Document:

Unassociated Document

Exhibit
4-4

 

 

PENNSYLVANIA
POWER COMPANY

 

to

 

CITIBANK,
N.A., 

                        As
Trustee

 

___________

 

Fiftieth
Supplemental 

Indenture

 

Providing
among other things for

 

First
Mortgage Bond, Pledge Series A of 2004 due 2033

 

Dated as of
December 1, 2004

 

 

    FIFTIETH
SUPPLEMENTAL INDENTURE, dated as of December 1, 2004, made and entered into
by and between PENNSYLVANIA POWER COMPANY, a corporation organized and existing
under the laws of the Commonwealth of Pennsylvania, with its principal place of
business in Akron, Summit County, Ohio (hereinafter sometimes referred to as the
“Company”) and CITIBANK, N.A., a national banking association incorporated and
existing under the laws of the United States of America, with its principal
office in the Borough of Manhattan, The City, County and State of New York
(hereinafter sometimes referred to as the “Trustee”), as trustee under the
Indenture dated as of November 1, 1945 between the Company and CITIBANK, N.A.
(successor to The First National Bank of The City of New York), as trustee, as
supplemented and amended by Supplemental Indentures between the Company and the
Trustee, dated as of May 1, 1948, as of March 1, 1950, as of February 1, 1952,
as of October 1, 1957, as of September 1, 1962, as of June 1, 1963, as of June
1, 1969, as of May 1, 1970, as of April 1, 1971, as of October 1, 1971, as of
May 1, 1972, as of December 1, 1974, as of October 1, 1975, as of September 1,
1976, as of April 15, 1978, as of June 28, 1979, as of January 1, 1980, as of
June 1, 1981, as of January 14, 1982, as of August 1, 1982, as of December 15,
1982, as of December 1, 1983, as of September 6, 1984, as of December 1, 1984,
as of May 30, 1985, as of October 29, 1985, as of August 1, 1987, as of May 1,
1988, as of November 1, 1989, as of December 1, 1990, as of September 1, 1991,
as of May 1, 1992, as of July 15, 1992, as of August 1, 1992, as of May 1, 1993,
as of July 1, 1993, as of August 31, 1993, as of September 1, 1993, as of
September 15, 1993, as of October 1, 1993, as of November 1, 1993, as of August
1, 1994, as of September 1, 1995, as of June 1, 1997, as of June 1, 1998, as of
September 29, 1999, as of November 15, 1999 and as of June 1, 2001 (said
Indenture as so supplemented and amended, and as hereby supplemented and
amended, being hereinafter sometimes referred to as the
“Indenture”);

 

WHEREAS, the
Company and the Trustee have executed and delivered the Indenture for the
purpose of securing an issue of bonds of the First Series described therein and
such additional bonds as may from time to time be issued under and in accordance
with the terms of the Indenture, the aggregate principal amount of bonds to be
secured thereby being not limited, and the Indenture fully describes and sets
forth the property conveyed thereby and is filed with the Secretary of the
Commonwealth of Pennsylvania and the Secretary of State of the State of Ohio and
will be of record in the office of the recorder of deeds of each county in the
Commonwealth of Pennsylvania and the State of Ohio in which this Fiftieth
Supplemental Indenture is to be recorded and is on file at the corporate trust
office of the Trustee, above referred to; and 

 

WHEREAS, the
Indenture provides for the issuance of bonds thereunder in one or more series
and the Company, by appropriate corporate action in conformity with the terms of
the Indenture, has duly determined to create a series of bonds under the
Indenture, to be designated as “First Mortgage Bonds, Pledge Series A of 2004
due 2033” (hereinafter sometimes referred to as the “bonds of the 2033 Series”),
the bonds of which are to bear interest at the same rate as that of the Ohio
Water Development Authority Pollution Control Revenue Refunding Bonds, Series
1999-A (Pennsylvania Power Company Project) referred to herein, and are to
mature on June 1, 2033;

 

AND WHEREAS the
bonds of the 2033 Series and the Trustee’s Authentication Certificate thereon
are to be substantially in the following form, to wit:

 

 

[FORM OF BOND OF
THE 2033 SERIES]

 

 

[FACE]

 

    This
Bond is not transferable except to a successor to XL Capital Assurance Inc.
under the Insurance Agreement, dated as of December 1, 2004, between the Company
and XL Capital Assurance inc., or in compliance with a final order of a court of
competent jurisdiction in connection with any bankruptcy or reorganization
proceeding of the Company.

 

PENNSYLVANIA
POWER COMPANY

 

FIRST MORTGAGE
BOND, PLEDGE SERIES A OF 2004 DUE 2033

 

$                                                                                                                                No.___________

 

PENNSYLVANIA POWER
COMPANY, a Pennsylvania corporation (hereinafter called the “Company”), for
value received, hereby promises to pay
to   _______________________________________, or registered
assigns, the principal sum
of   _____________________________________________ Dollars
on June 1, 2033, and to pay the registered holder hereof interest on said
sum from the Initial Interest Accrual Date (hereinbelow defined) at the rate
from time to time borne by the State of Ohio, Ohio Water Development Authority
Pollution Control Revenue Refunding Bonds, Series 1999-A (Pennsylvania Power
Company Project) (the “Authority Bonds”) issued on behalf of the Company by the
Ohio Water Development Authority (the “Authority”) under the Trust Indenture,
dated as of December 1, 1999, as amended and restated as of
December 1, 2004 (as so amended and restated, the “Authority Bond
Indenture”), between the Authority and J.P. Morgan Trust Company, National
Association, as trustee (such trustee and any successor trustee being
hereinafter referred to as the “Authority Bond Trustee”); provided,
however, that in no event shall the rate of interest borne by the Bonds
of this series exceed 10% per annum. The principal of and interest on this bond
shall be payable at the office or agency of the Company in the Borough of
Manhattan, The City, County and State of New York, or in the City of Akron,
State of Ohio, designated for that purpose, 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.

 

The provisions of
this bond are continued on the reverse hereof and such continued provisions
shall for all purposes have the same effect as though fully set forth at this
place.

 

This bond shall not
be valid or become obligatory for any purpose unless and until it shall have
been authenticated by the execution by the Trustee or its successor in trust
under the Indenture of the certificate hereon.

 

IN WITNESS WHEREOF,
PENNSYLVANIA POWER COMPANY has caused this bond to be executed in its name by
its President or one of its Vice Presidents by his or her signature or a
facsimile thereof, and its corporate seal or a facsimile thereof to be affixed
hereto or imprinted hereon and attested by its Corporate Secretary or one of its
Assistant Corporate Secretaries by his or her signature or a facsimile
thereof.

 

2

 

Dated:

PENNSYLVANIA POWER
COMPANY

	 	 	 	 
	BY 	 	 	
	
      

      	 	 	
	Vice
      President	 	 	

Attest:

 

 

	 	 	 	 
	 	 	 	 
	
      

      	 	 	
	Corporate
      Secretary	 	 	

 

[FORM OF TRUSTEE'S
AUTHENTICATION CERTIFICATE]

 

TRUSTEE'S
AUTHENTICATION CERTIFICATE

 

This bond is one of
the bonds, of the series designated therein, described in the within-mentioned
Indenture.

	 	 	 
	 	CITIBANK,
      N.A.
	 
 	    
 	
       as
      Trustee,

      
 

		By:  	 
	 	
      

      
	 	Authorized
      Officer 

 

3

[FORM OF BOND OF
THE 2033 SERIES]

[REVERSE]

PENNSYLVANIA
POWER COMPANY

FIRST MORTGAGE
BOND, PLEDGE SERIES A OF 2004 DUE 2033

 

This bond is one of
the bonds issued and to be issued from time to time under and in accordance with
and all secured by an indenture dated as of November 1, 1945, and indentures
supplemental thereto, given by the Company to Citibank, N.A. (successor to The
First National Bank of The City of New York), as trustee (hereinafter referred
to as the “Trustee”), to which indenture and indentures supplemental thereto
(hereinafter referred to collectively as the “Indenture”) reference is hereby
made for a description of the property mortgaged and pledged, the nature and
extent of the security and the rights, duties and immunities thereunder of the
Trustee and the rights of the holders of the bonds and coupons and of the
Trustee and of the Company in respect of such security, and the limitations on
such rights. By the terms of the Indenture, the bonds to be secured thereby are
issuable in series which may vary as to date, amount, date of maturity, rate of
interest, terms of redemption and in other respects as in the Indenture
provided.

 

The Indenture
contains provisions permitting the Company and the Trustee, with the consent of
the holders of not less than seventy-five per centum in principal amount of the
bonds (exclusive of bonds disqualified by reason of the Company’s interest
therein) at the time outstanding, including, if more than one series of bonds
shall be at the time outstanding, not less than sixty per centum in principal
amount of each series affected, to effect, by an indenture supplemental to the
Indenture, modifications or alterations of the Indenture and of the rights and
obligations of the Company and the rights of the holders of the bonds and
coupons; provided, however, that no such modification or alteration shall be
made without the written approval or consent of the holder hereof which will (a)
extend the maturity of this bond or reduce the rate or extend the time of
payment of interest hereon or reduce the amount of the principal hereof or
reduce any premium payable on the redemption hereof, or (b) permit the creation
of any lien, not otherwise permitted, prior to or on a parity with the lien of
the Indenture, or (c) reduce the percentage of the principal amount of the bonds
upon the approval or consent of the holders of which modifications or
alterations may be made as aforesaid.

 

The bonds of this
series are issued and to be issued in order to provide security to XL Capital
Assurance Inc., a New York domiciled stock insurance corporation (“the
Insurer”) in connection with its issuance of a municipal bond insurance policy
(the “Policy”) in favor of the holders of the Authority Bonds pursuant to the
Insurance Agreement (the “Insurance Agreement”) dated as of December 1,
2004 between the Insurer and the Company. In order to provide monies to fund a
loan made by the Authority to the Company pursuant to a Waste Water Facilities
and Solid Waste Facilities Loan Agreement dated as of December 1, 1999
between the Authority and the Company (the “Loan Agreement”), the Authority has
issued the Authority Bonds under and pursuant to the Authority Indenture.
Payments made by the Company of principal and interest on the bonds of this
series are intended to be sufficient to reimburse the Insurer for any payments
of principal and interest made by the Insurer on the Authority Bonds pursuant to
the Policy.

 

4

The bonds of this
series are not transferable except (i) as required to effect an assignment to a
successor of the Insurer under the Insurance Agreement or (ii) in compliance
with a final order of a court of competent jurisdiction in connection with any
bankruptcy or reorganization proceeding of the Company.

 

The “Initial
Interest Payment Date” on the bonds of this series shall be the date one (1)
business day following the receipt by the Insurer of Notice of Nonpayment (as
defined in the Policy) of interest on the Authority Bonds when such interest
shall have come Due for Payment (as defined in the Policy), Notice of which the
Insurer shall provide to the Company and the Trustee, and the “Initial Interest
Accrual Date” shall be the date six months prior to such Initial Interest
Payment Date. The next Interest Payment Date shall be the date six months after
the Initial Interest Payment Date, and each successive Interest Payment Date
shall be the date six months after the immediately preceding Interest Payment
Date; provided, however, that the last Interest Payment Date shall
be the date of maturity of the bonds of this series and the interest so payable
on such maturity date shall accrue from the immediately preceding Interest
Payment Date to but not including such maturity date. Notwithstanding anything
herein to the contrary, the amount of interest payable on the bonds of this
series on any Interest Payment Date (including the Initial Interest Payment
Date) shall not exceed the amount actually paid to holders of Authority Bonds by
the Insurer under the Policy in respect of the Nonpayment of interest Due for
Payment on the Authority Bonds over the period from the immediately preceding
Interest Payment Date to and including such Interest Payment Date (or if such
Interest Payment Date is the Initial Interest Payment Date, then from the
Initial Interest Accrual Date to such Interest Payment Date).

 

The Company’s
obligation to make payments with respect to the principal of and/or interest on
the bonds of this series shall be fully or partially satisfied and discharged to
the extent that, at the time any such payment shall be due, the corresponding
amount then due of principal of and/or interest on the Authority Bonds shall
have been fully or partially paid (other than by the application of the proceeds
of any payment by the Insurer under the Policy), as the case may be, or there
shall have been deposited with the Authority Trustee pursuant to the Authority
Indenture trust funds sufficient under such indenture to fully or partially pay,
as the case may be, the corresponding amount then due of principal of and/or
interest on the Authority Bonds (other than by the application of the proceeds
of any payment by the Insurer under the Policy). Notwithstanding anything
contained herein or in the Indenture to the contrary, the Company shall be
obligated to make payments with respect to the principal of and/or interest on
the bonds of this series only to the extent that the Insurer has made a payment
with respect to the Authority Bonds under the Policy.

 

Upon payment of the
principal of and interest due on the Authority Bonds, whether at maturity or
prior to maturity by acceleration, redemption or otherwise, or upon provision
for the payment thereof having been made in accordance with the Authority
Indenture (other than by the application of the proceeds of any payment by the
Insurer under the Policy), the bonds of this series in a principal amount equal
to the principal amount of Authority Bonds so paid or for which such provision
for payment has been made shall be deemed fully paid, satisfied and discharged
and the obligations of the Company thereunder shall be terminated and such bonds
of this series shall be surrendered to and canceled by the Trustee.

 

5

The bonds of this
series are subject to mandatory redemption, in whole or in part, as the case may
be, on each date that Authority Bonds are to be redeemed. The principal amount
of the Bonds of this series to be redeemed on any such date shall be equal to
the principal amount of Authority Bonds called for redemption on that date. All
redemptions of bonds of this series shall be at 100% of the principal amount
thereof, plus accrued interest to the redemption date.

 

In case of certain
defaults as specified in the Indenture, the principal of this bond may be
declared or may become due and payable on the conditions, at the time, in the
manner and with the effect provided in the Indenture.

 

No recourse shall
be had for the payment of the principal of or interest on this bond, or for any
claim based hereon, or otherwise in respect hereof or of the Indenture, to or
against any incorporator, stockholder, director or officer, past, present or
future, as such, of the Company, or of any predecessor or successor company,
either directly or through the Company, or such predecessor or successor
company, or otherwise, under any constitution or statute or rule of law, or by
the enforcement of any assessment or penalty, or otherwise, all such liability
of incorporators, stockholders, directors and officers, as such, being waived
and released by the holder and owner hereof by the acceptance of this bond and
being likewise waived and released by the terms of the Indenture.

 

The bonds of this
series are issuable only as registered bonds without coupons in denominations of
$1,000 and, if higher, any authorized multiple of $1,000. Except as may be
stated in any legend written on the face of this bond, this bond is transferable
by the registered holder hereof, in person or by attorney duly authorized, at
the corporate trust office of the Trustee, in the Borough of Manhattan, The
City, County and State of New York, or at such other place or places as the
Company may designate by resolution of the Board of Directors, but only in the
manner and upon the conditions prescribed in the Indenture, upon the surrender
and cancellation of this bond and the payment of charges for transfer, and upon
any such transfer a new registered bond or bonds, without coupons, of the same
series and maturity date and for the same aggregate principal amount, in
authorized denominations, will be issued to the transferee in exchange herefor.
The Company, the Trustee and any agent designated to make transfers or exchanges
of bonds of this series may deem and treat the person in whose name this bond is
registered as the absolute owner for all purposes including the purpose of the
receipt of payment. Registered bonds of this series shall be exchangeable at
said corporate trust office of the Trustee, or at such other place or places as
the Company may designate by resolution of the Board of Directors, for
registered bonds of other authorized denominations having the same aggregate
principal amount, in the manner and upon the conditions prescribed in the
Indenture. Neither the Company nor the Trustee nor any other agent designated
for such purpose shall be required to make transfers or exchanges of bonds of
this series during the period between any interest payment date for such series
and the record date next preceding such interest payment date. Notwithstanding
any provisions of the Indenture, no charge shall be made upon any transfer or
exchange of bonds of this series other than for any tax or taxes or other
governmental charge required to be paid by the Company.

6

[END OF FORM OF
BOND OF THE 2033 SERIES]

 

 

AND WHEREAS all
acts and things necessary to make the bonds, when authenticated by the Trustee
and issued as in the Indenture provided, the valid, binding and legal
obligations of the Company, and to constitute the Indenture a valid, binding and
legal instrument for the security thereof, have been done and performed, and the
creation, execution and delivery of the Indenture and the creation, execution
and issue of the bonds subject to the terms hereof and of the Indenture, have in
all respects been duly authorized;

 

NOW THEREFORE, in
consideration of the premises, and of the acceptance and purchase by holders
thereof of the bonds issued and to be issued under the Indenture, and the sum of
One Dollar duly paid by the Trustee to the Company, and of other good and
valuable consideration, the receipt of which is hereby acknowledged, and for the
purpose of securing the due and punctual payment of the principal of and
premium, if any, and interest on all bonds now outstanding under the Indenture
and the $5,200,000 principal amount of bonds of the 2033 Series proposed
presently to be issued and all other bonds which shall be issued under the
Indenture, and for the purpose of securing the faithful performance and
observance of all covenants and conditions therein and in any supplemental
indenture set forth, the Company has given, granted, bargained, sold, released,
transferred, assigned, hypothecated, pledged, mortgaged, confirmed, created a
security interest in, set over, warranted, aliened and conveyed and by these
presents does give, grant, bargain, sell, release, transfer, assign,
hypothecate, pledge, mortgage, confirm, create a security interest in, set over,
warrant, alien and convey unto Citibank, N.A., as Trustee as provided in the
Indenture, and its successor or successors in the trust thereby and hereby
created and to its or their assigns forever, all the right, title and interest
of the Company in and to the property described in the Indenture (and not
therein expressly excepted), together (subject to the provisions of Article X of
the Indenture) with the tolls, rents, revenues, issues, earnings, income,
products and profits thereof, and does hereby confirm that the Company will not
cause or consent to a partition, whether voluntary or through legal proceedings,
of property, whether herein described or heretofore or hereafter acquired, in
which its ownership shall be as a tenant in common except as permitted by and in
conformity with the provisions of the Indenture and particularly of said Article
X thereof.

 

Together with all
and singular the tenements, hereditaments and appurtenances belonging or in any
wise appertaining to the premises, property, franchises and rights, or any
thereof, referred to in the Indenture (and not therein expressly excepted) with
the reversion and reversions, remainder and remainders and (subject to the
provisions of Article X of the Indenture) the tolls, rents, revenues, issues,
earnings, income, products and profits thereof, and all the estate, right, title
and interest and claim whatsoever, at law as well as in equity, which the
Company now has or may hereafter acquire in and to such premises, property,
franchises and rights and every part and parcel thereof, subject to “excepted
encumbrances” of the original Indenture.

 

TO HAVE AND TO HOLD
all said premises, property, franchises and rights hereby conveyed, assigned,
pledged, or mortgaged, or intended so to be, unto the Trustee, its successor or
successors in trust, and their assigns forever.

 

7

BUT IN TRUST,
NEVERTHELESS, with power of sale, for the equal and proportionate benefit and
security of the holders of all bonds now or hereafter authenticated and
delivered under the Indenture, and interest coupons appurtenant thereto,
pursuant to the provisions thereof, and for the enforcement of the payment of
said bonds and coupons when payable and the performance of and compliance with
the covenants and conditions of the Indenture, without any preference,
distinction or priority as to lien or otherwise of any bond or bonds over others
by reason of the difference in time of the actual authentication, delivery,
issue, sale or negotiation thereof or for any other reason whatsoever, except as
otherwise expressly provided in the Indenture; and so that each and every bond
now or hereafter authenticated and delivered thereunder shall have the same
lien, and so that the principal of and premium, if any, and interest on every
such bond shall, subject to the terms of the Indenture, be equally and
proportionately secured thereby and hereby, as if it had been made, executed,
authenticated, delivered, sold and negotiated simultaneously with the execution
and delivery of the Indenture.

 

AND IT IS EXPRESSLY
DECLARED that all bonds authenticated and delivered and secured thereunder and
hereunder are to be issued, authenticated and delivered, and all said premises,
property, franchises and rights hereby and by the Indenture conveyed, assigned,
pledged or mortgaged, or intended so to be (including all the right, title and
interest of the Company in and to any and all premises, property, franchises and
rights of every kind and description, real, personal and mixed, tangible and
intangible, thereafter acquired by the Company and whether or not specifically
described in the Indenture, except any therein expressly excepted), are to be
dealt with and disposed of, under, upon and subject to the terms, conditions,
stipulations, covenants, agreements, trusts, uses and purposes in the Indenture
expressed, and it is hereby agreed as follows:

 

 

SECTION 1.
There is hereby created a series of bonds designated Pledge Series A of 2004 due
2033, which shall also bear the descriptive title “First Mortgage Bond” and the
form of such series shall be substantially as hereinbefore set forth. Bonds of
the 2033 Series shall mature on June 1, 2033. The bonds of the 2033 Series
may be issued only as registered bonds without coupons in denominations of
$1,000 or, if higher, in such multiples of $1,000 as the Board of Directors
shall approve, and delivery to the Trustee for authentication shall be
conclusive evidence of such approval. The serial numbers of bonds of the 2033
Series shall be such as may be approved by any officer of the Company, the
execution thereof by any such officer, by facsimile signature or otherwise, to
be conclusive evidence of such approval. Bonds of the 2033 Series shall bear
interest from the Initial Interest Accrual Date (as defined in the form of the
bonds of the 2033 Series hereinabove set forth) at the rate set forth in the
form thereof hereinbefore set forth. Principal or redemption price of and
interest on said bonds shall be payable 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 at the office or agency of the Company in the Borough of
Manhattan, The City, County and State of New York, designated for that
purpose.

 

Bonds of the 2033
Series shall be exchangeable and transferable as and to the extent set forth in
the form thereof hereinbefore set forth.

 

8

The bonds of the
2033 Series shall be redeemable as set forth in the form thereof hereinbefore
set forth in whole or in part, prior to maturity, upon notice given by mailing
the same, postage pre-paid, at least thirty days and not more than forty-five
days prior to the date fixed for redemption to each registered holder of a bond
to be redeemed at the last address of such holder appearing on the registry
books. Redemption of the bonds of the 2033 Series shall be at the principal
amount thereof, plus accrued interest thereon to the date fixed for redemption
and such amount shall become due and payable on the date fixed for such
redemption.

 

 

SECTION 2.
Bonds of the 2033 Series shall be deemed to be paid and no longer outstanding
under the Indenture to the extent that Authority Bonds (as defined in the form
of bonds of the 2033 Series hereinbefore set forth) which are outstanding from
time to time under the Authority Bond Indenture (as defined in the form of bonds
of the 2033 Series hereinbefore set forth) are paid or deemed to be paid (other
than by the application of the proceeds of any payment by the Insurer (as
defined in the form of the bonds of the 2033 Series hereinbefore set forth)
under the Policy (as defined in the form of the bonds of the 2033 Series
hereinbefore set forth)) and are no longer outstanding and the Trustee has been
notified to such effect by the Company.

 

 

SECTION 3. The
Company covenants and agrees that the provisions of Section 3 of the Fifth
Supplemental Indenture dated as of September 1, 1962, which are to remain in
effect so long as any bonds of the Sixth Series shall be outstanding under the
Indenture, shall remain in full force and effect so long as any bonds of the
2033 Series shall be outstanding under the Indenture.

 

 

SECTION 4. As
supplemented and amended by this Supplemental Indenture, the Indenture is in all
respects ratified and confirmed, and the Indenture and this Supplemental
Indenture shall be read, taken and construed as one and the same
instrument.

 

 

SECTION 5. Nothing
in this Supplemental Indenture contained shall, or shall be construed to, confer
upon any person other than a holder of bonds issued under the Indenture, the
Company and the Trustee any right or interest to avail himself of any benefit
under any provision of the Indenture or of this Supplemental
Indenture.

 

 

SECTION 6. The
Trustee assumes no responsibility for or 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 and statements contained herein,
all of which recitals and statements are made solely by the
Company.

 

9

 

SECTION 7. This
Supplemental Indenture may be executed in several counterparts and all such
counterparts executed and delivered, each as an original, shall constitute but
one and the same instrument.

 

 

PENNSYLVANIA POWER
COMPANY hereby constitutes and appoints Richard H. Marsh to be its attorney for
it and in its name as and for its corporate act and deed to acknowledge this
Supplemental Indenture before any person having authority to take such
acknowledgement, to the intent that the same may be duly recorded.

 

CITIBANK, N.A.
hereby constitutes and appoints P. De Felice to be its attorney for it and in
its name as and for its corporate act and deed to acknowledge this Supplemental
Indenture before any person having authority to take such acknowledgement, to
the intent that the same may be duly recorded.

10

 

IN WITNESS WHEREOF,
PENNSYLVANIA POWER COMPANY has caused its corporate name to be hereunto affixed,
and this instrument to be signed and sealed by its President or a Vice
President, and its corporate seal to be attested by its Corporate Secretary or
an Assistant Corporate Secretary for and in its behalf, in the City of Akron,
County of Summit and State of Ohio and CITIBANK, N.A., in token of its
acceptance of the trust, has caused its corporate name to be hereunto affixed,
and this instrument to be signed by a Vice President and its corporate seal to
be affixed and attested by its Assistant Vice President in The City of New York,
County of New York and State of New York, all as of the day and year first above
written.

 

	 	 	 
	 	PENNSYLVANIA
      POWER COMPANY,
	 
 	 
 	 
 
		By:  	 
	 	
      

      
	 	
      Richard H.
      Marsh

      Senior Vice
      President and 

      Chief
      Financial
Officer 

 

ATTEST:

 

	 	 	 	 
	By:	 	 	
	 
      

      	 	 	
	     
      David W. Whitehead
      Corporate
      Secretary	 	 	

 

	
      Signed,
      sealed and delivered by

      PENNSYLVANIA
      POWER COMPANY

      in
      the presence of:
	 	 	 [SEAL]
	
       

       
	 	 	 
	
      

      Edward
      J. Morgan	 	 	
		 	 	

 

	 	 	 	 
		 	 	
	
      

      James G. Smith	 	 	
		 	 	

11

 

Corporate Secretary
for and in its behalf, in the City of Akron, County of Summit and State of Ohio
and CITIBANK, N.A., in token of its acceptance of the trust, has caused its
corporate name to be hereunto affixed, and this instrument to be signed by a
Vice President and its corporate seal to be affixed and attested by its
Assistant Vice President in The City of New York, County of New York and State
of New York, all as of the day and year first above written.

 

 

	 	 	 
	 	PENNSYLVANIA
      POWER COMPANY,
	 
 	 
 	 
 
		By:  	 
	 	
      
      

      Richard H. Marsh

      Senior Vice
      President and

        
      Chief Financial Officer

	 	
       

 

ATTEST:

 

	 	 	 	 
	By:	 	 	
	
      
      

           David W. Whitehead

          
      Corporate Secretary
	 	 	
		 	 	

 

	
      Signed,
      sealed and delivered by

      PENNSYLVANIA
      POWER COMPANY

      in
      the presence of:
	 	 	 
	
       

       

       
	 	 	[Seal]
	
      

      Edward
      J. Morgan	 	 	
		 	 	

 

	 	 	 	 
		 	 	
	
      

      James
      G. Smith	 	 	
		 	 	

STATE OF
OHIO           )

                             
)    ss:

COUNTY OF
SUMMIT    )

 

BE IT REMEMBERED
that, on the ____ day of November, 2004 before me, the undersigned, a Notary
Public in said County of Summit, State of Ohio, personally appeared David W.
Whitehead, who being duly sworn according to law, doth depose and say that he
was personally present and did see the common or corporate seal of the above
named PENNSYLVANIA POWER COMPANY affixed to the foregoing Supplemental
Indenture; that the seal so affixed is the common or corporate seal of the said
Pennsylvania Power Company and was so affixed by the authority of the said
corporation as the act and deed thereof; that the above named Richard H. Marsh
is the Senior Vice President and Chief Financial Officer of said corporation and
did sign the said Supplemental Indenture as such in the presence of this
deponent; that this deponent is the Corporate Secretary of Pennsylvania Power
Company, and that the name of this deponent above signed is attestation of the
due execution of the said Supplemental Indenture is in this deponent’s own
proper handwriting.

 

12

 

 

Sworn to
and subscribed before me this ____ day of November, 2004

 

	 	 	 	 
	[SEAL]	 	 	
		 	 	
      
      

      Susie M. Hoisten

      Notary
      Public

		 	 	
      Residence
      Summit County

      Statewide
      Jurisdiction ohio

      My
      commission expires December 9, 2006

 

State of
Ohio         )

                      )ss.:

County
of Summit      
       )

 

I HEREBY CERTIFY
THAT on this _____ day of November, 2004, before me, the subscriber, a Notary
Public in and for the State and County aforesaid, personally appeared Richard H.
Marsh, the attorney for PENNSYLVANIA POWER COMPANY, and the attorney named in
the foregoing Supplemental Indenture and, by virtue and in pursuance of the
authority therein conferred upon him, acknowledged the said Supplemental
Indenture to be the act and deed of said Pennsylvania Power
Company.

 

WITNESS my hand and
notarial seal the day and year aforesaid.

 

	 [SEAL]	 	 	 
	 	 	 	 
		 	 	
      
      

      Susie M. Hoisten

      Notary
      Public

		 	 	
      Residence
      Summit County

      Statewide
      Jurisdiction Ohio

      My
      commission expires December 9,
2006

13

 

STATE OF
OHIO               
)

                            
)ss.:

COUNTY OF
SUMMIT         )

 

On the 29th day of
November, 2004, before me, personally came Richard H. Marsh to me known, who,
being by me duly sworn, did depose and say that he resides at 1126 Woodhaven
Blvd., Fairlawn, Ohio 44333; that he is the Senior Vice President and Chief
Financial Officer of PENNSYLVANIA POWER COMPANY, one of the corporations
described in and which executed the above instrument; that he knows the seal of
said corporation; that the seal affixed to said instrument is such corporate
seal; that it was so affixed by order of the Board of Directors of said
corporation, and that he signed his name thereto by like authority.

 

WITNESS my hand and
notarial seal the day and year aforesaid.

 

	 	 	 	 
	 	 	 	 
	[SEAL]	 	 	
      
      

      Susie M. Hoisten

      Notary
      Public

		 	 	
      Residence
      Summit County

      Statewide
      Jurisdiction Ohio

      My
      commission expires December 9, 2006

14

 

STATE OF NEW
YORK            )

                             )ss.:

COUNTY OF NEW
YORK         )

 

BE IT REMEMBERED
that, on the _____ day of November, 2004 before me, the undersigned, a Notary
Public in said County of New York, State of New York, personally appeared Nancy
Forte, who being duly sworn according to law, doth depose and say that she was
personally present and did see the common or corporate seal of the above named
CITIBANK, N.A. affixed to the foregoing Supplemental Indenture; that the seal so
affixed is the common or corporate seal of the said CITIBANK, N.A. and was so
affixed by the authority of the said corporation as the act and deed thereof;
that the above named, P. DeFelice is one of the Vice Presidents of said
association and did sign the said Supplemental Indenture as such in the presence
of this deponent; that this deponent is an Assistant Vice President of said
CITIBANK, N.A., and that the name of this deponent above signed is attestation
of the due execution of the said Supplemental Indenture is in this deponent’s
own proper handwriting.

 

Sworn to and
subscribed before me this _____ day of November, 2004.

 

	
       [SEAL]

       

       
	 	 	 
	 	 	 	 
		 	 	
      
      

                   Nanette
      Murphy

              Notary
      Public, State of New York

                  No.
      01MU8086415

		 	 	
             
       Qualified in Kings County

             
       Commission Expires 1/21/07

 

STATE OF NEW
YORK     )

                              
)ss.:

COUNTY OF NEW
YORK     )

 

I HEREBY CERTIFY
that on this _____ day of November, 2004, before me, the subscriber, a Notary
Public in and for the State and County aforesaid, personally appeared P.
DeFelice, the attorney for CITIBANK, N.A., and the attorney named in the
foregoing Supplemental Indenture and, by virtue and in pursuance of the
authority therein conferred upon him, acknowledged the execution of said
Supplemental Indenture to be the act and deed of said CITIBANK,
N.A.

 

WITNESS my hand and
notarial seal the day and year aforesaid.

 

	 	 	 	 
	 	 	 	 
	[SEAL]	 	 	
      
      

                  Nanette
      Murphy

              Notary
      Public, State of New York

                  No.
      01MU8086415

		 	 	
               
      Qualified in Kings County

              
      Commission Expires
1/21/07

 

 

15

STATE OF NEW
YORK       )

                           )ss.:

COUNTY OF NEW
YORK    )

 

On the _____ day of
November, 2004 before me, personally came P. DeFelice, to me known, who being by
me duly sworn, did depose and say that he resides at 47-09 169th
Street, Flushing, New York 11358; that he is a Vice President of CITIBANK, N.A.,
one of the parties described in and which executed the above instrument; that he
knows the seal of said association; that the seal affixed to said instrument is
such corporate seal; that it was so affixed by authority of the Board of
Directors of said association, and that he signed his name thereto by like
authority.

 

WITNESS my hand and
notarial seal the day and year aforesaid.

 

	 	 	 	 
	 	 	 	 
	[SEAL]	 	 	
      
      

               Nanette
      Murphy

          Notary
      Public, State of New York

              No.
      01MU8086415

		 	 	
            Qualified
      in Kings County

              
      Commission Expires 1/21/07

 

16

 

 

 

Citibank, N.A.
hereby certifies that its precise name and address as Trustee hereunder
are:

 

 

	
       
	 	
      CITIBANK,
      N.A.

      388 Greenwich
      Street

      14th
      floor

      Borough of
      Manhattan

      City, County
      and State

         
      of New York 10013

       

	 	       
      CITIBANK, N.A.
	 
 	 
 	 
	 	By:  	 
	 	
      
      

                   P.
      DeFelice

                  Vice
      President

	 	
       

This instrument
prepared by:

    
FirstEnergy Corp.

    
76 South Main Street

    
Akron, OH  44308

 

17

 

 

Pennsylvania
Power Company

Official
Recordation Data

 

 

	
       

      County
	
       

      Date
      Filed
	
      Recorder’s
      

      Instrument
      No.
	
       

      Volume
	
       

      Page

	
      Belmont,
      OH
	 	 	 	 
	
      Clark
	 	 	 	 
	
      Jefferson
	 	 	 	 
	
      Lake
	 	 	 	 
	
      Lorain
	 	 	 	 
	
      Trumbull
	 	 	 	 
	
      Monroe
	 	 	 	 
	
      Allegheny,
      PA
	 	 	 	 
	
      Beaver,
      PA
	 	 	 	 
	
      Butler,
      PA
	 	 	 	 
	
      Crawford,
      PA
	 	 	 	 
	
      Lawrence,
      PA
	 	 	 	 
	
      Mercer,
      PA
	 	 	 	 
	
      Venango,
      PA
	 	 	 	 

 

 

18EXHIBIT 4.5 

Executed in 30 Counterparts of
which

this is Counterpart No. 30

MORTGAGE

JERSEY CENTRAL POWER & LIGHT COMPANY

to

THE BANK OF NEW YORK,
Successor
Trustee

FIFTY-FIFTH SUPPLEMENTAL
INDENTURE
FIRST MORTGAGE BONDS,
DESIGNATED SENIOR NOTE SERIES F BONDS

Dated as of April 1, 2004 

This instrument prepared by:

/s/ Marc B. Lasky

Marc B. Lasky, Esq.

Table of Contents

	 	 	 	 	 
	 	 	Page
	
      PARTIES
	 	 	1	 
	
       
	 	 	 	 
	
      RECITALS
	 	 	1	 
	
       
	 	 	 	 
	
      GRANT
	 	 	5	 
	
       
	 	 	 	 
	
      EXCEPTED
    PROPERTY
	 	 	5	 
	
       
	 	 	 	 
	
      GENERAL SUBJECT
      CLAUSES
	 	 	5	 
	
       
	 	 	 	 
	
      Article I
      CONCERNING THE TRUSTEE
	 	 	6	 
	
       
	 	 	 	 
	
      Section 1.01
      Acceptance by Trustee of Property in Trust
	 	 	6	 
	
      Section 1.02
      Recitals by Company
	 	 	6	 
	
       
	 	 	 	 
	
      Article II
      CREATION, DESCRIPTION AND FORM OF THE SENIOR NOTE SERIES F BONDS
	 	 	6	 
	
       
	 	 	 	 
	
      Section 2.01
      Creation of Senior Note Series F Bonds
	 	 	6	 
	
      Section 2.02
      Unlimited Principal Amount of Senior Note Series F Bonds
      Issuable
	 	 	6	 
	
      Section 2.03
      Dating, Maturity and Payment of Principal and Interest of Senior Note
      Series F Bonds
	 	 	7	 
	
      Section 2.04
      Payment on New Senior Notes Sufficient
	 	 	8	 
	
      Section 2.05
      Registered in Name of the Senior Note Trustee
	 	 	8	 
	
      Section 2.06
      Senior Note Series F Bonds Not Transferable
	 	 	8	 
	
      Section 2.07
      Redemption Provisions
	 	 	9	 
	
      Section 2.08
      Redemption on Demand of Senior Note Trustee
	 	 	9	 
	
      Section 2.09
      Senior Note Series F Bonds as ‘Related Senior Note First Mortgage
      Bonds’
	 	 	9	 
	
      Section 2.10
      Surrender of Senior Note Series F Bonds
	 	 	9	 
	
      Section 2.11
      Discharge From and After Release Date
	 	 	10	 
	
      Section 2.12 Form
      of Senior Note Series F Bonds
	 	 	10	 
	
       
	 	 	 	 
	
      Article III
      MISCELLANEOUS
	 	 	17	 
	
       
	 	 	 	 
	
      Section 3.01
      Meaning of Certain Terms
	 	 	17	 
	
      Section 3.02
      Original Indenture and Supplemental Indentures Ratified and
    Confirmed
	 	 	17	 
	
      Section 3.03
      Execution in Counterparts
	 	 	17	 

i 

	 	 	 	 	 
	 	 	Page
	
      TESTIMONIUM
	 	 	18	 
	
       
	 	 	 	 
	
      SIGNATURES AND
      SEALS
	 	 	18	 
	
       
	 	 	 	 
	
      ACKNOWLEDGMENTS
	 	 	20	 
	
       
	 	 	 	 
	
      CERTIFICATE OF
      RESIDENCE
	 	 	24	 

ii 

MORTGAGE

     FIFTY-FIFTH SUPPLEMENTAL
INDENTURE, dated as of the 1st day of April, 2004, made and entered into by
and between JERSEY CENTRAL POWER & LIGHT COMPANY, a corporation
organized and existing under the laws of the State of New Jersey (hereinafter
called the “Company”), party of the first part, and THE BANK OF NEW YORK,
a banking corporation of the State of New York, with its principal corporate
trust office at 101 Barclay Street, New York, New York, 10286, as Successor
Trustee under the Original Indenture hereinafter mentioned (the Successor
Trustee being hereinafter sometimes called “Trustee”), party of the second part.

     WHEREAS, the Company has
heretofore executed and delivered to City Bank Farmers Trust Company an
Indenture dated as of March 1, 1946 (hereinafter called the “Original
Indenture”), to secure the principal of and the interest and premium (if any) on
all bonds at any time issued and outstanding thereunder, to declare the terms
and conditions upon which bonds are to be issued thereunder and to subject to
the lien thereof certain property therein described; and

     WHEREAS, The Bank of New York is
now acting as Successor Trustee under the Original Indenture and the indentures
supplemental thereto hereinafter enumerated; and

     WHEREAS, the Original Indenture
has heretofore been supplemented by a First Supplemental Indenture dated as of
December 1, 1948, a Second Supplemental Indenture dated as of April 1,
1953, a Third Supplemental Indenture dated as of June 1, 1954, a Fourth
Supplemental Indenture dated as of May 1, 1955, a Fifth Supplemental
Indenture dated as of August 1, 1956, a Sixth Supplemental Indenture dated
as of July 1, 1957, a Seventh Supplemental Indenture dated as of
July 1, 1959, an Eighth Supplemental Indenture dated as of June 1,
1960, a Ninth Supplemental Indenture dated as of November 1, 1962, a Tenth
Supplemental Indenture dated as of October 1, 1963, an Eleventh
Supplemental Indenture dated as of October 1, 1964, a Twelfth Supplemental
Indenture dated as of November 1,1965, a Thirteenth Supplemental Indenture
dated as of August 1, 1966, a Fourteenth Supplemental Indenture dated as of
September 1, 1967, a Fifteenth Supplemental Indenture dated as of
October 1, 1968, a Sixteenth Supplemental Indenture dated as of
October 1, 1969, a Seventeenth Supplemental Indenture dated as of
June 1, 1970, an Eighteenth Supplemental Indenture dated as of
December 1, 1970, a Nineteenth Supplemental Indenture dated as of
February 1, 1971, a Twentieth Supplemental Indenture dated as of
November 1, 1971, a Twenty-first Supplemental Indenture dated as of
August 1, 1972, a Twenty-second Supplemental Indenture dated as of
August 1, 1973, a Twenty-third Supplemental Indenture dated as of
October 1, 1973, a Twenty-fourth Supplemental Indenture dated as of
December 1, 1973, a Twenty-fifth Supplemental Indenture dated as of
November 1, 1974, a Twenty-sixth Supplemental Indenture dated as of
March 1, 1975, a Twenty-seventh Supplemental Indenture dated as of
July 1, 1975, a Twenty-eighth Supplemental Indenture dated as of
October 1, 1975, a Twenty-ninth Supplemental Indenture dated as of
February 1, 1976, a Supplemental Indenture No. 29A dated as of
May 31, 1976, a Thirtieth Supplemental Indenture dated as of June 1,
1976, a Thirty-first Supplemental Indenture dated as of May 1, 1977, a
Thirty-

1 

second Supplemental Indenture dated as of
January 20, 1978, a Thirty-third Supplemental Indenture dated as of
January 1, 1979, a Thirty-fourth Supplemental Indenture dated as of
June 1, 1979, a Thirty-fifth Supplemental Indenture dated as of
June 15, 1979, a Thirty-sixth Supplemental Indenture dated as of
October 1, 1979, a Thirty-seventh Supplemental Indenture dated as of
September 1, 1984, a Thirty-eighth Supplemental Indenture dated as of
July 1, 1985, a Thirty-ninth Supplemental Indenture dated as of
April 1, 1988, a Fortieth Supplemental Indenture dated as of June 14,
1988, a Forty-first Supplemental Indenture dated as of April 1, 1989, a
Forty-second Supplemental Indenture dated as of July 1, 1989, a Forty-third
Supplemental Indenture dated as of March 1, 1991, a Forty-fourth
Supplemental Indenture dated as of March 1, 1992, a Forty-fifth
Supplemental Indenture dated as of October 1, 1992, a Forty-sixth
Supplemental Indenture dated as of April 1, 1993, a Forty-seventh
Supplemental Indenture dated as of April 10, 1993, a Forty-eighth
Supplemental Indenture dated as of April 15, 1993, a Forty-ninth
Supplemental Indenture dated as of October 1, 1993, a Fiftieth Supplemental
Indenture dated as of August 1, 1994, a Fifty-first Supplemental Indenture
dated as of August 15, 1996, a Fifty-second Supplemental Indenture dated as
of July 1, 1999, a Fifty-third Supplemental Indenture dated as of
November 1, 1999 and a Fifty-fourth Supplemental Indenture dated as of
May 1, 2001 (hereinafter respectively called “First Supplemental
Indenture,” “Second Supplemental Indenture,” “Third Supplemental Indenture,”
“Fourth Supplemental Indenture,” “Fifth Supplemental Indenture,” “Sixth
Supplemental Indenture,” “Seventh Supplemental Indenture,” “Eighth Supplemental
Indenture,” “Ninth Supplemental Indenture,” “Tenth Supplemental Indenture,”
“Eleventh Supplemental Indenture,” “Twelfth Supplemental Indenture,” “Thirteenth
Supplemental Indenture,” “Fourteenth Supplemental Indenture,” “Fifteenth
Supplemental Indenture,” “Sixteenth Supplemental Indenture,” “Seventeenth
Supplemental Indenture,” “Eighteenth Supplemental Indenture,” “Nineteenth
Supplemental Indenture,” “Twentieth Supplemental Indenture,” “Twenty-first
Supplemental Indenture,” “Twenty-second Supplemental Indenture,” “Twenty-third
Supplemental Indenture,” “Twenty-fourth Supplemental Indenture,” “Twenty-fifth
Supplemental Indenture,” “Twenty-sixth Supplemental Indenture,” “Twenty-seventh
Supplemental Indenture,” “Twenty-eighth Supplemental Indenture,” “Twenty-ninth
Supplemental Indenture,” “Supplemental Indenture No. 29A,” “Thirtieth
Supplemental Indenture,” “Thirty-first Supplemental Indenture,” “Thirty-second
Supplemental Indenture,” “Thirty-third Supplemental Indenture,” “Thirty-fourth
Supplemental Indenture,” “Thirty-fifth Supplemental Indenture,” “Thirty-sixth
Supplemental Indenture,” “Thirty-seventh Supplemental Indenture,” “Thirty-eighth
Supplemental Indenture,” “Thirty-ninth Supplemental Indenture,” “Fortieth
Supplemental Indenture,” “Forty-first Supplemental Indenture,” “Forty-second
Supplemental Indenture,” “Forty-third Supplemental indenture,” “Forty-fourth
Supplemental Indenture,” “Forty-fifth Supplemental Indenture,” “Forty-sixth
Supplemental Indenture,” “Forty-seventh Supplemental Indenture,” “Forty-eighth
Supplemental Indenture,” “Forty-ninth Supplemental Indenture,” “Fiftieth
Supplemental Indenture,” “Fifty-first Supplemental Indenture,” “Fifty-second
Supplemental Indenture,” “Fifty-third Supplemental Indenture,” and “Fifty-fourth
Supplemental Indenture,” collectively called “the Supplemental Indentures”), for
the purposes therein expressed; and

2 

     WHEREAS, the Original Indenture
has been recorded in the proper recording offices of the following counties in
the State of New Jersey and the Commonwealth of Pennsylvania in Books of
Mortgages at the pages respectively stated as follows:

NEW JERSEY

	 	 	 	 	 	 	 	 	 
	 	 	Mortgage	 	 	 
	County	 	Book	 	Page
	
      Burlington
	 	 	360	 	 	 	l &c	 
	
      Camden
	 	 	2423	 	 	 	37 &c	 
	
      Essex
	 	 	I-103	 	 	 	155 &c	 
	
      Hunterdon
	 	 	439	 	 	 	284 &c	 
	
      Mercer
	 	 	732	 	 	 	280 &c	 
	
      Middlesex
	 	 	871	 	 	 	101 &c	 
	
      Monmouth
	 	 	1365	 	 	 	l &c	 
	
      Morris
	 	 	Z-16	 	 	 	1 &c	 
	
      Ocean
	 	 	385	 	 	 	33 &c	 
	
      Passaic
	 	 	B-24	 	 	 	1 &c	 
	
      Somerset
	 	 	386	 	 	 	l &c	 
	
      Sussex
	 	 	394	 	 	 	148 &c	 
	
      Union
	 	 	1474	 	 	 	l &c	 
	
      Warren
	 	 	279	 	 	 	191 &c	 

PENNSYLVANIA

	 	 	 	 	 	 	 	 	 
	
      Armstrong
	 	 	213	 	 	 	421 &c	 
	
      Bucks
	 	 	2133	 	 	 	151 &c	 
	
      Dauphin
	 	 	N52	 	 	 	l &c	 
	
      Indiana
	 	 	200	 	 	 	371 &c	 
	
      Montgomery
	 	 	7537	 	 	 	1287 &c	 
	
      Northampton
	 	 	1159	 	 	 	1 &c	 

; and

     WHEREAS, the Supplemental
Indentures have been recorded in the proper recording offices of the appropriate
counties in the State of New Jersey and the Commonwealth of Pennsylvania; and

     WHEREAS, the Original Indenture,
as the same may be amended or supplemented from time to time by indentures
supplemental thereto, is hereinafter referred to as “the Indenture”; and

     WHEREAS, the Company has entered
into an Indenture dated as of July 1, 1999 (the “Senior Note Indenture”)
with United States Trust Company of New York, as trustee, under which The Bank
of New York is acting as successor trustee (the “Senior Note Trustee”),
providing for the issuance of notes thereunder (the “Senior Notes”) from time to
time, and pursuant to the Senior Note Indenture the Company has agreed to issue
to the Senior Note Trustee, as security for the Senior Notes, a new series of
bonds under the

3 

Indenture at the time of authentication of
each series of Senior Notes issued prior to the Release Date (as defined in the
Senior Note Indenture); and

     WHEREAS, for such purposes the
Company desires to issue a new series of bonds and by appropriate corporate
action in conformity with the terms of the Indenture has duly determined to
create a separate series of bonds, which shall be designated as “First Mortgage
Bonds, Senior Note Series F” (hereinafter sometimes referred to as the
“Senior Note Series F Bonds”), which said Senior Note Series F Bonds
are to be substantially in the form set forth in Article II hereof with the
insertion of numbers, denominations, date or dates from which interest shall
accrue, maturities, interest rates (or method of determination thereof),
interest payment dates and other terms as determined in accordance with the
terms of the Indenture; and

     WHEREAS, the Senior Note
Series F Bonds shall be issued to the Senior Note Trustee in connection
with the concurrent issuance from time to time by the Company of a like
aggregate principal amount of its Senior Notes (the “New Senior Notes”); and

     WHEREAS, all acts and things
prescribed by law and by the certificate of incorporation and by-laws of the
Company necessary to make the Senior Note Series F Bonds, when executed by
the Company and authenticated by the Trustee, as in the Indenture provided,
valid, binding and legal obligations of the Company, entitled in all respects to
the security of the Indenture, have been performed or will have been performed
prior to execution of such Senior Note Series F Bonds by the Company and
authentication thereof by the Trustee; and

     WHEREAS, the Original Indenture
authorizes the Company and the Trustee to enter into supplemental indentures for
the purpose, among others, of conveying, transferring and assigning to the
Trustee, and subjecting to the lien thereof, additional properties thereafter
acquired by the Company; and

     WHEREAS, the Company desires to
subject specifically to the lien of the Indenture certain property acquired by
the Company since May 1, 2001; and

     WHEREAS, by the provisions of
Article XVII of the Original Indenture, indentures supplemental to the
Original Indenture may be executed and delivered for the purpose of setting
forth the terms, provisions and form of the Senior Note Series F Bonds and
supplementing the Original Indenture in a manner which is not inconsistent with
the provisions thereof and does not adversely affect the interests nor modify
the rights of outstanding bonds and for the other purposes therein more fully
set forth; and

     WHEREAS, the Company, in the
exercise of the powers and authority conferred upon and reserved to it under the
provisions of the Original Indenture and pursuant to appropriate action of its
Board of Directors, has fully resolved and determined to make, execute and
deliver to the Trustee a Fifty-fifth Supplemental Indenture in the form hereof
for the purposes herein provided; and

     WHEREAS, the Company represents
that all conditions and requirements necessary to make this Fifty-fifth
Supplemental Indenture, in the form and upon the terms

4 

hereof, a valid, binding and legal
instrument, in accordance with its terms, and for the purposes herein expressed,
have been done, performed and fulfilled, and the execution and delivery hereof,
in the form and upon the terms hereof, have been in all respects duly
authorized.

     NOW
THEREFORE, THIS FIFTY-FIFTH SUPPLEMENTAL INDENTURE WITNESSETH: That Jersey
Central Power & Light Company, in consideration of the premises, and the
execution and delivery by the Trustee of this Fifty-fifth Supplemental Indenture
and for other good and valuable considerations, receipt of which is hereby
acknowledged, has granted, bargained, sold, aliened, enfeoffed, released,
conveyed, mortgaged, assigned, transferred, pledged, set over and confirmed, and
by these presents does grant, bargain, sell, alien, enfeoff, release, convey,
mortgage, assign, transfer, pledge, set over and confirm unto The Bank of New
York, as Successor Trustee as aforesaid, and to its successors in the trust
created by the Original Indenture and to its and their successors and assigns
forever, all the following properties of the Company, that is to say:

FIRST

     All property
additions, as defined in and by Section 1.03 of the Original Indenture,
acquired by the Company on or after May 1, 2001, and prior to April 1,
2004 and now owned by the Company.

SECOND

     Also all
property of the character and nature specified in the “Second,” “Third,”
“Fourth,” “Fifth,” and “Sixth” subdivisions of the granting clauses of the
Original Indenture.

     EXPRESSLY
EXCEPTING AND EXCLUDING, HOWEVER, from this Fifty-fifth Supplemental
Indenture and from the lien and operation of the Indenture, all property which,
prior to the date of this Fifty-fifth Supplemental Indenture, shall have been
released from the lien of, or disposed of by the Company in accordance with the
provisions of the Indenture; and all the tracts or parcels of land and premises
and all property of every kind and type excepted and excluded from, and not
heretofore or hereby expressly subjected to, the lien of the Original Indenture
by the terms thereof whether such property was owned by the Company at the date
thereof or has been acquired since that date.

     SUBJECT,
HOWEVER, except as otherwise expressly provided in this Fifty-fifth
Supplemental Indenture, to the exceptions, reservations and matters recited in
the Indenture, to the reservations, exceptions, limitations and restrictions
contained in the several deeds, grants, franchises and contracts or other
instruments through which the Company acquired or claims title to the aforesaid
property; and subject also to existing leases, to liens on easements or rights
of way for transmission or distribution line purposes, to taxes and assessments
not in default, to easements for alleys, streets, highways, rights of-way and
railroads that may ran across or encroach upon said lands, to

5 

joint pole and similar agreements, to
undetermined liens and charges, if any, incidental to the construction and other
permissible encumbrances, as defined in the Original Indenture, and subject also
to the provisions of Section 13.03 of the Original Indenture.

     In trust,
nevertheless, upon the terms and trusts set forth in the Indenture.

     AND THIS
FIFTY-FIFTH SUPPLEMENTAL INDENTURE FURTHER WITNESSETH: That the Company, for
the considerations aforesaid, hereby covenants and agrees to and with the
Trustee and its successors in the trust under the Indenture, as follows:

ARTICLE I

CONCERNING THE TRUSTEE.

     Section 1.01 Acceptance by
Trustee of Property in Trust. The Trustee hereby accepts the properties
hereby mortgaged and conveyed to it upon the trusts hereinbefore referred to and
agrees to perform the same upon the terms and conditions set forth in the
Indenture.

     Section 1.02 Recitals by
Company. The Trustee shall not be responsible in any manner for or with
respect to the validity or sufficiency of this Fifty-fifth Supplemental
Indenture, or the due execution hereof by the Company, or for or with respect to
the recitals and statements contained herein, all of which recitals and
statements are made solely by the Company.

ARTICLE II

CREATION, DESCRIPTION AND FORM
OF
THE SENIOR NOTE SERIES F BONDS

     Section 2.01 Creation of Senior
Note Series F Bonds. The Company hereby creates a series of bonds to be
issued under and secured by the Indenture, to be designated and to be
distinguished from bonds of all other series by the title “First Mortgage Bonds,
Senior Note Series F.”

     Section 2.02 Unlimited
Principal Amount of Senior Note Series F Bonds Issuable. An unlimited
principal amount of Senior Note Series F Bonds, being authenticated and
delivered from time to time, may forthwith be executed by the Company and
delivered to the Trustee and shall be authenticated by the Trustee and delivered
(either before or after the filing or recording hereof) to or upon the order of
the designated officer or officers of the Company specifying, among other
things, the principal amount of the Senior Note Series F Bonds to be issued
on the specified date of issuance, the numbers, denominations, date or dates
from which interest shall accrue, maturities, interest rates (or method of
determination thereof), interest payment dates and other terms of such Senior
Note Series F Bonds, upon receipt by the Trustee of the cash, resolutions,
certificates, opinions and documents required to be delivered upon the issue of
bonds from time to time as provided in the Indenture.

6 

     Section 2.03 Dating, Maturity
and Payment of Principal and Interest of Senior Note Series F Bonds. Each
Senior Note Series F Bond shall be dated the date of its authentication
(“issue date”) and shall bear interest from the issue date of said bond or from
the most recent interest payment date to which interest has been paid or duly
provided for with respect to the Senior Note Series F Bonds, except that so
long as there is no existing default in the payment of interest on the Senior
Note Series F Bonds, any Senior Note Series F Bond authenticated by
the Trustee between the record date (as hereinafter defined) for any interest
payment date for such bond and such interest payment date shall bear interest
from such interest payment date; provided, however, that if and to the extent
the Company shall default in payment of the interest due on such interest
payment date, then any such Senior Note Series F Bond shall bear interest
from the most recent interest payment date to which interest has been paid or
duly provided for with respect to such Senior Note Series F Bond, or, if no
interest has been paid on such Senior Note Series F Bond, then from its
issue date. Each Senior Note Series F Bond shall be payable on its
respective maturity date in such coin or currency of the United States of
America as at the time of payment is legal tender for the payment of public and
private debts, and shall bear interest payable in like coin or currency,
(i) at the interest rate specified in such Senior Note Series F Bond,
or in accordance with the method for determining such rate set forth therein,
payable on the interest payment dates specified pursuant to Section 2.02
hereof, and on the maturity date, according to the terms of such Senior Note
Series F Bond or on prior redemption or by declaration or otherwise,
commencing with the interest payment date first following the issue date of said
bond; provided, however, if the issue date of a Senior Note Series F Bond
is between the record date for an interest payment date and the interest payment
date, interest payments on said bond will commence on the second interest
payment date following the issue date, and (ii) at the highest rate of
interest borne by any of the bonds outstanding under the Indenture from such
date of maturity until they shall be paid or payment thereof shall have been
duly provided for, and (to the extent that payment of such interest is
enforceable under applicable law) interest on any overdue installment of
interest shall be payable at the highest rate of interest borne by any of the
bonds outstanding under the Indenture. Principal of and interest on the Senior
Note Series F Bonds shall be payable at the office or agency of the Company
in the Borough of Manhattan, The City of New York.

     The person
in whose name any Senior Note Series F Bond is registered at the close of
business on any record date (as hereinafter defined) with respect to any
interest payment date shall be entitled to receive the interest payable on such
interest payment date (except that in case of any redemption of any Senior Note
Series F Bond as provided for herein on a date subsequent to the record
date and prior to such interest payment date, interest on such redeemed bonds
shall be payable only to the date fixed for redemption thereof and only against
surrender of such bond for redemption in accordance with the notice of such
redemption) notwithstanding the cancellation of any such Senior Note
Series F Bond upon any registration of transfer or exchange subsequent to
the record date and prior to such interest payment date; provided, however, that
if, and to the extent, the Company shall default in the payment of the interest
due on any interest payment date, such defaulted interest shall be paid to the
person in whose name such outstanding Senior Note Series F Bond is
registered on the day immediately preceding the date of payment of such
defaulted interest or, at the election of the Company, on a subsequent record
date

7 

established by notice given by mail by or
on behalf of the Company to the holder of such Senior Note Series F Bond
not less than fifteen days preceding such subsequent record date.

     Unless
otherwise specified in the written order of the Company delivered pursuant to
Section 4.07(a) of the Original Indenture with respect to any Senior Note
Series F Bond, the term “record date” shall mean, with respect to any
regular interest payment date, the close of business on the 15th day of the
calendar month next preceding such interest payment date or, in the case of
defaulted interest, the close of business on any subsequent record date
established as provided above.

     Section 2.04 Payment on New
Senior Notes Sufficient. Upon any payment of the principal of, premium, if
any, and interest on, all or any portion of the New Senior Notes referred to in
the form of any Senior Note Series F Bond, whether at maturity or prior to
maturity by redemption or otherwise or upon provision for the payment thereof
having been made in accordance with Section 5.01(a) of the Senior Note
Indenture, such Senior Note Series F Bond in a principal amount equal to
the principal amount of such New Senior Notes shall, to the extent of such
payment of principal, premium, if any, and interest, be deemed paid and the
obligation of the Company thereunder to make such payment shall be discharged to
such extent and, in the case of the payment of principal (and premium, if any),
such Senior Note Series F Bond in a principal amount equal to the related
New Senior Notes shall be surrendered to the Company for cancellation as
provided in Section 4.06 of the Senior Note Indenture. The Trustee may at
any time and all times conclusively assume that the obligation of the Company to
make payments with respect to the principal of and premium, if any, and interest
on any Senior Note Series F Bond, so far as such payments at the time have
become due, has been fully satisfied and discharged pursuant to the foregoing
sentence unless and until the Trustee shall have received a written notice from
the Senior Note Trustee signed by one of its officers stating (i) that
timely payment of principal of, or premium or interest on, the New Senior Notes
referred to in the form of such Senior Note Series F Bond has not been so
made, (ii) that the Company is in arrears as to the payments required to be
made by it to the Senior Note Trustee pursuant to the Senior Note Indenture, and
(iii) the amount of the arrearage.

     Section 2.05 Registered in Name
of the Senior Note Trustee. Each Senior Note Series F Bond is to be
issued to and registered in the name of The Bank of New York, as the Senior Note
Trustee, or a successor trustee thereto, under the Senior Note Indenture to
secure any and all obligations of the Company under the New Senior Notes
referred to in the form of any Senior Note Series F Bond and any other
series of Senior Notes from time to time outstanding under the Senior Note
Indenture.

     Section 2.06 Senior Note
Series F Bonds Not Transferable. Except (i) as required to effect
an assignment to a successor Trustee under the Senior Note Indenture,
(ii) pursuant to Section 4.03 or Section 4.06 of the Senior Note
Indenture, or (iii) in compliance with a final order of a court of
competent jurisdiction in connection with any bankruptcy or reorganization
proceeding of the Company, the Senior Note Series F Bonds are not
transferable. The Senior Note Series F Bonds shall be exchangeable for
other registered bonds of the same series and for the same aggregate principal
amount, in

8 

the manner and upon the conditions
prescribed in the Indenture, upon the surrender of such bonds at the office or
agency of the Company in the Borough of Manhattan, The City of New York. The
Company covenants and agrees that, notwithstanding Section 2.03 of the
Indenture, it will not charge any sum for or in connection with any exchange or
transfer of any Senior Note Series F Bond.

     Section 2.07 Redemption
Provisions.

(a) Senior Note Series F Bonds shall not be redeemed except
(i) as set forth in Section 2.08 hereof; and (ii) by the
surrender thereof by the Senior Note Trustee to the Trustee for cancellation at
a redemption price of zero upon redemption of all other series of bonds pursuant
to Section 8.08 of the Indenture.

(b) In the event the Company redeems any New Senior Notes
referred to in the form of any Senior Note Series F Bond prior to maturity
in accordance with the provisions of the Senior Note Indenture, the Senior Note
Trustee shall on the same date deliver to the Company such Senior Note
Series F Bond for cancellation of a principal amount thereof corresponding
to such New Senior Notes so redeemed, as provided in Section 4.06 of the
Senior Note Indenture.

(c) Senior Note Series F Bonds are not redeemable by the
operation of the improvement fund pursuant to Section 5.22 and
Section 9.06 of the Indenture or otherwise or by operation of the
maintenance and replacement provisions of Section 5.07 and
Section 9.06 of the Indenture or otherwise or with the proceeds of released
property pursuant to Section 9.06 of the Indenture or otherwise.

     Section 2.08 Redemption on
Demand of Senior Note Trustee. The Senior Note Series F Bonds shall be
immediately redeemed at a redemption price of 100% of the principal amount
thereof, plus interest accrued to the redemption date, in whole, upon a written
demand for redemption by the Senior Note Trustee stating that the principal of
all Senior Notes then outstanding under the Senior Note Indenture has been
declared to be immediately due and payable pursuant to the provisions of the
first sentence of Section 8.01(a) thereof.

     Section 2.09 Senior Note
Series F Bonds as ‘Related Senior Note First Mortgage Bonds’. For
purposes of Section 4.07 of the Senior Note Indenture, each Senior Note
Series F Bond shall be deemed to be the “Related Senior Note First Mortgage
Bond” in respect of the New Senior Notes issued concurrently therewith and
referred to in the form of such Senior Note Series F Bond.

     Section 2.10 Surrender of
Senior Note Series F Bonds. At any time a New Senior Note shall cease
to be entitled to any lien, benefit or security under the Senior Note Indenture
pursuant to Section 5.01(b) thereof and the Company shall have provided the
Senior Note Trustee with notice thereof, the Senior Note Trustee shall surrender
an equal principal amount of the Related Senior Note First Mortgage Bonds,
subject to the limitations of Section 4.06 of the Senior Note Indenture, to
the Company for cancellation.

9 

     Section 2.11 Discharge From and
After Release Date. As provided in Section 4.09 of the Senior Note
Indenture, from and after the Release Date, the obligations of the Company with
respect to the Senior Note Series F Bonds shall be deemed to be satisfied
and discharged, the Senior Note Series F Bonds shall cease to secure in any
manner any Senior Notes outstanding under the Senior Note Indenture, and,
pursuant to Section 4.06 of the Senior Note Indenture, the Senior Note
Trustee shall forthwith deliver the Senior Note Series F Bonds to the
Company for cancellation.

     Section 2.12 Form of Senior
Note Series F Bonds. Unless otherwise specified in the written order of
the Company delivered pursuant to Section 4.07(a) of the Original Indenture
with respect to any Senior Note Series F Bonds, the form of the Senior Note
Series F Bonds and the Trustee’s authentication certificate to be endorsed
thereon shall be substantially as follows, the maturity date or dates,
denominations, interest rates (or method of determination thereof), interest
payment dates and other terms thereof to be appropriately inserted as provided
in Section 2.01 of the Original Indenture.

[FORM OF SENIOR NOTE SERIES F BONDS]

JERSEY CENTRAL POWER & LIGHT COMPANY

FIRST MORTGAGE BOND, SENIOR NOTE SERIES
F

	 	 	 
	
      $300,000,000 
	No. 1	 

	 	 	 	 	 	 	 	 	 
	Issue
    Date	 	Interest Rate	 	Maturity Date
	
      April 23,
      2004
	 	 	5.625%	 	 	May 1,
2016

Interest Payment Dates: May 1 and
November 1, commencing November 1, 2004

     JERSEY
CENTRAL POWER & LIGHT COMPANY, a corporation organized and existing under
the laws of the State of New Jersey (hereinafter called the “Company”), for
value received, hereby promises to pay to The Bank of New York, as successor
Trustee under the Company’s Indenture dated as of July 1, 1999, or registered
assigns, THREE HUNDRED MILLION DOLLARS on the Maturity Date specified above,
unless this Bond shall have been duly called for previous redemption in whole or
in part and payment of the redemption price shall have been duly made or
provided for, at the office or agency of the Company in the Borough of
Manhattan, The City of New York, in such coin or currency of the United States
of America as at the time of payment shall be legal tender for the payment of
public and private debts, and to pay to the registered holder hereof interest
thereon, at said office or agency, in like coin or currency, from the Issue Date
specified above, or from the most recent Interest Payment Date to which interest
has been paid or duly provided for, until said principal sum has been paid or
provided for, at the Interest Rate per annum specified above, on the Interest
Payment Dates specified above and on the maturity date specified above;
provided, however, if the Issue Date is between the record date for an Interest
Payment Date and the Interest Payment Date, interest payments will commence on
the second Interest Payment Date following the Issue Date; and, to the extent
permitted by law, to pay interest on overdue

10 

interest at the highest rate of interest
borne by any of the bonds outstanding under the Mortgage hereinafter mentioned.

     This bond is
one of an issue of bonds of the Company (hereinafter referred to as the
“bonds”), not limited in principal amount except as provided in the Mortgage
hereinafter mentioned, which may mature at different times, may bear interest at
different rates, and may otherwise vary as in the Mortgage hereinafter mentioned
provided, and is one of a series known as its First Mortgage Bonds, Senior Note
Series F (herein called the “Senior Note Series F Bonds”), all bonds
issued and to be issued under and equally and ratably secured (except insofar as
any sinking fund or analogous fund, established in accordance with the
provisions of the Mortgage hereinafter mentioned, may afford additional security
for the bonds of any particular series) by an Indenture, dated as of
March 1, 1946, executed by the Company to City Bank Farmers Trust Company,
Trustee (herein, together with any indentures supplemental thereto, including,
but not by way of limitation, the Fifty-fifth Supplemental Indenture, dated as
of April 1, 2004, called the “Mortgage”), under which The Bank of New York
is Successor Trustee (herein called the “Trustee”), to which Mortgage reference
is made for a description of the property mortgaged and pledged, the nature and
extent of the security, the rights and limitations of rights of the holders of
the bonds and of the Company in respect thereof, the rights, duties and
immunities of the Trustee, and the terms and conditions upon which the bonds
are, and are to be, issued and secured. The Senior Note Series F Bonds are
described in the Fifty-fifth Supplemental Indenture dated as of April 1,
2004 between the Company and the Trustee (the “Fifty-fifth Supplemental
Indenture”).

     Under an
Indenture dated as of July 1, 1999 (hereinafter sometimes referred to as
the “Senior Note Indenture”), between the Company and United States Trust
Company of New York, as trustee, under which The Bank of New York is acting as
successor trustee (hereinafter sometimes called the “Senior Note Trustee”), the
Company will issue, concurrently with the issuance of this bond, an issue of
notes under the Senior Note Indenture entitled 5.625% Senior Notes due 2016 (the
“New Senior Notes”). Pursuant to Article IV of the Senior Note Indenture,
this bond is issued to the Senior Note Trustee to secure any and all obligations
of the Company under the New Senior Notes and any other series of senior notes
from time to time outstanding under the Senior Note Indenture. Payment of
principal of, or premium, if any, or interest on, the New Senior Notes shall
constitute payments on this bond as further provided herein and in the
Fifty-fifth Supplemental Indenture.

     As provided
in Section 4.09 of the Senior Note Indenture, from and after the Release
Date (as defined in the Senior Note Indenture), the obligations of the Company
with respect to this bond shall be deemed to be satisfied and discharged, this
bond shall cease to secure in any manner any senior notes outstanding under the
Senior Note Indenture, and, pursuant to Section 4.06 of the Senior Note
Indenture, the Senior Note Trustee shall forthwith deliver this bond to the
Company for cancellation.

     Upon any
payment of the principal of, premium, if any, and interest on, all or any
portion of the New Senior Notes, whether at maturity or prior to maturity by
redemption or otherwise or upon provision for the payment thereof having been
made in accordance

11 

with Section 5.01(a) of the Senior
Note Indenture, such Senior Note Series F Bond in a principal amount equal
to the principal amount of such New Senior Notes to the extent of such payment
of principal, premium, if any, and interest, be deemed paid and the obligation
of the Company thereunder to make such payment shall be discharged to such
extent and, in the case of the payment of principal (and premium, if any), such
Senior Note Series F Bond in principal amount equal to the related New
Senior Notes shall be surrendered to the Company for cancellation as provided in
Section 4.06 of the Senior Note Indenture. The Trustee may at anytime and
all times conclusively assume that the obligation of the Company to make
payments with respect to the principal of and premium, if any, and interest on
any Senior Note Series F Bond, so far as such payments at the time have
become due, has been fully satisfied and discharged pursuant to the foregoing
sentence unless and until the Trustee shall have received a written notice from
the Senior Note Trustee signed by one of its officers stating (i) that
timely payment of principal of, or premium or interest on, the New Senior Notes
referred to above has not been made, (ii) that the Company is in arrears as
to the payments required to be made by it to the Senior Note Trustee pursuant to
the Senior Note Indenture, and (iii) the amount of the arrearage.

     For purposes
of Section 4.07 of the Senior Note Indenture, this bond shall be deemed to
be the “Related Senior Note First Mortgage Bonds” in respect of the New Senior
Notes issued concurrently therewith and referred to above.

     The Mortgage
contains provisions permitting the holders of not less than seventy-five per
centum (75%) in principal amount of all the bonds at the time outstanding,
determined and evidenced as provided in the Mortgage, or in case the rights
under the Mortgage of the holders of bonds of one or more, but less than all, of
the series of bonds outstanding shall be affected, the holders of not less than
seventy-five per centum (75%) in principal amount of the outstanding bonds of
such one or more series affected, except that if any such action would affect
the bonds of two or more series, the holders of not less than seventy-five per
centum (75%) in principal amount of outstanding bonds of such two or more
series, which need not include seventy-five per centum (75%) in principal amount
of outstanding bonds of each of such series, determined and evidenced as
provided in the Mortgage, on behalf of the holders of all the bonds, to waive
any past default under the Mortgage and its consequences except a completed
default, as defined in the Mortgage, in respect of the payment of the principal
of or interest on any bond or except a default arising from the creation of any
lien ranking prior to or equal with the lien of the Mortgage on any of the
mortgaged property, subject to the condition that, in case the rights of the
holders of less than all of the series of bonds outstanding shall be affected,
no waiver of any past default or its consequences shall be effective unless
approved by the holders of not less than a majority of all the bonds at the time
outstanding. The Mortgage also contains provisions permitting the Company and
the Trustee, with the consent of the holders of not less than seventy-five per
centum (75%) in principal amount of all the bonds at the time outstanding,
determined and evidenced as provided in the Mortgage, or in case the rights
under the Mortgage of the holders of bonds of one or more, but less than all, of
the series of bonds outstanding shall be affected, then with the consent of the
holders of not less than seventy-five per centum (75%) in principal amount of
the outstanding bonds of such one or more series affected,

12 

except that if any such action would
affect the bonds of two or more series, the holders of not less than
seventy-five per centum (75%) in principal amount of outstanding bonds of such
two or more series, which need not include seventy-five per centum (75%) in
principal amount of outstanding bonds of each of such series, determined and
evidenced as provided in the Mortgage, to execute supplemental indentures adding
any provisions to or changing in any manner or eliminating any of the provisions
of the Mortgage or modifying in any manner the rights of the holders of the
bonds and coupons thereunto appertaining; provided, however, that no such
supplemental indenture shall (i) extend the fixed maturity of any bonds, or
reduce the rate or extend the time of payment of interest thereon, or reduce the
principal amount thereof, or, subject to the provisions of the Mortgage, limit
the right of a bondholder to institute suit for the enforcement of payment of
principal or interest in accordance with the terms of the bonds, without the
consent of the holder of each bond so affected, or (ii) reduce the
aforesaid percentage of bonds, the holders of which are required to consent to
any such supplemental indenture, without the consent of the holders of all bonds
then outstanding, or (iii) permit the creation of any lien ranking prior to
or equal with the lien of the Mortgage on any of the mortgaged property without
the consent of the holders of all bonds then outstanding, or (iv) deprive
the holder of any outstanding bond of the lien of the Mortgage on any of the
mortgaged property. Any such waiver or consent by the holder of this bond
(unless effectively revoked as provided in the Mortgage) shall be conclusive and
binding upon such holder and upon all future holders of this bond, irrespective
of whether or not any notation of such waiver or consent is made upon this bond.

     No reference
herein to the Mortgage and no provision of this bond or of the Mortgage shall
alter or impair the obligation of the Company, which is absolute and
unconditional, to pay the principal of and interest on this bond at the time and
place and at the rate and in the coin or currency herein prescribed.

     The Senior
Note Series F Bonds are issuable only in fully registered form and in
denominations of $1,000 or any higher integral multiple of $1,000.

     Senior Note
Series F Bonds shall not be redeemed except as set forth below and except
by the surrender thereof by the Senior Note Trustee to the Trustee for
cancellation at a redemption price of zero upon redemption of all other series
of bonds pursuant to Section 8.08 of the Mortgage. In the event the Company
redeems any New Senior Notes referred to above prior to maturity in accordance
with the provisions of the Senior Note Indenture, the Senior Note Trustee shall
on the same date deliver to the Company this Senior Note Series F Bond for
cancellation of a principal amount thereof corresponding to the New Senior Notes
so redeemed, as provided in Section 4.06 of the Senior Note Indenture.
Senior Note Series F Bonds are not redeemable by the operation of the
improvement fund pursuant to Section 5.22 and Section 9.06 of the
Indenture or otherwise or by operation of the maintenance and replacement
provisions of Section 5.07 and Section 9.06 of the Indenture or
otherwise or with the proceeds of released property pursuant to
Section 9.06 of the Indenture or otherwise.

     The Senior
Note Series F Bonds shall be immediately redeemed at a redemption price of
100% of the principal amount thereof, plus interest accrued to the redemption

13 

date, in whole, upon a written demand for
redemption by the Senior Note Trustee stating that the principal of all Senior
Notes then outstanding under the Senior Note Indenture have been declared to be
immediately due and payable pursuant to the provisions of the first sentence of
Section 8.01(a) thereof.

     The Mortgage
provides that if the Company shall deposit with the Trustee in trust for the
purpose funds sufficient to pay the principal of all of the bonds of any series,
or such of the bonds of any series as have been or are to be called for
redemption, and premium, if any, thereon, and all interest payable on such bonds
to the date on which they become due and payable, at maturity or upon redemption
or otherwise, and complies with the other provisions of the Mortgage in respect
thereof, then from the date of such deposit such bonds shall no longer be
secured by the lien of the Mortgage.

     The
principal hereof may be declared or may become due prior to the express date of
the maturity hereof on the conditions, in the manner and at the time set forth
in the Mortgage, upon the occurrence of a completed default as in the Mortgage
provided.

     This bond is
not transferable except (i) as required to effect an assignment to a
successor Trustee under the Senior Note Indenture, (ii) pursuant to
Section 4.03 or Section 4.06 of the Senior Note Indenture, or
(iii) in compliance with a final order of a court of competent jurisdiction
in connection with any bankruptcy or reorganization proceeding of the Company.
This bond shall be exchangeable for other registered bonds of the same series
and for the same aggregate principal amount, in the manner and upon the
conditions prescribed in the Mortgage, upon the surrender of such bonds at the
office or agency of the Company in the Borough of Manhattan, The City of New
York. However, notwithstanding the provisions of Section 2.03 of the
Mortgage, no charge shall be made upon any registration of transfer or exchange
of bonds of said series. The Company and the Trustee, any paying agent and any
bond registrar may deem and treat the person in whose name this bond is
registered as the absolute owner hereof, whether or not this bond shall be
overdue, for the purpose of receiving payment and for all other purposes and
neither the Company nor the Trustee nor any paying agent nor any bond registrar
shall be affected by any notice to the contrary.

     No recourse
under or upon any obligation, covenant or agreement contained in the Mortgage,
or in any bond or coupon thereby secured, or because of any indebtedness thereby
secured, shall be had against any incorporator, or against any past, present or
future stockholder, officer or director, as such, of the Company or of any
successor corporation, either directly or through the Company or any successor
corporation under any rule of law, statute or constitution, or by the
enforcement of any assessment or by any legal or equitable proceeding or
otherwise; it being expressly agreed and understood that the Mortgage, and the
obligations thereby secured, are solely corporate obligations, and that no
personal liability whatever shall attach to, or be incurred by, such
incorporators, stockholders, officers or directors, as such, of the Company or
of any successor corporation, or any of them because of the incurring of the
indebtedness thereby authorized or under or by reason of any of the obligations,
covenants or agreements contained in the Mortgage or in any of the bonds or
coupons thereby secured, or implied therefrom.

14 

     This bond
shall not become valid or obligatory for any purpose until THE BANK OF NEW YORK,
the Trustee under the Mortgage, or its successor thereunder, shall have signed
the certificate of authentication endorsed hereon.

15 

     IN WITNESS
WHEREOF, JERSEY CENTRAL POWER & LIGHT COMPANY has caused this bond to be
signed in its name by the manual or facsimile signature of its President or one
of its Vice Presidents and its corporate seal, or a facsimile thereof, to be
affixed hereto and attested by the manual or facsimile signature of its
Secretary or one of its Assistant Secretaries.

Dated:

	 	 	 	 	 	 
	 	 	JERSEY CENTRAL POWER &
      LIGHT COMPANY
	
       
	 	 	 	 
	
      
	 	By:	 	 
	
      
	 	 	 	
      

    
	
      
	 	 	 	          (Vice)
      President

Attest:

	 	 	 
	
      
      

      
	 	 
	
      (Corporate)
    Secretary
	 	 

16 

[FORM OF TRUSTEE’S CERTIFICATE]

TRUSTEE’S AUTHENTICATION CERTIFICATE

     This bond is
one of the bonds of the series herein designated, provided for in the within
mentioned Mortgage.

	 	 	 	 	 
	 	 	THE BANK OF NEW YORK
	
       
	 	 	 	 
	
      
	 	By:	 	 
	
      
	 	 	 	 
	
      
	 	 	 	               Authorized
      Officer

[END OF FORM OF SENIOR NOTE SERIES F
BOND]

ARTICLE III
MISCELLANEOUS

     Section 3.01 Meaning of Certain
Terms. For all purposes hereof, except as the context may otherwise require,
(a) all terms contained herein shall have the meanings given such terms in,
and (b) all references herein to sections of the Original Indenture shall
be deemed to be to such sections of, the Original Indenture as the same
heretofore has been or hereafter may be amended by an indenture or indentures
supplemental thereto.

     Section 3.02 Original Indenture
and Supplemental Indentures Ratified and Confirmed. As amended and
supplemented by the aforesaid indentures supplemental thereto and by this
Fifty-fifth Supplemental Indenture, the Original Indenture is in all respects
ratified and confirmed and the Original Indenture and the aforesaid indentures
supplemental thereto and this Fifty-fifth Supplemental Indenture shall be read,
taken and construed as one and the same instrument.

     Section 3.03 Execution in
Counterparts. This Fifty-fifth Supplemental Indenture shall be
simultaneously executed in several counterparts, and all such counterparts
executed and delivered, each as an original, shall constitute but one and the
same instrument.

17 

     IN WITNESS
WHEREOF, JERSEY CENTRAL POWER & LIGHT COMPANY, party of the first part, has
caused this instrument to be signed in its name and behalf by its President or a
Vice President, and its corporate seal to be hereunto affixed and attested by
its Secretary or an Assistant Secretary and The Bank of New York, as Successor
Trustee as aforesaid, the party of the second part, in token of its acceptance
of the trust hereby created, has caused this instrument to be signed in its name
and behalf by an Authorized Officer and its corporate seal to be hereunto
affixed and attested by an Authorized Officer, all as of the day and year first
above written.

	 	 	 	 	 	 
	 	 	JERSEY CENTRAL POWER &
      LIGHT COMPANY
	
       
	 	 	 	 
	
      
	 	By: 	 	/s/ R. H. Marsh
	
      
	 	 	 	
      

       
	
      
	 	 	 	Richard H. Marsh
	
      
	 	 	 	Senior Vice President and Chief
	
      
	 	 	 	Financial
Officer

ATTEST:

	 	 	 
	
      /s/ David W.
      Whitehead
	 	 
	
      
      

      
	 	 
	
      David W.
Whitehead
	 	 
	
      Corporate
    Secretary
	 	 

Signed, sealed and delivered
by
               JERSEY
CENTRAL POWER & LIGHT
COMPANY
               in
the presence of:

	 	 	 
	
      /s/ Ermal Fatusha
	 	 
	
      
      

      
	 	 
	
      Ermal Fatusha
	 	 

	 	 	 
	
      /s/ James G.
Smith
	 	 
	
      
      

      
	 	 
	
      James G. Smith
	 	 

	 	 	 	 	 	 
	 	 	THE BANK OF NEW YORK
	
       
	 	 	 	 
	 	 	As Successor Trustee as
      aforesaid
	
       
	 	 	 	 
	
      
	 	BY: 	 	/s/ Patricia Gallagher
	
      
	 	 	 	
      

       
	
      
	 	 	 	Patricia Gallagher
	
      
	 	 	 	Vice
President

ATTEST:

	 	 	 
	
      /s/ Mary LaGumina
	 	 
	
      
      

      
	 	 
	
      Mary LaGumina
	 	 
	
      Vice President
	 	 

Signed, sealed and delivered
by
     THE BANK OF NEW
YORK
     in the presence of:

	 	 	 
	
      /s/ Barbara
    Bevelaqua
	 	 
	
      
      

      
	 	 
	
      Barbara Bevelaqua, Vice
      President
	 	 

	 	 	 
	
      /s/ Dorothy
Miller
	 	 
	
      
      

      
	 	 
	
      Dorothy Miller, Vice
      President
	 	 

	 	 	 	 	 
	STATE OF OHIO	 	 	)	 
	 	 	 	ss.:	 	 
	COUNTY OF SUMMIT	 	 	)	 

     BE IT
REMEMBERED that on this 20th day of April, 2004 before me, the
subscriber, a notary public in and for said County and State, personally
appeared David W. Whitehead, the Corporate Secretary of JERSEY CENTRAL POWER
& LIGHT COMPANY, the corporation named in and which executed the foregoing
instrument, who, being by me duly sworn according to law, does depose and say
and make proof to my satisfaction that he resides at 28159 Red Raven Road,
Pepper Pike, Ohio 44124; that he is the Corporate Secretary of JERSEY CENTRAL
POWER & LIGHT COMPANY; that the seal affixed to said instrument is the
corporate seal of said corporation, the same being well known to him; that it
was so affixed by the order of the Board of Directors of said corporation; that
Richard H. Marsh is the Senior Vice President and Chief Financial Officer of
said corporation; that he saw said Richard H. Marsh as such Senior Vice
President and Chief Financial Officer sign such instrument, and affix said seal
thereto and deliver said instrument and heard him declare that he signed, sealed
and delivered said instrument as the voluntary act and deed of said corporation
by its order and by order of its Board of Directors, for the uses and purposes
therein expressed; and that the said David W. Whitehead signed his name thereto
at the same time as subscribing witness, and that Jersey Central Power &
Light Company, the mortgagor, has received a true copy of said instrument.

	 	 	 	 
	
      
	 	/s/ Susie M. Hoisten
	
      
	 	 
	
      
	 	Susie M. Hoisten,
	
      
	 	Notary Public Residence Summit County
	
      
	 	Statewide Jurisdiction Ohio
	
      
	 	My commission expires Dec. 9, 2006
	
       
	 	 
	
      
	 	Subscribed and sworn to before me the
      day
and year aforesaid
	
       
	 	 
	
      
	 	[NOTARIAL
SEAL]

	 	 	 	 	 
	
      STATE OF NEW YORK

	 	 	)	 
	
      
	 	 	ss.:	 
	
      COUNTY OF NEW YORK
    
	 	 	)	 

     BE IT
REMEMBERED that on this 20th day of April, 2004 before me, the
subscriber, a notary public in and for said County and State, personally
appeared Mary LaGumina, a Vice President of THE BANK OF NEW YORK, the
corporation named in and which executed the foregoing instrument, who, being by
me duly sworn according to law, does depose and say and make proof to my
satisfaction that she resides at 36-26 213th Street, Bayside, New
York 11361; that she is a Vice President of THE BANK OF NEW YORK; that the seal
affixed to said instrument is the corporate seal of said corporation, the same
being well known to her; that it was so affixed by her pursuant to authority
granted by the Board of Directors of said corporation; that Patricia Gallagher
is a Vice President of said corporation; that she saw said Patricia Gallagher as
such Vice President sign and deliver said instrument and heard her declare that
she signed and delivered said instrument as the voluntary act and deed of said
corporation pursuant to authority granted by its Board of Directors, for the
uses and purposes therein expressed; and that the said Mary LaGumina signed her
name thereto at the same time as subscribing witness.

	 	 	 	 
	
      
	 	/s/ William J. Cassels
	
      
	 	 
	
      
	 	William J. Cassels
	
       
	 	 
	
      
	 	Subscribed and sworn to before me the
      day and year aforesaid
	
       
	 	 
	
      
	 	WILLIAM J. CASSELS
	
      
	 	Notary Public, State of New
  York
	
      
	 	No. 01CA5027729
	
      
	 	Qualified in Bronx County
	
      
	 	Commission Expires May 18,
    2006
	
       
	 	 
	
      
	 	[NOTARIAL SEAL]

	 	 	 	 	 
	
      STATE OF OHIO 
	 	 	)	 
	
      
	 	 	ss.:	 
	
      COUNTY OF SUMMIT 
	 	 	)	 

     On this
20th day of April, 2004, before me came Richard H. Marsh, to me
known, who, being by me duly sworn, did say that he resides at 1126 Woodhaven
Boulevard, Fairlawn, Ohio 44333; that he is the Senior Vice President and Chief
Financial Officer of JERSEY CENTRAL POWER & LIGHT COMPANY, one of the
corporations described in and which executed the above instrument; that he knows
the seal of said corporation; that the seal affixed to said instrument is such
corporate seal; that said seal was so affixed by order of the Board of Directors
of said corporation; and that he signed his name to said instrument by like
order.

	 	 	 	 
	
      
	 	/s/ Susie M. Hoisten,
	
      
	 	 
	
      
	 	Susie M. Hoisten,
	
      
	 	Notary Public Residence Summit
  County
	
      
	 	Statewide Jurisdiction Ohio
	
      
	 	My commission expires Dec. 9, 2006
	
       
	 	 
	
      
	 	Subscribed and sworn to before me the
      day and year aforesaid
	
       
	 	 
	
      
	 	[NOTARIAL
SEAL]

	 	 	 	 	 
	
      STATE OF NEW YORK

	 	 	)	 
	
      
	 	 	ss.:	 
	
      COUNTY OF NEW YORK
    
	 	 	)	 

     On this
20th day of April, 2004, before me came Patricia Gallagher, to me
known, who, being by me duly sworn, did say that she resides at 3684 Alcona
Street, Seaford, New York 11783; that she is a Vice President of THE BANK OF NEW
YORK, one of the corporations described in and which executed the above
instrument; that she knows the seal of said corporation; that the seal affixed
to said instrument is such corporate seal; that said seal was so affixed by
authority of the Board of Directors of said corporation; and that she signed her
name to said instrument by like authority.

	 	 	 	 
	
      
	 	/s/ William J. Cassels
	
      
	 	 
	
      
	 	William J. Cassels
	
       
	 	 
	
      
	 	Subscribed and sworn to before me the
      day and year aforesaid
	
       
	 	 
	
      
	 	WILLIAM J. CASSELS
	
      
	 	Notary Public, State of New
  York
	
      
	 	No. 01CA5027729
	
      
	 	Qualified in Bronx County
	
      
	 	Commission Expires May 18,
    2006
	
       
	 	 
	
      
	 	[NOTARIAL
SEAL]

CERTIFICATE OF RESIDENCE

     The Bank of
New York, Successor Trustee within named, hereby certifies that its precise
residence is 101 Barclay Street, in the Borough of Manhattan, in the City of New
York, in the State of New York.

	 	 	 	 	 	 
	 	 	THE BANK OF NEW YORK
	
       
	 	 	 	 
	
      
	 	By: 	 	/s/ Patricia Gallagher
	
      
	 	 	 	 
	
      
	 	 	 	               Vice
      President

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