforesaid property or any part thereof, with the reversion and reversions, remainder and remainders and (subject to the provisions of Section 57 of the Original Mortgage) the tolls, rents, revenues, issues, earnings, income, product and profits thereof, and all the estate, right, title and interest and claim whatsoever, at law as well as in equity, which the Company now has or may hereafter acquire in and to the aforesaid property and franchises and every part and parcel thereof.
THE COMPANY HEREBY CONFIRMS that, subject to the provisions of Section 87 of the Original Mortgage, all the property, rights, and franchises acquired by the Company after the date of the Original Mortgage (except any in the Mortgage expressly excepted) are and shall be as fully embraced within the lien of the Mortgage as if such property, rights and franchises had been owned by the Company at the date of the Original Mortgage and had been specifically described therein.
PROVIDED THAT the following were not and were not intended to be then or now or hereafter granted, bargained, sold, released, conveyed, assigned, transferred, mortgaged, pledged, set over or confirmed under the Mortgage and were, are and shall be expressly excepted from the lien and operation of the Mortgage namely: (1) cash, shares of stock and obligations (including bonds, notes and other securities) not hereafter specifically pledged, paid, deposited or delivered under the Mortgage or covenanted so to be; (2) merchandise, equipment, materials or supplies held for the purpose of sale in the usual course of business or for consumption in the operation of any properties of the Company; (3) bills, notes and accounts receivable, and all contracts, leases and operating agreements not specifically pledged under the Mortgage or covenanted so to be; (4) electric energy and other materials or products generated, manufactured,
4
produced or purchased by the Company for sale, distribution or use in the ordinary course of its business; and (5) any property heretofore released pursuant to any provisions of the Mortgage and not heretofore disposed of by the Company; provided, however, that the property and rights expressly excepted from the lien and operation of the Mortgage in the above subdivisions (2) and (3) shall (to the extent permitted by law) cease to be so excepted in the event that the Trustee or a receiver or trustee shall enter upon and take possession of the Mortgaged and Pledged Property in the manner provided in Article XII of the Original Mortgage by reason of the occurrence of a Completed Default as defined in said Article XII.
TO HAVE AND TO HOLD all such properties, real, personal and mixed, granted, bargained, sold, released, conveyed, assigned, transferred, mortgaged, pledged, set over or confirmed by the Company in the Mortgage as aforesaid, or intended so to be, unto the Trustee, and its successors, heirs and assigns forever.
IN TRUST NEVERTHELESS, for the same purposes and upon the same terms, trusts and conditions and subject to and with the same provisos and covenants as set forth in the Mortgage, this Sixty-fourth Supplemental Indenture being supplemental to the Mortgage.
AND IT IS HEREBY FURTHER CONFIRMED by the Company that all the terms, conditions, provisos, covenants and provisions contained in the Mortgage shall affect and apply to the property in the Mortgage described and conveyed, and to the estates, rights, obligations and duties of the Company and the Trustee and the beneficiaries of the trust with respect to said property, and to the Trustee and its successors in the trust, in the same manner and with the same effect as if the said property had been owned by the Company at the time of the execution of the Original Mortgage, and had been specifically and at length described in and conveyed to said Trustee by the Original Mortgage as a part of the property therein stated to be conveyed.
The Company further covenants and agrees to and with the Trustee and its successor or successors in such trust under the Mortgage, as follows:
ARTICLE I
Sixty-fifth Series of Bonds
SECTION 1. (I)There shall be a series of bonds designated “First Mortgage Bonds, 3.07% Series due 2050” (herein sometimes referred to as the “Bonds of the Sixty-fifth Series” or the “Bonds”), each of which shall also bear the descriptive title First Mortgage Bond and the form thereof is set forth on Exhibit D hereto. The Bonds of the Sixty-fifth Series shall be issued as fully registered bonds in denominations of One Thousand Dollars and, at the option of the Company, any amount in excess thereof (the exercise of such option to be evidenced by the execution and delivery thereof) and shall be dated as in Section 10 of the Original Mortgage provided.
(II)The Bonds of the Sixty-fifth Series shall have the following terms and characteristics:
5
(a)the Bonds of the Sixty-fifth Series shall be limited in aggregate principal amount to $165,000,000 (except for Bonds of such series authenticated and delivered upon transfer of or in exchange for, or in lieu of, other Bonds of such series);
(b)the principal of the Bonds of the Sixty-fifth Series shall (unless theretofore paid) be payable on the Stated Maturity Date (as hereinafter defined);
(c)the Bonds of the Sixty-fifth Series shall bear interest at the rate of three and seven one-hundredths per centum (3.07%) per annum; interest on the Bonds shall accrue from and including September 30, 2020, except as otherwise provided in the form of bond attached hereto as Exhibit D; interest on the Bonds shall be payable on each Interest Payment Date and at Maturity (as each of such terms is hereinafter defined); and interest on the Bonds during any period less than one year for which payment is made shall be computed on the basis of a 360-day year consisting of twelve 30-days months;
(d)the principal of and premium, if any, and interest on each Bond of the Sixty-fifth Series payable at Maturity shall be payable to the registered owner thereof upon presentation thereof at the office or agency of the Company in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for public and private debts. The interest on each Bond of the Sixty-fifth Series (other than interest payable at Maturity) shall be payable by check, in similar coin or currency, mailed to the registered owner thereof as of the close of business on the Record Date (as hereinafter defined) next preceding each Interest Payment Date; provided, however, that if such registered owner shall be a securities depositary, such payment may be made by such other means in lieu of check as shall be agreed upon by the Company, the Trustee and such registered owner; and, provided, further, that, so long as any Bond of the Sixty-fifth Series shall be held by (i) the original purchaser thereof under the Bond Purchase Agreement (as hereinafter defined) or (ii) any other Institutional Investor (as hereinafter defined) that (A) is the direct or indirect transferee of such Bond from such original purchaser and (B) has made the same agreement relating to such Bond as such original purchaser made in Section 8.2 of the Bond Purchase Agreement, payment of principal of and premium, if any, and interest on such Bond of the Sixty-fifth Series shall be payable in the manner specified in the Bond Purchase Agreement. Interest payable at Maturity shall be paid to the person to whom principal shall be paid.
(e)(i)Prior to the Par Call Date (as hereinafter defined), the Bonds of the Sixty-fifth Series shall be redeemable in whole at any time, or in part from time to time, at the option of the Company at a redemption price equal to the greater of
(A)100% of the principal amount of the Bonds being redeemed and
(B)the sum of the present values of the remaining scheduled payments of principal of and interest on the Bonds being redeemed (assuming, for this purpose, that the Bonds were stated to mature on the Par Call Date and excluding any portion of any scheduled payment of interest that accrued prior to the redemption date), discounted to the date of redemption on a semiannual basis
6
(assuming a 360-day year consisting of twelve 30-day months) at a discount rate equal to the Treasury Yield (as hereinafter defined) plus 50 basis points,
plus, in the case of either (A) or (B) above, whichever is applicable, accrued and unpaid interest on such Bonds to the date of redemption.
(ii)On or after the Par Call Date, the Bonds of the Sixty-fifth Series shall be redeemable in whole at any time, or in part from time to time, at the option of the Company at a redemption price equal to 100% of the principal amount of the Bonds being redeemed plus accrued and unpaid interest on such Bonds to the date of redemption.
(f)(i)“Par Call Date” means March 31, 2050.
(ii)“Treasury Yield” means, with respect to any redemption of Bonds of the Sixty-fifth Series,
(A)the yield to maturity reported in the Statistical Release, for the latest day for which such yields have been so reported as of the Calculation Date, for the U.S. Treasury constant maturity with a term equal to the remaining term of such Bonds (assuming, for this purpose, that the Bonds were stated to mature on the Par Call Date), or
(B)if there is no such U.S. Treasury constant maturity having a term equal to such remaining term, the yield to maturity determined by linear interpolation between (I) the U.S. Treasury constant maturity reported in the Statistical Release with the term next longer than such remaining term and (II) the U.S. Treasury constant maturity so reported with the term next shorter than such remaining term.
The Treasury Yield shall be rounded to two decimal places. The Treasury Yield shall be calculated as of the third Business Day (as hereinafter defined) preceding the earlier of (X) the date notice of redemption is mailed to holders of Bonds of the Sixty-fifth Series and (Y) the date irrevocable arrangements with the Trustee for the mailing of such notice shall have been made, as the case may be (the “Calculation Date”).
(iii)“Statistical Release” means the daily statistical release entitled “H.15 Selected Interest Rates”, or any successor publication, published by the Board of Governors of the Federal Reserve System, or any successor entity; or, if such Board of Governors no longer publishes the information contained in such statistical release, a publication containing similar information published by the U.S. Department of the Treasury, or any successor or other U.S. governmental body.
(g)If less than all of the outstanding Bonds of the Sixty‑fifth Series are to be redeemed, the principal amount to be redeemed shall be prorated among all of the holders of the Bonds in the proportion that their respective holdings bear to the aggregate principal amount of the Bonds outstanding on the date of selection. The portion of any Bond to be redeemed shall be in the principal amount of $1,000 or an
7
integral multiple thereof and such rounding allocations as may be requisite for this purpose shall be made by the Trustee in its uncontrolled discretion. The Trustee shall promptly notify the Company in writing of the distinctive numbers of the Bonds and the portions thereof so selected for redemption.
(h)Except as provided in this subsection (II) of Section 1,
(i)the Bonds of the Sixty-fifth Series shall not be redeemable prior to the Stated Maturity Date; and
(ii)no amount other than the principal of and interest on the Bonds of the Sixty-fifth Series shall be payable in respect of the Bonds.
(i)in the event of any conflict between the provisions of Section 12.2(c) of the Bond Purchase Agreement and the provisions of the Mortgage, Section 12.2(c) of the Bond Purchase Agreement shall govern.
(III)At the option of the registered owner, any Bonds of the Sixty-fifth Series, upon surrender thereof for cancellation at the office or agency of the Company in the Borough of Manhattan, The City of New York, shall be exchangeable for a like aggregate principal amount of Bonds of the same series of other authorized denominations.
The Bonds of the Sixty-fifth Series shall be transferable, upon the surrender thereof for cancellation, together with a written instrument of transfer in form approved by the registrar duly executed by the registered owner or by his duly authorized attorney, at the office or agency of the Company in the Borough of Manhattan, The City of New York.
Upon any exchange or transfer of Bonds of the Sixty-fifth Series, the Company may make a charge therefor sufficient to reimburse it for any tax or taxes or other governmental charge, as provided in Section 12 of the Original Mortgage, but the Company hereby waives any right to make a charge in addition thereto or any exchange or transfer of Bonds of the Sixty-fifth Series; provided, however, that the Company shall not be required to make any transfer or exchange of any Bonds of the Sixty-fifth Series for a period of 10 days next preceding any Interest Payment Date or any selection of such Bonds for redemption, nor shall it be required to make any transfer or exchange of any Bonds of the Sixty-fifth Series which shall have been selected for redemption in whole or in part.
Unless and until the Company shall have delivered to the Trustee a written order to the contrary, the Bonds of the Sixty-fifth Series shall bear a legend as to restrictions on transfer substantially as set forth below:
The Bonds evidenced hereby have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), and may not be offered, sold, pledged or otherwise transferred in contravention of the Securities Act.
(IV)For all purposes of this Sixty-fourth Supplemental Indenture, except as otherwise expressly provided or unless the context otherwise requires, the terms listed below,
8
when used with respect to the Bonds of the Sixty-fifth Series, shall have the meanings specified below:
“Bond Purchase Agreement” means the Bond Purchase Agreement, dated August 13, 2020, between the Company and the purchasers listed on Schedule A thereto.
“Business Day” means any day, other than a Saturday or Sunday, which is not a day on which banking institutions or trust companies in The City of New York, New York are generally authorized or required by law, regulation or executive order to remain closed.
“Institutional Investor” means (a) any original purchaser of a Bond of the Sixty-fifth Series, (b) any holder of a Bond of the Sixty-fifth Series holding (together with one or more of its affiliates) more than $1,000,000 in aggregate principal amount of the Bonds of the Sixty-fifth Series, and (c) any bank, trust company, savings and loan association or other financial institution, any pension plan, any investment company, any insurance company, any broker or dealer, or any other similar financial institution or entity, regardless of legal form.
“Interest Payment Date” means March 31 and September 30 in each year, commencing March 31, 2021.
“Maturity” means the date on which the principal of the Bonds of the Sixty-fifth Series becomes due and payable, whether at the Stated Maturity Date, upon redemption or acceleration, or otherwise.
“Record Date”, with respect to any Interest Payment Date, means the close of business on the seventh Business Day preceding such Interest Payment Date.
“Stated Maturity Date” means September 30, 2050.
(V)Notwithstanding the provisions of Section 106 of the Original Mortgage, as amended, the Company shall not cause any Bonds of the Sixty-fifth Series, or any portion of the principal amount thereof, to be deemed to have been paid as provided in such Section and its obligations in respect thereof to be deemed to be satisfied and discharged prior to the Maturity thereof unless the Company shall deliver to the Trustee either:
(a)an instrument wherein the Company, notwithstanding the effect of Section 106 of the Original Mortgage, as amended, in respect of such Bonds, shall assume the obligation (which shall be absolute and unconditional) to irrevocably deposit with the Trustee such additional sums of money, if any, or additional government obligations (meeting the requirements of Section 106), if any, or any combination thereof, at such time or times, as shall be necessary, together with the money and/or government obligations theretofore so deposited, to pay when due the principal of and premium, if any, and interest due and to become due on such Bonds or portions thereof, all in accordance with and subject to the provisions of Section 106; provided, however, that such instrument may state that the obligation of the Company to make additional deposits as aforesaid shall be subject to the delivery to the Company by the Trustee of a
9
notice asserting the deficiency accompanied by an opinion of an independent accountant showing the calculation thereof (which opinion shall be obtained at the expense of the Company); or
(b)an Opinion of Counsel to the effect that the holders of such Bonds, or portions of the principal amount thereof, will not recognize income, gain or loss for United States federal income tax purposes as a result of the satisfaction and discharge of the Company’s indebtedness in respect thereof and will be subject to United States federal income tax on the same amounts, at the same times and in the same manner as if such satisfaction and discharge had not been effected.
(VI)Anything in this Sixty-fourth Supplemental Indenture or the Bonds of the Sixty-fifth Series to the contrary notwithstanding, any payment of principal of or premium, if any, or interest on any Bond of the Sixty-fifth Series that is due on a date other than a Business Day shall be made on the next succeeding Business Day without including the additional days elapsed in the computation of the interest payable on such next succeeding Business Day; provided, however, that if the Maturity date of any Bond is a date other than a Business Day, the payment otherwise due at Maturity shall be made on the next succeeding Business Day and shall include the additional days elapsed in the computation of interest payable on such next succeeding Business Day.
(VII)The Bonds of the Sixty-fifth Series shall have such further terms as are set forth in Exhibit D hereto. If there shall be a conflict between the terms of the form of bond and the provisions of the Mortgage, the provisions of the Mortgage shall control to the extent permitted by law.
ARTICLE II
Outstanding Bonds
Upon the delivery of this Sixty-fourth Supplemental Indenture, Bonds of the Sixty-fifth Series in an aggregate principal amount of $165,000,000 are to be issued and will be Outstanding, in addition to $2,304,200,000 aggregate principal amount of bonds of prior series Outstanding at the date of delivery of this Sixty-fourth Supplemental Indenture; it being understood that, subject to the provisions of the Mortgage, there shall be no limit on the principal amount of bonds that may be authenticated and delivered under the Mortgage.
ARTICLE III
Prospective Amendments of Original Mortgage
SECTION 1. Each initial and subsequent holder of Bonds of the Sixty-fifth Series, by virtue of its acquisition of an interest therein, shall be deemed, without further act, to have consented to the amendments of the Original Mortgage, as heretofore amended, contemplated in Article III of the Fifty-eighth Supplemental Indenture, dated as of December 1, 2015, and set forth in Exhibit E(1) thereto, as amended in Section 2 of Article III of the Sixtieth
10
Supplemental Indenture, dated as of December 1, 2017, and in Exhibits E(2) and E(3) to such Fifty-eighth Supplemental Indenture.
ARTICLE IV
Miscellaneous Provisions
SECTION 1. The terms defined in the Original Mortgage shall, for all purposes of this Sixty-fourth Supplemental Indenture, have the meanings specified in the Original Mortgage.
SECTION 2. The Trustee hereby confirms its acceptance of the trusts in the Original Mortgage declared, provided, created or supplemented and agrees to perform the same upon the terms and conditions in the Original Mortgage set forth, including the following:
The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Sixty-fourth Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made by the Company solely. Each and every term and condition contained in Article XVI of the Original Mortgage shall apply to and form part of this Sixty-fourth Supplemental Indenture with the same force and effect as if the same were herein set forth in full, with such omissions, variations and insertions, if any, as may be appropriate to make the same conform to the provisions of this Sixty-fourth Supplemental Indenture.
SECTION 3. Whenever in this Sixty-fourth Supplemental Indenture either of the parties hereto is named or referred to, this shall, subject to the provisions of Articles XV and XVI of the Original Mortgage be deemed to include the successors and assigns of such party, and all the covenants and agreements in this Sixty-fourth Supplemental Indenture contained by or on behalf of the Company, or by or on behalf of the Trustee, or either of them, shall, subject as aforesaid, bind and inure to the respective benefits of the respective successors and assigns of such parties, whether so expressed or not.
SECTION 4. Nothing in this Sixty-fourth Supplemental Indenture, expressed or implied, is intended, or shall be construed, to confer upon, or to give to, any person, firm or corporation, other than the parties hereto and the holders of the bonds Outstanding under the Mortgage, any right, remedy or claim under or by reason of this Sixty-fourth Supplemental Indenture or any covenant, condition, stipulation, promise or agreement hereof, and all the covenants, conditions, stipulations, promises and agreements in this Sixty-fourth Supplemental Indenture contained by or on behalf of the Company shall be for the sole and exclusive benefit of the parties hereto and the holders of the bonds Outstanding under the Mortgage.
SECTION 5. This Sixty-fourth Supplemental Indenture shall be executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument.
SECTION 6. The titles of the several Articles of this Sixty-fourth Supplemental Indenture shall not be deemed to be any part thereof.
________________________
11
IN WITNESS WHEREOF, on the 23rd day of September, 2020, AVISTA CORPORATION has caused its corporate name to be hereunto affixed, and this instrument to be signed and sealed by its President or one of its Vice Presidents, and its corporate seal to be attested by its Corporate Secretary or one of its Assistant Corporate Secretaries for and in its behalf, all in The City of Spokane, Washington, as of the day and year first above written; and on the 23rd day of September, 2020, CITIBANK, N.A., has caused its corporate name to be hereunto affixed, and this instrument to be signed and sealed by its President or one of its Vice Presidents or one of its Senior Trust Officers or one of its Trust Officers and its corporate seal to be attested by one of its Vice Presidents or one of its Trust Officers, all in The City of New York, New York, as of the day and year first above written.
AVISTA CORPORATION
|
|
By: |
/s/ XXXX X. XXXXX |
Attest:
/s/ XXXXXXX X. XXXXXX
Name: Xxxxxxx X. Xxxxxx
Title: Vice President, General Counsel,
Corporate Secretary and Chief Ethics and Compliance Officer
Executed, sealed and delivered
by AVISTA CORPORATION
in the presence of:
/s/ XXXXX X. XXXX
Name: Xxxxx X. Xxxx
/s/ XXXXX X. XXXXX
Name: Xxxxx X. Xxxxx
12
CITIBANK, N.A., as Trustee
|
|
By |
/s/ XXXXX XXX |
Attest:
/s/ XXXX XXXXXX
Name: Xxxx Xxxxxx
Title: Senior Trust Officer
Executed, sealed and delivered
by CITIBANK, N.A.,
as trustee, in the presence of:
/s/ XXXXX X. XXXXXXXXXX
Name: Xxxxx X. Xxxxxxxxxx
/s/ XXXXXXX XXX
Name: Xxxxxxx Xxx
13
) ss.:
COUNTY OF SPOKANE)
On the 23rd day of September, 2020, before me personally appeared Xxxx X. Xxxxx, to me known to be a the Executive Vice President, the Chief Financial Officer and the Treasurer of AVISTA CORPORATION, one of the corporations that executed the within and foregoing instrument, and acknowledged said instrument to be the free and voluntary act and deed of said Corporation for the uses and purposes therein mentioned and on oath stated that he was authorized to execute said instrument and that the seal affixed is the corporate seal of said Corporation.
On the 23rd day of September, 2020, before me, a Notary Public in and for the State and County aforesaid, personally appeared Xxxx X. Xxxxx, known to me to be the Executive Vice President, the Chief Financial Officer and the Treasurer of AVISTA CORPORATION, one of the corporations that executed the within and foregoing instrument and acknowledged to me that such Corporation executed the same.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year first above written.
/s/ XXXXXX XXXXXX
Notary Public
XXXXXX XXXXXX
Notary Public
State of Washington
Commission Expires May 9, 2021
14
STATE OF NEW YORK)
) ss.:
COUNTY OF NEW YORK)
On the 14th day of September, 2020 before me personally appeared Xxxxx Xxx, to me known to be a Senior Trust Officer of CITIBANK, N.A., one of the corporations that executed the within and foregoing instrument, and acknowledged said instrument to be the free and voluntary act and deed of said Corporation for the uses and purposes therein mentioned and on oath stated that she was authorized to execute said instrument and that the seal affixed is the corporate seal of said Corporation.
On the 14th day of September, 2020, before me, a Notary Public in and for the State and County aforesaid, personally appeared Xxxxx Xxx, known to me to be a Senior Trust Officer of CITIBANK, N.A., one of the corporations that executed the within and foregoing instrument and acknowledged to me that such Corporation executed the same.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year first above written.
/s/ XXXX XXXXXX
Xxxx Xxxxxx
Notary Public
State of New York
No. 01MO6387127
Qualified in Richmond County
My Commission Expires February 4, 2023
15
MORTGAGE, SUPPLEMENTAL INDENTURES
AND SERIES OF BONDS
|
MORTGAGE OR SUPPLEMENTAL INDENTURE |
DATED AS OF |
SERIES |
PRINCIPAL AMOUNT ISSUED |
PRINCIPAL AMOUNT OUTSTANDING |
||
|
NO. |
DESIGNATION |
|||||
|
Original |
June 1, 1939 |
1 |
3-1/2% Series due 1964 |
$22,000,000 |
None |
|
|
1 |
October 1, 1952 |
2 |
3-1/2% Series due 1982 (changed to 3-3/4% in Twelfth Supplemental Indenture) |
30,000,000 |
None |
|
|
2 |
May 1, 1953 |
3 |
3-7/8% Series due 1983 |
10,000,000 |
None |
|
|
3 |
December 1, 1955 |
|
None |
|
|
|
|
4 |
March 15, 1957 |
|
None |
|
|
|
|
5 |
July 1, 1957 |
4 |
4-7/8% Series due 1987 |
30,000,000 |
None |
|
|
6 |
January 1, 1958 |
5 |
4-1/8% Series due 1988 |
20,000,000 |
None |
|
|
7 |
August 1, 1958 |
6 |
4-3/8% Series due 1988 |
15,000,000 |
None |
|
|
8 |
January 1, 1959 |
7 |
4-3/4% Series due 1989 |
15,000,000 |
None |
|
|
9 |
January 1, 1960 |
8 |
5-3/8% Series due 1990 |
10,000,000 |
None |
|
|
10 |
April 1, 1964 |
9 |
4-5/8% Series due 1994 |
30,000,000 |
None |
|
|
11 |
March 1 ,1965 |
10 |
4-5/8% Series due 1995 |
10,000,000 |
None |
|
|
12 |
May 1, 1966 |
|
None |
|
|
|
|
13 |
August 1, 1966 |
11 |
6% Series due 1996 |
20,000,000 |
None |
|
|
14 |
April 1, 1970 |
12 |
9-1/4% Series due 2000 |
20,000,000 |
None |
|
|
15 |
May 1, 1973 |
13 |
7-7/8% Series due 2003 |
20,000,000 |
None |
|
|
16 |
February 1, 1975 |
14 |
9-3/8% Series due 2005 |
25,000,000 |
None |
|
|
17 |
November 1, 1976 |
15 |
8-3/4% Series due 2006 |
30,000,000 |
None |
|
|
18 |
June 1, 1980 |
|
None |
|
|
|
|
19 |
January 1, 1981 |
16 |
14-1/8% Series due 1991 |
40,000,000 |
None |
|
|
|
|
|
Subtotals |
$347,000,000 |
None |
|
A-1
|
MORTGAGE OR SUPPLEMENTAL INDENTURE |
DATED AS OF |
SERIES |
PRINCIPAL AMOUNT ISSUED |
PRINCIPAL AMOUNT OUTSTANDING |
||
|
NO. |
DESIGNATION |
|||||
|
August 1, 1982 |
17 |
15-3/4% Series due 1990-1992 |
$60,000,000 |
None |
||
|
21 |
September 1, 1983 |
18 |
13-1/2% Series due 2013 |
60,000,000 |
None |
|
|
22 |
March 1, 1984 |
19 |
13-1/4% Series due 1994 |
60,000,000 |
None |
|
|
23 |
December 1, 1986 |
20 |
9-1/4% Series due 2016 |
80,000,000 |
None |
|
|
24 |
January 1, 1988 |
21 |
10-3/8% Series due 2018 |
50,000,000 |
None |
|
|
25 |
October 1, 1989 |
22 |
7-1/8% Series due 2013 |
66,700,000 |
None |
|
|
26 |
April 1, 1993 |
24 |
Secured Medium-Term Notes, Series A ($250,000,000 authorized) |
250,000,000 |
13,500,000 |
|
|
27 |
January 1, 1994 |
25 |
Secured Medium-Term Notes, Series B ($250,000,000 authorized) |
161,000,000 |
None |
|
|
28 |
September 1, 2001 |
26 |
Collateral Series due 2002 |
220,000,000 |
None |
|
|
29 |
December 1, 2001 |
27 |
7.75% Series due 2007 |
150,000,000 |
None |
|
|
30 |
May 1, 2002 |
28 |
Collateral Series due 2003 |
225,000,000 |
None |
|
|
31 |
May 1, 2003 |
29 |
Collateral Series due 2004 |
245,000,000 |
None |
|
|
32 |
September 1, 2003 |
30 |
6.125% Series due 2013 |
45,000,000 |
None |
|
|
33 |
May 1, 2004 |
31 |
Collateral Series due 2005 |
350,000,000 |
None |
|
|
34 |
November 1, 2004 |
32 |
5.45% Series due 2019 |
90,000,000 |
None |
|
|
35 |
December 1, 2004 |
33 |
Collateral Series 2004A |
88,850,000 |
25,000,000 |
|
|
36 |
December 1, 2004 |
34 |
Collateral Series 2004B |
66,700,000 |
None |
|
|
37 |
December 1, 2004 |
36 |
Collateral Series 2004D |
350,000,000 |
None |
|
|
38 |
May 1, 2005 |
37 |
Collateral Series 2005B |
66,700,000 |
None |
|
|
39 |
November 1, 2005 |
39 |
6.25% Series due 2035 |
100,000,000 |
100,000,000 |
|
|
|
|
|
Subtotals |
$2,885,950,000 |
$188,500,000 |
|
A-2
|
MORTGAGE OR SUPPLEMENTAL INDENTURE |
DATED AS OF |
SERIES |
PRINCIPAL AMOUNT ISSUED |
PRINCIPAL AMOUNT OUTSTANDING |
||
|
NO. |
DESIGNATION |
|||||
|
April 1, 2006 |
40 |
Collateral Series due 2011 |
$320,000,000 |
None |
||
|
41 |
December 1, 2006 |
41 |
5.70% Series due 2037 |
150,000,000 |
150,000,000 |
|
|
42 |
April 1, 2008 |
42 |
5.95% Series due 2018 |
250,000,000 |
None |
|
|
43 |
November 1, 2008 |
43 |
Collateral Series 2008A |
200,000,000 |
None |
|
|
44 |
December 1, 2008 |
44 |
7.25% Series due 2013 |
30,000,000 |
None |
|
|
45 |
December 1, 2008 |
45 |
Collateral Series 2008B |
17,000,000 |
None |
|
|
46 |
September 1, 2009 |
46 |
5.125% Series due 2022 |
250,000,000 |
250,000,000 |
|
|
47 |
November 1, 2009 |
47 |
Collateral Series 2009A |
75,000,000 |
None |
|
|
48 |
December 1, 2010 |
48 49 |
Collateral Series 2010A Collateral Series 2010B |
66,700,000 17,000,000 |
66,700,000 17,000,000 |
|
|
49 |
December 1, 2010 |
50 51 |
3.89% Series due 2020 5.55% Series due 2040 |
52,000,000 35,000,000 |
52,000,000 35,000,000 |
|
|
50 |
December 1, 2010 |
52 |
1.68% Series due 2013 |
50,000,000 |
None |
|
|
51 |
February 1, 2011 |
53 |
Collateral Series 2011A |
400,000,000 |
None |
|
|
52 |
August 1, 2011 |
|
None |
|
|
|
|
53 |
December 1, 2011 |
54 |
4.45% Series due 2041 |
85,000,000 |
85,000,000 |
|
|
54 |
November 1, 2012 |
55 |
4.23% Series due 2047 |
80,000,000 |
80,000,000 |
|
|
55 |
August 1, 2013 |
56 |
Collateral Series 2013A |
90,000,000 |
None |
|
|
56 |
April 1, 2014 |
57 |
Collateral Series 2014A |
400,000,000 |
None |
|
|
57 |
December 1, 2014 |
58 |
4.11% Series due 2044 |
60,000,000 |
60,000,000 |
|
|
58 |
December 1, 2015 |
59 |
4.37% Series due 2045 |
100,000,000 |
100,000,000 |
|
|
59 |
December 1, 2016 |
60 |
3.54% Series due 2051 |
175,000,000 |
175,000,000 |
|
|
60 |
December 1, 2017 |
61 |
3.91% Series due 2047 |
90,000,000 |
90,000,000 |
|
|
61 |
May 1, 2018 |
62 |
4.35% Series due 2048 |
375,000,000 |
375,000,000 |
|
|
62 |
November 1, 2019 |
63 |
3.43% Series due 2049 |
180,000,000 |
180,000,000 |
|
|
63 |
June 1, 2020 |
64 |
Collateral Series 2020A |
400,000,000 |
400,000,000 |
|
|
Subtotals $3,947,700,000 Totals $7,180,650,000 |
$2,115,700,000 $2,304,200,000 |
|||||
A-3
FILING AND RECORDING OF
SIXTY-THIRD SUPPLEMENTAL INDENTURE
|
FILING IN STATE OFFICES |
||||||
|
|
|
|
Financing Statement Document Number |
|||
|
State |
Office of |
Date |
||||
|
Washington |
Secretary of State |
7/7/20 |
1393106 |
|||
|
Idaho |
Secretary of State |
7/27/20 |
20201092451 |
|||
|
Montana |
Secretary of State |
7/22/20 |
20200542238 |
|||
|
Oregon |
Secretary of State |
7/6/2020 |
92450567 |
|||
|
RECORDING IN COUNTY OFFICES |
||||||
|
County |
Office of |
Real Estate Mortgage Records
|
Financing Statement Document Number |
|||
|
Date |
Document Number |
Book |
Page |
|
||
|
Washington |
|
|
|
|
|
|
|
Xxxxx |
Auditor |
6/29/20 |
324821 |
N/A |
N/A |
N/A |
|
Asotin |
Auditor |
6/29/20 |
366759 |
N/A |
N/A |
N/A |
|
Xxxxxx |
Auditor |
6/30/00 |
0000-000000 |
N/A |
N/A |
N/A |
|
Xxxxxxx |
Auditor |
6/29/20 |
3231708 |
N/A |
N/A |
N/A |
|
Ferry |
Auditor |
6/29/20 |
0293981 |
N/A |
N/A |
N/A |
|
Franklin |
Auditor |
6/30/20 |
1916188 |
N/A |
N/A |
N/A |
|
Garfield |
Auditor |
6/30/20 |
20202306 |
N/A |
N/A |
N/A |
|
Grant |
Auditor |
6/29/20 |
1428844 |
N/A |
N/A |
N/A |
|
Klickitat |
Auditor |
6/29/20 |
1140562 |
N/A |
N/A |
N/A |
|
Xxxxx |
Auditor |
6/30/20 |
3526256 |
N/A |
N/A |
N/A |
|
Lincoln |
Auditor |
6/29/20 |
2020-0484415 |
N/A |
N/A |
N/A |
|
Pend Oreille |
Auditor |
6/29/20 |
20200339349 |
N/A |
N/A |
N/A |
|
Skamania |
Auditor |
6/29/00 |
0000-000000 |
N/A |
N/A |
N/A |
|
Spokane |
Auditor |
8/6/20 |
6952690 |
N/A |
N/A |
N/A |
|
Xxxxxxx |
Auditor |
6/29/20 |
2020 0004815 |
N/A |
N/A |
N/A |
|
Xxxxxxxx |
Auditor |
7/29/20 |
4770679 |
N/A |
N/A |
N/A |
|
Xxxxxxx |
Auditor |
7/9/20 |
759431 |
N/A |
N/A |
N/A |
|
|
|
|
|
|
|
|
|
Idaho |
|
|
|
|
|
|
|
Benewah |
Recorder |
6/30/20 |
287286 |
N/A |
N/A |
N/A |
|
Xxxxxx |
Recorder |
7/7/20 |
960347 |
N/A |
N/A |
N/A |
|
Boundary |
Recorder |
6/29/20 |
282335 |
N/A |
N/A |
N/A |
|
Clearwater |
Recorder |
6/29/20 |
238157 |
N/A |
N/A |
N/A |
B-1
|
Recorder |
6/29/20 |
524429 |
N/A |
N/A |
N/A |
|
|
Kootenai |
Recorder |
7/7/20 |
2762352000 |
N/A |
N/A |
N/A |
|
Latah |
Recorder |
6/29/20 |
606638 |
N/A |
N/A |
N/A |
|
RECORDING IN COUNTY OFFICES |
||||||
|
County |
Office of |
Real Estate Mortgage Records
|
|
|||
|
Financing Statement Document Number |
||||||
|
Date |
Document Number |
Book |
Page |
|||
|
Idaho (cont.) |
|
|
|
|
|
|
|
Xxxxx |
Recorder |
6/29/20 |
148442 |
N/A |
N/A |
N/A |
|
Nez Perce |
Recorder |
7/13/20 |
878006 |
N/A |
N/A |
N/A |
|
Shoshone |
Recorder |
7/7/20 |
504097 |
N/A |
N/A |
N/A |
|
|
|
|
|
|
|
|
|
Montana |
|
|
|
|
|
|
|
Big Horn |
Clerk & Recorder |
6/29/20 |
360222 |
N/A |
N/A |
N/A |
|
Xxxxxxxxxx |
Clerk & Recorder |
7/6/20 |
185838 |
N/A |
N/A |
N/A |
|
Golden Valley |
Clerk & Recorder |
6/29/20 |
84046 |
M |
20464 |
N/A |
|
Xxxxxxx |
Clerk & Recorder |
6/30/20 |
146458 |
N/A |
N/A |
N/A |
|
Mineral |
Clerk & Recorder |
6/29/20 |
121584 |
N/A |
N/A |
|
|
Rosebud |
Clerk & Recorder |
6/30/20 |
0123010 |
N/A |
N/A |
N/A |
|
Xxxxxxx |
Clerk & Recorder |
6/29/20 |
316839 |
N/A |
N/A |
N/A |
|
Stillwater |
Clerk & Recorder |
6/29/20 |
379163 |
N/A |
N/A |
N/A |
|
Treasure |
Clerk & Recorder |
6/29/20 |
84490 |
N/A |
N/A |
N/A |
|
Wheatland |
Clerk & Recorder |
6/29/20 |
11478 |
M |
31102 |
N/A |
|
Yellowstone |
Clerk & Recorder |
6/30/20 |
3926063 |
N/A |
N/A |
N/A |
|
|
|
|
|
|
|
|
|
Oregon |
|
|
|
|
|
|
|
Xxxxxxx |
Recorder |
7/14/00 |
0000-000000 |
N/A |
N/A |
N/A |
|
Xxxxxxx |
Recorder |
7/8/00 |
0000-000000 |
N/A |
N/A |
N/A |
|
Xxxxxxxxx |
Recorder |
6/30/00 |
0000-000000 |
N/A |
N/A |
N/A |
|
Klamath |
Recorder |
6/29/00 |
0000-000000 |
N/A |
N/A |
N/A |
|
Xxxxxx |
Recorder |
6/30/20 |
2020-46720 |
N/A |
N/A |
N/A |
|
Union |
Recorder |
6/29/20 |
20202002 |
N/A |
N/A |
N/A |
|
Wallowa |
Recorder |
6/30/20 |
00082031 |
N/A |
N/A |
N/A |
B-2
EXHIBIT C
First
Additional PROTECTION, MITIGATION AND ENHANCEMENT PROPERTY of the Company, real, personal, or mixed, acquired, constructed and/or installed in, on, under and/or proximate to the Company’s hydroelectric generation developments for the purpose of protecting and/or enhancing wildlife (including fish and aquatic life), botanical life and/or wetlands, and/or mitigating any harm or damage thereto, and all other property, real, personal or mixed, used or enjoyed or capable of being used or enjoyed in conjunction therewith, including, but not limited to, the following in the State of Montana, to wit:
Xxxxxxx County, Montana: “Trout Creek Boat Ramp”, granted by Trout Creek Community Improvement Association, Inc., a Montana non-profit corporation of Xxxxxxxx Falls, Xxxxxxx County, dated July 29, 2020; the following real estate, situated in the county of Xxxxxxx, State of Montana:
A tract of land in that portion of the SE1/4NW1/4 and the SW1/4NE1/4 of Xxxxxxx 00, Xxxxxxxx 00 Xxxxx, Xxxxx00 West, PMM, Xxxxxxx County, Montana, lying between Montana Highway 200 and the Avista Project Boundary on the left bank of the Xxxxx Rapids Reservoir as per Volume 75 of Deeds, at page 96, records of Xxxxxxx County, Montana more particularly described on Certificate of Survey No. 3513.
Commonly known as: Trout Creek Boat Ramp – Tax ID: 11629
SUBJECT TO easements, reservations, restrictions, conditions and covenants of record.
Second
BUSINESS OFFICE(S) AND/OR MISCELLANEOUS REAL ESTATE, in the State of Washington, to wit:
Spokane County, Washington: “Hatch Beacon Transmission Corridor”, granted by Xxxxxxxx X. Xxxxx, a widow, aka Xxxxxxxx X. Xxxxxxxxx, dated June 1, 2020; the following described real estate, situated in the County of Spokane, State of Washington:
A strip of land 200 feet in width across the North half of the Southwest quarter of said Xxxxxxx 0, Xxxxxxxx 00 Xxxxx, Xxxxx 43 East, X.X., the center line of said 200 foot strip of land being more particularly described as follows, to-wit:
Beginning at a point on the South line of the North half of the Southwest quarter of said Section 2, 945 feet east of the Southwest corner of said North half of the Southwest quarter of said Section 2 and running thence North 55°131/2 feet East a distance of 2,067 feet, more or less, to a point on the East line of said North half of the Southwest quarter of said Section 2;
Situate in the City of Spokane, Spokane County, Washington.
Subject To: Easements, Restrictions, Reservations, Conditions, and Covenants of Record.
Tax Parcel Number(s): 35023.0014
C-1
EXHIBIT D
PPN: 05379B D#1
AVISTA CORPORATION
First Mortgage Bond, 3.07% Series due 2050
|
REGISTERED |
REGISTERED |
|
|
|
|
NO. _________________ |
$_______________ |
|
|
|
|
|
|
AVISTA CORPORATION, a corporation of the State of Washington (hereinafter called the “Company”), for value received, hereby promises to pay to
, or registered assigns, on September 30, 2050 (the “Stated Maturity Date”)
DOLLARS
and to pay the registered owner hereof interest thereon semi-annually in arrears on March 31 and September 30 in each year (each such date, an “Interest Payment Date”), commencing March 31, 2021, and at Maturity (as hereinafter defined), at the rate of three and seven one-hundredths per centum (3.07%) per annum computed on the basis of a 360-day year consisting of twelve 30-day months, until the Company’s obligation with respect to the payment of such principal shall have been discharged. This bond shall bear interest from September 30, 2020 or from the most recent Interest Payment Date on or prior to the date of this bond to which interest on the bonds of this series has been paid.
Dated:AVISTA CORPORATION
|
|
By: |
|
ATTEST:
Name:
Title:
TRUSTEE’S CERTIFICATE
This bond is one of the bonds of the series herein designated, described or provided for in the within-mentioned Mortgage.
CITIBANK, N.A.
Trustee
By
Authorized Signatory
D-1
The principal of and premium, if any, and interest on this bond payable at Maturity shall be payable to the registered owner hereof upon presentation hereof at the office or agency of the Company in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for public and private debts. The interest on this bond (other than interest payable at Maturity) shall be paid by check, in the similar coin or currency, mailed to the registered owner hereof as of the close of business on the seventh Business Day (as defined in the Sixty-fourth Supplemental Indenture referred to below) preceding each Interest Payment Date (each such date being herein called a “Record Date”); provided, however, that if such registered owner shall be a securities depositary, such payment shall be made by such other means in lieu of check as shall be agreed upon by the Company, the Trustee and such registered owner; and provided further that, so long as this Bond shall be held by (a) the original purchaser hereof under the Bond Purchase Agreement (as defined in such Sixty-fourth Supplemental Indenture) or (b) any other Institutional Investor (as defined in such Supplemental Indenture) that (i) is the direct or indirect transferee of this bond from such original purchaser and (ii) has made the same agreement relating to this bond as such original purchaser made in Section 8.2 of the Bond Purchase Agreement, payment of principal of and premium, if any, and interest on this Bond shall be payable in the manner specified in the Bond Purchase Agreement. Interest payable at Maturity shall be paid to the person to whom principal shall be paid. As used herein, the term “Maturity” shall mean the date on which the principal of this bond becomes due and payable, whether at stated maturity, upon redemption or acceleration, or otherwise.
This bond is one of an issue of bonds of the Company issuable in series and is one of a series known as its First Mortgage Bonds, 3.07% Series due 2050, all bonds of all such series being issued and issuable under and equally secured (except insofar as any sinking or other fund, established in accordance with the provisions of the Mortgage hereinafter mentioned, may afford additional security for the bonds of any particular series) by a Mortgage and Deed of Trust, dated as of June 1, 1939 (the “Original Mortgage”), executed by the Company (formerly known as The Washington Water Power Company) to City Bank Farmers Trust Company and Xxxxx X. Xxxxxx, as Trustees (Citibank, N.A., successor Trustee to both said Trustees). The Original Mortgage has been amended and supplemented by various supplemental indentures, including the Sixty-fourth Supplemental Indenture, dated as of September 1, 2020 (the “Sixty-fourth Supplemental Indenture”), and, as so amended and supplemented, is herein called the “Mortgage”. Reference is made to the Mortgage for a description of the property mortgaged and pledged, the nature and extent of the security, the rights of the holders of the bonds and of the Trustee in respect thereof, the duties and immunities of the Trustee, the terms and conditions upon which the bonds are and are to be secured and the circumstances under which additional bonds may be issued. If there shall be a conflict between the terms of this bond and the provisions of the Mortgage, the provisions of the Mortgage shall control to the extent permitted by law. The holder of this bond, by its acceptance hereof, shall be deemed to have consented and agreed to all of the terms and provisions of the Mortgage and, further, in the event that such holder shall not be the sole beneficial owner of this bond, shall be deemed to have agreed to use all commercially reasonable efforts to cause all direct and indirect beneficial owners of this bond to have knowledge of the terms and provisions of the Mortgage and of this bond and to comply therewith, including particularly, but without limitation, any provisions or restrictions in the Mortgage regarding the transfer or exchange of such beneficial interests and any legend set forth on this bond.
D-2
The Mortgage may be modified or altered by affirmative vote of the holders of at least 60% in principal amount of the bonds outstanding under the Mortgage, considered as one class, or, if the rights of one or more, but less than all, series of bonds then outstanding are to be affected, then such modification or alteration may be effected with the affirmative vote only of 60% in principal amount of the bonds outstanding of the series so to be affected, considered as one class, and, furthermore, for limited purposes, the Mortgage may be modified or altered without any consent or other action of holders of any series of bonds. No modification or alteration shall, however, permit an extension of the Maturity of the principal of, or interest on, this bond or a reduction in such principal or the rate of interest hereon or any other modification in the terms of payment of such principal or interest or the creation of any lien equal or prior to the lien of the Mortgage or deprive the holder of a lien on the mortgaged and pledged property without the consent of the holder hereof. Each initial and subsequent holder of bonds of this series, by virtue of its acquisition of an interest therein, shall be deemed, without further act, to have consented to the prospective amendments to the Original Mortgage set forth or referred to in the Sixty-fourth Supplemental Indenture.
The principal hereof, together with all accrued and unpaid interest hereon, may be declared or may become due prior to the Stated Maturity Date on the conditions, in the manner and at the time set forth in the Mortgage, upon the occurrence of a Completed Default as in the Mortgage provided.
As provided in the Mortgage and subject to certain limitations therein set forth, this bond or any portion of the principal amount hereof will be deemed to have been paid if there has been irrevocably deposited with the Trustee moneys or direct obligations of or obligations guaranteed by the United States of America, the principal of and interest on which when due, and without regard to any reinvestment thereof, will provide moneys which, together with moneys so deposited, will be sufficient to pay when due the principal of and premium, if any, and interest on this bond when due.
The Mortgage contains terms, provisions and conditions relating to the consolidation or merger of the Company with or into, and the conveyance or other transfer, or lease, of assets to, another corporation and to the assumption by such other corporation, in certain circumstances, of all of the obligations of the Company under the Mortgage and on the bonds secured thereby.
In the manner prescribed in the Mortgage, this bond is transferable by the registered owner hereof in person, or by his duly authorized attorney, at the office or agency of the Company in the Borough of Manhattan, The City of New York, upon surrender and cancellation of this bond, together with a written instrument of transfer whenever required by the Company duly executed by the registered owner or by its duly authorized attorney, and, thereupon, a new fully registered bond of the same series for a like principal amount will be issued to the transferee in exchange herefor as provided in the Mortgage. The Company and the Trustee may deem and treat the person in whose name this bond is registered as the absolute owner hereof for the purpose of receiving payment and for all other purposes.
In the manner prescribed in the Mortgage, any bonds of this series, upon surrender thereof for cancellation at the office or agency of the Company in the Borough of
D-3
Manhattan, The City of New York, are exchangeable for a like aggregate principal amount of bonds of the same series of other authorized denominations.
Prior to the Par Call Date (as hereinafter defined), the bonds of this series shall be redeemable in whole at any time or in part from time to time, at the option of the Company, upon notice mailed as provided in Section 52 of the Mortgage, at a redemption price equal to the greater of
(a)100% of the principal amount of the bonds being redeemed and
(b)the sum of the present values of the remaining scheduled payments of principal of and interest on the bonds being redeemed (assuming for this purpose, that the bonds of this series were stated to mature on the Par Call Date and excluding any portion of any scheduled payment of interest that accrued prior to the redemption date), discounted to the date of redemption on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at a discount rate equal to the Treasury Yield (as hereinafter defined) plus 50 basis points,
plus, in the case of either (a) or (b) above, whichever is applicable, accrued and unpaid interest on such bonds to the date of redemption.
On or after the Par Call Date, the bonds of this series shall be redeemable in whole at any time, or in part from time to time, at the option of the Company, upon notice mailed as aforesaid, at a redemption price equal to 100% of the principal amount of the bonds being redeemed plus accrued and unpaid interest on such bonds to the date of redemption.
“Par Call Date” means March 31, 2050.
“Treasury Yield” means, with respect to any redemption of bonds of this series,
(a)the yield to maturity reported in the Statistical Release, for the latest day for which such yields have been so reported as of the Calculation Date, for the U.S. Treasury constant maturity with a term equal to the remaining term of such bonds (assuming, for this purpose, that the bonds of the series were stated to mature on the par Call Date), or
(b)if there is no such U.S. Treasury constant maturity having a term equal to such remaining term, the yield to maturity determined by linear interpolation between (i) the U.S. Treasury constant maturity reported in the Statistical Release with the term next longer than such remaining term and (ii) the U.S. Treasury constant maturity reported in the Statistical Release with the term next shorter than such remaining term.
The Treasury Yield shall be rounded to two decimal places. The Treasury Yield shall be calculated as of the third Business Day preceding the earlier of (x) the date notice of redemption is mailed to holders of bonds of this series and (y) the date irrevocable arrangements with the Trustee for the mailing of such notice shall have been made, as the case may be (the “Calculation Date”).
D-4
“Statistical Release” means the daily statistical release entitled “H.15 Selected Interest Rates”, or any successor publication, published by the Board of Governors of the Federal Reserve System, or any successor entity; or, if such Board of Governors no longer publishes the information contained in such statistical release, a publication containing similar information published by the U.S. Department of the Treasury, or any successor or other U.S. governmental body.
Except as provided above, (a) the bonds of this series are not redeemable prior to the Stated Maturity Date and (b) no amount other than the principal of and interest on the bonds of this series shall be payable in respect of such bonds.
No recourse shall be had for the payment of the principal of or premium, if any, or interest on this bond against any incorporator or any past, present or future subscriber to the capital stock, stockholder, officer or director of the Company or of any predecessor or successor corporation, as such, either directly or through the Company or any predecessor or successor corporation, under any rule of law, statute or constitution or by the enforcement of any assessment or otherwise, all such liability of incorporators, subscribers, stockholders, officers and directors being released by the holder or owner hereof by the acceptance of this bond and being likewise waived and released by the terms of the Mortgage.
This bond shall not become obligatory until Citibank, N.A., the Trustee under the Mortgage, or its successor thereunder, shall have signed the form of certificate endorsed hereon.
____________________
D-5
ASSIGNMENT FORM
FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto
________________________________________________________________________
[please insert social security or other identifying number of assignee]
________________________________________________________________________
[please print or typewrite name and address of assignee]
________________________________________________________________________
the within bond of AVISTA CORPORATION and does hereby irrevocably constitute and appoint ____________________________________________, Attorney, to transfer said bond on the books of the within-mentioned Company, with full power of substitution in the premises.
Dated: _________________
___________________________________
[signature of assignor]
Notice: The signature to this assignment must correspond with the name as written upon the face of the bond in every particular without alteration or enlargement or any change whatsoever.
D-6
