Document:

formofmlpa.htm

     

     

     

    EXHIBIT
      10.1

     

     

    

      FORM
        OF MORTGAGE LOAN PURCHASE AGREEMENT

      

      This
        Mortgage Loan Purchase Agreement (the "Agreement") dated as of May 1, 2007
        is
        between CitiMortgage, Inc. ("CMI" or the "Seller") and Citicorp Mortgage
        Securities, Inc., a Delaware corporation ("CMSI").  The Seller agrees
        to sell, and CMSI agrees to purchase, the mortgage loans originated or acquired
        by CMI as described and set forth in the Mortgage Loan Schedule attached
        as
        exhibit B (the "mortgage loans") to the Pooling and Servicing Agreement dated
        as
        of May 1, 2007 (the "Pooling Agreement"), between CMSI, CMI, U.S. Bank National
        Association, a national banking association, in its individual capacity and
        as
        Trustee (the "Trustee"), and Citibank, N.A., in its individual capacity and
        as
        Paying Agent, Certificate Registrar and Authentication Agent, relating to
        the
        issuance of Citicorp Mortgage Securities Trust, Series 2007-4 REMIC Pass-Through
        Certificates class A, class B and residual certificates.  Terms used
        without definition herein shall have the respective meanings assigned to
        them in
        the Pooling Agreement or, if not defined therein, in the Underwriting Agreement
        dated April 26, 2007 (the "Underwriting Agreement"), among CMSI, Citigroup
        Inc.
        and Citigroup Global Markets Inc. (the "Underwriter").

      

      1.      Purchase
        Price.  The purchase price (the "Purchase Price") for the mortgage
        loans shall consist of (a) cash in the amount of ___________% of the aggregate
        scheduled principal balance thereof as of the cut-off date, plus accrued
        interest thereon at the rate of 6.00% per annum on the mortgage loans in
        pool I
        and 5.50% per annum on the mortgage loans in pool II and pool III, from and
        including the cut-off date to but excluding the closing date, (b) the class
        IA-IO, IIA-IO and IIIA-IO certificates, (c) the class LR certificates and
        (d)
        the class PR certificates.  Such cash shall be payable by CMSI to the
        Seller on the closing date in same-day funds, and the Seller will receive
        on the
        closing date: (a) the class IA-IO, IIA-IO and IIIA-IO certificates and (b)
        the
        class LR and class PR certificates evidencing the residual interests in the
        lower-tier REMIC and the pooling REMIC, respectively.  If CMSI for any
        reason shall repay to the Underwriter any portion of the price paid to CMSI
        by
        the Underwriter pursuant to the Underwriting Agreement, the Seller shall
        simultaneously and in the same manner repay to CMSI a proportionate amount
        of
        the Purchase Price as such repayment to the Underwriter.

      

      Upon
        payment of the Purchase Price, the Seller shall transfer, assign, set over
        and
        otherwise convey to CMSI without recourse all of the Seller's right, title
        and
        interest in and to the mortgage loans, including all interest and principal
        received or receivable by the Seller on or with respect to the mortgage loans
        (other than payments of principal and interest due and payable on the mortgage
        loans on or before the cut-off date and prepayments of principal on the mortgage
        loans received or posted prior to the close of business on the cut-off date),
        together with all of the Seller's right, title and interest in and to the
        proceeds of any related title, hazard or other insurance policies and Primary
        Mortgage Insurance Certificates.  The Seller agrees to deliver to CMSI
        all documents, instruments and agreements required to be delivered by CMSI
        to
        the Trustee under the Pooling Agreement and such other documents, instruments
        and agreements as CMSI shall reasonably request.  CMSI hereby directs
        the Seller to execute and deliver to the Trustee assignments of the Mortgages
        to
        the Trustee (and endorsements of any Mortgage Notes relating thereto) in
        recordable form.  Such assignments and endorsements shall not affect
        the rights of the parties hereto or to the Pooling Agreement.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      2.      Representations.  The
        Seller hereby represents and warrants to CMSI (i) that CMSI's representations
        and warranties pursuant to the Pooling Agreement to the Trustee with respect
        to
        the mortgage loans are true and correct and (ii) that the Seller has not
        dealt
        with any broker, investment banker, agent or other person (other than CMSI
        and
        the Underwriter) who may be entitled to any commission or compensation in
        connection with the sale of the related mortgage loans.  The Seller
        hereby agrees to cure any breach of such representations and warranties in
        accordance with the terms of the Pooling Agreement.

      

      3.      Underwriting.  The
        Seller hereby agrees to furnish any and all information, documents,
        certificates, letters or opinions reasonably requested by CMSI in order to
        perform any of its obligations or satisfy any of the conditions on its part
        to
        be performed or satisfied at or prior to the closing date.

      

      4.      Costs.  CMSI
        shall pay all expenses incidental to the performance of its obligations under
        the Underwriting Agreement, including without limitation (i) any recording
        fees
        or fees for title policy endorsements and continuations, (ii) the expenses
        of
        preparing, printing and reproducing the Registration Statement, the Prospectus,
        the Underwriting Agreement, the Pooling Agreement and the certificates and
        (iii)
        the cost of delivering the certificates to the offices of The Depository
        Trust
        Company or the Underwriter, as the case may be.

      

      5.      Indemnification.  The
        Seller hereby agrees to indemnify, defend and hold harmless CMSI against
        any and
        all losses, claims, damages or liabilities (i) resulting from the Seller's
        failure to perform any of its obligations hereunder, (ii) resulting from
        the
        inaccuracy of the Seller's representations and warranties herein or of CMSI's
        representations and warranties in the Pooling Agreement or (iii) insofar
        as such
        losses, claims, damages or liabilities (or actions or demands for reimbursement
        or contribution in respect thereof) arise out of or are based upon information
        relating to the Seller or the mortgage loans pursuant to the Underwriting
        Agreement.

      

      6.      Purchase
        and Sale; Security Interest.  The parties hereto intend the
        conveyance by the Seller to CMSI of all of its right, title and interest
        in and
        to the mortgage loans pursuant to this Agreement to constitute a purchase
        and
        sale and not a loan. Notwithstanding the foregoing, to the extent that such
        conveyance is held not to constitute a sale under applicable law, it is intended
        that this Agreement shall constitute a security agreement under applicable
        law
        and that the Seller shall be deemed to have granted to CMSI a first priority
        security interest in all of the Seller's right, title and interest in and
        to the
        mortgage loans.

      

      7.      Notices.  All
        demands, notices and communications hereunder shall be in writing, shall
        be
        effective only upon receipt and shall, if sent to CMSI be addressed to it
        at
        1000 Technology Drive, O’Fallon, Missouri 63368, Attn: Daniel P. Hoffman or if
        sent to Seller be addressed to it at 1000 Technology Drive, O’Fallon, Missouri
        63368, Attn: General Counsel.

      

      8.      Trustee
        Beneficiary.  The representations and agreements made by the
        Seller in this Agreement are made for the benefit of, and may be enforced
        by,
        the Trustee, and the holders of certificates to the same extent that the
        Trustee
        and the holders of certificates, respectively, have rights against CMSI under
        the Pooling Agreement in respect of representations and agreements made by
        CMSI
        therein.

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      

      9.      Cross-Receipt.  The
        Seller, by executing this Agreement below, hereby acknowledges receipt of
        the
        Purchase Price from CMSI.  CMSI, by executing this Agreement below,
        hereby acknowledges receipt of the Mortgage Loans from the Seller.

      

      10.           Miscellaneous.  This
        Agreement shall be governed by and construed in accordance with the laws
        of the
        State of New York.  Neither this Agreement nor any term hereof may be
        changed, waived, discharged or terminated except by a writing signed by the
        party against whom enforcement of such change, waiver, discharge or termination
        is sought.  This Agreement may not be changed in any manner which
        would have a material adverse affect on holders of any class of certificates
        without the prior written consent of the Trustee.  The Trustee shall
        be protected in consenting to any such change to the same extent provided
        in
        section 10 of the Pooling Agreement. This Agreement may be signed in any
        number
        of counterparts, each of which shall be deemed an original, which taken together
        shall constitute one and the same instrument.  This Agreement shall
        bind and inure to the benefit of and be enforceable by CMSI and the Seller
        and
        their respective successors and assigns; provided, however, that
        this Agreement cannot be assigned by either party without the consent of
        the
        other party hereto, and any assignment hereof without such consent shall
        be
        void.

      

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      IN
        WITNESS WHEREOF, CMSI and the Seller have caused this Agreement to be duly
        executed by their respective officers as of the day and year first above
        written.

      

      

      CITIMORTGAGE,
        INC.

      

      

      

      By:                                                      

      Deborah
        A. Snow

      Vice
        President

      

      

      

      CITICORP
        MORTGAGE SECURITIES, INC.

      

      

      

      By:                                                      

      David
        L.
        Hicks

      Assistant
        Vice President

      

      
        
           

        

        
          4Exhibit 4.2

                              GEORGIA POWER COMPANY

                                       TO

                              THE BANK OF NEW YORK,
                                     TRUSTEE

                       TWENTY-NINTH SUPPLEMENTAL INDENTURE

                            DATED AS OF JUNE 12, 2007

                         SERIES 2007B 5.70% SENIOR NOTES

                                DUE JUNE 1, 2017

<PAGE>

                              TABLE OF CONTENTS(1)

                                                                         PAGE

ARTICLE 1.................................................................1

    Series 2007B Senior Notes.............................................1
    SECTION 101.  Establishment...........................................1
    SECTION 102.  Definitions.............................................2
    SECTION 103.  Payment of Principal and Interest.......................3
    SECTION 104.  Denominations...........................................4
    SECTION 105.  Global Securities.......................................4
    SECTION 106.  Transfer................................................4
    SECTION 107.  Redemption at the Company's Option......................5

ARTICLE 2.................................................................5

    Miscellaneous Provisions..............................................5
    SECTION 201.  Recitals by Company.....................................5
    SECTION 202.  Ratification and Incorporation of Original Indenture....5
    SECTION 203.  Executed in Counterparts................................6

EXHIBIT A         Form of Series 2007B Note

EXHIBIT B         Certificate of Authentication

(1)This Table of Contents does not constitute part of the Indenture or have any
bearing upon the interpretation of any of its terms and provisions.

                                       i

<PAGE>

         THIS TWENTY-NINTH SUPPLEMENTAL INDENTURE is made as of the
12th day of June, 2007, by and between GEORGIA POWER COMPANY, a Georgia
corporation, 241 Ralph McGill Boulevard, N.E., Atlanta, Georgia 30308-3374 (the
"Company"), and THE BANK OF NEW YORK, a New York banking corporation, 101
Barclay Street, Floor 8W, New York, New York 10286 (the "Trustee").

                              W I T N E S S E T H:

     WHEREAS, the Company has heretofore entered into a Senior Note Indenture,
dated as of January 1, 1998 (the "Original Indenture"), with The Bank of New
York (as successor to JPMorgan Chase Bank, N.A. (formerly known as The Chase
Manhattan Bank)), as heretofore supplemented;

     WHEREAS, the Original Indenture is incorporated herein by this reference
and the Original Indenture, as heretofore supplemented and as further
supplemented by this Twenty-Ninth Supplemental Indenture, is herein called the
"Indenture";

     WHEREAS, under the Original Indenture, a new series of Senior Notes may at
any time be established by the Board of Directors of the Company in accordance
with the provisions of the Original Indenture and the terms of such series may
be described by a supplemental indenture executed by the Company and the
Trustee;

     WHEREAS, the Company proposes to create under the Indenture a new series of
Senior Notes;

     WHEREAS, additional Senior Notes of other series hereafter established,
except as may be limited in the Original Indenture as at the time supplemented
and modified, may be issued from time to time pursuant to the Indenture as at
the time supplemented and modified; and

     WHEREAS, all conditions necessary to authorize the execution and delivery
of this Twenty-Ninth Supplemental Indenture and to make it a valid and binding
obligation of the Company have been done or performed.

     NOW, THEREFORE, in consideration of the agreements and obligations set
forth herein and for other good and valuable consideration, the sufficiency of
which is hereby acknowledged, the parties hereto hereby agree as follows:

                                    ARTICLE 1

                            Series 2007B Senior Notes

         SECTION 101. Establishment. There is hereby established a new series of
Senior Notes to be issued under the Indenture, to be designated as the Company's
Series 2007B 5.70% Senior Notes due June 1, 2017 (the "Series 2007B Notes").

<PAGE>

         There are to be authenticated and delivered $450,000,000 principal
amount of Series 2007B Notes, and such principal amount of the Series 2007B
Notes may be increased from time to time pursuant to Section 301 of the Original
Indenture. All Series 2007B Notes need not be issued at the same time and such
series may be reopened at any time, without the consent of any Holder, for
issuances of additional Series 2007B Notes. Any such additional Series 2007B
Notes will have the same interest rate, maturity and other terms as those
initially issued. No Series 2007B Notes shall be authenticated and delivered in
excess of the principal amount as so increased except as provided by Sections
203, 303, 304, 907 or 1107 of the Original Indenture. The Series 2007B Notes
shall be issued in definitive fully registered form.

         The Series 2007B Notes shall be issued in the form of one or more
Global Securities in substantially the form set out in Exhibit A hereto. The
Depositary with respect to the Series 2007B Notes shall be The Depository Trust
Company.

         The form of the Trustee's Certificate of Authentication for the Series
2007B Notes shall be in substantially the form set forth in Exhibit B hereto.

         Each Series 2007B Note shall be dated the date of authentication
thereof and shall bear interest from the date of original issuance thereof or
from the most recent Interest Payment Date to which interest has been paid or
duly provided for.

         The Series 2007B Notes will not have a sinking fund.

         SECTION 102. Definitions. The following defined terms used herein
shall, unless the context otherwise requires, have the meanings specified below.
Capitalized terms used herein for which no definition is provided herein shall
have the meanings set forth in the Original Indenture.

         "Comparable Treasury Issue" means the United States Treasury security
selected by an Independent Investment Banker as having a maturity comparable to
the remaining term of the Series 2007B Notes to be redeemed that would be
utilized, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of the Series 2007B Notes.

         "Comparable Treasury Price" means, with respect to any Redemption Date,
(i) the average of the Reference Treasury Dealer Quotations for such Redemption
Date, after excluding the highest and lowest such Reference Treasury Dealer
Quotations, or (ii) if the Company obtains fewer than four such Reference
Treasury Dealer Quotations, the average of all such quotations.

         "Independent Investment Banker" means an independent investment banking
institution of national standing appointed by the Company.

         "Interest Payment Dates" means June 1 and December 1 of each year,
commencing December 1, 2007.

         "Original Issue Date" means June 12, 2007.

                                       2
<PAGE>

         "Reference Treasury Dealer" means a primary United States Government
securities dealer in New York City appointed by the Company.

         "Reference Treasury Dealer Quotation" means, with respect to a
Reference Treasury Dealer and any Redemption Date, the average, as determined by
the Company, of the bid and asked prices for the Comparable Treasury Issue
(expressed in each case as a percentage of its principal amount and quoted in
writing to the Company by such Reference Treasury Dealer at 5:00 p.m. on the
third Business Day in New York City preceding such Redemption Date).

         "Regular Record Date" means, with respect to each Interest Payment
Date, the close of business on the 15th calendar day preceding such Interest
Payment Date (whether or not a Business Day).

         "Stated Maturity" means June 1, 2017.

         "Treasury Yield" means, with respect to any Redemption Date, the rate
per annum equal to the semiannual equivalent yield to maturity of the Comparable
Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as
a percentage of its principal amount) equal to the Comparable Treasury Price for
such Redemption Date.

         SECTION 103. Payment of Principal and Interest. The principal of the
Series 2007B Notes shall be due at Stated Maturity (unless earlier redeemed).
The unpaid principal amount of the Series 2007B Notes shall bear interest at the
rate of 5.70% per annum until paid or duly provided for. Interest shall be paid
semiannually in arrears on each Interest Payment Date to the Person in whose
name the Series 2007B Notes are registered on the Regular Record Date for such
Interest Payment Date, provided that interest payable at the Stated Maturity of
principal or on a Redemption Date as provided herein will be paid to the Person
to whom principal is payable. Any such interest that is not so punctually paid
or duly provided for will forthwith cease to be payable to the Holders on such
Regular Record Date and may either be paid to the Person or Persons in whose
name the Series 2007B Notes are registered at the close of business on a Special
Record Date for the payment of such defaulted interest to be fixed by the
Trustee, notice whereof shall be given to Holders of the Series 2007B Notes not
less than ten (10) days prior to such Special Record Date, or be paid at any
time in any other lawful manner not inconsistent with the requirements of any
securities exchange, if any, on which the Series 2007B Notes shall be listed,
and upon such notice as may be required by any such exchange, all as more fully
provided in the Original Indenture.

         Payments of interest on the Series 2007B Notes will include interest
accrued to but excluding the respective Interest Payment Dates. Interest
payments for the Series 2007B Notes shall be computed and paid on the basis of a
360-day year of twelve 30-day months. In the event that any date on which
interest is payable on the Series 2007B Notes is not a Business Day, then
payment of the interest payable on such date will be made on the next succeeding
day that is a Business Day (and without any interest or other payment in respect
of any such delay), with the same force and effect as if made on the date the
payment was originally payable.

                                       3
<PAGE>

         Payment of the principal and interest due at the Stated Maturity or
earlier redemption of the Series 2007B Notes shall be made upon surrender of the
Series 2007B Notes at the Corporate Trust Office of the Trustee. The principal
of and interest on the Series 2007B Notes shall be paid 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. Payments of interest (including interest on
any Interest Payment Date) will be made, subject to such surrender where
applicable, at the option of the Company, (i) by check mailed to the address of
the Person entitled thereto as such address shall appear in the Security
Register or (ii) by wire transfer or other electronic transfer at such place and
to such account at a banking institution in the United States as may be
designated in writing to the Trustee at least sixteen (16) days prior to the
date for payment by the Person entitled thereto.

         SECTION 104. Denominations. The Series 2007B Notes may be issued in
denominations of $1,000, or any integral multiple thereof.

         SECTION 105. Global Securities. The Series 2007B Notes will be issued
in the form of one or more Global Securities registered in the name of the
Depositary (which shall be The Depository Trust Company) or its nominee. Except
under the limited circumstances described below, Series 2007B Notes represented
by one or more Global Securities will not be exchangeable for, and will not
otherwise be issuable as, Series 2007B Notes in definitive form. The Global
Securities described above may not be transferred except by the Depositary to a
nominee of the Depositary or by a nominee of the Depositary to the Depositary or
another nominee of the Depositary or to a successor Depositary or its nominee.

         Owners of beneficial interests in such a Global Security will not be
considered the Holders thereof for any purpose under the Indenture, and no
Global Security representing a Series 2007B Note shall be exchangeable, except
for another Global Security of like denomination and tenor to be registered in
the name of the Depositary or its nominee or to a successor Depositary or its
nominee. The rights of Holders of such Global Security shall be exercised only
through the Depositary.

         Subject to the procedures of the Depositary, a Global Security shall be
exchangeable for Series 2007B Notes registered in the names of persons other
than the Depositary or its nominee only if (i) the Depositary notifies the
Company that it is unwilling or unable to continue as a Depositary for such
Global Security and no successor Depositary shall have been appointed by the
Company, or if at any time the Depositary ceases to be a clearing agency
registered under the Securities Exchange Act of 1934, as amended, at a time when
the Depositary is required to be so registered to act as such Depositary and no
successor Depositary shall have been appointed by the Company, in each case
within 90 days after the Company receives such notice or becomes aware of such
cessation, (ii) the Company in its sole discretion determines that such Global
Security shall be so exchangeable, or (iii) there shall have occurred an Event
of Default with respect to the Series 2007B Notes. Any Global Security that is
exchangeable pursuant to the preceding sentence shall be exchangeable for Series
2007B Notes registered in such names as the Depositary shall direct.

         SECTION 106. Transfer. No service charge will be made for any transfer
or exchange of Series 2007B Notes, but payment will be required of a sum
sufficient to cover any tax or other governmental charge that may be imposed in
connection therewith.

                                       4
<PAGE>

         The Company shall not be required (a) to issue, transfer or exchange
any Series 2007B Notes during a period beginning at the opening of business
fifteen (15) days before the date of the mailing of a notice pursuant to Section
1104 of the Original Indenture identifying the serial numbers of the Series
2007B Notes to be called for redemption, and ending at the close of business on
the day of the mailing, or (b) to issue, transfer or exchange any Series 2007B
Notes theretofore selected for redemption in whole or in part, except the
unredeemed portion of any Series 2007B Notes redeemed in part.

         SECTION 107. Redemption at the Company's Option. The Series 2007B Notes
will be subject to redemption at the option of the Company, in whole or in part,
at any time and from time to time, upon not less than 30 nor more than 60 days'
notice, at a redemption price (the "Redemption Price") equal to the greater of
(1) 100% of the principal amount of the Series 2007B Notes to be redeemed or (2)
the sum of the present values of the remaining scheduled payments of principal
and interest on the Series 2007B Notes being redeemed discounted (for purposes
of determining present value) to the Redemption Date on a semiannual basis
(assuming a 360-day year consisting of twelve 30-day months) at a discount rate
equal to the Treasury Yield plus 15 basis points, plus, in each case, accrued
interest thereon to the date of redemption.

         In the event of redemption of the Series 2007B Notes in part only, a
new Series 2007B Note or Notes for the unredeemed portion will be issued in the
name or names of the Holders thereof upon the surrender thereof.

         Notice of redemption shall be given as provided in Section 1104 of the
Original Indenture except that any notice of redemption shall not specify the
Redemption Price but only the manner of calculation thereof. The Trustee shall
not be responsible for the calculation of the Redemption Price. The Company
shall calculate the Redemption Price and promptly notify the Trustee thereof.

         Any redemption of less than all of the Series 2007B Notes shall, with
respect to the principal thereof, be divisible by $1,000.

                                    ARTICLE 2

                            Miscellaneous Provisions

         SECTION 201. Recitals by Company. The recitals in this Twenty-Ninth
Supplemental Indenture are made by the Company only and not by the Trustee, and
all of the provisions contained in the Original Indenture in respect of the
rights, privileges, immunities, powers and duties of the Trustee shall be
applicable in respect of Series 2007B Notes and of this Twenty-Ninth
Supplemental Indenture as fully and with like effect as if set forth herein in
full.

         SECTION 202. Ratification and Incorporation of Original Indenture. As
heretofore supplemented and as supplemented hereby, the Original Indenture is in
all respects ratified and confirmed, and the Original Indenture as heretofore
supplemented and as supplemented by this Twenty-Ninth Supplemental Indenture
shall be read, taken and construed as one and the same instrument.

                                       5
<PAGE>

         SECTION 203. Executed in Counterparts. This Twenty-Ninth Supplemental
Indenture may be simultaneously executed in several counterparts, each of which
shall be deemed to be an original, and such counterparts shall together
constitute but one and the same instrument.

                                       6
<PAGE>

         IN WITNESS WHEREOF, each party hereto has caused this
instrument to be signed in its name and behalf by its duly authorized officers,
all as of the day and year first above written.

ATTEST:                           GEORGIA POWER COMPANY

By:      /s/Daniel Lowery         By:      /s/Cliff S. Thrasher
   ----------------------------      -------------------------------------------
         Daniel Lowery                     Cliff S. Thrasher
         Corporate Secretary               Executive Vice President,
                                           Chief Financial Officer and Treasurer

ATTEST:                          THE BANK OF NEW YORK, as Trustee

By:    /s/Robert A. Massimillo    By:       /s/Van K. Brown
   ----------------------------      -----------------------------------------
         Robert A. Massimillo              Van K. Brown
         Vice President                    Vice President

                                       7
<PAGE>

                                    EXHIBIT A

                            FORM OF SERIES 2007B NOTE

                                       8
<PAGE>

NO. ___                                                    CUSIP NO. 373334 GE5

                              GEORGIA POWER COMPANY
                         SERIES 2007B 5.70% SENIOR NOTE
                                DUE JUNE 1, 2017

       Principal Amount:                      $__________________

       Regular Record Date:                   15th  calendar day prior to
                                              Interest  Payment  Date  (whether
                                              or not a Business Day)

       Original Issue Date:                   June 12, 2007

       Stated Maturity:                       June 1, 2017

       Interest Payment Dates:                June 1 and December 1

       Interest Rate:                         5.70% per annum

       Authorized Denominations:              $1,000 or any integral multiple
                                              thereof

         Georgia Power Company, a Georgia corporation (the "Company", which term
includes any successor corporation under the Indenture referred to on the
reverse hereof), for value received, hereby promises to pay to ______________,
or registered assigns, the principal sum of ______________ DOLLARS ($_________)
on the Stated Maturity shown above (or upon earlier redemption), and to pay
interest thereon from the Original Issue Date shown above, or from the most
recent Interest Payment Date to which interest has been paid or duly provided
for, semiannually in arrears on each Interest Payment Date as specified above,
commencing on December 1, 2007, and on the Stated Maturity (or upon earlier
redemption) at the rate per annum shown above until the principal hereof is paid
or made available for payment and at such rate on any overdue principal and on
any overdue installment of interest. The interest so payable, and punctually
paid or duly provided for, on any Interest Payment Date (other than an Interest
Payment Date that is the Stated Maturity or on a Redemption Date) will, as
provided in such Indenture, be paid to the Person in whose name this Note (the
"Note") is registered at the close of business on the Regular Record Date as
specified above next preceding such Interest Payment Date, provided that any
interest payable at the Stated Maturity or on any Redemption Date will be paid
to the Person to whom principal is payable. Except as otherwise provided in the
Indenture, any such interest not so punctually paid or duly provided for will
forthwith cease to be payable to the Holder on such Regular Record Date and may
either be paid to the Person in whose name this Note is registered at the close
of business on a Special Record Date for the payment of such defaulted interest
to be fixed by the Trustee, notice whereof shall be given to Holders of Notes of
this series not less than 10 days prior to such Special Record Date, or be paid
at any time in any other lawful manner not inconsistent with the requirements of

<PAGE>

any securities exchange, if any, on which the Notes of this series shall be
listed, and upon such notice as may be required by any such exchange, all as
more fully provided in the Indenture.

         Payments of interest on this Note will include interest accrued to but
excluding the respective Interest Payment Dates. Interest payments for this Note
shall be computed and paid on the basis of a 360-day year of twelve 30-day
months. In the event that any date on which interest is payable on this Note is
not a Business Day, then payment of the interest payable on such date will be
made on the next succeeding day that is a Business Day (and without any interest
or other payment in respect of any such delay), with the same force and effect
as if made on the date the payment was originally payable. A "Business Day"
shall mean any day other than a Saturday or a Sunday or a day on which banking
institutions in New York City are authorized or required by law or executive
order to remain closed or a day on which the Corporate Trust Office of the
Trustee is closed for business.

         Payment of the principal of and interest due at the Stated Maturity or
earlier redemption of the Series 2007B Notes shall be made upon surrender of the
Series 2007B Notes at the Corporate Trust Office of the Trustee. The principal
of and interest on the Series 2007B Notes shall be paid 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. Payment of interest (including interest on
an Interest Payment Date) will be made, subject to such surrender where
applicable, at the option of the Company, (i) by check mailed to the address of
the Person entitled thereto as such address shall appear in the Security
Register or (ii) by wire transfer or other electronic transfer at such place and
to such account at a banking institution in the United States as may be
designated in writing to the Trustee at least 16 days prior to the date for
payment by the Person entitled thereto.

         REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS NOTE SET
FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES
HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE.

         Unless the certificate of authentication hereon has been executed by
the Trustee by manual signature, this Note shall not be entitled to any benefit
under the Indenture or be valid or obligatory for any purpose.

                                       2

<PAGE>

         IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed under its corporate seal.

Dated:

                                   GEORGIA POWER COMPANY

                                   By:
                                      -----------------------------------------
                                   Title:

Attest:

Title:

               {Seal of GEORGIA POWER COMPANY appears here}

<PAGE>

                          CERTIFICATE OF AUTHENTICATION

         This is one of the Senior Notes referred to in the within-mentioned
Indenture.

                                           THE BANK OF NEW YORK,
                                           as Trustee

                                           By:
                                              ---------------------------------
                                                    Authorized Signatory

                                       4
<PAGE>

                             (Reverse Side of Note)

         This Note is one of a duly authorized issue of Senior Notes of the
Company (the "Notes"), issued and issuable in one or more series under a Senior
Note Indenture, dated as of January 1, 1998, as supplemented (the "Indenture"),
between the Company and The Bank of New York (as successor to JPMorgan Chase
Bank, N.A. (formerly known as The Chase Manhattan Bank)), as Trustee (the
"Trustee," which term includes any successor trustee under the Indenture), to
which Indenture and all indentures incidental thereto reference is hereby made
for a statement of the respective rights, limitation of rights, duties and
immunities thereunder of the Company, the Trustee and the Holders of the Notes
issued thereunder and of the terms upon which said Notes are, and are to be,
authenticated and delivered. This Note is one of the series designated on the
face hereof as Series 2007B 5.70% Senior Notes due June 1, 2017 (the "Series
2007B Notes") which is unlimited in aggregate principal amount. Capitalized
terms used herein for which no definition is provided herein shall have the
meanings set forth in the Indenture.

         The Series 2007B Notes will be subject to redemption at the option of
the Company in whole or in part, at any time and from time to time, upon not
less than 30 nor more than 60 days' notice at a redemption price (the
"Redemption Price") equal to the greater of (i) 100% of the principal amount of
the Series 2007B Notes to be redeemed or (ii) the sum of the present values of
the remaining scheduled payments of principal and interest on the Series 2007B
Notes being redeemed discounted (for purposes of determining present value) to
the Redemption Date on a semiannual basis (assuming a 360-day year consisting of
twelve 30-day months) at a discount rate equal to the Treasury Yield plus 15
basis points, plus, in each case, accrued interest thereon to the Redemption
Date.

         "Treasury Yield" means, with respect to any Redemption Date, the rate
per annum equal to the semiannual equivalent yield to maturity of the Comparable
Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as
a percentage of its principal amount) equal to the Comparable Treasury Price for
such Redemption Date.

         "Comparable Treasury Issue" means the United States Treasury security
selected by an Independent Investment Banker as having a maturity comparable to
the remaining term of the Series 2007B Notes to be redeemed that would be
utilized, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of the Series 2007B Notes.

         "Comparable Treasury Price" means, with respect to any Redemption Date,
(i) the average of the Reference Treasury Dealer Quotations for such Redemption
Date, after excluding the highest and lowest such Reference Treasury Dealer
Quotations, or (ii) if the Company obtains fewer than four such Reference
Treasury Dealer Quotations, the average of all such quotations.

         "Independent Investment Banker" means an independent investment banking
institution of national standing appointed by the Company.

         "Reference Treasury Dealer" means a primary United States Government
securities dealer in New York City appointed by the Company.

                                       5
<PAGE>

         "Reference Treasury Dealer Quotation" means, with respect to a
Reference Treasury Dealer and any Redemption Date, the average, as determined by
the Company, of the bid and asked prices for the Comparable Treasury Issue
(expressed in each case as a percentage of its principal amount and quoted in
writing to the Company by such Reference Treasury Dealer at 5:00 p.m. on the
third Business Day in New York City preceding such Redemption Date).

         The Trustee shall not be responsible for the calculation of the
Redemption Price. The Company shall calculate the Redemption Price and promptly
notify the Trustee thereof.

         In the event of redemption of this Note in part only, a new Note or
Notes of this series for the unredeemed portion hereof will be issued in the
name of the Holder hereof upon the surrender hereof.

         The Series 2007B Notes will not have a sinking fund.

         If an Event of Default with respect to the Notes of this series shall
occur and be continuing, the principal of the Notes of this series may be
declared due and payable in the manner, with the effect and subject to the
conditions provided in the Indenture.

         The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Notes of each series to be affected
under the Indenture at any time by the Company and the Trustee with the consent
of the Holders of not less than a majority in principal amount of the Notes at
the time Outstanding of each series to be affected. The Indenture also contains
provisions permitting the Holders of specified percentages in principal amount
of the Notes of each series at the time Outstanding, on behalf of the Holders of
all Notes of such series, to waive compliance by the Company with certain
provisions of the Indenture and certain past defaults under the Indenture and
their consequences. Any such consent or waiver by the Holder of this Note shall
be conclusive and binding upon such Holder and upon all future Holders of this
Note and of any Note issued upon the registration of transfer hereof or in
exchange hereof or in lieu hereof, whether or not notation of such consent or
waiver is made upon this Note.

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

         As provided in the Indenture and subject to certain limitations therein
set forth, the transfer of this Note is registrable in the Security Register,
upon surrender of this Note for registration of transfer at the office or agency
of the Company for such purpose, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Company and the Security
Registrar and duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Notes of this series, of
authorized denominations and of like tenor and for the same aggregate principal
amount, will be issued to the designated transferee or transferees. No service
charge shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.

                                       6
<PAGE>

         Prior to due presentment of this Note for registration of transfer, the
Company, the Trustee and any agent of the Company or the Trustee may treat the
Person in whose name this Note is registered as the owner hereof for all
purposes, whether or not this Note be overdue, and neither the Company, the
Trustee nor any such agent shall be affected by notice to the contrary.

         The Notes of this series are issuable only in registered form without
coupons in denominations of $1,000 and any integral multiple thereof. As
provided in the Indenture and subject to certain limitations therein set forth,
Notes of this series are exchangeable for a like aggregate principal amount of
Notes of this series of a different authorized denomination, as requested by the
Holder surrendering the same upon surrender of the Note or Notes to be exchanged
at the office or agency of the Company.

         This Note shall be governed by, and construed in accordance with, the
internal laws of the State of New York.

                                       7
<PAGE>

                                  ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this
instrument, shall be construed as though they were written out in full according
to applicable laws or regulations:

TEN COM- as tenants in             UNIF GIFT MIN ACT- _______ Custodian ________
                  common                               (Cust)            (Minor)
TEN ENT- as tenants by the
                  entireties                      under Uniform Gifts to
JT TEN-  as joint tenants                         Minors Act
                  with right of
                  survivorship and                    ________________________
                  not as tenants                              (State)
                  in common

                    Additional abbreviations may also be used
                          though not on the above list.

         FOR VALUE RECEIVED, the undersigned hereby sell(s) and transfer(s) unto

(please insert Social Security or other identifying number of assignee)

PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE OF
ASSIGNEE

the within Note and all rights thereunder, hereby irrevocably constituting and
appointing

agent to transfer said Note on the books of the Company, with full power of
substitution in the premises.

Dated:
       --------------------                 ----------------------------------

NOTICE: The signature to this assignment must correspond with the name as
written upon the face of the within instrument in every particular without
alteration or enlargement, or any change whatever.

                                       8
<PAGE>

                                    EXHIBIT B

                          CERTIFICATE OF AUTHENTICATION

         This is one of the Senior Notes referred to in the within-mentioned
Indenture.

                                     THE BANK OF NEW YORK,
                                     as Trustee

                                     By:
                                        -----------------------------------
                                              Authorized Signatory

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