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                                                                   EXHIBIT 4-188

                                                                  CONFORMED COPY
 
                           THE DETROIT EDISON COMPANY
                              (2000 Second Avenue,
                            Detroit, Michigan 48226)
 
                                       TO
                             BANKERS TRUST COMPANY
                              (Four Albany Street,
                           New York, New York 10015)
 
                                              AS TRUSTEE
 
                            ------------------------
 
                                   INDENTURE
                           Dated as of April 15, 1992
 
                            ------------------------
 
                   SUPPLEMENTAL TO MORTGAGE AND DEED OF TRUST
                          DATED AS OF OCTOBER 1, 1924
 
                                 PROVIDING FOR
 
 (A) GENERAL AND REFUNDING MORTGAGE BONDS, SERIES KKP NO. 13, DUE SEPTEMBER 1,
                                      2022
 
                                      AND
 
                         (B) RECORDING AND FILING DATA
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                                        i
 
                               TABLE OF CONTENTS*
 
                            ------------------------
 
<TABLE>
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                                                                  PAGE
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<S>                                                             <C>
PARTIES.....................................................        1
RECITALS
  Original Indenture and Supplementals......................        1
  Issue of Bonds under Indenture............................        1
  Bonds heretofore issued...................................        1
  Reason for creation of new series.........................        5
  Bonds to be Series KKP No. 13.............................        5
  Further Assurance.........................................        5
  Authorization of Supplemental Indenture...................        5
  Consideration for Supplemental Indenture..................        5
PART I.
CREATION OF TWO HUNDRED NINETY-SIXTH
SERIES OF BONDS
GENERAL AND REFUNDING MORTGAGE BONDS,
SERIES KKP NO. 13
Sec. 1. Terms of Bonds of Series KKP No. 13.................        6
Sec. 2. Redemption of Bonds of Series KKP No. 13............        7
Sec. 3. Redemption in Event of Acceleration.................        8
Sec. 4. Consent.............................................        9
Sec. 5. Form of Bonds of Series KKP No. 13..................        9
        Form of Trustee's Certificate.......................       14
PART II.
RECORDING AND FILING DATA
Recording and filing of Original Indenture..................       14
Recording and filing of Supplemental Indentures.............       14
Recording of Certificates of Provision for Payment..........       19
PART III.
THE TRUSTEE
Terms and conditions of acceptance of trust by Trustee......       19
PART IV.
MISCELLANEOUS
Confirmation of Series 318(c) of Trust Indenture Act........       19
Execution in Counterparts...................................       19
Testimonium.................................................       20
Execution...................................................       20
Acknowledgements............................................       21
Affidavit as to consideration and good faith................       22
</TABLE>
 
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* This Table of Contents shall not have any bearing upon the interpretation of
  any of the terms or provisions of this Indenture.
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                                        1
 
 
PARTIES.                 SUPPLEMENTAL INDENTURE, dated as of the fifteenth day
                         of April, in the year one thousand nine hundred
                         and ninety-two, between THE DETROIT EDISON COMPANY, a
                         corporation organized and existing under the laws of
                         the State of Michigan and a transmitting utility
                         (hereinafter called the "Company"), party of the first
                         part, and BANKERS TRUST COMPANY, a corporation
                         organized and existing under the laws of the State of
                         New York, having its corporate trust office at Four
                         Albany Street, in the Borough of Manhattan, The City
                         and State of New York, as Trustee under the Mortgage
                         and Deed of Trust hereinafter mentioned (hereinafter
                         called the "Trus- tee"), party of the second part.
 
ORIGINAL                 WHEREAS, the Company has heretofore executed and 
INDENTURE AND            delivered its Mortgage and Deed of Trust (hereinafter 
SUPPLEMENTALS.           referred to as the "Original Indenture"), dated as of 
                         October 1, 1924, to the Trustee, for the
                         security of all bonds of the Company outstanding
                         thereunder, and pursuant to the terms and provisions
                         of the Original Indenture, indentures dated as of,
                         respectively, June 1, 1925, August 1, 1927, February
                         1, 1931, June 1, 1931, October 1, 1932, September 25,
                         1935, September 1, 1936, November 1, 1936, February 1,
                         1940, December 1, 1940, September 1, 1947, March 1,
                         1950, November 15, 1951, January 15, 1953, May 1,
                         1953, March 15, 1954, May 15, 1955, August 15, 1957,
                         June 1, 1959, December 1, 1966, October 1, 1968,
                         December 1, 1969, July 1, 1970, December 15, 1970,
                         June 15, 1971, November 15, 1971, January 15, 1973,
                         May 1, 1974, October 1, 1974, January 15, 1975,
                         November 1, 1975, December 15, 1975, February 1, 1976,
                         June 15, 1976, July 15, 1976, February 15, 1977, March
                         1, 1977, June 15, 1977, July 1, 1977, October 1, 1977,
                         June 1, 1978, October 15, 1978, March 15, 1979, July
                         1, 1979, September 1, 1979, September 15, 1979,
                         January 1, 1980, April 1, 1980, August 15, 1980,
                         August 1, 1981, November 1, 1981, June 30, 1982,
                         August 15, 1982, June 1, 1983, October 1, 1984, May 1,
                         1985, May 15, 1985, October 15, 1985, April 1, 1986,
                         August 15, 1986, November 30, 1986, January 31, 1987,
                         April 1, 1987, August 15, 1987, November 30, 1987,
                         June 15, 1989, July 15, 1989, December 1, 1989,
                         February 15, 1990, November 1, 1990, April 1, 1991,
                         May 1, 1991, May 15, 1991, September 1, 1991, November
                         1, 1991, January 15, 1992 and February 29, 1992
                         supplemental to the Original Indenture, have
                         heretofore been entered into between the Company and
                         the Trustee (the Original Indenture and all indentures
                         supplemental thereto together being hereinafter
                         sometimes referred to as the "Indenture"); and
 
ISSUE OF                 WHEREAS, the Indenture provides that said bonds shall 
BONDS UNDER              be issuable in one or more series, and makes provision 
INDENTURE.               that the rates of interest and dates for the payment 
                         thereof, the date of maturity or dates of maturity, 
                         if of serial maturity, the terms and rates
                         of optional redemption (if redeemable), the forms of
                         registered bonds without coupons of any series and any
                         other provisions and agreements in respect thereof, in
                         the Indenture provided and permitted, as the Board of
                         Directors may determine, may be expressed in a
                         supplemental indenture to be made by the Company to
                         the Trustee thereunder; and
 
BONDS HERETOFORE         WHEREAS, bonds in the principal amount of Five 
ISSUED.                  billion nine hundred eighty-seven million seven 
                         hundred ninety-seven thousand dollars ($5,987,797,000) 
                         have heretofore been issued under the Indenture as 
                         follows, viz:

 
       (1)  Bonds of Series A                  -- Principal Amount $26,016,000,
       (2)  Bonds of Series B                  -- Principal Amount $23,000,000,
       (3)  Bonds of Series C                  -- Principal Amount $20,000,000,
       (4)  Bonds of Series D                  -- Principal Amount $50,000,000,
       (5)  Bonds of Series E                  -- Principal Amount $15,000,000,
       (6)  Bonds of Series F                  -- Principal Amount $49,000,000,
       (7)  Bonds of Series G                  -- Principal Amount $35,000,000,
       (8)  Bonds of Series H                  -- Principal Amount $50,000,000,
       (9)  Bonds of Series I                  -- Principal Amount $60,000,000,
      (10)  Bonds of Series J                  -- Principal Amount $35,000,000,
      (11)  Bonds of Series K                  -- Principal Amount $40,000,000,
      (12)  Bonds of Series L                  -- Principal Amount $24,000,000,
      (13)  Bonds of Series M                  -- Principal Amount $40,000,000,
      (14)  Bonds of Series N                  -- Principal Amount $40,000,000,

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                                        2
 
       (15)  Bonds of Series O                  -- Principal Amount $60,000,000,
       (16)  Bonds of Series P                  -- Principal Amount $70,000,000,
       (17)  Bonds of Series Q                  -- Principal Amount $40,000,000,
       (18)  Bonds of Series W                  -- Principal Amount $50,000,000,
       (19)  Bonds of Series AA                 -- Principal Amount
                                                $100,000,000,
       (20)  Bonds of Series BB                 -- Principal Amount $50,000,000,
       (21)  Bonds of Series CC                 -- Principal Amount $50,000,000,
       (22)  Bonds of Series UU                 -- Principal Amount
                                                $100,000,000,
    (23-31)  Bonds of Series DDP Nos. 1-9       -- Principal Amount $14,305,000,
    (32-45)  Bonds of Series FFR Nos. 1-14      -- Principal Amount $45,600,000,
    (46-67)  Bonds of Series GGP Nos. 1-22      -- Principal Amount $42,300,000,
       (68)  Bonds of Series HH                 -- Principal Amount $50,000,000,
    (69-90)  Bonds of Series IIP Nos. 1-22      -- Principal Amount $3,750,000,
    (91-98)  Bonds of Series JJP Nos. 1-8       -- Principal Amount $6,850,000,
   (99-106)  Bonds of Series KKP Nos. 1-8       -- Principal Amount $14,890,000,
  (107-121)  Bonds of Series LLP Nos. 1-15      -- Principal Amount $8,850,000,
  (122-142)  Bonds of Series NNP Nos. 1-21      -- Principal Amount $47,950,000,
  (143-160)  Bonds of Series OOP Nos. 1-18      -- Principal Amount $18,880,000,
  (161-176)  Bonds of Series QQP Nos. 1-16      -- Principal Amount $12,345,000,
  (177-191)  Bonds of Series TTP Nos. 1-15      -- Principal Amount $3,800,000,
       (192) Bonds of 1980 Series A             -- Principal Amount $50,000,000,
  (193-217)  Bonds of 1980 Series CP Nos. 1-25  -- Principal Amount $35,000,000,
  (218-228)  Bonds of 1980 Series DP Nos. 1-11  -- Principal Amount $10,750,000,
  (229-240)  Bonds of 1981 Series AP Nos. 1-12  -- Principal Amount $24,000,000,
      (241)  Bonds of 1985 Series A             -- Principal Amount $35,000,000,
      (242)  Bonds of 1985 Series B             -- Principal Amount $50,000,000,
      (243)  Bonds of Series PP                 -- Principal Amount $70,000,000,
      (244)  Bonds of Series RR                 -- Principal Amount $70,000,000,
      (245)  Bonds of Series EE                 -- Principal Amount $50,000,000,
  (246-247)  Bonds of Series MMP and MMP No. 2  -- Principal Amount $5,430,000
 
all of which have either been retired and cancelled, or no longer
represent obligations of the Company, having been called for redemption and
funds necessary to effect the payment, redemption and retirement thereof having
been deposited with the Trustee as a special trust fund to be applied for such
purpose;
 
(248) Bonds of Series R in the principal amount of One hundred million
dollars ($100,000,000), all of which are outstanding at the date hereof;
 
(249) Bonds of Series S in the principal amount of One hundred fifty
million dollars ($150,000,000), all of which are outstanding at the date
hereof;
 
(250) Bonds of Series T in the principal amount of Seventy-five million
dollars ($75,000,000), all of which are outstanding at the date hereof;
 
(251) Bonds of Series U in the principal amount of Seventy-five million
dollars ($75,000,000), all of which are outstanding at the date hereof;
 
(252) Bonds of Series V in the principal amount of One hundred million
dollars ($100,000,000), all of which are outstanding at the date hereof;
 
(253) Bonds of Series X in the principal amount of One hundred million
dollars ($100,000,000), all of which are outstanding at the date hereof;
 
(254) Bonds of Series Y in the principal amount of Sixty million
dollars ($60,000,000), all of which are outstanding at the date hereof;
 
(255) Bonds of Series Z in the principal amount of One hundred million
dollars ($100,000,000), all of which are outstanding at the date hereof;
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                                        3
 
(256-259) Bonds of Series KKP Nos. 9-12 in the principal amount of One
hundred forty-four million two hundred ninety thousand dollars ($144,290,000),
all of which are outstanding at the date hereof;
 
(260-262) Bonds of Series QQP Nos. 17-19 in the principal amount of One
million three hundred five thousand dollars ($1,305,000), all of which are
outstanding at the date hereof;
 
(263) Bonds of Series SS in the principal amount of One hundred fifty
million dollars ($150,000,000), of which One hundred ten million dollars
($110,000,000) principal amount have heretofore been retired and Forty million
dollars ($40,000,000) principal amount are outstanding at the date hereof;
 
(264) Bonds of 1980 Series B in the principal amount of One hundred
million dollars ($100,000,000), of which Seventy-three million one hundred
fifty thousand dollars ($73,150,000) principal amount have heretofore been
retired and Twenty-six million eight hundred fifty thousand dollars
($26,850,000) principal amount are outstanding at the date hereof;
 
(265-268) Bonds of 1981 Series AP Nos. 13-16 in the principal amount of
One hundred million dollars ($100,000,000), all of which are outstanding at the
date hereof;
 
(269) Bonds of 1984 Series AP in the principal amount of Two million
four hundred thousand dollars ($2,400,000), all of which are outstanding at the
date hereof;
 
(270) Bonds of 1984 Series BP in the principal amount of Seven million
seven hundred fifty thousand dollars ($7,750,000), all of which are outstanding
at the date hereof;
 
(271) Bonds of 1986 Series A in the principal amount of Two hundred
million dollars ($200,000,000), all of which are outstanding at the date
hereof;
 
(272) Bonds of 1986 Series B in the principal amount of One hundred
million dollars ($100,000,000), all of which are outstanding at the date
hereof;
 
(273) Bonds of 1986 Series C in the principal amount of Two hundred
million dollars ($200,000,000), all of which are outstanding at the date
hereof;
 
(274) Bonds of 1987 Series A in the principal amount of Three hundred
million dollars ($300,000,000), all of which are outstanding at the date
hereof;
 
(275) Bonds of 1987 Series B in the principal amount of One hundred
seventy-five million dollars ($175,000,000), all of which are outstanding at
the date hereof;
 
(276) Bonds of 1987 Series C in the principal amount of Two hundred
twenty-five million dollars ($225,000,000), all of which are outstanding at the
date hereof;
 
(277) Bonds of 1987 Series D in the principal amount of Two hundred
fifty million dollars ($250,000,000), all of which are outstanding at the date
hereof;
 
(278) Bonds of 1987 Series E in the principal amount of One hundred
fifty million dollars ($150,000,000), all of which are outstanding at the date
hereof;
 
(279) Bonds of 1987 Series F in the principal amount of Two hundred
million dollars ($200,000,000), all of which are outstanding at the date
hereof;
 
(280) Bonds of 1989 Series A in the principal amount of Three hundred
million dollars ($300,000,000), all of which are outstanding at the date
hereof;
 
(281) Bonds of 1989 Series BP in the principal amount of Sixty-six
million five hundred sixty-five thousand dollars ($66,565,000), all of which
are outstanding at the date hereof;
 
(282) Bonds of 1990 Series A in the principal amount of One hundred
ninety-four million six hundred forty-nine thousand dollars ($194,649,000) of
which Eighteen million eight hundred thirty-seven thousand dollars
($18,837,000) principal amount have heretofore been retired and One hundred
seventy-five million eight hundred twelve thousand dollars ($175,812,000)
principal amount are outstanding at the date hereof;
 
(283) Bonds of 1990 Series B in the principal amount of Two hundred
fifty-six million nine hundred thirty-two thousand dollars ($256,932,000) of
which Twenty-eight million
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                                        4
 
five hundred forty-eight thousand dollars ($28,548,000) principal
amount have heretofore been retired and Two hundred twenty-eight million three
hundred eighty-four thousand dollars ($228,384,000) principal amount are
outstanding at the date hereof;
 
(284) Bonds of 1990 Series C in the principal amount of Eighty-five
million four hundred seventy-five thousand dollars ($85,475,000) of which Ten
million two hundred fifty-seven thousand dollars ($10,257,000) principal amount
have heretofore been retired and Seventy-five million two hundred eighteen
thousand dollars ($75,218,000) principal amount are outstanding at the date
hereof;
 
(285) Bonds of 1991 Series AP in the principal amount of Thirty-two
million three hundred seventy-five thousand dollars ($32,375,000), all of which
are outstanding at the date hereof;
 
(286) Bonds of 1991 Series BP in the principal amount of Twenty-five
million nine hundred ten thousand dollars ($25,910,000), all of which are
outstanding at the date hereof;
 
(287) Bonds of 1991 Series CP in the principal amount of Thirty-two
million eight hundred thousand dollars ($32,800,000), all of which are
outstanding at the date hereof;
 
(288) Bonds of 1991 Series DP in the principal amount of Thirty-seven
million six hundred thousand dollars ($37,600,000), all of which are
outstanding at the date hereof;
 
(289) Bonds of 1991 Series EP in the principal amount of Forty-one
million four hundred eighty thousand dollars ($41,480,000), all of which are
outstanding at the date hereof;
 
(290) Bonds of 1991 Series FP in the principal amount of Ninety-eight
million three hundred seventy-five thousand dollars ($98,375,000), all of which
are outstanding at the date hereof;
 
(291) Bonds of 1992 Series BP in the principal amount of Twenty million
nine hundred seventy-five thousand dollars ($20,975,000), all of which are
outstanding at the date hereof; and
 
(292) Bonds of 1992 Series AP in the principal amount of sixty-six
million dollars ($66,000,000), all of which are outstanding at the date hereof;
 
and, accordingly, of the bonds so issued, Four billion fifty million
two hundred eighty-nine thousand dollars ($4,050,289,000) principal amount are
outstanding at the date hereof; and
 
REASON FOR                 WHEREAS, the County of Monroe, Michigan has agreed to
CREATION OF              issue and sell $33,800,000 principal amount of its 
NEW SERIES.              Pollution Control Revenue Bonds (The Detroit Edison 
                         Company Monroe and Fermi Plants Project), 
                         Collateralized Series I-1992 so as to provide funds 
                         for the purchase and construction of certain
                         pollution control facilities installed in the Company's
                         Fermi 2 Plant; and
 
                           WHEREAS, the Company has entered into an 
                         Installment Sales Contract, dated as of March 1, 1977 
                         and amended as of September 1, 1979, October 15, 1985,
                         July 1, 1989, December 1, 1989, November 1, 1990 and 
                         May 1, 1992 with the County of Monroe, in order to 
                         purchase certain pollution control facilities, and 
                         pursuant to such Installment Sales Contract the 
                         Company has agreed to issue its General and Refunding
                         Mortgage Bonds under the Indenture in order further to
                         secure its obligations under such Installment Sales
                         Contract; and
 
                           WHEREAS, for such purposes the Company desires to 
                         issue a new series of bonds to be issued under the 
                         Indenture and to be authenticated and delivered 
                         pursuant to Section 8 of Article III of the Indenture; 
                         and
 
BONDS TO BE                WHEREAS, the Company desires by this Supplemental
SERIES KKP NO. 13.       Indenture to create such new series of bonds, to be
                         designated "General and Refunding Mortgage Bonds, 
                         Series KKP No. 13"; and
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                                        5
 
Further                  WHEREAS, the Original Indenture, by its terms, 
Assurance.               includes in the property subject to the lien thereof 
                         all of the estates and properties, real,
                         personal and mixed, rights, privileges and franchises
                         of every nature and kind and wheresoever situate, then
                         or thereafter owned or possessed by or belonging to
                         the Company or to which it was then or at any time
                         thereafter might be entitled in law or in equity
                         (saving and excepting, however, the property therein
                         specifically excepted or released from the lien
                         thereof), and the Company therein covenanted that it
                         would, upon reasonable request, execute and deliver
                         such further instruments as may be necessary or proper
                         for the better assuring and confirming unto the
                         Trustee all or any part of the trust estate, whether
                         then or thereafter owned or acquired by the Company
                         (saving and excepting, however, property specifically
                         excepted or released from the lien thereof); and


AUTHORIZATION              WHEREAS, the Company in the exercise of the powers 
OF SUPPLEMENTAL          and authority conferred upon and reserved to it under
INDENTURE.               and by virtue of the provisions of the Indenture, and 
                         pursuant to resolutions of its 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 and
                         legally binding 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;
 
CONSIDERATION              NOW, THEREFORE, THIS INDENTURE WITNESSETH: That The
FOR SUPPLEMENTAL         Detroit Edison Company, in consideration of the 
INDENTURE.               premises and of the covenants contained in the 
                         Indenture and of the sum 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, hereby covenants and agrees to
                         and with the Trustee and its successors in the trusts
                         under the Original Indenture and in said indentures
                         supplemental thereto as follows:
 
                                   PART I.
                     CREATION OF TWO HUNDRED NINETY-SIXTH
                               SERIES OF BONDS.
                    GENERAL AND REFUNDING MORTGAGE BONDS,
                              SERIES KKP NO. 13
 
CERTAIN TERMS              SECTION 1. The Company hereby creates the Two 
OF BONDS OF              hundred Ninety-sixth series of bonds to be issued 
SERIES KKP NO. 13.       under and secured by the Original Indenture as 
                         amended to date and as further amended by this
                         Supplemental Indenture, to be designated, and to be
                         distinguished from the bonds of all other series, by
                         the title "General and Refunding Mortgage Bonds,
                         Series KKP No. 13" (elsewhere herein referred to as
                         the "bonds of Series KKP No. 13"). The aggregate
                         principal amount of bonds of Series KKP No. 13 shall
                         be limited to Thirty-three million eight hundred
                         thousand dollars ($33,800,000), except as provided in
                         Sections 7 and 13 of Article II of the Original
                         Indenture with respect to exchanges and replacements
                         of bonds. 
<PAGE>   8
                                        6
 
                         Each bond of Series KKP No. 13 is to be
                         irrevocably assigned to, and registered in the name
                         of, Manufacturers Bank, N.A., as trustee, or a
                         successor trustee (said trustee or any successor
                         trustee being hereinafter referred to as the "Monroe
                         Trust Indenture Trustee"), under the Trust Indenture,
                         dated as of March 1, 1977, as amended September 1,
                         1979, October 15, 1985, July 1, 1989, December 1,
                         1989, November 1, 1990 and May 1, 1992 (hereinafter
                         called the "Monroe Trust Indenture"), between the
                         County of Monroe, Michigan (hereinafter called
                         "Monroe"), and the Monroe Trust Indenture Trustee, to
                         secure payment of the County of Monroe, Michigan,
                         Pollution Control Revenue Bonds (The Detroit Edison
                         Company Monroe and Fermi Plants Project),
                         Collateralized Series I-1992 (hereinafter called the
                         "Monroe Revenue Bonds"), issued by Monroe under the
                         Monroe Trust Indenture, the proceeds of which (other
                         than any accrued interest thereon) have been provided
                         for the acquisition and construction of certain
                         pollution control facilities which the Company has
                         agreed to purchase pursuant to the provisions of the
                         Installment Sales Contract, dated as of March 1, 1977,
                         as amended as of September 1, 1979, as of October 15,
                         1985, as of July 1, 1989, as of December 1, 1989, as
                         of November 1, 1990 and as of May 1, 1992 (hereinafter
                         called the "Monroe Contract"), between the Company and
                         Monroe.

                                The bonds of Series KKP No. 13 shall be issued
                         as registered bonds without coupons in denominations
                         of a multiple of $5,000. The bonds of Series KKP No.
                         13 shall be issued in the aggregate principal amount
                         of $33,800,000, shall mature on September 1, 2022 and
                         shall bear interest, payable semi-annually on March 1
                         and September 1 of each year (commencing September 1,
                         1992), at the rate of 6 7/8%, until the principal
                         thereof shall have become due and payable and
                         thereafter until the Company's obligation with respect
                         to the payment of said principal shall have been
                         discharged as provided in the Indenture.
 
                                The bonds of Series KKP No. 13 shall be payable
                         as to principal, premium, if any, and interest as
                         provided in the Indenture, but only to the extent and
                         in the manner herein provided. The bonds of Series KKP
                         No. 13 shall be payable, both as to principal and
                         interest, at the office or agency of the Company in
                         the Borough of Manhattan, The City and State of New
                         York, in any coin or currency of the United States of
                         America which at the time of payment is legal tender
                         for public and private debts.
 
                                Except as provided herein, each bond of Series
                         KKP No. 13 shall be dated the date of its
                         authentication and interest shall be payable on the
                         principal represented thereby from the March 1 or
                         September 1 next preceding the date thereof to which
                         interest has been paid on bonds of Series KKP No. 13,
                         unless the bond is authenticated on a date to which
                         interest has been paid, in which case interest shall
                         be payable from the date of authentication, or unless
                         the date of authentication is prior to September 1,
                         1992, in which case interest shall be payable from May
                         1, 1992.
 
                                The bonds of Series KKP No. 13 in definitive
                         form shall be, at the election of the Company, fully
                         engraved or shall be lithographed or printed in
                         authorized denomina- tions as aforesaid and numbered 1
                         and upwards (with such further designation as may be
                         appropriate and desirable to indicate by such
                         designation the form, series and denominations of
                         bonds of Series KKP No. 13). Until bonds of Series KKP
                         No. 13 in definitive form are ready for delivery, the
                         Company may execute, and upon its request in writing
                         the Trustee shall authenticate and deliver in lieu
                         thereof, bonds of Series KKP No. 13 in temporary form,
                         as provided in Section 10 of Article II of the
                         Indenture. Temporary bonds of Series KKP No. 13, if
                         any, may be printed and may be issued in authorized
                         denominations in substantially the form of definitive
                         bonds of Series KKP No. 13, but with such omissions,
                         insertions and variations as may be appropriate for
                         temporary bonds, all as may be determined by the
                         Company. 
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                                        7
 
                         Bonds of Series KKP No. 13 shall not be assignable or 
                         transferable except as may be required to effect a 
                         transfer to any successor trustee under
                         the Monroe Trust Indenture, or, subject to compliance
                         with applicable law, as may be involved in the course
                         of the exercise of rights and remedies consequent upon
                         an Event of Default under the Monroe Trust Indenture.
                         Any such transfer shall be made upon surrender thereof
                         for cancella- tion at the office or agency of the
                         Company in the Borough of Manhattan, The City and
                         State of New York, together with a written instrument
                         of transfer (if so required by the Company or by the
                         Trustee) in form approved by the Company duly executed
                         by the holder or by its duly authorized attorney.
                         Bonds of Series KKP No. 13 shall in the same manner be
                         exchangeable for a like aggregate principal amount of
                         bonds of Series KKP No. 13 upon the terms and
                         conditions specified herein and in Section 7 of
                         Article II of the Indenture. The Company waives its
                         rights under Section 7 of Article II of the Indenture
                         not to make exchanges or transfers of bonds of Series
                         KKP No. 13, during any period of ten days next
                         preceding any redemption date for such bonds.

                                Bonds of Series KKP No. 13, in definitive and
                         temporary form, may bear such legends as may be
                         necessary to comply with any law or with any rules or
                         regulations made pursuant thereto or as may be
                         specified in the Monroe Contract.
 
                                Upon payment of the principal or premium, if
                         any, or interest on the Monroe Revenue Bonds, whether
                         at maturity or prior to maturity by redemption or
                         otherwise, or upon provision for the payment thereof
                         having been made in accordance with Article IX of the
                         Monroe Trust Indenture, bonds of Series KKP No. 13 in
                         a principal amount equal to the principal amount of
                         such Monroe Revenue Bonds, shall, to the extent of
                         such payment of principal, premium or interest, be
                         deemed fully paid and the obligation of the Company
                         thereunder to make such payment shall forthwith cease
                         and be discharged, and, in the case of the payment of
                         principal and premium, if any, such bonds shall be
                         surrendered for cancellation or presented for
                         appropriate notation to the Trustee.
 
REDEMPTION                 SECTION 2. Bonds of Series KKP No. 13 shall be 
OF BONDS OF              redeemed on the respective dates and in the 
SERIES KKP NO. 13.       respective principal amounts which correspond to the 
                         redemption dates for, and the principal amounts
                         to be redeemed of, the Monroe Revenue Bonds. In the
                         event the Company elects to redeem any Monroe Revenue
                         Bonds prior to maturity in accordance with the
                         provisions of the Monroe Trust Indenture, the Company
                         shall on the same date redeem bonds of Series KKP No.
                         13 in principal amounts and at redemption prices
                         corresponding to the Monroe Revenue Bonds so redeemed.
                         The Company agrees to give the Trustee notice of any
                         such redemption of bonds of Series KKP No. 13 on the
                         same date as it gives notice of redemption of Monroe
                         Revenue Bonds to the Monroe Trust Indenture Trustee.
<PAGE>   10
                                        8
REDEMPTION                 SECTION 3. In the event of an Event of Default 
OF BONDS OF SERIES KKP   under the Monroe Trust Indenture and the acceleration
NO. 13 IN EVENT OF       of all Monroe Revenue Bonds, the bonds of Series KKP 
ACCELERATION             No. 13 shall be redeemable in whole upon receipt by 
OF MONROE                the Trustee of a written demand (hereinafter called
REVENUE BONDS.           a "Redemption Demand") from the Monroe Trust 
                         Indenture Trustee stating that there has occurred 
                         under the Monroe Trust Indenture both an
                         Event of Default and a declaration of acceleration of
                         payment of principal, accrued interest and premium, if
                         any, on the Monroe Revenue Bonds, specifying the last
                         date to which interest on the Monroe Revenue Bonds has
                         been paid (such date being hereinafter referred to as
                         the "Initial Interest Accrual Date") and demanding
                         redemption of the bonds of said series. The Trustee
                         shall, within five days after receiving such
                         Redemption Demand, mail a copy thereof to the Company
                         marked to indicate the date of its receipt by the
                         Trustee. Promptly upon receipt by the Company of such
                         copy of a Redemption Demand, the Company shall fix a
                         date on which it will redeem the bonds of said series
                         so demanded to be redeemed (hereinafter called the
                         "Demand Redemption Date"). Notice of the date fixed as
                         the Demand Redemption Date shall be mailed by the
                         Company to the Trustee at least ten days prior to such
                         Demand Redemption Date. The date to be fixed by the
                         Company as and for the Demand Redemption Date may be
                         any date up to and including the earlier of (x) the
                         60th day after receipt by the Trustee of the
                         Redemption Demand or (y) the maturity date of such
                         bonds first occurring following the 20th day after the
                         receipt by the Trustee of the Redemption Demand;
                         provided, however, that if the Trustee shall not have
                         received such notice fixing the Demand Redemption Date
                         on or before the 10th day preceding the earlier of
                         such dates, the Demand Redemption Date shall be deemed
                         to be the earlier of such dates. The Trustee shall
                         mail notice of the Demand Redemption Date (such notice
                         being hereinafter called the "Demand Redemption
                         Notice") to the Monroe Trust Indenture Trustee not
                         more than ten nor less than five days prior to the
                         Demand Redemption Date.
 
                                Each bond of Series KKP No. 13 shall be
                         redeemed by the Company on the Demand Redemption Date
                         therefore upon surrender thereof by the Monroe Trust
                         Indenture Trustee to the Trustee at a redemption price
                         equal to the principal amount thereof plus accrued
                         interest thereon at the rate specified for such bond
                         from the Initial Interest Accrual Date to the Demand
                         Redemption Date plus an amount equal to the aggregate
                         premium, if any, due and payable on such Demand
                         Redemption Date on all Monroe Revenue Bonds; provided,
                         however, that in the event of a receipt by the Trustee
                         of a notice that, pursuant to Section 1010 of the
                         Monroe Trust Indenture, the Monroe Trust Indenture
                         Trustee has terminated proceedings to enforce any
                         right under the Monroe Trust Indenture, then any
                         Redemption Demand shall thereby be rescinded by the
                         Monroe Trust Indenture Trustee, and no Demand
                         Redemption Notice shall be given, or, if already
                         given, shall be automatically annulled; but no such
                         rescission or annulment shall extend to or affect any
                         subsequent default or impair any right consequent
                         thereon.
 
                         Anything herein contained to the contrary
                         notwithstanding, the Trustee is not    authorized to
                         take any action pursuant to a Redemption Demand and
                         such Redemption Demand shall be of no force or effect,
                         unless it is executed in the name of the Monroe Trust
                         Indenture Trustee by its President or one of its Vice
                         Presidents.
 
CONSENT.                   SECTION 4. The holders of the bonds of Series KKP 
                         No. 13, by their acceptance of and holding thereof, 
                         consent and agree that bonds of any series
                         may be issued which mature on a date or dates later
                         than October 1, 2024 and also consent to the deletion
                         from the first paragraph of Section 5 of Article II of
                         the Indenture of the phrase "but in no event later
                         than October 1, 2024". Such holders further agree that
                         (a) such consent shall, for all purposes of Article XV
                         of the Indenture and without further action on the
                         part of such holders, be deemed the affirmative vote
                         of such holders at any meeting called pursuant to said
                         Article XV for the purpose of approving such deletion,
                         and (b) such deletion shall become effective at such
                         time as not less than eighty-five per cent (85%) in
                         principal amount of bonds outstanding under the
                         Indenture shall have consented thereto substantially
                         in the manner set forth in this Section 4, or in
                         writing, or by affirmative vote cast at a meeting
                         called pursuant to said Article XV, or by any
                         combination thereof. 
<PAGE>   11
                                        9
 
FORM OF BONDS              SECTION 5. The bonds of Series KKP No. 13 and the 
OF SERIES KKP NO. 13.    form of Trustee's Certificate to be endorsed
                         on such bonds shall be substantially in the following
                         forms, respectively:
<PAGE>   12
                                       10
 
                           [FORM OF FACE OF BOND]
 
                           THE DETROIT EDISON COMPANY
                         GENERAL AND REFUNDING MORTGAGE BOND
                         SERIES KKP NO. 13, 6 7/8% DUE SEPTEMBER 1, 2022
 
                                Notwithstanding any provisions hereof or in the
                         Indenture, this bond is not assignable or transferable
                         except as may be required to effect a transfer to any
                         successor trustee under the Trust Indenture, dated as
                         of March 1, 1977 and amended as of September 1, 1979,
                         October 15, 1985, July 1, 1989, December 1, 1989,
                         November 1, 1990 and May 1, 1992 between the County of
                         Monroe, Michigan and Manufacturers Bank, N.A., as
                         trustee, or, subject to compliance with applicable
                         law, as may be involved in the course of the exercise
                         of rights and remedies consequent upon an Event of
                         Default under said Trust Indenture.
 
                                $.........                         No..........
 
                                THE DETROIT EDISON COMPANY (hereinafter called
                         the "Company"), a corporation of the State of
                         Michigan, for value received, hereby promises to pay
                         to Manufacturers Bank, N.A., as trustee, or registered
                         assigns, at the Company's office or agency in the
                         Borough of Manhattan, The City and State of New York,
                         the principal sum of dollars ($           ) in lawful
                         money of the United States of America on the date
                         specified in the title hereof and interest thereon at
                         the rate specified in the title hereof, in like lawful
                         money, from May 1, 1992, and after the first payment
                         of interest on bonds of this Series has been made or
                         otherwise provided for, from the most recent date to
                         which interest has been paid or otherwise provided
                         for, semi-annually on March 1 and September 1 of each
                         year (commencing September 1, 1992), until the
                         Company's obligation with respect to payment of said
                         principal shall have been discharged, all as provided,
                         to the extent and in the manner specified in the
                         Indenture hereinafter mentioned on the reverse hereof
                         and in the supplemental indenture pursuant to which
                         this bond has been issued.
 
                                Under a Trust Indenture, dated as of March 1,
                         1977 and amended as of September 1, 1979, October 15,
                         1985, July 1, 1989, December 1, 1989, November 1, 1990
                         and May 1, 1992 (hereinafter called the "Monroe
                         Trustee Indenture"), between the County of Monroe,
                         Michigan (hereinafter called "Monroe"), and
                         Manufacturers Bank, N.A., as trustee (hereinafter
                         called the "Monroe Trust Indenture Trustee"), Monroe
                         has issued Pollution Control Revenue Bonds (The
                         Detroit Edison Company Monroe and Fermi Plants
                         Project), Collateralized Series I-1992 (hereinafter
                         called the "Monroe Revenue Bonds"). This bond was
                         originally issued to Monroe and simultaneously
                         irrevocably assigned to the Monroe Trust Indenture
                         Trustee so as to secure the payment of the Monroe
                         Revenue Bonds. Payments of principal of, or premium,
                         if any, or interest on, the Monroe Revenue Bonds shall
                         constitute like payments on this bond as further
                         provided herein and in the supplemental indenture
                         pursuant to which this bond has been issued.
 
                                Reference is hereby made to such further
                         provisions of this bond set forth on the reverse
                         hereof and such further provisions shall for all
                         purposes have the same effect as though set forth at
                         this place.
 
                                This bond shall not be valid or become
                         obligatory for any purpose until Bankers Trust
                         Company, the Trustee under the Indenture hereinafter
                         mentioned on the reverse hereof, or its successor
                         thereunder, shall have signed the form of certificate
                         endorsed hereon. 
<PAGE>   13
                                       11
 
        IN WITNESS WHEREOF, THE DETROIT EDISON COMPANY has caused this
instrument to be executed by its Chairman of the Board and its Executive Vice
President and Chief Financial Officer, with their manual or facsimile
signatures, and its corporate seal, or a facsimile thereof, to be impressed or
imprinted hereon and the same to be attested by its Secretary or an Assistant
Secretary with his or her manual or facsimile signature.

     Dated:                                  THE DETROIT EDISON COMPANY
                                             By ............................
                                                 Chairman of the Board
    
                                                 ............................
                                                 Executive Vice President
     Attest:                                     and Chief Financial Officer
     ............................
     Secretary
<PAGE>   14
                                       12
 
 
                          [FORM OF REVERSE OF BOND]
 
              This bond is one of an authorized issue of bonds of the
            Company, unlimited as to amount except as provided in the
            Indenture hereinafter mentioned or any indentures
            supplemental thereto, and is one of a series of General and
            Refunding Mortgage Bonds known as Series KKP No. 13, limited
            to an aggregate principal amount of $33,800,000, except as
            otherwise provided in the Indenture hereinafter mentioned.
            This bond and all other bonds of said series are issued and
            to be issued under, and are all equally and ratably secured
            (except insofar as any sinking, amortization, improvement or
            analogous fund, established in accordance with the
            provisions of the Indenture hereinafter mentioned, may
            afford additional security for the bonds of any particular
            series and except as provided in Section 3 of Article VI of
            said Indenture) by an Indenture, dated as of October 1,
            1924, duly executed by the Company to Bankers Trust Company,
            a corporation of the State of New York, as Trustee, to which
            Indenture and all indentures supplemental thereto (including
            the Supplemental Indenture dated as of April 15, 1992)
            reference is hereby made for a description of the properties
            and franchises mortgaged and conveyed, the nature and extent
            of the security, the terms and conditions upon which the
            bonds are issued and under which additional bonds may be
            issued, and the rights of the holders of the bonds and of
            the Trustee in respect of such security (which Indenture and
            all indentures supplemental thereto, including the
            Supplemental Indenture dated as of April 15, 1992, are
            hereinafter collectively called the "Indenture"). As
            provided in the Indenture, said bonds may be for various
            principal sums and are issuable in series, which may mature
            at different times, may bear interest at different rates and
            may otherwise vary as in said Indenture provided. With the
            consent of the Company and to the extent permitted by and as
            provided in the Indenture, the rights and obligations of the
            Company and of the holders of the bonds and the terms and
            provisions of the Indenture, or of any indenture
            supplemental thereto, may be modified or altered in certain
            respects by affirmative vote of at least eighty-five percent
            (85%) in amount of the bonds then outstanding, and, if the
            rights of one or more, but less than all, series of bonds
            then outstanding are to be affected by the action proposed
            to be taken, then also by affirmative vote of at least
            eighty-five percent (85%) in amount of the series of bonds
            so to be affected (excluding in every instance bonds
            disqualified from voting by reason of the Company's interest
            therein as specified in the Indenture); provided, however,
            that, without the consent of the holder hereof, no such
            modification or alteration shall, among other things, affect
            the terms of payment of the principal of or the interest on
            this bond, which in those respects is unconditional.

              The holders of the bonds of Series KKP No. 13, by their
            acceptance of and holding thereof, consent and agree that
            bonds of any series may be issued which mature on a date or
            dates later than October 1, 2024 and also consent to the
            deletion from the first paragraph of Section 5 of Article II
            of the Indenture of the phrase "but in no event later than
            October 1, 2024,". Such holders further agree that (a) such
            consent shall, for all purposes of Article XV of the
            Indenture and without further action on the part of such
            holders, be deemed the affirmative vote of such holders at
            any meeting called pursuant to said Article XV for the
            purpose of approving such deletion, and (b) such deletion
            shall become effective at such time as not less than
            eighty-five per cent (85%) in principal amount of bonds
            outstanding under the Indenture shall have consented thereto
            substantially in the manner set forth in Section 4 of Part I
            of the Supplemental Indenture dated as of April 15, 1992, or
            in writing, or by affirmative vote cast at a meeting called
            pursuant to said Article XV, or by any combination thereof.

              This bond is redeemable upon the terms and conditions set
            forth in the Indenture, including provision for redemption
            upon demand of the Monroe Trust Indenture Trustee following
            the occurrence of an Event of Default under the Monroe Trust
            Indenture and the acceleration of the principal of the
            Monroe Revenue Bonds.

<PAGE>   15
                                       13
 
        Under the Indenture, funds may be deposited with the Trustee (which
shall have become available for payment), in advance of the redemption date of
any of the bonds of Series KKP No. 13 (or portions thereof), in trust for the
redemption of such bonds (or portions thereof) and the interest due or to
become due thereon, and thereupon all obligations of the Company in respect of
such bonds (or portions thereof) so to be redeemed and such interest shall
cease and be discharged, and the holders thereof shall thereafter be restricted
exclusively to such funds for any and all claims of whatsoever nature on their
part under the Indenture or with respect to such bonds (or portions thereof)
and interest.

        In case an event of default, as defined in the Indenture, shall occur,
the principal of all the bonds issued thereunder may become or be declared due
and payable, in the manner, with the effect and subject to the conditions
provided in the Indenture.

        Upon payment of the principal of, or premium, if any, or interest on,
the Monroe Revenue Bonds, whether at maturity or prior to maturity by
redemption or otherwise or upon provision for the payment thereof having been
made in accordance with Article IX of the Monroe Trust Indenture, bonds of
Series KKP No. 13 in a principal amount equal to the principal amount of such
Monroe Revenue Bonds and having both a corresponding maturity date and interest
rate shall, to the extent of such payment of principal, premium or interest, be
deemed fully paid and the obligation of the Company thereunder to make such
payment shall forthwith cease and be discharged, and, in the case of the
payment of principal and premium, if any, such bonds of said series shall be
surrendered for cancellation or presented for appropriate notation to the
Trustee.

        This bond is not assignable or transferable except as may be required
to effect a transfer to any successor trustee under the Monroe Trust Indenture,
or, subject to compliance with applicable law, as may be involved in the course
of the exercise of rights and remedies consequent upon an Event of Default
under the Monroe Trust Indenture. Any such transfer shall be made by the
registered holder hereof, in person or by his attorney duly authorized in
writing, on the books of the Company kept at its office or agency in the
Borough of Manhattan, The City and State of New York, upon surrender and
cancellation of this bond, and thereupon, a new registered bond of the same
series of authorized denominations for a like aggregate principal amount will
be issued to the transferee in exchange therefor, and this bond with others in
like form may in like manner be exchanged for one or more new bonds of the same
series of other authorized denominations, but of the same aggregate principal
amount, all as provided and upon the terms and conditions set forth in the
Indenture, and upon payment, in any event, of the charges prescribed in the
Indenture.

        No recourse shall be had for the payment of the principal of or the
interest on this bond, or for any claim based hereon or otherwise in respect
hereof or of the Indenture, or of any indenture supplemental thereto, against
any incorporator, or against any past, present or future stockholder, director
or officer, as such, of the Company, or of any predecessor or successor
corporation, either directly or through the Company or any such predecessor or
successor corporation, whether for amounts unpaid on stock subscriptions or by
virtue of any constitution, statute or rule of law, or by the enforcement of
any assessment or penalty or otherwise howsoever; all such liability being, by
the acceptance hereof and as part of the consideration for the issue hereof,
expressly waived and released by every holder or owner hereof, as more fully
provided in the Indenture. 
<PAGE>   16
                                       14
 

 
                       [FORM OF TRUSTEE'S CERTIFICATE]
FORM OF
TRUSTEE'S                  This bond is one of the bonds, of the series 
CERTIFICATE.             designated therein, described in the within-mentioned 
                         Indenture.
                                            BANKERS TRUST COMPANY,         
                                                                    as Trustee 

                                            By ...........................
                                               Authorized Officer


                                   PART II.
                          RECORDING AND FILING DATA
 
RECORDING AND                The Original Indenture and indentures 
FILING OF ORIGINAL       supplemental thereto have been recorded and/or filed
INDENTURE.               and Certificates of Provision for Payment have been 
                         recorded as hereinafter set forth.
          
                             The Original Indenture has been recorded as a 
                         real estate mortgage and filed as a chattel mortgage 
                         in the offices of the respective Registers of
                         Deeds of certain counties in the State of Michigan as
                         set forth in the Supplemental Indenture dated as of
                         September 1, 1947, has been recorded as a real estate
                         mortgage in the office of the Register of Deeds of
                         Genesee County, Michigan as set forth in the
                         Supplemental Indenture dated as of May 1, 1974, has
                         been filed in the Office of the Secretary of State of
                         Michigan on November 16, 1951 and has been filed and
                         recorded in the office of the Interstate Commerce
                         Commission on December 8, 1969.
 
RECORDING AND                Pursuant to the terms and provisions of the 
FILING OF                Original Indenture, indentures supplemental
SUPPLEMENTAL             thereto heretofore entered into have been recorded as
INDENTURES.              a real estate mortgage and/or filed as a chattel 
                         mortgage or as a financing statement in the offices 
                         of the respective Registers of Deeds of certain 
                         counties in the State of Michigan, the Office of the 
                         Secretary of State of Michigan and the Office of the 
                         Interstate Commerce Commission, as set forth in 
                         supplemental indentures as follows:
 

<TABLE>
<CAPTION>
                                                                                             RECORDED AND/OR
                                                                                          FILED AS SET FORTH IN
                                   SUPPLEMENTAL                      PURPOSE OF               SUPPLEMENTAL
                                    INDENTURE                       SUPPLEMENTAL                INDENTURE
                                   DATED AS OF                       INDENTURE                DATED AS OF:
                                   ------------                     ------------          ---------------------
                        <S>                                 <C>                           <C>
                        June 1, 1925(a)(b)................  Series B Bonds                February 1, 1940
                        August 1, 1927(a)(b)..............  Series C Bonds                February 1, 1940
                        February 1, 1931(a)(b)............  Series D Bonds                February 1, 1940
                        June 1, 1931(a)(b)................  Subject Properties            February 1, 1940
                        October 1, 1932(a)(b).............  Series E Bonds                February 1, 1940
                        September 25, 1935(a)(b)..........  Series F Bonds                February 1, 1940
                        September 1, 1936(a)(b)...........  Series G Bonds                February 1, 1940
                        November 1, 1936(a)(b)............  Subject Properties            February 1, 1940
                        February 1, 1940(a)(b)............  Subject Properties            September 1, 1947
                        December 1, 1940(a)(b)............  Series H Bonds and            September 1, 1947
                                                              Additional Provisions
                        September 1, 1947(a)(b)(c)........  Series I Bonds,               November 15, 1951
                                                              Subject Properties and
                                                              Additional Provisions
                        March 1, 1950(a)(b)(c)............  Series J Bonds                November 15, 1951
                                                              and Additional Provisions
                        November 15, 1951(a)(b)(c)........  Series K Bonds                January 15, 1953
                                                              Additional Provisions and
                                                              Subject Properties
                        January 15, 1953(a)(b)............  Series L Bonds                May 1, 1953
                        May 1, 1953(a)....................  Series M Bonds                March 15, 1954
                                                              and Subject Properties
                        March 15, 1954(a)(c)..............  Series N Bonds                May 15, 1955
                                                              and Subject Properties
</TABLE>
<PAGE>   17
                                       15
 
<TABLE>
<CAPTION>
                                                                                             RECORDED AND/OR
                                                                                          FILED AS SET FORTH IN
                                   SUPPLEMENTAL                      PURPOSE OF               SUPPLEMENTAL
                                    INDENTURE                       SUPPLEMENTAL                INDENTURE
                                   DATED AS OF                       INDENTURE                DATED AS OF:
                                   ------------                     ------------          ---------------------
                        <S>                                 <C>                           <C>
                        May 15, 1955(a)(c)................  Series O Bonds                August 15, 1957
                                                              and Subject Properties
                        August 15, 1957(a)(c).............  Series P Bonds                June 1, 1959
                                                              Additional Provisions and
                                                              Subject Properties
                        June 1, 1959(a)(c)................  Series Q Bonds                December 1, 1966
                                                              and Subject Properties
                        December 1, 1966(a)(c)............  Series R Bonds                October 1, 1968
                                                              Additional Provisions and
                                                              Subject Properties
                        October 1, 1968(a)(c).............  Series S Bonds                December 1, 1969
                                                              and Subject Properties
                        December 1, 1969(a)(c)............  Series T Bonds                July 1, 1970
                                                              and Subject Properties
                        July 1, 1970(c)...................  Series U Bonds                December 15, 1970
                                                              and Subject Properties
                        December 15, 1970(c)..............  Series V and                  June 15, 1971
                                                              Series W Bonds
                        June 15, 1971(c)..................  Series X Bonds                November 15, 1971
                                                              and Subject Properties
                        November 15, 1971(c)..............  Series Y Bonds                January 15, 1973
                                                              and Subject Properties
                        January 15, 1973(c)...............  Series Z Bonds                May 1, 1974
                                                              and Subject Properties
                        May 1, 1974.......................  Series AA Bonds               October 1, 1974
                                                              and Subject Properties
                        October 1, 1974...................  Series BB Bonds               January 15, 1975
                                                              and Subject Properties
                        January 15, 1975..................  Series CC Bonds               November 1, 1975
                                                              and Subject Properties
                        November 1, 1975..................  Series DDP Nos. 1-9 Bonds     December 15, 1975
                                                              and Subject Properties
                        December 15, 1975.................  Series EE Bonds               February 1, 1976
                                                              and Subject Properties
                        February 1, 1976..................  Series FFR Nos. 1-13 Bonds    June 15, 1976
                        June 15, 1976.....................  Series GGP Nos. 1-7 Bonds     July 15, 1976
                                                              and Subject Properties
                        July 15, 1976.....................  Series HH Bonds               February 15, 1977
                                                              and Subject Properties
                        February 15, 1977.................  Series MMP Bonds and Subject  March 1, 1977
                                                              Properties
                        March 1, 1977.....................  Series IIP Nos. 1-7 Bonds,    June 15, 1977
                                                              Series JJP Nos. 1-7 Bonds,
                                                              Series KKP Nos. 1-7 Bonds
                                                              and Series LLP Nos. 1-7
                                                              Bonds
                        June 15, 1977.....................  Series FFR No. 14 Bonds and   July 1, 1977
                                                              Subject Properties
                        July 1, 1977......................  Series NNP Nos. 1-7 Bonds     October 1, 1977
                                                              and Subject Properties
                        October 1, 1977...................  Series GGP Nos. 8-22 Bonds    June 1, 1978
                                                              and Series OOP Nos. 1-17
                                                              Bonds and Subject
                                                              Properties
</TABLE>
<PAGE>   18
                                       16
 

 
<TABLE>
<CAPTION>
                                                                                             RECORDED AND/OR
                                                                                          FILED AS SET FORTH IN
                                   SUPPLEMENTAL                      PURPOSE OF               SUPPLEMENTAL
                                    INDENTURE                       SUPPLEMENTAL                INDENTURE
                                   DATED AS OF                       INDENTURE                DATED AS OF:
                                   ------------                     ------------          ---------------------
                        <S>                                 <C>                           <C>
                        June 1, 1978......................  Series PP Bonds,              October 15, 1978
                                                              Series QQP Nos. 1-9 Bonds
                                                              and Subject Properties
                        October 15, 1978..................  Series RR Bonds               March 15, 1979
                                                              and Subject Properties
                        March 15, 1979....................  Series SS Bonds               July 1, 1979
                                                              and Subject Properties
                        July 1, 1979......................  Series IIP Nos. 8-22 Bonds,   September 1, 1979
                                                              Series NNP Nos. 8-21 Bonds
                                                              and Series TTP Nos. 1-15
                                                              Bonds and Subject
                                                              Properties
                        September 1, 1979.................  Series JJP No. 8 Bonds,       September 15, 1979
                                                              Series KKP No. 8 Bonds,
                                                              Series LLP Nos. 8-15
                                                              Bonds, Series MMP No. 2
                                                              Bonds and Series OOP No.
                                                              18 Bonds and Subject
                                                              Properties
                        September 15, 1979................  Series UU Bonds               January 1, 1980
                        January 1, 1980...................  1980 Series A Bonds and       April 1, 1980
                                                              Subject Properties
                        April 1, 1980.....................  1980 Series B Bonds           August 15, 1980
                        August 15, 1980...................  Series QQP Nos. 10-19 Bonds,  August 1, 1981
                                                              1980 Series CP Nos. 1-12
                                                              Bonds and 1980 Series DP
                                                              No. 1-11 Bonds and Subject
                                                              Properties
                        August 1, 1981....................  1980 Series CP Nos. 13-25     November 1, 1981
                                                              Bonds and Subject
                                                              Properties
                        November 1, 1981..................  1981 Series AP Nos. 1-12      June 30, 1982
                                                              Bonds
                        June 30, 1982.....................  Article XIV Reconfirmation    August 15, 1982
                        August 15, 1982...................  1981 Series AP Nos. 13-14     June 1, 1983
                                                              and Subject Properties
                        June 1, 1983......................  1981 Series AP Nos. 15-16     October 1, 1984
                                                              and Subject Properties
                        October 1, 1984...................  1984 Series AP and 1984       May 1, 1985
                                                              Series BP Bonds and
                                                              Subject Properties
                        May 1, 1985.......................  1985 Series A Bonds           May 15, 1985
                        May 15, 1985......................  1985 Series B Bonds and       October 15, 1985
                                                              Subject Properties
                        October 15, 1985..................  Series KKP No. 9 Bonds and    April 1, 1986
                                                              Subject Properties
</TABLE>
<PAGE>   19
                                       17
 
<TABLE>
<CAPTION>
                                                                                             RECORDED AND/OR
                                                                                          FILED AS SET FORTH IN
                                   SUPPLEMENTAL                      PURPOSE OF               SUPPLEMENTAL
                                    INDENTURE                       SUPPLEMENTAL                INDENTURE
                                   DATED AS OF                       INDENTURE                DATED AS OF:
                                   ------------                     ------------          ---------------------
                        <S>                                 <C>                           <C>
                        April 1, 1986.....................  1986 Series A and Subject     August 15, 1986
                                                              Properties
                        August 15, 1986...................  1986 Series B and Subject     November 30, 1986
                                                              Properties
                        November 30, 1986.................  1986 Series C                 January 31, 1987
                        January 31, 1987..................  1987 Series A                 April 1, 1987
                        April 1, 1987.....................  1987 Series B and 1987        August 15, 1987
                                                              Series C
                        August 15, 1987...................  1987 Series D and 1987        November 30, 1987
                                                              Series E and Subject
                                                              Properties
                        November 30, 1987.................  1987 Series F                 June 15, 1989
                        June 15, 1989.....................  1989 Series A                 July 15, 1989
                        July 15, 1989.....................  Series KKP No. 10             December 1, 1989
                        December 1, 1989..................  Series KKP No. 11 and 1989    February 15, 1990
                                                              Series BP
                        February 15, 1990.................  1990 Series A, 1990 Series    November 1, 1990
                                                              B, 1990 Series C, 1990
                                                              Series D, 1990 Series E
                                                              and 1990 Series F
                        November 1, 1990..................  Series KKP No. 12             April 1, 1991
                        April 1, 1991.....................  1991 Series AP                May 1, 1991
                        May 1, 1991.......................  1991 Series BP and 1991       May 15, 1991
                                                              Series CP
                        May 15, 1991......................  1991 Series DP                September 1, 1991
                        September 1, 1991.................  1991 Series EP                November 1, 1991
                        November 1, 1991..................  1991 Series FP                January 15, 1992
                        January 15, 1992..................  1992 Series BP                February 29, 1992 and
                                                                                          April 15, 1992
                        February 29, 1992.................  1992 Series AP                April 15, 1992
</TABLE>
 
                 ------------------------------------------
                 (a) See Supplemental Indenture dated as of July 1, 1970 for
                     Interstate Commerce Commission filing and recordation
                     information.
 
                 (b) See Supplemental Indenture dated as of May 1, 1953 for
                     Secretary of State of Michigan filing information.
 
                 (c) See Supplemental Indenture dated as of May 1, 1974 for
                     County of Genesee, Michigan recording and filing
                     information.
<PAGE>   20
                                       18
 
        Further, pursuant to the terms and provisions of the Original
Indenture, a Supplemental Indenture dated as of February 29, 1992 providing for
the terms of bonds to be issued thereunder of 1992 Series AP has heretofore
been entered into between the Company and the Trustee and has been filed in the
Office of the Secretary of State of Michigan as a financing statement on March
19, 1992 (Filing No. 18848B), has been filed and recorded in the Office of the
Interstate Commerce Commission (Recordation No. 5485-XXX) on March 19, 1992,
and has been recorded as a real estate mortgage in the offices of the
respective Register of Deeds of certain counties in the State of Michigan, as
follows: 
 
<TABLE>
<CAPTION>
                                                                                    LIBER OF
                                                                                    MORTGAGES
                                                                                    OR COUNTY
                                    COUNTY                    RECORDED               RECORDS           PAGE
                                    ------                    --------              ---------          ----
                        <S>                              <C>                        <C>               <C>
                        Genesee........................  March 24, 1992                2727           971-994
                        Huron..........................  March 19, 1992                 572           791-814
                        Ingham.........................  March 19, 1992                1943           1189-1212
                        Lapeer.........................  March 19, 1992                 747           319-342
                        Lenawee........................  March 19, 1992                1192           938-961
                        Livingston.....................  March 19, 1992                1551           0267-0290
                        Macomb.........................  March 20, 1992                5367           892-914
                        Mason..........................  March 19, 1992                 414           737-760
                        Monroe.........................  March 23, 1992                1213           0737-0760
                        Oakland........................  March 19, 1992               12444           406-429
                        Sanilac........................  March 19, 1992                 426           547-570
                        St. Clair......................  March 19, 1992                1029           587-610
                        Tuscola........................  March 19, 1992                 623           188-211
                        Washtenaw......................  March 20, 1992                2598           841-864
                        Wayne..........................  March 19, 1992               25641           016-039
</TABLE>
 
        The Supplemental Indenture dated as of January 15, 1992 providing for
the terms of bonds of 1992 Series BP was filed in the County of Ingham,
Michigan on February 11, 1992 and recorded at Liber 1934, pages 341-364 and was
also filed in the County of Lapeer, Michigan on February 6, 1992 and recorded
at Liber 743, pages 11-34. 
<PAGE>   21
                                       19
 
<TABLE>
<S>                      <C>
RECORDING OF                 All the bonds of Series A which were issued under the
CERTIFICATES             Original Indenture dated as of October 1, 1924, and of
OF PROVISION             Series B, C, D, E, F, G, H, I, J, K, L, M, N, O, P, Q, W,
FOR PAYMENT.             AA, BB, CC, DDP Nos. 1-9, FFR Nos. 1-14, GGP Nos. 1-22, HH,
                         IIP Nos. 1-22, JJP Nos. 1-8, KKP Nos. 1-8, LLP Nos. 1-15,
                         NNP Nos. 1-21, OOP Nos. 1-18, QQP Nos. 1-16, TTP Nos. 1-15,
                         UU, 1980 Series A, 1980 Series CP Nos. 1-25, 1980 Series DP
                         Nos. 1-11, 1981 Series AP Nos. 1-12, 1985 Series A, 1985
                         Series B, PP, RR, EE, MMP and MMP No. 2 which were issued
                         under Supplemental Indentures dated as of, respectively,
                         June 1, 1925, August 1, 1927, February 1, 1931, October 1,
                         1932, September 25, 1935, September 1, 1936, December 1,
                         1940, September 1, 1947, November 15, 1951, January 15,
                         1953, May 1, 1953, March 15, 1954, May 15, 1955, August 15,
                         1957, December 15, 1970, May 1, 1974, October 1, 1974,
                         January 15, 1975, November 1, 1975, February 1, 1976, June
                         15, 1976, July 15, 1976, October 1, 1977, March 1, 1977,
                         July 1, 1979, March 1, 1977, March 1, 1977, March 1, 1977,
                         September 1, 1979, July 1, 1977, July 1, 1979, September 15,
                         1979, October 1, 1977, June 1, 1978, October 1, 1977, July
                         1, 1979, January 1, 1980, August 15, 1980, November 1, 1981,
                         May 1, 1985, May 15, 1985, June 1, 1978, October 15, 1978,
                         December 15, 1975, February 15, 1977, and September 1, 1979
                         have matured or have been called for redemption and funds
                         sufficient for such payment or redemption have been
                         irrevocably deposited with the Trustee for that purpose; and
                         Certificates of Provision for Payment have been recorded in
                         the offices of the respective Registers of Deeds of certain
                         counties in the State of Michigan, with respect to all bonds
                         of Series A, B, C, D, E, F, G, H, K, L, M, O, W, BB, CC, DDP
                         Nos. 1 and 2, FFR Nos. 1-3, GGP Nos. 1 and 2, IIP No. 1, JJP
                         No. 1, KKP No. 1, LLP No. 1 and GGP No. 8.
 
                           PART III.
                         THE TRUSTEE.
TERMS AND                    The Trustee hereby accepts the trust hereby declared and
CONDITIONS OF            provided, and agrees to perform the same upon the terms and
ACCEPTANCE OF            conditions in the Original Indenture, as amended to date and
TRUST BY TRUSTEE.        as supplemented by this Supplemental Indenture, and in this
                         Supplemental Indenture set forth, and upon the following
                         terms and conditions:
                             The Trustee shall not be responsible in any manner
                         whatsoever for and in respect of the validity or sufficiency
                         of this Supplemental Indenture or 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.
 
                           PART IV.
                         MISCELLANEOUS.
CONFIRMATION OF              Except to the extent specifically provided therein, no
SECTION 318(C) OF        provision of this supplemental indenture or any future
TRUST INDENTURE          supplemental indenture is intended to modify, and the
ACT                      parties do hereby adopt and confirm, the provisions of
                         Section 318(c) of the Trust Indenture Act which amend and
                         supercede provisions of the Indenture in effect prior to
                         November 15, 1990.
EXECUTION IN                 THIS SUPPLEMENTAL INDENTURE MAY BE SIMULTANEOUSLY
COUNTERPARTS.            EXECUTED IN ANY NUMBER OF COUNTERPARTS, EACH OF WHICH WHEN
                         SO EXECUTED SHALL BE DEEMED TO BE AN ORIGINAL; BUT SUCH
                         COUNTERPARTS SHALL TOGETHER CONSTITUTE BUT ONE AND THE SAME
                         INSTRUMENT.
</TABLE>
<PAGE>   22
                                       20

TESTIMONIUM.                 IN WITNESS WHEREOF, THE DETROIT EDISON COMPANY AND
                         BANKERS TRUST COMPANY HAVE CAUSED THESE PRESENTS TO BE
                         SIGNED IN THEIR RESPECTIVE CORPORATE NAMES BY THEIR
                         RESPECTIVE CHAIRMEN OF THE BOARD, PRESIDENTS, VICE
                         PRESIDENTS, ASSISTANT VICE PRESIDENTS, TREASURERS OR
                         ASSISTANT TREASURERS AND IMPRESSED WITH THEIR
                         RESPECTIVE CORPORATE SEALS, ATTESTED BY THEIR
                         RESPECTIVE SECRETARIES OR ASSISTANT SECRETARIES, ALL
                         AS OF THE DAY AND YEAR FIRST ABOVE WRITTEN. 

                                                    THE DETROIT EDISON COMPANY, 


                         (Corporate Seal) 

                                                    By /s/ C. C. ARVANI
                                                       ------------------------
                                                           C.C.Arvani 
                                                       Assistant Treasurer
 
EXECUTION.               Attest:
                                      /s/ ELAINE M. GODFREY
                                      ---------------------------
                                        Elaine M. Godfrey
                                       Assistant Secretary

                         Signed, sealed and delivered by THE
                         DETROIT EDISON COMPANY, in the
                         presence of
                                        /s/ JANE E. LENART
                                        -------------------------
                                          Jane E. Lenart

                                       /s/ JANET A. SCULLEN
                                       --------------------------
                                         Janet A. Scullen
 
                         (Corporate Seal)
 
                                                    BANKERS TRUST COMPANY,
                                                    By /s/ R. T. GORMAN
                                                    -------------------------
                                                           R. T. Gorman
                                                           Vice President
 
                         Attest:
                                        /s/ CAROLE KEPPLER
                         ------------------------------------------------
                                          Carole Keppler
                                       Assistant Secretary
                         Signed, sealed and delivered by
                         BANKERS TRUST COMPANY, in the
                         presence of
                                         /s/ ERIC HAWNER
                         ------------------------------------------------
                                           Eric Hawner
                                        /s/ SHIKHA DOMBEK
                         ------------------------------------------------
                                          Shikha Dombek
<PAGE>   23
                                       21
 
                         STATE OF MICHIGAN    
                         COUNTY OF WAYNE   SS.:

ACKNOWLEDGMENT           On this 12th day of May, 1992, before me, the 
OF EXECUTION             subscriber, a Notary Public within and for the County 
BY COMPANY.              of Wayne, in the State of Michigan, personally 
                         appeared C. C. Arvani, to me personally known,
                         who, being by me duly sworn, did say that he does
                         business at 2000 Second Avenue, Detroit, Michigan
                         48226 and is the Assistant Treasurer of THE DETROIT
                         EDISON COMPANY, one of the corporations described in
                         and which executed the foregoing instrument; that he
                         knows the corporate seal of the said corporation and
                         that the seal affixed to said instrument is the
                         corporate seal of said corporation; and that said
                         instrument was signed and sealed in behalf of said
                         corporation by authority of its Board of Directors and
                         that he subscribed his name thereto by like authority;
                         and said C. C. Arvani, acknowledged said instrument to
                         be the free act and deed of said corporation. 


                                          /s/ PEARL E. KOTTER
                                          ---------------------------
                  (Notarial Seal)         Pearl E. Kotter, Notary Public
                                                Macomb County, MI 
                                             (Acting in Wayne County) 
                                          My Commission Expires August 23, 1993
 
                         STATE OF NEW YORK
                         COUNTY OF NEW YORK SS.:
ACKNOWLEDGMENT           On this 8th day of May, 1992, before me, the 
OF EXECUTION             subscriber, a Notary Public within and for the County 
BY TRUSTEE.              of Queens, in the State of New York, personally 
                         appeared R. T. Gorman, to me personally known,
                         who, being by me duly sworn, did say that his business
                         office is located at Four Albany Street, New York, New
                         York 10015, and he is Vice President of BANKERS TRUST
                         COMPANY, one of the corporations described in and
                         which executed the foregoing instrument; that he knows
                         the corporate seal of the said corporation and that
                         the seal affixed to said instrument is the corporate
                         seal of said corporation; and that said instrument was
                         signed and sealed in behalf of said corporation by
                         authority of its Board of Directors and that he
                         subscribed his name thereto by like authority; and
                         said R. T. Gorman acknowledged said instrument to be
                         the free act and deed of said corporation. 

                         (Notarial Seal)          
                                            /s/ MARJORIE STANLEY
                                            ------------------------------
                                                    Marjorie Stanley 
                                            Notary Public, State of New York 
                                                     No. 41-4986405 
                                                Qualified in Queens County 
                                            Certificate filed in New York County
                                              Commission Expires Sept. 16, 1993 
<PAGE>   24
                                       22
                         STATE OF MICHIGAN
                         COUNTY OF WAYNE     SS.:
AFFIDAVIT AS TO          C. C. Arvani, being duly sworn, says: that he is the
CONSIDERATION            Assistant Treasurer of THE DETROIT EDISON COMPANY, the
AND GOOD FAITH.          Mortgagor named in the foregoing instrument, and that 
                         he has knowledge of the facts in regard to the
                         making of said instrument and of the consideration
                         therefor; that the consideration for said instrument
                         was and is actual and adequate, and that the same was
                         given in good faith for the purposes in such
                         instrument set forth. 

                                            /s/ C. C. ARVANI
                                            ---------------------------------
                                                C. C. Arvani


                         Sworn to before me this 12th day of
                         May, 1992
 
                            /s/ PEARL E. KOTTER
                         ------------------------------------------------
                             Pearl E. Kotter, Notary Public
                                     Macomb County, MI
                                 (Acting in Wayne County)
                           My Commission Expires August 23, 1993

                           (Notarial Seal)

                             This instrument was drafted by Frances B. Rohlman,
                         Esq., 2000 Second Avenue, Detroit, Michigan 48226