LEASE SUPPLEMENT NO. 4
LEASE SUPPLEMENT NO. 4, dated as of September 1, 1994, between PORTLAND
GENERAL ELECTRIC COMPANY, an Oregon corporation (herein, together with its
permitted successors and assigns, "Lessee") and FIRST INTERSTATE BANK OF OREGON,
N.A. (formerly known as First National Bank of Oregon), a national banking
association, as trustee (herein, together with its permitted successors and
assigns, "Lessor") under a Trust Agreement dated as of September 1, 1979,
between it and the Owner Participant named therein.
WHEREAS, Lessee and Lessor have heretofore entered into a Lease Agreement
dated as of September 1, 1979, as supplemented by Lease Supplement No. 1 dated
November 7, 1979, Lease Supplement No. 2 dated January 23, 1980 and Lease
Supplement No. 3 dated January 26, 1993 (herein, as heretofore supplemented in
accordance with the provisions thereof, the "Lease"). Capitalized terms not
otherwise defined herein have the meanings ascribed to them in the Lease.
NOW, THEREFORE, in consideration of the premises and other good and
sufficient consideration, and pursuant to Section 29(b) of the Lease, Lessor and
Lessee hereby agree as follows:
1. The last paragraph of Section 9(a) of the Lease is amended to read in
its entirety as follows:
"All the foregoing insurance policies shall be subject to such
deductible amounts and retentions as are usual and customary for companies
similarly situated; provided, however, that such deductible amounts and
retentions shall not exceed the following amounts specified with respect to
such policies:
(1) Fire and Extended Coverage.......................... $ 2,000,000;
(2) Public Liability ................................... $ 5,000,000;
(3) Workers' Compensation Insurance..................... $ 2,000,000;
provided further, however, that each such policy shall be in an amount
sufficient to prevent Lessor, Lessee or the Indenture Trustee from becoming
a coinsurer of any loss under such policy. Lessee agrees that all such
insurance may be maintained in effect for the term thereof by Lessor or
Indenture Trustee, at Lessee's cost and expense, if Lessee shall fail to do
so."
2. No Default has occurred or is continuing.
3. This Lease Supplement is supplemental to the Lease. As supplemented and
amended by this Lease Supplement, the Lease is in all respects ratified,
approved and confirmed, and the Lease
and this Lease Supplement shall together constitute one and the same instrument.
4. This Lease Supplement may be executed in more than one counterpart, each
of which shall be deemed original, but all such counterparts shall together
constitute but one and the same instrument.
5. Owner Trustee is entering into this Lease Supplement No. 4 in its
fiduciary capacity under the Trust Agreement and shall have no personal
liability hereunder except as expressly provided in the Lease or the Trust
Agreement.
IN WITNESS WHEREOF, Lessee and Lessor have caused this Lease Supplement to
be to be duly executed by their respective officers thereunto duly authorized.
PORTLAND GENERAL ELECTRIC COMPANY,
as Lessee,
By: /s/
----------------------------------
Title: Assistant Treasurer
FIRST INTERSTATE BANK OF OREGON, N.A.
as Owner Trustee and Lessor,
By: /s/
----------------------------------
Title: Trust Officer
By: /s/
----------------------------------
Title: Vice President
ACKNOWLEDGMENTS TO LEASE SUPPLEMENT NO. 4
STATE OF OREGON )
) ss.:
COUNTY OF MULTNOMAH, )
The foregoing instrument was acknowledged before me this 20th day of Sept.,
1994, by Xxxxxx X. Xxxxxxx, an Assistant Treasurer of Portland General Electric
Company, an Oregon corporation on behalf of the corporation.
OFFICIAL SEAL /s/ Xxxxxx X. Xxxxxxx
XXXXXX X. XXXXXXX --------------------------------
NOTARY PUBLIC-OREGON Notary Public
COMMISSION NO. A011356
MY COMMISSION EXPIRES DEC. 10, 1995 (Official Seal)
STATE OF OREGON )
) ss.:
COUNTY OF MULTNOMAH, )
The foregoing instrument was acknowledged before me this 23 day of Sept.,
1994 by X.X. Xxxxx and X. Xxxxxx, a Trust Officer and Assistant Vice President,
respectively, of First Interstate Bank of Oregon, N.A., a national banking
association, on behalf of the association.
/s/ Xxxxxx X. Xxxxxxxx
--------------------------------
Notary Public
(Official Seal)
OFFICIAL SEAL
XXXXXX X. XXXXXXX
NOTARY PUBLIC-OREGON
COMMISSION NO. 868549
MY COMMISSION EXPIRES AUG. 03, 1995
Consented:
FIRST BANK NATIONAL ASSOCIATION
DBA First Trust Oregon, as Indenture Trustee,
By:___________________________
Title: Trust Officer
WESTERN AMERICAN FINANCIAL, INC.,
as Owner Participant
By:___________________________
Title:________________________
PRINCIPAL MUTUAL LIFE INSURANCE
COMPANY, as Loan Participant
By:___________________________
Title:________________________
the Principal
Financial Principal Mutual
Group Life Insurance Company
October 4, 1994
Xx. Xxxxxxxx Xxxx
Portland General Electric
000 XX Xxxxxx Xxxxxx, 0XXX-0000
Xxxxxxxx, Xxxxxx 00000
RE Xxxxxxxx Coal Handling Equipment Lease
Dear Xx. Xxxx
Per your request, please find the enclosed signature pages for Lease Supplement
No. 4.
Sincerely
/s/ Xxxxx X. Xxxxxxx
Xxxxx X. Xxxxxxx
Investment Manager
Investment-Securities
(000) 000-0000
SAB:mlw
cc Xxxxx Xxxxx
Xxxxx Xxxxxxx
Xxxxxxx Xxxxx
Enclosure
Consented:
FIRST BANK NATIONAL ASSOCIATION
DBA First Trust Oregon, as Indenture Trustee,
By:___________________________
Title: Trust Officer
WESTERN AMERICAN FINANCIAL, INC.,
as Owner Participant
By:___________________________
Title:________________________
PRINCIPAL MUTUAL LIFE INSURANCE
COMPANY, as Loan Participant
By: /s/ Xxxxx X. Xxxxx
----------------------------------
Title: Director-Securities Investment
-------------------------------
By: /s/ Xxxxxxxxxxx X. Xxxxxxxxx
----------------------------------
Title: Counsel
-------------------------------
BA
Bank of America
October 21, 1994
Xx. Xxxxxxxx Xxxx
Portland General Electric
000 X. X. Xxxxxx XXxxxx, 0XXX-0000
Xxxxxxxx, Xxxxxx 00000
Subject: Xxxxxxxx Coal Handling Equipment Lease
Dear Xx. Xxxx:
Per your request, enclosed is the executed signature page for Lease Supplement
No. 4.
Sincerely,
WESTERN AMERICAN FINANCIAL, INC.
/s/ Xxxxx X. Xxxxx
Xxxxx X. Xxxxx
Assistant Vice President
cc: Xxxxx Xxxxxxx
Xxxxx X. Xxxxxxx
Xxxxxxx Xxxxx
Enclosure
Consented:
FIRST BANK NATIONAL ASSOCIATION
DBA First Trust Oregon, as Indenture Trustee,
By:___________________________
Title: Trust Officer
WESTERN AMERICAN FINANCIAL, INC.,
as Owner Participant
By: /s/
----------------------------
Title: Assistant Vice President
------------------------
By: /s/
----------------------------
Title: Assistant Vice President
------------------------
PRINCIPAL MUTUAL LIFE INSURANCE
COMPANY, as Loan Participant
By:___________________________
Title:________________________
First Trust Oregon
0000 X.X. Xxxxxxxx
Xxxxx 0000
Xxxxxxxx, XX 00000
October 17, 1994
Xx. Xxxxxxxx Xxxx
Portland General Electric
000 X.X. Xxxxxx Xxxxxx, 1WTC-0403
Xxxxxxxx, Xxxxxx 00000
RE Xxxxxxxx Coal Handling Equipment Lease
Dear Xx. Xxxx:
Per your request, please find the enclosed signature page for Lease Supplement
No. 4.
Sincerely,
/s/ Xxxxx X. Xxxxxxx
Xxxxx X. Xxxxxxx, CCTS
Trust Officer
cc Xxxxx X. Xxxxxxx
Xxxxxx Xxxxx
Xxxxx Xxxxx
Enclosure
Consented:
FIRST BANK NATIONAL ASSOCIATION
DBA First Trust Oregon, as Indenture Trustee,
By: /s/
---------------------------
Title: Trust Officer
WESTERN AMERICAN FINANCIAL, INC.,
as Owner Participant
By:___________________________
Title:________________________
PRINCIPAL MUTUAL LIFE INSURANCE
COMPANY, as Loan Participant
By:___________________________
Title:________________________
