Document:

AMENDMENT NO. 3 TO STOCK PURCHASE AGREEMENT

 

This Agreement amends the Stock Purchase Agreement dated August 18, 2017 (the " Agreement"), by and between Santa Fe Acquisitions, LLC ("Buyer"), Bullard' s Peak Corporation (" BPC"), and Black Hawk Consolidated Mines Company ("Seller").

 

RECITALS

 

WHEREAS, the Agreement required that $1,500,000 of the $3,000,000 Purchase Price be paid Seller by Buyer no later than August 30, 2017 (the "Closing Date"); and

 

WHEREAS, Buyer failed to pay such $1,500,000 of the Purchase Price by the Closing Date of August 30, 2017 , and therefore, is in breach of the Agreement; but did pay some more of the Purchase Price after August 30, 2017, and requested Seller enter into an Amendment to the Agreement extending the time for payment of the Purchase Price until January 31, 2018, with the unpaid Purchase Price accruing interest at 12 percent per annum per the Agreement; and

 

WHEREAS, the parties entered into Amendment No. 1 to Stock Purchase Agreement ("Amendment") extending the time for the Buyer to pay the Purchase Price; and

 

WHEREAS, Buyer breached Amendment No. 1 by failing to timely pay the $500,000 of the Purchase Price by January 31, 2018 required under Amendment No. 1; and

 

WHEREAS, on August 16, 2018, since Buyer still had not paid the remaining $500,000 of Purchase Price, Seller elected to hold Buyer in default of the Agreement and elected to retain all of the Purchase Price paid to Seller as liquidated damages, and declare the Agreement null and void as to Buyer' s rights to purchase the Stock; and

 

WHEREAS, Buyer then desired Seller to reinstate the Agreement and withdraw the August 16, 2018 election to terminate letter of Exhibit B and give Buyer additional time to pay the remaining Purchase Price, interest and late fees under the Agreement.

 

WHEREAS, Seller agreed for the second time to give Buyer addition al time to pay the remaining Purchase Price pursuant to Amendment No. 2 to Purchase Agreement dated October 12, 2018; and

 

WHEREAS, the Buyer breached Amendment No. 2 by failing to timely pay the amounts owed under Amendment 2.

 

NOW, THEREFORE , for good and valuable consideration, the receipt and sufficiency of which is hereby acknow ledged, the parties agree as follows:

 

1.Buyer has paid Seller on January 2, 2019 the sum of $65,000, consisting of (i) $50,000 of interest/late fees/extension fees, (ii) $10,000 attorney/accounting fees, and (iii) $5,000 road work on Seller's mining properties needed due to the delay in Closing of the Agreement. None of the $65,000 iscredited to the Purchase Price under the Agreement; but has been paid as a fee so Seller extends the Agreement. 

 

 

2.The balance of the Purchase Price owed, which is $250,365, shall be paid as follows: (i) 

$50,000 on or before January 31, 2019, (ii) $100,000 on or before February 28, 2019, and (iii) $100,365 on or before March 31, 2019. If any payments is not paid in collectible funds by wire transfer to Seller received on or before 5:00 p.m. central standard time by Seller on the dates above indicated; then all rights of the Buyer under the Agreement (as amended) shall become automatically null and void and Seller shall retain all monies paid Seller by Buyer as liquidated damages for Buyer's breach, and Seller shall have no further obligations to Buyer, including but not limited to, any obligation to transfer the Stock to Buyer pursuant to the terms of the Agreement (as amended).

 

3.Buyer acknowledges Seller has not made any representations or warranties to induce Buyer to sign the Agreement, Amendment 1, Amendment 2, and/or this Amendment 3. Buyer hereby releases, remises, discharges, indemnifies, and holds harmless Seller and BPC, (and their respective officers, directors, shareholders, agents, attorneys, accountants and assigns) from any and all liability, claims, lawsuits, investigations or causes of action regarding the Agreement (including Amendment 1, Amendment 2 and this Amendment 3), besides (i) the express obligations of Seller in Section 2.6 of the Agreement and (ii) the obligations of Seller to transfer the Stock, free and clear of liens and encumbrances, to Buyer if Buyer timely makes all payments hereunder, and signs the documents set forth in the Agreement at Closing. Buyer also releases, remises, discharges, indemnifies, and holds harmless any and all shareholders, directors, officers, agents, attorneys, accountants and assigns of Seller and/or BPC from any and all claims or causes of actions, known or unknown, contingent or liquidated, arising from the beginning of time to the date hereof regarding the Agreement, and acknowledges and agrees that it has only contracted with Seller under the Agreement and not with any individual. 

 

4.All capitalized words used herein shall have the same meaning as set forth in the Agreement. The name of Buyer was misspelled in the Agreement; the name is Santa Fe Acquisitions, LLC and this correction is reflected throughout the Agreement. 

 

5.Section 8.1 of the Agreement is modified so that all notices shall be addressed to Buyer at Santa Fe Acquisitions, LLC, c/o Attorney Thomas C. Pritchard, 800 Bering Drive, Suite 201, Houston, TX 77057, email pritchard@bplaw.com, facsimile 832-538-1265. 

 

6.Buyer has orally stated to Seller that Thomas Laws, prior President of Buyer, is no longer the chief executive officer or president of Buyer.   As such, Buyer represents and warrants to Seller that the person signing this Amendment No. 3 on behalf of Buyer has good and valid authority to bind Buyer to this Amendment No. 3. 

 

7.If Buyer timely pays all amounts due hereunder, then (i) Sections 2.7(A) of the Agreement will be deleted, and (ii) the Closing will take place on April 12, 2019 at 2:00 p.m. central standard time at the offices of Kilbourn Merchant Corporation, Germantown, Wisconsin pursuant to the remaining terms of the Agreement, with each party delivering to the other the documents and things required in the Agreement (as amended) without regard to the $1,500,000 Promissory Note referenced in Section 2.7 but with regard to the 2 percent NSR. 

 

8.Buyer acknowledges that prior to Closing, Bullard's Peak will transfer all its rights in the Granada Claim BLM Number 188086 to Robert Rodgers (or his assigns) for past consideration. 

9.This Amendment may be executed in any number of counterparts by email signatures and/or facsimile signatures and when put together shall be deemed an original Agreement. This Amendment No. 3 to the Agreement (with Exhibits), the Agreement, Amendment No. 1 and Amendment No. 2 to the Agreement, together constitute the entire Agreement between the Parties. 

 

Dated this day of   2019. 

 

 

	SELLER: BLACK HAWK CONSOLIDATED MINES COMPANY

	 

	BULLARD’S PEAK CORPORATION

	 

	 

	 

	 

	 

	By:

	 

	 

	By:

	 

	 

	Trevor Harder, President

	 

	 

	Trevor Harder, President

 

	BUYER: SANTA FE AQUISITIONS, LLC

	 

	 

	 

	 

	By:

	 

	 

	 

	 

	 

	Name:

	 

	 

	 

	 

	 

	Title:EX-4.01

 Exhibit 4.01 

SUPPLEMENTAL TRUST INDENTURE 

FROM 
 NORTHERN STATES POWER
COMPANY 
 (A WISCONSIN CORPORATION) 

TO 
 U.S. BANK NATIONAL
ASSOCIATION 
 TRUSTEE 
 DATED
AS OF 
 JULY 19, 2021 

SUPPLEMENTAL TO TRUST INDENTURE 

DATED APRIL 1, 1947 
 AND 

SUPPLEMENTAL AND RESTATED 
 TRUST
INDENTURE 
 DATED MARCH 1, 1991 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 PARTIES
	 		  	 	1	 
			
	 RECITALS
	 		  	 	1	 
			
	 ARTICLE I
	 	 SPECIFIC SUBJECTION OF ADDITIONAL PROPERTY TO THE LIEN OF THE INDENTURE
	  	 	8	 
			
	 Section 1.01
	 	 Grant of Certain Property, Including Personal Property to Comply with the Uniform Commercial
Code, Subject to Permitted Encumbrances Contained in the Indenture
	  	 	8	 
			
	 ARTICLE II
	 	 FORM AND EXECUTION OF SERIES DUE MAY 1, 2051
	  	 	9	 
			
	 Section 2.01
	 	 Series Due May 1, 2051
	  	 	9	 
			
	 Section 2.02
	 	 Redemption of Bonds
	  	 	10	 
			
	 Section 2.03
	 	 Surrender
	  	 	11	 
			
	 Section 2.04
	 	 Taxes and Governmental Charges
	  	 	11	 
			
	 Section 2.05
	 	 Restricted Securities
	  	 	11	 
			
	 Section 2.06
	 	 Home Office Payment
	  	 	12	 
			
	 ARTICLE III
	 	 APPOINTMENT OF AUTHENTICATING AGENT
	  	 	13	 
			
	 Section 3.01
	 	 Appointment of Agent or Agents for Bonds of Series due May 1, 2051
	  	 	13	 
			
	 Section 3.02
	 	 Concerning the Agent
	  	 	13	 
			
	 Section 3.03
	 	 Form of Alternate Certificate of Authentication
	  	 	14	 
			
	 Section 3.04
	 	 Limit on Location and Number of Agents
	  	 	14	 
			
	 ARTICLE IV
	 	 FINANCING STATEMENT TO COMPLY WITH THE UNIFORM COMMERCIAL CODE
	  	 	14	 
			
	 Section 4.01
	 	 Names and Addresses of Debtor and Securing Party
	  	 	14	 
			
	 Section 4.02
	 	 Property Subject to Lien
	  	 	14	 
			
	 Section 4.03
	 	 Maturity Dates and Principal Amounts of Obligations Secured
	  	 	15	 
			
	 Section 4.04
	 	 Financing Statement Adopted for all First Mortgage Bonds Listed in Section 4.03
	  	 	15	 
			
	 Section 4.05
	 	 Recording Data for the Indenture
	  	 	15	 
			
	 Section 4.06
	 	 Mortgage Bonds
	  	 	16	 

  
 i 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	 ARTICLE V
	 	 MISCELLANEOUS
	  	 	16	 
			
	 Section 5.01
	 	 Recitals of Fact, Except as Stated, are Statements of the Company
	  	 	16	 
			
	 Section 5.02
	 	 Supplemental Trust Indenture to be Construed as Part of the Indenture
	  	 	16	 
			
	 Section 5.03
	 	 Trust Indenture Act and Severability
	  	 	16	 
			
	 Section 5.04
	 	 Indenture
	  	 	16	 
			
	 Section 5.05
	 	 References to Either Party in Supplemental Trust Indenture Include Successors or
Assigns
	  	 	16	 
			
	 Section 5.06
	 	 Counterparts and Headings
	  	 	17	 
		
	 Schedule A – Properties
	  			

  
 ii 

 Supplemental Trust Indenture, made effective as of the 19th day of July, 2021, by and between NORTHERN STATES POWER COMPANY, a corporation duly organized and existing under and by virtue of the laws of the State of Wisconsin, having its principal office in
the City of Eau Claire, Wisconsin (the “Company”), party of the first part, and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under and by virtue of the laws of the United States of America, having
its principal office in the City of St. Paul, Minnesota, as successor trustee (the “Trustee”), party of the second part; 

WITNESSETH: 

WHEREAS, the Company, has heretofore executed and delivered to the Trustee its Trust Indenture, made as of April 1, 1947
(the “1947 Indenture”), whereby the Company granted, bargained, sold, warranted, released, conveyed, assigned, transferred, mortgaged, pledged, set over and confirmed to the Trustee, and to its respective successors in trust, all property,
real, personal and mixed then owned or thereafter acquired or to be acquired by the Company (except as therein excepted from the lien thereof) and subject to the rights reserved by the Company in and by the provisions of the 1947 Indenture, to be
held by said Trustee in trust in accordance with the provisions of the 1947 Indenture for the equal pro rata benefit and security of all and every of the bonds issued and to be issued thereunder in accordance with the provisions thereof; and 

WHEREAS, the Indenture (as defined below) provides that bonds may be issued thereunder in one or more series, each series to
have such distinctive designation as the Board of Directors of the Company may select for such series; and 
 WHEREAS, the
Company heretofore has executed and delivered to the Trustee the following additional Supplemental Trust Indentures which, in addition to conveying, assigning, transferring, mortgaging, pledging, setting over and confirming to the Trustee, and its
respective successors in said trust, additional property acquired by it subsequent to the preparation of the next preceding Supplemental Trust Indenture and adding to the covenants, conditions and 

 
agreements of the Indenture certain additional covenants, conditions and agreements to be observed by the Company, created the following series of First Mortgage Bonds: 

 

			
	 Date of Supplemental

Trust Indenture          
	  	 Designation of Series

	March 1, 1949	  	Series due March 1, 1979 (retired)
	June 1, 1957	  	Series due June 1, 1987 (retired)
	August 1, 1964	  	Series due August 1, 1994 (redeemed)
	December 1, 1969	  	Series due December 1, 1999 (redeemed)
	September 1, 1973	  	Series due October 1, 2003 (redeemed)
	February 1, 1982	  	Pollution Control Series A (redeemed)
	March 1, 1982	  	Series due March 1, 2012 (redeemed)
	June 1, 1986	  	Series due July 1, 2016 (redeemed)
	March 1, 1988	  	Series due March 1, 2018 (redeemed)
	April 1, 1991	  	Series due April 1, 2021 (redeemed)
	March 1, 1993	  	Series due March 1, 2023 (redeemed)
	October 1, 1993	  	Series due October 1, 2003 (retired)
	December 1, 1996	  	Series due December 1, 2026 (redeemed)
	September 1, 2003	  	Series A due October 1, 2018, and Series B due October 1, 2018 (redeemed)
	September 1, 2008	  	Series due September 1, 2038
	October 1, 2012	  	Series due October 1, 2042
	June 1, 2014	  	Series due June 15, 2024
	November 1, 2017	  	Series due December 1, 2047
	September 1, 2018	  	Series due September 1, 2048
	May 18, 2020	  	Series due May 1, 2051

 WHEREAS, the 1947 Indenture and all of the foregoing Supplemental Trust Indentures are referred
to herein collectively as the “Original Indenture”; and 
 WHEREAS, the Company heretofore has executed and
delivered to the Trustee a Supplemental and Restated Trust Indenture, dated March 1, 1991 (the “Restated Indenture”), which, in addition to conveying, assigning, transferring, mortgaging, pledging, setting over and confirming to the
Trustee, and its respective successors in said trust, additional property acquired by it subsequent to the preparation of the next preceding Supplemental Trust Indenture, amended and restated the Original Indenture (except for those Supplemental
Trust Indentures executed after March 1, 1991); and 
 WHEREAS, the Restated Indenture became effective and operative on
October 1, 1993; and 
 WHEREAS, the Original Indenture, the Restated Indenture and all trust indentures supplemental
thereto are referred to herein collectively as the “Indenture” and certain capitalized terms defined in Section 1.03 of the Restated Indenture are used with the same meanings herein; and 

WHEREAS, the Company is desirous of providing for the creation under the Indenture of a new series of First Mortgage Bonds,
said new series of bonds to be designated “First Mortgage 

  
 2 

 
Bonds, Series due May 1, 2051”, the bonds of said series to be issued as registered bonds without coupons in denominations of a multiple of $100,000 and integral multiples of $1,000 in
excess thereof, and the bonds of said series to be substantially in the following form: 
 (Form of Bonds of Series due May 1, 2051)

 THE SECURITIES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD,
PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (A) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT AND (B) IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE STATES OF THE UNITED STATES. IN CONNECTION WITH ANY TRANSFER,
THE HOLDER WILL DELIVER TO THE COMPANY AND THE TRUSTEE SUCH CERTIFICATES AND OTHER INFORMATION AS THE TRUSTEE MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. 

NORTHERN STATES POWER COMPANY 

(Incorporated under the laws of the State of Wisconsin) 

First Mortgage Bond 
 Series due
May 1, 2051  
 PPN 665789 A*4 

 

					
	No.             	 		  	$            

 NORTHERN STATES POWER COMPANY, a corporation organized and existing under and by virtue of the laws of the
State of Wisconsin (the “Company”), for value received, hereby promises to pay to                      or its registered assigns, by
the method and at the address specified by the Initial Bondholder (as defined herein) in Schedule B to the Bond Purchase Agreement, of even date herewith, between the Company and the purchasers named therein (the “Purchase Agreement”), the
sum of          Dollars in lawful money of the United States of America, on the 1st day of May 2051, and subject to Section 2.06 of the
Supplemental Trust Indenture, to pay interest hereon from the date hereof at the rate of 2.82 percent per annum, in like money, until the principal hereof becomes due and payable; said interest being payable to the person entitled to such
interest by the method and at the address specified by such Initial Bondholder on the 1st day of May and on the 1st day of November in each
year, commencing November 1, 2021; provided further that as long as there is no existing default in the payment of interest and except for the payment of defaulted interest, the interest payable on any May 1 or November 1 will be paid
to the person in whose name this bond was registered at the close of business on the record date (the April 15 prior to such May 1 or October 15 prior to such November 1 (whether or not a business day)). If any interest payment
date or date on which the principal of this bond is required to be paid is not a business day, then payment of principal, premium or interest need not be made on such date but may be made on the next succeeding business day with the same force and
effect as if made on such interest payment date or date on which the principal of this bond is required to be paid and, in the case of timely payment thereof, no interest shall accrue for the period from and after such interest payment date or the
date on which the principal of this bond is required to be paid. The term “business day” shall mean any day other than a Saturday or Sunday or a day on which the offices of the Trustee in the City of St. Paul, Minnesota are closed
pursuant to authorization of law. 

  
 3 

 This bond is one of a duly authorized issue of bonds of the Company, known as its First
Mortgage Bonds, of the series and designation indicated on the face hereof, which issue of bonds consists, or may consist, of several series of varying denominations, dates and tenor, all issued and to be issued under and equally secured (except
insofar as a sinking fund, or similar fund, established in accordance with the provisions of the Indenture may afford additional security for the bonds of any specific series) by a Trust Indenture dated April 1, 1947 (the “1947
Indenture”), as supplemented by 20 supplemental trust indentures (collectively, the “Supplemental Trust Indentures”), a Supplemental and Restated Trust Indenture dated March 1, 1991 (the “Restated Indenture”) and a new
supplemental trust indenture for the bonds of this series (the “Supplemental Trust Indenture”), all of which instruments are herein collectively called the “Indenture,” executed by the Company to U.S. Bank National Association,
as successor trustee (the “Trustee”). The Restated Indenture amends and restates the 1947 Indenture and certain of the Supplemental Trust Indentures and became effective and operative on October 1, 1993. Certain capitalized terms
defined in the Indenture are used with the same meanings herein. Reference is made to the Indenture for a complete description of its terms. Reference hereby is made to the Indenture for a description of the property mortgaged and pledged, the
nature and extent of the security, the rights of the registered holders of the bonds as to such security and the terms and conditions upon which the bonds may be issued under the Indenture and are secured. The principal hereof may be declared or may
become due on the conditions, in the manner and at the time set forth in the Indenture upon the happening of a Completed Default as provided in the Indenture. 

The term Initial Bondholder as used herein means any registered holder of First Mortgage Bonds listed on Schedule B to the Purchase Agreement.

 With the consent of the Company and to the extent permitted by and as provided in the Indenture, the rights and obligations of the
Company and of the registered holders of the bonds and the terms and provisions of the Indenture and of any instruments supplemental thereto may be modified or altered by the affirmative vote of the registered holders of at least 66 2/3% in
principal amount of the bonds then outstanding under the Indenture and any instruments supplemental thereto (excluding bonds disqualified from voting by reason of the interest of the Company or of certain related persons therein as provided in the
Indenture); provided that without the consent of all registered holders of all bonds affected no such modification or alteration shall permit the extension of the maturity of the principal of any bond or the reduction in the rate of interest hereon
or any other modification in the terms of payment of such principal or interest. 
 The Company and the Trustee may deem and treat the
person in whose name this bond is registered as the absolute owner hereof for the purpose of receiving payment of or on account of the principal hereof and interest hereon and for all other purposes and shall not be affected by any notice to the
contrary. 
 At any time prior to November 1, 2050 (which is the date that is six months prior to maturity of the bonds of this series
(the “Par Call Date”)), the Company may redeem, in whole or 

  
 4 

 
in part, the bonds of this series, on any date upon not less than 30 days’ previous notice to be given in the manner and with the effect provided in Section 10.02 of the Indenture, at a
redemption price equal to the greater of (i) 100% of the principal amount of such bonds of this series being redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the bonds of this
series being redeemed that would be due if such bonds matured on the Par Call Date (excluding the portion of any such accrued and unpaid interest to but excluding the date fixed for redemption), discounted to but excluding the date fixed for
redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below) plus 50 basis points plus, in each
case, accrued and unpaid interest thereon to but excluding the date fixed for redemption. 
 At any time on or after the Par Call Date, the
Company may redeem, in whole or in part, the bonds of this series, at 100% of the principal amount being redeemed plus accrued and unpaid interest thereon to but excluding the date fixed for redemption. 

“Comparable Treasury Issue” means the U.S. Treasury security selected by an Independent Investment Banker as having a maturity
comparable to the remaining term of the bonds being redeemed (assuming, for this purpose, that the bonds of this series matured on the Par Call Date) that would be utilized, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the bonds being redeemed. 

“Comparable Treasury Price” means with respect to any redemption date of the bonds of this series (1) the average of the
Reference Treasury Dealer Quotations for such date fixed for redemption, after excluding the highest and lowest of such Reference Treasury Dealer Quotations for such date fixed for redemption, or (2) if the Independent Investment Banker obtains
fewer than four of such Reference Treasury Dealer Quotations for the date fixed for redemption, the average of all of such Reference Treasury Dealer Quotations for the date fixed for redemption. 

“Independent Investment Banker” means one of the Reference Treasury Dealers or their respective successors or, if such firms or
their respective successors are unwilling or unable to select the Comparable Treasury Issue, an independent investment banking institution of national standing appointed by the Company. 

“Primary Treasury Dealer” means any primary U.S. Government securities dealer in the United States. 

“Reference Treasury Dealer” means three Primary Treasury Dealers selected by the Company after consultation with an Independent
Investment Banker provided, however, that if any of the foregoing ceases to be a Primary Treasury Dealer, the Company will appoint another Primary Treasury Dealer as a substitute. 

“Reference Treasury Dealer Quotations” means, for any Reference Treasury Dealer and any date fixed for redemption, the average, as
determined by an Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to an Independent Investment Banker by the Reference
Treasury Dealer at 5:00 p.m., Eastern time, on the third business day preceding the date fixed for redemption. 

  
 5 

 “Treasury Rate” means, with respect to any date fixed for redemption, the rate per
annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for
such date fixed for redemption. The Treasury Rate will be calculated on the third business day preceding the date fixed for redemption. 

This bond is transferable as prescribed in the Indenture by the registered holder hereof in person, or by his duly authorized attorney, at the
office of the Trustee in St. Paul, Minnesota, or elsewhere if authorized by the Company, upon surrender and cancellation of this bond, and thereupon a new bond or bonds of the same series and of a like aggregate principal amount will be issued to
the transferee in exchange therefor as provided in the Indenture, upon payment of taxes or other governmental charges, if any, that may be imposed in relation thereto; provided that this bond shall also be subject to the restrictions on transfer and
exchange that appear above. 
 Bonds of this series are interchangeable as to denominations in the manner and upon the conditions prescribed
in the Indenture. 
 No charge shall be made by the Company for any exchange or transfer of bonds of this series, other than for taxes or
other governmental charges, if any, that may be imposed in relation thereto. 
 The Company shall not be required to issue, transfer or
exchange any bond of this series during a period of 15 days immediately preceding (i) any selection of bonds of this series to be redeemed or (ii) any interest payment date. The Company shall not be required to transfer or exchange any
bond of this series called or being called for redemption in its entirety or to transfer or exchange the called portion of a bond of this series which has been called for partial redemption. 

No recourse shall be had for the payment of the principal of or any premium or the interest on this bond, or any part thereof, or of any claim
based hereon or in respect hereof or of said Indenture, against any incorporator, or any past, present or future shareholder, officer or director of the Company or of any predecessor or successor corporation, either directly or through the Company,
or through any such predecessor or successor corporation, or through any receiver or a trustee in bankruptcy, whether by virtue of any constitution, statute or rule of law or by the enforcement of any assessment or penalty or otherwise, all such
liability being, by the acceptance hereof and as part of the consideration for the issue hereof, expressly waived and released, as more fully provided in the Indenture. 

This bond shall not be valid or become obligatory for any purpose unless and until the certificate of authentication hereon shall have been
signed by or on behalf of U.S. Bank National Association, as successor Trustee under the Indenture, or its successor thereunder. 

  
 6 

 IN WITNESS WHEREOF, NORTHERN STATES POWER COMPANY has caused this bond to be signed in its
name by its President or a Vice President and its corporate seal, or a facsimile thereof, to be hereto affixed and attested by its Secretary or an Assistant Secretary. 
  

							
	Dated:	 	                    	  	NORTHERN STATES POWER COMPANY
				
	Attest:	 	
        [Form-Not for
Signature]
	  	By:	  	 [Form-Not for Signature]

		 		  		  	[Vice] President

 (Form of Trustee’s Certificate) 

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

			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 [Form-Not for Signature]

		 	Authorized Officer

 and 

WHEREAS, the Company is desirous of conveying, assigning, transferring, mortgaging, pledging, setting over and confirming to
the Trustee and to its respective successors in trust, additional property that was not expressly described in the Original Indenture, in the Restated Indenture or in any previous Supplemental Trust Indenture; and 

WHEREAS, the Indenture provides in substance that the Company and the Trustee may enter into indentures supplemental thereto
for the purposes, among others, of creating and setting forth the terms of any new series of bonds and of conveying, assigning, transferring, mortgaging, pledging, setting over and confirming to the Trustee additional property of the Company, and
for any other purpose not inconsistent with the terms of the Indenture; and 
 WHEREAS, the execution and delivery of this
Supplemental Trust Indenture have been duly authorized by a resolution adopted by the Board of Directors or a Committee of the Board of Directors of the Company; and 

WHEREAS, the Trustee has duly determined to execute this Supplemental Trust Indenture and to be bound, insofar as it may
lawfully do so, by the provisions hereof; 
 NOW, THEREFORE, Northern States Power Company, in consideration
of the premises and of one dollar duly paid to it by the Trustee at or before the ensealing and delivery of these presents, the receipt of which is hereby acknowledged, and other good and valuable considerations, does hereby covenant and agree to
and with U.S. Bank National Association, as 

  
 7 

 
Trustee, and its successors in the trust under the Indenture for the benefit of the registered holders of the bonds, or any of them, issued or to be issued thereunder, as follows: 

ARTICLE I 
 SPECIFIC SUBJECTION OF
ADDITIONAL PROPERTY 
 TO THE LIEN OF THE INDENTURE 

SECTION 1.01. The Company, in order to better secure the payment, of both the principal and interest, of all bonds of the Company at any
time outstanding under the Indenture according to their tenor and effect and the performance of and compliance with the covenants and conditions contained in the Indenture, has granted, bargained, sold, warranted, released, conveyed, assigned,
transferred, mortgaged, pledged, set over and confirmed, and by these presents does grant, bargain, sell, warrant, release, convey, assign, transfer, mortgage, pledge, set over and confirm, unto U.S. Bank National Association, as Trustee, and to its
respective successors in said trust forever, subject to the rights reserved by the Company in and by the provisions of the Indenture, all of the property described and mentioned or enumerated in the schedule annexed hereto and marked Schedule A,
reference to said schedule being made hereby with the same force and effect as if the same were incorporated herein at length; together with all and singular the tenements, hereditaments and appurtenances belonging and in any way appertaining to the
aforesaid property or any part thereof with the reversion and reversions, remainder and remainders, tolls, rents and revenues, issues, income, products and profits thereof; 

Also, in order to subject the personal property and chattels of the Company to the Lien of the Indenture and in conformity with the provisions
of the Uniform Commercial Code, all fossil, nuclear, hydro and other electric generating plants, including buildings and other structures, turbines, generators, boilers, reactors, nuclear fuel, other boiler plant equipment, condensing equipment and
all other generating equipment; substations; electric transmission and distribution systems, including structures, poles, towers, fixtures, conduits, insulators, wires, cables, transformers, services and meters; steam heating mains and equipment;
gas transmission and distribution systems, including structures, storage facilities, mains, compressor stations, purifier stations, pressure holders, governors, services and meters; office, shop and other buildings and structures, furniture and
equipment; apparatus and equipment of all other kinds and descriptions; all municipal and other franchises, all leaseholds, licenses, permits, privileges and patent rights, parts or parcels of such real property; all as now owned or hereafter
acquired by the Company pursuant to the provisions of the Indenture; 
 All the estate, right, title and interest and claim whatsoever, at
law as well as in equity, that the Company now has or hereafter may acquire in and to the aforesaid property and franchises and every part and parcel thereof; excluding, however, (1) all shares of stock, bonds, notes, evidences of indebtedness
and other securities other than such as may be or are required to be deposited from time to time with the Trustee in accordance with the provisions of the Indenture; (2) cash on hand and in banks other than such as may be or is required to be
deposited from time to time with the Trustee in accordance with the provisions of the Indenture; (3) contracts, claims, bills and accounts receivable and choses in action other than such as may be or are required to be assigned to the Trustee
in accordance with the provisions of the Indenture; (4) motor vehicles; (5) any stock of goods, wares and merchandise, equipment and supplies acquired for the purpose of sale or lease in the usual course of business or for the purpose of
consumption in the operation, construction or repair of any of the properties of the Company; and (6) the properties described in Schedule B annexed to the 1947 Indenture; 

  
 8 

 To have and to hold all said property, real, personal and mixed, mortgaged, pledged or
conveyed by the Company as aforesaid, or intended so to be, to the Trustee and its successors and assigns forever, subject, however, to Permitted Encumbrances and to the further reservations, covenants, conditions, uses and trusts set forth
in the Indenture; in trust nevertheless for the same purposes and upon the same conditions as are set forth in the Indenture. 
 ARTICLE II

 FORM AND EXECUTION OF SERIES DUE MAY 1, 2051 

SECTION 2.01. There is hereby created, for issuance under the Indenture, a series of bonds designated Series due May 1, 2051, each
of which shall bear the descriptive title “First Mortgage Bonds, Series due May 1, 2051,” (such bonds, the “Series 2051 Bonds”) and the form thereof shall contain suitable provisions with respect to the matters specified in
this Section 2.01. The bonds of said series shall be substantially of the tenor and purport hereinbefore recited. The bonds of said series shall initially be authenticated and delivered in the aggregate principal amount of $100,000,000. The
bonds of said series shall mature on May 1, 2051, and shall be issued as registered bonds without coupons in denominations of a multiple of $100,000 and integral multiples of $1,000 in excess thereof. The bonds of said series shall bear
interest at the rate of 2.82% per annum payable semi-annually on May 1 and November 1 of each year commencing November 1, 2021, and subject to Section 2.06 hereof, the principal and interest shall be payable to the Initial
Bondholder entitled to such payments by the method and at the address specified by such Initial Bondholder. Interest on the Series 2051 Bonds shall be calculated on the basis of a 360-day year consisting of
twelve 30-day months. If any interest payment date or date on which the principal of the Series 2051 Bonds is required to be paid is not a business day, then payment of principal, premium or interest need not
be made on such date but may be made on the next succeeding business day with the same force and effect as if made on such interest payment date or date on which the principal of the Series 2051 Bonds is required to be paid and, in the case of
timely payment thereof, no interest shall accrue for the period from and after such interest payment date or the date on which the principal of the Series 2051 Bonds is required to be paid. The Series 2051 Bonds shall be dated as of the date of
authentication thereof by the Trustee. 
 As long as there is no existing default in the payment of interest on the Series 2051 Bonds, the
person in whose name any Series 2051 Bond is registered at the close of business on any Regular Record Date with respect to any interest payment date shall be entitled to receive the interest payable on such interest payment date notwithstanding any
transfer or exchange of such Series 2051 Bond subsequent to the Regular Record Date and on or prior to such interest payment date. Defaulted Interest shall be paid by the Company as provided in Section 2.03 of the Indenture. 

The term “Regular Record Date” as used in this Section 2.01 with respect to any interest payment date (May 1 or November 1)
shall mean the April 15 prior to such May 1 or October 15 prior to such November 1 (whether or not a business day). The term “business day” as used in this Section 2.01 shall mean any day other than a Saturday or
Sunday or a day on which the offices of the Trustee in the City of St. Paul, Minnesota are closed pursuant to authorization of law. 

  
 9 

 SECTION 2.02. At any time prior to November 1, 2050 (which is the date that is six
months prior to maturity of the Series 2051 Bonds (the “Par Call Date”)), the Company may redeem, in whole or in part, the Series 2051 Bonds, on any date upon not less than 30 days’ previous notice to be given in the manner and with
the effect provided in Section 10.02 of the Indenture, at a redemption price equal to the greater of (i) 100% of the principal amount of such Series 2051 Bonds being redeemed and (ii) the sum of the present values of the remaining
scheduled payments of principal and interest on the Series 2051 Bonds being redeemed that would be due if such Bonds matured on the Par Call Date (excluding the portion of any such accrued and unpaid interest to but excluding the date fixed for
redemption), discounted to but excluding the date fixed for redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the
Treasury Rate (as defined below) plus 50 basis points, plus, in each case, accrued and unpaid interest thereon to but excluding the date fixed for redemption. At any time on or after the Par Call Date, the Company may redeem, in whole or in part,
the Series 2051 Bonds at 100% of the principal amount being redeemed plus accrued and unpaid interest thereon to but excluding the date fixed for redemption. 

“Comparable Treasury Issue” means the U.S. Treasury security selected by an Independent Investment Banker as having a maturity
comparable to the remaining term of the bonds being redeemed (assuming, for this purpose, that the Series 2051 Bonds matured on the Par Call Date) that would be utilized, at the time of selection and in accordance with customary financial practice,
in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Series 2051 Bonds being redeemed. 

“Comparable Treasury Price” means with respect to any redemption date of the Series 2051 Bonds (1) the average of the Reference
Treasury Dealer Quotations for such date fixed for redemption, after excluding the highest and lowest of such Reference Treasury Dealer Quotations for such date fixed for redemption, or (2) if the Independent Investment Banker obtains fewer
than four of such Reference Treasury Dealer Quotations for the date fixed for redemption, the average of all of such Reference Treasury Dealer Quotations for the date fixed for redemption. 

“Independent Investment Banker” means one of the Reference Treasury Dealers or their respective successors or, if such firms or
their respective successors are unwilling or unable to select the Comparable Treasury Issue, an independent investment banking institution of national standing appointed by the Company. 

“Primary Treasury Dealer” means any primary U.S. Government securities dealer in the United States. 

“Reference Treasury Dealer” means three Primary Treasury Dealers selected by the Company after consultation with an Independent
Investment Banker provided, however, that if any of the foregoing ceases to be a Primary Treasury Dealer, the Company will appoint another Primary Treasury Dealer as a substitute. 

“Reference Treasury Dealer Quotations” means, for any Reference Treasury Dealer and any date fixed for redemption, the average, as
determined by an Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a 

  
 10 

 
percentage of its principal amount) quoted in writing to an Independent Investment Banker by the Reference Treasury Dealer at 5:00 p.m., Eastern time, on the third business day preceding the date
fixed for redemption. 
 “Treasury Rate” means, with respect to any date fixed for redemption, the rate per annum equal to the
semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such date fixed for
redemption. The Treasury Rate will be calculated on the third business day preceding the date fixed for redemption. 
 The Series 2051 Bonds
are not subject to a sinking fund. 
 The redemption prices of the Series 2051 Bonds need not be specified in any temporary bond of said
series if an appropriate reference be made in said temporary bond to the provision of this Section 2.02. 
 SECTION 2.03. The
registered owner of any Series 2051 Bond or Bonds at his, her or its option may surrender the same at the office of the Trustee in St. Paul, Minnesota, or elsewhere if authorized by the Company, for cancellation, in exchange for other bonds of the
said series of the same aggregate principal amount, bearing interest as provided in Section 2.01 hereof thereupon, and upon receipt of any payment required under the provisions of Section 2.04 hereof, the Company shall execute and deliver
to the Trustee and the Trustee shall authenticate and deliver such other registered bonds to such registered holder at its office or at any other place specified as aforesaid. 

SECTION 2.04. No charge shall be made by the Company for any exchange or transfer of the Series 2051 Bonds other than for taxes or other
governmental charges, if any, that may be imposed in relation thereto. 
 SECTION 2.05. All Series 2051 Bonds, and all bonds issued
upon registration of, transfer of or in exchange for, any such bonds of said series, shall be restricted securities (within the meaning of Rule 144 under the Securities Act of 1933 (the “Securities Act”); hereinafter, collectively,
“Restricted Securities”) and shall be subject to the restrictions on transfer provided in the legends set forth on the Restricted Securities. The registered holder of each Restricted Security, by such registered holder’s acceptance
thereof, agrees to be bound by such restrictions on transfer. All Restricted Securities shall bear on their faces the applicable legends limiting transferability set forth on the form of bond in the recitals hereto. 

Each registered holder will be deemed to have represented and agreed to offer, sell, pledge or otherwise transfer such Series 2051 Bonds only
in accordance with the legend set forth on the face of the Restricted Securities. 
 Subject to the restrictions on transfer and exchange
set forth herein and in the Indenture, the holder of any Series 2051 Bonds issued hereunder may transfer or exchange such bonds in whole or in part (in a principal amount which is an integral multiple of $100,000 or in an amount which is not an
integral multiple of $100,000 if the holder is transferring or exchanging all of the bonds of said series held by such holder) by surrendering them at the Corporate Trust Office of 

  
 11 

 
the Trustee or at the office of the transfer agent, together with (a), an executed instrument of assignment and transfer (in the case of a transfer) or a written request for exchange (in the case
of exchange), and (b) additional certifications and evidence that such transfer or exchange is in compliance with the Securities Act and the restrictions on transfer set forth in such Series 2051 Bonds as may be required pursuant to the terms
of this Supplemental Trust Indenture. 
 Upon surrender of a definitive Series 2051 Bond for transfer or exchange with the appropriate
documentation, subject to the restrictions described herein and in the Indenture, the Trustee will, within five business days of such request if made at the Corporate Trust Office of the Trustee, or within 10 business days if made at the office of a
transfer agent (other than the Trustee), authenticate and deliver at the Corporate Trust Office of the Trustee or the office of the transfer agent, as the case may be, to the transferee (in the case of transfer) or registered holder (in the case of
exchange) or send by first class mail at the risk of the transferee (in the case of transfer) or registered holder (in the case of exchange) to such address as the transferee or holder, as applicable, may request, a definitive bond or bonds of said
series, as the case may require, for a like aggregate principal amount and in such authorized denomination or denominations as may be requested. The presentation for transfer or exchange of any definitive Series 2051 Bond will not be valid unless
made at the Corporate Trust Office of the Trustee or at the office of a transfer agent by the registered holder in person or by a duly authorized attorney-in-fact. 

SECTION 2.06. So long as any Initial Bondholder or its nominee shall be the registered holder of any Series 2051 Bond, and
notwithstanding anything contained in the Restated Indenture, the Company will pay all sums becoming due on such bond for principal, premium, if any, and interest by the method and at the address specified for such purpose for such Initial
Bondholder in Schedule B to the Purchase Agreement, or by such other method (reasonably acceptable to the Trustee) or at such other address as such Initial Bondholder shall have from time to time specified to the Trustee in writing for such purpose,
without the presentation or surrender of such bond, except that concurrently with payment and redemption in full of any such bond, the Initial Bondholder shall surrender such bond for cancellation to the Company at its principal office or place of
payment designated by the Company pursuant to Article II of the Restated Indenture and Section 2.05 hereof. The Company shall afford the benefits of this Section 2.06 to any Institutional Investor (as defined below) that is the direct or
indirect transferee of any Series 2051 Bond purchased by any Initial Bondholder under the Purchase Agreement and that has made the same agreement relating to such bond as such Initial Bondholder have made in this
Section 2.06.    Upon receiving payment as specified above without the presentation or surrender of any Series 2051 Bond, such Initial Bondholder, its nominee or subsequent Institutional Investor shall be deemed to have
agreed to indemnify the Company and the Trustee for, and to hold each of them harmless against, any loss, liability or expense incurred without negligence, willful misconduct or bad faith on either of their parts, arising out of or in connection
with such Initial Bondholder, its nominee’s or such subsequent Institutional Investor’s failure to comply with the provisions of this Section 2.06, including the costs of defending itself in connection therewith, such indemnity to
survive the payment of such bond and any resignation or removal of the Trustee. 
 The term “Institutional Investor” means
(a) any Initial Bondholder, (b) any holder of a bond (together with one or more of its affiliates) holding more than 5% of the aggregate principal amount of the Series 2051 Bonds then outstanding, (c) any bank, trust company, savings
and 

  
 12 

 
loan association or other financial institution, any pension plan, any investment company, any insurance company, any broker or dealer, or any other similar financial institution or entity,
regardless of legal form, and (d) any Related Fund (as defined in the Purchase Agreement) of any holder of any Series 2051 Bond. 

ARTICLE III 
 APPOINTMENT OF
AUTHENTICATING AGENT 
 SECTION 3.01. The Trustee shall, if requested in writing to do so by the Company, promptly appoint an agent or
agents of the Trustee who shall have authority to authenticate registered Series 2051 Bonds in the name and on behalf of the Trustee. Such appointment by the Trustee shall be evidenced by a certificate of a vice-president of the Trustee delivered to
the Company prior to the effectiveness of such appointment. 
 SECTION 3.02. (a) Any such authenticating agent shall be acceptable
to the Company and at all times shall be a corporation which is organized and doing business under the laws of the United States or of any State, is authorized under such laws to act as authenticating agent, has a combined capital and surplus of at
least $10,000,000 and is subject to supervision or examination by federal or state authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining
authority, then for the purposes of this Section 3.02, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. 

(b)    Any corporation into which any authenticating agent may lawfully be merged or converted or with which it may be
consolidated, or any corporation resulting from any merger, conversion or consolidation to which any authenticating agent shall be a party, or any corporation succeeding to the corporate agency business of any authenticating agent, shall continue to
be the authenticating agent without the execution or filing of any paper or any further act on the part of the Trustee or the authenticating agent. 

(c)    Any authenticating agent at any time may resign by giving written notice of resignation to the Trustee and to the
Company. The Trustee may at any time, and upon written request of the Company to the Trustee shall, terminate the agency of any authenticating agent by giving written notice of termination to such authenticating agent and to the Company. Upon
receiving such a notice of resignation or upon such a termination, or in case at any time any authenticating agent shall cease to be eligible in accordance with the provisions of this Section 3.02, the Trustee, unless otherwise requested in
writing by the Company, promptly shall appoint a successor authenticating agent, which shall be acceptable to the Company. Any successor authenticating agent upon acceptance of its appointment hereunder shall become vested with all the rights,
powers, duties and responsibilities of its predecessor hereunder, with like effect as if originally named. No successor authenticating agent shall be appointed unless eligible under the provisions of this Section 3.02. 

(d)    The Trustee agrees to pay to any authenticating agent, appointed in accordance with the provisions of this
Section 3.02, reasonable compensation for its services, and the Trustee shall be entitled to be reimbursed for such payments. 

  
 13 

 SECTION 3.03. If an appointment is made pursuant to this Article III, the registered
Series 2051 Bonds shall have endorsed thereon, in addition to the Trustee’s Certificate, an alternate Trustee’s Certificate in the following form: 

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

 

			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 [Form-Not for Signature]

		 	 Authenticating Agent

		
	By:	 	 [Form-Not for Signature]

		 	 Authorized Officer

 SECTION 3.04. No provision of this Article III shall require the Trustee to have at any time more
than one such authenticating agent for any one State or to appoint any such authenticating agent in the State in which the Trustee has its principal place of business. 

ARTICLE IV 
 FINANCING STATEMENT TO
COMPLY WITH 
 THE UNIFORM COMMERCIAL CODE 

SECTION 4.01. The name and address of the debtor and secured party are set forth below: 

 

			
	Debtor:	  	 Northern States Power Company
 c/o Dawn Schultz,
Siting & Land Rights
 Xcel Energy
 PO Box 8

Eau Claire, WI 54702-0008

		
	Secured Party:	  	 U.S. Bank National Association, as Trustee
 c/o
U.S. Bank Global Corporate Trust Services
 60 Livingston Avenue,
EP-MN-WS3C
 St. Paul, Minnesota 55107

 NOTE: Northern States Power Company, the debtor above named, is “a transmitting utility” under the
Uniform Commercial Code as adopted in Wisconsin and Michigan. 
 SECTION 4.02. Reference to Article I hereof is made for a description
of the property of the debtor covered by this Financing Statement with the same force and effect as if incorporated in this Section 4.02 at length. 

  
 14 

 SECTION 4.03. The maturity dates and respective principal amounts of obligations of the
debtor secured and presently to be secured by the Indenture, reference to all of which for the terms and conditions thereof is hereby made with the same force and effect as if incorporated herein at length, are as follows: 

 

					
	 First Mortgage Bonds
	  	Principal Amount	 
	Series due September 1, 2038	  	$	200,000,000	 
	Series due October 1, 2042	  	$	100,000,000	 
	Series due June 15, 2024	  	$	200,000,000	 
	Series due December 1, 2047	  	$	100,000,000	 
	Series due September 1, 2048	  	$	200,000,000	 
	Series due May 1, 2051	  	$	100,000,000	 
	Series due May 1, 2051	  	$	100,000,000	 

 SECTION 4.04. This Financing Statement is hereby adopted for all of the First Mortgage Bonds of the
Series mentioned above secured by said Indenture. 
 SECTION 4.05. The 1947 Indenture, the Restated Indenture and the Supplemental
Trust Indentures, as set forth below, have been filed or recorded in each and every office in the States of Wisconsin and Michigan designated by law for the filing or recording thereof in respect of all property of the Company subject thereto: 

 

			
	Original Indenture	 	Supplemental Trust Indenture
	 Dated April 1, 1947
	 	Dated March 1, 1949
		
	Supplemental Trust Indenture	 	Supplemental Trust Indenture
	 Dated June 1, 1957
	 	Dated August 1, 1964
		
	Supplemental Trust Indenture	 	Supplemental Trust Indenture
	 Dated December 1, 1969
	 	Dated September 1, 1973
		
	Supplemental Trust Indenture	 	Supplemental Trust Indenture
	 Dated February 1, 1982
	 	Dated March 1, 1982
		
	Supplemental Trust Indenture	 	Supplemental Trust Indenture
	 Dated June 1, 1986
	 	Dated March 1, 1988
		
	Supplemental and Restated Trust Indenture	 	Supplemental Trust Indenture
	 Dated March 1, 1991
	 	Dated April 1, 1991
		
	Supplemental Trust Indenture	 	Supplemental Trust Indenture
	 Dated March 1, 1993
	 	Dated October 1, 1993
		
	Supplemental Trust Indenture	 	Supplemental Trust Indenture
	 Dated December 1, 1996
	 	Dated September 1, 2003

  
 15 

			
	 Supplemental Trust Indenture
	 	 Supplemental Trust Indenture

	 Dated September 1, 2008
	 	Dated October 1, 2012
		
	 Supplemental Trust Indenture
	 	 Supplemental Trust Indenture

	 Dated June 1, 2014
	 	Dated November 1, 2017
		
	 Supplemental Trust Indenture
	 	 Supplemental Trust Indenture

	 Dated September 1, 2018
	 	Dated May 18, 2020

 SECTION 4.06. The property covered by this Financing Statement also shall secure additional series of
First Mortgage Bonds of the debtor that may be issued from time to time in the future in accordance with the provisions of the Indenture. 

ARTICLE V 
 MISCELLANEOUS 

SECTION 5.01. The recitals of fact herein, except the recital that the Trustee has duly determined to execute this Supplemental Trust
Indenture and be bound, insofar as it may lawfully so do, by the provisions hereof and in the bonds shall be taken as statements of the Company and shall not be construed as made by the Trustee. The Trustee makes no representations as to the value
of any of the property subjected to the Lien of the Indenture, or any part thereof, or as to the title of the Company thereto, or as to the security afforded thereby and hereby, or as to the validity of this Supplemental Trust Indenture or of the
bonds issued under the Indenture by virtue hereof (except the Trustee’s certificate), and the Trustee shall incur no responsibility in respect of such matters. 

SECTION 5.02. This Supplemental Trust Indenture shall be construed in connection with and as a part of the Indenture. 

SECTION 5.03. (a) If any provision of this Supplemental Trust Indenture limits, qualifies or conflicts with another provision of the
Indenture required to be included in indentures qualified under the Trust Indenture Act of 1939, as amended (as enacted prior to the date of this Supplemental Trust Indenture) by any of the provisions of Sections 310 to 317, inclusive, of the said
Act, such required provisions shall control. 
 (b)    In case any one or more of the provisions contained in this
Supplemental Trust Indenture or in the bonds issued hereunder shall be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be
affected, impaired, prejudiced or disturbed thereby. 
 SECTION 5.04. Wherever in this Supplemental Trust Indenture the word
“Indenture” is used without the prefix “1947,” “Original,” “Restated” or “Supplemental,” such word was used intentionally to include in its meaning the 1947 Indenture, as amended and restated by the
Restated Indenture, and all indentures supplemental thereto. 
 SECTION 5.05. Wherever in this Supplemental Trust Indenture either of
the parties hereto is named or referred to, this shall be deemed to include the successors or assigns of such party, and all the covenants and agreements in this Supplemental Trust Indenture contained by or on behalf of the Company or by or on
behalf of the Trustee shall bind and inure to the benefit of the respective successors and assigns of such parties, whether so expressed or not. 

  
 16 

 SECTION 5.06. (a) This Supplemental Trust Indenture may be executed simultaneously
in several counterparts, and all said counterparts executed and delivered, each as an original, shall constitute but one and the same instrument. 

(b)    The Table of Contents and the descriptive headings of the several Articles of this Supplemental Trust Indenture
were formulated, used and inserted in this Supplemental Trust Indenture for convenience only and shall not be deemed to affect the meaning or construction of any of the provisions hereof. 

 
  

 

  
 17 

 IN WITNESS WHEREOF, NORTHERN STATES POWER COMPANY, a Wisconsin corporation, party of the
first part, has caused its corporate name to be hereunto affixed, and this Supplemental Trust Indenture, to be signed by its President or a Vice President, and attested by an authorized officer, for and in its behalf, and U.S. BANK NATIONAL
ASSOCIATION, a national banking association duly organized and existing under and by virtue of the laws of the United States of America, as Trustee, party of the second part, to evidence its acceptance of the trust hereby created, has caused this
Supplemental Trust Indenture to be signed by its President or a Vice President, and attested by an authorized officer, for and in its behalf, all done this 14th day of July, 2021. 

 

			
	NORTHERN STATES POWER COMPANY
	
	 /s/ Paul A. Johnson

	By:	 	Paul A. Johnson
	Its:	 	Vice President, Treasurer

  

			
	Attest:
	
	 /s/ Amy L. Schneider

	By:	 	Amy L. Schneider
	Its:	 	Vice President, Corporate Secretary

  
 [Signature page to
Supplemental Trust Indenture] 

 
			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
	
	 /s/ Joshua A. Hahn

	By:	 	Joshua A. Hahn
	Its:	 	Vice President

  

			
	Attest:
	
	 /s/ Donald T. Hurrelbrink

	By:	 	Donald T. Hurrelbrink
	Its:	 	Vice President

  
 [Signature page to
Supplemental Trust Indenture] 

													
	STATE OF MINNESOTA	 	        )	  		  		  		  		  	
		 	        )	  	SS.:	  		  		  		  	
	COUNTY OF WASHINGTON	 	        )	  		  		  		  		  	

 On this the 14th day of July, 2021, before me, Amy
Deborah Reineke, a Notary Public, the undersigned officer, personally appeared Paul A. Johnson and Amy L. Schneider, who acknowledged themselves to be the Vice President, Treasurer and the Vice President, Corporate Secretary, respectively, of
Northern States Power Company, a Wisconsin corporation, and that they, as such Vice President, Treasurer and Vice President, Corporate Secretary, respectively, being authorized to do so, executed the foregoing instrument for the purposes therein
contained, by signing the name of the corporation by themselves as Paul A. Johnson and Amy L. Schneider, respectively. 
 IN
WITNESS WHEREOF, I hereunto set my hand and official seal. 
  

							
	/s/ Amy Deborah
Reineke                                        
    	 		 	
	Amy Deborah Reineke	 		 	
	 Notary Public In and For County of Washington

State of Minnesota
	 		 	
	My commission expires: January 31, 2026	 	  	 	
	
	 (NOTARY SEAL)

  
 [Notary page to
Supplemental Trust Indenture] 

													
	STATE OF MINNESOTA	 	)	  		  		  		  		  	
		 	)	  	SS.:	  		  		  		  	
	COUNTY OF RAMSEY	 	)	  		  		  		  		  	

 On this the 13th day of July, 2021, before me, Judy A.
Galberth, notary public, the undersigned officer, personally appeared Joshua A. Hahn and Donald T. Hurrelbrink, who acknowledged themselves to each be a Vice President of U.S. Bank National Association, a national banking association, and that they,
as such Vice Presidents, being authorized to do so, executed the foregoing instrument for the purposes therein contained, by signing the name of the corporation by themselves as Vice President and Vice President, respectively. 

IN WITNESS WHEREOF, I hereunto set my hand and official seal. 

 

							
	/s/ Judy Ann
Galberth                                        
    	 		 	
	Judy Ann Galberth	 		 	
	 Notary Public In and For County of Ramsey

State of Minnesota
	 		 	
	My commission expires: January 31, 2026	 	  	 	
	
	 (NOTARY SEAL)

  
 [Notary page to
Supplemental Trust Indenture] 

 SCHEDULE A 

The property referred to in the granting clause in the foregoing Supplemental Trust Indenture from Northern States Power Company to U.S. Bank National
Association, as Trustee, dated July 19, 2021 includes parts or parcels of real property and other property hereinafter more specifically described. Such description, however, is not intended to limit or impair the scope or intention of the
general description contained in the granting clauses or elsewhere herein or in the Indenture. 
 I. PROPERTIES IN THE STATE OF WISCONSIN

  

	1.	 The following described real property, situated, lying and being in the County of Clark, to wit:

 Neillsville Service Center 

Lot One (1) of Clark County Certified Survey Map No. 748 recorded in Volume 611 Records, page 79 as Document No. 483643, City of
Neillsville, Clark County, Wisconsin. 
 The Parcel Identification Number is 261.1376.007. 

 

	2.	 The following described real property, situated, lying and being in the County of Dunn, to wit:

 Cady Creek Substation 

Lot 1 of Certified Survey Map No. 4686, as recorded in Vol. 23 of Survey Maps, Page 126, as Doc. No. 647902; being a part of the
NW1/4 of the NW1/4 and the SW1/4 of the NW1/4 of Section 31, Township 27 North, Range 14 West, Town of Weston, Dunn County, Wisconsin. 

The Parcel Identification Number is 1704222714312300007. 
  

	3.	 The following described real property, situated, lying and being in the County of St. Croix, to wit:

 Rail Park Substation 

Lot Two (2) of Certified Survey Map as recorded in Volume 30 of Surveys on Page 6798, as Document No. 1102094, located in and being
part of the Southeast Quarter of the Northeast Quarter (SE1/4-NE1/4) and in part of the Northeast Quarter of the Northeast Quarter (NE1/4-NE1/4), of Section Twenty-two (22), Township Twenty-nine (29) North, Range Eighteen (18) West, Village of Roberts, St. Croix County, Wisconsin. 

The Parcel Identification Number is part of
176-1070-30-000. 

  
 A-1 

 II. TRANSMISSION LINES OF THE COMPANY 

IN THE STATE OF WISCONSIN 

The electric transmission lines of the Company, including towers, poles, pole lines, wire switch racks, switchboards, insulators, and other
appliances and equipment, and all other property forming a part thereof or appertaining thereto, and all service lines extending therefrom; together with all rights for or relating to the construction, maintenance, or operation thereof, through,
over, under, or upon any private property or public street or highways within as well as without the corporate limits of any municipal corporation, and particularly the following described lines, to wit: 

Line 3404 
 Dunn County 

Section 14, Township 28 North, Range 13 West 

Line 3408 
 Buffalo County

 Section 7, Township 24 North, Range 10 West 

Line 3418 
 Chippewa County

 Section 5, Township 28 North, Range 7 West 

Line 3427 
 Polk County 

Section 19, Township 32 North, Range 15 West 

Line 3428 
 Polk County 

Section 19, Township 32 North, Range 15 West 

Line 3429 
 Barron County

 Section 6, Township 33 North, Range 14 West 

Section 31, Township 34 North, Range 14 West 

Line 3470 
 Bayfield County

 Section 18, Township 43 North, Range 7 West 

  
 A-2 

 III. TRANSMISSION LINES OF THE COMPANY 

IN THE STATE OF MICHIGAN 
 The electric
transmission lines of the Company, including towers, poles, pole lines, wire switch racks, switchboards, insulators, and other appliances and equipment, and all other property forming a part thereof or appertaining thereto, and all service lines
extending therefrom; together with all rights for or relating to the construction, maintenance, or operation thereof, through, over, under, or upon any private property or public street or highways within as well as without the corporate limits of
any municipal corporation, and particularly the following described lines, to wit: 
 Line 3325 

Gobebic County 

Section 22, Township 47 North, Range 47 West 

Line 3352 
 Gobebic County

 Section 9, Township 46 North, Range 43 West 

  
 A-3 

 COMPANY’S RECEIPT FOR COPY 

The undersigned, Northern States Power Company, a Wisconsin corporation, the Company described in the foregoing instrument, hereby
acknowledges that it has this day received from U.S. Bank National Association the Supplemental Trust Indenture described therein, a full, true, complete, and correct copy of said instrument with signatures and acknowledgments thereon shown. Dated
this 14th day of July, 2021. 
  

			
	NORTHERN STATES POWER COMPANY
	
	 /s/ Paul A. Johnson

	By:	 	Paul A. Johnson
	Its:	 	Vice President, Treasurer

  

			
	Attest:
	
	 /s/ Amy L. Schneider

	By:	 	Amy L. Schneider
	Its:	 	Vice President, Corporate Secretary

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