<PAGE>   1
                                                                  EXHIBIT 4-177

 
                                                                  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 November 1, 1990
 
                            ------------------------
 
                   SUPPLEMENTAL TO MORTGAGE AND DEED OF TRUST
                          DATED AS OF OCTOBER 1, 1924
 
                                 PROVIDING FOR
 
 (A) GENERAL AND REFUNDING MORTGAGE BONDS, SERIES KKP NO. 12, DUE SEPTEMBER 1,
                                     2020,
 
                                      AND
 
                         (B) RECORDING AND FILING DATA
<PAGE>   2
 
                                        i
 
                               TABLE OF CONTENTS*
 
                            ------------------------
 
                                                                  PAGE
                                                                  ----
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. 12.............................        5
  Further Assurance.........................................        5
  Authorization of Supplemental Indenture...................        5
  Consideration for Supplemental Indenture..................        6

                                    PART I.
                     CREATION OF TWO HUNDRED EIGHTY-SEVENTH
                                SERIES OF BONDS
                     GENERAL AND REFUNDING MORTGAGE BONDS,
                               SERIES KKP NO. 12
Sec. 1. Terms of Bonds of Series KKP No. 12.................        6
Sec. 2. Redemption of Bonds of Series KKP No. 12............        7
Sec. 3. Redemption in Event of Acceleration.................        8
Sec. 4. Consent.............................................        9
Sec. 5. Form of Bonds of Series KKP No. 12..................        9
        Form of Trustee's Certificate.......................       13

                                    PART II.
                           RECORDING AND FILING DATA
Recording and filing of Original Indenture..................       20
Recording and filing of Supplemental Indentures.............       20
Recording of Certificates of Provision for Payment..........       24

                                   PART III.
                                  THE TRUSTEE
Terms and conditions of acceptance of trust by Trustee......       24

                                    PART IV.
                                 MISCELLANEOUS
Execution in Counterparts...................................       25
Testimonium.................................................       25
Execution...................................................       25
Acknowledgements............................................       26
Affidavit as to consideration and good faith................       27
 
------------------------
* This Table of Contents shall not have any bearing upon the interpretation of
  any of the terms or provisions of this Indenture.
<PAGE>   3
 
                                        1
 
<TABLE>
<S>                     <C>
PARTIES.                 SUPPLEMENTAL INDENTURE, dated as of the first day of
                         November, in the year one thousand nine hundred and ninety,
                         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
                         "Trustee"), party of the second part.
 
ORIGINAL                 WHEREAS, the Company has heretofore executed and delivered
INDENTURE AND            its Mortgage and Deed of Trust (hereinafter referred to as
SUPPLEMENTALS.           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 and February 15, 1990
                         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 be
BONDS UNDER              issuable in one or more series, and makes provision that the
INDENTURE.               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 billion five
ISSUED.                  hundred eighty-one million five hundred thirty-seven
                         thousand dollars ($5,581,537,000) have heretofore been
                         issued under the Indenture as follows, viz:
</TABLE>
 
<TABLE>
<CAPTION>
                             <S>                                      <C>
                              (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,
</TABLE>
<PAGE>   4
 
                                        2
 
<TABLE>
<CAPTION>
 
                        <S>                                           <C>
                             (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 BB                 -- Principal Amount $50,000,000,
                             (20)  Bonds of Series CC                 -- Principal Amount $50,000,000,
                          (21-28)  Bonds of Series DDP Nos. 1-8       -- Principal Amount $6,400,000,
                          (29-39)  Bonds of Series FFR Nos. 1-11      -- Principal Amount $6,500,000,
                          (40-54)  Bonds of Series GGP Nos. 1-6 and
                                   8-16                               -- Principal Amount $8,355,000,
                          (55-67)  Bonds of Series IIP Nos. 1-6 and
                                   8-14                               -- Principal Amount $470,000,
                          (68-73)  Bonds of Series JJP Nos. 1-6       -- Principal Amount $690,000,
                          (74-79)  Bonds of Series KKP Nos. 1-6       -- Principal Amount $1,590,000,
                          (80-92)  Bonds of Series LLP Nos. 1-6 and
                                   8-14                               -- Principal Amount $4,700,000,
                         (93-105)  Bonds of Series NNP Nos. 1-6 and
                                   8-14                               -- Principal Amount $8,450,000,
                        (106-114)  Bonds of Series OOP Nos. 1-9       -- Principal Amount $3,015,000,
                        (115-128)  Bonds of Series QQP Nos. 1-8 and
                                   10-15                              -- Principal Amount $9,710,000,
                        (129-135)  Bonds of Series TTP Nos. 1-7       -- Principal Amount $385,000,
                            (136)  Bonds of 1980 Series A             -- Principal Amount $50,000,000,
                        (137-153)  Bonds of 1980 Series CP Nos. 1-12
                                   and 13-17                          -- Principal Amount $26,000,000,
                        (154-164)  Bonds of 1980 Series DP Nos. 1-11  -- Principal Amount $10,750,000,
                        (165-169)  Bonds of 1981 Series AP Nos. 1-5   -- Principal Amount $4,000,000,
</TABLE>
 
                 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;
 
                 (170) 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;
 
                 (171) 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;
 
                 (172) 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;
 
                 (173) 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;
 
                 (174) 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;
 
                 (175) 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;
 
                 (176) Bonds of Series Y in the principal amount of Sixty
                 million dollars ($60,000,000), all of which are outstanding at
                 the date hereof;
 
                 (177) 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;
 
                 (178) Bonds of Series AA in the principal amount of One hundred
                 million dollars ($100,000,000), all of which are outstanding at
                 the date hereof;
 
                 (179) Bonds of Series DDP No. 9 in the principal amount of
                 Seven million nine hundred five thousand dollars ($7,905,000),
                 of which Two million four hundred thousand dollars ($2,400,000)
                 principal amount have heretofore been retired and
<PAGE>   5
 
                                        3
 
                 Five million five hundred five thousand dollars ($5,505,000)
                 principal amount are outstanding at the date hereof;
 
                 (180) Bonds of Series EE in the principal amount of Fifty
                 million dollars ($50,000,000), of which Thirty million dollars
                 ($30,000,000) principal amount have heretofore been retired and
                 Twenty million dollars ($20,000,000) principal amount are
                 outstanding at the date hereof;
 
                 (181-183) Bonds of Series FFR Nos. 12-14 in the principal
                 amount of Thirty-nine million one hundred thousand dollars
                 ($39,100,000), all of which are outstanding at the date hereof;
 
                 (184-190) Bonds of Series GGP Nos. 7 and 17-22 in the principal
                 amount of Thirty-three million nine hundred forty-five thousand
                 dollars ($33,945,000), of which Three million two hundred
                 thousand dollars ($3,200,000) principal amount have heretofore
                 been retired and Thirty million seven hundred forty-five
                 thousand dollars ($30,745,000) principal amount are outstanding
                 at the date hereof;
 
                 (191) Bonds of Series HH in the principal amount of Fifty
                 million dollars ($50,000,000), all of which are outstanding at
                 the date hereof;
 
                 (192-193) Bonds of Series MMP and MMP No. 2 in the principal
                 amount of Five million four hundred thirty thousand dollars
                 ($5,430,000), of which One million two hundred thirty-five
                 thousand dollars ($1,235,000) principal amount have heretofore
                 been retired and Four million one hundred ninety-five thousand
                 dollars ($4,195,000) principal amount are outstanding at the
                 date hereof;
 
                 (194-202) Bonds of Series IIP Nos. 7 and 15-22 in the principal
                 amount of Three million two hundred eighty thousand dollars
                 ($3,280,000), of which One hundred sixty-five thousand dollars
                 ($165,000) principal amount have heretofore been retired and
                 Three million one hundred fifteen thousand dollars ($3,115,000)
                 principal amount are outstanding at the date hereof;
 
                 (203-204) Bonds of Series JJP Nos. 7-8 in the principal amount
                 of Six million one hundred sixty thousand dollars ($6,160,000),
                 of which Four hundred eighty-five thousand dollars ($485,000)
                 principal amount have heretofore been retired and Five million
                 six hundred seventy-five thousand dollars ($5,675,000) are
                 outstanding at the date hereof;
 
                 (205-209) Bonds of Series KKP Nos. 7-11 in the principal amount
                 of Seventy-three million forty-five thousand dollars
                 ($73,045,000), of which One million five thousand dollars
                 ($1,005,000) principal amount have heretofore been retired and
                 Seventy-two million forty thousand dollars ($72,040,000) are
                 outstanding at the date hereof;
 
                 (210-211) Bonds of Series LLP Nos. 7 and 15 in the principal
                 amount of Four million one hundred fifty thousand dollars
                 ($4,150,000), of which Three million seven hundred fifteen
                 thousand dollars ($3,715,000) principal amount have heretofore
                 been retired and Four hundred thirty-five thousand dollars
                 ($435,000) principal amount are outstanding at the date hereof;
 
                 (212-219) Bonds of Series NNP Nos. 7 and 15-21 in the principal
                 amount of Thirty-nine million five hundred thousand
                 ($39,500,000), of which Two million four hundred seventy-five
                 thousand dollars ($2,475,000) principal amount have heretofore
                 been retired and Thirty-seven million twenty-five thousand
                 dollars ($37,025,000) principal amount are outstanding at the
                 date hereof;
 
                 (220-228) Bonds of Series OOP Nos. 10-18 in the principal
                 amount of Fifteen million eight hundred sixty-five thousand
                 dollars ($15,865,000), of which Two hundred eighty thousand
                 dollars ($280,000) principal amount have heretofore been
                 retired and Fifteen million five hundred eighty-five thousand
                 dollars ($15,585,000) are outstanding at the date hereof;
 
                 (229) Bonds of Series PP in the principal amount of Seventy
                 million dollars ($70,000,000), all of which are outstanding at
                 the date hereof;
<PAGE>   6
 
                                        4
 
                 (230-234) Bonds of Series QQP Nos. 9 and 16-19 in the principal
                 amount of Three million nine hundred forty thousand dollars
                 ($3,940,000), all of which are outstanding at the date hereof;
 
                 (235) Bonds of Series RR in the principal amount of Seventy
                 million dollars ($70,000,000), all of which are outstanding at
                 the date hereof;
 
                 (236) Bonds of Series SS in the principal amount of One hundred
                 fifty million dollars ($150,000,000), of which Seventy million
                 dollars ($70,000,000) principal amount have heretofore been
                 retired and Eighty million dollars ($80,000,000) principal
                 amount are outstanding at the date hereof;
 
                 (237-244) Bonds of Series TTP Nos. 8-15 in the principal amount
                 of Three million four hundred fifteen thousand dollars
                 ($3,415,000), all of which are outstanding at the date hereof;
 
                 (245) Bonds of Series UU in the principal amount of One hundred
                 million dollars ($100,000,000), all of which are outstanding at
                 the date hereof;
 
                 (246) Bonds of 1980 Series B in the principal amount of One
                 hundred million dollars ($100,000,000), of which Fifty-nine
                 million eight hundred fifty thousand dollars ($59,850,000)
                 principal amount have heretofore been retired and Forty million
                 one hundred fifty thousand dollars ($40,150,000) principal
                 amount are outstanding at the date hereof;
 
                 (247-254) Bonds of 1980 Series CP Nos. 18-25 in the principal
                 amount of Nine million dollars ($9,000,000), all of which are
                 outstanding at the date hereof;
 
                 (255-265) Bonds of 1981 Series AP Nos. 6-16 in the principal
                 amount of One hundred twenty million dollars ($120,000,000),
                 all of which are outstanding at the date hereof;
 
                 (266) 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;
 
                 (267) 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;
 
                 (268) Bonds of 1985 Series A in the principal amount of
                 Thirty-five million dollars ($35,000,000), all of which are
                 outstanding at the date hereof;
 
                 (269) Bonds of 1985 Series B in the principal amount of Fifty
                 million dollars ($50,000,000), all of which are outstanding at
                 the date hereof;
 
                 (270) 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;
 
                 (271) 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;
 
                 (272) 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;
 
                 (273) 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;
 
                 (274) 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;
 
                 (275) 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;
 
                 (276) 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;
 
                 (277) 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;
 
                 (278) 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;
<PAGE>   7
 
                                        5
 
                 (279) 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;
 
                 (280) Bonds of 1989 Series BP in the principal amount of
                 Sixty-six million five hundred sixty-five thousand
                 ($66,565,000), all of which are outstanding at the date hereof;
 
                 (281) Bonds of 1990 Series A in the principal amount of One
                 hundred ninety-four million six hundred forty-nine thousand
                 ($194,649,000) of which Six million two hundred seventy-nine
                 thousand ($6,279,000) principal amount have heretofore been
                 retired and One hundred eighty-eight million three hundred
                 seventy thousand ($188,370,000) principal amount are
                 outstanding at the date hereof;
 
                 (282) Bonds of 1990 Series B in the principal amount of Two
                 hundred fifty-six million nine hundred thirty-two thousand
                 ($256,932,000) of which Nine million five hundred sixteen
                 thousand ($9,516,000) principal amount have heretofore been
                 retired and Two hundred forty-seven million four hundred
                 sixteen thousand ($247,416,000) principal amount are
                 outstanding at the date hereof; and
 
                 (283) Bonds of 1990 Series C in the principal amount of
                 Eighty-five million four hundred seventy-five thousand
                 ($85,475,000) of which Three million four hundred nineteen
                 thousand ($3,419,000) principal amount have heretofore been
                 retired and Eighty-two million fifty-six thousand ($82,056,000)
                 principal amount are outstanding at the date hereof;
 
                 and, accordingly, of the bonds so issued, Four billion four
                 hundred nineteen million four hundred eight-two thousand
                 dollars ($4,419,482,000) 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 $50,745,000 principal amount of its Pollution
NEW SERIES.      Control Revenue Bonds (The Detroit Edison Company Monroe and
                 Fermi Plants Project), Collateralized Series I-1990 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 and November 1, 1990 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
                 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       Indenture to create such new series of bonds, to be
NO. 12           designated "General and Refunding Mortgage Bonds, Series KKP
                 No. 12"; and
 
FURTHER            WHEREAS, the Original Indenture, by its terms, includes in
ASSURANCE.       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
<PAGE>   8
 
                                        6
 
AUTHORIZATION         WHEREAS, the Company in the exercise of the powers and
OF SUPPLEMENTAL     authority conferred upon and reserved to it under and by
INDENTURE.          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 premises and
INDENTURE.          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 EIGHTY-SEVENTH
                    SERIES OF BONDS.
                      GENERAL AND REFUNDING MORTGAGE BONDS,
                    SERIES KKP NO. 12
 
CERTAIN TERMS         SECTION 1. The Company hereby creates the Two hundred
OF BONDS OF         Eighty-seventh series of bonds to be issued under and
SERIES KKP          secured by the Original Indenture as amended to date and as
NO. 12              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. 12" (elsewhere herein referred to as
                    the "bonds of Series KKP No. 12"). The aggregate principal
                    amount of bonds of Series KKP No. 12 shall be limited to
                    Fifty million seven hundred and forty-five thousand dollars
                    ($50,745,000), except as provided in Sections 7 and 13 of
                    Article II of the Original Indenture with respect to
                    exchanges and replacements of bonds.
 
                      Each bond of Series KKP No. 12 is to be irrevocably
                    assigned to, and registered in the name of, Manufacturers
                    National Bank of Detroit, 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 and November 1, 1990 (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-1990 (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
                    and as of November 1, 1990 (hereinafter called the "Monroe
                    Contract"), between the Company and Monroe.
<PAGE>   9
 
                                        7
 
                      The bonds of Series KKP No. 12 shall be issued as
                    registered bonds without coupons in denominations of a
                    multiple of $5,000. The bonds of Series KKP No. 12 shall be
                    issued in the aggregate principal amount of $50,745,000,
                    shall mature on September 1, 2020 and shall bear interest,
                    payable semi-annually on March 1 and September 1 of each
                    year (commencing March 1, 1991), at the rate of 7.65%, 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. 12 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. 12 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. 12
                    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.
                    12, 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 March 1, 1991, in which case
                    interest shall be payable from November 1, 1990.

                      The bonds of Series KKP No. 12 in definitive form shall
                    be, at the election of the Company, fully engraved or shall
                    be lithographed or printed in authorized denominations 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. 12). Until bonds of Series KKP No.
                    12 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. 12 in temporary form, as provided in Section
                    10 of Article II of the Indenture. Temporary bonds of Series
                    KKP No. 12, if any, may be printed and may be issued in
                    authorized denominations in substantially the form of
                    definitive bonds of Series KKP No. 12, but with such
                    omissions, insertions and variations as may be appropriate
                    for temporary bonds, all as may be determined by the
                    Company.

                      Bonds of Series KKP No. 12 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 cancellation 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.
                    12 shall in the same manner be exchangeable for a like
                    aggregate principal amount of bonds of Series KKP No. 12
                    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. 12, during any period of ten days next preceding any
                    redemption date for such bonds.

                      Bonds of Series KKP No. 12, 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.
<PAGE>   10
                                       8

                    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. 12 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. 12 shall be redeemed on
OF BONDS          the respective dates and in the respective principal amounts
OF SERIES KKP     which correspond to the redemption dates for, and the
NO. 12            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. 12 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. 12
                  on the same date as it gives notice of redemption of Monroe
                  Revenue Bonds to the Monroe Trust Indenture Trustee.
 
REDEMPTION          SECTION 3. In the event of an Event of Default under the
OF BONDS OF       Monroe Trust Indenture and the acceleration of all Monroe
SERIES KKP        Revenue Bonds, the bonds of Series KKP No. 12 shall be
NO. 12 IN EVENT   redeemable in whole upon receipt by the Trustee of a written
OF ACCELERATION   demand (hereinafter called a "Redemption Demand") from the
OF MONROE         Monroe Trust Indenture Trustee stating that there has
REVENUE BONDS.    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.
<PAGE>   11
 
                                        9

                   Each bond of Series KKP No. 12 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. 12,
                   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.
 
FORM OF BONDS      SECTION 5. The bonds of Series KKP No. 12 and the form of
OF SERIES KKP    Trustee's Certificate to be endorsed on such bonds shall be
NO. 12.          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. 12, 7.65% DUE SEPTEMBER 1, 2020
 
                    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 and November 1, 1990 between the County of
                  Monroe, Michigan and Manufacturers National Bank of Detroit,
                  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
                  National Bank of Detroit, 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 November 1, 1990,
                  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 March 1, 1991), 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 and November 1, 1990 (hereinafter
                  called the "Monroe Trust Indenture"), between the County of
                  Monroe, Michigan (hereinafter called "Monroe"), and
                  Manufacturers National Bank of Detroit, 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-1990 (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, 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
                  or a Vice President, 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. 12, limited
                  to an aggregate principal amount of $50,745,000, 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 November 1, 1990)
                  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 November 1, 1990, 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. 12, 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 November 1, 1990,
                  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. 12 (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. 12 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              This bond is one of the bonds, of the series designated
TRUSTEE'S          therein, described in the within-mentioned Indenture.
CERTIFICATE.
 
                                              BANKERS TRUST COMPANY,
 
                                                             as Trustee
 
                                              By ...........................
                                                Authorized Officer
 
                                    PART II.
                           RECORDING AND FILING DATA
 
RECORDING AND          The Original Indenture and indentures supplemental
FILING OF ORIGINAL thereto have been recorded and/or filed and Certificates of
INDENTURE.         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 Original
FILING OF          Indenture, indentures supplemental thereto heretofore
SUPPLEMENTAL       entered into have been recorded as a real estate mortgage
INDENTURES.        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 Scretary 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 Ad-        September 1, 1947
                                                              ditional 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
</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 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                               
                         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 and  December 15, 1975       
                                                                       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 and  July 15, 1976           
                                                                       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                                   
</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>
                         July 1, 1977..............................  Series NNP Nos. 1-7 Bonds and  October 1, 1977           
                                                                       Subject Properties                                     
                         October 1, 1977...........................  Series GGP Nos. 8-22 Bonds     June 1, 1978              
                                                                       and Series OOP Nos. 1-17                               
                                                                       Bonds and Subject                                      
                                                                       Properties                                             
                         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 and  June 1, 1983              
                                                                       Subject Properties                                     
                         June 1, 1983..............................  1981 Series AP Nos. 15-16 and  October 1, 1984           
                                                                       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                                     
</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>
                         October 15, 1985..........................  Series KKP No. 9 Bonds and     April 1, 1986             
                                                                       Subject Properties                                     
                         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                  Janaury 31, 1987          
                         January 31, 1987..........................  1987 Series A                  April 1, 1987             
                         April 1, 1987.............................  1987 Series B and 1987 Series  August 15, 1987           
                                                                       C                                                      
                         August 15, 1987...........................  1987 Series D and 1987 Series  November 30, 1987         
                                                                       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                                              
</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.
 
                     Further, pursuant to the terms and provisions of the
                 Original Indenture, a Supplemental Indenture dated as of
                 February 15, 1990 providing for the terms of bonds to be
                 issued thereunder of 1990 Series A, 1990 Series B, 1990
                 Series C, 1990 Series D, 1990 Series E and 1990 Series F 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 February 16,
                 1990 (Filing No. 01086B), has been filed and recorded in the
                 Office of the Interstate Commerce Commission (Recordation
                 No. 5485-PPP), 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.....................  February 16, 1990            2527            243-308
                        Huron.......................  February 16, 1990             536            253-318
                        Ingham......................  February 16, 1990            1802           1263-1328
                        Lapeer......................  February 16, 1990             681             14-79
                        Lenawee.....................  February 16, 1990            1117            482-547
                        Livingston..................  February 16, 1990            1391           0791-0856
                        Macomb......................  February 16, 1990           04817            217-282
                        Mason.......................  February 16, 1990             389            392-457
                        Monroe......................  February 16, 1990            1109           0521-0586
                        Oakland.....................  February 16, 1990           11263            383-448
                        Sanilac.....................  February 16, 1990             408            660-725
                        St. Clair...................  February 16, 1990             950            838-903
                        Tuscola.....................  February 16, 1990             600            176-241
                        Washtenaw...................  February 16, 1990            2385            517-582
                        Wayne.......................  February 16, 1990           24536            582-647
</TABLE>
<PAGE>   20
 
                                       18
 
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.        BB, CC, DDP Nos. 1-8, FFR Nos. 1-11, GGP Nos. 1-6 and 8-16,
                    IIP Nos. 1-6 and 8-14, JJP Nos. 1-6, KKP Nos. 1-6, LLP Nos.
                    1-6 and 8-14, NNP Nos. 1-6 and 8-14, OOP Nos. 1-9, QQP Nos.
                    1-8 and 10-15 and TTP Nos. 1-7, 1980 Series A, 1980 Series
                    CP Nos. 1-12 and 13-17, 1980 Series DP Nos. 1-11 and 1981
                    Series AP Nos. 1-5 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, October 1, 1974, January 15, 1975, November 1, 1975,
                    February 1, 1976, June 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, October
                    1, 1977, June 1, 1978, October 1, 1977, July 1, 1979,
                    January 1, 1980, August 15, 1980 and November 1, 1981 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.
<PAGE>   21
 
                                       19
 
                                    PART IV.
                                 MISCELLANEOUS.

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.

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 or 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/ L. L. LOOMANS
                                                   ----------------------------
                                                         L. L. Loomans
                                                   Vice President and Treasurer
 
EXECUTION.          Attest:

                         /s/ SUSAN M. BEALE
                    -------------------------------
                            Susan M. Beale
                              Secretary
                        
                    Signed, sealed and delivered by THE DETROIT
                    EDISON COMPANY, in the presence of

                           /s/ PEARL KOTTER
                    -------------------------------                         
                             Pearl Kotter

                         /s/ BETTY M. HANSEN
                    -------------------------------
                           Betty M. Hansen
                    
                    (Corporate Seal)
                                                 BANKERS TRUST COMPANY,

                                                 By   /s/ BARBARA A. JOINER
                                                   ---------------------------- 
                                                        Barbara A. Joiner
                                                         Vice President
                    Attest:
                    
                         /s/ SANDRA SHIRLEY
                    -------------------------------
                          Sandra Shirley
                        Assistant Secretary
  
                    Signed, sealed and delivered by
                    BANKERS TRUST COMPANY, in the
                    presence of

                         /s/ ERIC M. HAWNER
                    -------------------------------
                           Eric M. Hawner

                        /s/ Y. PATRICIA BLUE
                    -------------------------------
                         Y. Patricia Blue
<PAGE>   22
 
                                       20
 
                    STATE OF MICHIGAN
                                          SS.:
                    COUNTY OF WAYNE

ACKNOWLEDGMENT      On this 6th day of November, 1990, before me, the
OF EXECUTION        subscriber, a Notary Public within and for the County of
BY COMPANY.         Wayne, in the State of Michigan, personally appeared L. L.
                    Loomans, 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 Vice President and
                    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
                    L. L. Loomans, acknowledged said instrument to be the free
                    act and deed of said corporation.

                                                   /s/ JANET A. SCULLEN
                    (Notarial Seal)            ------------------------------
                                               Janet A. Scullen, Notary Public
                                                     Macomb County, MI
                                                 (Acting in Wayne County)
                                            My Commission Expires March 30, 1993
 

                    STATE OF NEW YORK
                                       SS.:
                    COUNTY OF NEW YORK

ACKNOWLEDGMENT      On this 5th day of November, 1990, before me, the
OF EXECUTION        subscriber, a Notary Public within and for the County of New
BY TRUSTEE.         York, in the State of New York, personally appeared Barbara
                    A. Joiner, to me personally known, who, being by me duly
                    sworn, did say that she does business at Four Albany Street,
                    New York, New York 10015, and is Vice President of BANKERS
                    TRUST COMPANY, one of the corporations described in and
                    which executed the foregoing instrument; that she 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 she subscribed her name thereto by like
                    authority; and said Barbara A. Joiner acknowledged said
                    instrument to be the free act and deed of said corporation.

                    (Notarial Seal)
                                                   /s/ DESIREE MARSHALL
                                          ------------------------------------
                                                     Desiree Marshall
                                             Notary Public, State of New York
                                                      No. 24-4885294
                                                Qualified in Kings County
                                          Certificate filed in New York County
                                          Commission Expires February 17, 1991
<PAGE>   23
 
                                       21
 
                   STATE OF MICHIGAN
                                      SS.:
                   COUNTY OF WAYNE

AFFIDAVIT AS TO    L. L. Loomans, being duly sworn, says: that he is the Vice
CONSIDERATION      President and 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/ L. L. LOOMANS
                                                   ---------------------------
                                                           L. L. Loomans

                   Sworn to before me this 6th day of
                   November, 1990
 
                             /s/ JANET A. SCULLEN
                   -------------------------------------
                       Janet A. Scullen, Notary Public
                              Macomb County, MI
                          (Acting in Wayne County)
                   My Commission Expires March 30, 1993

                   (Notarial Seal)

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