Exhibit 4b(3)
COUNTERPART __
OF 110 COUNTERPARTS
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CAROLINA POWER & LIGHT COMPANY
TO
THE BANK OF NEW YORK
(formerly Irving Trust Company)
AND
XXXXXXX X. XXXXXXXX
(successor to Xxxxxxxxx X. Xxxxxx, Xxxxxxx X. Xxxx, X.X. Xxxxxx, X.X. XxXxxx,
G. Xxxxx, X.X. May, X.X. Xxxxxxx, Xxxxxx X. Xxxxx, Xxxxx Xxxx
and X.X. Xxxxxxxxxx)
as Trustees under Carolina Power &
Light Company's Mortgage and Deed
of Trust, dated as of May 1, 1940
----------------
`
Seventieth Supplemental Indenture
Providing among other things for First
Mortgage Bonds, Pollution Control Series P, Q, R, S, T, U and V
(Seventy-third, Seventy-fourth, Seventy-fifth, Seventy-sixth,
Seventy-seventh, Seventy-eighth and Seventy-ninth Series)
-----------------
Dated as of July 1, 2000
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Prepared by and Return to:
Hunton & Xxxxxxxx (TSG)
Xxxx Xxxxxx Xxx 000
Xxxxxxx, Xxxxx Xxxxxxxx 00000
SEVENTIETH SUPPLEMENTAL INDENTURE
INDENTURE, dated as of July 1, 2000, by and between CAROLINA POWER &
LIGHT COMPANY, a corporation of the State of North Carolina, whose post office
address is 000 Xxxxxxxxxxxx Xxxxxx, Xxxxxxx, Xxxxx Xxxxxxxx 00000-0000
(hereinafter sometimes called the Company), and THE BANK OF NEW YORK (formerly
Irving Trust Company), a corporation of the State of New York, whose post office
address is 000 Xxxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 (hereinafter sometimes
called the Corporate Trustee), and XXXXXXX X. XXXXXXXX (successor to Xxxxxxxxx
X. Xxxxxx, Xxxxxxx X. Xxxx, X.X. Xxxxxx, X.X. XxXxxx, G. Xxxxx, X.X. May, X.X.
Xxxxxxx, Xxxxxx X. Xxxxx, Xxxxx Xxxx and X.X. Xxxxxxxxxx), whose post office
address is 0000 X. XxXxxxxxxx Xxxxxx, Xxxxxxxx, Xxx Xxxxxx 00000 (hereinafter
sometimes called the Individual Trustee; the Corporate Trustee and the
Individual Trustee being hereinafter together sometimes called the Trustees), as
Trustees under the Mortgage and Deed of Trust, dated as of May 1, 1940
(hereinafter called the Mortgage), which Mortgage was executed and delivered by
the Company to Irving Trust Company (now The Bank of New York) and Xxxxxxxxx X.
Xxxxxx to secure the payment of bonds issued or to be issued under and in
accordance with the provisions of the Mortgage, reference to which Mortgage is
hereby made, this Indenture (hereinafter sometimes called the Seventieth
Supplemental Indenture) being supplemental thereto:
WHEREAS, the Mortgage was recorded in various Counties in the States of
North Carolina and South Carolina; and
WHEREAS, the Mortgage was indexed and cross-indexed in the real and
chattel mortgage records in various Counties in the States of North Carolina and
South Carolina; and
WHEREAS, an instrument, dated as of June 25, 1945, was executed by the
Company appointing Xxxxxxx X. Xxxx as Individual Trustee in succession to said
Xxxxxxxxx X. Xxxxxx (deceased) under the Mortgage, and by Xxxxxxx X. Xxxx
accepting said appointment, which instrument was recorded in various Counties in
the States of North Carolina and South Carolina; and
WHEREAS, an instrument, dated as of December 12, 1957, was executed by
the Company appointing X.X. Xxxxxx as Individual Trustee in succession to said
Xxxxxxx X. Xxxx (resigned) under the Mortgage, and by X.X. Xxxxxx accepting said
appointment, which instrument was recorded in various Counties in the States of
North Carolina and South Carolina; and
WHEREAS, an instrument, dated as of April 15, 1966, was executed by the
Company appointing X.X. XxXxxx as Individual Trustee in succession to said X.X.
Xxxxxx (resigned) under the Mortgage, and by X.X. XxXxxx accepting said
appointment, which instrument was recorded in various Counties in the States of
North Carolina and South Carolina; and
WHEREAS, by the Seventeenth Supplemental Indenture mentioned below, the
Company, among other things, appointed X. Xxxxx as Individual Trustee in
succession to said X.X. XxXxxx (resigned), and X. Xxxxx accepted said
appointment; and
WHEREAS, by the Nineteenth Supplemental Indenture mentioned below, the
Company, among other things, appointed D.W. May as Individual Trustee in
succession to said X. Xxxxx (resigned), and D.W. May accepted said appointment;
and
WHEREAS, by the Thirty-fifth Supplemental Indenture mentioned below,
the Company, among other things, appointed X.X. Xxxxxxx as Individual Trustee in
succession to said D.W. May (resigned), and X.X. Xxxxxxx accepted said
appointment; and
WHEREAS, an instrument, dated as of June 27, 1988, was executed by the
Company appointing Xxxxxx X. Xxxxx as Individual Trustee in succession to said
X.X. Xxxxxxx (resigned) under the Mortgage, and by Xxxxxx X. Xxxxx accepting
said appointment, which instrument was recorded in various Counties in the
States of North Carolina and South Carolina; and
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WHEREAS, by the Forty-fifth Supplemental Indenture mentioned below, the
Company, among other things, appointed Xxxxx Xxxx as Individual Trustee in
succession to said Xxxxxx X. Xxxxx (resigned), and Xxxxx Xxxx accepted said
appointment; and
WHEREAS, by the Forty-ninth Supplemental Indenture mentioned below, the
Company, among other things, appointed X.X. Xxxxxxxxxx as Individual Trustee in
succession to said Xxxxx Xxxx (resigned), and X.X. Xxxxxxxxxx accepted said
appointment; and
WHEREAS, by the Sixty-sixth Supplemental Indenture mentioned below, the
Company, among other things, appointed Xxxxxxx X. XxxXxxxx as Individual Trustee
in succession to said X.X. Xxxxxxxxxx (resigned), and Xxxxxxx X. XxxXxxxx
accepted said appointment; and
WHEREAS, such instruments were indexed and cross-indexed in the real
and chattel mortgage records in various Counties in the States of North Carolina
and South Carolina; and
WHEREAS, by the Mortgage, the Company covenanted that it would execute
and deliver such supplemental indenture or indentures and such further
instruments and do such further acts as might be necessary or proper to carry
out more effectually the purposes of the Mortgage and to make subject to the
lien of the Mortgage any property thereafter acquired intended to be subject to
the lien thereof; and
WHEREAS, for said purposes, among others, the Company executed and
delivered to the Trustees the following supplemental indentures:
Designation Dated as of
----------- -----------
First Supplemental Indenture........................... January 1, 1949
Second Supplemental Indenture.......................... December 1, 1949
Third Supplemental Indenture........................... February 1, 1951
Fourth Supplemental Indenture.......................... October 1, 1952
Fifth Supplemental Indenture........................... March 1, 1958
Sixth Supplemental Indenture........................... April 1, 1960
Seventh Supplemental Indenture......................... November 1, 1961
Eighth Supplemental Indenture.......................... July 1, 1964
Ninth Supplemental Indenture........................... April 1, 1966
Tenth Supplemental Indenture........................... October 1, 1967
Eleventh Supplemental Indenture........................ October 1, 1968
Twelfth Supplemental Indenture......................... January 1, 1970
Thirteenth Supplemental Indenture...................... August 1, 1970
Fourteenth Supplemental Indenture...................... January 1, 1971
Fifteenth Supplemental Indenture....................... October 1, 1971
Sixteenth Supplemental Indenture....................... May 1, 1972
Seventeenth Supplemental Indenture..................... May 1, 1973
Eighteenth Supplemental Indenture..................... November 1, 1973
Nineteenth Supplemental Indenture..................... May 1, 1974
Twentieth Supplemental Indenture...................... December 1, 1974
Twenty-first Supplemental Indenture................... April 15, 1975
Twenty-second Supplemental Indenture.................. October 1, 1977
Twenty-third Supplemental Indenture................... June 1, 1978
Twenty-fourth Supplemental Indenture.................. May 15, 1979
Twenty-fifth Supplemental Indenture................... November 1, 1979
Twenty-sixth Supplemental Indenture................... November 1, 1979
Twenty-seventh Supplemental Indenture................. April 1, 1980
Twenty-eighth Supplemental Indenture.................. October 1, 1980
Twenty-ninth Supplemental Indenture................... October 1, 1980
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Designation Dated as of
----------- -----------
Thirtieth Supplemental Indenture...................... December 1, 1982
Thirty-first Supplemental Indenture................... March 15, 1983
Thirty-second Supplemental Indenture.................. March 15, 1983
Thirty-third Supplemental Indenture................... December 1, 1983
Thirty-fourth Supplemental Indenture.................. December 15, 1983
Thirty-fifth Supplemental Indenture................... April 1, 1984
Thirty-sixth Supplemental Indenture................... June 1, 1984
Thirty-seventh Supplemental Indenture................. June 1, 1984
Thirty-eighth Supplemental Indenture.................. June 1, 1984
Thirty-ninth Supplemental Indenture................... April 1, 1985
Fortieth Supplemental Indenture....................... October 1, 1985
Forty-first Supplemental Indenture.................... March 1, 1986
Forty-second Supplemental Indenture................... July 1, 1986
Forty-third Supplemental Indenture.................... January 1, 1987
Forty-fourth Supplemental Indenture................... December 1, 1987
Forty-fifth Supplemental Indenture.................... September 1, 1988
Forty-sixth Supplemental Indenture.................... April 1, 1989
Forty-seventh Supplemental Indenture.................. August 1, 1989
Forty-eighth Supplemental Indenture................... November 15, 1990
Forty-ninth Supplemental Indenture.................... November 15, 1990
Fiftieth Supplemental Indenture....................... February 15, 1991
Fifty-first Supplemental Indenture.................... April 1, 1991
Fifty-second Supplemental Indenture................... September 15, 1991
Fifty-third Supplemental Indenture.................... January 1, 1992
Fifty-fourth Supplemental Indenture................... April 15, 1992
Fifty-fifth Supplemental Indenture.................... July 1, 1992
Fifty-sixth Supplemental Indenture.................... October 1, 1992
Fifty-seventh Supplemental Indenture.................. February 1, 1993
Fifty-eighth Supplemental Indenture................... March 1, 1993
Fifty-ninth Supplemental Indenture.................... July 1, 1993
Sixtieth Supplemental Indenture....................... July 1, 1993
Sixty-first Supplemental Indenture.................... August 15, 1993
Sixty-second Supplemental Indenture................... January 15, 1994
Sixty-third Supplemental Indenture.................... May 1, 1994
Sixty-fourth Supplemental Indenture................... August 15, 1997
Sixty-fifth Supplemental Indenture.................... April 1, 1998
Sixty-sixth Supplemental Indenture.................... March 1, 1999
Sixty-seventh Supplemental Indenture.................. March 1, 2000
Sixty-eighth Supplemental Indenture................... April 1, 2000
Sixty-ninth Supplemental Indenture.................... June 1, 2000
which supplemental indentures (other than said Sixty-fifth Supplemental
Indenture and said Sixty-seventh Supplemental Indenture) were recorded in
various Counties in the States of North Carolina and South Carolina, and were
indexed and cross-indexed in the real and chattel mortgage or security interest
records in various Counties in the States of North Carolina and South Carolina;
and
WHEREAS, no recording or filing of said Sixty-fifth Supplemental
Indenture in any manner or place is required by law in order to fully preserve
and protect the security of the bondholders and all rights of the Trustees or is
necessary to make effective the lien intended to be created by the Mortgage or
said Sixty-fifth Supplemental Indenture; and said Sixty-seventh Supplemental
Indenture was recorded only in Rowan County, North Carolina to make subject to
the lien of the Mortgage, as supplemented, certain property of the Company
located in said County intended to be subject to the lien of the Mortgage, as
supplemented, all in accordance with Section 42 of the Mortgage; and
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WHEREAS, the Mortgage and said First through Sixty-ninth Supplemental
Indentures (other than said Sixty-fifth and said Sixty-seventh Supplemental
Indentures) were or are to be recorded in all Counties in the States of North
Carolina and South Carolina in which this Seventieth Supplemental Indenture is
to be recorded; and
WHEREAS, in addition to the property described in the Mortgage, as
heretofore supplemented, the Company has acquired certain other property, rights
and interests in property; and
WHEREAS, the Company has heretofore issued, in accordance with the
provisions of the Mortgage, as supplemented, the following series of First
Mortgage Bonds:
Principal Principal
Amount Amount
Series Issued Outstanding
------ ------ -----------
3-3/4% Series due 1965.................................... $ 46,000,000 None
3-1/8% Series due 1979.................................... 20,100,000 None
3-1/4% Series due 1979.................................... 43,930,000 None
2-7/8% Series due 1981.................................... 15,000,000 None
3-1/2% Series due 1982.................................... 20,000,000 None
4-1/8% Series due 1988.................................... 20,000,000 None
4-7/8% Series due 1990.................................... 25,000,000 None
4-1/2% Series due 1991.................................... 25,000,000 None
4-1/2% Series due 1994.................................... 30,000,000 None
5-1/8% Series due 1996.................................... 30,000,000 None
6-3/8% Series due 1997.................................... 40,000,000 None
6-7/8% Series due 1998.................................... 40,000,000 None
8-3/4% Series due 2000.................................. 40,000,000 None
8-3/4% Series due August 1, 2000.......................... 50,000,000 None
7-3/8% Series due 2001.................................... 65,000,000 None
7-3/4% Series due October 1, 2001......................... 70,000,000 None
7-3/4% Series due 2002.................................... 100,000,000 None
7-3/4% Series due 2003.................................... 100,000,000 None
8-1/8% Series due November 1, 2003........................ 100,000,000 None
9-3/4% Series due 2004.................................... 125,000,000 None
11-1/8% Series due 1994................................... 50,000,000 None
11% Series due April 15, 1984............................. 100,000,000 None
8-1/2% Series due October 1, 2007......................... 100,000,000 None
9-1/4% Series due June 1, 2008............................ 100,000,000 None
10-1/2% Series due May 15, 2009........................... 125,000,000 None
12-1/4% Series due November 1, 2009....................... 100,000,000 None
Pollution Control Series A................................ 63,000,000 None
14-1/8% Series due April 1, 1987.......................... 125,000,000 None
Pollution Control Series B................................ 50,000,000 None
Pollution Control Series C................................ 6,000,000 None
11-5/8% Series due December 1, 1992....................... 100,000,000 None
Pollution Control Series D................................ 48,485,000 $ 48,485,000
Pollution Control Series E................................ 5,970,000 5,970,000
12-7/8% Series due December 1, 2013....................... 100,000,000 None
Pollution Control Series F................................ 34,700,000 34,700,000
13-3/8% Series due April 1, 1994.......................... 100,000,000 None
Pollution Control Series G................................ 122,615,000 None
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Principal Principal
Amount Amount
Series Issued Outstanding
------ ------ -----------
Pollution Control Series H................................ 70,000,000 None
Pollution Control Series I................................ 70,000,000 None
Pollution Control Series J................................ 6,385,000 1,795,000
Pollution Control Series K................................ 2,580,000 2,580,000
Extendible Series due April 1, 1995....................... 125,000,000 None
11-3/4% Series due October 1, 2015........................ 100,000,000 None
8-7/8% Series due March 1, 2016........................... 100,000,000 None
8-1/8% Series due July 1, 1996............................ 125,000,000 None
8-1/2% Series due January 1, 2017......................... 100,000,000 None
9.174% Series due December 1, 1992........................ 100,000,000 None
9% Series due September 1, 1993........................... 100,000,000 None
9.60% Series due April 1, 1991............................ 100,000,000 None
Secured Medium-Term Notes, Series A....................... 200,000,000 None
8-1/8% Series due November 15, 1993....................... 100,000,000 None
Secured Medium-Term Notes, Series B....................... 100,000,000 None
8-7/8% Series due February 15, 2021...................... 125,000,000 None
9% Series due April 1, 2022............................... 100,000,000 None
8-5/8% Series due September 15, 2021...................... 100,000,000 100,000,000
5.20% Series due January 1, 1995.......................... 125,000,000 None
7-7/8% Series due April 15, 2004.......................... 150,000,000 150,000,000
8.20% Series due July 1, 2022............................. 150,000,000 150,000,000
6-3/4% Series due October 1, 2002......................... 100,000,000 100,000,000
6-1/8% Series due February 1, 2000........................ 150,000,000 None
7-1/2% Series due March 1, 2023........................... 150,000,000 150,000,000
5-3/8% Series due July 1, 1998............................ 100,000,000 None
Secured Medium-Term Notes, Series C....................... 200,000,000 None
6-7/8% Series due August 15, 2023......................... 100,000,000 100,000,000
5-7/8% Series due January 15, 2004........................ 150,000,000 150,000,000
Pollution Control Series L................................ 72,600,000 72,600,000
Pollution Control Series M................................ 50,000,000 50,000,000
6.80% Series due August 15, 2007.......................... 200,000,000 200,000,000
5.95% Senior Note Series due March 1, 2009................ 400,000,000 400,000,000
7.50% Senior Note Series due April 1, 2005................ 300,000,000 300,000,000
Pollution Control Series N................................ 67,300,000 67,300,000
Pollution Control Series O................................ 55,640,000 55,640,000
which bonds are sometimes called bonds of the First through Seventy-second
Series, respectively; and
WHEREAS, Section 8 of the Mortgage 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 and that the form of such
series, as established by said Board of Directors, shall specify the descriptive
title of the bonds and various other terms thereof, and may also contain such
provisions not inconsistent with the provisions of the Mortgage as said Board of
Directors 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, Section 120 of the Mortgage provides, among other things, that
any power, privilege or right expressly or impliedly reserved to or in any way
conferred upon the Company by any provision of the Mortgage, whether such power,
privilege or right is in any way restricted or is unrestricted, may be in whole
or in part waived or surrendered or subjected to any restriction if at the time
unrestricted or to additional restriction if already restricted, and the Company
may enter into any further covenants, limitations or restrictions for the
benefit of any one or more series of
6
bonds issued thereunder, or the Company may cure any ambiguity contained
therein, or in any supplemental indenture, or may establish the terms and
provisions of any series of bonds other than said First Series, by an instrument
in writing executed and acknowledged by the Company in such manner as would be
necessary to entitle a conveyance of real estate to record in all of the states
in which any property at the time subject to the lien of the Mortgage shall be
situated; and
WHEREAS, the Company now desires to create a new series of bonds and to
add to its covenants and agreements contained in the Mortgage, as heretofore
supplemented, certain other covenants and agreements to be observed by it and to
alter and amend in certain respects the covenants and provisions contained in
the Mortgage, as heretofore supplemented; and
WHEREAS, the execution and delivery by the Company of this Seventieth
Supplemental Indenture, and the terms of the bonds of the Seventy-third,
Seventy-fourth, Seventy-fifth, Seventy-sixth, Seventy-seventh, Seventy-eighth
and Seventy-ninth Series, hereinafter referred to, have been duly authorized by
the Board of Directors of the Company by appropriate resolutions of said Board
of Directors;
NOW, THEREFORE, THIS INDENTURE WITNESSETH:
That the Company, in consideration of the premises and of One Dollar to
it duly paid by the Trustees at or before the ensealing and delivery of these
presents, the receipt whereof is hereby acknowledged, and in further evidence of
assurance of the estate, title and rights of the Trustees and in order further
to secure 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
(including any instruments supplemental thereto and any modification made as in
the Mortgage provided) and of said bonds, hereby grants, bargains, sells,
releases, conveys, assigns, transfers, mortgages, pledges, sets over and
confirms (subject, however, to Excepted Encumbrances as defined in Section 6 of
the Mortgage) unto The Bank of New York and Xxxxxxx X. XxxXxxxx, as Trustees
under the Mortgage, and to their successor or successors in said trust, and to
said Trustees and their successors and assigns forever, all the following
described properties of the Company:
All electric generating plants, stations, transmission lines,
and electric distribution systems, including permanent improvements,
extensions or additions to or about such electrical plants, stations,
transmission lines and distribution systems of the Company; all dams,
power houses, power sites, buildings, generators, reservoirs, pipe
lines, flumes, structures and works; all substations, transformers,
switchboards, towers, poles, wires, insulators, and other appliances
and equipment, and the Company's rights or interests in the land upon
which the same are situated, and all other property, real or personal,
forming a part of or appertaining to, or used, occupied or enjoyed in
connection with said generating plants, stations, transmission lines,
and distribution systems; together with all rights of way, easements,
permits, privileges, franchises and rights for or related to the
construction, maintenance, or operation thereof, through, over, under
or upon any public streets or highways, or the public lands of the
United States, or of any State or other lands; and all water
appropriations and water rights, permits and privileges; including all
property, real, personal, and mixed, acquired by the Company after the
date of the execution and delivery of the Mortgage, in addition to
property covered by the above-mentioned supplemental indentures (except
any herein or in the Mortgage, as heretofore supplemented, expressly
excepted), now owned or, subject to the provisions of Section 87 of the
Mortgage, hereafter acquired by the Company and wheresoever situated,
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 this Seventieth Supplemental Indenture) all
lands, power sites, flowage rights, water rights, flumes, raceways,
dams, rights of way and roads; all steam and power houses, gas plants,
street lighting systems, standards and other equipment incidental
thereto, telephone, radio and television systems, air-conditioning
systems and equipment incidental thereto, water works, steam heat and
hot water plants, lines, service and supply systems, bridges, culverts,
tracts, ice or refrigeration plants and equipment, street and
interurban railway systems, offices, buildings and other structures and
the equipment thereof; all machinery, engines, boilers, dynamos,
electric and gas machines, regulators, meters, transformers,
generators, motors, electrical, gas and mechanical appliances,
conduits, cables, water, steam heat, gas or other pipes, gas mains and
pipes, service pipes, fittings, valves and connections, pole and
transmission lines, wires, cables, tools, implements, apparatus,
furniture, chattels and choses in action; all municipal and other
franchises, consents or permits; all lines for the transmission and
distribution of electric current, gas, steam heat or water for any
purpose including poles,
7
wires, cables, pipes, conduits, ducts and all apparatus for use in
connection therewith; all real estate, lands, easements, servitudes,
licenses, permits, franchises, privileges, rights of way and other
rights in or relating to real estate or the occupancy of the same and
(except as herein or in the Mortgage, as heretofore supplemented,
expressly excepted) all the right, title and interest of the Company in
and to all other property of any kind or nature appertaining to and/or
used and/or occupied and/or enjoyed in connection with any property
hereinbefore or in the Mortgage, as heretofore supplemented, described.
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 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.
IT IS HEREBY AGREED by the Company that, subject to the provisions of
Section 87 of the Mortgage, all the property, rights and franchises acquired by
the Company after the date hereof (except any herein or in the Mortgage, as
heretofore supplemented, expressly excepted) shall be and are as fully granted
and conveyed hereby and as fully embraced within the lien hereof and the lien of
the Mortgage as if such property, rights and franchises were now owned by the
Company and were specifically described herein and conveyed hereby.
PROVIDED THAT the following are not and are not intended to be now or
hereafter granted, bargained, sold, released, conveyed, assigned, transferred,
mortgaged, pledged, set over or confirmed hereunder and are hereby expressly
excepted from the lien and operation of this Seventieth Supplemental Indenture
and 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 and fuel, oil and
similar materials and supplies consumable in the operation of any properties of
the Company; rolling stock, buses, motor coaches, vehicles and automobiles; (3)
bills, notes and accounts receivable, and all contracts, leases and operating
agreements not specifically pledged under the Mortgage, as heretofore
supplemented, or this Seventieth Supplemental Indenture or covenanted so to be;
(4) electric energy and other materials or products generated, manufactured,
produced or purchased by the Company for sale, distribution or use in the
ordinary course of its business; and (5) any property and rights heretofore
released from the lien of the Mortgage; provided, however, that the property and
rights expressly excepted from the lien and operation of the Mortgage and this
Seventieth Supplemental Indenture in the above subdivisions (2) and (3) shall
(to the extent permitted by law) cease to be so excepted in the event and as of
the date that either or both of the Trustees 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 Mortgage by reason of the occurrence of a
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 as aforesaid, or intended so to
be, unto the Trustees, their successors 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
are set forth in the Mortgage, as heretofore supplemented, this Seventieth
Supplemental Indenture being supplemental to the Mortgage.
AND IT IS HEREBY COVENANTED by the Company that all the terms,
conditions, provisos, covenants and provisions contained in the Mortgage, as
heretofore supplemented, shall affect and apply to the property hereinbefore
described and conveyed and to the estate, rights, obligations and duties of the
Company and the Trustees and the beneficiaries of the trust with respect to said
property, and to the Trustees and their successors as Trustees of said property
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 Mortgage and had been
specifically and at length described in and conveyed to the Trustees by the
Mortgage as a part of the property therein stated to be conveyed.
8
The Company further covenants and agrees to and with the Trustees and
their successor or successors in such trust under the Mortgage as follows:
ARTICLE I
SEVENTY-THIRD SERIES OF BONDS
Section 1.(A)(I) There shall be a series of bonds designated "Pollution
Control Series P" (herein sometimes referred to as the "Seventy-third Series"),
each of which shall also bear the descriptive title "First Mortgage Bond," and
the form thereof, which shall be established by Resolution of the Board of
Directors of the Company, shall contain suitable provisions with respect to the
matters hereinafter in this Section specified. Bonds of the Seventy-third Series
shall be dated as in Section 10 of the Mortgage provided, and mature on October
1, 2022.
Bonds of the Seventy-third Series shall be issued as fully registered
bonds in denominations of Five Thousand Dollars and, at the option of the
Company, in any multiple or multiples of Five Thousand Dollars (the exercise of
such option to be evidenced by the execution and delivery thereof); they shall
bear interest on each portion thereof corresponding to particular Pollution
Control Revenue Refunding Bonds (Carolina Power & Light Company Project), 2000
Series B (the "Wake 2000 Series B Bonds") issued by The Wake County Industrial
Facilities and Pollution Control Financing Authority (the "Wake Authority")
under the Trust Indenture, dated as of July 1, 2000 (the "Wake Indenture"),
between the Wake Authority and First Union National Bank, as trustee (the "Wake
Trustee," which term includes any successor trustee under the Wake Indenture),
from the last Interest Payment Date (as such term is defined in the Wake
Indenture) (each a "Wake Interest Payment Date") to which interest on the
corresponding Wake 2000 Series B Bonds has been paid or, if no interest has been
paid on the corresponding Wake 2000 Series B Bonds, then from the date of first
authentication by the Corporate Trustee of bonds of the Seventy-third Series at
the rate from time to time borne by the corresponding Wake 2000 Series B Bonds;
provided, however, that in no event shall the rate of interest borne by the
bonds of the Seventy-third Series exceed 18% per annum. Interest on the bonds of
the Seventy-third Series shall be payable on each Wake Interest Payment Date for
the corresponding Wake 2000 Series B Bonds and at maturity. The principal of,
premium, if any, and interest on each said bond shall be payable 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.
(II) The bonds of the Seventy-third Series shall be initially issued in
the aggregate principal amount of $50,000,000 to, and registered in the name of,
the Wake Trustee in order to secure the obligation of the Company to repay loans
of the proceeds of the sale of the Wake 2000 Series B Bonds made by the Wake
Authority to the Company pursuant to the Loan Agreement, dated as of July 1,
2000 (the "Wake Loan Agreement"), to finance a portion of the costs of refunding
the outstanding $50,000,000 Pollution Control Revenue Bonds (Carolina Power &
Light Company Project) Series 1985B, $97,400,000 Pollution Control Revenue Bonds
(Carolina Power & Light Company Project) Series 1985C, $43,500,000 Pollution
Control Revenue Bonds (Carolina Power & Light Company Project) Series 1987 (of
which $41,700,000 is currently outstanding), $70,000,000 Pollution Control
Revenue Refunding Bonds (Carolina Power & Light Company Project) Series 1990A
and $70,000,000 Pollution Control Revenue Refunding Bonds (Carolina Power &
Light Company Project) Series 1990B (collectively, the "Wake Prior Bonds").
The Company's obligation to make payments with respect to the principal
of, premium, if any, and interest on the bonds of the Seventy-third Series shall
be fully or partially satisfied and discharged to the extent that, at the time
any such payment shall be due, the corresponding amount then due of principal
of, and/or premium, if any, and interest on the Wake 2000 Series B Bonds, issued
contemporaneously herewith, shall have been fully or partially paid (other than
by the application of the proceeds of a payment in respect of the bonds of the
Seventy-third Series or of payments made under the Policy (as such term is
defined in the Wake Indenture) (the "Wake Policy")), as the case may be, or
there shall have been deposited with the Wake Trustee pursuant to the Wake
Indenture trust funds sufficient under the Wake Indenture to pay fully or
partially, as the case may be, the corresponding amount then due of principal
of, and/or premium, if any, and/or interest on, the Wake 2000 Series B Bonds
(other than by the application of the proceeds of a payment in respect of the
bonds of the Seventy-third Series or of payments made under the Wake Policy).
9
Upon payment of the principal of, premium if any, and interest due on
the corresponding Wake 2000 Series B Bonds, whether at maturity or prior to
maturity by acceleration, redemption or otherwise, or upon provision for the
payment thereof having been made in accordance with the Wake Indenture (other
than by the application of the proceeds of a payment in respect of the bonds of
the Seventy-third Series or of payments made under the Wake Policy), bonds of
the Seventy-third Series in a principal amount equal to the principal amount of
Wake 2000 Series B Bonds so paid or for which such provision for payment has
been made shall be deemed fully paid, satisfied and discharged, and the
obligations of the Company thereunder shall be terminated and the bonds of the
Seventy-third Series shall be surrendered to the Corporate Trustee and canceled
by the Corporate Trustee in accordance with Section 56 of the Mortgage, except
as otherwise provided in the Wake Indenture.
From and after the Release Date (as such term is defined in the Wake
Indenture) (the "Wake Release Date"), and upon delivery to the Wake Trustee of
the documents provided for in Section 4.01(a)(iii) of the Wake Loan Agreement,
the bonds of the Seventy-third Series shall be deemed fully paid, satisfied and
discharged, the obligation of the Company thereunder shall be terminated, and
the bonds of the Seventy-third Series shall be surrendered to the Corporate
Trustee and canceled by the Corporate Trustee in accordance with Section 56 of
the Mortgage.
The Corporate Trustee may conclusively presume that the obligation of
the Company to pay the principal of, premium, if any, and interest on the bonds
of the Seventy-third Series as the same shall become due and payable shall have
been fully satisfied and discharged unless and until it shall have received a
written notice from the Wake Trustee, signed by its President, a Vice President
or a Trust Officer, stating that the corresponding payment of principal of, or
premium, if any, or interest on the Wake 2000 Series B Bonds has become due and
payable and has not been fully paid and, with respect to principal and premium,
if any, of the Wake 2000 Series B Bonds, specifying the principal of, and
premium, if any, on the Wake 2000 Series B Bonds then due and payable and the
amount of funds required to make such payment, and, with respect to interest on
the Wake 2000 Series B Bonds, specifying the last date to which interest has
been paid, the applicable rate of interest and the amount of funds required to
make such payment.
(III) In the event that any Wake 2000 Series B Bonds are to be redeemed
pursuant to the Wake Indenture, bonds of the Seventy-third Series, in a
principal amount equal to the principal amount of Wake 2000 Series B Bonds so to
be redeemed, shall be redeemed by the Company, on the date fixed for redemption
of such Wake 2000 Series B Bonds, at the principal amount thereof plus accrued
interest to such redemption date and, should any of the Wake 2000 Series B Bonds
so to be redeemed be redeemable at a price that includes a redemption premium,
together, in the case of the corresponding bonds of the Seventy-third Series,
with premium in an amount equal to such redemption premium on such Wake 2000
Series B Bonds.
In the event that the principal of the Bonds (as such term is defined
in the Wake Indenture) (the "Wake Bonds") shall have been declared by the Wake
Trustee to be due and payable pursuant to Section 12.03(1) of the Wake
Indenture, the bonds of the Seventy-third Series then Outstanding shall be
redeemed by the Company, immediately and on the same date as the Wake Bonds
thereby become so due and payable, at the principal amount thereof plus accrued
and unpaid interest, if any, to the date of their payment, together with premium
in an amount equal to any premium due and payable in respect of the Wake 2000
Series B Bonds (whether as a component of Purchase Price (as defined in the Wake
Indenture) or otherwise); provided, however, that if such declaration and its
consequences in respect of the Wake Bonds shall have been rescinded and annulled
in accordance with the provisions of Section 12.03(2) of the Wake Indenture, the
Company shall not be required so to redeem any bonds of the Seventy-third
Series.
The Corporate Trustee may conclusively presume that no redemption of
bonds of the Seventy-third Series is required pursuant to this subsection (III)
unless and until it shall have received a written notice from the Wake Trustee,
signed by its President, a Vice President or a Trust Officer, stating that the
Wake 2000 Series B Bonds are to be redeemed pursuant to the Wake Indenture or
stating that the principal of the Wake Bonds has been declared by the Wake
Trustee to be due and payable pursuant to Section 12.03(1) of the Wake
Indenture, as the case may be, and specifying the principal amount and premium,
if any, and accrued and unpaid interest, if any, and redemption date of the Wake
2000 Series B Bonds to be so redeemed. Said notice shall also contain a waiver
of notice of said redemption by the Wake Trustee, as holder of all the bonds of
the Seventy-third Series then Outstanding.
Bonds of the Seventy-third Series shall not be redeemable at the option
of the Company except as provided in this subsection (III).
10
(IV) The Company hereby waives its right to have any notice of
redemption pursuant to subsection (III) of this Section 1(A) state that such
notice is subject to the receipt of the redemption moneys by the Corporate
Trustee before the date fixed for redemption. Notwithstanding the provisions of
Section 52 of the Mortgage, any such notice under such subsection shall not be
conditional.
(V) The bonds of the Seventy-third Series shall not be transferable
except as required to effect an assignment to a successor trustee under the Wake
Indenture or a nominee of such trustee, any such transfer to be made at the
office or agency of the Company in the Borough of Manhattan, The City of New
York.
At the option of the registered owner, any bonds of the Seventy-third
Series, upon surrender thereof for cancellation at the office or agency of the
Company in the Borough of Manhattan, The City of New York, are exchangeable for
a like aggregate principal amount of bonds of the same series of other
authorized denominations. The bonds of the Seventy-third Series may bear such
legends as may be necessary to comply with any law or with any rules or
regulations made pursuant thereto or with the rules or regulations of any stock
exchange or to conform to usage or agreement with respect thereto.
Upon any exchange or transfer of bonds of the Seventy-third Series, the
Company may make a charge therefor sufficient to reimburse it for any tax or
taxes or other governmental charge required to be paid by the Company, as
provided in Section 12 of the Mortgage, but the Company hereby waives any right
to make a charge in addition thereto for any exchange or transfer of bonds of
said Series.
(VI) The Company covenants and agrees that, prior to the Wake Release
Date, it will not take any action that would cause the outstanding principal
amount of the bonds of the Seventy-third Series to be less than the then
outstanding principal amount of the Wake 2000 Series B Bonds.
SEVENTY-FOURTH SERIES OF BONDS
(B)(I) There shall be a series of bonds designated "Pollution Control
Series Q" (herein sometimes referred to as the "Seventy-fourth Series"), each of
which shall also bear the descriptive title "First Mortgage Bond," and the form
thereof, which shall be established by Resolution of the Board of Directors of
the Company, shall contain suitable provisions with respect to the matters
hereinafter in this Section specified. Bonds of the Seventy-fourth Series shall
be dated as in Section 10 of the Mortgage provided, and mature on October 1,
2022.
Bonds of the Seventy-fourth Series shall be issued as fully registered
bonds in denominations of Five Thousand Dollars and, at the option of the
Company, in any multiple or multiples of Five Thousand Dollars (the exercise of
such option to be evidenced by the execution and delivery thereof); they shall
bear interest on each portion thereof corresponding to particular Pollution
Control Revenue Refunding Bonds (Carolina Power & Light Company Project), 2000
Series C (the "Wake 2000 Series C Bonds") issued by the Wake Authority under the
Wake Indenture, from the last Wake Interest Payment Date to which interest on
the corresponding Wake 2000 Series C Bonds has been paid or, if no interest has
been paid on the corresponding Wake 2000 Series C Bonds, then from the date of
first authentication by the Corporate Trustee of bonds of the Seventy-fourth
Series at the rate from time to time borne by the corresponding Wake 2000 Series
C Bonds; provided, however, that in no event shall the rate of interest borne by
the bonds of the Seventy-fourth Series exceed 18% per annum. Interest on the
bonds of the Seventy-fourth Series shall be payable on each Wake Interest
Payment Date for the corresponding Wake 2000 Series C Bonds and at maturity. The
principal of, premium, if any, and interest on each said bond shall be payable
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.
(II) The bonds of the Seventy-fourth Series shall be initially issued
in the aggregate principal amount of $50,000,000 to, and registered in the name
of, the Wake Trustee in order to secure the obligation of the Company to repay
loans of the proceeds of the sale of the Wake 2000 Series C Bonds made by the
Wake Authority to the Company pursuant to the Wake Loan Agreement to finance a
portion of the costs of refunding the Wake Prior Bonds.
11
The Company's obligation to make payments with respect to the principal
of, premium, if any, and interest on the bonds of the Seventy-fourth Series
shall be fully or partially satisfied and discharged to the extent that, at the
time any such payment shall be due, the corresponding amount then due of
principal of, and/or premium, if any, and interest on the Wake 2000 Series C
Bonds, issued contemporaneously herewith, shall have been fully or partially
paid (other than by the application of the proceeds of a payment in respect of
the bonds of the Seventy-fourth Series or of payments made under the Wake
Policy), as the case may be, or there shall have been deposited with the Wake
Trustee pursuant to the Wake Indenture trust funds sufficient under the Wake
Indenture to pay fully or partially, as the case may be, the corresponding
amount then due of principal of, and/or premium, if any, and/or interest on, the
Wake 2000 Series C Bonds (other than by the application of the proceeds of a
payment in respect of the bonds of the Seventy-fourth Series or of payments made
under the Wake Policy).
Upon payment of the principal of, premium if any, and interest due on
the corresponding Wake 2000 Series C Bonds, whether at maturity or prior to
maturity by acceleration, redemption or otherwise, or upon provision for the
payment thereof having been made in accordance with the Wake Indenture (other
than by the application of the proceeds of a payment in respect of the bonds of
the Seventy-fourth Series or of payments made under the Wake Policy), bonds of
the Seventy-fourth Series in a principal amount equal to the principal amount of
Wake 2000 Series C Bonds so paid or for which such provision for payment has
been made shall be deemed fully paid, satisfied and discharged, and the
obligations of the Company thereunder shall be terminated and the bonds of the
Seventy-fourth Series shall be surrendered to the Corporate Trustee and canceled
by the Corporate Trustee in accordance with Section 56 of the Mortgage, except
as otherwise provided in the Wake Indenture.
From and after the Wake Release Date, and upon delivery to the Wake
Trustee of the documents provided for in Section 4.01(a)(iii) of the Wake Loan
Agreement, the bonds of the Seventy-fourth Series shall be deemed fully paid,
satisfied and discharged, the obligation of the Company thereunder shall be
terminated, and the bonds of the Seventy-fourth Series shall be surrendered to
the Corporate Trustee and canceled by the Corporate Trustee in accordance with
Section 56 of the Mortgage.
The Corporate Trustee may conclusively presume that the obligation of
the Company to pay the principal of, premium, if any, and interest on the bonds
of the Seventy-fourth Series as the same shall become due and payable shall have
been fully satisfied and discharged unless and until it shall have received a
written notice from the Wake Trustee, signed by its President, a Vice President
or a Trust Officer, stating that the corresponding payment of principal of, or
premium, if any, or interest on the Wake 2000 Series C Bonds has become due and
payable and has not been fully paid and, with respect to principal and premium,
if any, of the Wake 2000 Series C Bonds, specifying the principal of, and
premium, if any, on the Wake 2000 Series C Bonds then due and payable and the
amount of funds required to make such payment, and, with respect to interest on
the Wake 2000 Series C Bonds, specifying the last date to which interest has
been paid, the applicable rate of interest and the amount of funds required to
make such payment.
(III) In the event that any Wake 2000 Series C Bonds are to be redeemed
pursuant to the Wake Indenture, bonds of the Seventy-fourth Series, in a
principal amount equal to the principal amount of Wake 2000 Series C Bonds so to
be redeemed, shall be redeemed by the Company, on the date fixed for redemption
of such Wake 2000 Series C Bonds, at the principal amount thereof plus accrued
interest to such redemption date and, should any of the Wake 2000 Series C Bonds
so to be redeemed be redeemable at a price that includes a redemption premium,
together, in the case of the corresponding bonds of the Seventy-fourth Series,
with premium in an amount equal to such redemption premium on such Wake 2000
Series C Bonds.
In the event that the principal of the Wake Bonds shall have been
declared by the Wake Trustee to be due and payable pursuant to Section 12.03(1)
of the Wake Indenture, the bonds of the Seventy-fourth Series then Outstanding
shall be redeemed by the Company, immediately and on the same date as the Wake
Bonds thereby become so due and payable, at the principal amount thereof plus
accrued and unpaid interest, if any, to the date of their payment, together with
premium in an amount equal to any premium due and payable in respect of the Wake
2000 Series C Bonds (whether as a component of Purchase Price (as defined in the
Wake Indenture) or otherwise); provided, however, that if such declaration and
its consequences in respect of the Wake Bonds shall have been rescinded and
annulled in accordance with the provisions of Section 12.03(2) of the Wake
Indenture, the Company shall not be required so to redeem any bonds of the
Seventy-fourth Series.
12
The Corporate Trustee may conclusively presume that no redemption of
bonds of the Seventy-fourth Series is required pursuant to this subsection (III)
unless and until it shall have received a written notice from the Wake Trustee,
signed by its President, a Vice President or a Trust Officer, stating that the
Wake 2000 Series C Bonds are to be redeemed pursuant to the Wake Indenture or
stating that the principal of the Wake Bonds has been declared by the Wake
Trustee to be due and payable pursuant to Section 12.03(1) of the Wake
Indenture, as the case may be, and specifying the principal amount and premium,
if any, and accrued and unpaid interest, if any, and redemption date of the Wake
2000 Series C Bonds to be so redeemed. Said notice shall also contain a waiver
of notice of said redemption by the Wake Trustee, as holder of all the bonds of
the Seventy-fourth Series then Outstanding.
Bonds of the Seventy-fourth Series shall not be redeemable at the
option of the Company except as provided in this subsection (III).
(IV) The Company hereby waives its right to have any notice of
redemption pursuant to subsection (III) of this Section 1(A) state that such
notice is subject to the receipt of the redemption moneys by the Corporate
Trustee before the date fixed for redemption. Notwithstanding the provisions of
Section 52 of the Mortgage, any such notice under such subsection shall not be
conditional.
(V) The bonds of the Seventy-fourth Series shall not be transferable
except as required to effect an assignment to a successor trustee under the Wake
Indenture or a nominee of such trustee, any such transfer to be made at the
office or agency of the Company in the Borough of Manhattan, The City of New
York.
At the option of the registered owner, any bonds of the Seventy-fourth
Series, upon surrender thereof for cancellation at the office or agency of the
Company in the Borough of Manhattan, The City of New York, are exchangeable for
a like aggregate principal amount of bonds of the same series of other
authorized denominations. The bonds of the Seventy-fourth Series may bear such
legends as may be necessary to comply with any law or with any rules or
regulations made pursuant thereto or with the rules or regulations of any stock
exchange or to conform to usage or agreement with respect thereto.
Upon any exchange or transfer of bonds of the Seventy-fourth Series,
the Company may make a charge therefor sufficient to reimburse it for any tax or
taxes or other governmental charge required to be paid by the Company, as
provided in Section 12 of the Mortgage, but the Company hereby waives any right
to make a charge in addition thereto for any exchange or transfer of bonds of
said Series.
(VI) The Company covenants and agrees that, prior to the Wake Release
Date, it will not take any action that would cause the outstanding principal
amount of the bonds of the Seventy-fourth Series to be less than the then
outstanding principal amount of the Wake 2000 Series C Bonds.
SEVENTY-FIFTH SERIES OF BONDS
(C)(I) There shall be a series of bonds designated "Pollution Control
Series R" (herein sometimes referred to as the "Seventy-fifth Series"), each of
which shall also bear the descriptive title "First Mortgage Bond," and the form
thereof, which shall be established by Resolution of the Board of Directors of
the Company, shall contain suitable provisions with respect to the matters
hereinafter in this Section specified. Bonds of the Seventy-fifth Series shall
be dated as in Section 10 of the Mortgage provided, and mature on October 1,
2022.
Bonds of the Seventy-fifth Series shall be issued as fully registered
bonds in denominations of Five Thousand Dollars and, at the option of the
Company, in any multiple or multiples of Five Thousand Dollars (the exercise of
such option to be evidenced by the execution and delivery thereof); they shall
bear interest on each portion thereof corresponding to particular Solid Waste
Disposal Revenue Refunding Bonds (Carolina Power & Light Company Project), 2000
Series B (the "Person Bonds") issued by The Person County Industrial Facilities
and Pollution Control Financing Authority (the "Person Authority") under the
Trust Indenture, dated as of July 1, 2000 (the "Person Indenture"), between the
Person Authority and First Union National Bank, as trustee (the "Person
Trustee," which term includes any successor trustee under the Person Indenture),
from the last Interest Payment Date (as such term is defined in the Person
Indenture) (each a "Person Interest Payment Date") to which interest on the
corresponding Person Bonds has been paid or, if no interest has been paid on the
corresponding Person Bonds, then from the date of first
13
authentication by the Corporate Trustee of bonds of the Seventy-fifth Series at
the rate from time to time borne by the corresponding Person Bonds; provided,
however, that in no event shall the rate of interest borne by the bonds of the
Seventy-fifth Series exceed 18% per annum. Interest on the bonds of the
Seventy-fifth Series shall be payable on each Person Interest Payment Date for
the corresponding Person Bonds and at maturity. The principal of, premium, if
any, and interest on each said bond shall be payable 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.
(II) The bonds of the Seventy-fifth Series shall be initially issued in
the aggregate principal amount of $45,600,000 to, and registered in the name of,
the Person Trustee in order to secure the obligation of the Company to repay
loans of the proceeds of the sale of the Person Bonds made by the Person
Authority to the Company pursuant to the Loan Agreement, dated as of July 1,
2000 (the "Person Loan Agreement"), to finance costs of refunding the
outstanding $45,600,000 Solid Waste Disposal Revenue Bonds (Carolina Power &
Light Company Project) Series 1986.
The Company's obligation to make payments with respect to the principal
of, premium, if any, and interest on the bonds of the Seventy-fifth Series shall
be fully or partially satisfied and discharged to the extent that, at the time
any such payment shall be due, the corresponding amount then due of principal
of, and/or premium, if any, and interest on the Person Bonds, issued
contemporaneously herewith, shall have been fully or partially paid (other than
by the application of the proceeds of a payment in respect of the bonds of the
Seventy-fifth Series or of payments made under the Policy (as such term is
defined in the Person Indenture) (the "Person Policy")), as the case may be, or
there shall have been deposited with the Person Trustee pursuant to the Person
Indenture trust funds sufficient under the Person Indenture to pay fully or
partially, as the case may be, the corresponding amount then due of principal
of, and/or premium, if any, and/or interest on, the Person Bonds (other than by
the application of the proceeds of a payment in respect of the bonds of the
Seventy-fifth Series or of payments made under the Person Policy).
Upon payment of the principal of, premium if any, and interest due on
the corresponding Person Bonds, whether at maturity or prior to maturity by
acceleration, redemption or otherwise, or upon provision for the payment thereof
having been made in accordance with the Person Indenture (other than by the
application of the proceeds of a payment in respect of the bonds of the
Seventy-fifth Series or of payments made under the Person Policy), bonds of the
Seventy-fifth Series in a principal amount equal to the principal amount of
Person Bonds so paid or for which such provision for payment has been made shall
be deemed fully paid, satisfied and discharged, and the obligations of the
Company thereunder shall be terminated and the bonds of the Seventy-fifth Series
shall be surrendered to the Corporate Trustee and canceled by the Corporate
Trustee in accordance with Section 56 of the Mortgage, except as otherwise
provided in the Person Indenture.
From and after the Release Date (as such term is defined in the Person
Indenture) (the "Person Release Date"), and upon delivery to the Person Trustee
of the documents provided for in Section 4.01(a)(iii) of the Person Loan
Agreement, the bonds of the Seventy-fifth Series shall be deemed fully paid,
satisfied and discharged, the obligation of the Company thereunder shall be
terminated, and the bonds of the Seventy-fifth Series shall be surrendered to
the Corporate Trustee and canceled by the Corporate Trustee in accordance with
Section 56 of the Mortgage.
The Corporate Trustee may conclusively presume that the obligation of
the Company to pay the principal of, premium, if any, and interest on the bonds
of the Seventy-fifth Series as the same shall become due and payable shall have
been fully satisfied and discharged unless and until it shall have received a
written notice from the Person Trustee, signed by its President, a Vice
President or a Trust Officer, stating that the corresponding payment of
principal of, or premium, if any, or interest on the Person Bonds has become due
and payable and has not been fully paid and, with respect to principal and
premium, if any, of the Person Bonds, specifying the principal of, and premium,
if any, on the Person Bonds then due and payable and the amount of funds
required to make such payment, and, with respect to interest on the Person
Bonds, specifying the last date to which interest has been paid, the applicable
rate of interest and the amount of funds required to make such payment.
(III) In the event that any Person Bonds are to be redeemed pursuant to
the Person Indenture, bonds of the Seventy-fifth Series, in a principal amount
equal to the principal amount of Person Bonds so to be redeemed, shall be
redeemed by the Company, on the date fixed for redemption of such Person Bonds,
at the principal amount thereof plus
14
accrued interest to such redemption date and, should any of the Person Bonds so
to be redeemed be redeemable at a price that includes a redemption premium,
together, in the case of the corresponding bonds of the Seventy-fifth Series,
with premium in an amount equal to such redemption premium on such Person Bonds.
In the event that the principal of the Person Bonds shall have been
declared by the Person Trustee to be due and payable pursuant to Section
12.03(1) of the Person Indenture, the bonds of the Seventy-fifth Series then
Outstanding shall be redeemed by the Company, immediately and on the same date
as the Person Bonds thereby become so due and payable, at the principal amount
thereof plus accrued and unpaid interest, if any, to the date of their payment,
together with premium in an amount equal to any premium due and payable in
respect of the Person Bonds (whether as a component of Purchase Price (as
defined in the Person Indenture) or otherwise); provided, however, that if such
declaration and its consequences in respect of the Person Bonds shall have been
rescinded and annulled in accordance with the provisions of Section 12.03(2) of
the Person Indenture, the Company shall not be required so to redeem any bonds
of the Seventy-fifth Series.
The Corporate Trustee may conclusively presume that no redemption of
bonds of the Seventy-fifth Series is required pursuant to this subsection (III)
unless and until it shall have received a written notice from the Person
Trustee, signed by its President, a Vice President or a Trust Officer, stating
that the Person Bonds are to be redeemed pursuant to the Person Indenture or
stating that the principal of the Person Bonds has been declared by the Person
Trustee to be due and payable pursuant to Section 12.03(1) of the Person
Indenture, as the case may be, and specifying the principal amount and premium,
if any, and accrued and unpaid interest, if any, and redemption date of the
Person Bonds to be so redeemed. Said notice shall also contain a waiver of
notice of said redemption by the Person Trustee, as holder of all the bonds of
the Seventy-fifth Series then Outstanding.
Bonds of the Seventy-fifth Series shall not be redeemable at the option
of the Company except as provided in this subsection (III).
(IV) The Company hereby waives its right to have any notice of
redemption pursuant to subsection (III) of this Section 1(A) state that such
notice is subject to the receipt of the redemption moneys by the Corporate
Trustee before the date fixed for redemption. Notwithstanding the provisions of
Section 52 of the Mortgage, any such notice under such subsection shall not be
conditional.
(V) The bonds of the Seventy-fifth Series shall not be transferable
except as required to effect an assignment to a successor trustee under the
Person Indenture or a nominee of such trustee, any such transfer to be made at
the office or agency of the Company in the Borough of Manhattan, The City of New
York.
At the option of the registered owner, any bonds of the Seventy-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, are exchangeable for
a like aggregate principal amount of bonds of the same series of other
authorized denominations. The bonds of the Seventy-fifth Series may bear such
legends as may be necessary to comply with any law or with any rules or
regulations made pursuant thereto or with the rules or regulations of any stock
exchange or to conform to usage or agreement with respect thereto.
Upon any exchange or transfer of bonds of the Seventy-fifth Series, the
Company may make a charge therefor sufficient to reimburse it for any tax or
taxes or other governmental charge required to be paid by the Company, as
provided in Section 12 of the Mortgage, but the Company hereby waives any right
to make a charge in addition thereto for any exchange or transfer of bonds of
said Series.
(VI) The Company covenants and agrees that, prior to the Person Release
Date, it will not take any action that would cause the outstanding principal
amount of the bonds of the Seventy-fifth Series to be less than the then
outstanding principal amount of the Person Bonds.
SEVENTY-SIXTH SERIES OF BONDS
(D)(I) There shall be a series of bonds designated "Pollution Control
Series S" (herein sometimes referred to as the "Seventy-sixth Series"), each of
which shall also bear the descriptive title "First Mortgage Bond," and the form
15
thereof, which shall be established by Resolution of the Board of Directors of
the Company, shall contain suitable provisions with respect to the matters
hereinafter in this Section specified. Bonds of the Seventy-sixth Series shall
be dated as in Section 10 of the Mortgage provided, and mature on October 1,
2022.
Bonds of the Seventy-sixth Series shall be issued as fully registered
bonds in denominations of Five Thousand Dollars and, at the option of the
Company, in any multiple or multiples of Five Thousand Dollars (the exercise of
such option to be evidenced by the execution and delivery thereof); they shall
bear interest on each portion thereof corresponding to particular Pollution
Control Revenue Refunding Bonds (Carolina Power & Light Company Project), 2000
Series D (the "Wake 2000 Series D Bonds") issued by the Wake Authority under the
Wake Indenture, from the last Wake Interest Payment Date to which interest on
the corresponding Wake 2000 Series D Bonds has been paid or, if no interest has
been paid on the corresponding Wake 2000 Series D Bonds, then from the date of
first authentication by the Corporate Trustee of bonds of the Seventy-sixth
Series at the rate from time to time borne by the corresponding Wake 2000 Series
D Bonds; provided, however, that in no event shall the rate of interest borne by
the bonds of the Seventy-sixth Series exceed 18% per annum. Interest on the
bonds of the Seventy-sixth Series shall be payable on each Wake Interest Payment
Date for the corresponding Wake 2000 Series D Bonds and at maturity. The
principal of, premium, if any, and interest on each said bond shall be payable
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.
(II) The bonds of the Seventy-sixth Series shall be initially issued in
the aggregate principal amount of $41,700,000 to, and registered in the name of,
the Wake Trustee in order to secure the obligation of the Company to repay loans
of the proceeds of the sale of the Wake 2000 Series D Bonds made by the Wake
Authority to the Company pursuant to the Wake Loan Agreement to finance a
portion of the costs of refunding the Wake Prior Bonds.
The Company's obligation to make payments with respect to the principal
of, premium, if any, and interest on the bonds of the Seventy-sixth Series shall
be fully or partially satisfied and discharged to the extent that, at the time
any such payment shall be due, the corresponding amount then due of principal
of, and/or premium, if any, and interest on the Wake 2000 Series D Bonds, issued
contemporaneously herewith, shall have been fully or partially paid (other than
by the application of the proceeds of a payment in respect of the bonds of the
Seventy-sixth Series or of payments made under the Wake Policy), as the case may
be, or there shall have been deposited with the Wake Trustee pursuant to the
Wake Indenture trust funds sufficient under the Wake Indenture to pay fully or
partially, as the case may be, the corresponding amount then due of principal
of, and/or premium, if any, and/or interest on, the Wake 2000 Series D Bonds
(other than by the application of the proceeds of a payment in respect of the
bonds of the Seventy-sixth Series or of payments made under the Wake Policy).
Upon payment of the principal of, premium if any, and interest due on
the corresponding Wake 2000 Series D Bonds, whether at maturity or prior to
maturity by acceleration, redemption or otherwise, or upon provision for the
payment thereof having been made in accordance with the Wake Indenture (other
than by the application of the proceeds of a payment in respect of the bonds of
the Seventy-sixth Series or of payments made under the Wake Policy), bonds of
the Seventy-sixth Series in a principal amount equal to the principal amount of
Wake 2000 Series D Bonds so paid or for which such provision for payment has
been made shall be deemed fully paid, satisfied and discharged, and the
obligations of the Company thereunder shall be terminated and the bonds of the
Seventy-sixth Series shall be surrendered to the Corporate Trustee and canceled
by the Corporate Trustee in accordance with Section 56 of the Mortgage, except
as otherwise provided in the Wake Indenture.
From and after the Wake Release Date, and upon delivery to the Wake
Trustee of the documents provided for in Section 4.01(a)(iii) of the Wake Loan
Agreement, the bonds of the Seventy-sixth Series shall be deemed fully paid,
satisfied and discharged, the obligation of the Company thereunder shall be
terminated, and the bonds of the Seventy-sixth Series shall be surrendered to
the Corporate Trustee and canceled by the Corporate Trustee in accordance with
Section 56 of the Mortgage.
The Corporate Trustee may conclusively presume that the obligation of
the Company to pay the principal of, premium, if any, and interest on the bonds
of the Seventy-sixth Series as the same shall become due and payable shall have
been fully satisfied and discharged unless and until it shall have received a
written notice from the Wake Trustee, signed by its President, a Vice President
or a Trust Officer, stating that the corresponding payment of principal of, or
16
premium, if any, or interest on the Wake 2000 Series D Bonds has become due and
payable and has not been fully paid and, with respect to principal and premium,
if any, of the Wake 2000 Series D Bonds, specifying the principal of, and
premium, if any, on the Wake 2000 Series D Bonds then due and payable and the
amount of funds required to make such payment, and, with respect to interest on
the Wake 2000 Series D Bonds, specifying the last date to which interest has
been paid, the applicable rate of interest and the amount of funds required to
make such payment.
(III) In the event that any Wake 2000 Series D Bonds are to be redeemed
pursuant to the Wake Indenture, bonds of the Seventy-sixth Series, in a
principal amount equal to the principal amount of Wake 2000 Series D Bonds so to
be redeemed, shall be redeemed by the Company, on the date fixed for redemption
of such Wake 2000 Series D Bonds, at the principal amount thereof plus accrued
interest to such redemption date and, should any of the Wake 2000 Series D Bonds
so to be redeemed be redeemable at a price that includes a redemption premium,
together, in the case of the corresponding bonds of the Seventy-sixth Series,
with premium in an amount equal to such redemption premium on such Wake 2000
Series D Bonds.
In the event that the principal of the Wake Bonds shall have been
declared by the Wake Trustee to be due and payable pursuant to Section 12.03(1)
of the Wake Indenture, the bonds of the Seventy-sixth Series then Outstanding
shall be redeemed by the Company, immediately and on the same date as the Wake
Bonds thereby become so due and payable, at the principal amount thereof plus
accrued and unpaid interest, if any, to the date of their payment, together with
premium in an amount equal to any premium due and payable in respect of the Wake
2000 Series D Bonds (whether as a component of Purchase Price (as defined in the
Wake Indenture) or otherwise); provided, however, that if such declaration and
its consequences in respect of the Wake Bonds shall have been rescinded and
annulled in accordance with the provisions of Section 12.03(2) of the Wake
Indenture, the Company shall not be required so to redeem any bonds of the
Seventy-sixth Series.
The Corporate Trustee may conclusively presume that no redemption of
bonds of the Seventy-sixth Series is required pursuant to this subsection (III)
unless and until it shall have received a written notice from the Wake Trustee,
signed by its President, a Vice President or a Trust Officer, stating that the
Wake 2000 Series D Bonds are to be redeemed pursuant to the Wake Indenture or
stating that the principal of the Wake Bonds has been declared by the Wake
Trustee to be due and payable pursuant to Section 12.03(1) of the Wake
Indenture, as the case may be, and specifying the principal amount and premium,
if any, and accrued and unpaid interest, if any, and redemption date of the Wake
2000 Series D Bonds to be so redeemed. Said notice shall also contain a waiver
of notice of said redemption by the Wake Trustee, as holder of all the bonds of
the Seventy-sixth Series then Outstanding.
Bonds of the Seventy-sixth Series shall not be redeemable at the option
of the Company except as provided in this subsection (III).
(IV) The Company hereby waives its right to have any notice of
redemption pursuant to subsection (III) of this Section 1(A) state that such
notice is subject to the receipt of the redemption moneys by the Corporate
Trustee before the date fixed for redemption. Notwithstanding the provisions of
Section 52 of the Mortgage, any such notice under such subsection shall not be
conditional.
(V) The bonds of the Seventy-sixth Series shall not be transferable
except as required to effect an assignment to a successor trustee under the Wake
Indenture or a nominee of such trustee, any such transfer to be made at the
office or agency of the Company in the Borough of Manhattan, The City of New
York.
At the option of the registered owner, any bonds of the Seventy-sixth
Series, upon surrender thereof for cancellation at the office or agency of the
Company in the Borough of Manhattan, The City of New York, are exchangeable for
a like aggregate principal amount of bonds of the same series of other
authorized denominations. The bonds of the Seventy-sixth Series may bear such
legends as may be necessary to comply with any law or with any rules or
regulations made pursuant thereto or with the rules or regulations of any stock
exchange or to conform to usage or agreement with respect thereto.
Upon any exchange or transfer of bonds of the Seventy-sixth Series, the
Company may make a charge therefor sufficient to reimburse it for any tax or
taxes or other governmental charge required to be paid by the Company, as
17
provided in Section 12 of the Mortgage, but the Company hereby waives any right
to make a charge in addition thereto for any exchange or transfer of bonds of
said Series.
(VI) The Company covenants and agrees that, prior to the Wake Release
Date, it will not take any action that would cause the outstanding principal
amount of the bonds of the Seventy-sixth Series to be less than the then
outstanding principal amount of the Wake 2000 Series D Bonds.
SEVENTY-SEVENTH SERIES OF BONDS
(E)(I) There shall be a series of bonds designated "Pollution Control
Series T" (herein sometimes referred to as the "Seventy-seventh Series"), each
of which shall also bear the descriptive title "First Mortgage Bond," and the
form thereof, which shall be established by Resolution of the Board of Directors
of the Company, shall contain suitable provisions with respect to the matters
hereinafter in this Section specified. Bonds of the Seventy-seventh Series shall
be dated as in Section 10 of the Mortgage provided, and mature on October 1,
2022.
Bonds of the Seventy-seventh Series shall be issued as fully registered
bonds in denominations of Five Thousand Dollars and, at the option of the
Company, in any multiple or multiples of Five Thousand Dollars (the exercise of
such option to be evidenced by the execution and delivery thereof); they shall
bear interest on each portion thereof corresponding to particular Pollution
Control Revenue Refunding Bonds (Carolina Power & Light Company Project), 2000
Series E (the "Wake 2000 Series E Bonds") issued by the Wake Authority under the
Wake Indenture, from the last Wake Interest Payment Date to which interest on
the corresponding Wake 2000 Series E Bonds has been paid or, if no interest has
been paid on the corresponding Wake 2000 Series E Bonds, then from the date of
first authentication by the Corporate Trustee of bonds of the Seventy-seventh
Series at the rate from time to time borne by the corresponding Wake 2000 Series
E Bonds; provided, however, that in no event shall the rate of interest borne by
the bonds of the Seventy-seventh Series exceed 18% per annum. Interest on the
bonds of the Seventy-seventh Series shall be payable on each Wake Interest
Payment Date for the corresponding Wake 2000 Series E Bonds and at maturity. The
principal of, premium, if any, and interest on each said bond shall be payable
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.
(II) The bonds of the Seventy-seventh Series shall be initially issued
in the aggregate principal amount of $50,000,000 to, and registered in the name
of, the Wake Trustee in order to secure the obligation of the Company to repay
loans of the proceeds of the sale of the Wake 2000 Series E Bonds made by the
Wake Authority to the Company pursuant to the Wake Loan Agreement to finance a
portion of the costs of refunding the Wake Prior Bonds.
The Company's obligation to make payments with respect to the principal
of, premium, if any, and interest on the bonds of the Seventy-seventh Series
shall be fully or partially satisfied and discharged to the extent that, at the
time any such payment shall be due, the corresponding amount then due of
principal of, and/or premium, if any, and interest on the Wake 2000 Series E
Bonds, issued contemporaneously herewith, shall have been fully or partially
paid (other than by the application of the proceeds of a payment in respect of
the bonds of the Seventy-seventh Series or of payments made under the Wake
Policy), as the case may be, or there shall have been deposited with the Wake
Trustee pursuant to the Wake Indenture trust funds sufficient under the Wake
Indenture to pay fully or partially, as the case may be, the corresponding
amount then due of principal of, and/or premium, if any, and/or interest on, the
Wake 2000 Series E Bonds (other than by the application of the proceeds of a
payment in respect of the bonds of the Seventy-seventh Series or of payments
made under the Wake Policy).
Upon payment of the principal of, premium if any, and interest due on
the corresponding Wake 2000 Series E Bonds, whether at maturity or prior to
maturity by acceleration, redemption or otherwise, or upon provision for the
payment thereof having been made in accordance with the Wake Indenture (other
than by the application of the proceeds of a payment in respect of the bonds of
the Seventy-seventh Series or of payments made under the Wake Policy), bonds of
the Seventy-seventh Series in a principal amount equal to the principal amount
of Wake 2000 Series E Bonds so paid or for which such provision for payment has
been made shall be deemed fully paid, satisfied and discharged, and the
obligations of the Company thereunder shall be terminated and the bonds of the
Seventy-seventh Series shall be surrendered to the Corporate Trustee and
canceled by the Corporate Trustee in accordance with Section 56 of the Mortgage,
except as otherwise provided in the Wake Indenture.
18
From and after the Wake Release Date, and upon delivery to the Wake
Trustee of the documents provided for in Section 4.01(a)(iii) of the Wake Loan
Agreement, the bonds of the Seventy-seventh Series shall be deemed fully paid,
satisfied and discharged, the obligation of the Company thereunder shall be
terminated, and the bonds of the Seventy-seventh Series shall be surrendered to
the Corporate Trustee and canceled by the Corporate Trustee in accordance with
Section 56 of the Mortgage.
The Corporate Trustee may conclusively presume that the obligation of
the Company to pay the principal of, premium, if any, and interest on the bonds
of the Seventy-seventh Series as the same shall become due and payable shall
have been fully satisfied and discharged unless and until it shall have received
a written notice from the Wake Trustee, signed by its President, a Vice
President or a Trust Officer, stating that the corresponding payment of
principal of, or premium, if any, or interest on the Wake 2000 Series E Bonds
has become due and payable and has not been fully paid and, with respect to
principal and premium, if any, of the Wake 2000 Series E Bonds, specifying the
principal of, and premium, if any, on the Wake 2000 Series E Bonds then due and
payable and the amount of funds required to make such payment, and, with respect
to interest on the Wake 2000 Series E Bonds, specifying the last date to which
interest has been paid, the applicable rate of interest and the amount of funds
required to make such payment.
(III) In the event that any Wake 2000 Series E Bonds are to be redeemed
pursuant to the Wake Indenture, bonds of the Seventy-seventh Series, in a
principal amount equal to the principal amount of Wake 2000 Series E Bonds so to
be redeemed, shall be redeemed by the Company, on the date fixed for redemption
of such Wake 2000 Series E Bonds, at the principal amount thereof plus accrued
interest to such redemption date and, should any of the Wake 2000 Series E Bonds
so to be redeemed be redeemable at a price that includes a redemption premium,
together, in the case of the corresponding bonds of the Seventy-seventh Series,
with premium in an amount equal to such redemption premium on such Wake 2000
Series E Bonds.
In the event that the principal of the Wake Bonds shall have been
declared by the Wake Trustee to be due and payable pursuant to Section 12.03(1)
of the Wake Indenture, the bonds of the Seventy-seventh Series then Outstanding
shall be redeemed by the Company, immediately and on the same date as the Wake
Bonds thereby become so due and payable, at the principal amount thereof plus
accrued and unpaid interest, if any, to the date of their payment, together with
premium in an amount equal to any premium due and payable in respect of the Wake
2000 Series E Bonds (whether as a component of Purchase Price (as defined in the
Wake Indenture) or otherwise); provided, however, that if such declaration and
its consequences in respect of the Wake Bonds shall have been rescinded and
annulled in accordance with the provisions of Section 12.03(2) of the Wake
Indenture, the Company shall not be required so to redeem any bonds of the
Seventy-seventh Series.
The Corporate Trustee may conclusively presume that no redemption of
bonds of the Seventy-seventh Series is required pursuant to this subsection
(III) unless and until it shall have received a written notice from the Wake
Trustee, signed by its President, a Vice President or a Trust Officer, stating
that the Wake 2000 Series E Bonds are to be redeemed pursuant to the Wake
Indenture or stating that the principal of the Wake Bonds has been declared by
the Wake Trustee to be due and payable pursuant to Section 12.03(1) of the Wake
Indenture, as the case may be, and specifying the principal amount and premium,
if any, and accrued and unpaid interest, if any, and redemption date of the Wake
2000 Series E Bonds to be so redeemed. Said notice shall also contain a waiver
of notice of said redemption by the Wake Trustee, as holder of all the bonds of
the Seventy-seventh Series then Outstanding.
Bonds of the Seventy-seventh Series shall not be redeemable at the
option of the Company except as provided in this subsection (III).
(IV) The Company hereby waives its right to have any notice of
redemption pursuant to subsection (III) of this Section 1(A) state that such
notice is subject to the receipt of the redemption moneys by the Corporate
Trustee before the date fixed for redemption. Notwithstanding the provisions of
Section 52 of the Mortgage, any such notice under such subsection shall not be
conditional.
(V) The bonds of the Seventy-seventh Series shall not be transferable
except as required to effect an assignment to a successor trustee under the Wake
Indenture or a nominee of such trustee, any such transfer to be made at the
office or agency of the Company in the Borough of Manhattan, The City of New
York.
19
At the option of the registered owner, any bonds of the Seventy-seventh
Series, upon surrender thereof for cancellation at the office or agency of the
Company in the Borough of Manhattan, The City of New York, are exchangeable for
a like aggregate principal amount of bonds of the same series of other
authorized denominations. The bonds of the Seventy-seventh Series may bear such
legends as may be necessary to comply with any law or with any rules or
regulations made pursuant thereto or with the rules or regulations of any stock
exchange or to conform to usage or agreement with respect thereto.
Upon any exchange or transfer of bonds of the Seventy-seventh Series,
the Company may make a charge therefor sufficient to reimburse it for any tax or
taxes or other governmental charge required to be paid by the Company, as
provided in Section 12 of the Mortgage, but the Company hereby waives any right
to make a charge in addition thereto for any exchange or transfer of bonds of
said Series.
(VI) The Company covenants and agrees that, prior to the Wake Release
Date, it will not take any action that would cause the outstanding principal
amount of the bonds of the Seventy-seventh Series to be less than the then
outstanding principal amount of the Wake 2000 Series E Bonds.
SEVENTY-EIGHTH SERIES OF BONDS
(F)(I) There shall be a series of bonds designated "Pollution Control
Series U" (herein sometimes referred to as the "Seventy-eighth Series"), each of
which shall also bear the descriptive title "First Mortgage Bond," and the form
thereof, which shall be established by Resolution of the Board of Directors of
the Company, shall contain suitable provisions with respect to the matters
hereinafter in this Section specified. Bonds of the Seventy-eighth Series shall
be dated as in Section 10 of the Mortgage provided, and mature on October 1,
2022.
Bonds of the Seventy-eighth Series shall be issued as fully registered
bonds in denominations of Five Thousand Dollars and, at the option of the
Company, in any multiple or multiples of Five Thousand Dollars (the exercise of
such option to be evidenced by the execution and delivery thereof); they shall
bear interest on each portion thereof corresponding to particular Pollution
Control Revenue Refunding Bonds (Carolina Power & Light Company Project), 2000
Series F (the "Wake 2000 Series F Bonds") issued by the Wake Authority under the
Wake Indenture, from the last Wake Interest Payment Date to which interest on
the corresponding Wake 2000 Series F Bonds has been paid or, if no interest has
been paid on the corresponding Wake 2000 Series F Bonds, then from the date of
first authentication by the Corporate Trustee of bonds of the Seventy-eighth
Series at the rate from time to time borne by the corresponding Wake 2000 Series
F Bonds; provided, however, that in no event shall the rate of interest borne by
the bonds of the Seventy-eighth Series exceed 18% per annum. Interest on the
bonds of the Seventy-eighth Series shall be payable on each Wake Interest
Payment Date for the corresponding Wake 2000 Series F Bonds and at maturity. The
principal of, premium, if any, and interest on each said bond shall be payable
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.
(II) The bonds of the Seventy-eighth Series shall be initially issued
in the aggregate principal amount of $50,000,000 to, and registered in the name
of, the Wake Trustee in order to secure the obligation of the Company to repay
loans of the proceeds of the sale of the Wake 2000 Series F Bonds made by the
Wake Authority to the Company pursuant to the Wake Loan Agreement to finance a
portion of the costs of refunding the Wake Prior Bonds.
The Company's obligation to make payments with respect to the principal
of, premium, if any, and interest on the bonds of the Seventy-eighth Series
shall be fully or partially satisfied and discharged to the extent that, at the
time any such payment shall be due, the corresponding amount then due of
principal of, and/or premium, if any, and interest on the Wake 2000 Series F
Bonds, issued contemporaneously herewith, shall have been fully or partially
paid (other than by the application of the proceeds of a payment in respect of
the bonds of the Seventy-eighth Series or of payments made under the Wake
Policy), as the case may be, or there shall have been deposited with the Wake
Trustee pursuant to the Wake Indenture trust funds sufficient under the Wake
Indenture to pay fully or partially, as the case may be, the corresponding
amount then due of principal of, and/or premium, if any, and/or interest on, the
Wake 2000 Series F Bonds (other than by the application of the proceeds of a
payment in respect of the bonds of the Seventy-eighth Series or of payments made
under the Wake Policy).
20
Upon payment of the principal of, premium if any, and interest due on
the corresponding Wake 2000 Series F Bonds, whether at maturity or prior to
maturity by acceleration, redemption or otherwise, or upon provision for the
payment thereof having been made in accordance with the Wake Indenture (other
than by the application of the proceeds of a payment in respect of the bonds of
the Seventy-eighth Series or of payments made under the Wake Policy), bonds of
the Seventy-eighth Series in a principal amount equal to the principal amount of
Wake 2000 Series F Bonds so paid or for which such provision for payment has
been made shall be deemed fully paid, satisfied and discharged, and the
obligations of the Company thereunder shall be terminated and the bonds of the
Seventy-eighth Series shall be surrendered to the Corporate Trustee and canceled
by the Corporate Trustee in accordance with Section 56 of the Mortgage, except
as otherwise provided in the Wake Indenture.
From and after the Wake Release Date, and upon delivery to the Wake
Trustee of the documents provided for in Section 4.01(a)(iii) of the Wake Loan
Agreement, the bonds of the Seventy-eighth Series shall be deemed fully paid,
satisfied and discharged, the obligation of the Company thereunder shall be
terminated, and the bonds of the Seventy-eighth Series shall be surrendered to
the Corporate Trustee and canceled by the Corporate Trustee in accordance with
Section 56 of the Mortgage.
The Corporate Trustee may conclusively presume that the obligation of
the Company to pay the principal of, premium, if any, and interest on the bonds
of the Seventy-eighth Series as the same shall become due and payable shall have
been fully satisfied and discharged unless and until it shall have received a
written notice from the Wake Trustee, signed by its President, a Vice President
or a Trust Officer, stating that the corresponding payment of principal of, or
premium, if any, or interest on the Wake 2000 Series F Bonds has become due and
payable and has not been fully paid and, with respect to principal and premium,
if any, of the Wake 2000 Series F Bonds, specifying the principal of, and
premium, if any, on the Wake 2000 Series F Bonds then due and payable and the
amount of funds required to make such payment, and, with respect to interest on
the Wake 2000 Series F Bonds, specifying the last date to which interest has
been paid, the applicable rate of interest and the amount of funds required to
make such payment.
(III) In the event that any Wake 2000 Series F Bonds are to be redeemed
pursuant to the Wake Indenture, bonds of the Seventy-eighth Series, in a
principal amount equal to the principal amount of Wake 2000 Series F Bonds so to
be redeemed, shall be redeemed by the Company, on the date fixed for redemption
of such Wake 2000 Series F Bonds, at the principal amount thereof plus accrued
interest to such redemption date and, should any of the Wake 2000 Series F Bonds
so to be redeemed be redeemable at a price that includes a redemption premium,
together, in the case of the corresponding bonds of the Seventy-eighth Series,
with premium in an amount equal to such redemption premium on such Wake 2000
Series F Bonds.
In the event that the principal of the Wake Bonds shall have been
declared by the Wake Trustee to be due and payable pursuant to Section 12.03(1)
of the Wake Indenture, the bonds of the Seventy-eighth Series then Outstanding
shall be redeemed by the Company, immediately and on the same date as the Wake
Bonds thereby become so due and payable, at the principal amount thereof plus
accrued and unpaid interest, if any, to the date of their payment, together with
premium in an amount equal to any premium due and payable in respect of the Wake
2000 Series F Bonds (whether as a component of Purchase Price (as defined in the
Wake Indenture) or otherwise); provided, however, that if such declaration and
its consequences in respect of the Wake Bonds shall have been rescinded and
annulled in accordance with the provisions of Section 12.03(2) of the Wake
Indenture, the Company shall not be required so to redeem any bonds of the
Seventy-eighth Series.
The Corporate Trustee may conclusively presume that no redemption of
bonds of the Seventy-eighth Series is required pursuant to this subsection (III)
unless and until it shall have received a written notice from the Wake Trustee,
signed by its President, a Vice President or a Trust Officer, stating that the
Wake 2000 Series F Bonds are to be redeemed pursuant to the Wake Indenture or
stating that the principal of the Wake Bonds has been declared by the Wake
Trustee to be due and payable pursuant to Section 12.03(1) of the Wake
Indenture, as the case may be, and specifying the principal amount and premium,
if any, and accrued and unpaid interest, if any, and redemption date of the Wake
2000 Series F Bonds to be so redeemed. Said notice shall also contain a waiver
of notice of said redemption by the Wake Trustee, as holder of all the bonds of
the Seventy-eighth Series then Outstanding.
21
Bonds of the Seventy-eighth Series shall not be redeemable at the
option of the Company except as provided in this subsection (III).
(IV) The Company hereby waives its right to have any notice of
redemption pursuant to subsection (III) of this Section 1(A) state that such
notice is subject to the receipt of the redemption moneys by the Corporate
Trustee before the date fixed for redemption. Notwithstanding the provisions of
Section 52 of the Mortgage, any such notice under such subsection shall not be
conditional.
(V) The bonds of the Seventy-eighth Series shall not be transferable
except as required to effect an assignment to a successor trustee under the Wake
Indenture or a nominee of such trustee, any such transfer to be made at the
office or agency of the Company in the Borough of Manhattan, The City of New
York.
At the option of the registered owner, any bonds of the Seventy-eighth
Series, upon surrender thereof for cancellation at the office or agency of the
Company in the Borough of Manhattan, The City of New York, are exchangeable for
a like aggregate principal amount of bonds of the same series of other
authorized denominations. The bonds of the Seventy-eighth Series may bear such
legends as may be necessary to comply with any law or with any rules or
regulations made pursuant thereto or with the rules or regulations of any stock
exchange or to conform to usage or agreement with respect thereto.
Upon any exchange or transfer of bonds of the Seventy-eighth Series,
the Company may make a charge therefor sufficient to reimburse it for any tax or
taxes or other governmental charge required to be paid by the Company, as
provided in Section 12 of the Mortgage, but the Company hereby waives any right
to make a charge in addition thereto for any exchange or transfer of bonds of
said Series.
(VI) The Company covenants and agrees that, prior to the Wake Release
Date, it will not take any action that would cause the outstanding principal
amount of the bonds of the Seventy-eighth Series to be less than the then
outstanding principal amount of the Wake 2000 Series F Bonds.
SEVENTY-NINTH SERIES OF BONDS
(G)(I) There shall be a series of bonds designated "Pollution Control
Series V" (herein sometimes referred to as the "Seventy-ninth Series"), each of
which shall also bear the descriptive title "First Mortgage Bond," and the form
thereof, which shall be established by Resolution of the Board of Directors of
the Company, shall contain suitable provisions with respect to the matters
hereinafter in this Section specified. Bonds of the Seventy-ninth Series shall
be dated as in Section 10 of the Mortgage provided, and mature on October 1,
2022.
Bonds of the Seventy-ninth Series shall be issued as fully registered
bonds in denominations of Five Thousand Dollars and, at the option of the
Company, in any multiple or multiples of Five Thousand Dollars (the exercise of
such option to be evidenced by the execution and delivery thereof); they shall
bear interest on each portion thereof corresponding to particular Pollution
Control Revenue Refunding Bonds (Carolina Power & Light Company Project), 2000
Series G (the "Wake 2000 Series G Bonds") issued by the Wake Authority under the
Wake Indenture, from the last Wake Interest Payment Date to which interest on
the corresponding Wake 2000 Series G Bonds has been paid or, if no interest has
been paid on the corresponding Wake 2000 Series G Bonds, then from the date of
first authentication by the Corporate Trustee of bonds of the Seventy-ninth
Series at the rate from time to time borne by the corresponding Wake 2000 Series
G Bonds; provided, however, that in no event shall the rate of interest borne by
the bonds of the Seventy-ninth Series exceed 18% per annum. Interest on the
bonds of the Seventy-ninth Series shall be payable on each Wake Interest Payment
Date for the corresponding Wake 2000 Series G Bonds and at maturity. The
principal of, premium, if any, and interest on each said bond shall be payable
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.
(II) The bonds of the Seventy-ninth Series shall be initially issued in
the aggregate principal amount of $87,400,000 to, and registered in the name of,
the Wake Trustee in order to secure the obligation of the Company to repay loans
of the proceeds of the sale of the Wake 2000 Series G Bonds made by the Wake
Authority to the Company pursuant to the Wake Loan Agreement to finance a
portion of the costs of refunding the Wake Prior Bonds.
22
The Company's obligation to make payments with respect to the principal
of, premium, if any, and interest on the bonds of the Seventy-ninth Series shall
be fully or partially satisfied and discharged to the extent that, at the time
any such payment shall be due, the corresponding amount then due of principal
of, and/or premium, if any, and interest on the Wake 2000 Series G Bonds, issued
contemporaneously herewith, shall have been fully or partially paid (other than
by the application of the proceeds of a payment in respect of the bonds of the
Seventy-ninth Series or of payments made under the Wake Policy), as the case may
be, or there shall have been deposited with the Wake Trustee pursuant to the
Wake Indenture trust funds sufficient under the Wake Indenture to pay fully or
partially, as the case may be, the corresponding amount then due of principal
of, and/or premium, if any, and/or interest on, the Wake 2000 Series G Bonds
(other than by the application of the proceeds of a payment in respect of the
bonds of the Seventy-ninth Series or of payments made under the Wake Policy).
Upon payment of the principal of, premium if any, and interest due on
the corresponding Wake 2000 Series G Bonds, whether at maturity or prior to
maturity by acceleration, redemption or otherwise, or upon provision for the
payment thereof having been made in accordance with the Wake Indenture (other
than by the application of the proceeds of a payment in respect of the bonds of
the Seventy-ninth Series or of payments made under the Wake Policy), bonds of
the Seventy-ninth Series in a principal amount equal to the principal amount of
Wake 2000 Series G Bonds so paid or for which such provision for payment has
been made shall be deemed fully paid, satisfied and discharged, and the
obligations of the Company thereunder shall be terminated and the bonds of the
Seventy-ninth Series shall be surrendered to the Corporate Trustee and canceled
by the Corporate Trustee in accordance with Section 56 of the Mortgage, except
as otherwise provided in the Wake Indenture.
From and after the Wake Release Date, and upon delivery to the Wake
Trustee of the documents provided for in Section 4.01(a)(iii) of the Wake Loan
Agreement, the bonds of the Seventy-ninth Series shall be deemed fully paid,
satisfied and discharged, the obligation of the Company thereunder shall be
terminated, and the bonds of the Seventy-ninth Series shall be surrendered to
the Corporate Trustee and canceled by the Corporate Trustee in accordance with
Section 56 of the Mortgage.
The Corporate Trustee may conclusively presume that the obligation of
the Company to pay the principal of, premium, if any, and interest on the bonds
of the Seventy-ninth Series as the same shall become due and payable shall have
been fully satisfied and discharged unless and until it shall have received a
written notice from the Wake Trustee, signed by its President, a Vice President
or a Trust Officer, stating that the corresponding payment of principal of, or
premium, if any, or interest on the Wake 2000 Series G Bonds has become due and
payable and has not been fully paid and, with respect to principal and premium,
if any, of the Wake 2000 Series G Bonds, specifying the principal of, and
premium, if any, on the Wake 2000 Series G Bonds then due and payable and the
amount of funds required to make such payment, and, with respect to interest on
the Wake 2000 Series G Bonds, specifying the last date to which interest has
been paid, the applicable rate of interest and the amount of funds required to
make such payment.
(III) In the event that any Wake 2000 Series G Bonds are to be redeemed
pursuant to the Wake Indenture, bonds of the Seventy-ninth Series, in a
principal amount equal to the principal amount of Wake 2000 Series G Bonds so to
be redeemed, shall be redeemed by the Company, on the date fixed for redemption
of such Wake 2000 Series G Bonds, at the principal amount thereof plus accrued
interest to such redemption date and, should any of the Wake 2000 Series G Bonds
so to be redeemed be redeemable at a price that includes a redemption premium,
together, in the case of the corresponding bonds of the Seventy-ninth Series,
with premium in an amount equal to such redemption premium on such Wake 2000
Series G Bonds.
In the event that the principal of the Wake Bonds shall have been
declared by the Wake Trustee to be due and payable pursuant to Section 12.03(1)
of the Wake Indenture, the bonds of the Seventy-ninth Series then Outstanding
shall be redeemed by the Company, immediately and on the same date as the Wake
Bonds thereby become so due and payable, at the principal amount thereof plus
accrued and unpaid interest, if any, to the date of their payment, together with
premium in an amount equal to any premium due and payable in respect of the Wake
2000 Series G Bonds (whether as a component of Purchase Price (as defined in the
Wake Indenture) or otherwise); provided, however, that if such declaration and
its consequences in respect of the Wake Bonds shall have been rescinded and
annulled in accordance with the provisions of Section 12.03(2) of the Wake
Indenture, the Company shall not be required so to redeem any bonds of the
Seventy-ninth Series.
23
The Corporate Trustee may conclusively presume that no redemption of
bonds of the Seventy-ninth Series is required pursuant to this subsection (III)
unless and until it shall have received a written notice from the Wake Trustee,
signed by its President, a Vice President or a Trust Officer, stating that the
Wake 2000 Series G Bonds are to be redeemed pursuant to the Wake Indenture or
stating that the principal of the Wake Bonds has been declared by the Wake
Trustee to be due and payable pursuant to Section 12.03(1) of the Wake
Indenture, as the case may be, and specifying the principal amount and premium,
if any, and accrued and unpaid interest, if any, and redemption date of the Wake
2000 Series G Bonds to be so redeemed. Said notice shall also contain a waiver
of notice of said redemption by the Wake Trustee, as holder of all the bonds of
the Seventy-ninth Series then Outstanding.
Bonds of the Seventy-ninth Series shall not be redeemable at the option
of the Company except as provided in this subsection (III).
(IV) The Company hereby waives its right to have any notice of
redemption pursuant to subsection (III) of this Section 1(A) state that such
notice is subject to the receipt of the redemption moneys by the Corporate
Trustee before the date fixed for redemption. Notwithstanding the provisions of
Section 52 of the Mortgage, any such notice under such subsection shall not be
conditional.
(V) The bonds of the Seventy-ninth Series shall not be transferable
except as required to effect an assignment to a successor trustee under the Wake
Indenture or a nominee of such trustee, any such transfer to be made at the
office or agency of the Company in the Borough of Manhattan, The City of New
York.
At the option of the registered owner, any bonds of the Seventy-ninth
Series, upon surrender thereof for cancellation at the office or agency of the
Company in the Borough of Manhattan, The City of New York, are exchangeable for
a like aggregate principal amount of bonds of the same series of other
authorized denominations. The bonds of the Seventy-ninth Series may bear such
legends as may be necessary to comply with any law or with any rules or
regulations made pursuant thereto or with the rules or regulations of any stock
exchange or to conform to usage or agreement with respect thereto.
Upon any exchange or transfer of bonds of the Seventy-ninth Series, the
Company may make a charge therefor sufficient to reimburse it for any tax or
taxes or other governmental charge required to be paid by the Company, as
provided in Section 12 of the Mortgage, but the Company hereby waives any right
to make a charge in addition thereto for any exchange or transfer of bonds of
said Series.
(VI) The Company covenants and agrees that, prior to the Wake Release
Date, it will not take any action that would cause the outstanding principal
amount of the bonds of the Seventy-ninth Series to be less than the then
outstanding principal amount of the Wake 2000 Series G Bonds.
ARTICLE II
CERTAIN PROVISIONS WITH RESPECT TO FUTURE ADVANCES
SECTION 2. Upon the filing of this Seventieth Supplemental Indenture
for record in all counties in which the Mortgaged and Pledged Property is
located, and until a further indenture or indentures supplemental to the
Mortgage shall be executed and delivered by the Company to the Trustees pursuant
to authorization by the Board of Directors of the Company and filed for record
in all counties in which the Mortgaged and Pledged Property is located further
increasing or decreasing the amount of future advances which may be secured by
the Mortgage, as supplemented, the Mortgage, as supplemented, may secure future
advances and other indebtedness and sums not to exceed in the aggregate
$750,000,000, in addition to $2,513,770,000 in aggregate principal amount of
bonds to be Outstanding at the time of such filing, and all such advances and
other indebtedness and sums shall be secured by the Mortgage, as supplemented,
equally, to the same extent and with the same priority, as the amount originally
advanced on the security of the Mortgage, namely, $46,000,000, and such advances
and other indebtedness and sums may be made or become owing and may be repaid
and again made or become owing and the amount so stated shall be considered only
as the total amount of such advances and other indebtedness and sums as may be
outstanding at one time.
24
ARTICLE III
MISCELLANEOUS PROVISIONS
SECTION 3. Subject to any amendments provided for in this Seventieth
Supplemental Indenture, the terms defined in the Mortgage, as heretofore
supplemented, shall, for all purposes of this Seventieth Supplemental Indenture,
have the meanings specified in the Mortgage, as heretofore supplemented.
SECTION 4. The Trustees hereby accept the trusts herein declared,
provided, created or supplemented and agree to perform the same upon the terms
and conditions herein and in the Mortgage, as heretofore supplemented, set forth
and upon the following terms and conditions:
The Trustees shall not be responsible in any manner whatsoever
for or in respect of the validity or sufficiency of this Seventieth
Supplemental Indenture or for or in respect of the recitals contained
herein, all of which recitals are made by the Company solely. In
general each and every term and condition contained in Article XVI of
the Mortgage shall apply to and form part of this Seventieth
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 Seventieth Supplemental Indenture.
SECTION 5. Subject to the provisions of Article XV and Article XVI of
the Mortgage, whenever in this Seventieth Supplemental Indenture either of the
parties hereto is named or referred to, this shall be deemed to include the
successors or assigns of such party, and all the covenants and agreements in
this Seventieth Supplemental Indenture contained by or on behalf of the Company
or by or on behalf of the Trustees shall bind and inure to the benefit of the
respective successors and assigns of such parties whether so expressed or not.
SECTION 6. Nothing in this Seventieth 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 Outstanding bonds and coupons, any right, remedy or claim under or by
reason of this Seventieth Supplemental Indenture or any covenant, condition,
stipulation, promise or agreement hereof, and all the covenants, conditions,
stipulations, promises and agreements in this Seventieth Supplemental Indenture
contained by or on behalf of the Company shall be for the sole and exclusive
benefit of the parties hereto, and of the holders of the Outstanding bonds and
coupons.
SECTION 7. This Seventieth 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.
25
IN WITNESS WHEREOF, Carolina Power & Light Company 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 its Treasurer and its
corporate seal to be attested by its Secretary or one of its Assistant
Secretaries, and The Bank of New York has caused its corporate name to be
hereunto affixed, and this instrument to be signed and sealed by one of its Vice
Presidents or Assistant Vice Presidents, and its corporate seal to be attested
by one of its Assistant Vice Presidents or Assistant Secretaries and Xxxxxxx X.
XxxXxxxx has hereunto set his hand and affixed his seal, all as of the day and
year first above written.
CAROLINA POWER & LIGHT COMPANY
By: /s/ Xxxx X. Xxxxxxx
------------------------------------
Vice President and Treasurer
ATTEST:
/s/ Xxxxxx X. Xxxxxxxx
---------------------------------------
Xxxxxx X. Xxxxxxxx, Assistant Secretary
Executed, sealed and delivered by
CAROLINA POWER & LIGHT COMPANY
in the presence of:
/s/ Xxxxx X. Xxxxxx
---------------------------------------
Xxxxx X. Xxxxxx
/s/ Xxxxxxxxx X. Xxxxx
---------------------------------------
Xxxxxxxxx X. Xxxxx
(Trustees' Signature Page Follows)
26
Trustees' Signature Page
Seventieth Supplemental Indenture dated as of July 1, 2000,
to Mortgage and Deed of Trust dated as of May 1, 0000
XXX XXXX XX XXX XXXX, as Trustee
By: /s/ Xxxx Xxxxxx
-------------------------------
Vice President
ATTEST:
/s/ Xxxxxxx X. XxxXxxxxx
--------------------------------------
Vice President and Assistant Secretary
/s/ Xxxxxxx X. XxxXxxxx (L. S.)
-------------------------
XXXXXXX X. XXXXXXXX
Executed, sealed and delivered by
THE BANK OF NEW YORK and
XXXXXXX X. XXXXXXXX
in the presence of:
/s/ Xxxxxx Xxxxxx
--------------------------------------
Xxxxxx Xxxxxx
/s/ Xxxxxxx X. X'Xxxxx
--------------------------------------
Xxxxxxx X. X'Xxxxx
27
STATE OF NORTH CAROLINA )
) SS.:
COUNTY OF WAKE )
This 13th day of July, A.D. 2000, personally came before me, XXXXX X.
XXXXXXX, a Notary Public for Wake County, XXXX X. XXXXXXX, who, being by me duly
sworn, says that he is the Vice President and Treasurer of CAROLINA POWER &
LIGHT COMPANY, and that the seal affixed to the foregoing instrument in writing
is the corporate seal of said company, and that said writing was signed and
sealed by him in behalf of said corporation by its authority duly given. And the
said XXXX X. XXXXXXX acknowledged the said writing to be the act and deed of
said corporation.
On the 13th day of July, in the year of 2000, before me personally came
XXXX X. XXXXXXX, to me known, who, being by me duly sworn, did depose and say
that he resides at 000 Xxxx Xxxxxx Xxxxx, Xxxx, Xxxxx Xxxxxxxx 00000, State of
North Carolina; that he is the Vice President and Treasurer of CAROLINA POWER &
LIGHT COMPANY, one of the corporations described in and which executed the above
instrument; that he knows the seal of said corporation; that the seal affixed to
said instrument is such corporate seal; that it was so affixed by order of the
Board of Directors of said corporation, and that he signed his name thereto by
like order.
/s/ Xxxxx X. Xxxxxxx
--------------------------------------
XXXXX X. XXXXXXX
Notary Public, State of North Carolina
Wake County
My Commission Expires: July 7, 0000
XXXXX XX XXXXX XXXXXXXX )
) SS.:
COUNTY OF WAKE )
Personally appeared before me XXXXX X. XXXXXX, who being duly sworn,
says that she saw the corporate seal of CAROLINA POWER & LIGHT COMPANY affixed
to the above written instrument, and that she also saw XXXX X. XXXXXXX, the Vice
President and Treasurer, with XXXXXX X. XXXXXXXX, an Assistant Secretary, of
said CAROLINA POWER & LIGHT COMPANY, sign and attest the same, and that she,
deponent, with XXXXXXXXX X. XXXXX, witnessed the execution and delivery thereof
as the act and deed of said CAROLINA POWER & LIGHT COMPANY.
/s/ Xxxxx X. Xxxxxx
--------------------------------------
Xxxxx X. Xxxxxx
Sworn to before me this
13th day of July, 2000
/s/ Xxxxx X. Xxxxxxx
------------------------------------
XXXXX X. XXXXXXX
Notary Public, State of North Carolina
Wake County
My Commission Expires: July 7, 0000
00
XXXXX XX XXX XXXX )
) SS.:
COUNTY OF NEW YORK )
This 7th day of July, A.D. 2000, personally came before me, XXXXXXX X.
XXXXXXX, a Notary Public in and for the County aforesaid, XXXX XXXXXX, who,
being by me duly sworn, says that she is a Vice President of THE BANK OF NEW
YORK, and that the seal affixed to the foregoing instrument in writing is the
corporate seal of said company, and that said writing was signed and sealed by
her in behalf of said corporation by its authority duly given. And the said XXXX
XXXXXX acknowledged the said writing to be the act and deed of said corporation.
On the 7th day of July, in the year 2000, before me personally came
XXXX XXXXXX, to me known, who, being by me duly sworn, did depose and say that
she resides in Montclair, New Jersey; that she is a Vice President of THE BANK
OF NEW YORK, one of the corporations described in and which executed the above
instrument; that she knows the seal of said corporation; that the seal affixed
to said instrument is such corporate seal; that it was so affixed by order of
the Board of Directors of said corporation, and that she signed her name thereto
by like order.
I, XXXXXXX X. XXXXXXX, a Notary Public in and for the County aforesaid,
do hereby certify that XXXXXXX X. XXXXXXXX personally appeared before me this
day and acknowledged the due execution by him as successor Individual Trustee of
the foregoing instrument.
On the 7th day of July, 2000, before me personally came XXXXXXX X.
XXXXXXXX, to me known to be the person described in and who executed the
foregoing instrument and acknowledged that he, as successor Individual Trustee,
executed the same.
WITNESS my hand and official seal this 7th day of July, 2000.
/s/ Xxxxxxx X. Xxxxxxx
-----------------------------------
XXXXXXX X. XXXXXXX
Notary Pubic, State of New York
No. 01CA5027729
Qualified in Bronx County
Certificate filed in New York County
Commission Expires May 16, 2002
29
STATE OF NEW YORK )
) SS.:
COUNTY OF NEW YORK )
Personally appeared before me XXXXXX XXXXXX, who, being duly sworn,
says that she saw the corporate seal of THE BANK OF NEW YORK affixed to the
above written instrument and that she also saw XXXX XXXXXX, a Vice President,
with XXXXXXX X. XXXXXXXXX, a Vice President and Assistant Secretary, of said THE
BANK OF NEW YORK, sign and attest the same, and that she, deponent, with XXXXXXX
X. X'XXXXX, witnessed the execution and delivery thereof as the act and deed of
said THE BANK OF NEW YORK.
Personally appeared before me XXXXXX XXXXXX, who, being duly sworn,
says that she saw the within named XXXXXXX X. XXXXXXXX, as successor Individual
Trustee, sign, seal and as his act and deed deliver the foregoing instrument for
the purposes therein mentioned, and that she, deponent, with XXXXXXX X. X'XXXXX,
witnessed the execution thereof.
/s/ Xxxxxx Xxxxxx
-----------------------------
XXXXXX XXXXXX
Sworn to before me this
7th day of July, 2000
/s/ Xxxxxxx X. Xxxxxxx
----------------------------------------
XXXXXXX X. XXXXXXX
Notary Public, State of New York
No. 01CA5027729
Qualified in Bronx County
Certificate filed in New York County
Commission Expires May 16, 2002
