Document:

Exhibit 10.1

 

AMENDMENT TO THE INVESTMENT MANAGEMENT TRUST
AGREEMENT

 

December 9, 2022

 

THIS AMENDMENT TO THE INVESTMENT MANAGEMENT TRUST AGREEMENT (this “Amendment”)
is made as of December 9, 2022, by and between VectoIQ Acquisition Corp. II, a Delaware corporation (the “Company”),
and Continental Stock Transfer & Trust Company, a New York limited purpose trust company (the “Trustee”). Capitalized
terms contained in this Amendment, but not specifically defined in this Amendment, shall have the meanings ascribed to such terms in that
certain Investment Management Trust Agreement, dated January 6, 2021, by and between the parties hereto (the “Trust Agreement”).

 

WHEREAS, a total of $345,000,000 was placed in the Trust Account from
the Offering and sale of private placement units;

 

WHEREAS, Section 1(i) of the Trust Agreement provides that the Trustee
shall commence liquidation of the Trust Account only after and promptly after (x) receipt of, and only in accordance with the terms of,
a Termination Letter; or (y) upon the date which is, the later of (1) 24 months after the closing of the Offering (or 27 months after
the closing of the Offering if the Company has executed a letter of intent, agreement in principle or definitive agreement for an initial
Business Combination within 24 months after the closing of the Offering) and (2) such later date as may be approved by the Company’s
stockholders in accordance with the Charter if a Termination Letter has not been received by the Trustee prior to such date;

 

WHEREAS, Section 6 of the
Trust Agreement provides that the Trust Agreement may only be amended by a writing signed by each of the Company and the Trustee with
the Consent of the Stockholders; and

 

WHEREAS, at a special meeting
of the stockholders of the Company held on or about the date hereof (the “Meeting”), at least sixty five percent (65%)
of all then outstanding shares of the Common Stock and the Company’s Class B common stock have voted to approve this Amendment;

 

WHEREAS, at the Meeting, the stockholders of the Company also voted
to approve an amendment of the Company’s amended and restated certificate of incorporation; and

 

WHEREAS, each of the Company and the Trustee
desires to amend the Trust Agreement as provided herein.

 

NOW, THEREFORE, in consideration of the mutual agreements contained
herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally
bound hereby, the parties hereto agree as follows:

 

1.             Amendment
to Trust Agreement.

 

Section 1(i) of the Trust Agreement is hereby amended
and restated in its entirety as follows:

 

“Commence liquidation of the Trust Account only after
and promptly after (x) receipt of, and only in accordance with the terms of, a letter from the Company (“Termination Letter”)
in a form substantially similar to that attached hereto as either Exhibit A or Exhibit B, as applicable, signed on behalf of the Company
by the Chief Executive Officer, Chief Financial Officer, President, Treasurer or Chairman of the board of directors of the Company (the
 “Board”) or other authorized officer of the Company, and, in the case of Exhibit A, acknowledged and agreed
to by the Representatives, and complete the liquidation of the Trust Account and distribute the Property in the Trust Account, including
interest not previously released to fund the Company’s working capital requirements (subject to a limit of $250,000 per year) and/or
to pay the Company’s taxes (which interest shall be net of taxes payable and less up to $100,000 of interest that may be released
to the Company to pay dissolution expenses), only as directed in the Termination Letter and the other documents referred to therein, or
(y) December 9, 2022 if a Termination Letter has not been received by the Trustee prior to such time and date, in which case the Trust
Account shall be liquidated in accordance with the procedures set forth in the Termination Letter attached as Exhibit B and the Property
in the Trust Account, including interest not previously released to fund the Company’s working capital requirements (subject to
a limit of $250,000 per year) and/or to pay the Company’s taxes (which interest shall be net of taxes payable and less up to
$100,000 of interest that may be released to the Company to pay dissolution expenses) shall be distributed to the Public Stockholders
of record as of such date”.

 

     

     

    

 

2.             Miscellaneous
Provisions.

 

2.1. Successors. All the covenants and provisions
of this Amendment by or for the benefit of the Company or the Trustee shall bind and inure to the benefit of their permitted respective
successors and assigns.

 

2.2. Severability. This Amendment shall be deemed
severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability of this
Amendment or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties
hereto intend that there shall be added as a part of this Amendment a provision as similar in terms to such invalid or unenforceable provision
as may be possible and be valid and enforceable.

 

2.3. Applicable Law. This Amendment shall be governed
by and construed and enforced in accordance with the laws of the State of New York.

 

2.4. Counterparts. This Amendment may be executed
in several original or facsimile counterparts, each of which shall constitute an original, and together shall constitute but one instrument.

 

2.5. Effect of Headings. The section headings herein
are for convenience only and are not part of this Amendment and shall not affect the interpretation thereof.

 

2.6. Entire Agreement. The Trust Agreement, as modified
by this Amendment, constitutes the entire understanding of the parties and supersedes all prior agreements, understandings, arrangements,
promises and commitments, whether written or oral, express or implied, relating to the subject matter hereof, and all such prior agreements,
understandings, arrangements, promises and commitments are hereby canceled and terminated.

 

[Signature Page to Follow]

 

     

     

    

 

IN WITNESS WHEREOF, the parties have duly
executed this Amendment as of the date first set forth above.

 

	 	VECTOIQ ACQUISITION CORP. II
	 	 	 
	 	By:	/s/ Stephen Girsky
	 	Name:	Stephen Girsky
	 	Title:	Chief Executive Officer
	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, AS TRUSTEE
	 	 	 
	 	By:	/s/ Francis Wolf
	 	Name:	Francis Wolf
	 	Title:	Vice PresidentExhibit 4.1

 

ONE HUNDRED FORTY-SIXTH SUPPLEMENTAL INDENTURE

 

Providing among other things for

 

FIRST MORTGAGE BONDS,

 

2022-1
Collateral Series (Interest Bearing)

 

Dated
as of December 14, 2022

 

 

 

CONSUMERS ENERGY COMPANY

 

TO

 

THE BANK OF NEW YORK MELLON,

 

TRUSTEE

 

Counterpart _____ of 80

 

    

     

    

 

THIS ONE HUNDRED FORTY-SIXTH
SUPPLEMENTAL INDENTURE, dated as of December 14, 2022 (herein sometimes referred to as “this Supplemental Indenture”),
made and entered into by and between CONSUMERS ENERGY COMPANY, a corporation organized and existing under the laws of the State of Michigan,
with its principal executive office and place of business at One Energy Plaza, in Jackson, Jackson County, Michigan 49201, formerly known
as Consumers Power Company (hereinafter sometimes referred to as the “Company”), and THE BANK OF NEW YORK MELLON (formerly
known as The Bank of New York), a New York banking corporation, with its corporate trust offices at 240 Greenwich Street, New York, New
York 10286 (hereinafter sometimes referred to as the “Trustee”), as Trustee under the Indenture dated as of September 1,
1945 between Consumers Power Company, a Maine corporation (hereinafter sometimes referred to as the “Maine corporation”),
and City Bank Farmers Trust Company (Citibank, N.A., successor, hereinafter sometimes referred to as the “Predecessor Trustee”),
securing bonds issued and to be issued as provided therein (hereinafter sometimes referred to as the “Indenture”),

 

WHEREAS, at the close of business
on January 30, 1959, City Bank Farmers Trust Company was converted into a national banking association under the title “First
National City Trust Company”; and

 

WHEREAS, at the close of business
on January 15, 1963, First National City Trust Company was merged into First National City Bank; and

 

WHEREAS, at the close of business
on October 31, 1968, First National City Bank was merged into The City Bank of New York, National Association, the name of which
was thereupon changed to First National City Bank; and

 

WHEREAS, effective March 1,
1976, the name of First National City Bank was changed to Citibank, N.A.; and

 

WHEREAS, effective July 16,
1984, Manufacturers Hanover Trust Company succeeded Citibank, N.A. as Trustee under the Indenture; and

 

WHEREAS, effective June 19,
1992, Chemical Bank succeeded by merger to Manufacturers Hanover Trust Company as Trustee under the Indenture; and

 

WHEREAS, effective July 15,
1996, The Chase Manhattan Bank (National Association) merged with and into Chemical Bank which thereafter was renamed The Chase Manhattan
Bank; and

 

WHEREAS, effective November 11,
2001, The Chase Manhattan Bank merged with Morgan Guaranty Trust Company of New York and the surviving corporation was renamed JPMorgan
Chase Bank; and

 

WHEREAS, effective November 13,
2004, the name of JPMorgan Chase Bank was changed to JPMorgan Chase Bank, N.A.; and

 

    1

     

    

 

WHEREAS, effective April 7,
2006, The Bank of New York succeeded JPMorgan Chase Bank, N.A. as Trustee under the Indenture; and

 

WHEREAS, effective July 1,
2008, the name of The Bank of New York was changed to The Bank of New York Mellon; and

 

WHEREAS, the Indenture was executed
and delivered for the purpose of securing such 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 limited to $16,000,000,000 at any one time outstanding
(except as provided in Section 2.01 of the Indenture), and the Indenture describes and sets forth the property conveyed thereby and
is filed in the Office of the Secretary of State of the State of Michigan and is of record in the Office of the Register of Deeds of each
county in the State of Michigan in which this Supplemental Indenture is to be recorded; and

 

WHEREAS, the Indenture has been
supplemented and amended by various indentures supplemental thereto, each of which is filed in the Office of the Secretary of State of
the State of Michigan and is of record in the Office of the Register of Deeds of each county in the State of Michigan in which this Supplemental
Indenture is to be recorded; and

 

WHEREAS, the Company and the
Maine corporation entered into an Agreement of Merger and Consolidation, dated as of February 14, 1968, which provided for the Maine
corporation to merge into the Company; and

 

WHEREAS, the effective date
of such Agreement of Merger and Consolidation was June 6, 1968, upon which date the Maine corporation was merged into the Company
and the name of the Company was changed from “Consumers Power Company of Michigan” to “Consumers Power Company”;
and

 

WHEREAS, the Company and the
Predecessor Trustee entered into a Sixteenth Supplemental Indenture, dated as of June 4, 1968, which provided, among other things,
for the assumption of the Indenture by the Company; and

 

WHEREAS, said Sixteenth Supplemental
Indenture became effective on the effective date of such Agreement of Merger and Consolidation; and

 

WHEREAS, the Company has succeeded
to and has been substituted for the Maine corporation under the Indenture with the same effect as if it had been named therein as the
mortgagor corporation; and

 

WHEREAS, effective March 11,
1997, the name of Consumers Power Company was changed to Consumers Energy Company; and

 

WHEREAS, the Company has entered
into a Sixth Amended and Restated Revolving Credit Agreement dated as of December 14, 2022 (as amended, amended and restated, supplemented
or otherwise modified from time to time, the “Credit Agreement”) with various financial institutions and JPMorgan Chase
Bank, N.A., as agent (in such capacity, the “Agent”) for the Banks (as such term is defined in the Credit Agreement),
providing for the making of certain financial accommodations thereunder, and pursuant to such Credit Agreement the Company has agreed
to issue to the Agent, as evidence of and security for the Obligations (as such term is defined in the Credit Agreement), a new series
of bonds under the Indenture; and

 

    

     

    

 

WHEREAS, for such purposes
the Company desires to issue a new series of bonds, to be designated First Mortgage Bonds, 2022-1 Collateral Series (Interest Bearing),
each of which bonds shall also bear the descriptive title “First Mortgage Bond” (hereinafter provided for and hereinafter
sometimes referred to as the “2022-1 Collateral Bonds”), the bonds of which series are to be issued as registered
bonds without coupons and are to bear interest at the rate per annum specified herein and are to mature on the Termination Date (as such
term is defined in the Credit Agreement); and

 

WHEREAS, each of the registered
bonds without coupons of the 2022-1Collateral Bonds and the Trustee’s Authentication Certificate thereon are to be substantially
in the following form, to wit:

 

[FORM OF
REGISTERED BOND

 

OF
THE 2022-1 COLLATERAL BONDS]

 

[FACE]

CONSUMERS ENERGY COMPANY

FIRST MORTGAGE BOND

2022-1 COLLATERAL SERIES (INTEREST BEARING)

 

	No. 1	 	$250,000,000                   

 

CONSUMERS ENERGY COMPANY,
a Michigan corporation (hereinafter called the “Company”), for value received, hereby promises to pay to JPMorgan Chase
Bank, N.A, as agent (in such capacity, the “Agent”) for the Banks under and as defined in the Sixth Amended and Restated
Revolving Credit Agreement, dated as of December 14, 2022 among the Company, the Banks named therein and from time to time party
thereto (the “Banks”), JPMorgan Chase Bank, N.A., as an LC Issuer (as defined therein), and the Agent (as amended, amended
and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), or registered assigns,
on the Maturity Date (defined below) the principal sum of Two Hundred Fifty Million Dollars ($250,000,000) or such lesser principal amount
as shall be equal to the aggregate principal amount of the Loans (as defined in the Credit Agreement) and Reimbursement Obligations (as
defined in the Credit Agreement) included in the Obligations (as defined in the Credit Agreement) outstanding on the Termination Date
(as defined in the Credit Agreement) (the “Maturity Date”), but not in excess, however, of the principal amount of
this bond, and to pay interest thereon at the Interest Rate (as defined below) until the principal hereof is paid or duly made available
for payment on the Maturity Date, or, in the event of redemption of this bond, until the redemption date, or, in the event of default
in the payment of the principal hereof, until the Company’s obligations with respect to the payment of such principal shall be discharged
as provided in the Indenture (as defined on the reverse hereof). Interest on this bond shall be payable on each Interest Payment Date
(as defined below), commencing on the first Interest Payment Date next succeeding December 14, 2022. If the Maturity Date falls on
a day which is not a Business Day, as defined below, principal and any interest and/or fees payable with respect to the Maturity Date
will be paid on the immediately preceding Business Day. The interest payable, and punctually paid or duly provided for, on any Interest
Payment Date will, subject to certain exceptions, be paid to the person in whose name this bond (or one or more predecessor bonds) is
registered at the close of business on the Record Date (as defined below); provided, however, that interest payable on the Maturity
Date will be payable to the person to whom the principal hereof shall be payable. Should the Company default in the payment of interest
(“Defaulted Interest”), the Defaulted Interest shall be paid to the person in whose name this bond (or one or more
predecessor bonds) is registered on a subsequent record date fixed by the Company, which subsequent record date shall be fifteen (15)
days prior to the payment of such Defaulted Interest. As used herein, (A) “Business Day” shall mean any day, other
than a Saturday or Sunday, on which banks generally are open in New York, New York for the conduct of substantially all of their commercial
lending activities and on which interbank wire transfers can be made on the Fedwire system; (B) “Interest Payment Date”
shall mean each date on which Obligations constituting interest and/or fees are due and payable from time to time pursuant to the Credit
Agreement; (C) “Interest Rate” shall mean a rate of interest per annum, adjusted as necessary, to result in an
interest payment equal to the aggregate amount of Obligations constituting interest and fees due under the Credit Agreement on the applicable
Interest Payment Date; and (D) “Record Date” with respect to any Interest Payment Date shall mean the day (whether
or not a Business Day) immediately next preceding such Interest Payment Date.

 

    

     

    

 

Payment of the principal of
and interest on this bond will be made in immediately available funds at the office or agency of the Company maintained for that purpose
in the City of Jackson, Michigan, in such coin or currency of the United States of America as at the time of payment is legal tender for
payment of public and private debts.

 

The provisions of this bond
are continued below 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 (as defined below)
or its successor in trust under the Indenture (as defined below) of the certificate hereon.

 

    

     

    

 

IN WITNESS WHEREOF, Consumers
Energy Company has caused this bond to be executed in its name by its Chairman of the Board, 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 Secretary or one of its Assistant Secretaries by his or her signature or a facsimile thereof.

 

	 	 	CONSUMERS ENERGY COMPANY
	 	 	 
	Dated:	 	 	 
	 	 	 	 
	 	 	 	By:	 
	 	 	 	Printed:	        
	 	 	 	Title:	 
	 	 	 	 	 
	Attest:	 	 	 	 

 

 

TRUSTEE’S AUTHENTICATION
CERTIFICATE

 

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

 

	 	THE BANK OF NEW YORK MELLON,
	 	Trustee
	 	 
	 	By:	 
	 	 	Authorized Officer

 

CONSUMERS ENERGY COMPANY

 

FIRST MORTGAGE BOND 2022-1 COLLATERAL SERIES
(INTEREST BEARING)

 

This bond is one of the bonds
of a series designated as First Mortgage Bonds, 2022-1 Collateral Series (Interest Bearing) (sometimes herein referred to as the
 “2022-1 Collateral Bonds”) issued under and in accordance with and secured by an Indenture dated as of September 1,
1945, given by the Company (or its predecessor, Consumers Power Company, a Maine corporation) to City Bank Farmers Trust Company (The
Bank of New York Mellon, successor) (hereinafter sometimes referred to as the “Trustee”), together with indentures supplemental
thereto, heretofore or hereafter executed, 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 said bonds 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 and in other respects
as provided in the Indenture.

 

    

     

    

 

The 2022-1 Collateral Bonds
are to be issued and delivered to the Agent in order to evidence and secure the obligation of the Company under the Credit Agreement to
make payments to the Banks under the Credit Agreement and to provide the Banks the benefit of the lien of the Indenture with respect to
the 2022-1 Collateral Bonds.

 

The obligation of the Company
to make payments with respect to the principal of 2022-1 Collateral Bonds shall be fully or partially, as the case may be, satisfied and
discharged to the extent that, at the time that any such payment shall be due, the then due principal of the Loans and/or the Reimbursement
Obligations included in the Obligations shall have been fully or partially paid. Satisfaction of any obligation to the extent that payment
is made with respect to the Loans and/or the Reimbursement Obligations means that if any payment is made on the principal of the Loans
and/or the Reimbursement Obligations, a corresponding payment obligation with respect to the principal of the 2022-1 Collateral Bonds
shall be deemed discharged in the same amount as the payment with respect to the Loans and/or the Reimbursement Obligations discharges
the outstanding obligation with respect to such Loans and/or Reimbursement Obligations. No such payment of principal shall reduce the
principal amount of the 2022-1 Collateral Bonds.

 

The obligation of the Company
to make payments with respect to the interest on 2022-1 Collateral Bonds shall be fully or partially, as the case may be, satisfied and
discharged to the extent that, at the time that any such payment shall be due, the then due interest and/or fees under the Credit Agreement
shall have been fully or partially paid. Satisfaction of any obligation to the extent that payment is made with respect to the interest
and/or fees under the Credit Agreement means that if any payment is made on the interest and/or fees under the Credit Agreement, a corresponding
payment obligation with respect to the interest on the 2022-1 Collateral Bonds shall be deemed discharged in the same amount as the payment
with respect to the interest and/or fees under the Credit Agreement discharges the outstanding obligation under the Credit Agreement with
respect to such interest and/or fees.

 

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 interest on
this bond, so far as such payments at the time have become due, has been fully satisfied and discharged unless and until the Trustee shall
have received a written notice from the Agent stating (i) that timely payment of principal and interest on the 2022-1 Collateral
Bonds has not been made, (ii) that the Company is in arrears as to the payments required to be made by it to the Agent in connection
with the Obligations pursuant to the Credit Agreement, and (iii) the amount of the arrearage.

 

If an Event of Default (as
defined in the Credit Agreement) with respect to the payment of the principal of the Loans and/or the Reimbursement Obligations shall
have occurred, it shall be deemed to be a default for purposes of Section 11.01 of the Indenture in the payment of the principal
of the 2022-1 Collateral Bonds equal to the amount of such unpaid principal or Reimbursement Obligations (but in no event in excess of
the principal amount of the 2022-1 Collateral Bonds). If an Event of Default (as defined in the Credit Agreement) with respect to the
payment of interest on the Loans and/or the Reimbursement Obligations or any fees shall have occurred, it shall be deemed to be a default
for purposes of Section 11.01 of the Indenture in the payment of the interest on the 2022-1 Collateral Bonds equal to the amount
of such unpaid interest or fees.

 

    

     

    

 

This bond is not redeemable
except upon written demand of the Agent following the occurrence of an Event of Default under the Credit Agreement and the acceleration
of the Obligations, as provided in Section 9.2 of the Credit Agreement. This bond is not redeemable by the operation of the improvement
fund or the maintenance and replacement provisions of the Indenture or with the proceeds of released property or in any other manner except
as set forth above.

 

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. The holders of certain specified percentages of the bonds at the time outstanding,
including in certain cases specified percentages of bonds of particular series, may in certain cases, to the extent and as provided in
the Indenture, waive certain defaults thereunder and the consequences of such defaults.

 

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 (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 the holders of which are required to approve any such supplemental indenture.

 

The Company reserves the right,
without any consent, vote or other action by holders of the 2022-1 Collateral Bonds or any other series created after the Sixty-eighth
Supplemental Indenture, to amend the Indenture to reduce the percentage of the principal amount of bonds the holders of which are required
to approve any supplemental indenture (other than any supplemental indenture which is subject to the proviso contained in the immediately
preceding sentence) (a) from not less than seventy-five per centum (including sixty per centum of each series affected) to not less
than a majority in principal amount of the bonds at the time outstanding or (b) in case fewer than all series are affected, not less
than a majority in principal amount of the bonds of all affected series, voting together.

 

No recourse shall be had for
the payment of the principal of or premium, if any, 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.

 

    

     

    

 

This bond shall be exchangeable
for other registered bonds of the same series, in the manner and upon the conditions prescribed in the Indenture, upon the surrender of
such bonds at the Investor Services Department of the Company, as transfer agent. However, notwithstanding the provisions of Section 2.05
of the Indenture, no charge shall be made upon any registration of transfer or exchange of bonds of said series other than for any tax
or taxes or other governmental charge required to be paid by the Company.

 

The Agent shall surrender
this bond to the Trustee when all of the principal of and interest on the Loans and Reimbursement Obligations arising under the Credit
Agreement, and all of the fees payable pursuant to the Credit Agreement with respect to the Obligations, shall have been duly paid, no
Facility LC (as defined in the Credit Agreement) shall be outstanding, and the Credit Agreement (including, without limitation, all Commitments
thereunder) shall have been terminated.

 

[END OF FORM OF REGISTERED BOND

 

OF THE 2022-1 COLLATERAL BONDS]

 

AND WHEREAS all acts and things
necessary to make the 2022-1 Collateral Bonds (the “Collateral Bonds”), when duly executed by the Company and authenticated
by the Trustee or its agent and issued as prescribed in the Indenture, as heretofore supplemented and amended, and this Supplemental Indenture,
the valid, binding and legal obligations of the Company, and to constitute the Indenture, as supplemented and amended as aforesaid, as
well as by this Supplemental Indenture, a valid, binding and legal instrument for the security thereof, have been done and performed,
and the creation, execution and delivery of this Supplemental Indenture and the creation, execution and issuance of bonds subject to the
terms hereof and of the Indenture, as so supplemented and amended, have in all respects been duly authorized;

 

NOW, THEREFORE, in consideration
of the premises, of the acceptance and purchase by the holders thereof of the bonds issued and to be issued under the Indenture, as supplemented
and amended as above set forth, and of the sum of One Dollar duly paid by the Trustee to the Company, and of other good and valuable considerations,
the receipt whereof 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 $250,000,000 principal amount of the Collateral Bonds and
all other bonds which shall be issued under the Indenture, as supplemented and amended from time to time, and for the purpose of securing
the faithful performance and observance of all covenants and conditions therein, and in any indenture supplemental thereto, set forth,
the Company has given, granted, bargained, sold, released, transferred, assigned, hypothecated, pledged, mortgaged, confirmed, set over,
warranted, alienated and conveyed and by these presents does give, grant, bargain, sell, release, transfer, assign, hypothecate, pledge,
mortgage, confirm, set over, warrant, alienate and convey unto The Bank of New York Mellon, 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 all the property, described in Section 11 hereof, together (subject to the provisions of Article X
of the Indenture) with the tolls, rents, revenues, issues, earnings, income, products and profits thereof, excepting, however, the property,
interests and rights specifically excepted from the lien of the Indenture as set forth in the Indenture;

 

    

     

    

 

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 foregoing granting clause, 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 the aforesaid premises, property, franchises and rights and every part and parcel thereof;

 

SUBJECT, HOWEVER, with respect
to such premises, property, franchises and rights, to excepted encumbrances as said term is defined in Section 1.02 of the Indenture,
and subject also to all defects and limitations of title and to all encumbrances existing at the time of acquisition.

 

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;

 

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 and secured by the Indenture and interest coupons appurtenant thereto, pursuant to the provisions of the Indenture and
of any supplemental indenture, 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 and of any supplemental 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 thereof, be equally and proportionately secured, as if
it had been made, executed, authenticated, delivered, sold and negotiated simultaneously with the execution and delivery thereof;

 

AND IT IS EXPRESSLY DECLARED
by the Company that all bonds authenticated and delivered under and secured by the Indenture, as supplemented and amended as above set
forth, are to be issued, authenticated and delivered, and all said premises, property, franchises and rights hereby and by the Indenture
and indentures supplemental thereto conveyed, assigned, pledged or mortgaged, or intended so to be, are to be dealt with and disposed
of under, upon and subject to the terms, conditions, stipulations, covenants, agreements, trusts, uses and purposes expressed in the Indenture,
as supplemented and amended as above set forth, and the parties hereto mutually agree as follows:

 

    

     

    

 

SECTION 1. There is
hereby created a series of bonds (the “2022-1 Collateral Bonds”) designated as hereinabove provided, which shall also
bear the descriptive title “First Mortgage Bond”, and the forms thereof shall be substantially as hereinbefore set forth(collectively,
the “Sample Bond”). The 2022-1 Collateral Bonds shall be issued in the aggregate principal amount of $250,000,000,
shall mature on the Termination Date (as such term is defined in the Credit Agreement) and shall be issued only as registered bonds without
coupons in denominations of $1,000 and any multiple thereof. The serial numbers of the Collateral Bonds shall be such as may be approved
by any officer of the Company, the execution thereof by any such officer either manually or by facsimile signature to be conclusive evidence
of such approval. The Collateral Bonds are to be issued to and registered in the name of the Agent under the Credit Agreement (as such
terms are defined in the Sample Bonds) to evidence and secure any and all Obligations (as such term is defined in the Credit Agreement)
of the Company under the Credit Agreement.

 

The 2022-1 Collateral Bonds
shall bear interest as set forth in the Sample Bond. The principal of and the interest on said bonds shall be payable as set forth in
the Sample Bond.

 

The obligation of the Company
to make payments with respect to the principal of 2022-1 Collateral Bonds shall be fully or partially, as the case may be, satisfied and
discharged to the extent that, at the time that any such payment shall be due, the then due principal of the Loans and/or the Reimbursement
Obligations included in the Obligations shall have been fully or partially paid. Satisfaction of any obligation to the extent that payment
is made with respect to the Loans and/or the Reimbursement Obligations means that if any payment is made on the principal of the Loans
and/or the Reimbursement Obligations, a corresponding payment obligation with respect to the principal of the 2022-1 Collateral Bonds
shall be deemed discharged in the same amount as the payment with respect to the Loans and/or the Reimbursement Obligations discharges
the outstanding obligation with respect to such Loans and/or Reimbursement Obligations. No such payment of principal shall reduce the
principal amount of the 2022-1 Collateral Bonds.

 

The obligation of the Company
to make payments with respect to interest on 2022-1 Collateral Bonds shall be fully or partially, as the case may be, satisfied and discharged
to the extent that, at the time that any such payment shall be due, the then due interest and/or fees under the Credit Agreement shall
have been fully or partially paid. Satisfaction of any obligation to the extent that payment is made with respect to the interest and/or
fees under the Credit Agreement means that if any payment is made on the interest and/or fees under the Credit Agreement, a corresponding
payment obligation with respect to the interest on the 2022-1 Collateral Bonds shall be deemed discharged in the same amount as the payment
with respect to the interest and/or fees under the Credit Agreement discharges the outstanding obligation under the Credit Agreement with
respect to such interest and/or fees.

 

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 interest on
the Collateral Bonds, so far as such payments at the time have become due, has been fully satisfied and discharged unless and until the
Trustee shall have received a written notice from the Agent stating (i) that timely payment of principal and interest on the 2022-1
Collateral Bonds has not been made, (ii) that the Company is in arrears as to the payments required to be made by it to the Agent
pursuant to the Credit Agreement, and (iii) the amount of the arrearage.

 

    

     

    

 

The Collateral Bonds shall
be exchangeable for other registered bonds of the same series, in the manner and upon the conditions prescribed in the Indenture, upon
the surrender of such bonds at the Investor Services Department of the Company, as transfer agent. However, notwithstanding the provisions
of Section 2.05 of the Indenture, no charge shall be made upon any registration of transfer or exchange of bonds of said series other
than for any tax or taxes or other governmental charge required to be paid by the Company.

 

SECTION 2.
The Collateral Bonds are not redeemable by the operation of the maintenance and replacement provisions of this Indenture or with
the proceeds of released property.

 

SECTION 3. Upon the occurrence
of an Event of Default under the Credit Agreement and the acceleration of the Obligations, the Collateral Bonds shall be redeemable in
whole upon receipt by the Trustee of a written demand from the Agent stating that there has occurred under the Credit Agreement both an
Event of Default and a declaration of acceleration of the Obligations and demanding redemption of the Collateral Bonds (including a description
of the amount of principal, interest and fees which comprise such Obligations). The Company waives any right it may have to prior notice
of such redemption under the Indenture. Upon surrender of the Collateral Bonds by the Agent to the Trustee, the Collateral Bonds shall
be redeemed at a redemption price equal to the aggregate amount of the Obligations subject to the receipt by the Trustee of the redemption
price from the Company.

 

SECTION 4. The Company
reserves the right, without any consent, vote or other action by the holder of the Collateral Bonds or of any subsequent series of bonds
issued under the Indenture, to make such amendments to the Indenture, as supplemented, as shall be necessary in order to amend Section 17.02
to read as follows:

 

SECTION 17.02. With the consent of
the holders of not less than a majority in principal amount of the bonds at the time outstanding or their attorneys-in-fact duly authorized,
or, if fewer than all series are affected, not less than a majority in principal amount of the bonds at the time outstanding of each series
the rights of the holders of which are affected, voting together, the Company, when authorized by a resolution, and the Trustee may from
time to time and at any time enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or modifying the rights
and obligations of the Company and the rights of the holders of any of the bonds and coupons; provided, however, that no such supplemental
indenture shall (1) extend the maturity of any of the bonds or reduce the rate or extend the time of payment of interest thereon,
or reduce the amount of the principal thereof, or reduce any premium payable on the redemption thereof, without the consent of the holder
of each bond so affected, or (2) permit the creation of any lien, not otherwise permitted, prior to or on a parity with the lien
of this Indenture, without the consent of the holders of all the bonds then outstanding, or (3) reduce the aforesaid percentage of
the principal amount of bonds the holders of which are required to approve any such supplemental indenture, without the consent of the
holders of all the bonds then outstanding. For the purposes of this Section, bonds shall be deemed to be affected by a supplemental indenture
if such supplemental indenture adversely affects or diminishes the rights of holders thereof against the Company or against its property.
The Trustee may in its discretion determine whether or not, in accordance with the foregoing, bonds of any particular series would be
affected by any supplemental indenture and any such determination shall be conclusive upon the holders of bonds of such series and all
other series. Subject to the provisions of Sections 16.02 and 16.03 hereof, the Trustee shall not be liable for any determination made
in good faith in connection herewith.

 

    

     

    

 

Upon the written request
of the Company, accompanied by a resolution authorizing the execution of any such supplemental indenture, and upon the filing with the
Trustee of evidence of the consent of bondholders as aforesaid (the instrument or instruments evidencing such consent to be dated within
one year of such request), the Trustee shall join with the Company in the execution of such supplemental indenture unless such supplemental
indenture affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may
in its discretion but shall not be obligated to enter into such supplemental indenture.

 

It shall not be necessary
for the consent of the bondholders under this Section to approve the particular form of any proposed supplemental indenture, but
it shall be sufficient if such consent shall approve the substance thereof.

 

The Company and the
Trustee, if they so elect, and either before or after such consent has been obtained, may require the holder of any bond consenting to
the execution of any such supplemental indenture to submit his bond to the Trustee or to ask such bank, banker or trust company as may
be designated by the Trustee for the purpose, for the notation thereon of the fact that the holder of such bond has consented to the execution
of such supplemental indenture, and in such case such notation, in form satisfactory to the Trustee, shall be made upon all bonds so submitted,
and such bonds bearing such notation shall forthwith be returned to the persons entitled thereto.

 

Prior to the execution
by the Company and the Trustee of any supplemental indenture pursuant to the provisions of this Section, the Company shall publish a notice,
setting forth in general terms the substance of such supplemental indenture, at least once in one daily newspaper of general circulation
in each city in which the principal of any of the bonds shall be payable, or, if all bonds outstanding shall be registered bonds without
coupons or coupon bonds registered as to principal, such notice shall be sufficiently given if mailed, first class, postage prepaid, and
registered if the Company so elects, to each registered holder of bonds at the last address of such holder appearing on the registry books,
such publication or mailing, as the case may be, to be made not less than thirty days prior to such execution. Any failure of the Company
to give such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture.

 

    

     

    

 

SECTION 5. As supplemented
and amended as above set forth, the Indenture is in all respects ratified and confirmed, and the Indenture and all indentures supplemental
thereto shall be read, taken and construed as one and the same instrument.

 

SECTION 6. Nothing contained
in this Supplemental Indenture shall, or shall be construed to, confer upon any person other than a holder of bonds issued under the Indenture,
as supplemented and amended as above set forth, the Company, the Trustee and the Agent, for the benefit of the Banks (as such term is
defined in the Credit Agreement), any right or interest to avail himself of any benefit under any provision of the Indenture, as so supplemented
and amended.

 

SECTION 7. The Trustee
assumes no responsibility for or in respect of the validity or sufficiency of this Supplemental Indenture or of the Indenture as hereby
supplemented or the due execution hereof by the Company or for or in respect of the recitals and statements contained herein (other than
those contained in the tenth and eleventh recitals hereof), all of which recitals and statements are made solely by the Company.

 

The Trustee shall have the right
to accept and act upon instructions, including funds transfer instructions (“Instructions”) given pursuant to this Supplemental
Indenture and delivered using Electronic Means; provided, however, that the Company shall provide to the Trustee an incumbency certificate
listing officers with the authority to provide such Instructions (“Authorized Officers”) and containing specimen signatures
of such Authorized Officers, which incumbency certificate shall be amended by the Company whenever a person is to be added or deleted
from the listing.  If the Company elects to give the Trustee Instructions using Electronic Means and the Trustee in its reasonable
discretion elects to act upon such Instructions, the Trustee’s understanding of such Instructions shall be deemed controlling in
the absence of negligence or willful misconduct.  The Company understands and agrees that the Trustee cannot determine the identity
of the actual sender of such Instructions and that the Trustee shall conclusively presume that directions that purport to have been sent
by an Authorized Officer listed on the incumbency certificate provided to the Trustee have been sent by such Authorized Officer. 
The Company shall be responsible for ensuring that only Authorized Officers transmit such Instructions to the Trustee and that the Company
and all Authorized Officers are solely responsible to safeguard the use and confidentiality of applicable user and authorization codes,
passwords and/or authentication keys upon receipt by the Company.  In the absence of negligence or willful misconduct, the Trustee
shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance
with such Instructions notwithstanding such directions conflict or are inconsistent with a subsequent written instruction.  The Company
agrees: (i) to assume all risks arising out of the use of Electronic Means to submit Instructions to the Trustee, including without
limitation the risk of the Trustee acting on unauthorized Instructions, and the risk of interception and misuse by third parties; (ii) that
it is fully informed of the protections and risks associated with the various methods of transmitting Instructions to the Trustee and
that there may be more secure methods of transmitting Instructions than the method(s) selected by the Company; (iii) that the
security procedures (if any) to be followed in connection with its transmission of Instructions provide to it a commercially reasonable
degree of protection in light of its particular needs and circumstances; and (iv) to notify the Trustee immediately upon learning
of any compromise or unauthorized use of the security procedures.

 

    

     

    

 

"Electronic Means"
shall mean the following communications methods: e-mail, facsimile transmission, secure electronic transmission containing applicable
authorization codes, passwords and/or authentication keys issued by the Trustee, or another method or system specified by the Trustee
as available for use in connection with its services hereunder.

 

SECTION 8. This Supplemental
Indenture may 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.

 

SECTION 9. In the event
the date of any notice required or permitted hereunder shall not be a Business Day, then (notwithstanding any other provision of the Indenture
or of any supplemental indenture thereto) such notice 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 the date fixed for such notice. “Business Day” means, with respect to this Section 9,
any day, other than a Saturday or Sunday, on which banks generally are open in New York, New York for the conduct of substantially all
of their commercial lending activities and on which interbank wire transfers can be made on the Fedwire system.

 

SECTION 10. This
Supplemental Indenture and the Collateral Bonds shall be governed by and deemed to be a contract under, and construed in accordance
with, the laws of the State of Michigan, and for all purposes shall be construed in accordance with the laws of such state, except
as may otherwise be required by mandatory provisions of law.

 

SECTION 11. Detailed
Description of Property Mortgaged:

 

I.

 

ELECTRIC GENERATING PLANTS AND DAMS

 

All the electric generating
plants and stations of the Company, constructed or otherwise acquired by it and not heretofore described in the Indenture or any supplement
thereto and not heretofore released from the lien of the Indenture, including all powerhouses, buildings, reservoirs, dams, pipelines,
flumes, structures and works and the land on which the same are situated and all water rights and all other lands and easements, rights
of way, permits, privileges, towers, poles, wires, machinery, equipment, appliances, appurtenances and supplies and all other property,
real or personal, forming a part of or appertaining to or used, occupied or enjoyed in connection with such plants and stations or any
of them, or adjacent thereto.

 

    

     

    

 

II.

 

ELECTRIC TRANSMISSION LINES

 

All the electric transmission
lines of the Company, constructed or otherwise acquired by it and not heretofore described in the Indenture or any supplement thereto
and not heretofore released from the lien of the Indenture, including towers, poles, pole lines, wires, switches, switch racks, switchboards,
insulators and other appliances and equipment, and all other property, real or personal, forming a part of or appertaining to or used,
occupied or enjoyed in connection with such transmission lines or any of them or adjacent thereto; together with all real property, rights
of way, easements, permits, privileges, franchises and rights for or relating to the construction, maintenance or operation thereof, through,
over, under or upon any private property or any public streets or highways, within as well as without the corporate limits of any municipal
corporation. Also all the real property, rights of way, easements, permits, privileges and rights for or relating to the construction,
maintenance or operation of certain transmission lines, the land and rights for which are owned by the Company, which are either not built
or now being constructed.

 

III.

 

ELECTRIC DISTRIBUTION SYSTEMS

 

All the electric distribution
systems of the Company, constructed or otherwise acquired by it and not heretofore described in the Indenture or any supplement thereto
and not heretofore released from the lien of the Indenture, including substations, transformers, switchboards, towers, poles, wires, insulators,
subways, trenches, conduits, manholes, cables, meters and other appliances and equipment, and all other property, real or personal, forming
a part of or appertaining to or used, occupied or enjoyed in connection with such distribution systems or any of them or adjacent thereto;
together with all real property, rights of way, easements, permits, privileges, franchises, grants and rights, for or relating to the
construction, maintenance or operation thereof, through, over, under or upon any private property or any public streets or highways within
as well as without the corporate limits of any municipal corporation.

 

IV.

 

ELECTRIC SUBSTATIONS, SWITCHING STATIONS AND SITES

 

All the substations, switching
stations and sites of the Company, constructed or otherwise acquired by it and not heretofore described in the Indenture or any supplement
thereto and not heretofore released from the lien of the Indenture, for transforming, regulating, converting or distributing or otherwise
controlling electric current at any of its plants and elsewhere, together with all buildings, transformers, wires, insulators and other
appliances and equipment, and all other property, real or personal, forming a part of or appertaining to or used, occupied or enjoyed
in connection with any of such substations and switching stations, or adjacent thereto, with sites to be used for such purposes.

 

    

     

    

 

V.

 

GAS COMPRESSOR STATIONS, GAS PROCESSING PLANTS,

DESULPHURIZATION STATIONS, METERING STATIONS, ODORIZING STATIONS, REGULATORS AND SITES

 

All the compressor stations,
processing plants, desulphurization stations, metering stations, odorizing stations, regulators and sites of the Company, constructed
or otherwise acquired by it and not heretofore described in the Indenture or any supplement thereto and not heretofore released from the
lien of the Indenture, for compressing, processing, desulphurizing, metering, odorizing and regulating manufactured or natural gas at
any of its plants and elsewhere, together with all buildings, meters and other appliances and equipment, and all other property, real
or personal, forming a part of or appertaining to or used, occupied or enjoyed in connection with any of such purposes, with sites to
be used for such purposes.

 

VI.

 

GAS STORAGE FIELDS

 

The natural gas rights and interests
of the Company, including wells and well lines (but not including natural gas, oil and minerals), the gas gathering system, the underground
gas storage rights, the underground gas storage wells and injection and withdrawal system used in connection therewith, constructed or
otherwise acquired by it and not heretofore described in the Indenture or any supplement thereto and not heretofore released from the
lien of the Indenture: In the Overisel Gas Storage Field, located in the Township of Overisel, Allegan County, and in the Township of
Zeeland, Ottawa County, Michigan; in the Northville Gas Storage Field located in the Township of Salem, Washtenaw County, Township of
Lyon, Oakland County, and the Townships of Northville and Plymouth and City of Plymouth, Wayne County, Michigan; in the Salem Gas Storage
Field, located in the Township of Salem, Allegan County, and in the Township of Jamestown, Ottawa County, Michigan; in the Ray Gas Storage
Field, located in the Townships of Ray and Armada, Macomb County, Michigan; in the Lenox Gas Storage Field, located in the Townships of
Lenox and Chesterfield, Macomb County, Michigan; in the Ira Gas Storage Field, located in the Township of Ira, St. Clair County, Michigan;
in the Puttygut Gas Storage Field, located in the Township of Casco, St. Clair County, Michigan; in the Four Corners Gas Storage Field,
located in the Townships of Casco, China, Cottrellville and Ira, St. Clair County, Michigan; in the Swan Creek Gas Storage Field, located
in the Townships of Casco and Ira, St. Clair County, Michigan; and in the Hessen Gas Storage Field, located in the Townships of Casco
and Columbus, St. Clair County, Michigan.

 

VII.

 

GAS TRANSMISSION LINES

 

All the gas transmission lines
of the Company, constructed or otherwise acquired by it and not heretofore described in the Indenture or any supplement thereto and not
heretofore released from the lien of the Indenture, including gas mains, pipes, pipelines, gates, valves, meters and other appliances
and equipment, and all other property, real or personal, forming a part of or appertaining to or used, occupied or enjoyed in connection
with such transmission lines or any of them or adjacent thereto; together with all real property, right of way, easements, permits, privileges,
franchises and rights for or relating to the construction, maintenance or operation thereof, through, over, under or upon any private
property or any public streets or highways, within as well as without the corporate limits of any municipal corporation.

 

    

     

    

 

VIII.

 

GAS DISTRIBUTION SYSTEMS

 

All the gas distribution systems
of the Company, constructed or otherwise acquired by it and not heretofore described in the Indenture or any supplement thereto and not
heretofore released from the lien of the Indenture, including tunnels, conduits, gas mains and pipes, service pipes, fittings, gates,
valves, connections, meters and other appliances and equipment, and all other property, real or personal, forming a part of or appertaining
to or used, occupied or enjoyed in connection with such distribution systems or any of them or adjacent thereto; together with all real
property, rights of way, easements, permits, privileges, franchises, grants and rights, for or relating to the construction, maintenance
or operation thereof, through, over, under or upon any private property or any public streets or highways within as well as without the
corporate limits of any municipal corporation.

 

IX.

 

OFFICE BUILDINGS, SERVICE BUILDINGS, GARAGES, ETC.

 

All office, garage, service
and other buildings of the Company, wherever located, in the State of Michigan, constructed or otherwise acquired by it and not heretofore
described in the Indenture or any supplement thereto and not heretofore released from the lien of the Indenture, together with the land
on which the same are situated and all easements, rights of way and appurtenances to said lands, together with all furniture and fixtures
located in said buildings.

 

X.

 

TELEPHONE PROPERTIES AND

RADIO COMMUNICATION EQUIPMENT

 

All telephone lines, switchboards,
systems and equipment of the Company, constructed or otherwise acquired by it and not heretofore described in the Indenture or any supplement
thereto and not heretofore released from the lien of the Indenture, used or available for use in the operation of its properties, and
all other property, real or personal, forming a part of or appertaining to or used, occupied or enjoyed in connection with such telephone
properties or any of them or adjacent thereto; together with all real estate, rights of way, easements, permits, privileges, franchises,
property, devices or rights related to the dispatch, transmission, reception or reproduction of messages, communications, intelligence,
signals, light, vision or sound by electricity, wire or otherwise, including all telephone equipment installed in buildings used as general
and regional offices, substations and generating stations and all telephone lines erected on towers and poles; and all radio communication
equipment of the Company, together with all property, real or personal (except any in the Indenture expressly excepted), fixed stations,
towers, auxiliary radio buildings and equipment, and all appurtenances used in connection therewith, wherever located, in the State of
Michigan.

 

    

     

    

 

XI.

 

OTHER REAL PROPERTY

 

All other real property of the
Company and all interests therein, of every nature and description (except any in the Indenture expressly excepted) wherever located,
in the State of Michigan, acquired by it and not heretofore described in the Indenture or any supplement thereto and not heretofore released
from the lien of the Indenture. Such real property includes but is not limited to the following described property, such property is subject
to any interests that were excepted or reserved in the conveyance to the Company:

 

ALCONA COUNTY

 

Certain land in Caledonia Township,
Alcona County, Michigan described as:

 

The East 330 feet
of the South 660 feet of the SW 1/4 of the SW 1/4 of Section 8, T28N, R8E, except the West 264 feet of the South 330 feet thereof;
said land being more particularly described as follows: To find the place of beginning of this description, commence at the Southwest
corner of said section, run thence East along the South line of said section 1243 feet to the place of beginning of this description,
thence continuing East along said South line of said section 66 feet to the West 1/8 line of said section, thence N 02 degrees 09’
30” E along the said West 1/8 line of said section 660 feet, thence West 330 feet, thence S 02 degrees 09’ 30” W, 330
feet, thence East 264 feet, thence S 02 degrees 09’ 30” W, 330 feet to the place of beginning.

 

ALLEGAN COUNTY

 

Certain land in Lee Township, Allegan
County, Michigan described as:

 

The NE 1/4 of the
NW 1/4 of Section 16, T1N, R15W.

 

ALPENA COUNTY

 

Certain land in Wilson and Green Townships,
Alpena County, Michigan described as:

 

All that part of
the S’ly 1/2 of the former Boyne City-Gaylord and Alpena Railroad right of way, being the Southerly 50 feet of a 100 foot strip
of land formerly occupied by said Railroad, running from the East line of Section 31, T31N, R7E, Southwesterly across said Section 31
and Sections 5 and 6 of T30N, R7E and Sections 10, 11 and the E 1/2 of Section 9, except the West 1646 feet thereof, all in T30N,
R6E.

 

    

     

    

 

ANTRIM COUNTY

 

Certain land in Mancelona Township,
Antrim County, Michigan described as:

 

The S 1/2 of the
NE 1/4 of Section 33, T29N, R6W, excepting therefrom all mineral, coal, oil and gas and such other rights as were reserved unto the
State of Michigan in that certain deed running from the State of Michigan to August W. Schack and Emma H. Schack, his wife, dated
April 15, 1946 and recorded May 20, 1946 in Liber 97 of Deeds on page 682 of Antrim County Records.

 

ARENAC COUNTY

 

Certain land in Standish Township, Arenac
County, Michigan described as:

 

A parcel of land
in the SW 1/4 of the NW 1/4 of Section 12, T18N, R4E, described as follows: To find the place of beginning of said parcel of land,
commence at the Northwest corner of Section 12, T18N, R4E; run thence South along the West line of said section, said West line of
said section being also the center line of East City Limits Road 2642.15 feet to the W 1/4 post of said section and the place of beginning
of said parcel of land; running thence N 88 degrees 26’ 00” E along the East and West 1/4 line of said section, 660.0 feet;
thence North parallel with the West line of said section, 310.0 feet; thence S 88 degrees 26’ 00” W, 330.0 feet; thence South
parallel with the West line of said section, 260.0 feet; thence S 88 degrees 26’ 00” W, 330.0 feet to the West line of said
section and the center line of East City Limits Road; thence South along the said West line of said section, 50.0 feet to the place of
beginning.

 

BARRY COUNTY

 

Certain land in Johnstown Township,
Barry County, Michigan described as:

 

A strip of land
311 feet in width across the SW 1/4 of the NE 1/4 of Section 31, T1N, R8W, described as follows: To find the place of beginning of
this description, commence at the E 1⁄4 post of said section; run thence N 00 degrees 55’ 00” E along the East line of
said section, 555.84 feet; thence N 59 degrees 36’ 20” W, 1375.64 feet; thence N 88 degrees 30’ 00” W, 130 feet
to a point on the East 1/8 line of said section and the place of beginning of this description; thence continuing N 88 degrees 30’
00” W, 1327.46 feet to the North and South 1/4 line of said section; thence S 00 degrees 39’35” W along said North and
South 1/4 line of said section, 311.03 feet to a point, which said point is 952.72 feet distant N’ly from the East and West 1/4
line of said section as measured along said North and South 1/4 line of said section; thence S 88 degrees 30’ 00” E, 1326.76
feet to the East 1/8 line of said section; thence N 00 degrees 47’ 20” E along said East 1/8 line of said section, 311.02
feet to the place of beginning.

 

    

    

    

 

BAY COUNTY

 

Certain land in Frankenlust Township,
Bay County, Michigan described as:

 

The South 250 feet
of the N 1/2 of the W 1/2 of the W 1/2 of the SE 1/4 of Section 9, T13N, R4E.

 

BENZIE COUNTY

 

Certain land in Benzonia Township, Benzie
County, Michigan described as:

 

A parcel of land
in the Northeast 1/4 of Section 7, Township 26 North, Range 14 West, described as beginning at a point on the East line of said Section 7,
said point being 320 feet North measured along the East line of said section from the East 1/4 post; running thence West 165 feet; thence
North parallel with the East line of said section 165 feet; thence East 165 feet to the East line of said section; thence South 165 feet
to the place of beginning.

 

BRANCH COUNTY

 

Certain land in Girard Township, Branch
County, Michigan described as:

 

A parcel of land
in the NE 1/4 of Section 23 T5S, R6W, described as beginning at a point on the North and South quarter line of said section at a
point 1278.27 feet distant South of the North quarter post of said section, said distance being measured along the North and South quarter
line of said section, running thence S89 degrees21’E 250 feet, thence North along a line parallel with the said North and South
quarter line of said section 200 feet, thence N89 degrees 21’W 250 feet to the North and South quarter line of said section, thence
South along said North and South quarter line of said section 200 feet to the place of beginning.

 

CALHOUN COUNTY

 

Certain land in Convis Township, Calhoun
County, Michigan described as:

 

A parcel of land
in the SE 1/4 of the SE 1/4 of Section 32, T1S, R6W, described as follows: To find the place of beginning of this description, commence
at the Southeast corner of said section; run thence North along the East line of said section 1034.32 feet to the place of beginning of
this description; running thence N 89 degrees 39’ 52” W, 333.0 feet; thence North 290.0 feet to the South 1/8 line of said
section; thence S 89 degrees 39’ 52” E along said South 1/8 line of said section 333.0 feet to the East line of said section;
thence South along said East line of said section 290.0 feet to the place of beginning. (Bearings are based on the East line of Section 32,
T1S, R6W, from the Southeast corner of said section to the Northeast corner of said section assumed as North.)

 

    

    

    

 

CASS COUNTY

 

Certain easement rights located across
land in Marcellus Township, Cass County, Michigan described as:

 

The East 6 rods
of the SW 1/4 of the SE 1/4 of Section 4, T5S, R13W.

 

CHARLEVOIX COUNTY

 

Certain land in South Arm Township,
Charlevoix County, Michigan described as:

 

A parcel of land
in the SW 1/4 of Section 29, T32N, R7W, described as follows: Beginning at the Southwest corner of said section and running thence
North along the West line of said section 788.25 feet to a point which is 528 feet distant South of the South 1/8 line of said section
as measured along the said West line of said section; thence N 89 degrees 30’ 19” E, parallel with said South 1/8 line of
said section 442.1 feet; thence South 788.15 feet to the South line of said section; thence S 89 degrees 29’ 30” W, along
said South line of said section 442.1 feet to the place of beginning.

 

CHEBOYGAN COUNTY

 

Certain land in Inverness Township,
Cheboygan County, Michigan described as:

 

A parcel of land
in the SW frl 1/4 of Section 31, T37N, R2W, described as beginning at the Northwest corner of the SW frl 1/4, running thence East
on the East and West quarter line of said Section, 40 rods, thence South parallel to the West line of said Section 40 rods, thence
West 40 rods to the West line of said Section, thence North 40 rods to the place of beginning.

 

CLARE COUNTY

 

Certain land in Frost Township, Clare
County, Michigan described as:

 

The East 150 feet
of the North 225 feet of the NW 1/4 of the NW 1/4 of Section 15, T20N, R4W.

 

CLINTON COUNTY

 

Certain land in Watertown Township,
Clinton County, Michigan described as:

 

The NE 1/4 of the
NE 1/4 of the SE 1/4 of Section 22, and the North 165 feet of the NW 1/4 of the NE 1/4 of the SE 1/4 of Section 22, T5N, R3W.

 

    

    

    

 

CRAWFORD COUNTY

 

Certain land in Lovells Township, Crawford
County, Michigan described as:

 

A parcel of land
in Section 1, T28N, R1W, described as: Commencing at NW corner said section; thence South 89 degrees53’30” East along
North section line 105.78 feet to point of beginning; thence South 89 degrees53’30” East along North section line 649.64 feet;
thence South 55 degrees 42’30” East 340.24 feet; thence South 55 degrees 44’ 37”“ East 5,061.81 feet to
the East section line; thence South 00 degrees 00’ 08”“ West along East section line 441.59 feet; thence North 55 degrees
44’ 37” West 5,310.48 feet; thence North 55 degrees 42’30” West 877.76 feet to point of beginning.

 

EATON COUNTY

 

Certain land in Eaton Township, Eaton
County, Michigan described as:

 

A parcel of land
in the SW 1/4 of Section 6, T2N, R4W, described as follows: To find the place of beginning of this description commence at the Southwest
corner of said section; run thence N 89 degrees 51’ 30” E along the South line of said section 400 feet to the place of beginning
of this description; thence continuing N 89 degrees 51’ 30” E, 500 feet; thence N 00 degrees 50’ 00” W, 600 feet;
thence S 89 degrees 51’ 30” W parallel with the South line of said section 500 feet; thence S 00 degrees 50’ 00”
E, 600 feet to the place of beginning.

 

EMMET COUNTY

 

Certain land in Wawatam Township, Emmet
County, Michigan described as:

 

The West 1/2 of
the Northeast 1/4 of the Northeast 1/4 of Section 23, T39N, R4W.

 

GENESEE COUNTY

 

Certain land in Argentine Township,
Genesee County, Michigan described as:

 

A parcel of land
of part of the SW 1/4 of Section 8, T5N, R5E, being more particularly described as follows:

 

Beginning at a point
of the West line of Duffield Road, 100 feet wide, (as now established) distant 829.46 feet measured N01 degrees42’56”W and
50 feet measured S88 degrees14’04”W from the South quarter corner, Section 8, T5N, R5E; thence S88 degrees14’04”W
a distance of 550 feet; thence N01 degrees42’56”W a distance of 500 feet to a point on the North line of the South half of
the Southwest quarter of said Section 8; thence N88 degrees14’04”E along the North line of South half of the Southwest
quarter of said Section 8 a distance 550 feet to a point on the West line of Duffield Road, 100 feet wide (as now established); thence
S 01 degrees 42’56”E along the West line of said Duffield Road a distance of 500 feet to the point of beginning.

 

    

    

    

 

GLADWIN COUNTY

 

Certain land in Secord Township, Gladwin
County, Michigan described as:

 

The East 400 feet
of the South 450 feet of Section 2, T19N, R1E.

 

GRAND TRAVERSE COUNTY

 

Certain land in Mayfield Township, Grand
Traverse County, Michigan described as:

 

A parcel of land
in the Northwest 1/4 of Section 3, T25N, R11W, described as follows: Commencing at the Northwest corner of said section, running
thence S 89 degrees19’15” E along the North line of said section and the center line of Clouss Road 225 feet, thence South
400 feet, thence N 89 degrees19’15” W 225 feet to the West line of said section and the center line of Hannah Road, thence
North along the West line of said section and the center line of Hannah Road 400 feet to the place of beginning for this description.

 

GRATIOT COUNTY

 

Certain land in Fulton Township, Gratiot
County, Michigan described as:

 

A parcel of land
in the NE 1/4 of Section 7, Township 9 North, Range 3 West, described as beginning at a point on the North line of George Street
in the Village of Middleton, which is 542 feet East of the North and South one-quarter (1/4) line of said Section 7; thence North
100 feet; thence East 100 feet; thence South 100 feet to the North line of George Street; thence West along the North line of George Street
100 feet to place of beginning.

 

HILLSDALE COUNTY

 

Certain land in Litchfield Village,
Hillsdale County, Michigan described as:

 

Lot 238 of Assessors
Plat of the Village of Litchfield.

 

HURON COUNTY

 

Certain easement rights located across
land in Sebewaing Township, Huron County, Michigan described as:

 

The North 1/2 of
the Northwest 1/4 of Section 15, T15N, R9E.

 

    

    

    

 

INGHAM COUNTY

 

Certain land in Vevay Township, Ingham
County, Michigan described as:

 

A parcel of land
660 feet wide in the Southwest 1/4 of Section 7 lying South of the centerline of Sitts Road as extended to the North-South 1/4 line
of said Section 7, T2N, R1W, more particularly described as follows: Commence at the Southwest corner of said Section 7, thence
North along the West line of said Section 2502.71 feet to the centerline of Sitts Road; thence South 89 degrees54’45”
East along said centerline 2282.38 feet to the place of beginning of this description; thence continuing South 89 degrees54’45”
East along said centerline and said centerline extended 660.00 feet to the North-South 1/4 line of said section; thence South 00 degrees07’20”
West 1461.71 feet; thence North 89 degrees34’58” West 660.00 feet; thence North 00 degrees07’20” East 1457.91
feet to the centerline of Sitts Road and the place of beginning.

 

IONIA COUNTY

 

Certain land in Sebewa Township, Ionia
County, Michigan described as:

 

A strip of land
280 feet wide across that part of the SW 1/4 of the NE 1/4 of Section 15, T5N, R6W, described as follows:

 

To find the place
of beginning of this description commence at the E 1/4 corner of said section; run thence N 00 degrees 05’ 38” W along the
East line of said section, 1218.43 feet; thence S 67 degrees 18’ 24” W, 1424.45 feet to the East 1/8 line of said section
and the place of beginning of this description; thence continuing S 67 degrees 18’ 24” W, 1426.28 feet to the North and South
1/4 line of said section at a point which said point is 105.82 feet distant N’ly of the center of said section as measured along
said North and South 1/4 line of said section; thence N 00 degrees 04’ 47” E along said North and South 1/4 line of said section,
303.67 feet; thence N 67 degrees 18’ 24” E, 1425.78 feet to the East 1/8 line of said section; thence S 00 degrees 00’
26” E along said East 1/8 line of said section, 303.48 feet to the place of beginning. (Bearings are based on the East line of Section 15,
T5N, R6W, from the E 1/4 corner of said section to the Northeast corner of said section assumed as N 00 degrees 05’ 38” W.)

 

IOSCO COUNTY

 

Certain land in Alabaster Township, Iosco
County, Michigan described as:

 

A parcel of land
in the NW 1/4 of Section 34, T21N, R7E, described as follows: To find the place of beginning of this description commence at the
N 1/4 post of said section; run thence South along the North and South 1/4 line of said section, 1354.40 feet to the place of beginning
of this description; thence continuing South along the said North and South 1/4 line of said section, 165.00 feet to a point on the said
North and South 1/4 line of said section which said point is 1089.00 feet distant North of the center of said section; thence West 440.00
feet; thence North 165.00 feet; thence East 440.00 feet to the said North and South 1/4 line of said section and the place of beginning.

 

    

    

    

 

ISABELLA COUNTY

 

Certain land in Chippewa Township, Isabella
County, Michigan described as:

 

The North 8 rods
of the NE 1/4 of the SE 1/4 of Section 29, T14N, R3W.

 

JACKSON COUNTY

 

Certain land in Waterloo Township, Jackson
County, Michigan described as:

 

A parcel of land
in the North fractional part of the N fractional 1/2 of Section 2, T1S, R2E, described as follows: To find the place of beginning
of this description commence at the E 1/4 post of said section; run thence N 01 degrees 03’ 40” E along the East line of said
section 1335.45 feet to the North 1/8 line of said section and the place of beginning of this description; thence N 89 degrees 32’
00” W, 2677.7 feet to the North and South 1/4 line of said section; thence S 00 degrees 59’ 25” W along the North and
South 1/4 line of said section 22.38 feet to the North 1/8 line of said section; thence S 89 degrees 59’ 10” W along the North
1/8 line of said section 2339.4 feet to the center line of State Trunkline Highway M-52; thence N 53 degrees 46’ 00” W along
the center line of said State Trunkline Highway 414.22 feet to the West line of said section; thence N 00 degrees 55’ 10”
E along the West line of said section 74.35 feet; thence S 89 degrees 32’ 00” E, 5356.02 feet to the East line of said section;
thence S 01 degrees 03’ 40” W along the East line of said section 250 feet to the place of beginning.

 

KALAMAZOO COUNTY

 

Certain land in Alamo Township, Kalamazoo
County, Michigan described as:

 

The South 350 feet
of the NW 1/4 of the NW 1/4 of Section 16, T1S, R12W, being more particularly described as follows: To find the place of beginning
of this description, commence at the Northwest corner of said section; run thence S 00 degrees 36’ 55” W along the West line
of said section 971.02 feet to the place of beginning of this description; thence continuing S 00 degrees 36’ 55” W along
said West line of said section 350.18 feet to the North 1/8 line of said section; thence S 87 degrees 33’ 40” E along the
said North 1/8 line of said section 1325.1 feet to the West 1/8 line of said section; thence N 00 degrees 38’ 25” E along
the said West 1/8 line of said section 350.17 feet; thence N 87 degrees 33’ 40” W, 1325.25 feet to the place of beginning.

 

    

    

    

 

KALKASKA COUNTY

 

Certain land in Kalkaska Township, Kalkaska
County, Michigan described as:

 

The NW 1/4 of the
SW 1/4 of Section 4, T27N, R7W, excepting therefrom all mineral, coal, oil and gas and such other rights as were reserved unto the
State of Michigan in that certain deed running from the Department of Conservation for the State of Michigan to George Welker and Mary
Welker, his wife, dated October 9, 1934 and recorded December 28, 1934 in Liber 39 on page 291 of Kalkaska County Records,
and subject to easement for pipeline purposes as granted to Michigan Consolidated Gas Company by first party herein on April 4, 1963
and recorded June 21, 1963 in Liber 91 on page 631 of Kalkaska County Records.

 

KENT COUNTY

 

Certain land in Caledonia Township,
Kent County, Michigan described as:

 

A parcel of land
in the Northwest fractional 1/4 of Section 15, T5N, R10W, described as follows: To find the place of beginning of this description
commence at the North 1/4 corner of said section, run thence S 0 degrees 59’ 26” E along the North and South 1/4 line of said
section 2046.25 feet to the place of beginning of this description, thence continuing S 0 degrees 59’ 26” E along said North
and South 1/4 line of said section 332.88 feet, thence S 88 degrees 58’ 30” W 2510.90 feet to a point herein designated “Point
A” on the East bank of the Thornapple River, thence continuing S 88 degrees 53’ 30” W to the center thread of the Thornapple
River, thence NW’ly along the center thread of said Thornapple River to a point which said point is S 88 degrees 58’ 30”
W of a point on the East bank of the Thornapple River herein designated “Point B”, said “Point B” being N 23 degrees
41’ 35” W 360.75 feet from said above-described “Point A”, thence N 88 degrees 58’ 30” E to said “Point
B”, thence continuing N 88 degrees 58’ 30” E 2650.13 feet to the place of beginning. (Bearings are based on the East
line of Section 15, T5N, R10W between the East 1/4 corner of said section and the Northeast corner of said section assumed as N 0
degrees 59’ 55” W.)

 

LAKE COUNTY

 

Certain land in Pinora and Cherry Valley
Townships, Lake County, Michigan described as:

 

A strip of land
50 feet wide East and West along and adjoining the West line of highway on the East side of the North 1/2 of Section 13 T18N, R12W.
Also a strip of land 100 feet wide East and West along and adjoining the East line of the highway on the West side of following described
land: The South 1/2 of NW 1/4, and the South 1/2 of the NW 1/4 of the SW 1/4, all in Section 6, T18N, R11W.

 

    

    

    

 

LAPEER COUNTY

 

Certain land in Hadley Township, Lapeer
County, Michigan described as:

 

The South 825 feet
of the W 1/2 of the SW 1/4 of Section 24, T6N, R9E, except the West 1064 feet thereof.

 

LEELANAU COUNTY

 

Certain land in Cleveland Township,
Leelanau County, Michigan described as:

 

The North 200 feet
of the West 180 feet of the SW 1/4 of the SE 1/4 of Section 35, T29N, R13W.

 

LENAWEE COUNTY

 

Certain land in Madison Township, Lenawee
County, Michigan described as:

 

A strip of land
165 feet wide off the West side of the following described premises: The E 1/2 of the SE 1/4 of Section 12. The E 1/2 of the NE 1/4
and the NE 1/4 of the SE 1/4 of Section 13, being all in T7S, R3E, excepting therefrom a parcel of land in the E 1/2 of the SE 1/4
of Section 12, T7S, R3E, beginning at the Northwest corner of said E 1/2 of the SE 1/4 of Section 12, running thence East 4
rods, thence South 6 rods, thence West 4 rods, thence North 6 rods to the place of beginning.

 

LIVINGSTON COUNTY

 

Certain land in Cohoctah Township, Livingston
County, Michigan described as:

 

Parcel 1

 

The East 390 feet
of the East 50 rods of the SW 1/4 of Section 30, T4N, R4E.

 

Parcel 2

 

A parcel of land
in the NW 1/4 of Section 31, T4N, R4E, described as follows: To find the place of beginning of this description commence at the N
1/4 post of said section; run thence N 89 degrees 13’ 06” W along the North line of said section, 330 feet to the place of
beginning of this description; running thence S 00 degrees 52’ 49” W, 2167.87 feet; thence N 88 degrees 59’ 49”
W, 60 feet; thence N 00 degrees 52’ 49” E, 2167.66 feet to the North line of said section; thence S 89 degrees 13’ 06”
E along said North line of said section, 60 feet to the place of beginning.

 

    

    

    

 

MACOMB COUNTY

 

Certain land in Macomb Township, Macomb
County, Michigan described as:

 

A parcel of land
commencing on the West line of the E 1/2 of the NW 1/4 of fractional Section 6, 20 chains South of the NW corner of said E 1/2 of
the NW 1/4 of Section 6; thence South on said West line and the East line of A. Henry Kotner’s Hayes Road Subdivision #15,
according to the recorded plat thereof, as recorded in Liber 24 of Plats, on page 7, 24.36 chains to the East and West 1/4 line of
said Section 6; thence East on said East and West 1/4 line 8.93 chains; thence North parallel with the said West line of the E 1/2
of the NW 1/4 of Section 6, 24.36 chains; thence West 8.93 chains to the place of beginning, all in T3N, R13E.

 

MANISTEE COUNTY

 

Certain land in Manistee Township, Manistee
County, Michigan described as:

 

A parcel of land
in the SW 1/4 of Section 20, T22N, R16W, described as follows: To find the place of beginning of this description, commence at the
Southwest corner of said section; run thence East along the South line of said section 832.2 feet to the place of beginning of this description;
thence continuing East along said South line of said section 132 feet; thence North 198 feet; thence West 132 feet; thence South 198 feet
to the place of beginning, excepting therefrom the South 2 rods thereof which was conveyed to Manistee Township for highway purposes by
a Quitclaim Deed dated June 13, 1919 and recorded July 11, 1919 in Liber 88 of Deeds on page 638 of Manistee County Records.

 

MASON COUNTY

 

Certain land in Riverton Township, Mason
County, Michigan described as:

 

Parcel 1: The South 10 acres of the West
20 acres of the S 1/2 of the NE 1/4 of Section 22, T17N, R17W.

 

Parcel 2: A parcel of land containing
4 acres of the West side of highway, said parcel of land being described as commencing 16 rods South of the Northwest corner of the NW
1/4 of the SW 1⁄4 of Section 22, T17N, R17W, running thence South 64 rods, thence NE’ly and N’ly and NW’ly
along the W’ly line of said highway to the place of beginning, together with any and all right, title, and interest of Howard C.
Wicklund and Katherine E. Wicklund in and to that portion of the hereinbefore mentioned highway lying adjacent to the E’ly line
of said above described land.

 

    

    

    

 

MECOSTA COUNTY

 

Certain land in Wheatland Township,
Mecosta County, Michigan described as:

 

A parcel of land
in the SW 1/4 of the SW 1/4 of Section 16, T14N, R7W, described as beginning at the Southwest corner of said section; thence East
along the South line of Section 133 feet; thence North parallel to the West section line 133 feet; thence West 133 feet to the West
line of said Section; thence South 133 feet to the place of beginning.

 

MIDLAND COUNTY

 

Certain land in Ingersoll Township,
Midland County, Michigan described as:

 

The West 200 feet
of the W 1/2 of the NE 1/4 of Section 4, T13N, R2E.

 

MISSAUKEE COUNTY

 

Certain land in Norwich Township, Missaukee
County, Michigan described as:

 

A parcel of land
in the NW 1/4 of the NW 1/4 of Section 16, T24N, R6W, described as follows: Commencing at the Northwest corner of said section, running
thence N 89 degrees 01’ 45” E along the North line of said section 233.00 feet; thence South 233.00 feet; thence S 89 degrees
01’ 45” W, 233.00 feet to the West line of said section; thence North along said West line of said section 233.00 feet to
the place of beginning. (Bearings are based on the West line of Section 16, T24N, R6W, between the Southwest and Northwest corners
of said section assumed as North.)

 

MONROE COUNTY

 

Certain land in Whiteford Township,
Monroe County, Michigan described as:

 

A parcel of land
in the SW1/4 of Section 20, T8S, R6E, described as follows: To find the place of beginning of this description commence at the S
1/4 post of said section; run thence West along the South line of said section 1269.89 feet to the place of beginning of this description;
thence continuing West along said South line of said section 100 feet; thence N 00 degrees 50’ 35” E, 250 feet; thence East
100 feet; thence S 00 degrees 50’ 35” W parallel with and 16.5 feet distant W’ly of as measured perpendicular to the
West 1/8 line of said section, as occupied, a distance of 250 feet to the place of beginning.

 

MONTCALM COUNTY

 

Certain land in Crystal Township, Montcalm
County, Michigan described as:

 

The N 1/2 of the
S 1/2 of the SE 1/4 of Section 35, T10N, R5W.

 

    

    

    

 

MONTMORENCY COUNTY

 

Certain land in the Village of Hillman,
Montmorency County, Michigan described as:

 

Lot 14 of Hillman
Industrial Park, being a subdivision in the South 1/2 of the Northwest 1/4 of Section 24, T31N, R4E, according to the plat thereof
recorded in Liber 4 of Plats on Pages 32-34, Montmorency County Records.

 

MUSKEGON COUNTY

 

Certain land in Casnovia Township, Muskegon
County, Michigan described as:

 

The West 433 feet
of the North 180 feet of the South 425 feet of the SW 1/4 of Section 3, T10N, R13W.

 

NEWAYGO COUNTY

 

Certain land in Ashland Township, Newaygo
County, Michigan described as:

 

The West 250 feet
of the NE 1/4 of Section 23, T11N, R13W.

 

OAKLAND COUNTY

 

Certain land in Wixcom City, Oakland
County, Michigan described as:

 

The E 75 feet of
the N 160 feet of the N 330 feet of the W 526.84 feet of the NW 1/4 of the NW 1/4 of Section 8, T1N, R8E, more particularly described
as follows: Commence at the NW corner of said Section 8, thence N 87 degrees 14’ 29” E along the North line of said Section 8
a distance of 451.84 feet to the place of beginning for this description; thence continuing N 87 degrees 14’ 29” E along said
North section line a distance of 75.0 feet to the East line of the West 526.84 feet of the NW 1/4 of the NW 1/4 of said Section 8;
thence S 02 degrees 37’ 09” E along said East line a distance of 160.0 feet; thence S 87 degrees 14’ 29” W a distance
of 75.0 feet; thence N 02 degrees 37’ 09” W a distance of 160.0 feet to the place of beginning.

 

OCEANA COUNTY

 

Certain land in Crystal Township, Oceana
County, Michigan described as:

 

The East 290 feet
of the SE 1/4 of the NW 1/4 and the East 290 feet of the NE 1/4 of the SW 1/4, all in Section 20, T16N, R16W.

 

    

    

    

 

OGEMAW COUNTY

 

Certain land in West Branch Township,
Ogemaw County, Michigan described as:

 

The South 660 feet
of the East 660 feet of the NE 1/4 of the NE 1/4 of Section 33, T22N, R2E.

 

OSCEOLA COUNTY

 

Certain land in Hersey Township, Osceola
County, Michigan described as:

 

A parcel of land
in the North 1/2 of the Northeast 1/4 of Section 13, T17N, R9W, described as commencing at the Northeast corner of said Section;
thence West along the North Section line 999 feet to the point of beginning of this description; thence S 01 degrees 54’ 20”
E 1327.12 feet to the North 1/8 line; thence S 89 degrees 17’ 05” W along the North 1/8 line 330.89 feet; thence N 01 degrees
54’ 20” W 1331.26 feet to the North Section line; thence East along the North Section line 331 feet to the point
of beginning.

 

OSCODA COUNTY

 

Certain land in Comins Township, Oscoda
County, Michigan described as:

 

The East 400 feet
of the South 580 feet of the W 1/2 of the SW 1/4 of Section 15, T27N, R3E.

 

OTSEGO COUNTY

 

Certain land in Corwith Township, Otsego
County, Michigan described as:

 

Part of the
NW 1/4 of the NE 1/4 of Section 28, T32N, R3W, described as: Beginning at the N 1/4 corner of said section; running thence S 89 degrees
04’ 06” E along the North line of said section, 330.00 feet; thence S 00 degrees 28’ 43” E, 400.00 feet; thence
N 89 degrees 04’ 06” W, 330.00 feet to the North and South 1/4 line of said section; thence N 00 degrees 28’ 43”
W along the said North and South 1/4 line of said section, 400.00 feet to the point of beginning; subject to the use of the N’ly
33.00 feet thereof for highway purposes.

 

OTTAWA COUNTY

 

Certain land in Robinson Township, Ottawa
County, Michigan described as:

 

The North 660 feet
of the West 660 feet of the NE 1/4 of the NW 1/4 of Section 26, T7N, R15W.

 

    

    

    

 

PRESQUE ISLE COUNTY

 

Certain land in Belknap and Pulawski
Townships, Presque Isle County, Michigan described as:

 

Part of the
South half of the Northeast quarter, Section 24, T34N, R5E, and part of the Northwest quarter, Section 19, T34N, R6E, more fully
described as: Commencing at the East 1⁄4 corner of said Section 24; thence N 00 degrees15’47” E, 507.42 feet, along
the East line of said Section 24 to the point of beginning; thence S 88 degrees15’36” W, 400.00 feet, parallel with the
North 1/8 line of said Section 24; thence N 00 degrees15’47” E, 800.00 feet, parallel with said East line of Section 24;
thence N 88 degrees15’36”E, 800.00 feet, along said North 1/8 line of Section 24 and said line extended; thence S 00
degrees15’47” W, 800.00 feet, parallel with said East line of Section 24; thence S 88 degrees15’36” W, 400.00
feet, parallel with said North 1/8 line of Section 24 to the point of beginning.

 

Together with a
33 foot easement along the West 33 feet of the Northwest quarter lying North of the North 1/8 line of Section 24, Belknap Township,
extended, in Section 19, T34N, R6E.

 

ROSCOMMON COUNTY

 

Certain land in Gerrish Township, Roscommon
County, Michigan described as:

 

A parcel of land
in the NW 1/4 of Section 19, T24N, R3W, described as follows: To find the place of beginning of this description commence at the
Northwest corner of said section, run thence East along the North line of said section 1,163.2 feet to the place of beginning of this
description (said point also being the place of intersection of the West 1/8 line of said section with the North line of said section),
thence S 01 degrees 01’ E along said West 1/8 line 132 feet, thence West parallel with the North line of said section 132 feet,
thence N 01 degrees 01’ W parallel with said West 1/8 line of said section 132 feet to the North line of said section, thence East
along the North line of said section 132 feet to the place of beginning.

 

SAGINAW COUNTY

 

Certain land in Chapin Township, Saginaw
County, Michigan described as:

 

A parcel of land
in the SW 1/4 of Section 13, T9N, R1E, described as follows: To find the place of beginning of this description commence at the Southwest
corner of said section; run thence North along the West line of said section 1581.4 feet to the place of beginning of this description;
thence continuing North along said West line of said section 230 feet to the center line of a creek; thence S 70 degrees 07’ 00”
E along said center line of said creek 196.78 feet; thence South 163.13 feet; thence West 185 feet to the West line of said section and
the place of beginning.

 

    

    

    

 

SANILAC COUNTY

 

Certain easement rights located across
land in Minden Township, Sanilac County, Michigan described as:

 

The Southeast 1/4
of the Southeast 1/4 of Section 1, T14N, R14E, excepting therefrom the South 83 feet of the East 83 feet thereof.

 

SHIAWASSEE COUNTY

 

Certain land in Burns Township, Shiawassee
County, Michigan described as:

 

The South 330 feet
of the E 1/2 of the NE 1/4 of Section 36, T5N, R4E.

 

ST. CLAIR COUNTY

 

Certain land in Ira Township, St. Clair
County, Michigan described as:

 

The N 1/2 of the
NW 1/4 of the NE 1/4 of Section 6, T3N, R15E.

 

ST. JOSEPH COUNTY

 

Certain land in Mendon Township, St.
Joseph County, Michigan described as:

 

The North 660 feet
of the West 660 feet of the NW 1/4 of SW 1/4, Section 35, T5S, R10W.

 

TUSCOLA COUNTY

 

Certain land in Millington Township,
Tuscola County, Michigan described as:

 

A strip of land
280 feet wide across the East 96 rods of the South 20 rods of the N 1/2 of the SE 1/4 of Section 34, T10N, R8E, more particularly
described as commencing at the Northeast corner of Section 3, T9N, R8E, thence S 89 degrees 55’ 35” W along the South
line of said Section 34 a distance of 329.65 feet, thence N 18 degrees 11’ 50” W a distance of 1398.67 feet to the South
1/8 line of said Section 34 and the place of beginning for this description; thence continuing N 18 degrees 11’ 50”
W a distance of 349.91 feet; thence N 89 degrees 57’ 01” W a distance of 294.80 feet; thence S 18 degrees 11’ 50”
E a distance of 350.04 feet to the South 1/8 line of said Section 34; thence S 89 degrees 58’ 29” E along the South 1/8
line of said section a distance of 294.76 feet to the place of beginning.

 

VAN BUREN COUNTY

 

Certain land in Covert Township, Van
Buren County, Michigan described as:

 

All that part of
the West 20 acres of the N 1/2 of the NE fractional 1/4 of Section 1, T2S, R17W, except the West 17 rods of the North 80 rods, being
more particularly described as follows: To find the place of beginning of this description commence at the N 1/4 post of said section;
run thence N 89 degrees 29’ 20” E along the North line of said section 280.5 feet to the place of beginning of this description;
thence continuing N 89 degrees 29’ 20” E along said North line of said section 288.29 feet; thence S 00 degrees 44’
00” E, 1531.92 feet; thence S 89 degrees 33’ 30” W, 568.79 feet to the North and South 1/4 line of said section; thence
N 00 degrees 44’ 00” W along said North and South 1/4 line of said section 211.4 feet; thence N 89 degrees 29’ 20”
E, 280.5 feet; thence N 00 degrees 44’ 00” W, 1320 feet to the North line of said section and the place of beginning.

 

    

    

    

 

WASHTENAW COUNTY

 

Certain land in Manchester Township,
Washtenaw County, Michigan described as:

 

A parcel of land
in the NE 1/4 of the NW 1/4 of Section 1, T4S, R3E, described as follows: To find the place of beginning of this description commence
at the Northwest corner of said section; run thence East along the North line of said section 1355.07 feet to the West 1/8 line of said
section; thence S 00 degrees 22’ 20” E along said West 1/8 line of said section 927.66 feet to the place of beginning of this
description; thence continuing S 00 degrees 22’ 20” E along said West 1/8 line of said section 660 feet to the North 1/8 line
of said section; thence N 86 degrees 36’ 57” E along said North 1/8 line of said section 660.91 feet; thence N 00 degrees22’
20” W, 660 feet; thence S 86 degrees 36’ 57” W, 660.91 feet to the place of beginning.

 

WAYNE COUNTY

 

Certain land in Livonia City, Wayne
County, Michigan described as:

 

Commencing at the
Southeast corner of Section 6, T1S, R9E; thence North along the East line of Section 6 a distance of 253 feet to the point of
beginning; thence continuing North along the East line of Section 6 a distance of 50 feet; thence Westerly parallel to the South
line of Section 6, a distance of 215 feet; thence Southerly parallel to the East line of Section 6 a distance of 50 feet;
thence easterly parallel with the South line of Section 6 a distance of 215 feet to the point of beginning.

 

WEXFORD COUNTY

 

Certain land in Selma Township, Wexford
County, Michigan described as:

 

A parcel of land
in the NW 1/4 of Section 7, T22N, R10W, described as beginning on the North line of said section at a point 200 feet East of the
West line of said section, running thence East along said North section line 450 feet, thence South parallel with said West section line
350 feet, thence West parallel with said North section line 450 feet, thence North parallel with said West section line 350 feet to the
place of beginning.

     

     

    

 

SECTION 14. The Company
is a transmitting utility under Section 9501(2) of the Michigan Uniform Commercial Code (M.C.L. 440.9501(2)) as defined in M.C.L.
440.9102(1)(aaaa).

 

IN WITNESS WHEREOF, said Consumers
Energy Company has caused this Supplemental Indenture to be executed in its corporate name by its Chairman of the Board, President, a
Vice President or its Treasurer, and said The Bank of New York Mellon, as Trustee as aforesaid, to evidence its acceptance hereof, has
caused this Supplemental Indenture to be executed in its corporate name by a Vice President, in several counterparts, all as of the day
and year first above written.

     

     

    

 

	 	CONSUMERS ENERGY COMPANY 
	 	 	 
	 	By:	/s/ Srikanth Maddipati 
	 	Name:	Srikanth Maddipati 
	 	Title:	Vice President and Treasurer 

 

	STATE OF MICHIGAN	)
	 	  ss.
	COUNTY OF JACKSON	)

 

The
foregoing instrument was acknowledged before me this 14th day of December, 2022, by Srikanth
Maddipati, Vice President and Treasurer of CONSUMERS ENERGY COMPANY, a Michigan corporation, on behalf of the corporation.

 

	 	/s/ Lindsey White
	 	Lindsey White, Notary Public
	[SEAL]	State of Michigan, County of Jackson
	 	My Commission Expires: February 25, 2027
	 	Acting in the County of Jackson

 

    S-1

    

    

 

	 	 	THE BANK OF NEW YORK MELLON,
	 	 	AS TRUSTEE
	 	 	 
	 	By:	/s/ Francine Kincaid
	 	 	Name: Francine Kincaid 
	 	 	Title: Vice President

 

	STATE OF NEW YORK	)
	 	  ss.
	COUNTY OF NEW YORK	)

 

The
foregoing instrument was acknowledged before me this 12th day of December 2022, by Francine Kincaid,
a Vice President of THE BANK OF NEW YORK MELLON, a New York banking corporation, on behalf of the bank, as trustee.

 

	 	/s/ Rafal Bar
	 	Rafal Bar
	 	 
	 	RAFAL BAR
	 	Notary Public State of New York
	 	Registration No. 01BA6293822
	 	Qualified in Kings County
	 	My Commission Expires: 01/31/2026

 

[SEAL]

 

	
    Prepared by:

    Melissa M. Gleespen

    One Energy Plaza, EP12-246

    Jackson, MI 49201

     
	
    When recorded, return to:

    Consumers Energy Company

    Attn: Lindsey White

    One Energy Plaza

    Jackson, MI 49201

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00351-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00351-of-00352.parquet"}]]