UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): June 18, 2008
         
Commission File   Exact name of registrant as specified in its charter, state of incorporation,   I.R.S. Employer
Number   address of principal executive offices, and telephone number   Identification Number
         
1-3274   FLORIDA POWER CORPORATION   59-0247770
    d/b/a PROGRESS ENERGY FLORIDA, INC.    
    299 First Avenue North
St. Petersburg, Florida 33701
Telephone: (727) 820-5151
State of Incorporation: Florida
   
None
 
(Former Name or Former Address, if Changed Since Last Report)
     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
      o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
      o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
      o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
      o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 


 

ITEM 8.01. OTHER EVENTS
     (a) UNDERWRITING AGREEMENT. The Registrant has entered into an Underwriting Agreement, dated June 11, 2008, by and among the Registrant and Barclays Capital Inc., Citigroup Global Markets Inc. and Greenwich Capital Markets, Inc., as representatives of the several underwriters, in connection with the offering of $500,000,000 aggregate principal amount of the Registrant’s First Mortgage Bonds, 5.65% Series due 2018 and $1,000,000,000 aggregate principal amount of the Registrant’s First Mortgage Bonds, 6.40% Series due 2038, registered with the Securities and Exchange Commission on Form S-3 (Reg. No. 333-148040). A copy of the Underwriting Agreement is filed herewith as Exhibit 1.
     (b) FORTY-EIGHTH SUPPLEMENTAL INDENTURE. The Registrant has entered into a Forty-Eighth Supplemental Indenture, dated as of June 1, 2008, to its Indenture, dated January 1, 1944, as supplemented, (the “Mortgage”), with The Bank of New York, as successor Trustee, in connection with the issuance of the Registrant’s First Mortgage Bonds in two series: (i) 5.65% Series due 2018 and (ii) 6.40% Series due 2038. A copy of the Forty-Eighth Supplemental Indenture to the Mortgage is filed herewith as Exhibit 4.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
     
Exhibit No.   Description
 
   
1
  Underwriting Agreement, dated June 11, 2008, by and among the Registrant and Barclays Capital Inc., Citigroup Global Markets Inc. and Greenwich Capital Markets, Inc., as representatives of the several underwriters.
 
   
4
  Forty-Eighth Supplemental Indenture, dated as of June 1, 2008, to the Registrant’s Indenture, dated January 1, 1944, as supplemented, with The Bank of New York, as successor Trustee.
 
   
5
  Opinion of Hunton & Williams LLP as to legality of the Securities issued by the Registrant
 
   
23
  Consent of Hunton & Williams LLP to the filing of Exhibit 5 herewith (included in its opinion filed as Exhibit 5)

 


 

SIGNATURES
     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
 
  FLORIDA POWER CORPORATION d/b/a
PROGRESS ENERGY FLORIDA, INC.
 
       
 
  Registrant
 
       
 
  By:   /s/ Peter M. Scott
 
       
 
      Peter M. Scott III
Executive Vice President and
Chief Financial Officer
Date: June 18, 2008
       

 

FLORIDA POWER CORPORATION
d/b/a PROGRESS ENERGY FLORIDA, INC.
First Mortgage Bonds
5.65% Series due 2018
6.40% Series due 2038
UNDERWRITING AGREEMENT
June 11, 2008
To the Representative named in Schedule II hereto
of the Underwriters named in Schedule II hereto
Dear Ladies and Gentlemen:
     The undersigned Florida Power Corporation d/b/a Progress Energy Florida, Inc. (the “Company”) hereby confirms its agreement with each of the several Underwriters hereinafter named as follows:
     1.  Underwriters and Representative . The term “Underwriters” as used in this Underwriting Agreement (the “Agreement”) shall be deemed to mean the firm or the several firms named in Schedule II hereto and any underwriter substituted as provided in paragraph 6, and the term “Underwriter” shall be deemed to mean any one of such Underwriters.
     If the firm or firms listed as Representatives in Schedule II hereto (individually and collectively, the “Representative”) are the only firm or firms serving as underwriters, then the terms “Underwriters” and “Representative,” as used herein, shall each be deemed to refer to such firm or firms. Each Representative represents jointly and severally that they have been authorized by the Underwriters to execute this Agreement on their behalf and to act for them in the manner herein provided. All obligations of the Underwriters hereunder are several and not joint. If more than one firm is named as Representative in Schedule II hereto, any action under or in respect of this Agreement may be taken by such firms jointly as the Representative, or by one of the firms acting on behalf of the Representative, and such action will be binding upon all the Underwriters.
     2.  Description of Securities . The Company proposes to issue and sell its First Mortgage Bonds of the designation, with the terms and in the amount specified in Schedule II hereto (the “Securities”) under its Indenture, dated as of January 1, 1944, with The Bank of New York, as successor trustee (the “Trustee”), as supplemented by the Seventh, Eighth, Sixteenth, Twenty-Ninth, Thirty-Eighth and the Fortieth through the Forty-Seventh Supplemental Indentures, and as it will be further supplemented by the Forty-Eighth Supplemental Indenture (the “Forty-Eighth Supplemental Indenture”) relating to the Securities, in substantially the form heretofore delivered to the Representative, said Indenture as supplemented by the Seventh, Eighth, Sixteenth, Twenty-Ninth, Thirty-Eighth and the Fortieth through the Forty-Seventh Supplemental Indentures, and to be supplemented by the Forty-Eighth Supplemental Indenture being hereinafter referred to as the “Mortgage.”

 


 

     3.  Representations and Warranties of the Company . The Company represents and warrants to each of the Underwriters that:
     (a) The Company has filed with the Securities and Exchange Commission (the “Commission”) a registration statement on Form S-3, as amended (No. 333-148040) (the “New Registration Statement”), under the Securities Act of 1933, as amended (the “Securities Act”), for the registration of up to an aggregate of $4,000,000,000 principal amount of First Mortgage Bonds, Debt Securities and Preferred Stock in unallocated amounts. The New Registration Statement also constituted Post-Effective Amendment No. 1 to a Registration Statement on Form S-3 (No. 333-126967) (the “Post-Effective Amendment” and together with the New Registration Statement, the “Registration Statement”) under the Securities Act relating to an aggregate of $250,000,000 principal amount of the Company’s securities, which had been previously registered under the Securities Act but remained unsold at the time the Post-Effective Amendment became effective. The Registration Statement contained a combined prospectus for the sale of $4,250,000,000 of the Company’s First Mortgage Bonds, Debt Securities and Preferred Stock (collectively, the “Registered Securities”) in unallocated amounts. The Registration Statement was declared effective by the Commission on January 8, 2008. As of the date hereof, the Company has not sold any Registered Securities. The term “Registration Statement” shall be deemed to include all amendments prior to the Applicable Time (defined below) and all documents incorporated by reference therein (the “Incorporated Documents”). The base prospectus filed as part of the Registration Statement, in the form in which it has most recently been filed with the Commission prior to the date of this Agreement, is hereinafter called the “Basic Prospectus.” The Basic Prospectus included in the Registration Statement, as supplemented by a preliminary prospectus supplement, dated June 11, 2008, relating to the Securities, and all prior amendments or supplements thereto (other than amendments or supplements relating to the Registered Securities other than the Securities), including the Incorporated Documents, is hereinafter referred to as the “Preliminary Prospectus.” The Preliminary Prospectus, as amended and supplemented, including the Incorporated Documents, at or immediately prior to the Applicable Time (as defined below) is hereinafter called the “Pricing Prospectus.” The Basic Prospectus included in the Registration Statement, as it is to be supplemented by a prospectus supplement, dated on the date hereof, substantially in the form delivered to the Representative prior to the execution hereof, relating to the Securities (the “Prospectus Supplement”) and all prior amendments or supplements thereto (other than amendments or supplements relating to securities of the Company other than the Securities), including the Incorporated Documents, is hereinafter referred to as the “Prospectus.” Any reference herein to the terms “amend,” “amendment” or “supplement” with respect to the Registration Statement or the Prospectus shall be deemed to refer to and include any post-effective amendment to the Registration Statement, any prospectus supplement relating to the Securities filed with the Commission pursuant to Rule 424(b) under the Securities Act and the filing of any document under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), deemed to be incorporated therein after the date hereof and prior to the termination of the offering of the Securities by the Underwriters; and any references herein to the terms “Registration Statement” or “Prospectus” at a date after the filing of the Prospectus

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Supplement shall be deemed to refer to the Registration Statement or the Prospectus, as the case may be, as each may be amended or supplemented prior to such date.
     For purposes of this Agreement, the “Applicable Time” is 2:45 PM (New York City time) on the date of this Agreement; the information and documents listed in Schedule III hereto, taken together, as of the Applicable Time are collectively referred to as the “Pricing Disclosure Package;” and all references to the Registration Statement, the Pricing Disclosure Package or the Prospectus or any amendment or supplement thereto shall be deemed to include the copy filed with the Commission pursuant to its Electronic Data Gathering, Analysis and Retrieval system (“EDGAR”).
     (b) The Registration Statement, at each time and date it became, or is deemed to have become, effective, complied, and the Registration Statement, the Prospectus and the Mortgage, as of the date hereof and at the Closing Date, will comply, in all material respects, with the applicable provisions of the Securities Act and the Trust Indenture Act of 1939, as amended (the “1939 Act”), and the applicable instructions, rules and regulations of the Commission thereunder; the Registration Statement, at each time and date it became, or is deemed to have become, effective, did not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading; the Pricing Disclosure Package as of the Applicable Time did not contain an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; and the Prospectus, as of its date and at the Closing Date, will not contain an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however, that the foregoing representations and warranties in this subparagraph (b) shall not apply to statements or omissions made in reliance upon and in conformity with information furnished herein or in writing to the Company by the Representative or by or on behalf of any Underwriter through the Representative expressly for use in the Prospectus or to any statements in or omissions from the Statement of Eligibility (“Form T-1”) of the Trustee. The Incorporated Documents, at the time they were each filed with the Commission, complied in all material respects with the applicable requirements of the Exchange Act and the instructions, rules and regulations of the Commission thereunder, and any documents so filed and incorporated by reference subsequent to the date hereof and prior to the termination of the offering of the Securities by the Underwriters will, at the time they are each filed with the Commission, comply in all material respects with the requirements of the Exchange Act and the instructions, rules and regulations of the Commission thereunder; and, when read together with the Registration Statement, the Pricing Disclosure Package and the Prospectus, none of such documents included or includes or will include any untrue statement of a material fact or omitted or omits or will omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. Each Permitted Free Writing Prospectus listed on Schedule III hereto does not conflict in any material respect with the information contained in the Registration Statement, the Pricing Disclosure Package or the Prospectus.

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     (c) The Company has been incorporated, is validly existing as a corporation and its status is active under the laws of the State of Florida; has corporate power and authority to own, lease and operate its properties and to conduct its business as contemplated under this Agreement and the other agreements to which it is a party; and is duly qualified as a foreign corporation to transact business and is in good standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure to so qualify would not have a material adverse effect on the business, properties, results of operations or financial condition of the Company.
     (d) The historical financial statements incorporated by reference in the Registration Statement, the Pricing Prospectus and the Prospectus present fairly the financial condition and operations of the Company at the respective dates or for the respective periods to which they apply; such financial statements have been prepared in each case in accordance with generally accepted accounting principles consistently applied throughout the periods involved, except that the quarterly financial statements, if any, incorporated by reference from any Quarterly Reports on Form 10-Q contain condensed footnotes prepared in accordance with applicable Exchange Act rules and regulations; and Deloitte & Touche LLP, which has audited the financial statements is an independent registered public accounting firm as required by the Securities Act or the Exchange Act and the rules and regulations of the Commission thereunder.
     (e) Except as reflected in, or contemplated by, the Registration Statement and the Pricing Disclosure Package, since the respective dates as of which information is given in the Registration Statement and the Pricing Prospectus, and prior to the Closing Date, (i) there has not been any material adverse change in the business, properties, results of operations or financial condition of the Company, (ii) there has not been any material transaction entered into by the Company other than transactions contemplated by the Registration Statement and the Pricing Prospectus or transactions arising in the ordinary course of business and (iii) the Company has no material contingent obligation that is not disclosed in the Pricing Disclosure Package and the Prospectus that could likely result in a material adverse change in the business, properties, results of operations or financial condition of the Company.
     (f) The Company has full power and authority to execute, deliver and perform its obligations under this Agreement. The execution and delivery of this Agreement, the consummation of the transactions herein contemplated and the fulfillment of the terms hereof on the part of the Company to be fulfilled have been duly authorized by all necessary corporate action of the Company in accordance with the provisions of its articles of incorporation, as amended (the “Charter”), by-laws and applicable law.
     (g) The consummation of the transactions herein contemplated and the fulfillment of the terms hereof will not (i) result in a breach of any of the terms or provisions of, or constitute a default under, the Charter or the Company’s by-laws or (ii) result in a breach of any terms or provisions of, or constitute a default under, any applicable law or any indenture, mortgage, deed of trust or other material agreement or instrument to which the Company is now a party or any judgment, order, writ or decree

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of any government or governmental authority or agency or court having jurisdiction over the Company or any of its assets, properties or operations that, in the case of any such breach or default, would have a material adverse effect on the business, properties, results of operations or financial condition of the Company.
     (h) The Securities conform in all material respects to the description contained in the Pricing Disclosure Package and the Prospectus.
     (i) The Company has no subsidiaries that meet the definition of “significant subsidiary” as defined in Section 210.1-02(w) of Regulation S-X promulgated under the Securities Act.
     (j) The Mortgage (A) has been duly authorized, executed and delivered by the Company, and, assuming due authorization, execution and delivery of the Forty-Eighth Supplemental Indenture by the Trustee, constitutes a valid and legally binding obligation of the Company, enforceable against the Company in accordance with its terms, subject to (i) applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer or similar laws affecting creditors’ rights generally and (ii) general principles of equity and any implied covenant of good faith and fair dealing (regardless of whether such enforceability is considered in a proceeding at law or in equity and except for the effect on enforceability of federal or state law limiting, delaying or prohibiting the making of payments outside the United States); provided, however, that certain remedies, waivers and other provisions of the Mortgage may not be enforceable, but such unenforceability will not render the Mortgage invalid as a whole or affect the judicial enforcement of (x) the obligation of the Company to repay the principal, together with the interest thereon as provided in the Securities or (y) the right of the Trustee to exercise its right to foreclose under the Mortgage; and (B) conforms in all material respects to the description thereof in the Pricing Disclosure Package and the Prospectus. The Mortgage (including the Forty-Eighth Supplemental Indenture upon due execution by the Company and the Trustee in accordance with the Mortgage) has been qualified under the 1939 Act.
     (k) The Securities have been duly authorized by the Company and, when authenticated in the manner provided for in the Indenture and delivered against payment of the required consideration therefor, will constitute valid and legally binding obligations of the Company, entitled to the benefits of the Mortgage enforceable against the Company in accordance with its terms, subject to (i) applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer or similar laws affecting creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding at law or in equity and except for the effect on enforceability of federal or state law limiting, delaying or prohibiting the making of payments outside the United States).
     (l) The Company is not an “investment company” within the meaning of the Investment Company Act of 1940, as amended (the “1940 Act”).
     (m) Except as described in or contemplated by the Pricing Disclosure Package and the Prospectus, there are no pending actions, suits or proceedings (regulatory or

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otherwise) against or affecting the Company or its properties that are likely in the aggregate to result in any material adverse change in the business, properties, results of operations or financial condition of the Company, or that are likely in the aggregate to materially and adversely affect the Mortgage, the Securities or the consummation of this Agreement or the transactions contemplated herein or therein.
     (n) No filing with, or authorization, approval, consent, license, order, registration, qualification or decree of, any court or governmental authority or agency is necessary or required for the performance by the Company of its obligations hereunder in connection with the offering, issuance or sale of the Securities hereunder or the consummation of the transactions herein contemplated or for the due execution, delivery or performance of the Mortgage by the Company, except such as have already been made or obtained or as may be required under the Securities Act or state securities laws and except for the qualification of the Forty-Eighth Supplemental Indenture under the 1939 Act.
     4.  Purchase and Sale; Manner of Sale .
     (a) On the basis of the representations, warranties and covenants herein contained, but subject to the terms and conditions herein set forth, the Company agrees to sell to each of the Underwriters, severally and not jointly, and each such Underwriter agrees, severally and not jointly, to purchase from the Company, the respective principal amount of Securities of each series set forth opposite the name of such Underwriter in Schedule II hereto at the purchase price set forth in Schedule II hereto.
     (b) The Underwriters agree to make promptly a bona fide public offering of the Securities to the public for sale as set forth in the Pricing Disclosure Package, subject, however, to the terms and conditions of this Agreement. The Underwriters agree that the information that has been presented to investors at or prior to the execution of this Agreement is consistent in all material respects with the information that is contained in the Pricing Disclosure Package.
     5.  Free Writing Prospectuses .
     (a) The Company represents and agrees that, without the prior consent of the Representative, it has not made and will not make any offer relating to the Securities that would constitute a “free writing prospectus” as defined in Rule 405 under the Act, other than a Permitted Free Writing Prospectus; each Underwriter represents and agrees that, without the prior consent of the Company and the Representative, it has not made and will not make any offer relating to the Securities that would constitute a “free writing prospectus,” as defined in Rule 405 under the Act, other than a Permitted Free Writing Prospectus or a free writing prospectus that is not required to be filed by the Company pursuant to Rule 433 under the Securities Act. Any such free writing prospectus the use of which is consented to by the Company and the Representative is referred to herein as a “Permitted Free Writing Prospectus.” The only Permitted Free Writing Prospectus as of the time of this Agreement is the final term sheet referred to in paragraph 5(b) below.

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     (b) The Company agrees to file a final term sheet, in the form of Schedule I hereto and approved by the Representative pursuant to Rule 433(d) under the Securities Act within the time period prescribed by such Rule.
     (c) The Company and the Underwriters have complied and will comply with the requirements of Rule 164 and Rule 433 under the Securities Act applicable to any free writing prospectus, including timely Commission filing where required and legending.
     (d) The Company agrees that if at any time following issuance of a Permitted Free Writing Prospectus any event occurred or occurs as a result of which such Permitted Free Writing Prospectus would conflict in any material respect with the information in the Registration Statement, the Pricing Prospectus or the Prospectus or include an untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in light of the circumstances then prevailing, not misleading, the Company will give prompt notice thereof to the Representative and, if requested by the Representative, will prepare and furnish without charge to each Underwriter a Permitted Free Writing Prospectus or other document which will correct such conflict, statement or omission; provided, however, that this representation and warranty shall not apply to any statements or omissions in a Permitted Free Writing Prospectus made in reliance upon and in conformity with information furnished in writing to the Company by an Underwriter through the Representative, expressly for use therein.
     6.  Time and Place of Closing; Default of Underwriters.
     (a) Payment for the Securities shall be made at the direction of the Company against delivery of the Securities at the office of The Bank of New York, Corporate Trust Department, 101 Barclay Street, Suite 8W, New York, New York 10286, or such other place, time and date as the Representative and the Company may agree. Such delivery and payment shall occur at or about 11:00 A.M. on June 18, 2008, and is herein called the “Closing Date.” Payment for the Securities shall be by wire transfer of immediately available funds against delivery to The Depository Trust Company or to The Bank of New York, as custodian for The Depository Trust Company, in fully registered global form registered in the name of CEDE & Co., as nominee for The Depository Trust Company, for the respective accounts specified by the Representative not later than the close of business on the business day prior to the Closing Date or such other date and time not later than the Closing Date as agreed by The Depository Trust Company or The Bank of New York. For the purpose of expediting the checking of the certificates by the Representative, the Company agrees to make the Securities available to the Representative not later than 10:00 A.M. New York City time, on the last full business day prior to the Closing Date at said office of The Bank of New York.
     (b) If one or more Underwriters shall, for any reason other than a reason permitted hereunder, fail to take up and pay for the principal amount of the Securities of any series to be purchased by such one or more Underwriters, the Company shall immediately notify the Representative, and the non-defaulting Underwriters shall be obligated to take up and pay for (in addition to the respective principal amount of the

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Securities of such series set forth opposite their respective names in Schedule II hereto) the principal amount of such series of Securities that such defaulting Underwriter or Underwriters failed to take up and pay for, up to a principal amount thereof equal to, in the case of each such remaining Underwriter, 10% of the principal amount of the Securities of such series. Each non-defaulting Underwriter shall do so on a pro-rata basis according to the amounts set forth opposite the name of such non-defaulting Underwriter in Schedule II hereto, and such non-defaulting Underwriters shall have the right, within 24 hours of receipt of such notice, either to take up and pay for (in such proportion as may be agreed upon among them), or to substitute another Underwriter or Underwriters, satisfactory to the Company, to take up and pay for the remaining principal amount of the Securities that the defaulting Underwriter or Underwriters agreed but failed to purchase. If any unpurchased Securities still remain, then the Company or the Representative shall be entitled to an additional period of 24 hours within which to procure another party or parties, members of the Financial Industry Regulatory Authority, Inc. (the “Authority”) (or if not members of the Authority, who are not eligible for membership in the Authority and who agree (i) to make no sales within the United States, its territories or its possessions or to persons who are citizens thereof or residents therein and (ii) in making sales to comply with the Authority’s Conduct Rules) and satisfactory to the Company, to purchase or agree to purchase such unpurchased Securities on the terms herein set forth. In any such case, either the Representative or the Company shall have the right to postpone the Closing Date for a period not to exceed three full business days from the date agreed upon in accordance with this paragraph 6, in order that the necessary changes in the Registration Statement and Prospectus and any other documents and arrangements may be effected. If (i) neither the non-defaulting Underwriters nor the Company has arranged for the purchase of such unpurchased Securities by another party or parties as above provided and (ii) the Company and the non-defaulting Underwriters have not mutually agreed to offer and sell the Securities other than the unpurchased Securities, then this Agreement shall terminate without any liability on the part of the Company or any Underwriter (other than an Underwriter that shall have failed or refused, in accordance with the terms hereof, to purchase and pay for the principal amount of the Securities that such Underwriter has agreed to purchase as provided in paragraph 4 hereof), except as otherwise provided in paragraph 7 and paragraph 8 hereof.
     7.  Covenants of the Company . The Company covenants with each Underwriter that:
     (a) As soon as reasonably possible after the execution and delivery of this Agreement, the Company will file the Prospectus with the Commission pursuant to Rule 424 under the Securities Act (“Rule 424”), setting forth, among other things, the necessary information with respect to the terms of offering of the Securities and make any other required filings pursuant to Rule 433 under the Securities Act. Upon request, the Company will promptly deliver to the Representative and to counsel for the Underwriters, to the extent not previously delivered, one fully executed copy or one conformed copy, certified by an officer of the Company, of the Registration Statement, as originally filed, and of all amendments thereto, if any, heretofore or hereafter made (other than those relating solely to Registered Securities other than the Securities), including any post-effective amendment (in each case including all exhibits filed therewith and all documents incorporated therein not previously furnished to the Representative), including

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signed copies of each consent and certificate included therein or filed as an exhibit thereto, and will deliver to the Representative for distribution to the Underwriters as many conformed copies of the foregoing (excluding the exhibits, but including all documents incorporated therein) as the Representative may reasonably request. The Company will also send to the Underwriters as soon as practicable after the date of this Agreement and thereafter from time to time as many copies of the Prospectus and the Preliminary Prospectus as the Representative may reasonably request for the purposes required by the Securities Act.
     (b) During such period (not exceeding nine months) after the commencement of the offering of the Securities as the Underwriters may be required by law to deliver a Prospectus (or in lieu thereof, the notice referred to in Rule 173(a) under the Securities Act), if any event relating to or affecting the Company, or of which the Company shall be advised in writing by the Representative shall occur, which in the Company’s reasonable opinion (after consultation with counsel for the Representative) should be set forth in a supplement to or an amendment of the Prospectus in order to make the Prospectus not misleading in the light of the circumstances when it is delivered to a purchaser (or in lieu thereof, the notice referred to in Rule 173(a) under the Securities Act), or if it is necessary to amend the Prospectus to comply with the Securities Act, the Company will forthwith at its expense prepare, file with the Commission and furnish to the Underwriters and dealers named by the Representative a reasonable number of copies of a supplement or supplements or an amendment or amendments to the Prospectus that will supplement or amend the Prospectus so that as supplemented or amended it will comply with the Securities Act and will not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances when the Prospectus is delivered to a purchaser, not misleading. In case any Underwriter is required to deliver a Prospectus (or in lieu thereof, the notice referred to in Rule 173(a) under the Securities Act) after the expiration of nine months after the commencement of the offering of the Securities, the Company, upon the request of the Representative, will furnish to the Representative, at the expense of such Underwriter, a reasonable quantity of a supplemented or amended prospectus, or supplements or amendments to the Prospectus, complying with Section 10(a) of the Securities Act.
     (c) The Company will make generally available to its security holders, as soon as reasonably practicable, but in any event not later than 16 months after the end of the fiscal quarter in which the filing of the Prospectus pursuant to Rule 424 occurs, an earnings statement (in form complying with the provisions of Section 11(a) of the Securities Act, which need not be certified by independent public accountants) covering a period of twelve months beginning not later than the first day of the Company’s fiscal quarter next following the filing of the Prospectus pursuant to Rule 424.
     (d) The Company will use commercially reasonable efforts promptly to do and perform all things to be done and performed by it hereunder prior to the Closing Date and to satisfy all conditions precedent to the delivery by it of the Securities.
     (e) As soon as reasonably possible after the Closing Date, the Company will cause the Forty-Eighth Supplemental Indenture to be recorded (i) in all recording offices

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in the State of Florida in which the property intended to be subject to the lien of the Mortgage is located and (ii) with the Surface Transportation Board.
     (f) The Company will advise the Representative, or the Representative’s counsel, promptly of the filing of the Prospectus pursuant to Rule 424 and of any amendment or supplement to the Prospectus or Registration Statement or of official notice of institution of proceedings for, or the entry of, a stop order suspending the effectiveness of the Registration Statement and, if such a stop order should be entered, use commercially reasonable efforts to obtain the prompt removal thereof.
     (g) The Company will use commercially reasonable efforts to qualify the Securities, as may be required, for offer and sale under the Blue Sky or legal investment laws of such jurisdictions as the Representative may designate and will file and make in each year such statements or reports as are or may be reasonably required by the laws of such jurisdictions; provided , however , that the Company shall not be required to qualify as a foreign corporation or dealer in securities, or to file any general consents to service of process, under the laws of any jurisdiction.
     (h) Prior to the termination of the offering of the Securities, the Company will not file any amendment to the Registration Statement or supplement to the Pricing Prospectus or the Prospectus which shall not have previously been furnished to the Representative or of which the Representative shall not previously have been advised or to which the Representative shall reasonably object in writing and which has not been approved by the Underwriter(s) or their counsel acting on behalf of the Underwriters.
     8.  Payment of Expenses . The Company will pay all expenses incident to the performance of its obligations under this Agreement, including (i) the printing and filing of the Registration Statement and the printing of this Agreement, (ii) the delivery of the Securities to the Underwriters, (iii) the fees and disbursements of the Company’s counsel and accountants, (iv) the expenses in connection with the qualification of the Securities under securities laws in accordance with the provisions of paragraph 7 ( g ) hereof, including filing fees and the fees and disbursements of counsel for the Underwriters in connection therewith, such fees and disbursements not to exceed $7,500, (v) the printing and delivery to the Underwriters of copies of the Registration Statement and all amendments thereto, the Preliminary Prospectus, any Permitted Free Writing Prospectus and the Prospectus and any amendments or supplements thereto, (vi) the printing and delivery to the Underwriters of copies of the Blue Sky Survey and (vii) the preparation, execution, filing and recording by the Company of the Forty-Eighth Supplemental Indenture (such filing and recordation to be promptly made after execution and delivery thereof to the Trustee under the Mortgage in the counties in which the mortgaged property of the Company is located); and the Company will pay all taxes, if any (but not including any transfer taxes), on the issue of the Securities and the filing and recordation of the Forty-Eighth Supplemental Indenture. The fees and disbursements of Underwriters’ counsel shall be paid by the Underwriters (subject, however, to the provisions of this paragraph 8 requiring payment by the Company of fees and disbursements not to exceed $7,500); provided , however , that if this Agreement is terminated in accordance with the provisions of paragraph 9, 10 or 12 hereof, the Company shall reimburse the Representative for the account of the Underwriters for the fees and disbursements of Underwriters’ counsel. The Company shall not

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be required to pay any amount for any expenses of the Representative or of any other of the Underwriters except as provided in paragraph 7 hereof and in this paragraph 8. The Company shall not in any event be liable to any of the Underwriters for damages on account of the loss of anticipated profit.
     9.  Conditions of Underwriters’ Obligations . The several obligations of the Underwriters to purchase and pay for the Securities shall be subject to the accuracy of the representations and warranties on the part of the Company as of the date hereof and the Closing Date, to the performance by the Company of its obligations to be performed hereunder prior to the Closing Date, and to the following further conditions:
     (a) No stop order suspending the effectiveness of the Registration Statement shall be in effect on the Closing Date and no proceedings for that purpose shall be pending before, or, to the Company’s knowledge, threatened by, the Commission on the Closing Date. The Representative shall have received, prior to payment for the Securities, a certificate dated the Closing Date and signed by the Chairman, President, Treasurer or a Vice President of the Company to the effect that no such stop order is in effect and that no proceedings for such purpose are pending before or, to the knowledge of the Company, threatened by the Commission.
     (b) At the time of execution of this Agreement, or such later date as shall have been consented to by the Representative, there shall have been issued, and on the Closing Date there shall be in full force and effect, an order of the Florida Public Service Commission authorizing the issuance and sale of the Securities, which shall not contain any provision unacceptable to the Representative by reason of its being materially adverse to the Company (it being understood that no such order in effect on the date of this Agreement and heretofore furnished to the Representative or counsel for the Underwriters contains any such unacceptable provision).
     (c) At the Closing Date, the Representative shall receive favorable opinions, and with respect to clauses (vii) and (viii), assurance statements, from: (1) Hunton & Williams LLP, counsel to the Company, which opinion shall be satisfactory in form and substance to counsel for the Underwriters, and (2) Dewey & LeBoeuf LLP, counsel for the Underwriters, in each of which opinions (except as to subdivisions (v) and (vi) (as to documents incorporated by reference, at the time they were filed with the Commission) as to which Dewey & LeBoeuf LLP need express no opinion) said counsel may rely as to all matters of Florida law upon the opinion of R. Alexander Glenn, General Counsel of the Company, to the effect that:
     (i) The Mortgage has been duly and validly authorized by all necessary corporate action (with this opinion required in the Hunton & Williams LLP and Dewey & LeBoeuf LLP opinions only as to the original Indenture dated as of January 1, 1944 and the supplemental indentures subsequent to, but not including, the Thirty-Eighth Supplemental Indenture), has been duly and validly executed and delivered by the Company (with this opinion required in the Hunton & Williams LLP and Dewey & LeBoeuf LLP opinions only as to the Forty -Eighth Supplemental Indenture), and is a valid and binding mortgage of the

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Company enforceable in accordance with its terms, except as limited by bankruptcy, insolvency or other laws affecting mortgagees’ and other creditors’ rights and general equitable principles and any implied covenant of good faith and fair dealing (with this opinion required in the Hunton & Williams LLP and Dewey & LeBoeuf LLP opinions only as to the original Indenture dated as of January 1, 1944 and the supplemental indentures subsequent to, but not including, the Thirty-Eighth Supplemental Indenture); provided , however , that certain remedies, waivers and other provisions of the Mortgage may not be enforceable, but such unenforceability will not render the Mortgage invalid as a whole or affect the judicial enforcement of (A) the obligation of the Company to repay the principal, together with the interest thereon as provided in the Securities or (B) the right of the Trustee to exercise its right to foreclose under the Mortgage;
     (ii) The Mortgage has been duly qualified under the 1939 Act;
     (iii) Assuming authentication of the Securities by the Trustee in accordance with the Mortgage and delivery of the Securities to and payment for the Securities by the Underwriters, as provided in this Agreement, the Securities have been duly and validly authorized, executed and delivered and are legal, valid and binding obligations of the Company enforceable in accordance with their terms, except as limited by bankruptcy, insolvency or other laws affecting mortgagees’ and other creditors’ rights and general equitable principles and any implied covenant of good faith and fair dealings, and are entitled to the benefits of the security afforded by the Mortgage, and are secured equally and ratably with all other bonds outstanding under the Mortgage except insofar as any sinking or other fund may afford additional security for the bonds of any particular series;
     (iv) The statements made in the Basic Prospectus under the caption “Description of First Mortgage Bonds” and in the Pricing Prospectus under the caption “Description of Bonds,” insofar as they purport to constitute summaries of the documents referred to therein, are accurate summaries in all material respects;
     (v) The statements made in the Pricing Prospectus and the Prospectus under the caption “Material U.S. Federal Tax Considerations,” insofar as they purport to constitute summaries of matters of U.S. federal income tax law or legal conclusions with respect thereto, are accurate and complete in all material respects;
     (vi) This Agreement has been duly and validly authorized, executed and delivered by the Company;
     (vii) The Registration Statement, at each time and date it was declared, or is deemed to have become, effective by the Commission, and the Pricing Disclosure Package and the Prospectus, as of their respective dates (except as to the financial statements and schedules and notes thereto or other financial, numerical, accounting, statistical or quantitative information (or the assumptions with respect thereto) included or incorporated by reference therein or excluded

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therefrom and that part of the Registration Statement that constitutes the Statement of Eligibility on Form T-1 upon which such opinions need not pass), appeared on their face to respond in all material respects to the requirements of the Securities Act and the 1939 Act and the applicable instructions, rules and regulations of the Commission thereunder; and the documents or portions thereof filed with the Commission pursuant to the Exchange Act and deemed to be incorporated by reference in the Registration Statement, the Preliminary Prospectus, the Pricing Prospectus and the Prospectus pursuant to Item 12 of Form S-3 (except as to financial statements and schedules and notes thereto or other financial, numerical, accounting, statistical or quantitative information (or the assumptions with respect thereto) included or incorporated by reference therein or excluded therefrom and that part of the Registration Statement that constitutes the Statement of Eligibility on Form T-1 upon which such opinions need not pass), at the time they were filed with the Commission, appeared on their fact to respond in all material respects to the requirements of the Exchange Act and the applicable instructions, rules and regulations of the Commission thereunder; the Registration Statement has become effective under the Securities Act and, such counsel has been verbally advised by the staff of the Commission that no stop order suspending the effectiveness of the Registration Statement has been issued and not withdrawn, and no proceedings for a stop order with respect thereto have been instituted by the Commission; and
     (viii) Nothing has come to the attention of said counsel that would lead them to believe that the Registration Statement, at each time and date it was declared, or is deemed to have become, effective by the Commission, contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein not misleading; and nothing has come to the attention of said counsel that would lead them to believe that (x) the Pricing Disclosure Package, as of the Applicable Time, included an untrue statement of a material fact or omitted to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading or (y) the Prospectus, as of its date and, as amended or supplemented, at the Closing Date, included or includes an untrue statement of a material fact or omitted or omits to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading (except as to financial statements, schedules and notes thereto or other financial, numerical, accounting, statistical or quantitative information (or the assumptions with respect thereto) included or incorporated by reference therein or excluded therefrom and that part of the Registration Statement that constitutes the Statement of Eligibility on Form T-1 upon which such opinions need not pass).
     (d) At the Closing Date, the Representative shall receive from R. Alexander Glenn, General Counsel of the Company, a favorable opinion in form and substance satisfactory to counsel for the Underwriters, to the same effect with respect to the matters enumerated in subdivisions (i), (iii), (vi) and (viii) of subparagraph (c) of this paragraph 9 as the opinions required by said subparagraph (c), and to the further effect that:

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     (i) The Company has been incorporated, is validly existing as a corporation and its status is active under the laws of the State of Florida;
     (ii) The Company is duly authorized by its Charter to conduct the business that it is now conducting as set forth in the Pricing Disclosure Package and the Prospectus;
     (iii) The Company is an electrical utility engaged in the business of generating, transmitting, distributing and selling electric power to the general public in the State of Florida;
     (iv) The Company has valid and subsisting franchises, licenses and permits adequate for the conduct of its business, except where the failure to hold such franchises, licenses and permits would not have a material adverse effect on the business, properties, results of operations or financial condition of the Company;
     (v) The Company has good and marketable title, with minor exceptions, restrictions and reservations in conveyances, and defects that are of the nature ordinarily found in properties of similar character and magnitude and that, in his opinion, will not in any substantial way impair the security afforded by the Mortgage, to all the properties described in the granting clauses of the Mortgage and upon which the Mortgage purports to create a lien. The description in the Mortgage of the above-mentioned properties is legally sufficient to constitute the Mortgage a lien upon said properties, including without limitation properties hereafter acquired by the Company (other than those expressly excepted and reserved therefrom). Said properties constitute substantially all the permanent physical properties and franchises (other than those expressly excepted and reserved therefrom) of the Company and are held by the Company free and clear of all liens and encumbrances except the lien of the Mortgage and excepted encumbrances, as defined in the Mortgage. The properties of the Company are subject to liens for current taxes, which it is the practice of the Company to pay regularly as and when due. The Company has easements for rights-of-way adequate for the operations and maintenance of its transmission and distribution lines that are not constructed upon public highways. The Company has followed the practice generally of acquiring (i) certain rights-of-way and easements and certain small parcels of fee property appurtenant thereto and for use in conjunction therewith and (ii) certain other properties of small or inconsequential value, without an examination of title and, as to the title to lands affected by said rights-of-way and easements, of not examining the title of the lessor or grantor whenever the lands affected by such rights-of-way and easements are not of such substantial value as in the opinion of the Company to justify the expense attendant upon examination of titles in connection therewith. In the opinion of said counsel, such practice of the Company is consistent with sound economic practice and with the method followed by other companies engaged in the same business and is reasonably adequate to assure the Company of good and marketable title to all such property acquired by it. It is the opinion of said counsel that any such

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conditions or defects as may be covered by the above recited exceptions are not substantial and would not materially interfere with the Company’s use of such properties or with its business operations. The Company has the right of eminent domain in the State of Florida under which it may, if necessary, perfect or obtain title to privately owned land or acquire easements or rights-of-way required for use or used by the Company in its public utility operations;
     (vi) The Mortgage has been recorded and filed in such manner and in such places as may be required by law in order fully to preserve and protect, in all material respects, the security of the bondholders and all rights of the Trustee thereunder; and the Forty-Eighth Supplemental Indenture relating to the Securities is in proper form for filing for record, both as a real estate mortgage and as a security interest, in all counties in the State of Florida in which any of the property (except as any therein or in the Mortgage are expressly excepted) described therein or in the Mortgage as subject to the lien of the Mortgage is located and, as a security interest, with the Surface Transportation Board and, upon such recording, the Forty-Eighth Supplemental Indenture will constitute adequate record notice to perfect the lien of the Mortgage, and preserve and protect, in all material respects, the security of the bondholders and all rights of the Trustee, as to all mortgaged and pledged property acquired by the Company subsequent to the recording of the Forty-Seventh Supplemental Indenture and prior to the recording of the Forty-Eighth Supplemental Indenture;
     (vii) The Mortgage constitutes a valid, direct and first mortgage lien of record upon all franchises and properties now owned by the Company (other than those expressly excepted therefrom and other than those franchises and properties which are not, individually or in the aggregate, material to the Company or the security afforded by the Mortgage) situated in the State of Florida, as described or referred to in the granting clauses of the Mortgage, subject to the exceptions as to bankruptcy, insolvency and other laws stated in subdivision (i) of subparagraph (c) above;
     (viii) The issuance and sale of the Securities have been duly authorized by all necessary corporate action on the part of the Company;
     (ix) An order has been entered by the Florida Public Service Commission authorizing the issuance and sale of the Securities, and, to the best of the knowledge of said counsel, said order is still in force and effect; and no further filing with, approval, authorization, consent or other order of any public board or body (except such as have been obtained under the Securities Act and as may be required under the state securities or Blue Sky laws of any jurisdiction) is legally required for the consummation of the transactions contemplated in this Agreement;
     (x) Except as described in or contemplated by the Pricing Disclosure Package and the Prospectus, there are no pending actions, suits or proceedings (regulatory or otherwise) against the Company or any properties that are likely, in

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the aggregate, to result in any material adverse change in the business, properties, results of operations or financial condition of the Company or that are likely, in the aggregate, to materially and adversely affect the Mortgage, the Securities or the consummation of this Agreement, or the transactions contemplated herein or therein; and
     (xi) The consummation of the transactions herein contemplated and the fulfillment of the terms hereof will not (i) result in a breach of any of the terms or provisions of, or constitute a default under, the Charter or the Company’s by-laws or (ii) result in a breach of any terms or provisions of, or constitute a default under, any applicable law or any indenture, mortgage, deed of trust or other material agreement or instrument to which the Company is now a party or any judgment, order, writ or decree of any government or governmental authority or agency or court having jurisdiction over the Company or any of its assets, properties or operations that, in the case of any such breach or default, would have a material adverse effect on business, properties, results of operations or financial condition of the Company.
     (e) The Representative shall have received on the date hereof and shall receive on the Closing Date from Deloitte & Touche LLP, a letter addressed to the Representative, on behalf of the Underwriters, containing statements and information of the type ordinarily included in accountants’ SAS 72 “comfort letters” to underwriters with respect to the audit reports, financial statements and certain financial information contained in or incorporated by reference into the Pricing Prospectus and the Prospectus.
     (f) At the Closing Date, the Representative shall receive a certificate of the Chairman, President, Treasurer or a Vice President of the Company, dated the Closing Date, to the effect that the representations and warranties of the Company in this Agreement are true and correct as of the Closing Date.
     (g) Any Permitted Free Writing Prospectus, and any other material required pursuant to Rule 433(d) under the Securities Act, shall have been filed by the Company with the Commission within the applicable time periods prescribed by Rule 433.
     (h) All legal proceedings taken in connection with the sale and delivery of the Securities shall have been satisfactory in form and substance to counsel for the Underwriters, and the Company, as of the Closing Date, shall be in compliance with any governing order of the Florida Public Service Commission, except where the failure to comply with such order would not be material to the offering or validity of the Securities.
     In case any of the conditions specified above in this paragraph 9 shall not have been fulfilled or waived by 2:00 P.M. on the Closing Date, this Agreement may be terminated by the Representative by delivering written notice thereof to the Company. Any such termination shall be without liability of any party to any other party except as otherwise provided in paragraphs 7 and 8 hereof.

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     10.  Conditions of the Company’s Obligations . The obligations of the Company to deliver the Securities shall be subject to the following conditions:
     (a) No stop order suspending the effectiveness of the Registration Statement shall be in effect on the Closing Date, and no proceedings for that purpose shall be pending before or threatened by the Commission on the Closing Date.
     (b) Prior to 12:00 Noon, New York time, on the day following the date of this Agreement, or such later date as shall have been consented to by the Company, there shall have been issued and on the Closing Date there shall be in full force and effect an order of the Florida Public Service Commission authorizing the issuance and sale by the Company of the Securities, which shall not contain any provision unacceptable to the Company by reason of its being materially adverse to the Company (it being understood that the order in effect as of the date of this Agreement does not contain any such unacceptable provision).
     In case any of the conditions specified in this paragraph 10 shall not have been fulfilled at the Closing Date, this Agreement may be terminated by the Company by delivering written notice thereof to the Representative. Any such termination shall be without liability of any party to any other party except as otherwise provided in paragraphs 7 and 8 hereof.
     11.  Indemnification .
     (a) The Company agrees to indemnify and hold harmless each Underwriter, each officer and director of each Underwriter and each person who controls any Underwriter within the meaning of Section 15 of the Securities Act against any and all losses, claims, damages or liabilities, joint or several, to which they or any of them may become subject and to reimburse each such Underwriter, each such officer and director, and each such controlling person for any legal or other expenses (including to the extent hereinafter provided, reasonable counsel fees) incurred by them, when and as incurred, in connection with investigating any such losses, claims, damages or liabilities or in connection with defending any actions, insofar as such losses, claims, damages, liabilities, expenses or actions arise out of or are based upon any untrue statement, or alleged untrue statement, of a material fact contained in the Registration Statement, the Pricing Disclosure Package or the Prospectus, or in the Registration Statement or Prospectus as amended or supplemented (if any amendments or supplements thereto shall have been furnished), or in any free writing prospectus used by the Company, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading; provided, however, that the indemnity agreement contained in this paragraph 11 shall not apply to any such losses, claims, damages, liabilities, expenses or actions arising out of or based upon any such untrue statement or alleged untrue statement, or any such omission or alleged omission, if such statement or omission was made in reliance upon and in conformity with information furnished herein or in writing to the Company by any Underwriter through the Representative expressly for use in the Registration Statement, the Pricing Disclosure Package or the Prospectus, or any amendment or supplement to any thereof, or any free writing prospectus used by the Company, or arising out of, or based upon, statements in

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or omissions from that part of the Registration Statement that shall constitute the Statement of Eligibility under the 1939 Act (Form T-1) of the Trustee. The indemnity agreement of the Company contained in this paragraph 11 and the representations and warranties of the Company contained in paragraph 3 hereof shall remain operative and in full force and effect regardless of any investigation made by or on behalf of any Underwriter, and such officer or director or any such controlling person and shall survive the delivery of the Securities. The Underwriters agree to notify promptly the Company, and each other Underwriter, of the commencement of any litigation or proceedings against them or any of them, or any such officer or director, or any such controlling person, in connection with the sale of the Securities.
     (b) Each Underwriter severally, and not jointly, agrees to indemnify and hold harmless the Company, its officers who signed the Registration Statement and its directors, and each person who controls the Company within the meaning of Section 15 of the Securities Act, against any and all losses, claims, damages or liabilities, joint or several, to which they or any of them may become subject and to reimburse each of them for any legal or other expenses (including, to the extent hereinafter provided, reasonable counsel fees) incurred by them, when and as incurred, in connection with investigating any such losses, claims, damages, or liabilities, or in connection with defending any actions, insofar as such losses, claims, damages, liabilities, expenses or actions arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, the Pricing Disclosure Package, the Prospectus as amended or supplemented (if any amendments or supplements thereto shall have been furnished), or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if such statement or omission was made in reliance upon and in conformity with information furnished herein or in writing to the Company by such Underwriter or through the Representative on behalf of such Underwriter expressly for use in the Registration Statement or the Pricing Disclosure Package or any amendment or supplement to any thereof. The indemnity agreement of all the respective Underwriters contained in this paragraph 11 shall remain operative and in full force and effect regardless of any investigation made by or on behalf of the Company or any other Underwriter, or any such officer or director or any such controlling person, and shall survive the delivery of the Securities. The Company agrees promptly to notify the Representative of the commencement of any litigation or proceedings against the Company or any of its officers or directors, or any such controlling person, in connection with the sale of the Securities.
     (c) The Company and each of the Underwriters agree that, upon the receipt of notice of the commencement of any action against it, its officers or directors, or any person controlling it as aforesaid, in respect of which indemnity may be sought on account of any indemnity agreement contained herein, it will promptly give written notice of the commencement thereof to the party or parties against whom indemnity shall be sought hereunder. The Company and each of the Underwriters agree that the notification required by the preceding sentence shall be a material term of this Agreement. The omission so to notify such indemnifying party or parties of any such action shall relieve such indemnifying party or parties from any liability that it or they

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may have to the indemnified party on account of any indemnity agreement contained herein if such indemnifying party was materially prejudiced by such omission, but shall not relieve such indemnifying party or parties from any liability that it or they may have to the indemnified party otherwise than on account of such indemnity agreement. In case such notice of any such action shall be so given, such indemnifying party shall be entitled to participate at its own expense in the defense or, if it so elects, to assume (in conjunction with any other indemnifying parties) the defense of such action, in which event such defense shall be conducted by counsel chosen by such indemnifying party (or parties) and satisfactory to the indemnified party or parties who shall be defendant or defendants in such action, and such defendant or defendants shall bear the fees and expenses of any additional counsel retained by them; but if the indemnifying party shall elect not to assume the defense of such action, such indemnifying parties will reimburse such indemnified party or parties for the reasonable fees and expenses of any counsel retained by them, as such expenses are incurred; provided , however , if the defendants (including any impleaded parties) in any such action include both the indemnified party and the indemnifying party, and counsel for the indemnified party shall have concluded, in its reasonable judgment, that there may be a conflict of interest involved in the representation by such counsel of both the indemnifying party and the indemnified party, the indemnified party or parties shall have the right to select separate counsel, satisfactory to the indemnifying party, to participate in the defense of such action on behalf of such indemnified party or parties (it being understood, however, that the indemnifying party shall not be liable for the expenses of more than one separate counsel (in addition to one local counsel) representing the indemnified parties who are parties to such action). Each of the Company and the several Underwriters agrees that without the other party’s prior written consent, which consent shall not be unreasonably withheld, it will not settle, compromise or consent to the entry of any judgment in any claim in respect of which indemnification may be sought under the indemnification provisions of this Agreement, unless such settlement, compromise or consent includes an unconditional release of such other party from all liability arising out of such claim.
     (d) If the indemnification provided for in subparagraphs (a) or (b) above is for any reason unavailable to or insufficient to hold harmless an indemnified party in respect of any losses, liabilities, claims, damages or expenses referred to therein, then each indemnifying party shall contribute to the aggregate amount of such losses, liabilities, claims, damages and expenses incurred by such indemnified party, as incurred, (i) in such proportion as is appropriate to reflect the relative benefits received by the Company, on the one hand, and the Underwriters, on the other hand, from the offering of the Securities pursuant to this Agreement or (ii) if the allocation provided by clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company, on the one hand, and of the Underwriters, on the other hand, in connection with the statements or omissions that resulted in such losses, liabilities, claims, damages or expenses, as well as any other relevant equitable considerations. The relative benefits received by the Company, on the one hand, and the Underwriters, on the other hand, in connection with the offering of the Securities pursuant to this Agreement shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Securities pursuant to this Agreement (before deducting expenses) received by the Company and

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the total underwriting discount received by the Underwriters, in each case as set forth on the cover of the Prospectus, bear to the aggregate initial public offering price of the Securities as set forth on such cover. The relative fault of the Company, on the one hand, and the Underwriters, on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by the Company or by the Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the Underwriters agree that it would not be just and equitable if contribution pursuant to this subparagraph (d) were determined by pro rata allocation (even if the Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to above in this subparagraph (d). The rights of contribution contained in this Section 11 shall remain operative and in full force and effect regardless of any investigation made by or on behalf of any Underwriter of the Company and shall survive delivery of the Securities. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this subparagraph (d), each officer and director of each Underwriter and each person, if any, who controls an Underwriter within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act shall have the same rights to contribution as such Underwriter, and each director of the Company, each officer of the Company who signed the Registration Statement, and each person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act shall have the same rights to contribution as the Company. The Underwriters’ respective obligations to contribute pursuant to this subparagraph (d) are several in proportion to the principal amount of Securities set forth opposite their respective names in Schedule II hereto and not joint.
     (e) For purposes of this paragraph 11, it is understood and agreed that the only information provided by the Underwriters expressly for use in the Registration Statement and the Pricing Disclosure Package (other than information separately provided by Lazard Capital Markets LLC) were the following parts of the Preliminary Prospectus section titled “Underwriting”: the second, third and fourth sentences of the second paragraph, the third sentence of the third paragraph and all of the fourth paragraph.
     12.  Termination Date of this Agreement . This Agreement may be terminated by the Representative at any time prior to the Closing Date by delivering written notice thereof to the Company, if on or after the date of this Agreement but prior to such time (a) there shall have occurred any general suspension of trading in securities on The New York Stock Exchange, or there shall have been established by The New York Stock Exchange or by the Commission or by any federal or state agency or by the decision of any court, any limitation on prices for such trading or any restrictions on the distribution of securities or (b) there shall have occurred any new outbreak of hostilities including, but not limited to, significant escalation of hostilities that existed prior to the date of this Agreement, or any national or international calamity or crisis, or any material adverse change in the financial markets of the United States, the effect of which outbreak, escalation, calamity or crisis, or material adverse change on the financial markets of

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the United States shall be such as to make it impracticable, in the reasonable judgment of the Representative, for the Underwriters to enforce contracts for the sale of the Securities, or (c) the Company shall have sustained a substantial loss by fire, flood, accident or other calamity that renders it impracticable, in the reasonable judgment of the Representative, to consummate the sale of the Securities and the delivery of the Securities by the several Underwriters at the initial public offering price, or (d) there shall have been any downgrading or any notice of any intended or potential downgrading in the rating accorded the Company’s securities by any “nationally recognized statistical rating organization” as that term is defined by the Commission for the purposes of Securities Act Rule 436(g)(2), or any such organization shall have publicly announced that it has under surveillance or review, with possible negative implications, its rating of the Securities, or any of the Company’s other outstanding debt, the effect of which in the reasonable judgment of the Representative, makes it impracticable or inadvisable to consummate the sale of the Securities and the delivery of the Securities by the several Underwriters at the initial public offering price or (e) there shall have been declared, by either federal or New York authorities, a general banking moratorium. This Agreement may also be terminated at any time prior to the Closing Date if in the reasonable judgment of the Representative the subject matter of any amendment or supplement to the Registration Statement, the Preliminary Prospectus or Prospectus (other than an amendment or supplement relating solely to the activity of any Underwriter or Underwriters) filed after the execution of this Agreement shall have materially impaired the marketability of the Securities. Any termination hereof pursuant to this paragraph 12 shall be without liability of any party to any other party except as otherwise provided in paragraphs 7 and 8.
     13.  Miscellaneous . The validity and interpretation of this Agreement shall be governed by the laws of the State of New York. Unless otherwise specified, time of day refers to New York City time. This Agreement shall inure to the benefit of, and be binding upon, the Company, the several Underwriters, and with respect to the provisions of paragraph 11 hereof, the officers and directors and each controlling person referred to in paragraph 11 hereof, and their respective successors. Nothing in this Agreement is intended or shall be construed to give to any other person, firm or corporation any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision herein contained. The term “successors” as used in this Agreement shall not include any purchaser, as such purchaser, of any of the Securities from any of the several Underwriters.
     14.  Nature of Relationship . The Company acknowledges and agrees that (i) in connection with all aspects of each transaction contemplated by this Agreement, the Company and the Underwriters have an arms length business relationship that creates no fiduciary duty on the part of any party and each expressly disclaims any fiduciary relationship, (ii) the Underwriters and their respective affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Company, (iii) the Underwriters have not provided any legal, accounting, regulatory or tax advice with respect to the offering contemplated hereby and the Company has consulted its own legal, accounting, regulatory and tax advisors to the extent it deemed appropriate, and (iv) any review by the Underwriters of the Company, the transactions contemplated hereby or other matters relating to such transactions will be performed solely for the benefit of the Underwriters and shall not be on behalf of the Company.

21


 

     15.  Notices . All communications hereunder shall be in writing or by telefax and, if to the Underwriters, shall be mailed, transmitted by any standard form of telecommunication or delivered to the Representatives at Barclays Capital Inc., 200 Park Avenue, New York, New York 10166, Attention: Fixed Income Syndicate, Citigroup Global Markets Inc., 388 Greenwich Street, New York, New York 10013, Attention: General Counsel and Greenwich Capital Markets, Inc., 600 Steamboat Road, Greenwich, Connecticut 06830, Attention: Debt Capital Markets Syndicate and if to the Company, shall be mailed or delivered to it at 410 South Wilmington Street, Raleigh, North Carolina 27601, Attention: Thomas R. Sullivan, Vice President and Treasurer.
     16.  Counterparts . This Agreement may be simultaneously executed in counterparts, each of which when so executed shall be deemed to be an original. Such counterparts shall together constitute one and the same instrument.
     17.  Defined Terms . Unless otherwise defined herein, capitalized terms used in this Underwriting Agreement shall have the meanings assigned to them in the Registration Statement.
[The remainder of this page has been intentionally left blank.]

22


 

     If the foregoing is in accordance with your understanding of our agreement, kindly sign and return to the Company the enclosed duplicate hereof whereupon it will become a binding agreement between the Company and the several Underwriters in accordance with its terms.
         
  Very truly yours,


FLORIDA POWER CORPORATION
d/b/a PROGRESS ENERGY FLORIDA, INC.

 
 
  By:   /s/ Thomas R. Sullivan   
    Authorized Representative   
       
 
Accepted as of the date first
above written, as Underwriter
named in, and as the Representative
of the other Underwriters named in,
Schedule II attached to this Agreement.
         
BARCLAYS CAPITAL INC.
 
   
By:   /s/ Pamela Kendall     
  Authorized Representative     
       
 
CITIGROUP GLOBAL MARKETS INC.
 
   
By:   /s/ Brian D. Bednarski     
  Authorized Representative     
       
 
GREENWICH CAPITAL MARKETS, INC.
 
   
By:   /s/ Jennifer Powers     
  Authorized Representative     
       
 
[Signature Page of PEF First Mortgage Bond Underwriting Agreement]

23


 

SCHEDULE I
Free Writing Prospectus Dated June 11, 2008
Registration Statement No. 333-148040
Filed Pursuant to Rule 433 of the Securities Act of 1933
FINAL TERM SHEET
     
Issuer:
  Florida Power Corporation d/b/a Progress Energy Florida, Inc.
 
   
Supplemental Indenture:
  Forty-Eighth, dated as of June 1, 2008
 
   
Format:
  SEC Registered
 
   
Trade Date:
  June 11, 2008
 
   
Settlement Date:
  June 18, 2008
 
   
Joint Book-Running Managers:
  Barclays Capital Inc.
 
  Citigroup Global Markets Inc.
 
  Greenwich Capital Markets, Inc.
 
   
Co-Managers:
  Lazard Capital Markets LLC
 
  Morgan Stanley & Co. Incorporated
 
  SunTrust Robinson Humphrey, Inc.
 
  Banc of America Securities LLC
 
  Deutsche Bank Securities Inc.
 
  Goldman, Sachs & Co.
 
  BNY Mellon Capital Markets, LLC
 
  UBS Securities LLC
 
  BB&T Capital Markets, a division of Scott & Stringfellow, Inc.
 
   
2018 Bonds
   
Security:
  First Mortgage Bonds, 5.65% Series due 2018
 
   
Expected Ratings:
  A2 (Moody’s); A- (S&P); A+ (Fitch)
 
   
Principal Amount:
  $500,000,000
 
   
Date of Maturity:
  June 15, 2018
 
   
Coupon:
  5.650%
 
   
Interest Payment Dates:
  Payable semi-annually in arrears on June 15 and December 15, commencing December 15, 2008
 
   
Public Offering Price:
  99.639% of the principal amount thereof, plus no accrued interest to the date of payment and delivery.
 
   
Benchmark Treasury:
  3.875% UST due on May 15, 2018
 
   
Benchmark Treasury Yield:
  4.068%
 
   
Spread to Benchmark Treasury:
  163 basis points
 
   
Re-offer Yield:
  5.698%
 
   
Redemption Terms:
  Optional — redeemable prior to maturity, in whole or in part, at the option of the Company at a
 
  make-whole redemption price (as defined and described in further detail in the Prospectus
 
  Supplement) using applicable treasury rate plus 25 basis points.

24


 

     
 
  Special — redeemable prior to maturity, in whole but not in part, upon the occurrence of specific events, at the option of the Company at a make-whole redemption price (as defined and described in further detail in the Prospectus Supplement).
 
   
2038 Bonds
   
Security:
  First Mortgage Bonds, 6.40% Series due 2038
 
   
Expected Ratings:
  A2 (Moody’s); A- (S&P); A+ (Fitch)
 
   
Principal Amount:
  $1,000,000,000
 
   
Date of Maturity:
  June 15, 2038
 
   
Coupon:
  6.400%
 
   
Interest Payment Dates:
  Payable semi-annually in arrears on June 15 and December 15, commencing December 15, 2008
 
   
Public Offering Price:
  99.578% of the principal amount thereof, plus no accrued interest to the date of payment and delivery.
 
   
Benchmark Treasury:
  5.00% UST due on May 15, 2037
 
   
Benchmark Treasury Yield:
  4.682%
 
   
Spread to Benchmark Treasury:
  175 basis points
 
   
Re-offer Yield:
  6.432%
 
   
Redemption Terms:
  Optional — redeemable prior to maturity, in whole or in part, at the option of the Company at a make-whole redemption price (as defined and described in further detail in the Prospectus Supplement) using applicable treasury rate plus 30 basis points.
 
   
 
  Special — redeemable prior to maturity, in whole but not in part, upon the occurrence of specific events, at the option of the Company at a make-whole redemption price (as defined and described in further detail in the Prospectus Supplement).
Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov (and more specifically, at the URL link http://sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000037637&owner=include ) . Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Barclays Capital Inc. toll-free at 1-888-227-2275, Ext. 2663, Citigroup Global Markets Inc. toll-free at 1-877-858-5407, or Greenwich Capital Markets, Inc. toll-free at 1-866-884-2071.

25


 

SCHEDULE II
                 
Underwriter   Principal Amount of Securities  
    2018 Bonds     2038 Bonds  
Barclays Capital Inc.
  $ 110,000,000     $ 220,000,000  
Citigroup Global Markets Inc.
  $ 110,000,000     $ 220,000,000  
Greenwich Capital Markets, Inc.
  $ 110,000,000     $ 220,000,000  
Lazard Capital Markets LLC
  $ 25,000,000     $ 50,000,000  
Morgan Stanley & Co. Incorporated
  $ 25,000,000     $ 50,000,000  
SunTrust Robinson Humphrey, Inc.
  $ 25,000,000     $ 50,000,000  
Banc of America Securities LLC
  $ 20,000,000     $ 40,000,000  
Deutsche Bank Securities Inc.
  $ 20,000,000     $ 40,000,000  
Goldman, Sachs & Co.
  $ 20,000,000     $ 40,000,000  
BNY Mellon Capital Markets, LLC
  $ 15,000,000     $ 30,000,000  
UBS Securities LLC
  $ 15,000,000     $ 30,000,000  
BB&T Capital Markets, a division of Scott & Stringfellow, Inc.
  $ 5,000,000     $ 10,000,000  
 
           
Total
  $ 500,000,000     $ 1,000,000,000  
 
           
     
Representatives:
  Barclays Capital Inc.
 
  Citigroup Global Markets Inc.
 
  Greenwich Capital Markets, Inc.
 
   
2018 Bond Purchase Price:
  98.989% of the principal amount thereof, plus no accrued interest to the date of payment and delivery.
 
   
2038 Bond Purchase Price:
  98.703% of the principal amount thereof, plus no accrued interest to the date of payment and delivery.

26


 

SCHEDULE III
PRICING DISCLOSURE PACKAGE
1)   Preliminary Prospectus Supplement dated June11, 2008 (which shall be deemed to include the Incorporated Documents)
 
2)   Permitted Free Writing Prospectuses
                a)  Final Term Sheet attached as Schedule I hereto

27

This instrument was prepared
under the supervision of:
R. Alexander Glenn, General Counsel
Florida Power Corporation
d/b/a Progress Energy Florida, Inc.
299 First Avenue North
St. Petersburg, Florida 33701


 
 
FLORIDA POWER CORPORATION
d/b/a PROGRESS ENERGY FLORIDA, INC.
TO
THE BANK OF NEW YORK, TRUSTEE
 
FORTY-EIGHTH
SUPPLEMENTAL INDENTURE
Dated as of June 1, 2008
 
This is a security agreement covering personal property as
well as a mortgage upon real estate and other property.
SUPPLEMENT TO INDENTURE
DATED AS OF JANUARY 1, 1944, AS SUPPLEMENTED
 
 
NOTE TO RECORDER:   Nonrecurring Intangible Taxes and Documentary Stamp Taxes have been collected by the Pinellas County Circuit Court Clerk. With respect to the Nonrecurring Intangible Taxes due, the Intangible Tax Base was calculated in compliance with Subsections (1) and (2) of Section 199.133 of the Florida Statutes and is $447,600.

 


 

TABLE OF CONTENTS*
         
    PAGE  
 
Recitals
    3  
Granting Language
    7  
Article I—The New Series Bonds
    9  
A. Creation of First Mortgage Bonds, 5.65% Series due 2018
    9  
B. Creation of First Mortgage Bonds, 6.40% Series due 2038
    14  
C. Form of The New Series Bonds
    19  
D. Interest on the New Series Bonds
    25  
Article II—Additional Covenants
    26  
Article III—Sundry Provisions
    27  
 
       
EXHIBITS:
       
 
       
Exhibit A —Recording Information
    A-1  
Exhibit B —Property Descriptions
    B-1  
 
*   The headings listed in this Table of Contents are for convenience only and should not be included for substantive purposes as part of this Supplemental Indenture.

2


 

RECITALS
      SUPPLEMENTAL INDENTURE , dated as of the 1st day of June 2008, made and entered into by and between FLORIDA POWER CORPORATION d/b/a PROGRESS ENERGY FLORIDA, INC. , a corporation of the State of Florida (hereinafter sometimes called the “Company”), party of the first part, and THE BANK OF NEW YORK, a New York banking corporation, whose post office address is 101 Barclay Street, New York, New York, 10286, (hereinafter sometimes called the “Trustee”), as Trustee, party of the second part.
WHEREAS , the Company has heretofore executed and delivered an indenture of mortgage and deed of trust, titled the Indenture, dated as of January 1, 1944, and the same has been recorded in the public records and on the dates listed on Exhibit A hereto, and for the purpose of preventing the extinguishment of said Indenture under Chapter 712, Florida Statutes, the above-referred-to Indenture applicable to each county in which this instrument is recorded is hereby incorporated herein and made a part hereof by this reference thereto (said Indenture is hereinafter referred to as the “Original Indenture” and with the below-mentioned forty-seven Supplemental Indentures and this Supplemental Indenture and all other indentures, if any, supplemental to the Original Indenture collectively referred to as the “Indenture”), in and by which the Company conveyed and mortgaged to the Trustee certain property therein described to secure the payment of all bonds of the Company to be issued thereunder in one or more series; and
WHEREAS , pursuant to and under the terms of the Original Indenture, the Company issued $16,500,000 First Mortgage Bonds, 3 3/8% Series due 1974; and
WHEREAS , subsequent to the date of the execution and delivery of the Original Indenture, the Company has from time to time executed and delivered forty-seven indentures supplemental to the Original Indenture (collectively, the “Supplemental Indentures”), providing for the creation of additional series of bonds secured by the Original Indenture and/or for amendment of certain terms and provisions of the Original Indenture and of indentures supplemental thereto, such Supplemental Indentures, and the purposes thereof, being as follows:
     
Supplemental Indenture    
and Date   Providing for:
First
July 1, 1946
  $4,000,000 First Mortgage Bonds, 2 7/8% Series due 1974
Second
November 1, 1948
  $8,500,000 First Mortgage Bonds, 3 1/4% Series due 1978
Third
July 1, 1951
  $14,000,000 First Mortgage Bonds, 3 3/8% Series due 1981
Fourth
November 1, 1952
  $15,000,000 First Mortgage Bonds, 3 3/8% Series due 1982
Fifth
November 1, 1953
  $10,000,000 First Mortgage Bonds, 3 5/8% Series due 1983
Sixth
July 1, 1954
  $12,000,000 First Mortgage Bonds, 3 1/8% Series due 1984

3


 

     
Supplemental Indenture    
and Date   Providing for:
Seventh
July 1, 1956
  $20,000,000 First Mortgage Bonds, 3 7/8% Series due 1986, and amendment of certain provisions of the Original Indenture
Eighth
July 1, 1958
  $25,000,000 First Mortgage Bonds, 4 1/8% Series due 1988, and amendment of certain provisions of the Original Indenture
Ninth
October 1, 1960
  $25,000,000 First Mortgage Bonds, 4 3/4% Series due 1990
Tenth
May 1, 1962
  $25,000,000 First Mortgage Bonds, 4 1/4% Series due 1992
Eleventh
April 1, 1965
  $30,000,000 First Mortgage Bonds, 4 5/8% Series due 1995
Twelfth
November 1, 1965
  $25,000,000 First Mortgage Bonds, 4 7/8% Series due 1995
Thirteenth
August 1, 1967
  $25,000,000 First Mortgage Bonds, 6 1/8% Series due 1997
Fourteenth
November 1, 1968
  $30,000,000 First Mortgage Bonds, 7% Series due 1998
Fifteenth
August 1, 1969
  $35,000,000 First Mortgage Bonds, 7 7/8% Series due 1999
Sixteenth
February 1, 1970
  Amendment of certain provisions of the Original Indenture
Seventeenth
November 1, 1970
  $40,000,000 First Mortgage Bonds, 9% Series due 2000
Eighteenth
October 1, 1971
  $50,000,000 First Mortgage Bonds, 7 3/4% Series due 2001
Nineteenth
June 1, 1972
  $50,000,000 First Mortgage Bonds, 7 3/8% Series due 2002
Twentieth
November 1, 1972
  $50,000,000 First Mortgage Bonds, 7 1/4% Series A due 2002
Twenty-First
June 1, 1973
  $60,000,000 First Mortgage Bonds, 7 3/4% Series due 2003
Twenty-Second
December 1, 1973
  $70,000,000 First Mortgage Bonds, 8% Series A due 2003
Twenty-Third
October 1, 1976
  $80,000,000 First Mortgage Bonds, 8 3/4% Series due 2006
Twenty-Fourth
April 1, 1979
  $40,000,000 First Mortgage Bonds, 6 3/4-6 7/8% Series due 2004-2009
Twenty-Fifth
April 1, 1980
  $100,000,000 First Mortgage Bonds, 13 5/8% Series due 1987
Twenty-Sixth
November 1, 1980
  $100,000,000 First Mortgage Bonds, 13.30% Series A due 1990
Twenty-Seventh
November 15, 1980
  $38,000,000 First Mortgage Bonds, 10-10 1/4% Series due 2000-2010

4


 

     
Supplemental Indenture    
and Date   Providing for:
Twenty-Eighth
May 1, 1981
  $50,000,000 First Mortgage Bonds, 9 1/4% Series A due 1984
Twenty-Ninth
September 1, 1982
  Amendment of certain provisions of the Original Indenture
Thirtieth
October 1, 1982
  $100,000,000 First Mortgage Bonds, 13 1/8% Series due 2012
Thirty-First
November 1, 1991
  $150,000,000 First Mortgage Bonds, 8 5/8% Series due 2021
Thirty-Second
December 1, 1992
  $150,000,000 First Mortgage Bonds, 8% Series due 2022
Thirty-Third
December 1, 1992
  $75,000,000 First Mortgage Bonds, 6 1/2% Series due 1999
Thirty-Fourth
February 1, 1993
  $80,000,000 First Mortgage Bonds, 6-7/8% Series due 2008
Thirty-Fifth
March 1, 1993
  $70,000,000 First Mortgage Bonds, 6-1/8% Series due 2003
Thirty-Sixth
July 1, 1993
  $110,000,000 First Mortgage Bonds, 6% Series due 2003
Thirty-Seventh
December 1, 1993
  $100,000,000 First Mortgage Bonds, 7% Series due 2023
Thirty-Eighth
July 25, 1994
  Appointment of First Chicago Trust Company of New York as successor Trustee and resignation of former Trustee and Co-Trustee
Thirty-Ninth
July 1, 2001
  $300,000,000 First Mortgage Bonds, 6.650% Series due 2011
Fortieth
July 1, 2002
  $240,865,000 First Mortgage Bonds in three series as follows: (i) $108,550,000 Pollution Control Series 2002A Bonds due 2027; (ii) $100,115,000 Pollution Control Series 2002B Bonds due 2022; and (iii) $32,200,000 Pollution Control Series 2002C Bonds due 2018; and reservation of amendment of certain provisions of the Original Indenture
Forty-First
February 1, 2003
  $650,000,000 First Mortgage Bonds in two series as follows: (i) $425,000,000 4.80% Series due 2013 and (ii) $225,000,000 5.90% Series due 2033; and reservation of amendment of certain provisions of the Original Indenture
Forty-Second
April 1, 2003
  Amendment of certain provisions of the Original Indenture; appointment of Bank One, N.A. as successor Trustee and resignation of former Trustee; and reservation of amendment of certain provisions of the Original Indenture

5


 

     
Supplemental Indenture    
and Date   Providing for:
Forty-Third
November 1, 2003
  $300,000,000 First Mortgage Bonds, 5.10% Series due 2015; and reservation of amendment of certain provisions of the Original Indenture
Forty-Fourth
August 1, 2004
  Amendment of certain provisions of the Original Indenture
Forty-Fifth
May 1, 2005
  $300,000,000 First Mortgage Bonds, 4.50% Series due 2010
Forty-Sixth
September 1, 2007
  $750,000,000 First Mortgage Bonds in two series as follows: (i) $250,000,000 5.80% Series due 2017 and (ii) $500,000,000 6.35% Series due 2037
Forty-Seventh
December 1, 2007
  Appointment of The Bank of New York as successor Trustee and resignation of former Trustee
WHEREAS , the Supplemental Indentures have each been recorded in the public records of the counties listed on Exhibit A hereto, on the dates and in the official record books and at the page numbers listed thereon; and
WHEREAS , subsequent to the date of the execution and delivery of the Forty-Seventh Supplemental Indenture the Company has purchased, constructed or otherwise acquired certain property hereinafter referred to, and the Company desires by this Supplemental Indenture to confirm the lien of the Original Indenture on such property; and
WHEREAS , pursuant to the Forty-Seventh Supplemental Indenture, JPMorgan Chase Bank, N.A., resigned as Trustee and The Bank of New York was appointed as the successor Trustee, effective December 13, 2007; and
WHEREAS, The Bank of New York is eligible and qualified to serve as Trustee under the Indenture; and
WHEREAS , the Company desires by this Supplemental Indenture to create two new series of bonds to be designated as (i) First Mortgage Bonds, 5.65% Series due 2018 (the “2018 Bonds”) and (ii) First Mortgage Bonds, 6.40% Series due 2038 (the “2038 Bonds” and together with the 2018 Bonds, sometimes herein collectively called the “New Series Bonds”), to be issued under the Original Indenture pursuant to Section 2.01 of the Original Indenture, and also desires to deliver to the Trustee prior to or simultaneously with the authentication and delivery of the initial issue of One Billion Five Hundred Million Dollars ($1,500,000,000) principal amount of New Series Bonds pursuant to Section 4.03 of the Original Indenture the documents and instruments required by said section; and
WHEREAS , the Company in the exercise of the powers and authority conferred upon and reserved to it under and by virtue of the Indenture, and pursuant to the resolutions of its Board of Directors (as defined in the Indenture, which definition includes any duly authorized committee

6


 

of the Board of Directors, including the First Mortgage Bond Indenture Committee of the Board of Directors) has duly resolved and determined to make, execute and deliver to the Trustee a Supplemental Indenture in the form hereof for the purposes herein provided; and
WHEREAS , all conditions and requirements necessary to make this Supplemental Indenture a valid, binding and legal instrument in accordance with its terms have been done, performed and fulfilled, and the execution and delivery hereof have been in all respects duly authorized;
NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH : That Florida Power Corporation d/b/a Progress Energy Florida, Inc., in consideration of the premises and of One Dollar ($1.00) and other good and valuable consideration to it duly paid by the Trustee at or before the ensealing and delivery of these presents, the receipt whereof is hereby acknowledged, and in order to secure the payment of both the principal of and interest and premium, if any, on the bonds from time to time issued and to be issued under the Indenture, according to their tenor and effect, does hereby confirm the grant, sale, resale, conveyance, assignment, transfer, mortgage and pledge of the property described in the Original Indenture and the Supplemental Indentures (except such properties or interests therein as may have been released or sold or disposed of in whole or in part as permitted by the provisions of the Original Indenture), and hath granted, bargained, sold, released, conveyed, assigned, transferred, mortgaged, pledged, set over and confirmed, and by these presents doth grant, bargain, sell, release, convey, assign, transfer, mortgage, pledge, set over and confirm unto The Bank of New York, as Trustee, and to its successors in the trust and to its successors and assigns, forever, all property, real, personal and mixed, tangible and intangible, owned by the Company on the date of the execution of this Supplemental Indenture or which may be hereafter acquired by it, including (but not limited to) all property which it has acquired subsequent to the date of execution of the Forty-Seventh Supplemental Indenture and situated in the State of Florida, including without limitation the property described on Exhibit B hereto (in all cases, except such property as is expressly excepted by the Original Indenture from the lien and operation thereof); and without in any way limiting or impairing by the enumeration of the same the scope and intent of the foregoing, all lands, power sites, flowage rights, water rights, water locations, water appropriations, ditches, flumes, reservoirs, reservoir sites, canals, raceways, dams, dam sites, aqueducts and all other rights or means for appropriating, conveying, storing and supplying water; all rights of way and roads; all plants for the generation of electricity by steam, water and/or other power; all power houses, facilities for utilization of natural gas, street lighting systems, if any, standards and other equipment incidental thereto, telephone, radio and television systems, microwave systems, facilities for utilization of water, steam heat and hot water plants, if any, all substations, lines, service and supply systems, bridges, culverts, tracks, offices, buildings and other structures and equipment and fixtures thereof; all machinery, engines, boilers, dynamos, electric machines, regulators, meters, transformers, generators, motors, electrical and mechanical appliances, conduits, cables, pipes, fittings, valves and connections, poles (wood, metal and concrete), and transmission lines, wires, cables, conductors, insulators, tools, implements, apparatus, furniture, chattels, and choses in action; all municipal and other franchises, consents, licenses or permits; all lines for the distribution of electric current, gas, steam heat or water for any purpose including towers, poles (wood, metal and concrete), 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 use and occupancy of the same (except as herein or in the

7


 

Original Indenture or any of the Supplemental Indentures 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 Original Indenture and said Supplemental Indentures, described.
IT IS HEREBY AGREED by the Company that all the property, rights and franchises acquired by the Company after the date hereof (except any property herein or in the Original Indenture or any of the Supplemental Indentures expressly excepted) shall, subject to the provisions of Section 9.01 of the Original Indenture and to the extent permitted by law, be as fully embraced within the lien hereof as if such property, rights and franchises were now owned by the Company and/or specifically described herein and conveyed hereby.
TOGETHER WITH all and singular the tenements, hereditaments and appurtenances belonging or in any way appertaining to the aforesaid mortgaged property or any part thereof, with the reversion and reversions, remainder and remainders and (subject to the provisions of Section 9.01 of the Original Indenture) 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 mortgaged property and every part and parcel thereof.
TO HAVE AND TO HOLD THE SAME unto The Bank of New York, the Trustee, and its successors in the trust and its assigns forever, but IN TRUST NEVERTHELESS upon the terms and trusts set forth in the Indenture, for the benefit and security of those who shall hold the bonds and coupons issued and to be issued under the Indenture, without preference, priority or distinction as to lien of any of said bonds and coupons over any others thereof by reason or priority in the time of the issue or negotiation thereof, or otherwise howsoever, subject, however, to the provisions of Sections 10.03 and 10.12 of the Original Indenture.
SUBJECT, HOWEVER , to the reservations, exceptions, conditions, limitations and restrictions contained in the several deeds, servitudes and contracts or other instruments through which the Company acquired, and/or claims title to and/or enjoys the use of the aforesaid properties; and subject also to encumbrances of the character defined in the Original Indenture as “excepted encumbrances” in so far as the same may attach to any of the property embraced herein.
Without derogating from the security and priority presently afforded by the Indenture and by law for all of the bonds of the Company that have been, are being, and may in the future be, issued pursuant to the Indenture, for purposes of obtaining any additional benefits and security provided by Section 697.04 of the Florida Statutes, the following provisions of this paragraph shall be applicable. The Indenture also shall secure the payment of both principal and interest and premium, if any, on the bonds from time to time hereafter issued pursuant to the Indenture, according to their tenor and effect, and the performance and observance of all the provisions of the Indenture (including any indentures supplemental thereto and any modification or alteration thereof made as therein provided), whether the issuance of such bonds may be optional or mandatory, and for any purpose, within twenty (20) years from the date of this Supplemental Indenture. The total amount of indebtedness secured by the Indenture may decrease or increase from time to time, but the total unpaid balance so secured at any one time shall not exceed the maximum principal amount of $10,000,000,000, plus interest and premium, if any, as well as any

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disbursements made for the payment of taxes, levies or insurance on the property encumbered by the Indenture, with interest on those disbursements, plus any increase in the principal balance as the result of negative amortization or deferred interest. For purposes of Section 697.04 of the Florida Statutes, the Original Indenture, as well as all of the indentures supplemental thereto that have been executed prior to the date of this Supplemental Indenture, are incorporated herein by this reference with the same effect as if they had been set forth in full herein.
And, upon the consideration hereinbefore set forth, the Company does hereby covenant and agree to and with the Trustee and its successors in trust under the Indenture for the benefit of those who shall hold bonds and coupons issued and to be issued under the Indenture, as follows:
ARTICLE I
THE NEW SERIES BONDS
A. FIRST MORTGAGE BONDS, 5.65% SERIES DUE 2018
Section 1. The Company hereby creates a new series of bonds, not limited in principal amount except as provided in the Original Indenture, to be issued under and secured by the Original Indenture, to be designated by the title “First Mortgage Bonds, 5.65% Series due 2018.” The initial issue of the 2018 Bonds shall consist of Five Hundred Million Dollars ($500,000,000) principal amount thereof. Subject to the terms of the Indenture, the principal amount of the 2018 Bonds is unlimited. The Company may, at its option in the future, issue additional 2018 Bonds.
The 2018 Bonds shall be issued only as registered bonds without coupons in the denomination of Two Thousand Dollars ($2,000) and any integral multiple of One Thousand Dollars ($1,000) above that amount.
Section 2. (a) The 2018 Bonds shall be issued in registered form without coupons and shall be issued initially in the form of one or more Global Bonds (each such Global Bond, a “2018 Global Bond”) to or on behalf of The Depository Trust Company (“DTC”), as Depositary therefor, and registered in the name of such Depositary or its nominee. Any 2018 Bonds to be issued or transferred to, or to be held by or on behalf of DTC as such Depositary or such nominee (or any successor of such nominee) for such purpose shall bear the depositary legends in substantially the form set forth at the top of the form of the 2018 Bonds in Section C of this Article I, unless otherwise agreed by the Company, and in the case of a successor Depositary, such legend or legends as such Depositary and/or the Company shall require and to which each shall agree, in each case such agreement to be confirmed in writing to the Trustee. Principal of, and interest on, the 2018 Bonds and the Make-Whole Redemption Price (as defined below), if applicable, will be payable, the transfer of the 2018 Bonds will be registrable and the 2018 Bonds will be exchangeable for the 2018 Bonds bearing identical terms and provisions, at the office or agency of the Company in the Borough of Manhattan, The City and State of New York; provided, however, that payment of interest may be made at the option of the Company by check mailed to the registered holders thereof at their registered address; and further provided, however, that with respect to a 2018 Global Bond, the Company may make payments of principal of, and interest on, the 2018 Global Bond and the Make-Whole Redemption Price, if applicable, and interest on such 2018 Global Bond pursuant to and in accordance with such arrangements as are agreed

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upon by the Company and the Depositary for such 2018 Global Bond. The New Series Bonds shall have the terms set forth in the form of the New Series Bond set forth in Section C of this Article I.
(b) Notwithstanding any other provision of this Subsection A.2 of this Article I or of Section 2.03 of the Original Indenture, except as contemplated by the provisions of paragraph (c) below, a 2018 Global Bond may be transferred, in whole but not in part and in the manner provided in Section 2.03 of the Original Indenture, only to a nominee of the Depositary for such 2018 Global Bond, or to the Depositary, or to a successor Depositary for such 2018 Global Bond selected or approved by the Company, or to a nominee of such successor Depositary.
(c) (1) If at any time the Depositary for a 2018 Global Bond notifies the Company that it is unwilling or unable to continue as the Depositary for such 2018 Global Bond or if at any time the Depositary for a 2018 Global Bond shall no longer be eligible or in good standing under any applicable statute or regulation, the Company shall appoint a successor Depositary with respect to such 2018 Global Bond. If a successor Depositary for such 2018 Global Bond is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such ineligibility, the Company will execute, and the Trustee, upon receipt of a Company order for the authentication and delivery of 2018 Bonds in the form of definitive certificates in exchange for such 2018 Global Bond, will authenticate and deliver, without service charge, 2018 Bonds in the form of definitive certificates of like tenor and terms in an aggregate principal amount equal to the principal amount of the 2018 Global Bond in exchange for such 2018 Global Bond. Such 2018 Bonds will be issued to and registered in the name of such person or persons as are specified by the Depositary.
     (2) The Company may at any time and in its sole discretion determine that any 2018 Bonds issued or issuable in the form of one or more 2018 Global Bonds shall no longer be represented by such 2018 Global Bond or Bonds. In any such event the Company will execute, and the Trustee, upon receipt of a Company order for the authentication and delivery of 2018 Bonds in the form of definitive certificates in exchange in whole or in part for such 2018 Global Bond or Bonds, will authenticate and deliver, without service charge, to each person specified by the Depositary, 2018 Bonds in the form of definitive certificates of like tenor and terms in an aggregate principal amount equal to the principal amount of such 2018 Global Bond or the aggregate principal amount of such 2018 Global Bonds in exchange for such 2018 Global Bond or Bonds.
     (3) If the Company so elects in an officer’s certificate, the Depositary may surrender 2018 Bonds issued in the form of a 2018 Global Bond in exchange in whole or in part for 2018 Bonds in the form of definitive certificates of like tenor and terms on such terms as are acceptable to the Company and such Depositary. Thereupon the Company shall execute, and the Trustee shall authenticate and deliver, without service charge, (A) to each person specified by such Depositary a new 2018 Bond or Bonds of like tenor and terms and any authorized denomination as requested by such person in aggregate principal amount equal to and in exchange for such person’s beneficial interest in the 2018 Global Bond; and (B) to such Depositary a new 2018 Global Bond of like tenor and terms and in an authorized denomination equal to the difference, if any, between the principal amount of the surrendered 2018 Global Bond and the aggregate principal amount of 2018 Bonds delivered to holders thereof.

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     (4) In any exchange provided for in any of the preceding three subparagraphs, the Company shall execute and the Trustee shall authenticate and deliver 2018 Bonds in the form of definitive certificates in authorized denominations. Upon the exchange of the entire principal amount of a 2018 Global Bond for 2018 Bonds in the form of definitive certificates, such 2018 Global Bond shall be canceled by the Trustee. Except as provided in the immediately preceding subparagraph, 2018 Bonds issued in exchange for a 2018 Global Bond pursuant to Subsection A.2 of this Article I shall be registered in such names and in such authorized denominations as the Depositary for such 2018 Global Bond, acting pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee. Provided that the Company and the Trustee have so agreed, the Trustee shall deliver such 2018 Bonds to the persons in whose names the 2018 Bonds are so to be registered.
     (5) Any endorsement of a 2018 Global Bond to reflect the principal amount thereof, or any increase or decrease in such principal amount, shall be made in such manner and by such person or persons as shall be specified in or pursuant to any applicable letter of representations or other arrangement entered into with, or procedures of, the Depositary with respect to such 2018 Global Bond or in the Company order delivered or to be delivered pursuant to Section 4.07 of the Original Indenture with respect thereto. Subject to the provisions of Section 4.07 of the Original Indenture, the Trustee shall deliver and redeliver any such 2018 Global Bond in the manner and upon instructions given by the person or persons specified in or pursuant to any applicable letter of representations or other arrangement entered into with, or procedures of, the Depositary with respect to such 2018 Global Bond or in any applicable Company order. If a Company order pursuant to Section 4.07 of the Original Indenture is so delivered, any instructions by the Company with respect to such 2018 Global Bond contained therein shall be in writing but need not be accompanied by or contained in an officer’s certificate and need not be accompanied by an opinion of counsel.
     (6) The Depositary or, if there be one, its nominee, shall be the holder of a 2018 Global Bond for all purposes under the Indenture and the 2018 Bonds and beneficial owners with respect to such 2018 Global Bond shall hold their interests pursuant to applicable procedures of such Depositary. The Company, the Trustee and any bond registrar shall be entitled to deal with such Depositary for all purposes of the Indenture relating to such 2018 Global Bond (including the payment of principal, the Make-Whole Redemption Price, if applicable, and interest and the giving of instructions or directions by or to the beneficial owners of such 2018 Global Bond as the sole holder of such 2018 Global Bond and shall have no obligations to the beneficial owners thereof (including any direct or indirect participants in such Depositary)). None of the Company, the Trustee, any paying agent or bond registrar shall have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a beneficial owner in or pursuant to any applicable letter of representations or other arrangement entered into with, or procedures of, the Depositary with respect to such 2018 Global Bond or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests.
Section 3. June 18, 2008 shall be the date of the beginning of the first interest period for the 2018 Bonds. The first Interest Payment Date (as defined below) shall be December 15, 2008. The 2018 Bonds shall be dated as provided in Section 2.01 of the Original Indenture. The 2018 Bonds shall be payable on June 15, 2018, in such coin or currency of the United States of

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America as at the time of payment is legal tender for the payment of public and private debts, and shall bear interest, payable in like coin or currency, at the rate of 5.65% per annum, payable semiannually on June 15 and December 15 of each year (each an “Interest Payment Date”) to the persons in whose names the 2018 Bonds are registered at the close of business on the tenth calendar day next preceding the Interest Payment Date (i.e., June 5 and December 5, respectively) (each a “Regular Record Date”), provided, however, that so long as the 2018 Bonds are registered in the name of DTC, its nominee or a successor depository, the Regular Record Date for interest payable on any Interest Payment Date shall be the close of business on the business day immediately preceding such Interest Payment Date (each subject to certain exceptions provided in this Supplemental Indenture and the Indenture), until maturity, according to the terms of the bonds or on prior redemption or by declaration or otherwise, and at the highest rate of interest borne by any of the bonds outstanding under the Indenture from such date of maturity until they shall be paid or payment thereof shall have been duly provided for. Principal of, and interest on, the 2018 Bonds and the Make-Whole Redemption Price, if applicable, shall be payable at the office or agency of the Company in the Borough of Manhattan, The City of New York; provided, however , that payment of interest may be made, at the option of the Company, by check mailed by the Company or its affiliate to the person entitled thereto at his registered address. If a due date for the payment of interest, principal or the Make-Whole Redemption Price, if applicable, falls on a day that is not a business day, then the payment will be made on the next succeeding business day, and no interest will accrue on the amounts payable for the period from and after the original due date and until the next business day. The term “business day” means any day other than a Saturday or Sunday or day on which banking institutions in the City of New York are required or authorized to close.
The 2018 Bonds may be redeemed at the option of the Company in whole at any time, or in part from time to time, prior to maturity, at a make-whole redemption price (the “Make-Whole Redemption Price”). The Make-Whole Redemption Price shall be equal to the greater of (i) 100% of the principal amount of the 2018 Bonds being redeemed or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the 2018 Bonds being redeemed, discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 25 basis points, plus in each case accrued and unpaid interest on the principal amount being redeemed to the redemption date.
“Comparable Treasury Issue,” means the United States Treasury security or securities selected by an Independent Investment Banker (as defined below) as having an actual or interpolated maturity comparable to the remaining term of the 2018 Bonds being redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such 2018 Bonds.
“Comparable Treasury Price,” means, with respect to any redemption date, the average of the Reference Treasury Dealer Quotations (as defined below) for such redemption date.
“Independent Investment Banker,” means one of the Reference Treasury Dealer(s) (as defined below) selected by the Company.

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“Reference Treasury Dealer,” means, Barclays Capital Inc. or Citigroup Global Markets Inc. or Greenwich Capital Markets, Inc., and their respective successors, and one additional primary U.S. Government securities dealer in The City of New York (each a “primary treasury dealer”) selected by the Company. If any Reference Treasury Dealer shall cease to be a primary treasury dealer, the Company will substitute another primary treasury dealer for that dealer.
“Reference Treasury Dealer Quotations,” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference Treasury Dealer at 3:30 p.m. New York time on the third business day preceding such redemption date.
“Treasury Rate,” means, with respect to any redemption date, the rate per annum equal to the semiannual equivalent yield to actual or interpolated maturity (on a day count basis) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date.
So long as the 2018 Bonds are registered in the name of DTC, its nominee or a successor depositary, if the Company elects to redeem less than all of the 2018 Bonds, DTC’s practice is to determine by lot the amount of the interest of each Direct Participant in the 2018 Bonds to be redeemed. At all other times, the Trustee shall draw by lot, in such manner as it deems appropriate, the particular 2018 Bonds, or portions of them, to be redeemed.
The 2018 Bonds shall also be redeemable, as a whole but not in part, at the Make-Whole Redemption Price in the event that (i) all the outstanding common stock of the Company shall be acquired by some governmental body or instrumentality and the Company elects to redeem all of the bonds of all series, the redemption date in any such event to be not more than one hundred twenty (120) days after the date on which all said stock is so acquired or (ii) all, or substantially all, the mortgaged and pledged property constituting bondable property which at the time shall be subject to the lien of the Indenture as a first lien shall be released from the lien of the Indenture pursuant to the provisions thereof, and available moneys in the hands of the Trustee, including any moneys deposited by the Company available for the purpose, are sufficient to redeem all the bonds of all series at the redemption prices (together with accrued interest to the date of redemption) specified therein applicable to the redemption thereof upon the happening of such event.
Notice of redemption shall be given by mail not less than 30 nor more than 90 days prior to the date fixed for redemption to the holders of 2018 Bonds to be redeemed (which, as long as the 2018 Bonds are held in the book-entry only system, will be the Depository, its nominee or a successor depository). On and after the date fixed for redemption (unless the Company defaults in the payment of the Make-Whole Redemption Price and interest accrued thereon to such date), interest on the 2018 Bonds or the portions of them so called for redemption shall cease to accrue. If the Company elects to redeem any 2018 Bonds, the Company will notify the Trustee of its election at least 45 days prior to the redemption date (or a shorter period acceptable to the Trustee) including in such notice, a reasonably detailed computation of the Make-Whole Redemption Price.

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The 2018 Bonds of the several denominations are exchangeable for a like aggregate principal amount of other 2018 Bonds of other authorized denominations. Notwithstanding the provisions of Section 2.03 of the Original Indenture, for any exchange of the 2018 Bonds for other 2018 Bonds of different authorized denominations, or for any transfer of 2018 Bonds, the Company may require the payment of a sum sufficient to reimburse it for any tax or other governmental charge incident thereto only. The 2018 Bonds may be presented for transfer or exchange at the corporate trust office of the Trustee in New York, New York.
B. FIRST MORTGAGE BONDS, 6.40% SERIES DUE 2038
Section 1. The Company hereby creates a new series of bonds, not limited in principal amount except as provided in the Original Indenture, to be issued under and secured by the Original Indenture, to be designated by the title “First Mortgage Bonds, 6.40% Series due 2038.” The initial issue of the 2038 Bonds shall consist of One Billion Dollars ($1,000,000,000) principal amount thereof. Subject to the terms of the Indenture, the principal amount of the 2038 Bonds is unlimited. The Company may, at its option in the future, issue additional 2038 Bonds.
The 2038 Bonds shall be issued only as registered bonds without coupons in the denomination of Two Thousand Dollars ($2,000) and any integral multiple of One Thousand Dollars ($1,000) above that amount.
Section 2. (a) The 2038 Bonds shall be issued in registered form without coupons and shall be issued initially in the form of one or more Global Bonds (each such Global Bond, a “2038 Global Bond”) to or on behalf of The Depository Trust Company (“DTC”), as Depositary therefor, and registered in the name of such Depositary or its nominee. Any 2038 Bonds to be issued or transferred to, or to be held by or on behalf of DTC as such Depositary or such nominee (or any successor of such nominee) for such purpose shall bear the depositary legends in substantially the form set forth at the top of the form of the 2038 Bonds in Section C of this Article I, unless otherwise agreed by the Company, and in the case of a successor Depositary, such legend or legends as such Depositary and/or the Company shall require and to which each shall agree, in each case such agreement to be confirmed in writing to the Trustee. Principal of, and interest on, the 2038 Bonds and the Make-Whole Redemption Price (as defined below), if applicable, will be payable, the transfer of the 2038 Bonds will be registrable and the 2038 Bonds will be exchangeable for the 2038 Bonds bearing identical terms and provisions, at the office or agency of the Company in the Borough of Manhattan, The City and State of New York; provided, however, that payment of interest may be made at the option of the Company by check mailed to the registered holders thereof at their registered address; and further provided, however, that with respect to a 2038 Global Bond, the Company may make payments of principal of, and interest on, the 2038 Global Bond and the Make-Whole Redemption Price, if applicable, and interest on such 2038 Global Bond pursuant to and in accordance with such arrangements as are agreed upon by the Company and the Depositary for such 2038 Global Bond. The 2038 Bonds shall have the terms set forth in the form of the 2038 Bond set forth in Section C of this Article I.
(b) Notwithstanding any other provision of this Subsection B.2 of this Article I or of Section 2.03 of the Original Indenture, except as contemplated by the provisions of paragraph (c) below, a 2038 Global Bond may be transferred, in whole but not in part and in the manner provided in Section 2.03 of the Original Indenture, only to a nominee of the Depositary for such 2038 Global

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Bond, or to the Depositary, or to a successor Depositary for such 2038 Global Bond selected or approved by the Company, or to a nominee of such successor Depositary.
(c) (1) If at any time the Depositary for a 2038 Global Bond notifies the Company that it is unwilling or unable to continue as the Depositary for such 2038 Global Bond or if at any time the Depositary for a 2038 Global Bond shall no longer be eligible or in good standing under any applicable statute or regulation, the Company shall appoint a successor Depositary with respect to such 2038 Global Bond. If a successor Depositary for such 2038 Global Bond is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such ineligibility, the Company will execute, and the Trustee, upon receipt of a Company order for the authentication and delivery of 2038 Bonds in the form of definitive certificates in exchange for such 2038 Global Bond, will authenticate and deliver, without service charge, 2038 Bonds in the form of definitive certificates of like tenor and terms in an aggregate principal amount equal to the principal amount of the 2038 Global Bond in exchange for such 2038 Global Bond. Such 2038 Bonds will be issued to and registered in the name of such person or persons as are specified by the Depositary.
     (2) The Company may at any time and in its sole discretion determine that any 2038 Bonds issued or issuable in the form of one or more 2038 Global Bonds shall no longer be represented by such 2038 Global Bond or Bonds. In any such event the Company will execute, and the Trustee, upon receipt of a Company order for the authentication and delivery of 2038 Bonds in the form of definitive certificates in exchange in whole or in part for such 2038 Global Bond or Bonds, will authenticate and deliver, without service charge, to each person specified by the Depositary, 2038 Bonds in the form of definitive certificates of like tenor and terms in an aggregate principal amount equal to the principal amount of such 2038 Global Bond or the aggregate principal amount of such 2038 Global Bonds in exchange for such 2038 Global Bond or Bonds.
     (3) If the Company so elects in an officer’s certificate, the Depositary may surrender 2038 Bonds issued in the form of a 2038 Global Bond in exchange in whole or in part for 2038 Bonds in the form of definitive certificates of like tenor and terms on such terms as are acceptable to the Company and such Depositary. Thereupon the Company shall execute, and the Trustee shall authenticate and deliver, without service charge, (A) to each person specified by such Depositary a new 2038 Bond or Bonds of like tenor and terms and any authorized denomination as requested by such person in aggregate principal amount equal to and in exchange for such person’s beneficial interest in the 2038 Global Bond; and (B) to such Depositary a new 2038 Global Bond of like tenor and terms and in an authorized denomination equal to the difference, if any, between the principal amount of the surrendered 2038 Global Bond and the aggregate principal amount of 2038 Bonds delivered to holders thereof.
     (4) In any exchange provided for in any of the preceding three subparagraphs, the Company shall execute and the Trustee shall authenticate and deliver 2038 Bonds in the form of definitive certificates in authorized denominations. Upon the exchange of the entire principal amount of a 2038 Global Bond for 2038 Bonds in the form of definitive certificates, such 2038 Global Bond shall be canceled by the Trustee. Except as provided in the immediately preceding subparagraph, 2038 Bonds issued in exchange for a 2038 Global Bond pursuant to Subsection B.2 of this Article I shall be registered in such names and in such authorized denominations as

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the Depositary for such 2038 Global Bond, acting pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee. Provided that the Company and the Trustee have so agreed, the Trustee shall deliver such 2038 Bonds to the persons in whose names the 2038 Bonds are so to be registered.
     (5) Any endorsement of a 2038 Global Bond to reflect the principal amount thereof, or any increase or decrease in such principal amount, shall be made in such manner and by such person or persons as shall be specified in or pursuant to any applicable letter of representations or other arrangement entered into with, or procedures of, the Depositary with respect to such 2038 Global Bond or in the Company order delivered or to be delivered pursuant to Section 4.07 of the Original Indenture with respect thereto. Subject to the provisions of Section 4.07 of the Original Indenture, the Trustee shall deliver and redeliver any such 2038 Global Bond in the manner and upon instructions given by the person or persons specified in or pursuant to any applicable letter of representations or other arrangement entered into with, or procedures of, the Depositary with respect to such 2038 Global Bond or in any applicable Company order. If a Company order pursuant to Section 4.07 of the Original Indenture is so delivered, any instructions by the Company with respect to such 2038 Global Bond contained therein shall be in writing but need not be accompanied by or contained in an officer’s certificate and need not be accompanied by an opinion of counsel.
     (6) The Depositary or, if there be one, its nominee, shall be the holder of a 2038 Global Bond for all purposes under the Indenture and the 2038 Bonds and beneficial owners with respect to such 2038 Global Bond shall hold their interests pursuant to applicable procedures of such Depositary. The Company, the Trustee and any bond registrar shall be entitled to deal with such Depositary for all purposes of the Indenture relating to such 2038 Global Bond (including the payment of principal, the Make-Whole Redemption Price, if applicable, and interest and the giving of instructions or directions by or to the beneficial owners of such 2038 Global Bond as the sole holder of such 2038 Global Bond and shall have no obligations to the beneficial owners thereof (including any direct or indirect participants in such Depositary)). None of the Company, the Trustee, any paying agent or bond registrar shall have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a beneficial owner in or pursuant to any applicable letter of representations or other arrangement entered into with, or procedures of, the Depositary with respect to such 2038 Global Bond or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests.
Section 3. June 18, 2008 shall be the date of the beginning of the first interest period for the 2038 Bonds. The first Interest Payment Date (as defined below) shall be December 15, 2008. The 2038 Bonds shall be dated as provided in Section 2.01 of the Original Indenture. The 2038 Bonds shall be payable on June 15, 2038 in such coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and private debts, and shall bear interest, payable in like coin or currency, at the rate of 6.40% per annum, payable semiannually on June 15 and December 15 of each year (each an “Interest Payment Date”) to the persons in whose names the 2038 Bonds are registered at the close of business on the tenth calendar day next preceding the Interest Payment Date (i.e., June 5 and December 5, respectively) (each a “Regular Record Date”), provided, however, that so long as the 2038 Bonds are registered in the name of DTC, its nominee or a successor depository, the Regular Record

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Date for interest payable on any Interest Payment Date shall be the close of business on the business day immediately preceding such Interest Payment Date (each subject to certain exceptions provided in this Supplemental Indenture and the Indenture), until maturity, according to the terms of the bonds or on prior redemption or by declaration or otherwise, and at the highest rate of interest borne by any of the bonds outstanding under the Indenture from such date of maturity until they shall be paid or payment thereof shall have been duly provided for. Principal of, and interest on, the 2038 Bonds and the Make-Whole Redemption Price, if applicable, shall be payable at the office or agency of the Company in the Borough of Manhattan, The City of New York; provided, however , that payment of interest may be made, at the option of the Company, by check mailed by the Company or its affiliate to the person entitled thereto at his registered address. If a due date for the payment of interest, principal or the Make-Whole Redemption Price, if applicable, falls on a day that is not a business day, then the payment will be made on the next succeeding business day, and no interest will accrue on the amounts payable for the period from and after the original due date and until the next business day. The term “business day” means any day other than a Saturday or Sunday or day on which banking institutions in the City of New York are required or authorized to close.
The 2038 Bonds may be redeemed at the option of the Company in whole at any time, or in part from time to time, prior to maturity, at a make-whole redemption price (the “Make-Whole Redemption Price”). The Make-Whole Redemption Price shall be equal to the greater of (i) 100% of the principal amount of the 2038 Bonds being redeemed or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the 2038 Bonds being redeemed, discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 30 basis points, plus in each case accrued and unpaid interest on the principal amount being redeemed to the redemption date.
“Comparable Treasury Issue,” means the United States Treasury security or securities selected by an Independent Investment Banker (as defined below) as having an actual or interpolated maturity comparable to the remaining term of the 2038 Bonds being redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such 2038 Bonds.
“Comparable Treasury Price,” means, with respect to any redemption date, the average of the Reference Treasury Dealer Quotations (as defined below) for such redemption date.
“Independent Investment Banker,” means one of the Reference Treasury Dealer(s) (as defined below) appointed by the Company.
“Reference Treasury Dealer,” means , Barclays Capital Inc. or Citigroup Global Markets Inc. or Greenwich Capital Markets, Inc., and their respective successors, and one additional primary U.S. Government securities dealer in The City of New York (each a “primary treasury dealer”) selected by the Company. If any Reference Treasury Dealer shall cease to be a primary treasury dealer, the Company will substitute another primary treasury dealer for that dealer.
“Reference Treasury Dealer Quotations,” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Company, of the bid and asked

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prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference Treasury Dealer at 3:30 p.m. New York time on the third business day preceding such redemption date.
“Treasury Rate,” means, with respect to any redemption date, the rate per annum equal to the semiannual equivalent yield to actual or interpolated maturity (on a day count basis) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date.
So long as the 2038 Bonds are registered in the name of DTC, its nominee or a successor depositary, if the Company elects to redeem less than all of the 2038 Bonds, DTC’s practice is to determine by lot the amount of the interest of each Direct Participant in the 2038 Bonds to be redeemed. At all other times, the Trustee shall draw by lot, in such manner as it deems appropriate, the particular 2038 Bonds, or portions of them, to be redeemed.
The 2038 Bonds shall also be redeemable, as a whole but not in part, at the Make-Whole Redemption Price in the event that (i) all the outstanding common stock of the Company shall be acquired by some governmental body or instrumentality and the Company elects to redeem all of the bonds of all series, the redemption date in any such event to be not more than one hundred twenty (120) days after the date on which all said stock is so acquired or (ii) all, or substantially all, the mortgaged and pledged property constituting bondable property which at the time shall be subject to the lien of the Indenture as a first lien shall be released from the lien of the Indenture pursuant to the provisions thereof, and available moneys in the hands of the Trustee, including any moneys deposited by the Company available for the purpose, are sufficient to redeem all the bonds of all series at the redemption prices (together with accrued interest to the date of redemption) specified therein applicable to the redemption thereof upon the happening of such event.
Notice of redemption shall be given by mail not less than 30 nor more than 90 days prior to the date fixed for redemption to the holders of 2038 Bonds to be redeemed (which, as long as the 2038 Bonds are held in the book-entry only system, will be the Depository, its nominee or a successor depository). On and after the date fixed for redemption (unless the Company defaults in the payment of the Make-Whole Redemption Price and interest accrued thereon to such date), interest on the 2038 Bonds or the portions of them so called for redemption shall cease to accrue. If the Company elects to redeem any 2038 Bonds, the Company will notify the Trustee of its election at least 45 days prior to the redemption date (or a shorter period acceptable to the Trustee) including in such notice, a reasonably detailed computation of the Make-Whole Redemption Price.
The 2038 Bonds of the several denominations are exchangeable for a like aggregate principal amount of other 2038 Bonds of other authorized denominations. Notwithstanding the provisions of Section 2.03 of the Original Indenture, for any exchange of the 2038 Bonds for other 2038 Bonds of different authorized denominations, or for any transfer of 2038 Bonds, the Company may require the payment of a sum sufficient to reimburse it for any tax or other governmental charge incident thereto only. The 2038 Bonds may be presented for transfer or exchange at the corporate trust office of the Trustee in New York, New York.

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C. FORM OF THE NEW SERIES BONDS
The New Series Bonds shall be substantially in the following form, with such inclusions, omissions, and variations as the Board of Directors of the Company may determine in accordance with the provisions of the Indenture:
[FORM OF THE NEW SERIES BONDS]
[Insert applicable depositary legend or legends, which initially shall be the following:
THIS SECURITY IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO FLORIDA POWER CORPORATION d/b/a PROGRESS ENERGY FLORIDA, INC. OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.
THIS FIRST MORTGAGE BOND, ___% SERIES DUE 20___ MAY, UNDER CONDITIONS PROVIDED IN THE INDENTURE, BE EXCHANGED FOR FIRST MORTGAGE BONDS, ___% SERIES DUE 20___ IN THE FORM OF DEFINITIVE CERTIFICATES OF LIKE TENOR AND OF AN EQUAL AGGREGATE PRINCIPAL AMOUNT, IN AUTHORIZED DENOMINATIONS, REGISTERED IN THE NAMES OF SUCH PERSONS AS THE DEPOSITARY SHALL INSTRUCT THE TRUSTEE. ANY SUCH EXCHANGE SHALL BE MADE UPON RECEIPT BY THE TRUSTEE OF AN OFFICER’S CERTIFICATE THEREFOR AND A WRITTEN INSTRUCTION FROM THE DEPOSITARY SETTING FORTH THE NAME OR NAMES IN WHICH THE TRUSTEE IS TO REGISTER SUCH FIRST MORTGAGE BONDS, ___% SERIES DUE 20___ IN THE FORM OF DEFINITIVE CERTIFICATES.]
REGISTERED BOND   CUSIP No. ______

19


 

FLORIDA POWER CORPORATION
d/b/a PROGRESS ENERGY FLORIDA, INC.
(Incorporated under the laws of the State of Florida)
FIRST MORTGAGE BOND,
___% SERIES DUE 20__
DUE ______, 20__
No. ______   $_________
FLORIDA POWER CORPORATION d/b/a PROGRESS ENERGY FLORIDA, INC. , a corporation of the State of Florida (hereinafter called the Company), for value received, hereby promises to pay to ________________________ or registered assigns, on _____________ at the office or agency of the Company in the Borough of Manhattan, The City of New York, _________ Million Dollars ($___,000,000) in such coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and private debts, and to pay interest thereon, semiannually on _________ and _________ of each year, commencing _________ ___, 20___, to the person in whose name this bond is registered at the close of business on the tenth calendar day next preceding the interest payment date (i.e., _________ and _________, respectively), provided, however , that so long as this bond is registered in the name of The Depository Trust Company, its nominee or a successor depository, the record date for interest payable on any interest payment date shall be the close of business on the business day immediately preceding such interest payment date (each subject to certain exceptions provided in the Mortgage hereinafter mentioned), at the rate of ___ per annum, at said office or agency in like coin or currency, from the date hereof until this bond shall mature, according to its terms or on prior redemption or by declaration or otherwise, and at the highest rate of interest borne by any of the bonds outstanding under the Mortgage hereinafter mentioned from such date of maturity until this bond shall be paid or the payment hereof shall have been duly provided for; provided, however , that payment of interest may be made at the option of the Company by check mailed by the Company or its affiliate to the person entitled thereto at his registered address. If a due date for the payment of interest, principal, or the Make-Whole Redemption Price, if applicable, falls on a day that is not a business day, then the payment will be made on the next succeeding business day, and no interest will accrue on the amounts payable for the period from and after the original due date and until the next business day. The term “business day” means any day other than a Saturday or Sunday or day on which banking institutions in the City of New York are required or authorized to close.
Additional provisions of this bond are set forth on the reverse hereof and such provisions shall for all purposes have the same effect as though fully set forth at this place.
This bond shall not become valid or obligatory for any purpose until The Bank of New York, or its successor as Trustee under the Mortgage, shall have signed the certificate of authentication endorsed hereon.
IN WITNESS WHEREOF, FLORIDA POWER CORPORATION d/b/a PROGRESS ENERGY FLORIDA, INC. has caused this bond to be signed in its name by its President or one of its Vice Presidents by his signature or a facsimile thereof, and its corporate seal, or a

20


 

facsimile thereof, to be affixed hereto and attested by its Secretary or one of its Assistant Secretaries by his signature or a facsimile thereof.
Dated: June __, 2008
         
  FLORIDA POWER CORPORATION
d/b/a PROGRESS ENERGY FLORIDA, INC.

 
 
  By:      
    Name:      
    Title:      
 
         
[SEAL]

Attest:
 
   
     
Name:        
Title:        
 
TRUSTEE’S AUTHENTICATION CERTIFICATE
     This bond is one of the bonds, of the series herein designated, described or provided for in the within-mentioned Mortgage.
         
  THE BANK OF NEW YORK
 
 
  By:      
    Name:      
    Title:      
 
[TEXT APPEARING ON REVERSE SIDE OF BOND]
FLORIDA POWER CORPORATION
d/b/a PROGRESS ENERGY FLORIDA, INC.
FIRST MORTGAGE BOND
___% SERIES DUE 20___
DUE ______, 20___
This bond is one of an issue of bonds of the Company (herein referred to as the bonds), not limited in principal amount except as provided in the Mortgage hereinafter mentioned, issuable in series, which different series may mature at different times, may bear interest at different rates, and may otherwise vary as provided in the Mortgage hereinafter mentioned, and is one of a

21


 

series known as its First Mortgage Bonds, ___% Series due 20___ (herein referred to as the “Bonds of this Series”), all bonds of all series issued and to be issued under and equally and ratably secured (except insofar as any sinking or analogous fund, established in accordance with the provisions of the Mortgage hereinafter mentioned, may afford additional security for the bonds of any particular series) by an Indenture dated as of January 1, 1944 (the “Original Indenture” and herein, together with all indentures supplemental thereto including the Forty-Eighth Supplemental Indenture dated as of June 1, 2008 (the “Forty-Eighth Supplemental Indenture”) between the Company and The Bank of New York, as Trustee, called the “Mortgage”), to which reference is made for the nature and extent of the security, the rights of the holders of bonds and of the Company in respect thereof, the rights, duties and immunities of the Trustee, and the terms and conditions upon which the bonds are, and are to be, issued and secured. The Mortgage contains provisions permitting the holders of not less than seventy-five per centum (75%) in principal amount of all the bonds at the time outstanding, determined and evidenced as provided in the Mortgage, or in case the rights under the Mortgage of the holders of bonds of one or more, but less than all, of the series of bonds outstanding shall be affected, the holders of not less than seventy-five per centum (75%) in principal amount of the bonds at the time outstanding of the series affected, determined and evidenced as provided in the Mortgage, on behalf of the holders of all the bonds to waive any past default under the Mortgage and its consequences except a completed default, as defined in the Mortgage, in respect of the payment of the principal of or interest on any bond or default arising from the creation of any lien ranking prior to or equal with the lien of the Mortgage on any of the mortgaged and pledged property. The Mortgage also contains provisions permitting the Company and the Trustee, with the consent of the holders of not less than seventy-five per centum (75%) in principal amount of all the bonds at the time outstanding, determined and evidenced as provided in the Mortgage, or in case the rights under the Mortgage of the holders of bonds of one or more, but less than all, of the series of bonds outstanding shall be affected, then with the consent of the holders of not less than seventy-five per centum (75%) in principal amount of the bonds at the time outstanding of the series affected, determined and evidenced as provided in the Mortgage, to execute supplemental indentures adding any provisions to or changing in any manner or eliminating any of the provisions of the Mortgage or modifying in any manner the rights of the holders of the bonds and coupons; provided, however, that no such supplemental indenture shall (i) extend the fixed maturity of any bonds, or reduce the rate or extend the time of payment of interest thereon, or reduce the principal amount thereof, without the express consent of the holder of each bond so affected, or (ii) reduce the aforesaid percentage of bonds, the holders of which are required to consent to any such supplemental indenture, without the consent of the holders of all bonds then outstanding, or (iii) permit the creation of any lien ranking prior to or equal with the lien of the Mortgage on any of the mortgaged and pledged property, or (iv) deprive the holder of any outstanding bond of the lien of the Mortgage on any of the mortgaged and pledged property. Any such waiver or consent by the registered holder of this bond (unless effectively revoked as provided in the Mortgage) shall be conclusive and binding upon such holder and upon all future holders of this bond, irrespective of whether or not any notation of such waiver or consent is made upon this bond. No reference herein to the Mortgage and no provision of this bond or of the Mortgage shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this bond at the time and place and at the rate and in the coin or currency herein prescribed.

22


 

The Bonds of this Series are issuable in denominations of Two Thousand Dollars ($2,000) and any integral multiple of One Thousand Dollars ($1,000) above that amount and are exchangeable for a like aggregate principal amount of Bonds of this Series of other authorized denominations. This bond is transferable as prescribed in the Mortgage by the registered holder hereof in person, or by his duly authorized attorney, at the office or agency of the Company in said Borough of Manhattan, The City of New York, upon surrender and cancellation of this bond, and upon payment, if the Company shall require it, of the transfer charges prescribed in the Forty-Eighth Supplemental Indenture hereinabove referred to, and thereupon a new fully registered bond or bonds of authorized denominations of the same series and for the same aggregate principal amount will be issued to the transferee in exchange herefor as provided in the Mortgage. The Company and the Trustee, any paying agent and any bond registrar may deem and treat the person in whose name this bond is registered as the absolute owner hereof, whether or not this bond shall be overdue, for the purpose of receiving payment and for all other purposes and neither the Company nor the Trustee nor any paying agent nor any bond registrar shall be affected by any notice to the contrary.
The Bonds of this Series may be redeemed at the option of the Company in whole at any time, or in part from time to time, prior to maturity, at a make-whole redemption price (the “Make-Whole Redemption Price”). The Make-Whole Redemption Price shall be equal to the greater of (i) 100% of the principal amount of the Bonds of this Series being redeemed or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on these New Series Bonds being redeemed, discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus ___ basis points, plus in each case accrued and unpaid interest on the principal amount being redeemed to the redemption date.
“Comparable Treasury Issue,” means the United States Treasury security or securities selected by an Independent Investment Banker (as defined below) as having an actual or interpolated maturity comparable to the remaining term of the Bonds of this Series being redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such Bonds of this Series.
“Comparable Treasury Price,” means, with respect to any redemption date the average of the Reference Treasury Dealer Quotations (as defined below) for such redemption date.
“Independent Investment Banker,” means one of the Reference Treasury Dealer(s) (as defined below) appointed by the Company.
“Reference Treasury Dealer,” means , Barclays Capital Inc. or Citigroup Global Markets Inc. or Greenwich Capital Markets, Inc., and their respective successors, and one additional primary U.S. Government securities dealer in The City of New York (each a “primary treasury dealer”) selected by the Company. If any Reference Treasury Dealer shall cease to be a primary treasury dealer, the Company will substitute another primary treasury dealer for that dealer.
“Reference Treasury Dealer Quotations,” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Company, of the bid and asked

23


 

prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference Treasury Dealer at 3:30 p.m. New York time on the third business day preceding such redemption date.
“Treasury Rate,” means, with respect to any redemption date, the rate per annum equal to the semiannual equivalent yield to actual or interpolated maturity (on a day count basis) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date.
So long as the Bonds of this Series are registered in the name of DTC, its nominee or a successor depositary, if the Company elects to redeem less than all of the Bonds of this Series, DTC’s practice is to determine by lot the amount of the interest of each Direct Participant of DTC in the Bonds of this Series to be redeemed. At all other times, the Trustee shall draw by lot, in such manner as it deems appropriate, the particular Bonds of this Series, or portions of them, to be redeemed.
The Bonds of this Series shall also be redeemable, as a whole but not in part, at the Make-Whole Redemption Price in the event that (i) all the outstanding common stock of the Company shall be acquired by some governmental body or instrumentality and the Company elects to redeem all of the bonds of all series, the redemption date in any such event to be not more than one hundred twenty (120) days after the date on which all said stock is so acquired or (ii) all or substantially all the mortgaged and pledged property constituting bondable property as defined in the Mortgage which at the time shall be subject to the lien of the Mortgage as a first lien shall be released from the lien of the Mortgage pursuant to the provisions thereof, and available moneys in the hands of The Bank of New York, or its successor as Trustee, including any moneys deposited by the Company available for the purpose, are sufficient to redeem all the bonds of all series at the redemption prices (together with accrued interest to the date of redemption) specified therein applicable to the redemption thereof upon the happening of such event.
Notice of redemption shall be given by mail not less than 30 nor more than 90 days prior to the date fixed for redemption to the holders of the Bonds of this Series to be redeemed (which, as long as the Bonds of this Series are held in the book-entry only system, will be the Depository, its nominee or a successor depository). On and after the date fixed for redemption (unless the Company defaults in the payment of the Make-Whole Redemption Price and interest accrued thereon to such date), interest on the Bonds of this Series or the portions of them so called for redemption shall cease to accrue. If the Company elects to redeem any Bonds of this Series, the Company will notify the Trustee of its election at least 45 days prior to the redemption date (or a shorter period acceptable to the Trustee) including in such notice, a reasonably detailed computation of the Make-Whole Redemption Price.
The Mortgage provides that if the Company shall deposit with The Bank of New York or its successor as Trustee in trust for the purpose funds sufficient to pay the principal of all the bonds of any series, or such of the bonds of any series as have been or are to be called for redemption (including any portions, constituting $1,000 or an integral multiple thereof, of fully registered bonds), and premium, if any, thereon, and all interest payable on such bonds (or portions) to the date on which they become due and payable at maturity or upon redemption or otherwise, and

24


 

complies with the other provisions of the Mortgage in respect thereof, then from the date of such deposit such bonds (or portions) shall no longer be secured by the lien of the Mortgage.
The Mortgage provides that, upon any partial redemption of a fully registered bond, upon surrender thereof endorsed for transfer, new bonds of the same series and of authorized denominations in principal amount equal to the unredeemed portion of such fully registered bond will be delivered in exchange therefor.
The principal hereof may be declared or may become due prior to the express date of the maturity hereof on the conditions, in the manner and at the time set forth in the Mortgage, upon the occurrence of a completed default as in the Mortgage provided.
No recourse shall be had for the payment of the principal of, the Make-Whole Redemption Price, if applicable, or interest on this bond, or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Mortgage or under or upon any obligation, covenant or agreement contained in the Mortgage, against any incorporator or any past, present or future subscriber to the capital stock, stockholder, officer or director, as such, of the Company or of any predecessor or successor corporation, either directly or through the Company or any predecessor or successor corporation under any present or future rule of law, statute or constitution or by the enforcement of any assessment or otherwise, all such liability of incorporators, subscribers, stockholders, officers and directors, as such, being waived and released by the holder and owner hereof by the acceptance of this bond and being likewise waived and released by the terms of the Mortgage.
D. INTEREST ON THE NEW SERIES BONDS
Interest on any New Series Bond which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that bond (or one or more predecessor bonds) is registered at the close of business on the Regular Record Date for such interest specified in the provisions of this Supplemental Indenture. Interest shall be computed on the basis of a 360-day year composed of twelve 30-day months.
Any interest on any New Series Bond which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the registered holder on the relevant Regular Record Date solely by virtue of such holder having been such holder; and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in Subsection A or B below:
     A. The Company may elect to make payment of any Defaulted Interest on the New Series Bonds to the persons in whose names such bonds (or their respective predecessor bonds) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner (a “Special Record Date”). The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each bond and the date of the proposed payment (which date shall be such as will enable the Trustee to comply with the next sentence hereof), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such

25


 

Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons entitled to such Defaulted Interest as in this Subsection provided and not to be deemed part of the trust estate or trust moneys. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each holder of a bond of the New Series Bonds at the address as it appears in the bond register not less than 10 days prior to such Special Record Date. The Trustee may, in its discretion in the name and at the expense of the Company, cause a similar notice to be published at least once in a newspaper approved by the Company in each place of payment of the New Series Bonds, but such publication shall not be a condition precedent to the establishment of such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the persons in whose names the New Series Bonds (or their respective predecessor bonds) are registered on such Special Record Date and shall no longer be payable pursuant to the following Subsection B.
     B. The Company may make payment of any Defaulted Interest on the New Series Bonds in any other lawful manner not inconsistent with the requirements of any securities exchange on which such bonds may be listed and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this Subsection, such payment shall be deemed practicable by the Trustee.
Subject to the foregoing provisions of this Section, each New Series Bond delivered under this Supplemental Indenture upon transfer of or in exchange for or in lieu of any other New Series Bonds shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other bond and each such bond shall bear interest from such date, that neither gain nor loss in interest shall result from such transfer, exchange or substitution.
ARTICLE II
ADDITIONAL COVENANTS
The Company hereby covenants as follows:
Section 1. That it will, prior to or simultaneously with the initial authentication and delivery by the Trustee of the New Series Bonds under Section 4.03 of the Original Indenture, deliver to the Trustee the instruments required by said Section.
Section 2. That, so long as any of the New Series Bonds shall be outstanding, it will not declare or pay any dividends (except a dividend in its own common stock) upon its common stock, or

26


 

make any other distribution (by way of purchase, or otherwise) to the holders thereof, except a payment or distribution out of net income of the Company subsequent to December 31, 1943; and that it will not permit any subsidiary of the Company to purchase any shares of common stock of the Company.
For the purpose of this Section, net income of the Company shall be determined by regarding as charges or credits to income, as the case may be, any and all charges or credits to earned surplus subsequent to December 31, 1943, representing adjustments on account of excessive or deficient accruals to income for taxes, and operating expenses shall include all proper charges for the maintenance and repairs of the property owned by the Company and appropriations out of income for the retirement or depreciation of the property used in its electric business in an amount of not less than the amount of the minimum provision for depreciation determined as provided in clause (5) of paragraph A of Section 1.05 of the Original Indenture.
ARTICLE III
SUNDRY PROVISIONS
Section 1. This Supplemental Indenture is executed and shall be construed as an indenture supplemental to the Original Indenture, and shall form a part thereof and all of the provisions contained in the Original Indenture in respect to the rights, privileges, immunities, powers and duties of the Trustee shall be applicable in respect hereof as fully and with like effect as if set forth herein in full.
Section 2. This Supplemental Indenture may be simultaneously executed in any number of counterparts, and all of said counterparts executed and delivered, each as an original, shall constitute but one and the same instrument.
Section 3. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or of the due execution hereof by the Company or for or in respect of the recitals contained herein, all of which recitals are made by the Company solely.
Section 4. Although this Supplemental Indenture is dated for convenience and for purposes of reference as of June 1, 2008, the actual dates of execution by the Company and by the Trustee are as indicated by the respective acknowledgments hereto annexed.

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IN WITNESS WHEREOF, FLORIDA POWER CORPORATION d/b/a PROGRESS ENERGY FLORIDA, INC. has caused this Supplemental Indenture to be signed in its name and behalf by its Executive Vice President, and its corporate seal to be hereunto affixed and attested by its Assistant Secretary, and THE BANK OF NEW YORK has caused this Supplemental Indenture to be signed and sealed in its name and behalf by a Vice President, and its corporate seal to be attested by a Vice President, all as of the day and year first above written.
         
  FLORIDA POWER CORPORATION
d/b/a PROGRESS ENERGY FLORIDA, INC.

 
 
  By:   /s/ Peter M. Scott III   
    Peter M. Scott III, Executive Vice President   
    299 First Avenue North
St. Petersburg, Florida 33701 
 
 
         
[SEAL]

Attest:
 
   
     
/s/ Arlene S. Graves    
Arlene S. Graves, Assistant Secretary
299 First Avenue North
St. Petersburg, Florida 33701 
   
 
         
Signed, sealed and delivered by said
FLORIDA POWER CORPORATION
d/b/a PROGRESS ENERGY FLORIDA, INC.


in the presence of:
 
   
/s/ N. Manly Johnson III      
N. Manly Johnson III     
 
/s/ Kenneth Long      
Kenneth Long     
     
 
[Company’s Signature Page of Forty-Eighth Supplemental Indenture]

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  THE BANK OF NEW YORK
 
 
  By:   /s/ L. O'Brien   
    L. O’Brien, Vice President   
[SEAL]    101 Barclay Street
New York, New York 10286 
 
 
Attest:
         
/s/ Francine Kincaid      
Francine Kincaid, Vice President     
101 Barclay Street
New York, New York 10286 
   
Signed, sealed and delivered by said
THE BANK OF NEW YORK
in the presence of:
         
/s/ Christopher Greene      
Christopher Greene     
 
/s/ Josip Antolos      
Josip Antolos     
     
 
[Trustee’s Signature Page of Forty-Eighth Supplemental Indenture]

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STATE OF NORTH CAROLINA
    )      
 
               SS:
COUNTY OF WAKE
    )      
Before me, the undersigned, a notary public in and for the State and County aforesaid, an officer duly authorized to take acknowledgments of deeds and other instruments, personally appeared Peter M. Scott III, Executive Vice President of FLORIDA POWER CORPORATION d/b/a PROGRESS ENERGY FLORIDA, INC. , a corporation, the corporate party of the first part in and to the above written instrument, and also personally appeared before me Arlene S. Graves, Assistant Secretary of the said corporation; such persons being severally personally known to me, who did take an oath and are known by me to be the same individuals who as such Executive Vice President and as such Assistant Secretary executed the above written instrument on behalf of said corporation; and he, the said Executive Vice President, acknowledged that as such Executive Vice President, he subscribed the said corporate name to said instrument on behalf and by authority of said corporation, and she, the said Assistant Secretary, acknowledged that she affixed the seal of said corporation to said instrument and attested the same by subscribing her name as Assistant Secretary of said corporation, by authority and on behalf of said corporation, and each of the two persons above named acknowledged that, being informed of the contents of said instrument, they, as such Executive Vice President and Assistant Secretary, delivered said instrument by authority and on behalf of said corporation and that all such acts were done freely and voluntarily and for the uses and purposes in said instrument set forth and that such instrument is the free act and deed of said corporation; and each of said persons further acknowledged and declared that he/she knows the seal of said corporation, and that the seal affixed to said instrument is the corporate seal of the corporation aforesaid.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal this 11th day of June, 2008 at Raleigh in the State and County aforesaid.
         
     
  /s/ Denise P. DeVivero    
  Denise P. DeVivero    
 
My commission expires: July 30, 2010
[NOTARIAL SEAL]

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STATE OF NEW YORK
    )      
 
               SS:
COUNTY OF NEW YORK
    )      
Before me, the undersigned, a notary public in and for the State of New York and County of Queens, an officer duly authorized to take acknowledgments of deeds and other instruments, personally appeared L. O’Brien, Vice President (the “Executing Vice President”) of THE BANK OF NEW YORK , a New York banking corporation, the corporate party of the second part in and to the above written instrument, and also personally appeared before me Francine Kincaid, Vice President (the “Attesting Vice President”) of the said corporation; said persons being severally personally known to me, who did take an oath and are known by me to be the same individuals who as such Executing Vice President and as such Attesting Vice President executed the above written instrument on behalf of said corporation; and he, the said Executing Vice President, acknowledged that as such Executing Vice President he subscribed the said corporate name to said instrument and affixed the seal of said corporation to said instrument on behalf and by authority of said corporation, and he, the said Attesting Vice President, acknowledged that he attested the same by subscribing his name as Vice President of said corporation, by authority and on behalf of said corporation, and each of the two persons above named acknowledged that, being informed of the contents of said instrument, they, as such Executing Vice President and Attesting Vice President, delivered said instrument by authority and on behalf of said corporation and that all such acts were done freely and voluntarily and for the uses and purposes in said instrument set forth and that such instrument is the free act and deed of said corporation, and each of said persons further acknowledged and declared that he/she knows the seal of said corporation, and that the seal affixed to said instrument is the corporate seal of the corporation aforesaid.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal this 11th day of June, 2008, at New York, in the State and County aforesaid.
         
     
  /s/ Carlos R. Luciano    
  Carlos R. Luciano   
  Notary Public, State of New York
No. 41-4765897
Qualified in Queens County 
 
 
My commission expires: April 30, 2010
[NOTARIAL SEAL]

31


 

EXHIBIT A
RECORDING INFORMATION
ORIGINAL INDENTURE dated January 1, 1944
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    02/25/44       121       172  
Bay
    10/20/47       59       18  
Brevard
    10/30/91       3157       3297  
Citrus
    02/25/44       18       1  
Columbia
    02/25/44       42       175  
Dixie
    02/25/44       3       127  
Flagler
    10/30/91       456       288  
Franklin
    02/25/44       0       83  
Gadsden
    02/26/44       A-6       175  
Gilchrist
    02/25/44       5       60  
Gulf
    02/26/44       6       193  
Hamilton
    02/25/44       42       69  
Hardee
    02/25/44       23       1  
Hernando
    02/25/44       90       1  
Highlands
    02/25/44       48       357  
Hillsborough
    02/25/44       662       105  
Jackson
    02/26/44       370       1  
Jefferson
    07/02/51       25       1  
Lafayette
    02/25/44       22       465  
Lake
    02/25/44       93       1  
Leon
    02/25/44       41       1  
Levy
    02/25/44       3       160  
Liberty
    02/25/44       “H”       116  
Madison
    07/02/51       61       86  
Marion
    02/25/44       103       1  
Orange
    02/25/44       297       375  
Osceola
    02/25/44       20       1  
Pasco
    02/25/44       39       449  
Pinellas
    02/26/44       566       1  
Polk
    02/25/44       666       305  
Seminole
    02/25/44       65       147  
Sumter
    02/25/44       25       1  
Suwanee
    02/25/44       58       425  
Taylor
    07/03/51       36       1  
Volusia
    02/25/44       135       156  
Wakulla
    02/25/44       14       1  
STATE OF GEORGIA
                         
County   Date of Recordation   Book   Page
 
                       
Cook
    02/25/44       24       1  
Echols
    02/25/44       A-1       300  
Lowndes
    02/25/44       5-0       1  

A-1


 

SUPPLEMENTAL INDENTURE (First) dated July 1, 1946
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    11/12/46       166       1  
Bay
    10/20/47       59       1  
Brevard
    10/30/91       3157       3590  
Citrus
    11/12/46       17       362  
Columbia
    11/12/46       49       283  
Dixie
    11/14/46       3       357  
Flagler
    10/30/91       456       579  
Franklin
    11/13/46       “P”       80  
Gadsden
    11/13/46       A-9       148  
Gilchrist
    11/14/46       7       120  
Gulf
    11/13/46       10       313  
Hamilton
    11/12/46       40       371  
Hardee
    11/12/46       24       575  
Hernando
    11/14/46       99       201  
Highlands
    11/12/46       55       303  
Hillsborough
    11/06/46       95       375  
Jackson
    11/13/46       399       1  
Jefferson
    07/02/51       25       287  
Lafayette
    11/14/46       23       156  
Lake
    11/13/46       107       209  
Leon
    11/13/46       55       481  
Levy
    11/14/46       4       133  
Liberty
    11/13/46       “H”       420  
Madison
    07/02/51       61       373  
Marion
    11/12/46       110       1  
Orange
    11/12/46       338       379  
Osceola
    11/12/46       20       164  
Pasco
    11/14/46       44       169  
Pinellas
    11/06/46       632       161  
Polk
    11/12/46       744       511  
Seminole
    11/13/46       74       431  
Sumter
    11/13/46       25       467  
Suwanee
    11/12/46       63       316  
Taylor
    07/03/51       36       145  
Volusia
    11/13/46       158       203  
Wakulla
    11/13/36       14       299  

A-2


 

SUPPLEMENTAL INDENTURE (Second) dated November 1, 1948
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    01/08/49       196       287  
Bay
    01/10/49       64       395  
Brevard
    10/30/91       3157       3607  
Citrus
    01/13/49       18       414  
Columbia
    01/08/49       55       493  
Dixie
    01/10/49       4       201  
Flagler
    10/30/91       456       601  
Franklin
    01/10/49       “Q”       1  
Gadsden
    01/10/49       A-13       157  
Gilchrist
    01/08/49       6       274  
Gulf
    01/10/49       13       74  
Hamilton
    01/10/49       44       1  
Hardee
    01/08/49       28       110  
Hernando
    01/08/49       109       448  
Highlands
    01/08/49       61       398  
Hillsborough
    01/13/49       810       452  
Jackson
    01/10/49       400       563  
Jefferson
    07/02/51       25       320  
Lafayette
    01/10/49       25       210  
Lake
    01/08/49       119       555  
Leon
    01/10/49       82       303  
Levy
    01/08/49       5       242  
Liberty
    01/08/49       “H”       587  
Madison
    07/02/51       61       407  
Marion
    01/11/49       122       172  
Orange
    01/08/49       388       604  
Osceola
    01/08/49       25       104  
Pasco
    01/08/49       47       549  
Pinellas
    01/05/49       716       11  
Polk
    01/07/49       807       411  
Seminole
    01/06/49       84       389  
Sumter
    01/08/49       28       41  
Suwanee
    01/08/49       69       150  
Taylor
    07/03/51       36       162  
Volusia
    01/06/49       192       167  
Wakulla
    01/10/49       16       1  

A-3


 

SUPPLEMENTAL INDENTURE (Third) dated July 1, 1951
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    08/02/51       234       340  
Bay
    08/03/51       93       155  
Brevard
    10/30/91       3157       3630  
Citrus
    07/30/51       20       251  
Columbia
    08/02/51       66       503  
Dixie
    08/02/51       5       271  
Flagler
    10/30/91       456       624  
Franklin
    08/03/51       “Q”       522  
Gadsden
    08/03/51       A-19       271  
Gilchrist
    08/02/51       7       422  
Gulf
    08/03/51       16       59  
Hamilton
    08/03/51       51       347  
Hardee
    08/02/51       32       1  
Hernando
    08/02/51       118       537  
Highlands
    08/02/51       69       344  
Hillsborough
    08/02/51       927       174  
Jefferson
    08/03/51       25       359  
Lafayette
    08/03/51       27       305  
Lake
    07/31/51       139       323  
Leon
    08/02/51       113       465  
Levy
    08/02/51       7       211  
Liberty
    07/25/51       1       232  
Madison
    08/07/51       62       1  
Marion
    08/02/51       142       143  
Orange
    08/07/51       460       60  
Osceola
    08/02/51       31       385  
Pasco
    08/10/51       56       1  
Pinellas
    08/02/51       847       301  
Polk
    08/01/51       899       539  
Seminole
    08/07/51       100       403  
Sumter
    08/02/51       32       345  
Suwanee
    08/02/51       76       413  
Taylor
    08/07/51       36       182  
Volusia
    08/07/51       245       393  
Wakulla
    08/03/51       17       259  
STATE OF GEORGIA
                         
County   Date of Recordation   Book   Page
 
                       
Cook
    08/08/51       35       566  
Echols
    08/02/51       A-3       521  
Lowndes
    08/04/51       7-E       188  

A-4


 

FOURTH SUPPLEMENTAL INDENTURE November 1, 1952
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    12/31/52       256       288  
Bay
    01/01/53       104       571  
Brevard
    10/30/91       3157       3663  
Citrus
    12/31/52       22       321  
Columbia
    12/31/52       72       521  
Dixie
    12/31/52       6       135  
Flagler
    10/31/91       456       657  
Franklin
    12/31/52       R       477  
Gadsden
    12/31/52       A-22       511  
Gilchrist
    12/31/52       9       124  
Gulf
    01/02/53       17       7  
Hamilton
    12/31/52       54       293  
Hardee
    12/31/52       33       433  
Hernando
    12/31/52       125       361  
Highlands
    01/02/53       74       131  
Hillsborough
    12/29/52       993       545  
Jefferson
    12/31/52       27       1  
Lafayette
    12/31/52       28       445  
Lake
    01/02/53       150       343  
Leon
    12/31/52       130       1  
Levy
    12/31/52       8       362  
Liberty
    01/09/53       1       462  
Madison
    01/02/53       65       134  
Marion
    01/02/53       153       434  
Orange
    12/31/52       505       358  
Osceola
    12/31/52       36       145  
Pasco
    01/02/53       61       563  
Pinellas
    12/29/52       926       561  
Polk
    01/12/53       974       177  
Seminole
    01/02/53       111       41  
Sumter
    12/31/52       35       441  
Suwanee
    01/02/53       82       27  
Taylor
    12/31/52       37       325  
Volusia
    01/10/53       278       107  
Wakulla
    01/02/53       18       383  
STATE OF GEORGIA
                         
County   Date of Recordation   Book   Page
 
                       
Cook
    01/01/53       39       95  
Echols
    01/01/53       A-4       110  
Lowndes
    12/31/52       7-0       540  

A-5


 

FIFTH SUPPLEMENTAL INDENTURE November 1, 1953
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    12/29/53       271       24  
Bay
    01/01/54       115       505  
Brevard
    10/30/91       3157       3690  
Citrus
    12/28/53       2       73  
Columbia
    12/28/53       7       3  
Dixie
    12/23/53       6       466  
Flagler
    10/30/91       456       684  
Franklin
    12/28/53       1       447  
Gadsden
    12/24/53       A-26       251  
Gilchrist
    12/23/53       9       317  
Gulf
    12/28/53       11       229  
Hamilton
    12/28/53       58       220  
Hardee
    12/23/53       35       518  
Hernando
    12/23/53       130       409  
Highlands
    12/29/53       78       1  
Hillsborough
    01/04/54       1050       229  
Jefferson
    12/29/53       28       91  
Lafayette
    12/24/53       30       16  
Lake
    12/23/53       160       189  
Leon
    12/23/53       144       268  
Levy
    12/23/53       9       368  
Liberty
    01/06/54       J       40  
Madison
    12/26/53       67       381  
Marion
    12/28/53       168       179  
Orange
    12/24/53       541       253  
Osceola
    12/24/53       39       42  
Pasco
    12/23/53       67       1  
Pinellas
    12/22/53       988       333  
Polk
    01/05/54       1021       473  
Seminole
    12/29/53       118       535  
Sumter
    12/28/53       37       466  
Suwanee
    12/28/53       85       346  
Taylor
    12/24/53       43       225  
Volusia
    12/24/53       303       454  
Wakulla
    12/30/53       19       380  
STATE OF GEORGIA
                         
County   Date of Recordation   Book   Page
 
                       
Cook
    01/15/54       39       437  
Echols
    01/15/54       A-4       418  
Lowndes
    12/29/53       7-X       235  

A-6


 

SIXTH SUPPLEMENTAL INDENTURE dated July 1, 1954
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    11/19/54       286       129  
Bay
    11/22/54       125       502  
Brevard
    10/30/91       3157       3719  
Citrus
    11/19/54       9       525  
Columbia
    11/20/54       17       479  
Dixie
    11/19/54       7       299  
Flagler
    10/30/91       456       713  
Franklin
    11/19/54       5       465  
Gadsden
    11/20/54       A-29       411  
Gilchrist
    11/19/54       9       530  
Gulf
    11/22/54       19       284  
Hamilton
    11/22/54       59       425  
Hardee
    11/19/54       37       307  
Hernando
    11/19/54       7       335  
Highlands
    11/19/54       82       403  
Hillsborough
    11/26/54       1116       164  
Jefferson
    11/19/54       29       17  
Lafayette
    11/19/54       31       138  
Lake
    11/19/54       170       225  
Leon
    11/19/54       159       209  
Levy
    11/19/54       10       523  
Liberty
    11/30/54       “J”       215  
Madison
    11/20/54       69       483  
Marion
    11/20/54       181       573  
Orange
    11/23/54       578       123  
Osceola
    11/20/54       42       216  
Pasco
    11/22/54       15       568  
Pinellas
    11/18/54       1046       507  
Polk
    11/23/54       1068       22  
Seminole
    11/19/54       28       374  
Sumter
    11/30/54       40       81  
Suwanee
    11/23/54       89       1  
Taylor
    11/20/54       45       377  
Volusia
    11/23/54       327       538  
Wakulla
    11/19/54       20       445  
STATE OF GEORGIA
                         
County   Date of Recordation   Book   Page
 
                       
Cook
    11/20/54       55       385  
Echols
    11/20/54       5       86  
Lowndes
    11/20/54       3       387  

A-7


 

SEVENTH SUPPLEMENTAL INDENTURE dated July 1, 1956
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    07/27/56       320       309  
Bay
    07/27/56       145       395  
Brevard
    10/30/91       3157       3746  
Citrus
    07/25/56       28       403  
Columbia
    07/26/56       38       279  
Dixie
    07/30/56       9       1  
Flagler
    10/30/91       456       740  
Franklin
    07/27/56       16       392  
Gadsden
    07/26/56       A-36       100  
Gilchrist
    07/31/56       11       289  
Gulf
    08/02/56       23       475  
Hamilton
    07/27/56       11       79  
Hardee
    07/31/56       43       1  
Hernando
    07/26/56       21       88  
Highlands
    07/31/56       11       571  
Hillsborough
    08/06/56       1260       125  
Jefferson
    07/25/56       30       295  
Lafayette
    07/25/56       33       117  
Lake
    07/26/56       189       613  
Leon
    07/25/56       190       301  
Levy
    07/30/56       14       13  
Liberty
    07/31/56       “J”       531  
Madison
    07/26/56       74       12  
Marion
    07/26/56       208       223  
Orange
    07/27/56       126       165  
Osceola
    07/26/56       49       1  
Pasco
    08/02/56       51       353  
Pinellas
    07/24/56       1168       481  
Polk
    08/20/56       1180       30  
Seminole
    07/27/56       90       5  
Sumter
    08/02/56       43       523  
Suwanee
    07/26/56       96       67  
Taylor
    07/25/56       52       451  
Volusia
    07/26/56       384       195  
Wakulla
    07/25/56       22       281  
STATE OF GEORGIA
                         
County   Date of Recordation   Book   Page
 
                       
Cook
    07/26/56       48       36  
Echols
    07/26/56       5       401  
Lowndes
    07/25/56       22       419  

A-8


 

EIGHTH SUPPLEMENTAL INDENTURE dated July 1, 1958
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    07/23/58       20       227  
Bay
    08/05/58       170       295  
Brevard
    10/30/91       3157       3785  
Citrus
    07/24/58       55       336  
Columbia
    07/23/58       66       365  
Dixie
    07/22/58       11       166  
Flagler
    10/30/91       456       779  
Franklin
    07/22/58       29       248  
Gadsden
    07/23/58       9       48  
Gilchrist
    07/22/58       12       341  
Gulf
    07/24/58       29       40  
Hamilton
    07/22/58       23       1  
Hardee
    07/22/58       49       451  
Hernando
    07/25/58       39       358  
Highlands
    07/29/58       50       514  
Hillsborough
    07/29/58       111       108  
Jefferson
    07/23/58       33       19  
Lafayette
    07/23/58       35       120  
Lake
    07/31/58       56       297  
Leon
    07/23/58       216       129  
Levy
    07/22/58       18       63  
Liberty
    07/24/58       “K”       413  
Madison
    07/23/58       78       310  
Marion
    07/29/58       237       447  
Orange
    07/23/58       403       300  
Osceola
    07/23/58       26       462  
Pasco
    07/25/58       96       455  
Pinellas
    07/24/58       381       683  
Polk
    07/24/58       165       452  
Seminole
    07/23/58       178       26  
Sumter
    08/01/58       5       66  
Suwanee
    07/23/58       102       360  
Taylor
    07/22/58       4       254  
Volusia
    07/23/58       129       244  
Wakulla
    07/25/58       24       375  

A-9


 

NINTH SUPPLEMENTAL INDENTURE dated October 1, 1960
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    11/23/60       119       158  
Bay
    11/25/60       28       411  
Brevard
    10/30/91       3157       3822  
Citrus
    12/01/60       93       370  
Columbia
    11/17/60       105       133  
Dixie
    11/16/60       13       331  
Flagler
    10/30/91       456       816  
Franklin
    11/17/60       49       375  
Gadsden
    11/17/60       29       655  
Gilchrist
    11/16/60       1       473  
Gulf
    11/21/60       5       409  
Hamilton
    11/18/60       37       171  
Hardee
    11/17/60       60       76  
Hernando
    11/16/60       65       688  
Highlands
    11/18/60       108       421  
Hillsborough
    11/23/60       629       675  
Jefferson
    11/18/60       8       290  
Lafayette
    11/16/60       38       185  
Lake
    11/21/60       141       619  
Leon
    11/23/60       254       479  
Levy
    11/16/60       23       537  
Liberty
    11/17/60       “M”       525  
Madison
    11/22/60       11       153  
Marion
    11/18/60       54       420  
Orange
    11/22/60       817       569  
Osceola
    11/16/60       68       410  
Pasco
    11/21/60       158       530  
Pinellas
    11/16/60       1036       239  
Polk
    11/18/60       440       179  
Seminole
    11/21/60       332       203  
Sumter
    11/30/60       25       318  
Suwanee
    11/17/60       111       282  
Taylor
    11/18/60       21       626  
Volusia
    11/21/60       330       281  
Wakulla
    11/21/60       28       185  

A-10


 

TENTH SUPPLEMENTAL INDENTURE dated May 1, 1962
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    06/07/62       188       123  
Bay
    06/15/62       70       173  
Brevard
    10/30/91       3157       3858  
Citrus
    06/08/62       120       221  
Columbia
    06/05/62       130       187  
Dixie
    06/05/62       15       36  
Flagler
    10/30/91       456       852  
Franklin
    06/06/62       58       333  
Gadsden
    06/05/62       45       493  
Gilchrist
    06/05/62       7       261  
Gulf
    06/06/62       14       147  
Hamilton
    06/05/62       46       407  
Hardee
    06/05/62       16       449  
Hernando
    06/05/62       82       326  
Highlands
    06/11/62       148       617  
Hillsborough
    0611/62       949       738  
Jefferson
    06/05/62       13       606  
Lafayette
    06/08/62       39       385  
Lake
    06/06/62       204       1  
Leon
    06/11/62       48       49  
Levy
    06/05/62       27       574  
Liberty
    06/06/62       0       214  
Madison
    06/05/62       20       76  
Marion
    06/15/62       112       412  
Orange
    06/06/62       1060       464  
Osceola
    06/05/62       90       389  
Pasco
    06/08/62       202       457  
Pinellas
    06/01/62       1438       571  
Polk
    06/14/62       605       696  
Seminole
    06/13/62       408       102  
Sumter
    06/13/62       40       85  
Suwanee
    06/05/62       116       273  
Taylor
    06/05/62       34       330  
Volusia
    06/20/62       456       46  
Wakulla
    06/11/62       31       349  

A-11


 

ELEVENTH SUPPLEMENTAL INDENTURE dated April 1, 1965
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    05/21/65       324       610  
Bay
    05/28/65       158       231  
Brevard
    10/30/91       3157       3894  
Citrus
    05/13/65       179       485  
Columbia
    05/17/65       184       314  
Dixie
    05/13/65       6       485  
Flagler
    10/30/91       456       888  
Franklin
    05/19/65       72       497  
Gadsden
    05/18/65       73       410  
Gilchrist
    05/13/65       17       11  
Gulf
    05/18/65       24       717  
Hamilton
    05/13/65       63       327  
Hardee
    05/13/65       47       377  
Hernando
    05/13/65       112       236  
Highlands
    05/21/65       232       421  
Hillsborough
    05/12/65       1448       57  
Jefferson
    05/14/65       23       198  
Lafayette
    05/13/65       1       687  
Lake
    05/19/65       287       74  
Leon
    05/21/65       178       48  
Levy
    05/21/65       34       519  
Liberty
    05/14/65       6       1  
Madison
    05/14/65       34       399  
Marion
    05/24/65       228       528  
Orange
    05/25/65       1445       830  
Osceola
    05/18/65       132       351  
Pasco
    05/13/65       291       437  
Pinellas
    05/12/65       2154       77  
Polk
    05/17/65       929       371  
Seminole
    05/19/65       535       241  
Sumter
    05/14/65       68       83  
Suwanee
    05/17/65       24       673  
Taylor
    05/17/65       56       129  
Volusia
    05/19/65       708       531  
Wakulla
    05/17/65       8       6  

A-12


 

TWELFTH SUPPLEMENTAL INDENTURE dated November 1, 1965
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    12/10/65       355       229  
Bay
    12/20/65       174       619  
Brevard
    10/30/91       3157       3931  
Citrus
    12/22/65       192       309  
Columbia
    12/10/65       194       338  
Dixie
    12/10/65       9       42  
Flagler
    10/30/91       456       925  
Franklin
    12/13/65       76       249  
Gadsden
    12/10/65       78       606  
Gilchrist
    12/10/65       19       447  
Gulf
    12/10/65       26       692  
Hamilton
    12/10/65       66       303  
Hardee
    12/10/65       53       426  
Hernando
    12/13/65       118       441  
Highlands
    12/20/65       248       20  
Hillsborough
    12/17/65       1548       603  
Jefferson
    12/10/65       24       595  
Lafayette
    12/10/65       2       671  
Lake
    12/20/65       301       528  
Leon
    12/20/65       205       170  
Levy
    12/20/65       36       184  
Liberty
    12/10/65       6       477  
Madison
    12/11/65       36       806  
Marion
    12/27/65       254       153  
Orange
    12/10/65       1499       785  
Osceola
    12/10/65       140       445  
Pasco
    12/13/65       312       19  
Pinellas
    12/09/65       2283       186  
Polk
    12/20/65       984       641  
Seminole
    12/22/65       559       591  
Sumter
    12/14/65       73       283  
Suwanee
    12/14/65       30       218  
Taylor
    12/10/65       59       361  
Volusia
    12/10/65       755       174  
Wakulla
    12/20/65       9       390  

A-13


 

THIRTEENTH SUPPLEMENTAL INDENTURE dated August 1, 1967
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    08/22/67       458       347  
Bay
    08/28/67       223       457  
Brevard
    10/30/91       3157       3964  
Citrus
    08/28/67       218       756  
Columbia
    08/22/67       225       304  
Dixie
    08/22/67       15       367  
Flagler
    10/30/91       456       962  
Franklin
    08/28/67       83       556  
Gadsden
    08/23/67       96       29  
Gilchrist
    08/22/67       25       131  
Gulf
    08/22/67       33       618  
Hamilton
    08/23/67       76       465  
Hardee
    08/22/67       71       366  
Hernando
    08/28/67       137       646  
Highlands
    08/30/67       288       585  
Hillsborough
    08/28/67       1795       635  
Jefferson
    08/23/67       30       662  
Lafayette
    08/22/67       5       694  
Lake
    08/25/67       342       196  
Leon
    08/30/67       280       594  
Levy
    08/28/67       41       262  
Liberty
    08/23/67       10       90  
Madison
    08/23/67       44       606  
Marion
    09/01/67       324       444  
Orange
    08/24/67       1660       421  
Osceola
    08/22/67       164       335  
Pasco
    08/28/67       370       728  
Pinellas
    08/21/67       2659       498  
Polk
    09/06/67       1108       900  
Seminole
    08/31/67       628       506  
Sumter
    09/06/67       87       602  
Suwanee
    08/23/67       47       228  
Taylor
    08/24/67       67       782  
Volusia
    08/24/67       964       254  
Wakulla
    08/31/67       14       755  

A-14


 

FOURTEENTH SUPPLEMENTAL INDENTURE dated November 1, 1968
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    12/06/68       543       198  
Bay
    12/18/68       262       487  
Brevard
    10/30/91       3157       3984  
Citrus
    12/09/68       239       487  
Columbia
    12/09/68       242       397  
Dixie
    12/09/68       20       109  
Flagler
    10/30/91       456       983  
Franklin
    12/06/68       88       538  
Gadsden
    12/12/68       110       7  
Gilchrist
    12/06/68       29       281  
Gulf
    12/09/68       38       359  
Hamilton
    12/06/68       82       245  
Hardee
    12/06/68       83       221  
Hernando
    12/09/68       164       395  
Highlands
    12/11/68       319       390  
Hillsborough
    12/19/68       1977       890  
Jefferson
    12/09/68       35       32  
Lafayette
    12/06/68       9       170  
Lake
    12/06/68       371       438  
Leon
    12/19/68       342       572  
Levy
    12/09/68       44       215  
Liberty
    12/09/68       12       41  
Madison
    12/09/68       49       627  
Marion
    12/20/68       375       12  
Orange
    12/06/68       1785       837  
Osceola
    12/06/68       183       688  
Pasco
    12/06/68       423       607  
Pinellas
    12/06/68       2964       580  
Polk
    12/10/68       1193       854  
Seminole
    12/18/68       695       638  
Sumter
    01/02/69       98       509  
Suwanee
    12/06/68       60       50  
Taylor
    12/09/68       73       494  
Volusia
    12/09/68       1060       466  
Wakulla
    12/19/68       18       593  

A-15


 

FIFTEENTH SUPPLEMENTAL INDENTURE dated August 1, 1969
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    08/26/69       592       206  
Bay
    09/03/69       283       513  
Brevard
    10/30/91       3157       4002  
Citrus
    08/26/69       251       437  
Columbia
    09/05/69       251       586  
Dixie
    08/26/69       21       705  
Flagler
    10/30/91       456       1001  
Franklin
    08/26/69       92       363  
Gadsden
    08/26/69       116       723  
Gilchrist
    09/04/69       31       539  
Gulf
    08/26/69       41       23  
Hamilton
    08/26/69       85       292  
Hardee
    08/26/69       91       19  
Hernando
    09/03/69       191       745  
Highlands
    09/05/69       339       90  
Hillsborough
    09/03/69       2073       501  
Jefferson
    08/26/69       37       193  
Lafayette
    08/26/69       12       235  
Lake
    09/11/69       389       148  
Leon
    09/05/69       377       548  
Levy
    08/26/69       6       348  
Liberty
    08/29/69       12       680  
Madison
    08/26/69       52       263  
Marion
    09/08/69       399       668  
Orange
    08/27/69       1867       156  
Osceola
    09/03/69       192       726  
Pasco
    08/26/69       459       315  
Pinellas
    08/26/69       3149       131  
Polk
    09/04/69       1241       971  
Seminole
    09/05/69       740       500  
Sumter
    09/05/69       104       504  
Suwanee
    08/26/69       66       489  
Taylor
    08/26/69       77       44  
Volusia
    08/26/69       1123       577  
Wakulla
    09/05/69       21       231  

A-16


 

SIXTEENTH SUPPLEMENTAL INDENTURE dated February 1, 1970
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    03/13/70       625       297  
Bay
    03/23/70       298       539  
Brevard
    10/30/91       3157       4019  
Citrus
    03/16/70       261       729  
Columbia
    03/13/70       257       622  
Dixie
    03/13/70       23       107  
Flagler
    10/30/91       456       1019  
Franklin
    03/13/70       94       507  
Gadsden
    03/13/70       121       571  
Gilchrist
    03/20/70       33       449  
Gulf
    03/16/70       43       244  
Hamilton
    03/14/70       87       291  
Hardee
    03/16/70       97       225  
Hernando
    03/20/70       212       536  
Highlands
    03/20/70       352       25  
Hillsborough
    03/20/70       2146       824  
Jefferson
    03/13/70       38       643  
Lafayette
    03/16/70       14       42  
Lake
    03/13/70       400       545  
Leon
    04/02/70       406       203  
Levy
    03/20/70       11       150  
Liberty
    03/13/70       13       494  
Madison
    03/13/70       54       152  
Marion
    03/20/70       419       113  
Orange
    03/20/70       1927       853  
Osceola
    03/13/70       199       282  
Pasco
    03/13/70       487       207  
Pinellas
    03/23/70       3294       582  
Polk
    03/27/70       1278       4  
Seminole
    03/20/70       771       384  
Sumter
    03/27/70       109       1  
Suwanee
    03/13/70       71       61  
Taylor
    03/16/70       79       282  
Volusia
    03/13/70       1183       353  
Wakulla
    03/24/70       23       36  

A-17


 

SEVENTEENTH SUPPLEMENTAL INDENTURE dated November 1, 1970
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
                         
Alachua
    12/15/70       678       70  
 
    01/08/71       682       405B  
Bay
    01/11/71       321       565  
Brevard
    10/30/91       3157       4030  
Citrus
    01/07/71       277       324  
Columbia
    12/16/70       266       25  
 
    01/07/71       266       351  
Dixie
    01/07/71       25       246  
Flagler
    10/30/91       456       1030  
Franklin
    12/15/70       98       171  
 
    01/18/71       98       472  
Gadsden
    01/07/71       128       705  
Gilchrist
    01/13/71       36       5  
Gulf
    12/16/70       46       132  
Hamilton
    12/16/70       90       201  
 
    01/08/71       90       325  
Hardee
    12/16/70       106       109  
 
    01/07/71       107       15  
Hernando
    12/16/70       246       299  
 
    01/13/71       252       715  
Highlands
    01/11/71       372       79  
Hillsborough
    01/11/71       2261       308  
Jefferson
    12/16/70       41       467  
Lafayette
    01/06/71       16       144  
Lake
    01/12/71       421       742  
Leon
    01/14/71       449       244  
Levy
    01/11/71       18       65  
Liberty
    12/16/70       14       535  
Madison
    01/07/71       56       911  
Marion
    01/11/71       449       33  
Orange
    01/11/71       2021       24  
Osceola
    01/29/71       212       353  
Pasco
    01/08/71       524       86  
Pinellas
    01/14/71       3467       449  
Polk
    01/14/71       1331       880  
Seminole
    01/11/71       819       223  
Sumter
    01/11/71       115       308  
Suwanee
    12/17/70       77       82  
Taylor
    12/17/70       83       53  
Volusia
    01/11/71       1257       142  
Wakulla
    01/12/71       26       175  

A-18


 

EIGHTEENTH SUPPLEMENTAL INDENTURE dated October 1, 1971
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    11/17/71       755       116  
Bay
    11/09/71       351       33  
Brevard
    10/30/91       3157       4062  
Citrus
    11/16/71       296       490  
Columbia
    11/15/71       278       597  
Dixie
    11/09/71       31       23  
Flagler
    10/30/91       456       1062  
Franklin
    11/09/71       103       278  
Gadsden
    11/10/71       138       360  
Gilchrist
    11/16/71       39       92  
Gulf
    11/11/71       49       107  
Hamilton
    11/09/71       93       538  
Hardee
    11/09/71       119       63  
Hernando
    11/17/71       280       1  
Highlands
    11/16/71       393       578  
Hillsborough
    11/17/71       2393       263  
Jefferson
    11/11/71       45       135  
Lafayette
    11/09/71       19       91  
Lake
    11/16/71       447       834  
Leon
    11/12/71       496       190  
Levy
    11/16/71       26       748  
Liberty
    11/10/71       16       108  
Madison
    11/11/71       61       220  
Marion
    11/16/71       487       239  
Orange
    11/18/71       2144       179  
Osceola
    11/10/71       229       360  
Pasco
    11/12/71       569       344  
Pinellas
    11/09/71       3659       630  
Polk
    11/16/71       1400       1  
Seminole
    11/16/71       892       460  
Sumter
    11/09/71       123       457  
Suwanee
    11/12/71       86       28  
Taylor
    11/09/71       87       706  
Volusia
    11/09/71       1352       118  
Wakulla
    11/16/71       30       218  

A-19


 

NINETEENTH SUPPLEMENTAL INDENTURE dated June 1, 1971
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    07/31/72       797       81  
Bay
    07/31/72       378       483  
Brevard
    10/30/91       3157       4079  
Citrus
    08/01/72       314       557  
Columbia
    07/31/72       290       418  
Dixie
    07/31/72       35       44  
Flagler
    10/30/91       456       1079  
Franklin
    07/31/72       107       442  
Gadsden
    07/31/72       147       296  
Gilchrist
    07/31/72       41       148  
Gulf
    07/31/72       51       371  
Hamilton
    07/31/72       96       573  
Hardee
    07/31/72       130       35  
Hernando
    07/31/72       295       702  
Highlands
    07/31/72       409       578  
Hillsborough
    07/31/72       2518       15  
Jefferson
    07/31/72       48       389  
Lafayette
    08/04/72       22       70  
Lake
    08/02/72       474       134  
Leon
    08/02/72       537       763  
Levy
    08/02/72       35       5  
Liberty
    08/03/72       17       319  
Madison
    08/03/72       65       120  
Marion
    08/02/72       521       427  
Orange
    08/03/72       2259       950  
Osceola
    08/02/72       245       626  
Pasco
    08/03/72       619       487  
Pinellas
    08/02/72       3846       454  
Polk
    08/02/72       1467       276  
Seminole
    08/03/72       948       1035  
Sumter
    08/02/72       131       348  
Suwanee
    08/02/72       93       785  
Taylor
    08/03/72       92       198  
Volusia
    08/02/72       1456       420  
Wakulla
    08/03/72       33       147  

A-20


 

TWENTIETH SUPPLEMENTAL INDENTURE dated November 1, 1972
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    01/22/73       818       709  
Bay
    01/22/73       400       226  
Brevard
    10/30/91       3157       4096  
Citrus
    01/22/73d       328       152  
Columbia
    01/22/73       298       244  
Dixie
    01/22/73       38       92  
Flagler
    10/30/91       456       1096  
Franklin
    01/22/73       110       446  
Gadsden
    01/22/73       154       117  
Gilchrist
    01/2273       42       685  
Gulf
    01/22/73       52       813  
Hamilton
    01/22/73       99       270  
Hardee
    01/22/73       138       88  
Herdando
    01/22/73       306       325  
Highlands
    01/22/73       422       5  
Hillsborough
    01/22/73       2612       659  
Jefferson
    01/23/73       50       632  
Lafayette
    01/22/73       23       338  
Lake
    01/22/73       492       696  
Leon
    01/25/73       567       238  
Levy
    01/22/73       40       755  
Liberty
    01/23/73       18       51  
Madison
    01/23/73       67       413  
Marion
    01/22/73       546       125  
Orange
    01/22/73       2345       569  
Osceola
    01/24/73       256       564  
Pasco
    01/22/73       654       281  
Pinellas
    01/23/73       3980       788  
Polk
    01/24/73       1514       854  
Seminole
    01/22/73       136       696  
Sumter
    01/22/73       136       696  
Suwanee
    01/22/73       98       583  
Taylor
    01/22/73       95       99  
Volusia
    01/22/73       1533       327  
Wakulla
    01/26/73       35       266  

A-21


 

TWENTY-FIRST SUPPLEMENTAL INDENTURE dated June 1, 1973
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    08/30/73       850       668  
Bay
    08/30/73       431       401  
Brevard
    10/30/91       3157       4126  
Citrus
    08/31/73       349       609  
Columbia
    08/30/73       309       245  
Dixie
    08/30/73       41       473  
Flagler
    10/30/91       456       1126  
Franklin
    08/31/73       115       120  
Gadsden
    08/31/73       164       90  
Gilchrist
    08/31/73       45       387  
Gulf
    09/04/73       54       736  
Hamilton
    09/04/73       104       250  
Hardee
    08/31/73       149       295  
Herdando
    08/31/73       321       479  
Highlands
    08/31/73       442       961  
Hillsborough
    08/31/73       2740       278  
Jefferson
    08/31/73       54       591  
Lafayette
    09/07/73       26       73  
Lake
    08/31/73       520       70  
Leon
    09/06/73       609       543  
Levy
    09/05/73       50       741  
Liberty
    08/31/73       19       111  
Madison
    08/31/73       71       22  
Marion
    09/04/73       585       491  
Orange
    09/07/73       2448       1009  
Osceola
    09/06/73       272       204  
Pasco
    09/04/73       707       613  
Pinellas
    08/31/73       4073       767  
Polk
    08/31/73       1550       1341  
Seminole
    09/04/73       993       0048  
Sumter
    08/31/73       144       265  
Suwanee
    09/04/73       106       192  
Taylor
    08/31/73       99       444  
Volusia
    08/31/73       1647       440  
Wakulla
    08/31/73       38       458  

A-22


 

TWENTY-SECOND SUPPLEMENTAL INDENTURE dated December 1, 1973
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    02/28/74       876       74  
Bay
    02/28/74       457       572  
Brevard
    10/30/91       3157       4155  
Citrus
    03/18/74       365       200  
Columbia
    03/01/74       319       179  
Dixie
    02/28/74       44       149  
Flagler
    10/30/91       456       1155  
Franklin
    03/01/74       119       14  
Gadsden
    03/01/74       171       264  
Gilchrist
    02/28/74       48       25  
Gulf
    03/01/74       56       427  
Hamilton
    03/01/74       109       89  
Hardee
    02/28/74       158       140  
Herdando
    02/28/74       333       455  
Highlands
    02/28/74       458       394  
Hillsborough
    02/28/74       2842       642  
Jefferson
    03/01/74       58       5  
Lafayette
    03/01/74       28       34  
Lake
    03/04/74       540       77  
Leon
    03/01/74       638       672  
Levy
    02/28/74       57       769  
Liberty
    03/01/74       20       54  
Madison
    03/01/74       73       545  
Marion
    02/28/74       617       19  
Orange
    02/28/74       2504       1707  
Osceola
    03/01/74       284       344  
Pasco
    03/01/74       739       1360  
Pinellas
    02/28/74       4141       1397  
Polk
    02/28/74       1578       1983  
Seminole
    03/04/74       1010       1601  
Sumter
    03/01/74       150       278  
Suwanee
    03/04/74       111       766  
Taylor
    03/04/74       102       694  
Volusia
    03/04/74       1712       645  
Wakulla
    03/05/74       40       626  

A-23


 

TWENTY-THIRD SUPPLEMENTAL INDENTURE dated October 1, 1976
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    11/29/76       1035       716  
Bay
    11/29/76       600       687  
Brevard
    10/30/91       3157       4184  
Citrus
    12/08/76       448       668  
Columbia
    12/03/76       370       898  
Dixie
    11/29/76       56       160  
Flagler
    10/30/91       456       1184  
Franklin
    11/29/76       136       420  
Gadsden
    12/06/76       219       533  
Gilchrist
    11/30/76       62       464  
Gulf
    11/30/76       68       753  
Hamilton
    11/30/76       131       855  
Hardee
    11/29/76       212       10  
Herdando
    12/03/76       397       623  
Highlands
    11/29/76       535       951  
Hillsborough
    11/29/76       3181       1281  
Jefferson
    11/29/76       75       198  
Lafayette
    11/29/76       36       422  
Lake
    12/06/76       620       66  
Leon
    11/30/76       823       723  
Levy
    11/29/76       98       32  
Liberty
    11/29/76       25       104  
Madison
    12/06/76       89       124  
Marion
    12/08/76       779       258  
Orange
    12/06/76       2745       889  
Osceola
    11/30/76       345       524  
Pasco
    12/03/76       867       1165  
Pinellas
    12/03/76       4484       1651  
Polk
    11/29/76       1720       2000  
Seminole
    12/06/76       1105       1137  
Sumter
    11/30/76       181       97  
Suwanee
    11/29/76       146       437  
Taylor
    11/30/76       123       111  
Volusia
    12/06/76       1872       1438  
Wakulla
    12/07/76       53       837  

A-24


 

TWENTY-FOURTH SUPPLEMENTAL INDENTURE dated April 1, 1979
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    06/11/79       1212       956  
Bay
    06/12/79       734       343  
Brevard
    10/30/91       3157       4212  
Citrus
    06/12/79       538       1687  
Columbia
    06/14/79       429       139  
Dixie
    06/12/79       68       122  
Flagler
    10/30/91       456       1212  
Franklin
    06/13/79       159       186  
Gadsden
    06/13/79       259       396  
Gilchrist
    06/12/79       77       260  
Gulf
    06/14/79       78       174  
Hamilton
    06/12/79       142       859  
Hardee
    06/12/79       245       558  
Herdando
    06/12/79       443       17  
Highlands
    06/13/79       620       77  
Hillsborough
    06/12/79       3523       1162  
Jefferson
    06/13/79       93       685  
Lafayette
    06/13/79       44       496  
Lake
    06/12/79       678       266  
Leon
    06/15/79       931       526  
Levy
    06/12/79       141       163  
Liberty
    06/13/79       30       394  
Madison
    06/13/79       108       655  
Marion
    06/13/79       976       451  
Orange
    06/13/79       3018       812  
Osceola
    06/12/79       438       115  
Pasco
    06/14/79       1013       126  
Pinellas
    06/12/79       4867       291  
Polk
    06/12/79       1881       2012  
Seminole
    06/12/79       1228       606  
Sumter
    06/12/79       216       642  
Suwanee
    06/12/79       184       514  
Taylor
    06/13/79       145       686  
Volusia
    06/12/79       2082       1430  
Wakulla
    06/13/79       69       884  

A-25


 

TWENTY-FIFTH SUPPLEMENTAL INDENTURE dated April 1, 1980
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    07/25/80       1290       319  
Bay
    07/25/80       794       596  
Brevard
    10/30/91       3157       4238  
Citrus
    07/28/80       560       2030  
Columbia
    07/24/80       451       126  
Dixie
    07/24/80       73       220  
Flagler
    10/30/91       456       1238  
Franklin
    07/28/80       169       589  
Gadsden
    07/25/80       275       649  
Gilchrist
    07/24/80       84       551  
Gulf
    07/28/80       82       290  
Hamilton
    07/25/80       148       774  
Hardee
    07/25/80       257       823  
Herdando
    07/24/80       465       441  
Highlands
    07/29/80       658       523  
Hillsborough
    07/24/80       3684       411  
Jefferson
    07/25/80       101       387  
Lafayette
    07/24/80       47       586  
Lake
    07/24/80       705       977  
Leon
    07/25/80       966       426  
Levy
    07/25/80       161       478  
Liberty
    07/25/80       32       981  
Madison
    07/28/80       117       572  
Marion
    07/28/80       1027       1141  
Orange
    07/25/80       3127       1401  
Osceola
    07/30/80       489       198  
Pasco
    07/25/80       1077       1362  
Pinellas
    06/24/80       5038       2013  
Polk
    07/25/80       1956       1808  
Seminole
    07/28/80       1288       1105  
Sumter
    07/25/80       233       598  
Suwanee
    07/29/80       200       618  
Taylor
    07/28/80       156       740  
Volusia
    07/25/80       2185       587  
Wakulla
    07/28/80       76       879  

A-26


 

TWENTY-SIXTH SUPPLEMENTAL INDENTURE dated November 1, 1980
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    01/27/81       1326       527  
Bay
    01/26/81       823       570  
Brevard
    10/30/91       3157       4267  
Citrus
    01/28/81       570       1391  
Columbia
    01/27/81       461       435  
Dixie
    01/23/81       75       785  
Flagler
    10/30/91       456       1267  
Franklin
    01/27/81       174       320  
Gadsden
    01/26/81       282       356  
Gilchrist
    01/23/81       87       484  
Gulf
    01/26/81       84       307  
Hamilton
    01/26/81       151       44  
Hardee
    01/27/81       264       214  
Herdando
    01/26/81       476       916  
Highlands
    01/26/81       676       12  
Hillsborough
    01/26/81       3760       1223  
Jefferson
    01/26/81       104       658  
Lafayette
    01/27/81       49       175  
Lake
    01/27/81       717       2439  
Leon
    01/30/81       983       1982  
Levy
    01/26/81       169       716  
Liberty
    01/26/81       33       875  
Madison
    01/27/81       121       535  
Marion
    01/26/81       1051       47  
Orange
    01/26/81       3167       2388  
Osceola
    01/28/81       512       78  
Pasco
    01/26/81       1108       1247  
Pinellas
    12/31/80       5128       1781  
Polk
    01/27/81       1994       436  
Seminole
    01/27/81       1317       775  
Sumter
    01/26/81       241       211  
Suwanee
    01/27/81       209       696  
Taylor
    01/26/81       161       461  
Volusia
    01/26/81       2236       1396  
Wakulla
    01/26/81       79       837  

A-27


 

TWENTY-SEVENTH SUPPLEMENTAL INDENTURE dated November 15, 1980
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    02/10/81       1328       880  
Bay
    02/10/81       825       667  
Brevard
    10/30/91       3157       4295  
Citrus
    02/13/81       571       1236  
Columbia
    02/09/81       462       275  
Dixie
    02/09/81       76       147  
Flagler
    10/30/91       456       1295  
Franklin
    02/11/81       174       590  
Gadsden
    02/11/81       283       105  
Gilchrist
    02/13/81       88       100  
Gulf
    02/17/81       84       561  
Hamilton
    02/11/81       151       256  
Hardee
    02/11/81       264       618  
Herdando
    02/10/81       477       904  
Highlands
    02/11/81       677       519  
Hillsborough
    02/10/81       3766       35  
Jefferson
    02/12/81       105       318  
Lafayette
    02/10/81       49       299  
Lake
    02/10/81       718       2428  
Leon
    02/18/81       985       1655  
Levy
    02/12/81       170       567  
Liberty
    02/12/81       34       94  
Madison
    02/11/81       122       47  
Marion
    02/10/81       1052       1660  
Orange
    02/11/81       3171       1797  
Osceola
    02/13/81       514       336  
Pasco
    02/10/81       1111       307  
Pinellas
    02/10/81       5147       951  
Polk
    02/11/81       1997       527  
Seminole
    02/11/81       1319       1660  
Sumter
    02/11/81       241       746  
Suwanee
    02/11/81       210       652  
Taylor
    02/11/81       161       793  
Volusia
    02/10/81       2241       333  
Wakulla
    02/11/81       80       188  

A-28


 

TWENTY-EIGHTH SUPPLEMENTAL INDENTURE dated May 1, 1981
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    06/08/81       1351       161  
Bay
    07/20/81       853       623  
Brevard
    10/30/91       3157       4321  
Citrus
    06/08/81       578       919  
Columbia
    06/08/81       469       507  
Dixie
    06/09/81       78       172  
Flagler
    10/30/91       456       1321  
Franklin
    06/10/81       178       166  
Gadsden
    06/08/81       286       1847  
Gilchrist
    06/05/81       90       526  
Gulf
    06/09/81       85       881  
Hamilton
    06/08/81       152       776  
Hardee
    06/05/81       267       797  
Herdando
    06/05/81       484       1645  
Highlands
    06/05/81       689       338  
Hillsborough
    06/05/81       3814       700  
Jefferson
    06/09/81       107       352  
Lafayette
    06/05/81       50       758  
Lake
    06/08/81       727       209  
Leon
    06/08/81       996       1780  
Levy
    06/08/81       176       81  
Liberty
    06/12/81       34       859  
Madison
    06/08/81       125       615  
Marion
    06/05/81       1068       1824  
Orange
    06/08/81       3199       783  
Osceola
    06/09/81       532       1  
Pasco
    06/05/81       1132       1007  
Pinellas
    06/05/81       5201       1902  
Polk
    06/12/81       2022       642  
Seminole
    06/08/81       1340       894  
Sumter
    06/05/81       246       210  
Suwanee
    06/05/81       217       153  
Taylor
    06/09/81       165       536  
Volusia
    06/05/81       2272       1296  
Wakulla
    06/08/81       82       500  

A-29


 

TWENTY-NINTH SUPPLEMENTAL INDENTURE dated September 1, 1982
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    10/06/82       1440       284  
Bay
    10/08/82       912       523  
Brevard
    10/30/91       3157       4348  
Citrus
    10/07/82       604       1403  
Columbia
    10/06/82       498       260  
Dixie
    10/07/82       85       2  
Flagler
    10/30/91       456       1348  
Franklin
    10/11/82       191       239  
Gadsden
    10/08/82       297       266  
Gilchrist
    10/07/82       98       657  
Gulf
    10/07/82       91       125  
Hamilton
    10/06/82       159       396  
Hardee
    10/07/82       281       339  
Herdando
    10/06/82       510       1386  
Highlands
    10/08/82       733       571  
Hillsborough
    10/06/82       4009       985  
Jefferson
    10/08/82       115       766  
Lafayette
    10/06/82       55       163  
Lake
    10/08/82       759       836  
Leon
    10/07/82       1041       20  
Levy
    10/06/82       198       511  
Liberty
    10/07/82       38       218  
Madison
    10/07/82       136       685  
Marion
    10/06/82       1128       717  
Orange
    10/07/82       3316       738  
Osceola
    10/11/82       606       68  
Pasco
    10/06/82       1212       1279  
Pinellas
    10/07/82       5411       1407  
Polk
    10/07/82       2110       93  
Seminole
    10/06/82       1416       535  
Sumter
    10/06/82       263       631  
Suwanee
    10/06/82       238       524  
Taylor
    10/07/82       178       879  
Volusia
    10/06/82       2391       1879  
Wakulla
    10/07/82       91       306  

A-30


 

THIRTIETH SUPPLEMENTAL INDENTURE dated October 1, 1982
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    12/02/82       1450       90  
Bay
    12/06/82       916       1538  
Brevard
    10/30/91       3157       4364  
Citrus
    12/03/82       607       1034  
Columbia
    12/06/82       501       729  
Dixie
    12/06/82       86       49  
Flagler
    10/30/91       456       1364  
Franklin
    12/07/82       192       448  
Gadsden
    12/06/82       298       608  
Gilchrist
    12/03/82       100       18  
Gulf
    12/07/82       91       744  
Hamilton
    12/06/82       160       118  
Hardee
    12/08/82       283       11  
Herdando
    12/03/82       513       992  
Highlands
    12/07/82       738       221  
Hillsborough
    12/03/82       4033       293  
Jefferson
    12/06/82       117       9  
Lafayette
    12/06/82       55       444  
Lake
    12/03/82       763       19  
Leon
    12/07/82       1047       812  
Levy
    12/06/82       201       136  
Liberty
    12/08/82       38       547  
Madison
    12/07/82       137       808  
Marion
    12/07/82       1135       1015  
Orange
    12/06/82       3330       2301  
Osceola
    12/09/82       615       721  
Pasco
    12/06/82       1222       1592  
Pinellas
    11/23/82       5434       229  
Polk
    12/08/82       2121       118  
Seminole
    12/06/82       1425       1476  
Sumter
    12/06/82       265       768  
Suwanee
    12/07/82       240       699  
Taylor
    12/06/82       180       189  
Volusia
    12/06/82       2406       460  
Wakulla
    12/06/82       92       272  

A-31


 

THIRTY-FIRST SUPPLEMENTAL INDENTURE dated November 1, 1991
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    12/05/91       1836       2215  
Bay
    12/04/91       1347       1335  
Brevard
    12/05/91       3165       1204  
Citrus
    12/04/91       917       725  
Columbia
    12/04/91       753       1847  
Dixie
    12/09/91       156       90  
Flagler
    12/04/91       458       1266  
Franklin
    12/04/91       364       11  
Gadsden
    12/04/91       386       1240  
Gilchrist
    12/09/91       182       573  
Gulf
    12/04/91       148       72  
Hamilton
    12/04/91       294       236  
Hardee
    12/04/91       420       322  
Herdando
    12/03/91       843       1139  
Highlands
    12/03/91       1161       1860  
Hillsborough
    12/04/91       6449       1412  
Jefferson
    12/04/91       225       39  
Lafayette
    12/05/91       87       430  
Lake
    12/04/91       1138       1083  
Leon
    12/04/91       1530       452  
Levy
    12/05/91       446       454  
Liberty
    12/04/91       68       508  
Madison
    12/04/91       258       173  
Marion
    12/04/91       1787       161  
Orange
    12/06/91       4352       22  
Osceola
    12/05/91       1042       587  
Pasco
    12/03/91       2071       503  
Pinellas
    11/13/91       7731       740  
Polk
    12/06/91       3041       1252  
Seminole
    12/05/91       2364       1942  
Sumter
    12/03/91       443       254  
Suwanee
    12/05/91       423       515  
Taylor
    12/04/91       296       232  
Volusia
    12/09/91       3712       968  
Wakulla
    12/05/91       185       524  

A-32


 

THIRTY-SECOND SUPPLEMENTAL INDENTURE dated December 1, 1992
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    12/30/92       1888       2338  
Bay
    12/30/92       1410       42  
Brevard
    12/29/92       3256       2503  
Citrus
    12/29/92       965       231  
Columbia
    12/30/92       769       532  
Dixie
    12/30/92       165       484  
Flagler
    12/30/92       480       212  
Franklin
    12/30/92       399       1  
Gadsden
    12/30/92       399       1762  
Gilchrist
    12/30/92       194       693  
Gulf
    01/06/93       157       343  
Hamilton
    12/29/92       314       215  
Hardee
    12/31/92       439       211  
Herdando
    12/29/92       894       688  
Highlands
    12/29/92       1200       1665  
Hillsborough
    12/30/92       6838       810  
Jefferson
    12/30/92       250       196  
Lafayette
    12/30/92       92       129  
Lake
    12/30/92       1203       323  
Leon
    01/07/93       1611       2296  
Levy
    12/29/92       479       312  
Liberty
    12/30/92       73       427  
Madison
    12/30/92       292       205  
Marion
    12/29/92       1888       1815  
Orange
    12/30/92       4506       2985  
Osceola
    12/31/92       1102       2325  
Pasco
    12/29/92       3101       950  
Pinellas
    12/15/92       8120       1705  
Polk
    12/31/92       3185       899  
Seminole
    12/29/92       2525       1408  
Sumter
    12/29/92       471       468  
Suwanee
    12/29/92       449       469  
Taylor
    01/21/93       313       221  
Volusia
    12/30/92       3797       1647  
Wakulla
    12/31/92       204       765  

A-33


 

THIRTY-THIRD SUPPLEMENTAL INDENTURE dated December 1, 1992
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    12/30/92       1888       2426  
Bay
    12/30/92       1410       130  
Brevard
    12/29/92       3256       2592  
Citrus
    12/29/92       965       319  
Columbia
    12/30/92       769       622  
Dixie
    12/30/92       165       572  
Flagler
    12/30/92       480       300  
Franklin
    12/30/92       399       89  
Gadsden
    12/30/92       399       1850  
Gilchrist
    12/30/92       195       1  
Gulf
    01/06/93       157       431  
Hamilton
    12/29/92       315       1  
Hardee
    12/31/92       439       299  
Herdando
    12/29/92       894       776  
Highlands
    12/29/92       1200       1754  
Hillsborough
    12/30/92       6838       898  
Jefferson
    12/30/92       250       285  
Lafayette
    12/30/92       92       217  
Lake
    12/30/92       1203       411  
Leon
    01/07/93       1611       2384  
Levy
    12/29/92       479       400  
Liberty
    12/30/92       73       515  
Madison
    12/30/92       292       293  
Marion
    12/29/92       1888       1903  
Orange
    12/30/92       4506       3073  
Osceola
    12/31/92       1102       2413  
Pasco
    12/29/92       3101       1038  
Pinellas
    12/15/92       8120       1795  
Polk
    12/31/92       3185       987  
Seminole
    12/29/92       2525       1496  
Sumter
    12/29/92       471       556  
Suwanee
    12/29/92       449       595  
Taylor
    01/21/93       313       309  
Volusia
    12/30/92       3797       1735  
Wakulla
    12/31/92       204       853  

A-34


 

THIRTY-FOURTH SUPPLEMENTAL INDENTURE dated February 1, 1993
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    02/23/93       1895       1712  
Bay
    02/22/93       1418       1202  
Brevard
    02/22/93       3268       4928  
Citrus
    03/03/93       972       1372  
Columbia
    02/23/93       771       1030  
Dixie
    02/23/93       166       771  
Flagler
    02/23/93       483       86  
Franklin
    02/23/93       404       209  
Gadsden
    02/22/93       402       153  
Gilchrist
    02/22/93       196       612  
Gulf
    02/22/93       158       636  
Hamilton
    02/22/93       317       37  
Hardee
    02/26/93       442       29  
Herdando
    02/22/93       901       1009  
Highlands
    02/23/93       1206       1393  
Hillsborough
    02/23/93       6891       182  
Jefferson
    02/23/93       254       267  
Lafayette
    02/22/93       92       788  
Lake
    02/22/93       1211       1060  
Leon
    02/23/93       1621       51  
Levy
    02/22/93       484       459  
Liberty
    02/22/93       74       366  
Madison
    02/22/93       297       50  
Marion
    03/01/93       1902       1706  
Orange
    03/01/93       4527       4174  
Osceola
    02/23/93       1111       2070  
Pasco
    03/01/93       3118       1205  
Pinellas
    02/09/93       8173       382  
Polk
    02/22/93       3203       2186  
Seminole
    02/22/93       2547       765  
Sumter
    02/22/93       475       750  
Suwanee
    02/23/93       454       51  
Taylor
    02/25/93       314       853  
Volusia
    02/23/93       3808       3551  
Wakulla
    02/23/93       207       396  

A-35


 

THIRTY-FIFTH SUPPLEMENTAL INDENTURE dated March 1, 1993
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    03/22/93       1898       2769  
Bay
    03/23/93       1423       659  
Brevard
    03/22/93       3275       3473  
Citrus
    03/22/93       975       1  
Columbia
    03/24/93       772       1536  
Dixie
    03/23/93       167       499  
Flagler
    03/23/93       484       1113  
Franklin
    03/22/93       407       47  
Gadsden
    03/22/93       403       66  
Gilchrist
    03/22/93       197       704  
Gulf
    03/22/93       159       388  
Hamilton
    03/22/93       320       1  
Hardee
    03/22/93       443       137  
Herdando
    03/22/93       905       480  
Highlands
    03/22/93       1210       47  
Hillsborough
    03/22/93       6917       972  
Jefferson
    03/24/93       257       40  
Lafayette
    03/23/93       93       218  
Lake
    03/23/93       1216       1165  
Leon
    03/23/93       1626       1941  
Levy
    03/23/93       487       375  
Liberty
    03/22/93       74       627  
Madison
    03/22/93       299       211  
Marion
    03/22/93       1910       738  
Orange
    03/23/93       4539       2634  
Osceola
    03/25/93       1115       2511  
Pasco
    03/22/93       3129       149  
Pinellas
    03/10/93       8200       2030  
Polk
    03/22/93       3214       1331  
Seminole
    03/22/93       2559       1330  
Sumter
    03/22/93       478       191  
Suwanee
    03/24/93       456       58  
Taylor
    03/26/93       316       580  
Volusia
    03/23/93       3814       4453  
Wakulla
    03/22/93       208       563  

A-36


 

THIRTY-SIXTH SUPPLEMENTAL INDENTURE dated July 1, 1993
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    08/06/93       1919       2335  
Bay
    08/09/93       1447       1661  
Brevard
    08/05/93       3312       2304  
Citrus
    08/06/93       994       111  
Columbia
    08/09/93       778       736  
Dixie
    08/10/93       171       595  
Flagler
    08/06/93       493       183  
Franklin
    08/16/93       423       78  
Gadsden
    08/06/93       407       1440  
Gilchrist
    08/06/93       202       372  
Gulf
    08/06/93       162       831  
Hamilton
    08/06/93       326       301  
Hardee
    08/06/93       450       623  
Herdando
    08/09/93       925       1936  
Highlands
    08/06/93       1225       1608  
Hillsborough
    08/05/93       7071       222  
Jefferson
    08/10/93       266       252  
Lafayette
    08/09/93       95       394  
Lake
    08/06/93       1241       430  
Leon
    08/09/93       1660       1955  
Levy
    08/06/93       500       395  
Liberty
    08/06/93       76       362  
Madison
    08/06/93       312       20  
Marion
    08/06/93       1948       1022  
Orange
    08/09/93       4602       366  
Osceola
    08/06/93       1138       832  
Pasco
    08/05/93       3182       104  
Pinellas
    07/20/93       8342       522  
Polk
    08/05/93       3268       1251  
Seminole
    08/09/93       2627       330  
Sumter
    08/05/93       489       700  
Suwanee
    08/09/93       467       488  
Taylor
    08/06/93       323       490  
Volusia
    08/06/93       3848       2752  
Wakulla
    08/06/93       217       104  

A-37


 

THIRTY-SEVENTH SUPPLEMENTAL INDENTURE dated December 1, 1993
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    12/29/93       1942       1768  
Bay
    12/29/93       1473       1090  
Brevard
    12/28/93       3353       2186  
Citrus
    12/29/93       1013       1791  
Columbia
    12/30/93       784       1174  
Dixie
    01/04/94       175       744  
Flagler
    12/30/93       503       269  
Franklin
    12/30/93       437       69  
Gadsden
    12/29/93       412       1638  
Gilchrist
    01/03/94       207       597  
Gulf
    12/29/93       166       710  
Hamilton
    12/29/93       334       78  
Hardee
    12/28/93       458       139  
Herdando
    12/30/93       947       1037  
Highlands
    12/29/93       1241       1888  
Hillsborough
    12/29/93       7235       1829  
Jefferson
    12/30/93       276       231  
Lafayette
    12/29/93       97       746  
Lake
    12/29/93       1267       2229  
Leon
    12/29/93       1698       1017  
Levy
    12/30/93       512       733  
Liberty
    12/29/93       78       291  
Madison
    12/29/93       324       302  
Marion
    12/29/93       1990       1962  
Orange
    12/29/93       4675       2208  
Osceola
    12/30/93       1163       2641  
Pasco
    12/29/93       3239       112  
Pinellas
    12/15/93       8502       2162  
Polk
    12/28/93       3327       562  
Seminole
    12/28/93       2703       466  
Sumter
    12/28/93       502       167 *
Suwanee
    12/29/93       478       324  
Taylor
    12/29/93       330       533  
Volusia
    12/29/93       3885       2736  
Wakulla
    12/30/93       224       727  
 
*   Due to a scriveners error, the Thirty-Ninth and Fortieth Supplemental Indentures to the Original Indenture erroneously indicated a page number of 157.

A-38


 

THIRTY-EIGHTH SUPPLEMENTAL INDENTURE dated July 25, 1994
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
 
                       
Alachua
    08/08/94       1975       2678  
Bay
    08/08/94       1516       432  
Brevard
    08/08/94       3412       3309  
Citrus
    08/08/94       1044       2108  
Columbia
    08/08/94       794       188  
Dixie
    08/11/94       183       3  
Flagler
    08/08/94       516       1458  
Franklin
    08/10/94       465       42  
Gadsden
    08/09/94       422       570  
Gilchrist
    08/10/94       216       477  
Gulf
    08/08/94       172       664  
Hamilton
    08/08/94       347       189  
Hardee
    08/08/94       471       495  
Herdando
    09/06/94       983       887  
Highlands
    08/08/94       1267       791  
Hillsborough
    08/10/94       7485       745  
Jefferson
    08/09/94       298       22  
Lafayette
    08/09/94       101       626  
Lake
    08/09/94       1311       1274  
Leon
    08/08/94       1754       594  
Levy
    08/08/94       533       45  
Liberty
    08/09/94       81       566  
Madison
    08/08/94       348       172  
Marion
    08/10/94       2060       1272  
Orange
    08/09/94       4779       4850  
Osceola
    08/08/94       1205       1060  
Pasco
    08/08/94       3326       1162  
Pinellas
    07/25/94       8734       1574  
Polk
    08/08/94       3423       2168  
Seminole
    08/08/94       2809       131  
Sumter
    08/08/94       524       256  
Suwanee
    08/08/94       500       170  
Taylor
    08/09/94       342       576  
Volusia
    08/11/94       3942       4371  
Wakulla
    08/10/94       239       322  

A-39


 

THIRTY-NINTH SUPPLEMENTAL INDENTURE dated July 1, 2001
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
Alachua
    07/16/01       2371       1703  
Bay
    07/24/01       2052       225  
Brevard
    07/24/01       4387       206  
Citrus
    07/16/01       1440       322  
Columbia
    07/24/01       931       1741  
Dixie
    07/23/01       262       1  
Flagler
    07/24/01       758       320  
Franklin
    07/26/01       671       542  
Gadsden
    07/23/01       529       134  
Gilcrest
    07/23/01       2001       3068  
Gulf
    07/24/01       262       872  
Hamilton
    07/23/01       504       59  
Hardee
    07/23/01       614       764  
Hernando
    07/16/01       1437       619  
Highlands
    07/16/01       1556       1380  
Hillsborough
    07/23/01       10952       1626  
Jefferson
    07/23/01       471       268  
Lafayette
    07/23/01       169       348  
Lake
    07/16/01       1974       2275  
Leon
    07/23/01       2530       74  
Levy
    07/23/01       752       726  
Liberty
    07/23/01       124       311  
Madison
    07/24/01       587       48  
Manatee
    07/23/01       1692       6974  
Marion
    07/16/01       2987       1131  
Orange
    07/16/01       6302       3365  
Osceola
    07/16/01       1902       1112  
Pasco
    07/16/01       4667       77  
Pinellas
    07/13/01       11475       2488  
Polk
    07/16/01       4751       1  
Seminole
    07/16/01       4128       170  
Sumter
    07/16/01       894       40  
Suwannee
    07/23/01       877       77  
Taylor
    07/23/01       464       215  
Volusia
    07/17/01       4714       4356  
Wakulla
    07/23/01       414       599  

A-40


 

FORTIETH SUPPLEMENTAL INDENTURE dated July 1, 2002
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
Alachua
    07/19/02       2486       439  
Bay
    07/19/02       2164       520  
Brevard
    07/01/01       4641       2591  
Citrus
    07/19/02       1521       2  
Columbia
    07/19/02       958       500  
Dixie
    07/19/02       277       1  
Flagler
    07/24/02       838       776  
Franklin
    07/24/02       706       23  
Gadsden
    07/19/02       548       415  
Gilchrist*
    07/19/02     Instrument Number 20023363
Gulf
    07/19/02       285       369  
Hamilton
    07/19/02       530       143  
Hardee
    07/19/02       630       147  
Hernando
    07/19/02       1552       745  
Highlands
    07/19/02       1616       1919  
Hillsborough
    07/19/02       11790       0680  
Jefferson
    07/22/02       0492       0001  
Lafayette
    07/19/02       181       406  
Lake
    07/22/02       02145       1576  
Leon
    07/19/02       R2697       01718  
Levy
    07/19/02       795       531  
Liberty
    07/19/02       131       454  
Madison
    07/19/02       627       171  
Manatee
    07/19/02       1759       970  
Marion
    07/19/02       3203       0458  
Orange
    07/23/02       6573       5463  
Osceola
    07/22/02       2082       1419  
Pasco
    07/19/02       5012       1362  
Pinellas
    07/26/02       12128       1700  
Polk
    07/19/02       5064       0027  
Seminole
    07/23/02       4468       0429  
Sumter
    07/19/02       988       512  
Suwannee
    07/19/02       948       7  
Taylor
    07/19/02       484       562  
Volusia
    07/19/02       4898       2002  
Wakulla
    07/22/02       450       344  
 
*   Gilchrist County utilizes an instrument number indexing system rather than a book/page indexing system.

A-41


 

FORTY-FIRST SUPPLEMENTAL INDENTURE dated February 1, 2003
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
Alachua
    03/10/03       2620       1182  
Bay
    03/20/03       2252       1616  
Brevard
    03/10/03       4845       847  
Citrus
    03/10/03       1580       537  
Columbia
    03/10/03       976       2505  
Dixie
    03/10/03       285       654  
Flagler
    03/10/03       905       1523  
Franklin
    03/12/03       729       424  
Gadsden
    03/10/03       561       1091  
Gilchrist*
    03/10/03     Instrument Number 20031224
Gulf
    03/10/03       301       432  
Hamilton
    03/10/03       543       358  
Hardee
    03/10/03       640       218  
Hernando
    03/07/03       1636       204  
Highlands
    03/10/03       1660       726  
Hillsborough
    03/10/03       12427       1748  
Jefferson
    03/10/03       507       98  
Lafayette
    03/10/03       189       107  
Lake
    03/10/03       2276       2224  
Leon
    03/11/03       2827       95  
Levy
    03/10/03       826       208  
Liberty
    03/11/03       136       479  
Madison
    03/09/03       653       69  
Manatee
    03/07/03       1809       6624  
Marion
    03/10/03       3363       1414  
Orange
    03/10/03       6820       89  
Osceola
    03/10/03       2208       1762  
Pasco
    03/07/03       5267       216  
Pinellas
    03/06/03       12582       1011  
Polk
    03/06/03       5289       1762  
Seminole
    03/10/03       4745       970  
Sumter
    03/07/03       1052       4  
Suwannee
    03/10/03       995       83  
Taylor
    03/10/03       497       542  
Volusia
    03/10/03       5033       4056  
Wakulla
    03/10/03       478       79  
 
*   Gilchrist County utilizes an instrument number indexing system rather than a book/page indexing system.

A-42


 

FORTY-SECOND SUPPLEMENTAL INDENTURE dated April 1, 2003
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
Alachua
    05/27/2003       2676       753  
Bay
    05/27/2003       2283       585  
Brevard
    06/06/2003       4935       345  
Citrus
    05/23/2003       1604       305  
Columbia
    05/23/2003       984       87  
Dixie
    05/23/2003       289       447  
Flagler
    05/27/2003       935       151  
Franklin
    05/27/2003       739       166  
Gadsden
    05/23/2003       566       840  
Gilchrist*
    05/23/2003     Instrument Number 2003002716
Gulf
    05/27/2003       307       784  
Hamilton
    05/23/2003       549       1  
Hardee
    05/28/2003       644       670  
Hernando
    05/23/2003       1671       1084  
Highlands
    05/23/2003       1676       1168  
Hillsborough
    05/28/2003       12682       320  
Jefferson
    05/23/2003       512       367  
Lafayette
    05/23/2003       191       373  
Lake
    05/22/2003       2324       1507  
Leon
    05/28/2003       2874       1027  
Levy
    05/27/2003       837       42  
Liberty
    05/27/2003       138       218  
Madison
    05/23/2003       664       225  
Manatee
    05/28/2003       1831       1979  
Marion
    05/30/2003       3426       1046  
Orange
    05/23/2003       6925       2125  
Osceola
    05/22/2003       2256       2207  
Pasco
    05/23/2003       5370       1906  
Pinellas
    05/23/2003       12767       1631  
Polk
    05/23/2003       5372       1233  
Seminole
    05/30/2003       4843       1879  
Sumter
    05/30/2003       1076       307  
Suwannee
    05/23/2003       1013       263  
Taylor
    05/28/2003       502       773  
Volusia
    06/02/2003       5084       4311  
Wakulla
    05/23/2003       488       388  
 
*   Gilchrist County utilizes an instrument number indexing system rather than a book/page indexing system.

A-43


 

FORTY-THIRD SUPPLEMENTAL INDENTURE dated November 1, 2003
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
Alachua
    12/30/2003       2831       1359  
Bay
    01/12/2004       2385       484  
Brevard
    01/08/2004       5166       2137  
Citrus
    12/29/2003       1675       939  
Columbia
    12/30/2003       1003       767  
Dixie
    12/30/2003       300       401  
Flagler
    12/29/2003       1024       1365  
Franklin
    12/30/2003       769       78  
Gadsden
    12/29/2003       580       1923  
Gilchrist*
    12/30/2003     Instrument Number 2003006794
Gulf
    12/30/2003       327       232  
Hamilton
    12/29/2003       563       163  
Hardee
    12/29/2003       656       951  
Hernando
    12/31/2003       1776       1140  
Highlands
    12/29/2003       1727       647  
Hillsborough
    12/31/2003       13433       1463  
Jefferson
    12/30/2003       530       192  
Lafayette
    12/30/2003       199       454  
Lake
    12/30/2003       2478       691  
Leon
    01/08/2004       3018       255  
Levy
    01/05/2004       868       897  
Liberty
    12/30/2003       142       561  
Madison
    12/30/2003       695       129  
Manatee
    12/30/2003       1891       3077  
Marion
    01/05/2004       3610       1489  
Orange
    12/30/2003       7245       2525  
Osceola
    01/07/2004       2418       906  
Pasco
    12/30/2003       5676       531  
Pinellas
    12/23/2003       13265       2523  
Polk
    12/29/2003       5624       1278  
Seminole
    12/30/2003       5149       1458  
Sumter
    01/06/2004       1156       447  
Suwannee
    12/30/2003       1065       398  
Taylor
    12/30/2003       516       670  
Volusia
    12/29/2003       5232       3126  
Wakulla
    12/29/2003       518       436  
 
*   Gilchrist County utilizes an instrument number indexing system rather than a book/page indexing system.

A-44


 

FORTY-FOURTH SUPPLEMENTAL INDENTURE dated August 1, 2004
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
Alachua
    09/08/2004       2989       679  
Bay
    09/20/2004       2503       1164  
Brevard
    09/10/2004       5358       4062  
Citrus
    09/08/2004       1761       1476  
Columbia
    09/08/2004       1025       1081  
Dixie
    09/08/2004       313       405  
Flagler
    09/10/2004       1141       1282  
Franklin
    09/07/2004       811       160  
Gadsden
    09/09/2004       596       209  
Gilchrist*
    09/08/2004     Instrument Number 2004004967
Gulf
    09/08/2004       351       826  
Hamilton
    09/08/2004       579       91  
Hardee
    09/07/2004       669       579  
Hernando
    09/09/2004       1897       1207  
Highlands
    09/07/2004       1787       1955  
Hillsborough
    09/16/2004       14220       1091  
Jefferson
    09/08/2004       552       115  
Lafayette
    09/10/2004       209       329  
Lake
    09/09/2004       2652       1330  
Leon
    09/10/2004       3158       1432  
Levy
    09/08/2004       905       525  
Liberty
    09/09/2004       148       295  
Madison
    09/08/2004       728       181  
Manatee
    09/09/2004       1955       6519  
Marion
    09/14/2004       3819       714  
Orange
    09/17/2004       7618       4387  
Osceola
    09/15/2004       2595       1666  
Pasco
    09/15/2004       6027       311  
Pinellas
    09/09/2004       13817       1552  
Polk
    09/09/2004       5915       905  
Seminole
    09/14/2004       5450       663  
Sumter
    09/17/2004       1267       646  
Suwannee
    09/08/2004       1133       1  
Taylor
    09/07/2004       532       603  
Volusia
    09/16/2004       5399       4694  
Wakulla
    09/08/2004       556       566  
 
*   Gilchrist County utilizes an instrument number indexing system rather than a book/page indexing system.


 

FORTY-FIFTH SUPPLEMENTAL INDENTURE dated May 1, 2005
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
Alachua
    05/25/2005       3130       992  
Bay
    05/26/2005       2614       528  
Brevard
    05/31/2005       5474       4268  
Citrus
    06/03/2005       1862       2370  
Columbia
    05/26/2005       1047       766  
Dixie
    05/27/2005       327       196  
Flagler
    05/26/2005       1254       1518  
Franklin
    05/26/2005       853       323  
Gadsden
    05/26/2005       612       684  
Gilchrist*
    05/26/2005     Instrument Number 2005003072
Gulf
    05/26/2005       378       613  
Hamilton
    05/26/2005       594       4  
Hardee
    05/25/2005       683       104  
Hernando
    05/27/2005       2032       1078  
Highlands
    05/25/2005       1856       568  
Hillsborough
    06/01/2005       15064       90  
Jefferson
    05/24/2005       565       810  
Lafayette
    05/27/2005       220       324  
Lake
    05/26/2005       2843       2013  
Leon
    05/27/2005       3297       1711  
Levy
    05/26/2005       948       157  
Liberty
    05/27/2005       154       54  
Madison
    05/27/2005       760       251  
Manatee
    05/27/2005       2024       1257  
Marion
    06/07/2005       4061       390  
Orange
    05/24/2005       7983       1610  
Osceola
    06/09/2005       2802       2269  
Pasco
    05/27/2005       6391       357  
Pinellas
    05/23/2005       14330       1811  
Polk
    05/31/2005       6225       332  
Seminole
    05/27/2005       5741       1576  
Sumter
    05/26/2005       1382       1  
Suwannee
    05/26/2005       1199       54  
Taylor
    05/27/2005       549       201  
Volusia
    06/03/2005       5567       2445  
Wakulla
    05/27/2005       595       778  
 
*   Gilchrist County utilizes an instrument number indexing system rather than a book/page indexing system.

 


 

FORTY-SIXTH SUPPLEMENTAL INDENTURE dated September 1, 2007
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
Alachua
    10/15/2007       3691       1036  
Bay
    10/15/2007       2984       1808  
Brevard
    10/19/2007       5819       7058  
Citrus
    10/16/2007       2167       1649  
Columbia
    10/15/2007       1133       1243  
Dixie
    10/18/2007       379       107  
Flagler
    10/16/2007       1620       800  
Franklin
    10/15/2007       950       1  
Gadsden
    10/17/2007       681       453  
Gilchrist*
    10/16/2007     Instrument Number 2007006252
Gulf
    10/18/2007       448       17  
Hamilton
    10/15/2007       652       1  
Hardee*
    10/17/2007     Instrument Number 200725009084
Hernando
    10/15/2007       2499       1518  
Highlands
    10/16/2007       2103       1577  
Hillsborough
    10/17/2007       18191       597  
Jefferson*
    10/19/2007     Instrument Number 200733129980
Lafayette
    10/16/2007       262       275  
Lake
    10/16/2007       3524       2021  
Leon
    10/16/2007       3778       1808  
Levy
    10/15/2007       1097       616  
Liberty
    10/15/2007       175       1  
Madison
    10/15/2007       881       284  
Manatee
    10/16/2007       2231       362  
Marion
    10/16/2007       4910       461  
Orange
    10/17/2007       9473       4445  
Osceola
    10/15/2007       3578       1571  
Pasco
    10/16/2007       7663       343  
Pinellas
    10/11/2007       16013       1452  
Polk
    10/16/2007       7455       1559  
Seminole
    11/20/2007       6871       27  
Sumter
    10/16/2007       1854       167  
Suwannee
    10/15/2007       1420       130  
Taylor
    10/15/2007       610       413  
Volusia
    10/16/2007       6141       278  
Wakulla
    10/15/2007       731       256  
 
*   Gilchrist, Hardee and Jefferson Counties utilize an instrument number indexing system rather than a book/page indexing system.
Surface Transportation Board filing:                    Document number 27455, recorded on April 7, 2008

 


 

FORTY-SEVENTH SUPPLEMENTAL INDENTURE dated December 1, 2007
STATE OF FLORIDA
                         
County   Date of Recordation   Book   Page
Alachua
    1/11/2008       3729       1099  
Bay
    1/11/2008       3012       924  
Brevard
    1/16/2008       5838       4532  
Citrus
    1/11/2008       2187       112  
Columbia
    1/11/2008       1140       1338  
Dixie
    1/17/2008       383       1  
Flagler
    1/14/2008       1638       232  
Franklin
    1/11/2008       956       429  
Gadsden
    1/15/2008       686       1438  
Gilchrist*
    1/11/2008     Instrument number 2008000227
Gulf
    1/14/2008       452       419  
Hamilton
    1/11/2008       656       256  
Hardee*
    1/10/2008     Instrument number 200825000197
Hernando
    1/11/2008       2525       829  
Highlands
    1/10/2208       2119       119  
Hillsborough
    1/14/2008       18375       428  
Jefferson*
    1/11/2008     Instrument number 200833000172
Lafayette
    1/14/2008       265       337  
Lake
    1/11/2008       3567       2417  
Leon
    1/14/2008       3812       243  
Levy
    1/11/2008       1108       521  
Liberty
    1/14/2008       176       526  
Madison
    1/11/2008       891       71  
Manatee
    1/11/2008       2242       4715  
Marion
    1/14/2008       4964       518  
Orange
    2/18/2008       9602       277  
Osceola
    1/10/2008       3624       1400  
Pasco
    1/11/2008       7735       1309  
Pinellas
    1/15/2008       16119       240  
Polk
    1/14/2008       7530       1569  
Seminole
    1/14/2008       6907       866  
Sumter
    1/11/2008       1891       308  
Suwannee
    1/11/2008       1436       400  
Taylor
    1/11/2008       615       164  
Volusia
    1/14/2008       6179       2404  
Wakulla
    1/11/2008       741       22  
 
*   Gilchrest, Hardee and Jefferson Counties utilize an instrument number indexing system rather than a book/page indexing system.
Surface Transportation Board filing:                    Document number 27455-A, recorded on April 7, 2008

A-48


 

EXHIBIT B
PROPERTY DESCRIPTIONS

B-1


 

                                     
D
  ADVENTIST HEALTH
SYSTEM SUNBELT INC
D/B/A FLORIDA
HOSPITAL
  ORANGE (FL)   12/21/07     9542       2949     12-24S-28E   LOTS 1-24, BLOCK 7; LOTS 1-16, BLOCK 33; PART OF LOTS 17-24, BLOCK 33 AND PORTION OF UNLOTTED LAND (RUBY SUBSTATION)
D
  TARNECKI, KEITH AND
SHOW, JAMES AND
SUSAN
  ORANGE (FL)   4/28/08     9671       2792     19-22S-32E   3 BLOCK A, SEAWARD PLANATION ESTATES (BITHLO SUBSTATION)
D
  BRITT, JARRELL AND
KATHERINE
  PINELLAS (FL)   9/5/07     15964       375     21-31S-16E   LOTS 3, 4, 12, 13, 14, BLOCK 2, CENTRAL AVENUE HOMES
SUBDIV (FIFTY-FIRST STREET SUBSTATION)
D
  POARCH, MARTHA AND
MELVIN WILLIAMS
REVOCABLE LIVING
TRUST
  PINELLAS (FL)   9/5/07     15964       443     21-31S-16E   LOT 5, BLOCK 12, CETNRAL AVENUE HOMES SUBDIV
(FIFTY-FIRST STREET SUBSTATION)
D
  TG LYBASS LIMITED
PARTNERSHIP
ET AL
  LEVY (FL)   12/14/07     1105       635     13-16S-16E; 29-16S-17E; 31-16S-17E; 32-16S-17E;
5-17S-17E
  PARCEL ID NOS: 02865-000-00; 03894-000-00; 03896-000-00; 03890-000-00; 03960-000-00; 03962-000-00; 03962-000-00; 03964-000-00; 03967-000-00

B-1

Exhibit 5
HUNTON & WILLIAMS LLP
POST OFFICE BOX 109
RALEIGH, NORTH CAROLINA 27602
TEL     919 899 3000
FAX    919 833 6352
June 18, 2008
Florida Power Corporation
d/b/a Progress Energy Florida, Inc.
299 First Avenue North
St. Petersburg, Florida 33701
      Re: Registration Statement on Form S-3 (No. 333-148040)
Ladies and Gentlemen:
     We have acted as counsel to Florida Power Corporation d/b/a Progress Energy Florida, Inc. (the “Company”) in connection with the above-referenced Registration Statement on Form S-3 (Registration Statement No. 333-148040 (the “Registration Statement”)), as amended, filed with the Securities and Exchange Commission (the “Commission”), under the Securities Act of 1933, as amended (the “Act”), relating to, among other things, $500,000,000 aggregate principal amount of the Company’s First Mortgage Bonds, 5.65% Series due 2018 and $1,000,000,000 aggregate principal amount of the Company’s First Mortgage Bonds, 6.40% Series due 2038 (the “Bonds”). The Bonds have been issued under an Indenture, dated as of January 1, 1944, with The Bank of New York, as successor Trustee, as heretofore supplemented and as further supplemented by the Forty-Eighth Supplemental Indenture dated as of June 1, 2008 (collectively, the “Mortgage”).
     In connection with the foregoing, we have examined the (i) Registration Statement; (ii) the Mortgage; (iii) a certificate of the Assistant Secretary of the Company, to which are attached: (A) the Bylaws of the Company and (B) resolutions of the Company with respect to the subject transactions; (iv) a good standing certificate of the Company issued by the Secretary of State of the State of Florida on June 10, 2008; and (v) a copy of the Articles of Incorporation of the Company certified by the Secretary of State of the State of Florida as of June 12, 2008. We note that neither the Mortgage nor the form of the Bonds contains a provision specifying the law by which it is to be governed. For purposes of the opinion below, we have assumed that the Mortgage and the Bonds will be governed by the laws of the State of Florida exclusively.
     For purposes of the opinions expressed below, we have assumed (i) the authenticity of all documents submitted to us as originals, (ii) the conformity to the originals of all documents submitted as certified or photostatic copies and the authenticity of the originals thereof, (iii) the legal capacity of natural persons, (iv) the genuineness of signatures and (v) the due authorization, execution and delivery of all documents by all parties and the validity, binding effect and

 


 

Exhibit 5
enforceability thereof (other than the authorization, execution and delivery of documents by the Company and the validity, binding effect and enforceability thereof upon the Company).
     As to factual matters, we have relied upon representations included in the Mortgage, upon certificates of officers of the Company, and upon certificates of public officials.
     Based upon the foregoing and such other information and documents as we have considered necessary for the purposes hereof, we are of the opinion that the Bonds are legal, valid and binding obligations of the Company enforceable in accordance with their terms and the terms of the Mortgage, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally and general principles of equity, whether considered in a proceeding at law or in equity.
     We do not purport to express an opinion on any laws other than those of the State of Florida. The opinion expressed in this letter speaks only as of its date, and nothing should be interpreted or construed to express or imply any opinion concerning the effect of any future events or actions.
     We hereby consent to the filing of this opinion with the Commission as an exhibit to the Registration Statement and to the statements with respect to our name under the heading “Legal Matters” in the prospectus forming part of the Registration Statement. In giving the foregoing consent, we do not hereby admit that we come within the category of persons whose consent is required under Section 7 of the Act, or the rules and regulations of the Commission thereunder. This opinion may not be furnished or quoted to, or relied upon by, any other person for any purpose, without our prior written consent.
/s/HUNTON & WILLIAMS LLP