Document:

NSPM  Exhibit 4.01 Aug. 2015

Exhibit 4.01

SUPPLEMENTAL TRUST INDENTURE
FROM
NORTHERN STATES POWER COMPANY
(A MINNESOTA CORPORATION)
TO
THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.
DATED AUGUST 1, 2015
SUPPLEMENTAL TO TRUST INDENTURE
DATED FEBRUARY 1, 1937
AND
SUPPLEMENTAL AND RESTATED
TRUST INDENTURE
DATED MAY 1, 1988

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TABLE OF CONTENTS

	
				
	 
	 
	Page
	

	 
	 
	 

	ARTICLE I.
	SPECIFIC SUBJECTION OF ADDITIONAL PROPERTY TO THE LIEN OF THE INDENTURE
	10
	

	Section 1.01
	   
	10
	

	 
	 
	 

	ARTICLE II.
	FORM AND EXECUTION OF SERIES 2020 BONDS AND 2045 BONDS
	12
	

	Section 2.01
	  
	12
	

	Section 2.02
	    
	14
	

	Section 2.03
	     
	15
	

	Section 2.04
	      
	17
	

	Section 2.05
	    
	18
	

	Section 2.06
	   
	18
	

	Section 2.07
	  
	18
	

	 
	 
	 

	ARTICLE III.
	APPOINTMENT OF AUTHENTICATING AGENT
	21
	

	Section 3.01
	  
	21
	

	Section 3.02
	 
	21
	

	Section 3.03
	 
	22
	

	Section 3.04
	 
	23
	

	 
	 
	 

	ARTICLE IV.
	FINANCING STATEMENT TO COMPLY WITH THE UNIFORM COMMERCIAL CODE
	23
	

	Section 4.01
	 
	23
	

	Section 4.02
	 
	23
	

	Section 4.03
	 
	23
	

	Section 4.04
	 
	24
	

	Section 4.05
	 
	24
	

	Section 4.06
	 
	26
	

	 
	 
	 

	ARTICLE V.
	MISCELLANEOUS
	26
	

	Section 5.01
	 
	26
	

	Section 5.02
	 
	26
	

	Section 5.03
	 
	26
	

	Section 5.04
	 
	27
	

	Section 5.05
	 
	27
	

    

	
			
	NAI-1500432715
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TABLE OF CONTENTS
(continued)

	
				
	 
	 
	Page
	

	 
	 
	 

	Section 5.06
	 
	27
	

	
			
	NAI-1500432715v5 
	ii
	 

Supplemental Trust Indenture, made effective as of the 1st day of August, 2015, by and between NORTHERN STATES POWER COMPANY (formerly Northern Power Corporation), a corporation duly organized and existing under and by virtue of the laws of the State of Minnesota, having its principal office in the City of Minneapolis, Minnesota (the “Company”), party of the first part, and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking association organized and existing under and by virtue of the laws of the United States, having a corporate trust office in the City of Chicago, Illinois (as successor trustee to Harris Trust and Savings Bank and BNY Midwest Trust Company), as trustee (the “Trustee”), party of the second part;
WITNESSETH:
WHEREAS, a predecessor in interest to the Company, Xcel Energy Inc. (formerly Northern States Power Company), a corporation duly organized and existing under and by virtue of the laws of the State of Minnesota (the “Predecessor Company”) has heretofore executed and delivered to the Trustee its Trust Indenture (the “1937 Indenture”), made as of February 1, 1937, whereby the Predecessor Company granted, bargained, sold, warranted, released, conveyed, assigned, transferred, mortgaged, pledged, set over and confirmed to the Trustee and to its respective successors in trust, all property, real, personal and mixed then-owned or thereafter acquired or to be acquired by the Predecessor Company (except as therein excepted from the lien thereof) and subject to the rights reserved by the Predecessor Company in and by the provisions of the 1937 Indenture, to be held by said Trustee in trust in accordance with the provisions of the 1937 Indenture for the equal pro rata benefit and security of all and each of the bonds issued and to be issued thereunder in accordance with the provisions thereof; and
WHEREAS, the Predecessor Company heretofore has executed and delivered to the Trustee a Supplemental Trust Indenture, made as of June 1, 1942, whereby the Predecessor Company conveyed, assigned, transferred, mortgaged, pledged, set over and confirmed to the Trustee, and its respective successors in said trust, additional property acquired by it subsequent to the date of the 1937 Indenture; and
WHEREAS, the Predecessor Company heretofore has executed and delivered to the Trustee the following additional Supplemental Trust Indentures which, in addition to conveying, assigning, transferring, mortgaging, pledging, setting over and confirming to the Trustee, and its respective successors in said trust, additional property acquired by it subsequent to the preparation of the next preceding Supplemental Trust Indenture and adding to the covenants, conditions and agreements of the 1937 Indenture certain additional covenants, conditions and agreements to be observed by the Predecessor Company, created the following series of First Mortgage Bonds:
	
			
	Date of Supplemental 
Trust Indenture
	 
	Designation of Series

	February 1, 1944
	 
	Series due February 1, 1974 (retired)

	October 1, 1945
	 
	Series due October 1, 1975 (retired)

	July 1, 1948
	 
	Series due July 1, 1978 (retired)

	August 1, 1949
	 
	Series due August 1, 1979 (retired)

	June 1, 1952
	 
	Series due June 1, 1982 (retired)

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	Date of Supplemental
Trust Indenture
	 
	Designation of Series

	October 1, 1954
	 
	Series due October 1, 1984 (retired)

	September 1, 1956
	 
	Series due 1986 (retired)

	August 1, 1957
	 
	Series due August 1, 1987 (redeemed)

	July 1, 1958
	 
	Series due July 1, 1988 (retired)

	December 1, 1960
	 
	Series due December 1, 1990 (retired)

	August 1, 1961
	 
	Series due August 1, 1991 (retired)

	June 1, 1962
	 
	Series due June 1, 1992 (retired)

	September 1, 1963
	 
	Series due September 1, 1993 (retired)

	August 1, 1966
	 
	Series due August 1, 1996 (redeemed)

	June 1, 1967
	 
	Series due June 1, 1995 (redeemed)

	October 1, 1967
	 
	Series due October 1, 1997 (redeemed)

	May 1, 1968
	 
	Series due May 1, 1998 (redeemed)

	October 1, 1969
	 
	Series due October 1, 1999 (redeemed)

	February 1, 1971
	 
	Series due March 1, 2001 (redeemed)

	May 1, 1971
	 
	Series due June 1, 2001 (redeemed)

	February 1, 1972
	 
	Series due March 1, 2002 (redeemed)

	January 1, 1973
	 
	Series due February 1, 2003 (redeemed)

	January 1, 1974
	 
	Series due January 1, 2004 (redeemed)

	September 1, 1974
	 
	Pollution Control Series A (redeemed)

	April 1, 1975
	 
	Pollution Control Series B (redeemed)

	May 1, 1975
	 
	Series due May 1, 2005 (redeemed)

	March 1, 1976
	 
	Pollution Control Series C (retired)

	June 1, 1981
	 
	Pollution Control Series D, E and F (redeemed)

	December 1, 1981
	 
	Series due December 1, 2011 (redeemed)

	May 1, 1983
	 
	Series due May 1, 2013 (redeemed)

	December 1, 1983
	 
	Pollution Control Series G (redeemed)

	September 1, 1984
	 
	Pollution Control Series H (redeemed)

	December 1, 1984
	 
	Resource Recovery Series I (redeemed)

	May 1, 1985
	 
	Series due June 1, 2015 (redeemed)

	September 1, 1985
	 
	Pollution Control Series J, K and L (redeemed)

	July 1, 1989
	 
	Series due July 1, 2019 (redeemed)

	June 1, 1990
	 
	Series due June 1, 2020 (redeemed)

	October 1, 1992
	 
	Series due October 1, 1997 (retired)

	April 1, 1993
	 
	Series due April 1, 2003 (retired)

	December 1, 1993
	 
	Series due December 1, 2000 (retired), and December 1, 2005 (retired)

	February 1, 1994
	 
	Series due February 1, 1999 (retired)

	October 1, 1994
	 
	Series due October 1, 2001 (retired)

	June 1, 1995
	 
	Series due July 1, 2025

	April 1, 1997
	 
	Pollution Control Series M (redeemed), N (redeemed), O (redeemed) and P (redeemed)

	March 1, 1998
	 
	Series due March 1, 2003 (retired), and March 1, 2028

	May 1, 1999
	 
	Resource Recovery Series Q (retired)

	June 1, 2000
	 
	Resource Recovery Series R (retired); and

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WHEREAS, on August 18, 2000, New Centuries Energies, Inc. was merged with and into the Predecessor Company and the Predecessor Company changed its corporate name from Northern States Power Company to Xcel Energy Inc.; and
WHEREAS, pursuant to an Assignment and Assumption Agreement dated as of August 18, 2000 between the Predecessor Company and the Company, substantially all the assets of the Predecessor Company (other than the stock of the Predecessor Company’s subsidiaries) were conveyed to, and substantially all the liabilities of the Predecessor Company, including liabilities created under the Indenture (as hereinafter defined), were assumed by, the Company (the “Assignment”); and
WHEREAS, pursuant to the Supplemental Trust Indenture dated as of August 1, 2000 among the Predecessor Company, the Company and Harris Trust and Savings Bank, as trustee, the requirements and conditions precedent set forth in the Original Indenture and the Restated Indenture (each as hereinafter defined) with respect to the Assignment were satisfied; and
WHEREAS, the Company heretofore has executed and delivered to the Trustee the following additional Supplemental Trust Indentures, which, in addition to conveying, assigning, transferring, mortgaging, pledging, setting over and confirming to the Trustee, and its respective successors in said trust, additional property acquired by it (or, as the case may be, the Predecessor Company) subsequent to the preparation of the next preceding Supplemental Trust Indenture and adding to the covenants, conditions and agreements of the 1937 Indenture certain additional covenants, conditions and agreements to be observed by the Company, created the following series of First Mortgage Bonds:
	
		
	Date of Supplemental 
Trust Indenture
	Designation of Series

	June 1, 2002
	Series due August 15, 2003 (retired)

	July 1, 2002
	Pollution Control Series S (redeemed)

	August 1, 2002
	Series A and Series B due August 28, 2012 (retired)

	May 1, 2003
	Series due 2004, extendible through 2006 (retired)

	August 1, 2003
	Series due August 1, 2006 (retired) and Series due August 1, 2010 (retired)

	July 1, 2005
	Series due July 15, 2035

	May 1, 2006
	Series due June 1, 2036

	June 1, 2007
	Series due July 1, 2037

	March 1, 2008
	Series due March 1, 2018

	November 1, 2009
	Series due November 1, 2039

	August 1, 2010
	Series due August 15, 2015 and Series due August 15, 2040

	August 1, 2012
	Series due August 15, 2022 and Series due August 15, 2042

	May 1, 2013
	Series due May 15, 2023

	May 1, 2014
	Series due May 15, 2044

WHEREAS, the 1937 Indenture and all of the foregoing Supplemental Trust Indentures are referred to herein collectively as the “Original Indenture”; and

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WHEREAS, the Predecessor Company heretofore has executed and delivered to the Trustee a Supplemental and Restated Trust Indenture, dated May 1, 1988 which was recorded in the property records in various counties as set forth in Schedule B attached hereto (the “Restated Indenture”), which, in addition to conveying, assigning, transferring, mortgaging, pledging, setting over and confirming to the Trustee, and its respective successors in said trust, additional property acquired by it subsequent to the preparation of the next preceding Supplemental Trust Indenture, amended and restated the Original Indenture (except for those Supplemental Trust Indentures executed after May 1, 1988); and
WHEREAS, the Restated Indenture became effective and operative on July 20, 2005; and
WHEREAS, the Original Indenture, the Restated Indenture and all trust indentures supplemental thereto are referred to herein collectively as the “Indenture”; and
WHEREAS, pursuant to the Agreement of Resignation, Appointment and Acceptance dated as of May 1, 2002 among the Company, BNY Midwest Trust Company, as successor trustee, and Harris Trust and Savings Bank, BNY Midwest Trust Company accepted the rights, powers, duties and obligations of the trustee under the Indenture effective as of May 9, 2002; and
WHEREAS, pursuant to the Transfer and Assumption Agreement dated as of January 1, 2007 between BNY Midwest Trust Company and The Bank of New York Trust Company, N.A. (currently known as The Bank of New York Mellon Trust Company, N.A.), The Bank of New York Trust Company, N.A. accepted the rights, titles and interests of the trustee under the Indenture effective as of January 1, 2007; and
WHEREAS, the Indenture provides that bonds may be issued thereunder in one or more series, each series to have such distinctive designation as the Board of Directors of the Company may select for such series; and
WHEREAS, the Company is desirous of providing for the creation of (a) a new series of First Mortgage Bonds, said new series of bonds to be designated “First Mortgage Bonds, Series due August 15, 2020” (the “Series 2020 Bonds”) and (b) a new series of First Mortgage Bonds, said new series of bonds to be designated “First Mortgage Bonds, Series due August 15, 2045” (the “Series 2045 Bonds” and, collectively with the Series 2020 Bonds, the “Bonds”) the bonds of each series to be issued as registered bonds without coupons in denominations of a multiple of $1,000 and integral multiples in excess thereof, and the bonds of each series to be substantially in the form and of the tenor following with the redemption prices inserted therein in conformity with the provisions of Section 2.03 hereof, to-wit:
(Form of Series 2020 and Series 2045 Bonds)

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 NORTHERN STATES POWER COMPANY 
(Incorporated under the laws of the State of Minnesota) 
 
First Mortgage Bond 
Series due August 15, [2020]**[2045]***
	
		
	No. _______________
	$________________

	 
	 

[Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation, to the Company or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or such other name as is requested by an authorized representative of The Depository Trust Company (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of The Depository Trust Company), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner hereof, Cede & Co., has an interest herein.]*
NORTHERN STATES POWER COMPANY, a corporation organized and existing under the laws of the State of Minnesota (the “Company”), for value received, hereby promises to pay to Cede & Co. or its registered assigns, at the office of the Trustee, in the City of Chicago, Illinois, or, at the option of the registered owner, at the agency of the Company in the Borough of Manhattan, City and State of New York, an amount equal to [_____________] Dollars in lawful money of the United States of America, on the 15th day of August, [2020]** [2045]*** and to pay interest hereon from the date hereof at the rate of [2.20]** [4.00]*** percent per annum, in like money, until the Company’s obligation with respect to the payment of such principal sum shall be discharged; said interest being payable at the option of the person entitled to such interest either at the office of the Trustee, in Chicago, Illinois, or at the agency of the Company in the Borough of Manhattan, City and State of New York, on the 15th day of February and on the 15th day of August in each year, commencing on February 15, 2016 provided that as long as there is no existing default in the payment of interest and except for the payment of defaulted interest, the interest payable on any February 15 or August 15 will be paid to the person in whose name this bond was registered at the close of business on the record date (the February 1 prior to such February 15 or the August 1 prior to such August 15 (whether or not a business day)).  If any interest payment date or date on which the principal of this bond is required to be paid is not a business day, then payment of principal, premium or interest need not be made on such date but may be made on the next succeeding business day with the same force and effect as if made on such interest payment date or date on which the principal of this bond is required to be paid and, in the case of timely payment thereof, no interest shall accrue for the period from and after such interest payment date or the date on which the principal of this bond is required to be paid.  The term “business day” shall mean any day other than a Saturday or Sunday or a day on which the offices of the Trustee in the City of Chicago, Illinois, are closed pursuant to authorization of law.	
			
	 
	 
	 

	 
	*This legend to be included if the bonds are issued as a global bond in book-entry form.

	 
	** To be inserted in Series 2020 Bonds.

	 
	*** To be inserted in Series 2045 Bonds.

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[EXCEPT UNDER THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, THIS GLOBAL BOND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE REGISTERED DEPOSITORY OR BY A NOMINEE OF THE REGISTERED DEPOSITORY TO THE REGISTERED DEPOSITORY, ANOTHER NOMINEE OF THE REGISTERED DEPOSITORY, A SUCCESSOR OF THE REGISTERED DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR.] *
This bond is one of a duly authorized issue of bonds of the Company, of the series and designation indicated on the face hereof, which issue of bonds consists, or may consist, of several series of varying denominations, dates and tenor, all issued and to be issued under and equally secured (except insofar as a sinking fund, or similar fund, established in accordance with the provisions of the Indenture may afford additional security for the bonds of any specific series) by a Trust Indenture dated February 1, 1937 (the “1937 Indenture”), as supplemented by 64 supplemental trust indentures (collectively, the “Supplemental Indentures”), a Supplemental and Restated Trust Indenture dated May 1, 1988 (the “Restated Indenture”) and a new supplemental trust indenture for the bonds of this series (the “Supplemental Trust Indenture”), executed by the Company to THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. (as successor trustee to Harris Trust and Savings Bank and BNY Midwest Trust Company), as trustee (the “Trustee”).  The 1937 Indenture, as supplemented by the Supplemental Indentures, the Restated Indenture and the Supplemental Trust Indenture, is referred to herein as the “Indenture.” The Restated Indenture amends and restates the 1937 Indenture and certain of the Supplemental Indentures and became effective and operative on July 20, 2005.  Reference hereby is made to the Indenture for a description of the property mortgaged and pledged, the nature and extent of the security, the rights of the holders of the bonds as to such security and the terms and conditions upon which the bonds may be issued under the Indenture and are secured.  The principal hereof may be declared or may become due on the conditions, in the manner and at the time set forth in the Indenture upon the happening of a default as provided in the Indenture.
With the consent of the Company and to the extent permitted by and as provided in the Indenture, the rights and obligations of the Company and of the holders of the bonds and the terms and provisions of the Indenture and of any instruments supplemental thereto may be modified or altered by affirmative vote of the holders of at least 66 2/3% in principal amount of the bonds then outstanding under the Indenture and any instruments supplemental thereto (excluding bonds challenged and disqualified from voting by reason of the Company’s interest therein as provided in the Indenture); provided that without the consent of all holders of all bonds affected no such modification or alteration shall permit the extension of the maturity of the principal of any bond or the reduction in the rate of interest thereon or any other modification in the terms of payment of such principal or interest.
The Company and the Trustee may deem and treat the person in whose name this bond is registered as the absolute owner hereof for the purpose of receiving payment and for all other purposes and shall not be affected by any notice to the contrary.
[At any time prior to July 15, 2020, the Company may redeem the bonds of this series, in whole or in part, at a redemption price equal to the greater of (i) 100% of the principal amount of	
			
	 
	 
	 

	 
	* This legend to be included if the bonds are issued as a global bond in book-entry form.

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such bonds of this series being redeemed or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the bonds of this series being redeemed that would be due if such bonds matured on July 15, 2020 (excluding the portion of any such accrued and unpaid interest to but excluding the date fixed for redemption), discounted to the date fixed for redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Yield (as defined below) plus 10 basis points, plus, in each case, accrued and unpaid interest thereon to but excluding the date fixed for redemption.  At any time on or after July 15, 2020, the Company may redeem, in whole or in part, the bonds of this series at 100% of the principal amount of such bonds being redeemed plus accrued and unpaid interest thereon to but excluding the date fixed for redemption.]**
[At any time prior to February 15, 2045, the Company may redeem the bonds of this series, in whole or in part, at a redemption price equal to the greater of (i) 100% of the principal amount of such bonds of this series being redeemed or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the bonds of this series being redeemed that would be due if such bonds matured on February 15, 2045 (excluding the portion of any such accrued and unpaid interest to but excluding the date fixed for redemption), discounted to the date fixed for redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Yield (as defined below) plus 20 basis points, plus, in each case, accrued and unpaid interest thereon to but excluding the date fixed for redemption.  At any time on or after February 15, 2045, the Company may redeem, in whole or in part, the bonds of this series at 100% of the principal amount of such bonds being redeemed plus accrued and unpaid interest thereon to but excluding the date fixed for redemption.]***
[“Comparable Treasury Issue” means the U.S. Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the bonds of this series being redeemed (assuming, for this purpose, that the bonds of this series matured on July 15, 2020) that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the bonds of this series being redeemed.]**
[“Comparable Treasury Issue” means the U.S. Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the bonds of this series being redeemed (assuming, for this purpose, that the bonds of this series matured on February 15, 2045) that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the bonds of this series being redeemed.]***
“Comparable Treasury Price” means (i) the average of the Reference Treasury Dealer Quotations for the date fixed for redemption, after excluding the highest and lowest Reference Treasury Dealer Quotations for the date fixed for redemption, or (ii) if the Company obtains fewer than four of such Reference Treasury Dealer Quotations for the date fixed for redemption, the average of all of the Reference Treasury Dealer Quotations for the date fixed for redemption.
Independent Investment Banker” means each of BNP Paribas Securities Corp., BNY Mellon Capital Markets, LLC, Mitsubishi UFJ Securities (USA), Inc., Mizuho Securities USA Inc., Morgan Stanley & Co. LLC, or their respective successors or, if such firms or their 

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respective successors are unwilling or unable to select the Comparable Treasury Issue, an independent investment banking institution of national standing appointed by the Company.
“Primary Treasury Dealer” means any primary U.S. Government securities dealer in the United States.
“Reference Treasury Dealer” means (1) each of BNP Paribas Securities Corp., Mizuho Securities USA Inc., Morgan Stanley & Co. LLC, and a Primary Treasury Dealer selected by each of BNY Mellon Capital Markets, LLC and Mitsubishi UFJ Securities (USA), Inc., and any other Primary Treasury Dealer designated by, and not affiliated with, BNP Paribas Securities Corp., BNY Mellon Capital Markets, LLC, Mitsubishi UFJ Securities (USA), Inc., Mizuho Securities USA Inc., and Morgan Stanley & Co. LLC, or their respective successors, provided, however, that if any of the foregoing or any of their respective designees ceases to be a Primary Treasury Dealer, the Company will appoint another Primary Treasury Dealer as a substitute and (2) any other Primary Treasury Dealer selected by the Company after consultation with an Independent Investment Banker.
“Reference Treasury Dealer Quotations” means, for each Reference Treasury Dealer and any date fixed for redemption, the average, as determined by an Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to an Independent Investment Banker by the Reference Treasury Dealer at 5:00 p.m., Eastern time, on the third business day preceding the date fixed for redemption.
“Treasury Yield” means, for any date fixed for redemption, (i) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded U.S. Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the remaining term, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue will be determined and the Treasury Yield will be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month); or (ii) if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for the date fixed for redemption.  The Treasury Yield will be calculated on the third business day preceding the date fixed for redemption.
Bonds of this series are not subject to a sinking fund.
This bond is transferable as prescribed in the Indenture by the registered owner hereof in person, or by his duly authorized attorney, at the office of the Trustee in the City of Chicago, Illinois, or at the option of the owner at the agency of the Company in the Borough of Manhattan, City and State of New York, or elsewhere if authorized by the Company, upon 

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surrender and cancellation of this bond, and thereupon a new bond or bonds of the same series and of a like aggregate principal amount will be issued to the transferee in exchange therefor as provided in the Indenture, upon payment of taxes or other governmental charges, if any, that may be imposed in relation thereto.
Bonds of this series are interchangeable as to denominations in the manner and upon the conditions prescribed in the Indenture.
No charge shall be made by the Company for any exchange or transfer of bonds of this series, other than for taxes or other governmental charges, if any, that may be imposed in relation thereto.
The Company shall not be required to issue, transfer or exchange any bond of this series during a period of 10 days immediately preceding any selection of bonds of this series to be redeemed.  The Company shall not be required to transfer or exchange any bond of this series called or being called for redemption in its entirety or to transfer or exchange the called portion of a bond of this series which has been called for partial redemption.
No recourse shall be had for the payment of the principal of or the interest on this bond, or any part thereof, or of any claim based hereon or in respect hereof or of said Indenture, against any incorporator, or any past, present or future shareholder, officer or director of the Company or of any predecessor or successor corporation, either directly or through the Company, or through any such predecessor or successor corporation, or through any receiver or a trustee in bankruptcy, whether by virtue of any constitution, statute or rule of law or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issue hereof, expressly waived and released, as more fully provided in the Indenture.
This bond shall not be valid or become obligatory for any purpose unless and until the certificate of authentication hereon shall have been signed by or on behalf of The Bank of New York Mellon Trust Company, N.A. (as successor trustee to Harris Trust and Savings Bank and BNY Midwest Trust Company), as Trustee under the Indenture, or its successor thereunder.
IN WITNESS WHEREOF, NORTHERN STATES POWER COMPANY has caused this bond to be executed in its name by its President or a Vice President and its corporate seal, or a facsimile thereof, to be hereto affixed and attested by its Secretary or an Assistant Secretary.
	
		
	Dated: ____________

 
 
           Attest:
	NORTHERN STATES POWER COMPANY
 

 
By: _______________________________                                                              
 
      Vice President

(Form of Trustee’s Certificate)
This bond is one of the bonds of the Series designated thereon, described in the within-mentioned Indenture.

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NAI-1500432715 

	
		
	 
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee 
 
 
By:_______________________________
   Authorized Officer

	 
	

Dated:

and
WHEREAS, the Company is desirous of conveying, assigning, transferring, mortgaging, pledging, setting over and confirming to the Trustee and to its respective successors in trust, additional property acquired by it subsequent to the date of the preparation of the Supplemental Trust Indenture dated as of May 1, 2014; and
WHEREAS, the Indenture provides in substance that the Company and the Trustee may enter into indentures supplemental thereto for the purposes, among others, of creating and setting forth the particulars of any new series of bonds and of providing the terms and conditions of the issue of the bonds of any series not expressly provided for in the Indenture and of conveying, assigning, transferring, mortgaging, pledging, setting over and confirming to the Trustee additional property of the Company, and for any other purpose not inconsistent with the terms of the Indenture; and
WHEREAS, the execution and delivery of this Supplemental Trust Indenture have been duly authorized by a resolution adopted by the Board of Directors of the Company; and
WHEREAS, the Trustee has duly determined to execute this Supplemental Trust Indenture and to be bound, insofar as it may lawfully do so, by the provisions hereof;
Now, THEREFORE, Northern States Power Company, in consideration of the premises and of one dollar duly paid to it by the Trustee at or before the ensealing and delivery of these presents, the receipt of which is hereby acknowledged, and other good and valuable considerations, does hereby covenant and agree to and with The Bank of New York Mellon Trust Company, N.A. (as successor trustee to Harris Trust and Savings Bank and BNY Midwest Trust Company), as Trustee, and its successors in the trust under the Indenture for the benefit of those who hold or shall hold the bonds, or any of them, issued or to be issued thereunder, as follows:

ARTICLE I.
SPECIFIC SUBJECTION OF ADDITIONAL PROPERTY 
TO THE LIEN OF THE INDENTURE
SECTION 1.01.  The Company, in order to better secure the payment, of both the principal and interest, of all bonds of the Company at any time outstanding under the Indenture according to their tenor and effect and the performance of and compliance with the covenants and conditions contained in the Indenture, has granted, bargained, sold, warranted, released, conveyed, assigned, transferred, mortgaged, pledged, set over and confirmed, and by these presents does grant, bargain, sell, warrant, release, convey, assign, transfer, mortgage, pledge, set 

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over and confirm, to the Trustee and to its respective successors in said trust forever, subject to the rights reserved by the Company in and by the provisions of the Indenture, all of the property described and mentioned or enumerated in the schedule annexed hereto and marked Schedule A, reference to said schedule being made hereby with the same force and effect as if the same were incorporated herein at length; together with all and singular the tenements, hereditaments and appurtenances belonging and in any way appertaining to the aforesaid property or any part thereof with the reversion and reversions, remainder and remainders, tolls, rents and revenues, issues, income, products and profits thereof;
Also, in order to subject the personal property and chattels of the Company to the lien of the Indenture and to conform with the provisions of the Uniform Commercial Code, all fossil, nuclear, hydro and other electric generating plants, including buildings and other structures, turbines, generators, exciters, boilers, reactors, nuclear fuel, other boiler plant equipment, condensing equipment and all other generating equipment; substations; electric transmission and distribution systems, including structures, poles, towers, fixtures, conduits, insulators, wires, cables, transformers, services and meters; steam heating mains and equipment; gas transmission and distribution systems, including structures, storage facilities, mains, compressor stations, purifier stations, pressure holders, governors, services and meters; telephone plant and related distribution systems; trucks and trailers; office, shop and other buildings and structures, furniture and equipment; apparatus and equipment of all other kinds and descriptions; materials and supplies; all municipal and other franchises, leaseholds, licenses, permits, privileges, patents and patent rights; all shares of stock, bonds, evidences of indebtedness, contracts, claims, accounts receivable, choses in action and other intangibles, all books of account and other corporate records;
Excluding, however, all merchandise and appliances heretofore or hereafter acquired for the purpose of sale to customers and others;
All the estate, right, title, interest and claim, whatsoever, at law as well as in equity, which the Company now has or hereafter may acquire in and to the aforesaid property and every part and parcel thereof subject, however, to the right of the Company, upon the occurrence and continuation of a Completed Default as defined in the Indenture, to retain in its possession all shares of stock, notes, evidences of indebtedness, other securities and cash not expressly required by the provisions hereof to be deposited with the Trustee, to retain in its possession all contracts, bills and accounts receivable, motor cars, any stock of goods, wares and merchandise, equipment or supplies acquired for the purpose of consumption in the operation, construction or repair of any of the properties of the Company, and to sell, exchange, pledge, hypothecate or otherwise dispose of any or all of such property so retained in its possession, free from the lien of the Indenture, without permission or hindrance on the part of the Trustee, or any of the bondholders. No person in any dealings with the Company in respect of any such property shall be charged with any notice or knowledge of any such Completed Default under the Indenture while the Company is in possession of such property.  Nothing contained herein or in the Indenture shall be deemed or construed to require the deposit with, or delivery to, the Trustee of any of such property, except such as is specifically required to be deposited with the Trustee by some express provision of the Indenture;
    

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To have and to hold all said property, real, personal and mixed, granted, bargained, sold, warranted, released, conveyed, assigned, transferred, mortgaged, pledged, set over or confirmed by the Company as aforesaid, or intended so to be, to the Trustee and its successors and assigns forever, subject, however, to Permitted Encumbrances and to the further reservations, covenants, conditions, uses and trusts set forth in the Indenture; in trust nevertheless for the same purposes and upon the same conditions as are set forth in the Indenture.
ARTICLE II.
FORM AND EXECUTION OF SERIES 2020 BONDS AND 2045 BONDS
SECTION 2.01.  There is hereby created, for issuance under the Indenture, a series of bonds designated Series due August 15, 2020, each of which shall bear the descriptive title “First Mortgage Bonds, Series due August 15, 2020,” (such bonds, the “Series 2020 Bonds”) and the form thereof shall contain suitable provisions with respect to the matters hereafter specified in this Section.  The Series 2020 Bonds may forthwith be executed by the Company substantially in the form set forth in the recitals, including the relevant provisions as indicated therein, and delivered to the Trustee for authentication and delivery by the Trustee in accordance with the provisions of the Indenture and this Supplemental Trust Indenture.  The Series 2020 Bonds shall initially be authenticated and delivered in the aggregate principal amount of $300,000,000.  The Series 2020 Bonds may be reopened and additional bonds of said series may be issued in excess of the amount initially authenticated and delivered, provided that such additional bonds of said series will contain the same terms (including the maturity date and interest payment terms), except for the public offering price and the issue date, and, if applicable, except for the initial interest payment date and initial interest accrual date, as the other Series 2020 Bonds.  Any such additional Series 2020 Bonds, together with the Series 2020 Bonds initially authenticated, shall constitute a single series for purposes of the Indenture and shall be limited to an aggregate principal amount of $600,000,000.  The Series 2020 Bonds shall mature on August 15, 2020, and shall be issued as registered bonds without coupons in denominations of $1,000, and integral multiples in excess thereof.  The Series 2020 Bonds shall bear interest at a rate of 2.20% per annum on the principal amount thereof payable semi-annually on February 15 and August 15 of each year, commencing on February 15, 2016, and the principal shall be payable at the office of the Trustee in the City of Chicago, Illinois, or at the option of the registered owner at the agency of the Company in the Borough of Manhattan, City and State of New York, in lawful money of the United States of America, and the interest shall be payable in like money at the option of the person entitled to such interest either at said office of the Trustee in the City of Chicago, Illinois, or at the agency of the Company in the Borough of Manhattan, City and State of New York.  Interest on the Series 2020 Bonds shall be calculated on the basis of a 360-day year consisting of twelve 30-day months.  If any interest payment date or date on which the principal of this bond is required to be paid is not a business day, then payment of principal, premium or interest need not be made on such date but may be made on the next succeeding business day with the same force and effect as if made on such interest payment date or date on which the principal of this bond is required to be paid and, in the case of timely payment thereof, no interest shall accrue for the period from and after such interest payment date or the date on which the principal of this bond is required to be paid.  The Series 2020 Bonds shall be dated as of the date of authentication thereof by the Trustee.  The term “business day” shall mean any day other than a Saturday or Sunday or a day on which the offices of the Trustee in the City of Chicago, Illinois, are closed pursuant to authorization of law.

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As long as there is no existing default in the payment of interest on the Series 2020 Bonds, the person in whose name any Series 2020 Bond is registered at the close of business on any Record Date with respect to any interest payment date shall be entitled to receive the interest payable on such interest payment date notwithstanding any transfer or exchange of any such Series 2020 Bond subsequent to the Record Date and on or prior to such interest payment date, except as and to the extent the Company shall default in the payment of the interest due on such interest payment date, in which case such defaulted interest shall be paid to the person in whose name such Series 2020 Bond is registered on the Special Record Date for the payment of such defaulted interest to be fixed by the Trustee, notice thereof shall be given to the registered holder of any Series 2020 Bond not less than 10 days prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Series 2020 Bond may be listed, and upon such notice as may be required by such exchange.
The term “Record Date” as used in this Section 2.01 with respect to any interest payment date (February 15 or August 15) shall mean the February 1 prior to such February 15 or the August 1 prior to such August 15 (whether or not a business day).
As used in this Section 2.01, the term “default in the payment of interest” means failure to pay interest on the applicable interest payment date disregarding any period of grace permitted by the Indenture.
The “Special Record Date” as used in this Section 2.01 shall be fixed in the following manner.  The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Series 2020 Bond and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons entitled to such defaulted interest as provided in this Section 2.01.  Thereupon the Trustee shall fix a Special Record Date for the payment of such defaulted interest which shall be not more than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment.  The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such defaulted interest and the Special Record Date therefor to be mailed, first class postage prepaid, to each holder of the Series 2020 Bonds, at his, her or its address as it appears in the bond register, not less than 10 days prior to such Special Record Date.  Notice of the proposed payment of such defaulted interest and the Special Record Date therefor having been mailed as aforesaid, such defaulted interest shall be paid to the persons in whose names the Series 2020 Bonds are registered on such Special Record Date and shall not be payable pursuant to the paragraph immediately following in this Section 2.01.
The Company may make payment of any defaulted interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Series 2020 Bonds may be listed, and upon such notice as may be required by such exchange, if, after notice is given by the Company to the Trustee of the proposed payment pursuant to this Section 2.01, such payment shall be deemed practicable by the Trustee.

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SECTION 2.02.  There is hereby created, for issuance under the Indenture, a series of bonds designated Series due August 15, 2045, each of which shall bear the descriptive title “First Mortgage Bonds, Series due August 15, 2045,” (such bonds, the “Series 2045 Bonds”) and the form thereof shall contain suitable provisions with respect to the matters hereafter specified in this Section.  The Series 2045 Bonds may forthwith be executed by the Company substantially in the form set forth in the recitals, including the relevant provisions as indicated therein, and delivered to the Trustee for authentication and delivery by the Trustee in accordance with the provisions of the Indenture and this Supplemental Trust Indenture.  The Series 2045 Bonds shall initially be authenticated and delivered in the aggregate principal amount of $300,000,000.  The Series 2045 Bonds may be reopened and additional bonds of said series may be issued in excess of the amount initially authenticated and delivered, provided that such additional bonds of said series will contain the same terms (including the maturity date and interest payment terms), except for the public offering price and the issue date, and, if applicable, except for the initial interest payment date and initial interest accrual date, as the other Series 2045 Bonds.  Any such additional Series 2045 Bonds, together with the Series 2045 Bonds initially authenticated, shall constitute a single series for purposes of the Indenture and shall be limited to an aggregate principal amount of $900,000,000.  The Series 2045 Bonds shall mature on August 15, 2045, and shall be issued as registered bonds without coupons in denominations of $1,000, and integral multiples in excess thereof.  The Series 2045 Bonds shall bear interest at a rate of 4.00% per annum on the principal amount thereof payable semi-annually on February 15 and August 15 of each year, commencing February 15, 2016, and the principal shall be payable at the office of the Trustee in the City of Chicago, Illinois, or at the option of the registered owner at the agency of the Company in the Borough of Manhattan, City and State of New York, in lawful money of the United States of America, and the interest shall be payable in like money at the option of the person entitled to such interest either at said office of the Trustee in the City of Chicago, Illinois, or at the agency of the Company in the Borough of Manhattan, City and State of New York.  Interest on the Series 2045 Bonds shall be calculated on the basis of a 360-day year consisting of twelve 30-day months.  If any interest payment date or date on which the principal of this bond is required to be paid is not a business day, then payment of principal, premium or interest need not be made on such date but may be made on the next succeeding business day with the same force and effect as if made on such interest payment date or date on which the principal of this bond is required to be paid and, in the case of timely payment thereof, no interest shall accrue for the period from and after such interest payment date or the date on which the principal of this bond is required to be paid.  The Series 2045 Bonds shall be dated as of the date of authentication thereof by the Trustee.  The term “business day” shall mean any day other than a Saturday or Sunday or a day on which the offices of the Trustee in the City of Chicago, Illinois, are closed pursuant to authorization of law.
As long as there is no existing default in the payment of interest on the Series 2045 Bonds, the person in whose name any Series 2045 Bond is registered at the close of business on any Record Date with respect to any interest payment date shall be entitled to receive the interest payable on such interest payment date notwithstanding any transfer or exchange of any such Series 2045 Bond subsequent to the Record Date and on or prior to such interest payment date, except as and to the extent the Company shall default in the payment of the interest due on such interest payment date, in which case such defaulted interest shall be paid to the person in whose name such Series 2045 Bond is registered on the Special Record Date for the payment of such defaulted interest to be fixed by the Trustee, notice thereof shall be given to the registered holder                  

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of any Series 2045 Bond not less than 10 days prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Series 2045 Bond may be listed, and upon such notice as may be required by such exchange.
The term “Record Date” as used in this Section 2.02 with respect to any interest payment date (February 15 or August 15) shall mean the February 1 prior to such February 15 or the August 1 prior to such August 15 (whether or not a business day).
As used in this Section 2.02, the term “default in the payment of interest” means failure to pay interest on the applicable interest payment date disregarding any period of grace permitted by the Indenture.
The “Special Record Date” as used in this Section 2.02 shall be fixed in the following manner.  The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Series 2045 Bond and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons entitled to such defaulted interest as provided in this Section 2.02.  Thereupon the Trustee shall fix a Special Record Date for the payment of such defaulted interest which shall be not more than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment.  The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such defaulted interest and the Special Record Date therefor to be mailed, first class postage prepaid, to each holder of the Series 2045 Bonds, at his, her or its address as it appears in the bond register, not less than 10 days prior to such Special Record Date.  Notice of the proposed payment of such defaulted interest and the Special Record Date therefor having been mailed as aforesaid, such defaulted interest shall be paid to the persons in whose names the Series 2045 Bonds are registered on such Special Record Date and shall not be payable pursuant to the paragraph immediately following in this Section 2.02.
The Company may make payment of any defaulted interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Series 2045 Bonds may be listed, and upon such notice as may be required by such exchange, if, after notice is given by the Company to the Trustee of the proposed payment pursuant to this Section 2.02, such payment shall be deemed practicable by the Trustee.
SECTION 2.03.  At any time prior to July 15, 2020, the Company may redeem the Series 2020 Bonds, in whole or in part, at a redemption price equal to the greater of (i) 100% of the principal amount of such Series 2020 Bonds being redeemed or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Series 2020 Bonds being redeemed that would be due if such Bonds matured on July 15, 2020 (excluding the portion of any such accrued and unpaid interest to but excluding the date fixed for redemption), discounted to the date fixed for redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Yield (as defined below) plus 10 basis points, 

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plus, in each case, accrued and unpaid interest thereon to but excluding the date fixed for redemption.  At any time on or after July 15, 2020, the Company may redeem, in whole or in part, the Series 2020 Bonds at 100% of the principal amount of such Bonds being redeemed plus accrued and unpaid interest thereon to but excluding the date fixed for redemption.
At any time prior to February 15, 2045, the Company may redeem the Series 2045 Bonds, in whole or in part, at a redemption price equal to the greater of (i) 100% of the principal amount of such Series 2045 Bonds being redeemed or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Series 2045 Bonds being redeemed that would be due if such Bonds matured on February 15, 2045 (excluding the portion of any such accrued and unpaid interest to but excluding the date fixed for redemption), discounted to the date fixed for redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Yield (as defined below) plus 20 basis points, plus, in each case, accrued and unpaid interest thereon to but excluding the date fixed for redemption.  At any time on or after February 15, 2045, the Company may redeem, in whole or in part, the Series 2045 Bonds at 100% of the principal amount of such Bonds being redeemed plus accrued and unpaid interest thereon to but excluding the date fixed for redemption.
“Comparable Treasury Issue” means the U.S. Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the Bonds of the applicable series being redeemed (assuming for this purpose that the Series 2020 Bonds matured on July 15, 2020 and the Series 2045 Bonds matured on February 15, 2045) that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Bonds of the applicable series being redeemed.
“Comparable Treasury Price” means (i) the average of the Reference Treasury Dealer Quotations for the date fixed for redemption, after excluding the highest and lowest Reference Treasury Dealer Quotations for the date fixed for redemption, or (ii) if the Company obtains fewer than four of such Reference Treasury Dealer Quotations for the date fixed for redemption, the average of all of the Reference Treasury Dealer Quotations for the date fixed for redemption.
“Independent Investment Banker” means each of BNP Paribas Securities Corp., BNY Mellon Capital Markets, LLC, Mitsubishi UFJ Securities (USA), Inc., Mizuho Securities USA Inc., Morgan Stanley & Co. LLC, or their respective successors or, if such firms or their respective successors are unwilling or unable to select the Comparable Treasury Issue, an independent investment banking institution of national standing appointed by the Company.
“Primary Treasury Dealer” means any primary U.S. Government securities dealer in the United States.
“Reference Treasury Dealer” means (1) each of BNP Paribas Securities Corp., Mizuho Securities USA Inc., Morgan Stanley & Co. LLC, and a Primary Treasury Dealer selected by each of BNY Mellon Capital Markets, LLC and Mitsubishi UFJ Securities (USA), Inc., and any other Primary Treasury Dealer designated by, and not affiliated with, BNP Paribas Securities Corp., BNY Mellon Capital Markets, LLC, Mitsubishi UFJ Securities (USA), Inc., Mizuho 

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Securities USA Inc., and Morgan Stanley & Co. LLC, or their respective successors, provided, however, that if any of the foregoing or any of their respective designees ceases to be a Primary Treasury Dealer, the Company will appoint another Primary Treasury Dealer as a substitute and (2) any other Primary Treasury Dealer selected by the Company after consultation with an Independent Investment Banker.
“Reference Treasury Dealer Quotations” means, for each Reference Treasury Dealer and any date fixed for redemption, the average, as determined by an Independent Investment Banker, of the bid and asked prices for the applicable Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to an Independent Investment Banker by the Reference Treasury Dealer at 5:00 p.m., Eastern time, on the third business day preceding the date fixed for redemption.
“Treasury Yield” means, for any date fixed for redemption, (i) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded U.S. Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the applicable Comparable Treasury Issue (if no maturity is within three months before or after the remaining term, yields for the two published maturities most closely corresponding to such Comparable Treasury Issue will be determined and the Treasury Yield will be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month); or (ii) if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the applicable Comparable Treasury Issue, calculated using a price for such Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the applicable Comparable Treasury Price for the date fixed for redemption.  The Treasury Yield will be calculated on the third business day preceding the date fixed for redemption.
The Company may redeem, in whole or in part, the Series 2020 Bonds without redeeming the Series 2045 Bonds or the Series 2045 Bonds without redeeming the Series 2020 Bonds. 
Neither the Series 2020 Bonds nor the Series 2045 Bonds are subject to a sinking fund.
The redemption prices of the Bonds need not be specified in any temporary bond of said series if an appropriate reference be made in said temporary bond to the provision of this Section.
For purposes of Section 10.02 of the Indenture, the redemption price to be set forth in the notice of any redemption of the Series 2020 Bonds occurring prior to July 15, 2020 or of the Series 2045 Bonds occurring prior to February 15, 2045 may be the manner of calculation thereof. The Company shall give the Trustee notice of such redemption price promptly after the calculation thereof and the Trustee shall not be responsible for any such calculation. 
SECTION 2.04.  The registered owner of any Bond or Bonds of a series, at his, her or its option, may surrender the same with other Bonds of such series at the office of the Trustee in the 

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City of Chicago, Illinois, or at the agency of the Company in the Borough of Manhattan, City and State of New York, or elsewhere if authorized by the Company, for cancellation, in exchange for other Bonds of such series of higher or lower authorized denominations, but of the same aggregate principal amount, bearing interest from its date, and upon receipt of any payment required under the provisions of Section 2.05 hereof.  Thereupon the Company shall execute and deliver to the Trustee and the Trustee shall authenticate and deliver such other registered Bonds to such registered owner at its office or at any other place specified as aforesaid.
Notwithstanding any other provisions of the Indenture to the contrary, the Company shall not be required to issue, transfer or exchange any Bond of a series during a period of ten (10) days next preceding any selection of Bonds of such series to be redeemed.  The Company shall not be required to transfer or exchange any Bond called or being called for redemption in its entirety or to transfer or exchange the called portion of a Bond which has been called for partial redemption.
SECTION 2.05. No charge shall be made by the Company for any exchange or transfer of Bonds other than for taxes or other governmental charges, if any, that may be imposed in relation thereto.
SECTION 2.06.  The Bonds shall be executed on behalf of the Company by its President or one of its Vice Presidents, and its corporate seal shall be thereunto affixed, or printed, lithographed or engraved thereon, in facsimile, and attested by the signature of its Secretary or one of its Assistant Secretaries.  Any such signatures may be manual or facsimile signatures and may be imprinted or otherwise reproduced.  In case any of the officers who shall have signed any Bonds or attested the seal thereon shall cease to be such officers of the Company before the Bonds so signed and sealed actually shall have been authenticated by the Trustee or delivered by the Company, such Bonds nevertheless may be issued, authenticated and delivered with the same force and effect as though the person or persons who signed such Bonds and attested the seal thereon had not ceased to be such officer or officers of the Company.  Any Bond issuable hereunder may be signed or attested on behalf of the Company by such person as at the actual date of the execution of such Bond shall be the proper officer of the Company, although at the date of such Bond such person shall not have been an officer of the Company.
SECTION 2.07.  (a) Except as provided in subsections (c) and (g) of this Section 2.07, the registered holder of all of the Series 2020 Bonds and the Series 2045 Bonds shall be The Depository Trust Company (“DTC”) and such Bonds shall be registered in the name of Cede & Co., as nominee for DTC.  Payment of principal of, premium, if any, and interest on any Bonds registered in the name of Cede & Co. shall be made by transfer of New York Federal or equivalent immediately available funds with respect to the Bonds to the account of Cede & Co. on each such payment date for the Bonds at the address indicated for Cede & Co. in the bond register kept by the Trustee.
(b)    The Series 2020 Bonds and the Series 2045 Bonds shall each be initially issued in the form of one or more separate single authenticated fully registered certificates in the respective aggregate principal amount of such series of Bonds.  Upon initial issuance, the ownership of such Bonds shall be registered in the bond register kept by the Trustee in the name of Cede & Co., as nominee of DTC.  The Trustee and the Company may treat DTC (or its 

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nominee) as the sole and exclusive registered holder of the Bonds registered in its name for the purposes of payment of the principal of, premium, if any, and interest on the Bonds and of giving any notice permitted or required to be given to holders under the Indenture, except as provided in subsection (g) below of this Section 2.07; and neither the Trustee nor the Company shall be affected by any notice to the contrary.  Neither the Trustee nor the Company shall have any responsibility or obligation to any of DTC’s participants (each, a “Participant”), any person claiming a beneficial ownership in the Bonds under or through DTC or any Participant (each, a “Beneficial Owner”) or any other person which is not shown on the bond register maintained by the Trustee as being a registered holder, with respect to (1) the accuracy of any records maintained by DTC or any Participant; (2) the payment by DTC or any Participant of any amount in respect of the principal of, premium, if any, or interest on the Bonds; (3) the delivery by DTC or any Participant of any notice to any Beneficial Owner which is permitted or required to be given to registered holders under the Indenture of the Bonds; (4) the selection of the Beneficial Owners to receive payment in the event of any partial redemption of the Bonds; or (5) any consent given or other action taken by DTC as bondholder.  The Trustee shall pay all principal of, premium, if any, and interest on the Bonds registered in the name of Cede & Co. only to or “upon the order of” (as that term is used in the Uniform Commercial Code as adopted in Minnesota and New York) DTC, and all such payments shall be valid and effective to fully satisfy and discharge the Company’s obligations with respect to the principal of, premium, if any, and interest on such Bonds to the extent of the sum or sums so paid.  Except as otherwise provided in subsections (c) and (g) below of this Section 2.07, no person other than DTC shall receive authenticated bond certificates evidencing the obligation of the Company to make payments of principal of and interest on the Bonds.  Upon delivery by DTC to the Trustee of written notice to the effect that DTC has determined to substitute a new nominee in place of Cede & Co., and subject to the provisions of the Indenture with respect to transfers of bonds, the word “Cede & Co.” in this Supplemental Trust Indenture shall refer to such new nominee of DTC.
(c)    If the Company in its discretion determines that it is in the best interest of the Beneficial Owners that they be able to obtain bond certificates for the Series 2020 Bonds or Series 2045 Bonds or there shall have occurred and be continuing a Completed Default with respect to one or both series of Bonds, the Company shall notify DTC and the Trustee, whereupon DTC will notify the Participants of the availability through DTC of bond certificates for such series of Bonds.  In such event, the Trustee shall issue, transfer and exchange bond certificates as requested by DTC in appropriate amounts pursuant to Article II of the Restated Indenture and Section 2.04 of this Supplemental Trust Indenture.  The Company shall pay all costs in connection with the production of bond certificates if the Company makes such a determination under this Section 2.07(c).  DTC may determine to discontinue providing its services with respect to a series of Bonds at any time by giving written notice to the Company and the Trustee and discharging its responsibilities with respect thereto under applicable law.  Under such circumstances (if there is no successor book-entry depository), the Company and the Trustee shall be obligated (at the sole cost and expense of the Company) to deliver bond certificates for such series of Bonds as described in this Supplemental Trust Indenture.  If bond certificates are issued, the provisions of the Indenture shall apply to, among other things, the transfer and exchange of such certificates and the method of payment of principal of, premium, if any, and interest on such certificates.  Whenever DTC requests the Company and the Trustee to do so, the Company will direct the Trustee (at the sole cost and expense of the Company) to 

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cooperate with DTC in taking appropriate action after reasonable notice (i) to make available one or more separate certificates evidencing the Bonds to any Participant or (ii) to arrange for another book-entry depository to maintain custody of certificates evidencing the Bonds registered in the name of such depository or its nominee.  Any successor book-entry depository must be a clearing agency registered with the Securities and Exchange Commission pursuant to Section 17A of the Securities Exchange Act of 1934, as amended, and must enter into an agreement with the Company and the Trustee agreeing to act as the depository and clearing agency for such series of Bonds (except as provided in subsection (g) below of this Section 2.07).  After such agreement has become effective, DTC shall present the Bonds of the applicable series for registration of transfer in accordance with Section 2.12 of the Restated Indenture, and the Trustee shall register them in the name of the successor book-entry depository or its nominee and all references thereafter to DTC shall be to such successor book-entry depository.  If a successor book-entry depository has not accepted such position before the effective date of DTC’s termination of its services, the book-entry system shall automatically terminate and may not be reinstated without the consent of all registered holders of the Bonds of the applicable series.
(d)    Notwithstanding any other provision of this Supplemental Trust Indenture to the contrary, so long as any Bonds are registered in the name of Cede & Co., as nominee of DTC, all payments with respect to the principal of, premium, if any, and interest on such Bonds and all notices with respect to such Bonds shall be made and given, respectively, to DTC as provided in the blanket representation letter between DTC and the Company.  The Trustee is hereby authorized and directed to comply with all terms of the representation letter to the extent applicable to the Trustee.  
(e)    In connection with any notice or other communication to be provided pursuant to the Indenture for the Bonds by the Company or the Trustee with respect to any consent or other action to be taken by the registered holders of the Bonds, the Company or the Trustee, as the case may be, shall seek to establish a record date to the extent permitted by the Indenture for such consent or other action and give DTC notice of such record date not less than fifteen (15) calendar days in advance of such record date to the extent possible.  Such notice to DTC shall be given only when DTC is the sole registered holder.
(f)    NEITHER THE COMPANY NOR THE TRUSTEE WILL HAVE ANY RESPONSIBILITY OR OBLIGATIONS TO THE PARTICIPANTS OR THE BENEFICIAL OWNERS WITH RESPECT TO (1) THE ACCURACY OF ANY RECORDS MAINTAINED BY DTC OR ANY PARTICIPANT; (2) THE PAYMENT BY DTC OR ANY PARTICIPANT OF ANY AMOUNT DUE TO ANY BENEFICIAL OWNER IN RESPECT OF THE PRINCIPAL OF, PREMIUM, IF ANY, OR INTEREST ON THE BONDS; (3) THE DELIVERY BY DTC OR ANY PARTICIPANT OF ANY NOTICE TO ANY BENEFICIAL OWNER WHICH IS REQUIRED OR PERMITTED UNDER THE TERMS OF THE INDENTURE TO BE GIVEN TO REGISTERED HOLDERS; (4) THE SELECTION OF THE BENEFICIAL OWNERS TO RECEIVE PAYMENT IN THE EVENT OF ANY PARTIAL REDEMPTION OF THE BONDS; OR (5) ANY CONSENT GIVEN OR OTHER ACTION TAKEN BY DTC AS A REGISTERED HOLDER.

20
NAI-1500432715 

SO LONG AS CEDE & CO. IS THE REGISTERED HOLDER OF THE BONDS AS NOMINEE OF DTC, REFERENCES HEREIN TO REGISTERED HOLDERS OF THE BONDS SHALL MEAN CEDE & CO. AND SHALL NOT MEAN THE BENEFICIAL OWNERS OF THE BONDS NOR THE PARTICIPANTS.
(g)    The Company, in its sole discretion, may terminate the services of DTC with respect to a series of Bonds if the Company determines that: (i) DTC (x) is unable to discharge its responsibilities with respect to such series of Bonds or (y) at any time ceases to be a clearing agency registered under the Securities Exchange Act of 1934, as amended; or (ii) there shall have occurred and be continuing a Completed Default with respect to either series of Bonds.  The Company, in its sole discretion and subject to DTC’s procedures, may terminate the services of DTC with respect to either series of Bonds if the Company determines that a continuation of the requirement that all of the outstanding Bonds of such series be registered with the registration books kept by the Trustee in the name of Cede & Co., as nominee of DTC, is not in the best interest of the Beneficial Owners of the Bonds.  After such event and if no substitute book-entry depository is appointed by the Company, the bond certificates for the Series 2020 Bonds and the Series 2045 Bonds will be delivered as described in the Indenture.
(h)    Upon the termination of the services of DTC with respect to the Bonds pursuant to subsections (c) or (g) of this Section 2.07 after which no substitute book-entry depository is appointed, the Bonds shall be registered in whatever name or names holders transferring or exchanging Bonds shall designate in accordance with the provisions of the Indenture.
ARTICLE III.
APPOINTMENT OF AUTHENTICATING AGENT
SECTION 3.01.  The Trustee shall, if requested in writing so to do by the Company, promptly appoint an agent or agents of the Trustee who shall have authority to authenticate registered Series 2020 Bonds and/or Series 2045 Bonds in the name and on behalf of the Trustee.  Such appointment by the Trustee shall be evidenced by a certificate of a vice-president of the Trustee delivered to the Company prior to the effectiveness of such appointment.
SECTION 3.02.  (a) Any such authenticating agent shall be acceptable to the Company and at all times shall be a corporation, trust company or banking association organized and doing business under the laws of the United States or of any State, shall be authorized under such laws to act as authenticating agent, shall have a combined capital and surplus of at least $10,000,000 and shall be subject to supervision or examination by Federal or State authority.  If such corporation, trust company or banking association publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 3.02 the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published.
(b)    Any corporation, trust company or banking association into which any authenticating agent may be merged or converted or with which it may be consolidated, or any corporation, trust company or banking association resulting from any merger, conversion or consolidation to which any authenticating agent shall be a party, or any corporation, trust 

21
NAI-1500432715 

company or banking association succeeding to the corporate agency business of any authenticating agent, shall continue to be the authenticating agent without the execution or filing of any paper or any further act on the part of the Trustee or the authenticating agent.
(c)    Any authenticating agent at any time may resign by giving written notice of resignation to the Trustee and to the Company.  The Trustee may at any time, and upon written request of the Company to the Trustee shall, terminate the agency of any authenticating agent by giving written notice of termination to such authenticating agent and to the Company.  Upon receiving such a notice of resignation or upon such a termination, or in case at any time any authenticating agent shall cease to be eligible in accordance with the provisions of this Section 3.02, the Trustee, unless otherwise requested in writing by the Company, promptly shall appoint a successor authenticating agent, which shall be acceptable to the Company.  Any successor authenticating agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers, duties and responsibilities of its predecessor hereunder, with like effect as if originally named.  No successor authenticating agent shall be appointed unless eligible under the provisions of this Section 3.02.
(d)    The Company agrees to pay to any authenticating agent, appointed in accordance with the provisions of Section 3.01 and this Section 3.02, reasonable compensation for its services.
SECTION 3.03.  If an appointment is made pursuant to this Article III, the registered Series 2020 Bonds or Series 2045 Bonds, as applicable, shall have endorsed thereon, in addition to the Trustee’s Certificate, an alternate Trustee’s Certificate in the following form:

22
NAI-1500432715 

(Form of Trustee’s Certificate)
This bond is one of the bonds of the Series designated thereon, described in the within-mentioned Indenture.
	
		
	 
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee 
 
 
By: 
Authenticating Agent

	 
	 
 
 
By:                                                              
Authorized Officer

	 
	

Dated: ____________________________

SECTION 3.04.  No provision of this Article III shall require the Trustee to have at any time more than one such authenticating agent for any one State or to appoint any such authenticating agent in the State in which the Trustee has its principal place of business.
ARTICLE IV.
FINANCING STATEMENT TO COMPLY WITH 
THE UNIFORM COMMERCIAL CODE
SECTION 4.01.  The name and address of the debtor and secured party are set forth below:
	
		
	Debtor:
	Northern States Power Company 
414 Nicollet Mall 
Minneapolis, Minnesota  55401

	Secured Party:
	The Bank of New York Mellon Trust Company, N.A., Trustee 
2 North LaSalle Street 
Suite 1020 
Chicago, Illinois  60602

NOTE:  Northern States Power Company, the debtor above named, is “a transmitting utility” under the Uniform Commercial Code as adopted in Minnesota, North Dakota and South Dakota.
SECTION 4.02.  Reference to Article I hereof is made for a description of the property of the debtor covered by this Financing Statement with the same force and effect as if incorporated in this Section at length.
SECTION 4.03.  The maturity dates and respective principal amounts of obligations of the debtor secured and presently to be secured by the Indenture and this Supplemental Trust 

23
NAI-1500432715 

Indenture, reference to all of which for the terms and conditions thereof is hereby made with the same force and effect as if incorporated herein at length, are as follows:
	
		
	First Mortgage Bonds
	Principal Amount

	Series due July 1, 2025
	$250,000,000

	Series due March 1, 2028
	$150,000,000

	Series due July 15, 2035
	$250,000,000

	Series due June 1, 2036
	$400,000,000

	Series due July 1, 2037
	$350,000,000

	Series due March 1, 2018
	$500,000,000

	Series due November 1, 2039
	$300,000,000

	Series due August 15, 2015
	$250,000,000

	Series due August 15, 2040
	$250,000,000

	Series due August 15, 2022
	$300,000,000

	Series due August 15, 2042
	$500,000,000

	Series due May 15, 2023
	$400,000,000

	Series due May 15, 2044
	$300,000,000

	Series due August 15, 2020
	$300,000,000

	Series due August 15, 2045
	$300,000,000

SECTION 4.04.  This Financing Statement is hereby adopted for all of the First Mortgage Bonds of the Series mentioned above secured by said Indenture and this Supplemental Trust Indenture.
SECTION 4.05.  The 1937 Indenture, the Restated Indenture and the prior Supplemental Indentures, as set forth below, have been filed or recorded in each and every office in the States of Minnesota, North Dakota and South Dakota designated by law for the filing or recording thereof in respect of all property of the Company subject thereto:
	
		
	Original Indenture 
Dated February 1, 1937
	Supplemental Indenture 
Dated October 1, 1954

	Supplemental Indenture 
Dated June 1, 1942
	Supplemental Indenture 
Dated September 1, 1956

	Supplemental Indenture 
Dated February 1, 1944
	Supplemental Indenture 
Dated August 1, 1957

	Supplemental Indenture 
Dated October 1, 1945
	Supplemental Indenture 
Dated July 1, 1958

	Supplemental Indenture 
Dated July 1, 1948
	Supplemental Indenture 
Dated December 1, 1960

	Supplemental Indenture 
Dated August 1, 1949
	Supplemental Indenture                              Dated August 1, 1961

	Supplemental Indenture 
Dated June 1, 1952
	Supplemental Indenture 
Dated June 1, 1962

24
NAI-1500432715 

	
		
	Supplemental Indenture 
Dated September 1, 1963
	Supplemental Indenture                              Dated September 1, 1984

	Supplemental Indenture 
Dated August 1, 1966
	Supplemental Indenture                              Dated December 1, 1984

	Supplemental Indenture 
Dated June 1, 1967
	Supplemental Indenture                              Dated May 1, 1985

	Supplemental Indenture 
Dated October 1, 1967
	Supplemental Indenture                              Dated September 1, 1985

	Supplemental Indenture 
Dated May 1, 1968
	Supplemental and Restated Indenture                            Dated May 1, 1988

	Supplemental Indenture 
Dated October 1, 1969
	Supplemental Indenture                              Dated July 1, 1989

	Supplemental Indenture                            Dated February 1, 1971
	Supplemental Indenture                              Dated June 1, 1990

	Supplemental Indenture                            Dated May 1, 1971
	Supplemental Indenture                              Dated October 1, 1992

	Supplemental Indenture                            Dated February 1, 1972
	Supplemental Indenture                              Dated April 1, 1993

	Supplemental Indenture                            Dated January 1, 1973
	Supplemental Indenture                              Dated December 1, 1993

	Supplemental Indenture                            Dated January 1, 1974
	Supplemental Indenture                              Dated February 1, 1994

	Supplemental Indenture                            Dated September 1, 1974
	Supplemental Indenture                              Dated October 1, 1994

	Supplemental Indenture                            Dated April 1, 1975
	Supplemental Indenture                              Dated June 1, 1995

	Supplemental Indenture                            Dated May 1, 1975
	Supplemental Indenture                              Dated April 1, 1997

	Supplemental Indenture                            Dated March 1, 1976
	Supplemental Indenture                              Dated March 1, 1998

	Supplemental Indenture                            Dated June 1, 1981
	Supplemental Indenture                              Dated May 1, 1999

	Supplemental Indenture                            Dated December 1, 1981
	Supplemental Indenture                              Dated June 1, 2000

	Supplemental Indenture                            Dated May 1, 1983
	Supplemental Indenture                              Dated August 1, 2000

	Supplemental Indenture                            Dated December 1, 1983
	Supplemental Indenture                              Dated June 1, 2002

25
NAI-1500432715 

	
		
	Supplemental Indenture                              Dated July 1, 2002
	Supplemental Indenture                              Dated March 1, 2008

	Supplemental Indenture                              Dated August 1, 2002
	Supplemental Indenture                              Dated November 1, 2009

	Supplemental Indenture                              Dated May 1, 2003
	Supplemental Indenture                              Dated August 1, 2010

	Supplemental Indenture                              Dated August 1, 2003
	Supplemental Indenture                              Dated August 1, 2012

	Supplemental Indenture                              Dated July 1, 2005
	Supplemental Indenture                              Dated May 1, 2013

	Supplemental Indenture                              Dated May 1, 2006
	Supplemental Indenture                              Dated May 1, 2014

	Supplemental Indenture                              Dated June 1, 2007
	 

SECTION 4.06.  The property covered by this Financing Statement also shall secure additional series of First Mortgage Bonds of the debtor which may be issued from time to time in the future in accordance with the provisions of the Indenture.
ARTICLE V.
MISCELLANEOUS
SECTION 5.01.  The recitals of fact herein, except the recital that the Trustee has duly determined to execute this Supplemental Trust Indenture and be bound, insofar as it may lawfully so do, by the provisions hereof and in the bonds shall be taken as statements of the Company and shall not be construed as made by the Trustee.  The Trustee makes no representations as to the value of any of the property subject to the lien of the Indenture, or any part thereof, or as to the title of the Company thereto, or as to the security afforded thereby and hereby, or as to the validity of this Supplemental Trust Indenture or of the bonds issued under the Indenture by virtue hereof (except the Trustee’s certificate) and the Trustee shall incur no responsibility in respect of such matters.
SECTION 5.02.  This Supplemental Trust Indenture shall be construed in connection with and as a part of the Indenture.
SECTION 5.03.  (a) If any provision of the Indenture or this Supplemental Trust Indenture limits, qualifies or conflicts with another provision of the Indenture required to be included in indentures qualified under the Trust Indenture Act of 1939, as amended (as enacted prior to the date of this Supplemental Trust Indenture) by any of the provisions of Sections 310 to 317, inclusive, of the said Act, such required provision shall control.
(b)    In case any one or more of the provisions contained in this Supplemental Trust Indenture or in the bonds issued hereunder shall be invalid, illegal or unenforceable in any 

26
NAI-1500432715 

respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be affected, impaired, prejudiced or disturbed thereby.
SECTION 5.04.  Wherever in this Supplemental Trust Indenture the word “Indenture” is used without the prefix “1937,” “Original,” “Restated,” or “Supplemental,” such word was used intentionally to include in its meaning both the 1937 Indenture, as amended and restated by the Restated Indenture, and all indentures supplemental thereto.
SECTION 5.05.  Wherever in this Supplemental Trust Indenture either of the parties hereto is named or referred to, this shall be deemed to include the successors or assigns of such party, and all the covenants and agreements in this Supplemental Trust Indenture contained by or on behalf of the Company or by or on behalf of the Trustee shall bind and inure to the benefit of the respective successors and assigns of such parties, whether so expressed or not.
SECTION 5.06.  (a) This Supplemental Trust Indenture may be executed simultaneously in several counterparts, and all said counterparts executed and delivered, each as an original, shall constitute but one and the same instrument.
(b)    The Table of Contents and the descriptive headings of the several Articles of this Supplemental Trust Indenture were formulated, used and inserted in this Supplemental Trust Indenture for convenience only and shall not be deemed to affect the meaning or construction of any of the provisions hereof.
The total aggregate amount of obligations to be issued forthwith under this Supplemental Trust Indenture shall not exceed $600,000,000, consisting of the Series 2020 Bonds in the aggregate principal amount of $300,000,000 and the Series 2045 Bonds in the aggregate principal amount of $300,000,000.

27
NAI-1500432715 

IN WITNESS WHEREOF, on this 4th day of August, A.D. 2015, NORTHERN STATES POWER COMPANY, a Minnesota corporation, party of the first part, has caused its corporate name and seal to be hereunto affixed and this Supplemental Trust Indenture effective August 1, 2015, to be signed by its President or a Vice President, and attested by its Secretary or an Assistant Secretary, for and in its behalf, and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. (as successor trustee to Harris Trust and Savings Bank and BNY Midwest Trust Company), a national banking association, as Trustee, party of the second part, to evidence its acceptance of the trust hereby created, has caused its corporate name to be hereunto affixed, and this Supplemental Trust Indenture effective August 1, 2015, to be signed by its President, a Vice President or an Assistant Vice President.
	
		
	 
	NORTHERN STATES POWER COMPANY 
 

  /s/  Brian J. Van Abel                                 
By: Brian J. Van Abel
Its: Vice President and Treasurer

	Attest: 
 
 
  /s/  Tara M. Heine                                    
By: Tara M. Heine 
Its: Assistant Secretary

	 

	Executed by Northern States Power Company in the presence of: 
 
  /s/  Mary P. Schell                                  
Witness: Mary P. Schell 
 
   /s/  Lucas A. Asmus                               
Witness: Lucas A. Asmus
	(CORPORATE SEAL)

 [Signature page to Supplemental Indenture]
NAI-1500432715

	
		
	 
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee 
 
 
  /s/  Michael Countryman                            
By:   Michael Countryman
Its:   Vice President

 

	 
	 

	 
	 

 [Signature page to Supplemental Indenture]
NAI-1500432715

	
			
	STATE OF MINNESOTA
	)
	 

	 
	)
	SS.:

	COUNTY OF HENNEPIN
	)
	 

This instrument was acknowledged before me on August 4th, 2015 by Brian J. Van Abel as Vice President and Treasurer, and Tara M. Heine, as Assistant Secretary, of Northern States Power Company, a Minnesota corporation, on behalf of the corporation.
	
		
	  /s/  Sharon M. Quellhorst                          
Sharon M. Quellhorst 
Notary Public 
My commission expires: January 31, 2020
	 

	 
	 

NAI-1500432715

	
			
	STATE OF ILLINOIS
	)
	 

	 
	)
	SS.:

	COUNTY OF COOK
	)
	 

Michael Countryman, being duly sworn, for himself deposes and says that he, the said Michael Countryman, is Vice President, of The Bank of New York Mellon Trust Company, N.A., the national banking association described in and which executed the within and foregoing Supplemental Trust Indenture, as mortgagee; and Michael Countryman further says that said Supplemental Trust Indenture was executed in good faith.
	
		
	 
	  /s/  Michael Countryman                                
Michael Countryman

	
			
	STATE OF ILLINOIS
	)
	 

	 
	)
	SS.:

	COUNTY OF COOK
	)
	 

On this 3rd day of August, A.D. 2015, before me, Colleen Sketch, a Notary Public in and for said County in the State aforesaid, personally appeared Michael Countryman to me personally known, and to me known to be a Vice President of The Bank of New York Mellon Trust Company, N.A., the national banking association described in and which executed the within and foregoing instrument, and who, being by me severally duly sworn, did say that Michael Countryman is a Vice President of The Bank of New York Mellon Trust Company, N.A., the national banking association; and that said instrument was executed on behalf of said association by authority of its board of directors; and said Michael Countryman acknowledged said instrument to be the free act and deed of said association and that such association executed the same.
WITNESS my hand and notarial seal, this 3rd day of August, A.D. 2015.

	
		
	  /s/  Colleen Sketch                                      
Colleen Sketch 
Notary Public, State of Illinois 
My commission expires:  May 20, 2017
	 

	 
	(NOTARY SEAL)

	
	
	 

NAI-1500432715

SCHEDULE A

The property referred to in Article I of the foregoing Supplemental Trust Indenture from Northern States Power Company to The Bank of New York Mellon Trust Company N.A. as successor trustee to Harris Trust and Savings Bank, effective as of August 1, 2015, includes the following property hereafter more specifically described.  Such description, however, is not intended to limit or impair the scope or intention of the general description contained in the granting clauses or elsewhere in the Indenture.

I.  PROPERTIES IN THE STATE OF MINNESOTA

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

Barnesville Regulator Station

The South 190.00 feet of the East 150.00 feet of the East Half of the Northeast Quarter of Section 13, in Township 137 North, Range 46 West, Clay County, Minnesota.

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

Crandall Substation

The North 703.00 feet of the West 786.00 feet of the Northwest Quarter of Section 16, Township 104 North, Range 33 West, Martin County, Minnesota.

		
	3.
	The following described real property, situate, lying and being in the County of Morrison, to wit:

Holdingford Regulator Station

The South 100.00 feet of the East 125.00 feet of the West 305.00 feet of the South 1/2 of the Southwest Quarter of the Southwest Quarter of Section 29, Township 127 North, Range 30 West, Morrison County, Minnesota.

		
	4.
	The following described real property, situate, lying and being in the County of Rice, to wit:

Veseli Substation aka Lonsdale Substation

All that part of the Northwest Quarter of Section 12, Township 112 North, Range 22 West described as follows:  Beginning at the southwest corner of said Northwest Quarter of Section 12; thence North 89 degrees 34 minutes 26 seconds East 520.92 feet along the south line of said Northwest Quarter of Section 12; thence at a right angle North 00 degrees 25 minutes 34 seconds West 280.00 feet to the north line of the south 280.00 feet of said Northwest Quarter of Section 12; thence South 89 degrees 34 minutes 26 seconds West 518.30 feet along said north line of the south 280.00 feet to the west line of said 

	
			
	 
	 
	 

NAI-1500432715    

Northwest Quarter of Section 12; thence South 00 degrees 06 minutes 38 seconds West 280.01 feet along said west line to the point of beginning.

And

All that part of the Northwest Quarter of the Southwest Quarter of Section 12, Township 112 North, Range 22 West, Rice County, Minnesota, described as follows:  Commencing at the northwest corner of said Northwest Quarter of the Southwest Quarter of Section 12; thence North 89 degrees 34 minutes 26 seconds East 520.92 feet along the north line of said Northwest Quarter of the Southwest Quarter of Section 12 to the point of beginning; thence South 00 degrees 25 minutes 34 seconds East 166.04 feet to the south line of the North 5 acres of said Northwest Quarter of the Southwest Quarter of Section 12; thence South 89 degrees 34 minutes 26 seconds West 260.01 feet along said south line of the North 5 acres to the east line of the West 1 acre of the North 5 acres of said Northwest Quarter of the Southwest Quarter of Section 12; thence North 00 degrees 04 minutes 05 seconds East 166.05 feet to said north line of said Northwest Quarter of the Southwest Quarter of Section 12; thence North 89 degrees 34 minutes 26 seconds East 258.58 feet along said north line to the point of beginning.

		
	5.
	The following described real property, situate, lying and being in the County of Wright, to wit:

First Lake Substation

That part of the Southwest Quarter of the Southwest Quarter of Section 10, all in Township 121 North, Range 25 West, Wright County, Minnesota, described as follows:
The North 544.51 feet of the West 799.29 feet of the Southwest Quarter of the Southwest Quarter of Section 10, Township 121 North, Range 25 West, Wright County, Minnesota.

II.  PROPERTIES IN THE STATE OF NORTH DAKOTA

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

Peace Garden Substation

Outlot A located in the South Half of the Northwest Quarter (S1/2 NW1/4) of Section Two (2), Township 163 North, Range 69 West.

The following described real property, situate, lying and being in the County of Stutsman, to wit:

Courtenay Wind Farm

Rights of Northern States Power Company (successor by merger to Courtenay Wind Farm, LLC) under wind leases and easements and/or transmission easements 

	
			
	 
	 
	 

NAI-1500432715

covering the following parcels of real property located in Stutsman County, North Dakota.

Tract 1
Southwest Quarter (SW1/4) of Section 26, Township 144, Range 63, Stutsman County, North Dakota
PIN 39-2630000
Tract 2
Southeast Quarter (SE1/4) of Section 27, Township 144, Range 63, Stutsman County, North Dakota
PIN 39-2740000
Tract 3
Southwest Quarter (SW1/4) of Section 27, Township 144, Range 63, Stutsman County, North Dakota
PIN 39-2730000
Tract 4
North Half of Northeast Quarter (N1/2NE1/4) of Section 34, Township 144, Range 63, Stutsman County, North Dakota
PIN 39-3411000
Tract 5
South Half of Northeast Quarter (S1/2NE1/4) of Section 34, Township 144, Range 63, Stutsman County, North Dakota
PIN 39-3413000
Tract 6
Northwest Quarter of Southeast Quarter (NW1/4SE1/4) and East Half of Southeast Quarter (E1/2SE1/4) of Section 34 Township 144 Range 63, Stutsman County, North Dakota.  
PIN 39-3441000

	
			
	 
	 
	 

NAI-1500432715

Tract 7
Southwest Quarter of Southeast Quarter (SW1/4SE1/4) of Section 34 Township 144 Range 63, Stutsman County, North Dakota.
PIN 39-3443000
Tract 8
Northeast Quarter (NE1/4) (North of RY) of Section 35 Township 144 Range 63, Stutsman County, North Dakota
PIN 39-3511000
Tract 9
Northeast Quarter (NE1/4) (South of RY) of Section 35 Township 144 Range 63, Stutsman County, North Dakota
PIN 39-3513000
Tract 10
Northwest Quarter (NW1/4) of Section 35 Township 144 Range 63, Stutsman County, North Dakota
PIN 39-3520000
Tract 11
Southwest Quarter (SW1/4) of Section 35 Township 144 Range 63, Stutsman County, North Dakota
PIN 39-3530000
Tract 12
Southeast Quarter (SE1/4) of Section Thirty-five (35), Township One-Hundred Forty-Four (144) North, of Range Sixty-Three (63) West of the Fifth Principal Meridian, Stutsman County, North Dakota, South of the Railroad Right of Way, consisting of 157 acres, more or less, together with buildings and improvements thereon.
PIN 39-3540000
Tract 13
Southwest Quarter of Section 36 Township 144 Range 63, Stutsman County, North Dakota

	
			
	 
	 
	 

NAI-1500432715

PIN 39-3630000
Tract 14
Southeast Quarter of Section 36 Township 144 Range 63, Stutsman County, North Dakota
PIN 36-3640000
Tract 15
Government Lots 1, 2 and 10 and Southeast Quarter of Northeast Quarter (comprising the fractional Northeast Quarter) of Section 1 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-0110000
Tract 16
Government Lots 3, 4 and 5 (comprising the fractional Northwest Quarter) of Section 1 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-0120000
Tract 17
Government Lots 1 and 2 and South Half of Northeast Quarter (comprising the fractional Northeast Quarter) of Section 2 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-0210000
Tract 18
Northeast Quarter of Section 3 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-0310000    
Tract 19
North Half of Southeast Quarter of Section 3 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-0341000
Tract 20
South Half of Southeast Quarter of Section 3 Township 143 Range 63, Stutsman County, North Dakota

	
			
	 
	 
	 

NAI-1500432715

PIN 14-0343000
Tract 21
Southeast Quarter of Section 2 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-0240000
Tract 22
Government Lots 6 and 7 and Southwest Quarter of Southwest Quarter (comprising the fractional Southwest Quarter) of Section 1 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-0130000
Tract 23
Government Lots 8 and 9 and Northeast Quarter of Southeast Quarter (comprising the fractional Southeast Quarter) of Section 1 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-0140000
Tract 24
Northeast Quarter of Section 9 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-0910000
Tract 25
Northwest Quarter, less highway and USA parcels of Section 10 Township 143 Range 63, Stutsman County, North Dakota.
PIN 14-1020000
Tract 26
Northeast Quarter of Section 10 Township 143 North Range 63 West, Stutsman County, North Dakota
PIN 14-1010000
Tract 27
Northeast Quarter of Section 11 Township 143 Range 63, Stutsman County, North Dakota

	
			
	 
	 
	 

NAI-1500432715

PIN 14-1110000
Tract 28
Government Lot 3, West Half of Northwest Quarter and Southeast Quarter of Northwest Quarter (comprising the fractional Northwest Quarter) of Section 12 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-1220000
Tract 29
Northeast Quarter (NE 1⁄4) Of Section (12), Township One Hundred Forty Three (143), Range Sixty Three (63) PIN 14-1210000
Tract 30 
East 85 acres of Southeast Quarter of Section 12 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-1241000
Tract 31
West 75 acres of Southeast Quarter of Section 12 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-1242000
Tract 32
Southwest Quarter of Section 12 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-1230000
Tract 33
Southeast Quarter of Section 11 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-1140000
Tract 34
Southeast Quarter, less church and graveyard parcels all in Section 10 Township 143 Range 63, Stutsman County, North Dakota. 
PIN 14-1040000

	
			
	 
	 
	 

NAI-1500432715

Tract 35
Southwest Quarter of Section 10 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-1030000
Tract 36
Southeast Quarter of Section 9 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-0940000
Tract 37
North Half of Northeast Quarter of Section 13 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-1311000
Tract 38
South Half of Northeast Quarter of Section 13 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-1313000
Tract 39
Northwest Quarter of Section 13 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-1320000
Tract 40
Northeast Quarter of Section 14 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-1410000
Tract 41
Northwest Quarter of Section 14 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-1420000

	
			
	 
	 
	 

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Tract 42
North Half of Northeast Quarter of Section 15 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-1511000
Tract 43
South Half of Northeast Quarter of Section 15 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-1513000
Tract 44
Northwest Quarter of Section 15 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-1520000
Tract 45
Southwest Quarter of Section 15 Township 143 Range 63, Stutsman County, North Dakota 
PIN 14-1530000
Tract 46
Southeast Quarter of Section 15 Township 143 Range 63, Stutsman County, North Dakota 
PIN 14-1540000
Tract 47
Southwest Quarter of Section 13 Township 143 Range 63, Stutsman County, North Dakota 
PIN 14-13300000
Tract 48
Southwest Quarter of Section 14 Township 143 Range 63, Stutsman County, North Dakota 
PIN 14-1430000

	
			
	 
	 
	 

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Tract 49
North Half of Southeast Quarter of Section 13 Township 143 Range 63, Stutsman County, North Dakota 
PIN 14-1341000
Tract 50
Southeast Quarter of Section 14 Township 143 Range 63, Stutsman County, North Dakota 
PIN 14-1440000
Tract 51
South Half of Southeast Quarter of Section 13 Township 143 Range 63, Stutsman County, North Dakota 
PIN 14-1343000
Tract 52
Northwest Quarter of Section 22 Township 143 Range 63, Stutsman County, North Dakota 
PIN 14-2220000
Tract 53
Northeast Quarter of Section 22 Township 143 Range 63, Stutsman County, North Dakota 
PIN 14-2210000
Tract 54
Northwest Quarter of Section 23 Township 143 Range 63, Stutsman County, North Dakota 
PIN 14-2310000
Tract 55
Northeast Quarter of Section 23 Township 143 Range 63, Stutsman County, North Dakota 
PIN 14-2310000

	
			
	 
	 
	 

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Tract 56
Northwest Quarter of Section 24 Township 143 Range 63, Stutsman County, North Dakota 
PIN 14-2420000
Tract 57
Northeast Quarter of Section 24 Township 143 Range 63, Stutsman County, North Dakota 
PIN 14-2410000
Tract 58
Intentionally Deleted from Project
Tract 59
Southeast Quarter of Section 23 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-2340000
Tract 60
Southwest Quarter of Section 23 Township 143 Range 63, Stutsman County, North Dakota less and except Auditor’s Lot 23-1 Durham Township within Southwest Quarter of Sec. 23 Township 143 Range 63
PIN 14-2330000
Tract 61
Northeast Quarter of Section 25 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-2510000
Tract 62
Northwest Quarter of Section 25 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-2520000

	
			
	 
	 
	 

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Tract 63
Northeast Quarter of Section 26 Township 143 Range 63, Stutsman County, North Dakota 
PIN 14-2610000
Tract 64
Northwest Quarter of Section 26 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-2620000
Tract 65
Southwest Quarter of Section 26 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-2630000
Tract 66
Southeast Quarter of Section 26 Township 143 Range 63, Stutsman County, North Dakota less and except Auditor’s Lot 26-1, Durham Township
PIN 14-2640000
Tract 67
Southwest Quarter of Section 25 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-2530000
Tract 68
Southeast Quarter of Section 25 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-2540000
Tract 69
Northeast Quarter of Section 36 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-3610000

	
			
	 
	 
	 

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Tract 70
Northwest Quarter of Section 36 Township 143 Range 63, Stutsman County, North Dakota
Save and except:  Commencing at the NW corner stake of the NW 1⁄4, a line running due S. along the section line a distance of 29 rods, thence due E. 11 rods, thence due N. 29 rods to section line, thence due W. along said section line 11 rods to the POB
PIN 14-3620000
Tract 71
East Half of Northeast Quarter less highway right of way of Section 35 Township 143 Range 63, Stutsman County, North Dakota
PIN 14-35110000
Tract 72
West Half of Northwest Quarter of Section 35 Township 143 Range 63, Stutsman County, North Dakota 
PIN 14-3522000
Tract 73
West Half of Southwest Quarter of Section 35 Township 143 Range 63, Stutsman County, North Dakota 
PIN 14-3532000
Tract 74
East Half of Southeast Quarter of Section 35 Township 143 Range 63, Stutsman County, North Dakota 
PIN 14-3541000
Tract 75
Southwest Quarter of Section 36 Township 143 Range 63, Stutsman County, North Dakota 
PIN 14-3630000

	
			
	 
	 
	 

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Tract 76
Southeast Quarter of Section 36 Township 143 Range 63, Stutsman County, North Dakota 
PIN 14-3640000
Tract 77
Government Lots 4 and 5 and Southeast Quarter of Northwest Quarter of Section 6, Township 143, Range 62, lying South of the Railroad Right of Way, Stutsman Co., ND 
PIN 11-0623000
Tract 78
Government Lots 6 and 7 and East Half of Southwest Quarter (fractional Southwest Quarter) Section 6 Township 143 Range 62, Stutsman Co., ND 
PIN 11-0630000
Tract 79 Adeline R. Mitchell as to a Life Estate
Southeast Quarter lying South of the Railroad Right of Way, Section 6 Township 143 Range 62, Stutsman Co., ND 
PIN 11-0643000
Tract 80
Northwest Quarter less parcels of Section 7 Township 143 Range 62, Stutsman County, North Dakota.
PIN 11-07200000
Tract 81 
West Half of Northeast Quarter and West Half of East Half of Northeast Quarter of Section 7 Township 143 Range 62, Stutsman County, North Dakota. 
PIN 11-07120000
Less and Except A parcel of land in the Northeast Quarter of Section 7 Township 143 Range 62, Stutsman County, North Dakota, and more particularly described as follows: Beginning at a point 1692 ft. S.88°53’W. and 33 ft. S.1°11’E. from the NE corner of said NE1⁄4 of Sec. 7-143-62, thence S.1°11’E. 310 ft., thence S.88°53’W. 210 ft., thence N.1°11’W. 310 ft., thence N.88°53’E. 210 ft. to the point of beginning. 
PIN 11-0711012

	
			
	 
	 
	 

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Tract 82
A parcel of land in the Northeast Quarter of Section 7 Township 143 Range 62, Stutsman County, North Dakota, and more particularly described as follows: Beginning at a point 1692 ft. S.88°53’W. and 33 ft. S.1°11’E. from the NE corner of said NE1⁄4 of Sec. 7-143-62, thence S.1°11’E. 310 ft., thence S.88°53’W. 210 ft., thence N.1°11’W. 310 ft., thence N.88°53’E. 210 ft. to the point of beginning. 
PIN 11-0711012
Tract 83
The East 60 acres of the Southwest Quarter of Section 8 Township 143 Range 62, subject to all public highways, rights of ways and easements, and excepting the following described parcels (a) 10 acres of land lying in the SW corner of the SW1⁄4 of Sec. 8-143-62, more particularly described as follows: Commencing at the quarter stake at the SE corner of said quarter; running 40 rods West, thence 40 rods North, thence 40 rods East, thence 40 rods South to the said quarter stake at the place of beginning; (b) a parcel of land containing in all 12 acres, exclusive of the County Road, lying in the SW1⁄4  of Sec. 8-143-62, more particularly described as follows: Commencing at a point on the quarter line, between the NW1⁄4 and SW1⁄4 of sec. 8-143-62, 522.12 feet East of the SW corner of the SE1⁄4 of NW1⁄4 Sec. 8-143-62, thence due Ease on the quarter section line 755 feet to the West line of county road, thence due South 692.35 feet, thence due West 755 feet, thence due North 692.35 feet to the point of beginning; (c) East 2 acres of a 4 acre tract described as follows: Beginning at a point 104.7 feet East of the NW corner of the NE1⁄4 of SW1⁄4 of said Sec. 8, thence running South 417.4 feet, thence East 417.4 feet, thence North 417.4 feet, thence West 417.4 feet to place of beginning, Stutsman Co., ND. 
PIN 11-0834000
Tract 84 
West 50 Acres of the Southwest Quarter of Section 8 Township 143 Range 62 and that portion of the Southwest Quarter of Section 8 Township 143 Range 62 more particularly described as follows: Same to commence at a point 50 rods East of the SW corner of said Sec. 8, thence running in an easterly direction along the South line of said Sec. 8 50 rods, thence running in a northerly direction at right angles with said mentioned line 160 rods unto the North line of said Southwest Quarter of Sec. 8, thence running in a westerly direction along the North line of said Southwest Quarter of Sec. 8 50 rods, thence running at right angles with said last mentioned line 160 rods to the point of beginning, excepting the North 27 rods of said tracts, Stutsman County, North Dakota. 
PIN 11-0833000
Tract 85
Southeast Quarter of Section 7 Township 143 Range 62, Stutsman County, North Dakota.

	
			
	 
	 
	 

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PIN 11-0740000
Tract 86
Southwest Quarter of Section 7 Township 143 Range 62, Stutsman County, North Dakota
PIN11-0730000
Tract 87
Northwest Quarter of Section 17 Township 143 Range 62, Stutsman County, North Dakota
PIN 11-1720000
Tract 88
Southwest Quarter of Section 17 Township 143 Range 62, Stutsman County, North Dakota
PIN 11-1730000
Tract 89
Northeast Quarter of Section 18 Township 143 Range 62, Stutsman County, North Dakota
PIN 11-1810000
Tract 90
Government Lots 1 and 2 and East Half of the Northwest Quarter (comprising the fractional Northwest Quarter) of Section 18 Township 143 Range 62, Stutsman County, North Dakota
PIN 11-1820000
Tract 91
Southeast Quarter of Section 18 Township 143 Range 62, Stutsman County, North Dakota 
PIN 11-1840000
Tract 92
Southwest Quarter (SW1/4) of Section Eighteen (18), Township One Hundred Forty Three (143) Range Sixty Two (62), Stutsman County, North Dakota

	
			
	 
	 
	 

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PIN 11-1830000
Tract 93
Northwest Quarter of Section 19 Township 143 Range 62, Stutsman County, North Dakota 
PIN 11-1920000
Tract 94
Northeast Quarter of Section 19 Township 143 Range 62, Stutsman County, North Dakota
PIN 11-1910000
Tract 95
Northwest Quarter of Section 20 Township 143 Range 62, Stutsman County, North Dakota
PIN 11-2020000
Tract 96
North Half of Northeast Quarter of Section 20 Township 143 Range 62, Stutsman County, North Dakota 
PIN 11-2011000
Tract 97
South Half of Northeast Quarter of Section 20 Township 143 Range 62, Stutsman County, North Dakota
PIN 11-2013000
Tract 98
Southwest Quarter of Section 19 Township 143 Range 62, Stutsman County, North Dakota
PIN 11-1930000
Tract 99
Southeast Quarter of Section 19 Township 143 Range 62, Stutsman County, North Dakota

	
			
	 
	 
	 

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PIN11-1940000
Tract 100
Southwest Quarter of Section 20 Township 143 Range 62, Stutsman County, North Dakota
PIN 11-2030000
Tract 101
Southeast Quarter of Section 20 Township 143 Range 62, Stutsman County, North Dakota
PIN 11-2040000
Tract 102
Northwest Quarter of Section 28 Township 143 Range 62 less and except Auditor’s Lot 28-1, Courtenay Township within the Northwest Quarter of Section 28 Township 143 Range 62, Stutsman County, North Dakota also being the same as 
The Northwest Quarter (NW1/4) of Section Twenty-eight (28), Township One Hundred Forty-three (143) North, Range Sixty-two (62) West of the Fifth Principal Meridian, Stutsman County, North Dakota, LESS AND EXCEPTING THEREFROM Auditors Lot Number 28-1 of the Northwest Quarter (NW1/4) of Section Twenty-eight (28), Township One Hundred Forty-three (143) North, Range Sixty-two (62) West of the Fifth Principal Meridian, Stutsman County, North Dakota, described as follows:
Commencing at the NW comer of the N1/4 of said Section 28; thence S0°00’00”W (assumed bearing) along the west line of the NW1/4 of said Section 28, 185 .51 feet to the point of beginning; thence S87°41 ‘20”E, 630.00 feet; thence S0°00’ 00”W, 520.00 feet; thence N87°41 ‘20”W, 630.00 feet to a point on the west line of the NW V4 of said Section 28; thence N0°00’ 00”E, along the west line of the NW1/4 of said Section 28, 520.00 feet to the point of beginning.
PIN 11-2820000
Tract 103
Northeast Quarter of Section 29 Township 143 Range 62, LESS and EXCEPT Highway Right of Way, and ALSO LESS AND EXCEPT Auditors Lot 29-2 of the NW 1/4 of the NE 1/4 of Section 29, Township 143 North, Range 62 West, Stutsman County, North Dakota described as follows:
Commencing at the North Quarter corner of said Section; thence South 01 degrees 09 minutes 28 seconds east along the west line of said quarter, 601.37 feet; thence North 88 degrees 47 minutes 24 seconds East, 75.00 feet to the east right of way line of State 

	
			
	 
	 
	 

NAI-1500432715

Highway 9 and the point of beginning; thence continuing North 88 degrees 47 minutes 24 seconds east, 608.69 feet; thence South 01 degrees 52 minutes 39 seconds east, 471.01 feet; thence South 87 degrees 39 minutes 54 seconds west, 614.73 feet to the east right of way line of said Highway; thence North 01 degrees 09 minutes 28 seconds west along the east right of way line of said Highway. 483.05 feet to the point of beginning. Said tract contains 6.70 acres more or less.
PIN 11-2910000
Tract 104 
Northwest Quarter of Section 29 Township 143 Range 62, less Auditor’s Lot 29-1 Courtenay Township, Stutsman County, North Dakota
PIN 11-2920000
Tract 105
Southwest Quarter of Section 28 Township 143 Range 62, Stutsman County, North Dakota
PIN 11-2830000
Tract 106
Southeast Quarter of Section 29 Township 143 Range 62, Stutsman County, North Dakota
PIN 11-2940000
Tract 107
East Half of the Southwest Quarter of Section 29 Township 143 Range 62, Stutsman County, North Dakota
PIN 11-2931000
Tract 108
Township 143 Range 62, Stutsman County, North Dakota:
Section 29: Auditor’s Lot 29-1, Courtenay Township, located in NW 1/4 
PIN 11-2921041

	
			
	 
	 
	 

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Tract 109
Auditor’s Lot 29-2, Courtenay Township, in part of the NW1/4NE1/4 of Section 29, Township 143, Range 62 West, Stutsman County, North Dakota, pursuant to the plat filed for record as Document No. X182115.
PIN 11-2912032
Tract 110
Auditor’s Lot 28-1, Courtenay Township within the Northwest Quarter of Section 28 Township 143 Range 62, Stutsman County, North Dakota
PIN 11-2822030
Tract 111
West Half of the Southwest Quarter of Section 29 Township 143 Range 62, Stutsman County, North Dakota
PIN 11-2932000
Tract 112
Northeast Quarter of Section 30 Township 143 Range 62, Stutsman County, North Dakota
PIN 11-3010000
Tract 113
Northwest Quarter of Section 30 Township 143 Range 62, Stutsman County, North Dakota
PIN 11-3020000
Tract 114
Southwest Quarter of Section 30 Township 143 Range 62, Stutsman County, North Dakota
PIN 11-3030000
Tract 115
Southeast Quarter of Section 30 Township 143 Range 62, Stutsman County, North Dakota
PIN 11-3040000

	
			
	 
	 
	 

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Tract 116
Northwest Quarter of Section 31 Township 143 Range 62, Stutsman County, North Dakota
PIN 11-3120000
Tract 117
Northeast Quarter of Section 32 Township 143 Range 62, Stutsman County, North Dakota
PIN 11-3210000
Tract 118
Northwest Quarter of Section 32 Township 143 Range 62, Stutsman County, North Dakota
PIN 11-3220000
Tract 119
Northwest Quarter of Section 33 Township 143 Range 62, Stutsman County, North Dakota
PIN 11-3320000
Tract 120
Southwest Quarter of Section 32 Township 143 Range 62, Stutsman County, North Dakota
PIN 11-3230000
Tract 121
Southwest Quarter of Section 33 Township 143 Range 62, Stutsman County, North Dakota
PIN 11-3330000
Tract 122
Government Lots 3 and 4 and South Half of Northwest Quarter of Section 4 Township 142 Range 62, Stutsman County, North Dakota
PIN 22-0420000

	
			
	 
	 
	 

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Tract 123
Government Lots 1 and 2 and South Half of Northeast Quarter (comprising the fractional Northeast Quarter) of Section 5 Township 142 Range 62, Stutsman County, North Dakota 
PIN 22-0510000
Tract 124
The East Half of Northwest Quarter of Section 5 Township 142 Range 62, Stutsman County, North Dakota 
PIN 22-0521000
Tract 125
West Half of Northwest Quarter of Section 5 Township 142 Range 62, Stutsman County, North Dakota
PIN 22-0522000
Tract 126
Northeast Quarter of Section 6 Township 142 Range 62, Stutsman County, North Dakota 
PIN: 22-0610000
Tract 127
Southwest Quarter of Section 6 Township 142 Range 62, Stutsman County, North Dakota also being the same as Government Lots 6 and 7 (comprising the fractional Southwest Quarter) and East Half of Southwest Quarter
PIN: 22-0630000
Tract 128
Southeast Quarter of Section 6 Township 142 Range 62, Stutsman County, North Dakota 
PIN 22-0640000
Tract 129
Southwest Quarter of Section 5 Township 142 Range 62, Stutsman County, North Dakota
PIN 22-0530000

	
			
	 
	 
	 

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Tract 130
Northwest Quarter of Section 7 Township 142 Range 62, Stutsman County, North Dakota 
PIN 22-0720000
Tract 131
Northeast Quarter of Section 7 Township 142 Range 62, Stutsman County, North Dakota
PIN 22-0710000
Tract 132
Southwest Quarter of Section 7 Township 142 Range 62, Stutsman County, North Dakota
PIN 22-0730000
Tract 133
Southeast Quarter of Section 7 Township 142 Range 62, Stutsman County, North Dakota
PIN 22-0740000
Tract 134
Northeast Quarter of Section 8 Township 142 Range 62, Stutsman County, North Dakota
Tract 135
Northwest Quarter of Section 8 Township 142 Range 62, Stutsman County, North Dakota 
PIN 22-0820000
Tract 136
Southwest Quarter of Section 8 Township 142 Range 62, Stutsman County, North Dakota
PIN 22-0830000
Tract 137
Southeast Quarter of Section 8 Township 142 Range 62, Stutsman County, North Dakota
PIN 22-0840000

	
			
	 
	 
	 

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Tract 138
Northeast Quarter of Section 17 Township 142 Range 62, Stutsman County, North Dakota
PIN 22-1710000
Tract 139
Northwest Quarter of Section 17 Township 142 Range 62, Stutsman County, North Dakota
PIN 22-1720000
Tract 140 
Northwest Quarter of Section 18 Township 142 Range 62, Stutsman County, North Dakota
PIN 22-1820000
Tract 141
Northeast Quarter of Section 1 Township 142 Range 63, Stutsman County, North Dakota
PIN 02-011
Tract 142
Northwest Quarter of Section 1 Township 143 Range 63, Stutsman County, North Dakota
PIN 02-0120000
Tract 143
Northeast Quarter less Auditor’s Lot 3-1 Ashland Township of Section 3 Township 142 Range 63, Stutsman County, North Dakota also being the same as Auditor’s Lot 3-1, Ashland Township, within the Northeast Quarter of Section 3 Township 142 Range 63, Stutsman County, North Dakota
PIN 02-0310000
Tract 144
Northeast Quarter of Northwest Quarter of Section 4 Township 142 Range 63, Stutsman County, North Dakota, also described as Lot #3 of Section 4, Township 142 Range 63, Stutsman County, North Dakota
PIN 02-04210000

	
			
	 
	 
	 

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Tract 145
Southeast Quarter of Northwest Quarter of Section 4 Township 142 Range 63, Stutsman County, North Dakota 
PIN 02-0424000
Tract 146
West Half of Northwest Quarter of Section 4 Township 142 Range 63, Stutsman County, North Dakota
PIN 02-0422000
Tract 147
North Half of Southwest Quarter of Section 4 Township 142 Range 63, Stutsman County, North Dakota
PIN 02-0431000
Tract 148
Southeast Quarter of Section 3 Township 142 Range 63, Stutsman County, North Dakota less Part of the Southeast Quarter of Section 3 Township 142 Range 63, Stutsman County, North Dakota, more particularly described as follows: Beginning at the SW corner of the SE1⁄4 of Sec. 3, hence N.0°06’W. along the West line of said SE1⁄4, 442 feet, hence S.88°58’E. 527 feet, hence S. 0°54W. 432.5 feet to the South line of said SE1⁄4, thence West along the South line 591.3 feet to the point of beginning
PIN02-0340000
Tract 149
Southwest Quarter of Section 2 Township 142 Range 63, Stutsman County, North Dakota less Auditor’s Lot 2-1, Ashland Township and a tract Beginning at the SW corner of Sec. 2-142-63 and running 12 rods north in the west line of said Sec. 2; thence 36 rods due east; thence 12 rods due south; thence 36 rods west on south line of said section to the place of beginning
PIN 02-0230000
Tract 150
North Half of Southeast Quarter of Section 2 Township 142 Range 63, Stutsman County, North Dakota
PIN 02-0241000

	
			
	 
	 
	 

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Tract 151
South Half of Southeast Quarter of Section 2 Township 142 Range 63, Stutsman County, North Dakota
PIN 02-0243
Tract 152
East Half of Southwest Quarter of Section 11 Township 142 Range 63, Stutsman County, North Dakota
PIN 02-1131
Tract 153
Northwest Quarter of Section 12 Township 142 Range 63, Stutsman County, North Dakota
PIN 02-1220000
Tract 154
Northeast Quarter of Section 11 Township 142 Range 63, Stutsman County, North Dakota
PIN 02-1110000
Tract 155
Northwest Quarter of Section 11 Township 142 Range 63, Stutsman County, North Dakota
PIN 02-1120000
Tract 156
West Half of Southwest Quarter of Section 11 Township 142 Range 63, Stutsman County, North Dakota
PIN 02-1132000
Tract 157
Southeast Quarter of Section 11 Township 142 Range 63, Stutsman County, North Dakota
PIN 02-1140000

	
			
	 
	 
	 

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Tract 158
Southwest Quarter of Section 12 Township 142 Range 63, Stutsman County, North Dakota
PIN 02-1230000
Tract 159
Southeast Quarter of Section 12 Township 142 Range 63, Stutsman County, North Dakota
PIN 02-1240000
Tract 160
Northeast Quarter of Section 13 Township 142 Range 63, Stutsman County, North Dakota
PIN 02-1310000
Tract 161
Northeast Quarter of Section 14 Township 142 Range 63, Stutsman County, North Dakota
PIN 02-1410000
Tract 162
Northwest Quarter of Section 14 Township 142 Range 63, Stutsman County, North Dakota
PIN 02-1420000
Tract 163
Northwest Quarter of Section 13 Township 142 Range 63, Stutsman County, North Dakota 
PIN 02-1320000
Tract 164
Northwest Quarter of Section 24 Township 142 Range 63, Stutsman County, North Dakota 
PIN 02-2420000

	
			
	 
	 
	 

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Tract 165
Southwest Quarter of Section 13 Township 142 Range 63, Stutsman County, North Dakota 
PIN 02-1330000
Tract 166
Southwest Quarter of Section 24 Township 142 Range 63, Stutsman County, North Dakota 
PIN 02-2430000
Tract 167
Northwest Quarter of Section 25 Township 142 Range 63, Stutsman County, North Dakota 
PIN 02-2520000
Tract 168
Northeast Quarter of Section 25 Township 142 Range 63, Stutsman County, North Dakota
PIN 02-2510000
Tract 169
Lots 1 and 2 and Northeast Quarter of the Southwest Quarter (comprising the fractional Southwest Quarter) of Section 25 Township 142 Range 63 less Auditor’s Lot 25-3 Ashland Township, Stutsman County, North Dakota 
PIN 02-2531000
Tract 170
Southeast Quarter of Section 25 Township 142 Range 63, Stutsman County, North Dakota less and except Auditor’s Lots 25-1 and 25-2 Ashland Township also being the same as 
The Southeast Quarter (SE 1/4) of Section Twenty-five (25), Township One Hundred Forty-two (142), Range Sixty-three (63), Stutsman County North Dakota, less and except Auditors Lot 25-1 described as follows:
Commencing at the NE comer of said Section 25, thence S0°45’31 “E, along the east line of said Section 25, 3523.87 feet to the point of beginning; thence continuing S0°45’3 l “E along the east line of said Section 25, 463.08 feet; thence N88°43’31”W, 275.91 feet; 

	
			
	 
	 
	 

NAI-1500432715

thence N1°00’00”W, 98.85 feet; thence S89°00’00”W, 582.85 feet; thence N2°40’46”W, 398.18 feet; thence S88°39’10”E, 872.63 feet to the point of beginning. Said tract of land contains 8.033 acres more or less.
AND also less and except Auditors Lot 25-2 described as follows:
Commencing at the NE comer of said Section 25; thence 80°45’31 “E, along the east line of said Section 25, 3986.95 feet; thence N88°43’3 l “W, 275.91 feet; thence Nl 0 00’00”W, 98.85 feet; thence S89°00’00”W, 50.00 feet to the point of beginning; thence Sl 0 00’00’’E, 96.87 feet; thence N88°43 ‘31 “W, 531.05 feet; thence N2°40’ 46”W, 75.82 feet; thence N89°00’00”E, 532.85 feet to the point of beginning. Said tract of land contains 1.054 acres more or less. 
PIN 02-2540000
Tract 171
Auditor’s Lot 25-3 Ashland Township within Southwest Quarter of Section 25 Township 142 Range 63, Stutsman County, North Dakota
PIN 02-2531040
Tract 172
Northwest Quarter of Section 36 Township 142 Range 63, less Highway, Stutsman County, North Dakota
PIN 02-3620000
Tract 173
Southwest Quarter of Section 36 Township 142 Range 63, less a parcel of land in the SE1⁄4SW1⁄4 of Sec. 36-142-63, described as follows: Commencing at the south quarter corner of said Sec. 36, marked by a 3⁄4 inch iron T-Bar with a cap stamped 1177; thence west along the south boundary of said Sec. 36, a distance of 85 feet; thence north at a 90° angle 210 feet to the point of beginning; thence continuing north 50 feet; thence west at a 90° angle 50 feet; thence south at a 90° angle 50 feet; thence east at a 90° angle 50 feet to the point of beginning, Stutsman County, North Dakota; also less the South 53 feet of Southwest quarter (SW1⁄4 of Section 36 Township142 Range 63, except all that portion lying within 33 ft. of section line.
PIN 02-3630000
Tract 174
Lots 3 and 4 and South Half of Northwest Quarter of Section 1 Township 141 Range 63, less Highway, Stutsman County, North Dakota

	
			
	 
	 
	 

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PIN 18-0120000
Tract 175
Southwest Quarter of Section 1 Township 141 Range 63, less Highway, Stutsman County, North Dakota
PIN 18-0130000
Tract 176
Northeast Quarter of Southeast Quarter of Section 2 Township 141 Range 63, Stutsman County, North Dakota
PIN 18-0241000
Tract 177
Southeast Quarter of Southeast Quarter of Section 2 Township 141 Range 63, Stutsman County, North Dakota 
PIN 18-0244000
Tract 178
Northeast Quarter of Section 11 Township 141 Range 63, Stutsman County, North Dakota 
PIN 18-1110000
Tract 179
Southwest Quarter of Section 11 Township 141 Range 63, Stutsman County, North Dakota
PIN 18-1130000
Tract 180
Southeast Quarter of Section 11 Township 141 Range 63, Stutsman County, North Dakota
PIN 18-1140000
Tract 181
Northeast Quarter of Section 15 Township 141 Range 63 West, Stutsman County, North Dakota

	
			
	 
	 
	 

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PIN 18-1510000
Tract 182
Northwest Quarter of Section 15 Township 141 Range 63 West, Stutsman County, North Dakota 
PIN 18-1520000
Tract 183
Northeast Quarter of Section 16 Township 141 Range 63, Stutsman County, North Dakota
PIN 18-1610000
Tract 184
Northeast Quarter of Section 17 Township 141 Range 63, Stutsman County, North Dakota
PIN 18-1710000
Tract 185
Auditor’s Lot 3-1 Ashland Township within the Northeast Quarter of Section 3 Township 142 Range 63, Stutsman County, North Dakota
PIN 02-0311014
Tract 186
North Half of Southeast Quarter and Southeast Quarter of Southeast Quarter of Section 8 Township 140 Range 63, Stutsman County, North Dakota
PIN 03-0840000
Tract 187
Northeast Quarter less part of the NE1⁄4 of Sec. 20-140-63, LESS 7.32 acres more particularly described as follows:  Beginning at a point on the East line of the NE1⁄4 of Sec. 20-140-63, said point being S0°36’W 1,383.3 feet from the northeast corner of said NE1⁄4, hence from this point of beginning continuing S0°36’W along said east line 557 feet, hence N87°22’W 573 feet, hence N0°36’E 557 feet, hence S87°22’E 573 feet to the point of beginning of Section 20 Township 140 Range 63, Stutsman County, North Dakota
PIN 03-2010000

	
			
	 
	 
	 

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Tract 188
Southeast Quarter of Section 8 Township 141 Range 63, Stutsman County, North Dakota
PIN 18-0840000
Tract 189
Southwest Quarter of Section 9 Township 141 Range 63, Stutsman County, North Dakota
PIN 18-0930000
Tract 190
Southwest Quarter of Section 1 Township 142 Range 63, Stutsman County, North Dakota 
PIN 02-013000
Tract 191
Southeast Quarter of Section 17 Township 141 Range 63, Stutsman County, North Dakota less and except the north 935.8 feet of the West 625 feet of the East 700 feet of the Southeast Quarter
PIN 18-1740000
Tract 192
Auditor’s Lot 2-1, Ashland Township, being part of Southwest Quarter of Section 2 Township 142 Range 63, Stutsman County, North Dakota: more particularly described as follows:
Commencing at the SW corner of said Section 2; thence N0°00’00”W (assumed bearing) along the west line of said Section 2, 882.00 feet to the point of beginning; thence continuing N0°00’00”W along said west line, 845.00 feet; thence N87°40’00”E, 715. 59 feet; thence S0°00’00” W, parallel to the west line of said Section 2, 858.66 feet; thence S88°45’36”W, 715.17 feet to the point of beginning. Said tract contains 13.98 acres more or less.
PIN 02-0233020
Tract 193
Northwest Quarter less Auditor’s Lot 14-1 Fried township of Section 14, Township 141, Range 63, Stutsman County, North Dakota. 
PIN 18-1420000

	
			
	 
	 
	 

NAI-1500432715

Tract 194
Southeast Quarter of Section 9 Township 141 Range 63, Stutsman County, North Dakota less and except the following tracts: Commencing at the SE corner stake of Sec. 9-141-63 thence running due West 22 rods, thence running due North 18 rods, thence running due East 22 rods, thence running due South 18 rods to place of beginning and that part platted as the Town of Fried.
PIN 18-0940000
III.  PROPERTIES IN THE STATE OF SOUTH DAKOTA

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

South Renner Substation

South Renner Substation Tract 1 in the Northeast Quarter (NE 1/4) of Section 25, Township 102 North, Range 50 West of the 5th P.M. Minnehaha County, South Dakota, according to the recorded plat thereof.

TRANSMISSION LINES OF THE COMPANY

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

I.    IN THE STATE OF MINNESOTA

Line 5557    
    
Carver County
Sections 4, 5, 6, 7, 9, 10, 11 & 12 Township 115 North, Range 24 West
Sections 4, 5, 8, 9, 10, 11 & 12, Township 115 North, Range 25 West
Sections 32 & 33, Township 116 North, Range 25 West

Line 5564    

Hennepin County
Sections 35 & 36, Township 29 North, Range 24 West

    

	
			
	 
	 
	 

NAI-1500432715

Line 5565    

Hennepin County
Sections 35 & 36, Township 29 North, Range 24 West
An undivided tenant in common interest to Transmission Line No. 0954, such ownership interest to be in accordance with the Asset Ownership Percentages described in Section 3. 1. 3. 1. 2 of the Project Participation Agreement dated as of August 18, 2010, for the CapX2020 Transmission Project.
Douglas County
Section 7, Township 127 North, Range 35 West
Sections 1, 2, 3, 4, 5, 6 & 12, Township 127 North, Range 36 West
Sections 1, 2, 3, 4, 5 & 6, Township 127 North, Range 37 West
Section 1, Township 127 North, Range 38 West
Section 36, Township 128 North, Range 38 West

Stearns County
Section 6, Township 123 North, Range 29 West
Sections 3, 4, 5 & 6, Township 123 North, Range 30 West
Section 1, Township 123 North, Range 31 West
Sections 24, 25, 26, 27, 28, 29, 31 & 32, Township 124 North, Range 30 West
Sections 33, 34, 35 & 36, Township 124 North, Range 30 West
Sections 19, 28, 29, 30, 33, 34, 35 & 36, Township 124 North, Range 31 West
Sections 4, 9, 10, 15, 16, 21, 22, 23, 24, 26 & 27, Township 124 North, Range 32 West
Sections 4, 5, 6, 10, 15, 22, 27, 33 & 34, Township 125 North, Range 32 West
Sections 1, 3, 10, 11 &12, Township 125 North, Range 33 West
Sections 29, 30, 31, 32, 33 & 34, Township 126 North, Range 33 West
Sections 7, 18, 19, 20, 21, 25, 27, 28, 34, 35 & 36, Township 126 North, Range 34 West
Sections 1 & 12, Township 126 North, Range 35 West
Sections 26, 35 & 36, Township 127 North, Range 35 West

Todd County
Sections 7, 17, 18, 20, 21, 26, 27 & 28, Township 127 North, Range 35 West

An undivided tenant in common interest to Transmission Line No. 0956, such ownership interest to be in accordance with the Asset Ownership Percentages described in Section 3. 1. 3. 1. 2 of the Project Participation Agreement dated as of August 18, 2010, for the CapX2020 Transmission Project.

Brown County
Sections 5, 7 & 8, Township 111 North, Range 33 West
Sections 29 & 32, Township 112 North, Range 33 West
Lyon County
Section 30, Township 112 North, Range 39 West
Sections 25, 26, 27, 28, 34 & 35, Township 112 North, Range 40 West

	
			
	 
	 
	 

NAI-1500432715

Redwood County
Section 7, Township 111 North, Range 33 West
Sections 7, 8, 9, 10, 11 & 12, Township 111 North, Range 34 West
Sections 7, 8, 9, 10, 11 & 12, Township 111 North, Range 35 West
Sections 3, 4, 5, 6, 10, 11 & 12, Township 111 North, Range 36 West
Sections 1, 2, 3, 4 & 5, Township 111 North, Range 37 West
Section 6, Township 111 North, Range 38 West
Sections 1 & 2, Township 111 North, Range 39 West
Sections 31, 32 & 33, Township 112 North, Range 37 West
Sections 31, 32, 33, 34, 35 & 36, Township 112 North, Range 38 West
Sections 26, 27, 29, 30, 32, 33, 34 & 35, Township 112 North, Range 39 West

Renville County
Sections 8, 16, 17, 20, 21 & 29, Township 112 North, Range 33 West

An undivided tenant in common interest to Transmission Line No. 0957, such ownership interest to be in accordance with the Asset Ownership Percentages described in Section 3. 1. 3. 1. 2 of the Project Participation Agreement dated as of August 18, 2010, for the CapX2020 Transmission Project.
Brown County
Sections 5, 7 & 8, Township 111 North, Range 33 West
Sections 29 & 32, Township 112 North, Range 33 West
Lyon County
Section 30, Township 112 North, Range 39 West
Sections 25, 26, 27, 28, 34 & 35, Township 112 North, Range 40 West
Redwood County
Section 7, Township 111 North, Range 33 West
Sections 7, 8, 9, 10, 11 & 12, Township 111 North, Range 34 West
Sections 7, 8, 9, 10, 11 & 12, Township 111 North, Range 35 West
Sections 3, 4, 5, 6, 10, 11 & 12, Township 111 North, Range 37 West
Section 6, Township 111 North, Range 38 West
Sections 1 & 2, Township 111 North, Range 39 West
Sections 31, 32 & 33, Township 112 North, Range 37 West
Sections 31, 32, 33, 34, 35 & 36, Township 112 North, Range 38 West
Sections 26, 27, 29, 30, 32, 33, 34 & 35, Township 112 North, Range 39 West
Renville County
Sections 8, 16, 17, 20, 21 & 29, Township 112 North, Range 33 West
An undivided tenant in common interest to Transmission Line No. 0958, such ownership interest to be in accordance with the Asset Ownership Percentages described in Section 3. 1. 3. 1. 2 of the Project Participation Agreement dated as of August 18, 2010, for the CapX2020 Transmission Project.

	
			
	 
	 
	 

NAI-1500432715

Renville County
Sections 1, 2 & 3, Township 112 North, Range 32 West
Sections 2, 3, 4, 5 & 8, Township 112 North, Range 33 West
Section 31, Township 113 North, Range 31 West
Sections 31, 32, 33, 34 & 36, Township 113 North, Range 32 West
Sections 33, 34, 35 & 36, Township 113 North, Range 33 West

Scott County
Sections 16, 17, 18, 21, 22, 27, 34, 35 & 36, Township 113 North, Range 24 West
Sections 2, 3, 10, 11, 13, 14, 23 & 24, Township 113 North, Range 25 West
Section 35, Township 114 North, Range 25 West

Sibley County
Section 6, Township 112 North, Range 30 West
Sections 1, 2, 4, 5 & 6, Township 112 North, Range 31 West
Sections 5 & 6, Township 113 North, Range 26 West
Sections 1, 2, 3, 4, 5 & 6, Township 113 North, Range 27 West
Sections 1, 2, 3, 4, 7, 8, 9, 11 & 12, Township 113 North, Range 28 West
Sections 12, 13, 14, 15, 17, 18, 20, 21 & 22, Township 113 North, Range 29 West
Sections 13, 14, 15, 16, 17, 20, 24, 29 & 32, Township 113 North, Range 30 West
Sections 31, 32, 33, 34, 35 & 36, Township 113 North, Range 31 West
Sections 26, 27, 28, 29, 30 & 35, Township 114 North, Range 25 West
Sections 25, 26, 27, 31, 32, 33 & 34, Township 114 North, Range 26 West
Sections 32, 33, 35 & 36, Township 114 North, Range 27 West
An undivided tenant in common interest to Transmission Line No. 0959, such ownership interest to be in accordance with the Asset Ownership Percentages described in Section 3. 1. 3. 1. 2 of the Project Participation Agreement dated as of August 18, 2010, for the CapX2020 Transmission Project.
Renville County
Sections 1, 2 & 3, Township 112 North, Range 32 West
Sections 2, 3, 4, 5 & 8, Township 112 North, Range 33 West
Section 31, Township 113 North, Range 31 West
Sections 31, 32, 33, 34 & 36, Township 113 North, Range 32 West
Sections 33, 34, 35 & 36, Township 113 North, Range 33 West
Scott County
Sections 16, 17, 18, 21, 22, 27, 34, 35 & 36, Township 113 North, Range 24 West
Sections 2, 3, 10, 11, 13, 14, 23 & 24, Township 113 North, Range 25 West
Section 35, Township 114 North, Range 25 West
Sibley County
Section 6, Township 112 North, Range 30 West
Sections 1, 2, 4, 5 & 6, Township 112 North, Range 31 West
Sections 5 & 6, Township 113 North, Range 26 West
Sections 1, 2, 3, 4, 5 & 6, Township 113 North, Range 27 West

	
			
	 
	 
	 

NAI-1500432715

Sections 1, 2, 3, 4, 7, 8, 9, 11 & 12, Township 113 North, Range 28 West
Sections 12, 13, 14, 15, 17, 18, 20, 21 & 22, Township 113 North, Range 29 West
Sections 13, 14, 15, 16, 17, 20, 24, 29 & 32, Township 113 North, Range 30 West
Sections 31, 32, 33, 34, 35 & 36, Township 113 North, Range 31 West
Sections 26, 27, 28, 29, 30 & 35, Township 114 North, Range 25 West
Sections 25, 26, 27, 31, 32, 33 & 34, Township 114 North, Range 26 West
Sections 32, 33, 35 & 36, Township 114 North, Range 27 West
An undivided tenant in common interest to Transmission Line No. 0960, such ownership interest to be in accordance with the Asset Ownership Percentages described in Section 3. 1. 3. 1. 2 of the Project Participation Agreement dated as of August 18, 2010, for the CapX2020 Transmission Project.
Scott County
Sections 13, 14, 15, 16, 17 & 18, Township 113 North, Range 21 West
Sections 13, 19, 20, 21, 22, 23, 24, 25, 26, 28, 29 & 30, Township 113 North, Range 22 West
Sections 19, 20, 21, 22, 23, 25, 26 & 30, Township 113 North, Range 23 West
Sections 25 & 26, Township 113 North, Range 24 West
An undivided tenant in common interest to Transmission Line No. 0961, such ownership interest to be in accordance with the Asset Ownership Percentages described in Section 3. 1. 3. 1. 2 of the Project Participation Agreement dated as of August 18, 2010, for the CapX2020 Transmission Project.
Dakota County
Sections 2, 3, 4, 5, 7, 8, 10 & 11, Township 113 North, Range 19 West
Sections 7, 8, 9, 10, 11, 12, 13, 15, 16 & 18, Township 113 North, Range 20 West
Section 13, Township 113 North, Range 21 West
Sections 31 & 32, Township 114 North, Range 18 West
Sections 35 & 36, Township 114 North, Range 19 West

Scott County
Section 13, Township 113 North, Range 21 West
An undivided tenant in common interest to Transmission Line No. 0965, such ownership interest to be in accordance with the Asset Ownership Percentages described in Section 3. 1. 3. 1. 2 of the Project Participation Agreement dated as of August 18, 2010, for the CapX2020 Transmission Project.
Goodhue County
Sections 25, 26, 27, 28, 29, 30 & 36, Township 109 North, Range 15 West
Section 6, Township 108 North, Range 12 West
Sections 1, 2, 3, 4, 7, 8 & 9, Township 108 North, Range 13 West
Sections 6, 7, 8, 9, 10, 11 & 12, Township 108 North, Range 14 West

Wabasha County 

	
			
	 
	 
	 

NAI-1500432715

Sections 29, 30 & 31, Township 110 North, Range 9 West
Section 36, Township 110 North, Range 10 West
Sections 1, 2, 10, 15, 16, 20, 21, 29, 30 & 36, Township 109 North, Range 10 West
Sections 35 & 36, Township 109 North, Range 11 West
Sections 1, 2, 3, 4, 5 & 6, Township 108 North, Range 11 West
Sections 1, 2, 3, 4, 5 & 6, Township 108 North, Range 12 West
An undivided tenant in common interest to Transmission Line No. 0972, such ownership interest to be in accordance with the Asset Ownership Percentages described in Section 3. 1. 3. 1. 2 of the Project Participation Agreement dated as of August 18, 2010, for the CapX2020 Transmission Project.
Lincoln County
Section 6, Township 112 North, Range 43 West
Sections 1, 2, 3, 4, 5 & 6, Township 112 North, Range 44 West
Sections 1, 2, 3, 5, 6, 7, 8, 9 & 10, Township 112 North, Range 45 West
Sections 1, 2, 3, 4, 5, 8, 17, 20, 28, 29, 30 & 32, Township 112 North, Range 46 West
Sections 25 & 26, Township 112 North, Range 47 West
Section 31, Township 113 North, Range 43 West
Sections 28, 29, 31 & 32, Township 112 North, Range 40 West
Sections 1, 2, 3, 4, 5, 6, 11, 12, 13, 14, 23, 24, 26, 35 & 36, Township 112 North, Range 41 West
Sections 1, 2, 3, 4, 5 & 6, Township 112 North, Range 42 West
Sections 1, 3 & 6, Township 112 North, Range 43 West
Sections 31, 32, 34 & 35, Township 113 North, Range 41 West
Section 31, Township 11 North, Range 43 West
Sections 31, 32, 33, 34, 35 & 36, Township 113 North, Range 43 West
An undivided tenant in common interest to Transmission Line No. 5310, such ownership interest to be in accordance with the Asset Ownership Percentages described in Section 3. 1. 3. 1. 2 of the Project Participation Agreement dated as of August 18, 2010, for the CapX2020 Transmission Project.
Goodhue County
Sections 30 & 31, Township 109 North, Range 15 West
Section 36, Township 109 North, Range 16 West

Olmsted County
Sections 7 & 8, Township 107 North, Range 14 West
Sections 2, 11 & 12, Township 107 North, Range 15 West
Sections 4, 6, 7, 8, 9, 10, 15, 22, 26, 27 & 35, Township 108 North, Range 15 West
Section 36, Township 109 North, Range 16 West
An undivided tenant in common interest to Transmission Line No. 5558, such ownership interest to be in accordance with the Asset Ownership Percentages described in Section 3. 1. 3. 1. 2 of the Project Participation Agreement dated as of August 18, 2010, for the CapX2020 Transmission Project.

	
			
	 
	 
	 

NAI-1500432715

Renville County
Sections 5, 6 & 8, Township 112 North, Range 33 West
Section 1, Township 112 North, Range 34 West

II.    IN THE STATE OF SOUTH DAKOTA

An undivided tenant in common interest to Transmission Line No. 0972, such ownership interest to be in accordance with the Asset Ownership Percentages described in Section 3. 1. 3. 1. 2 of the Project Participation Agreement dated as of August 18, 2010, for the CapX2020 Transmission Project.
Brookings County
Sections 3, 4, 9, 16, 21, 28, 29 & 30, Township 111 North, Range 47 West
Section 25, Township 111 North, Range 48 West
Section 27 & 34, Township 112 North, Range 47 West

ELECTRIC DISTRIBUTION SYSTEMS
Certain electric distribution systems of the Company, including substations, transformers, switchboards, towers, poles, wires, insulators, subways, trenches, manholes, cables and other appliances and equipment and all other property, real or personal, forming a part of, appertaining to, or used, occupied or enjoyed in connection with such distribution systems, or any of them, and all rights of way, easements, permits, privileges, franchises and statutory rights in, or relating to, the construction, maintenance or operation thereof, through, over, under, or any private property or any public streets or highways within as well as without the corporate limits of any municipal corporation, such as systems being more particularly described as follows:
            
I.    IN THE STATE OF MINNESOTA

ANOKA COUNTY
	
		
	Hilltop
	Lent Twp.

	Linwood Twp.
	Mounds View

	New Brighton
	Wyoming Twp.

BENTON COUNTY
	
		
	Brockway Twp.
	Gilmanton Twp.

	Mayhew Lake Twp.
	Minden Twp.

	St. George Twp.
	Watab Twp.

BLUE EARTH COUNTY
        	
		
	Beauford
	Danville Twp.

	Decoria Twp.
	Garden City Twp.

	
			
	 
	 
	 

NAI-1500432715

        	
		
	Jamestown Twp.
	Kasota Twp.

	Le Ray Twp.
	Lime Twp.

	Lincoln Twp.
	Lyra Twp.

	McPherson Twp.
	Medo Twp.

	Smiths Mill
	 

BROWN COUNTY
        	
		
	Leavenworth Twp.
	Milford Twp.

	Prairieville Twp.
	 

CARVER COUNTY
        	
		
	Benton Twp.
	Camden Twp.

	Chaska
	Dahlgren Twp.

	Faxon Twp.
	Franklin Twp.

	Hancock Twp.
	Hollywood Twp.

	Laketown Twp.
	San Francisco Twp.

	Shorewood
	Winsted Twp.

	Young America Twp.
	 

CHIPPEWA COUNTY
        	
		
	Edwards Twp.
	Granite Falls Twp.

	Leenthrop Twp.
	Lone Tree Twp.

	Rheiderland Twp.
	Rosewood Twp.

	Sparta Twp.
	Stoneham Twp.

	Tunsberg Twp.
	 

CHISAGO COUNTY
        	
		
	Amador Twp.
	Kost

	Lent Twp.
	North Branch

	Palmdale
	 

CLAY COUNTY
        	
		
	Alliance Twp.
	Barnesville Twp.

	Elkton Twp.
	Elmwood Twp.

	Flowing Twp.
	Holy Cross Twp.

	Keene Twp.
	Kurtz Twp.

	Moland Twp.
	Morken Twp.

	Oakport Twp.
	Riverton Twp.

	Spring Prairie Twp.
	Viding Twp.

	
			
	 
	 
	 

NAI-1500432715

DAKOTA COUNTY
        	
		
	Apple Valley
	Empire Twp.

	Eureka Twp.
	Fort Snelling

	Greenvale Twp.
	Marshan Twp.

	Nininger Twp.
	Northfield

	Sciota Twp.
	Webster Twp.

DODGE COUNTY
	
		
	Ashland Twp.
	Canisteo Twp.

	Cherry Grove Twp.
	Concord Twp.

	Ellington Twp.
	Kenyon Twp.

	Milton Twp.
	Ripley Twp.

	Roscoe Twp.
	 

DOUGLAS COUNTY
        	
		
	Gordon Twp.
	Orange Twp.

FARIBAULT COUNTY
        	
		
	Danville Twp.
	Lura Twp.

	Mapleton Twp.
	 

FREEBORN COUNTY
        	
		
	Bancroft Twp.
	Bath Twp.

	New Richland Twp.
	 

GOODHUE COUNTY
        	
		
	Belle Creek Twp.
	Belvidere Twp.

	Cherry Grove Twp.
	Featherstone Twp.

	Florence Twp.
	Hay Creek Twp.

	Holden Twp.
	Keyon Twp.

	Lake City
	Minneola Twp.

	Northfield Twp.
	Randolph Twp.

	Roscoe Twp.
	Warsaw Twp.

HENNEPIN COUNTY
        	
		
	Chanhassen
	Columbia Heights

	Coon Rapids
	Fort Snelling

	Franklin Twp.
	Fridley

	Greenwood
	Hanover

	Lauderdale
	Maple Grove

	
			
	 
	 
	 

NAI-1500432715

        	
		
	New Brighton
	Roseville

	St. Michael
	St. Anthony

	Watertown Twp.
	University of Minnesota

	MSP International Airport
	 

HOUSTON COUNTY
        	
		
	Dresbach Twp.
	 

ISANTI COUNTY
        	
		
	Lent Twp.
	Oxford Twp.

KANDIYOHI COUNTY
        	
		
	Burbank Twp.
	East Lake Lillian Twp.

	Edwards Twp.
	Gennessee Twp.

	Holland Twp.
	Irving Twp.

	Lake Henry Twp.
	Roseville Twp.

LAC QUI PARLE COUNTY
        	
		
	Camp Release Twp.
	Sparta Twp.

	Stony Run Twp.
	 

LE SUEUR COUNTY
        	
		
	Kasota Twp.
	Lanesburgh Twp.

	Morristown Twp.
	New Prague

	Tyrone Twp.
	 

LINCOLN COUNTY
        	
		
	Hope Twp.
	Lake Benton Twp.

LYON COUNTY
        	
		
	Custer Twp.
	Lucas Twp.

	Lyons Twp.
	Monroe Twp.

	Rock Lake Twp.
	Shelburne Twp.

	Springdale Twp.
	 

McLEOD COUNTY
        	
		
	Bergen Twp.
	Brownston

	Collins Twp.
	Glencoe Twp.

	Hale Twp.
	Helen Twp.

	Rich Valley Twp.
	Round Grove Twp.

	
			
	 
	 
	 

NAI-1500432715

        	
		
	Sumter Twp.
	 

MEEKER COUNTY
        	
		
	Action Twp.
	Collinwood Twp.

	Eden Lake Twp.
	Eden Valley

	Forest Prairie Twp.
	Maine Prairie Twp.

	Manannah Twp.
	Paynesville Twp.

	Stockholm Twp.
	Swede Grove Twp.

	Union Grove Twp.
	Watkins

MOWER COUNTY
        	
		
	Hayfield Twp.
	 

MURRAY COUNTY
        	
		
	Chanarambie Twp.
	Fenton Twp.

	Leeds Twp.
	Monroe Twp.

	Murray Twp.
	Shetek Twp.

	Springdale Twp.
	 

NICOLLET COUNTY
        	
		
	Belgrade Twp.
	Brighton Twp.

	Granby Twp.
	Lime Twp.

	Mankato
	North Mankato

NORMAN COUNTY
        	
		
	Ada
	McDonaldsville Twp.

	Winchester Twp.
	 

OLMSTED COUNTY
        	
		
	Kalmar Twp.
	Mantorville Twp.

	Milton Twp.
	New Haven Twp.

	Pine Island
	Roscoe Twp.

	Salem Twp.
	 

PINE COUNTY
        	
		
	Rock Creek
	 

PIPESTONE COUNTY
        	
		
	Aetna Twp.
	Altona Twp.

	Burke Twp.
	Eden Twp.

	Elmer Twp.
	Grange Twp.

	
			
	 
	 
	 

NAI-1500432715

        	
		
	Gray Twp.
	Hope Twp.

	Osborne Twp.
	Rock Twp.

	Sweet Twp.
	 

POPE COUNTY
        	
		
	Bangor Twp.
	Ben Wade Twp.

	Brooten
	Lake Johanna Twp.

	Leven Twp.
	Lowry

	Minnewaska Twp.
	Orange Twp.

	Reno Twp.
	White Bear Lake Twp.

RAMSEY COUNTY
        	
		
	Blaine
	Circle Pines

	Grant Twp.
	Hugo

	Lino Lakes
	St Anthony

REDWOOD COUNTY
        	
		
	Brookville Twp.
	Kintire Twp.

	Paxton Twp.
	Prairieville Twp.

	Sherman Twp.
	Springdale Twp.

	Swedes Forest
	Three Lakes Twp.

RENVILLE COUNTY
        	
		
	Birch Cooley Twp.
	Collins Twp.

	Crooks Twp.
	Emmet Twp.

	Ericson Twp.
	Hawk Creek Twp.

	Melville Twp.
	Moltke Twp.

	Norfolk Twp.
	Preston Lake Twp.

	Sacred Heart Twp.
	Stewart

	Troy Twp.
	Wang Twp.

	Wellington Twp.
	 

RICE COUNTY
        	
		
	Bridgewater Twp.
	Dennison

	Forest Twp.
	Greenvale Twp.

	New Market Twp.
	Richland Twp.

	Sciota Twp.
	Shieldsville Twp.

	Walcott Twp.
	Waterford Twp.

	Wells Twp.
	Wheatland Twp.

	Wheeling Twp.
	 

	
			
	 
	 
	 

NAI-1500432715

ROCK COUNTY
        	
		
	Eden Twp.
	Jasper

	Rose Dell Twp.
	 

SCOTT COUNTY
        	
		
	Burnsville
	Credit River Twp.

	Helena Twp.
	Sand Creek Twp.

	Spring Lake Twp.
	 

SHERBURNE COUNTY
        	
		
	Haven Twp.
	Lynden Twp.

SIBLEY COUNTY
        	
		
	Arlington
	Bismark Twp.

	Faxon Twp.
	Glencoe Twp.

	Grafton Twp.
	Moltke Twp.

	Preston Lake Twp.
	Severance Twp.

	Sibley Twp.
	Washington Lake Twp.

	Young America Twp.
	 

STEARNS COUNTY
        	
		
	Brockway Twp.
	Clearwater

	Collegeville Twp.
	Crow Lake Twp.

	Eden Lake Twp.
	Eden Valley

	Getty Twp.
	Grove Twp.

	Haven Twp.
	Holdingford

	Krain Twp.
	Le Sauk Twp.

	Luxemburg Twp.
	Lynden Twp.

	Main Prairie Twp.
	Melrose Twp.

	Millwood Twp.
	Munson Twp.

	North Fork Twp.
	Oak Twp.

	Saint Martin Twp.
	Saint Wendel Twp.

	Sauk Centre
	Sauk Rapids

	Wakefield Twp.
	Watab Twp.

	Zion Twp.
	 

STEELE COUNTY
        	
		
	Deerfield Twp.
	Lemond Twp.

	
			
	 
	 
	 

NAI-1500432715

TODD COUNTY
        	
		
	Gordon Twp.
	Osakis

WABASHA COUNTY
        	
		
	Bellechester
	Belvidere Twp.

	Chester Twp.
	Florence Twp.

	Gillford Twp.
	Glasgow Twp.

	Greenfield Twp.
	Highland Twp.

	Hyde Park Twp.
	Lake Twp.

	Mount Pleasant Twp.
	Oakwood Twp.

	Pepin Twp.
	Pine Island Twp.

	Watopa Twp.
	 

WASECA COUNTY
        	
		
	Alton Twp.
	Blooming Grove Twp.

	Deerfield Twp.
	Elysian Twp.

	Freedom Twp.
	Iosco Twp.

	Janesville
	Lemond Twp.

	Meriden Twp.
	Morristown Twp.

	New Richland Twp.
	Saint Mary Twp.

	Waseca
	Waterville Twp.

	Wilton Twp.
	Woodville Twp.

WASHINGTON COUNTY
        	
		
	Chisago Lake Twp.
	Denmark Twp.

	Franconia Twp.
	Grant Twp.

	Grey Cloud Island Twp.
	Inver Grove Heights

	Maplewood
	May Twp.

	New Scandia Twp.
	North St. Paul

	Point Douglas
	Somerset

	South Saint Point
	West Lakeland Twp.

	White Bear Lake
	Withrow

	Wyoming Twp.
	 

WINONA COUNTY
        	
		
	Dresbach
	Hillsdale Twp.

	Homer Twp.
	Minneiska

	Mount Vernon Twp.
	New Hartford Twp.

	Nodine
	Norton Twp.

	Pleasant Hill Twp.
	Ridgeway

	Whitewater Twp.
	Wilson Twp.

	Wiscoy Twp.
	 

	
			
	 
	 
	 

NAI-1500432715

WRIGHT COUNTY
        	
		
	Albion Twp.
	Big Lake Twp.

	Buffalo
	Clear Lake Twp.

	Corinna Twp.
	Delano

	Franklin Twp.
	Maple Lake Twp.

	Marysville
	Middleville Twp.

	Rockford
	Rogers

	Stockholm Twp.
	Victor Twp.

	Waverly
	Woodland Twp.

YELLOW MEDICINE COUNTY
        	
		
	Friendship Twp.
	Granite Falls

	Libson Twp.
	Minnesota Falls Twp.

	Montevideo
	Posen Twp.

	Sandnes Twp.
	Sparta Twp.

	Stony Run Twp.
	Chisago Lake Twp.

	Franconia Twp.
	Wyoming Twp.

II.    IN THE STATE OF NORTH DAKOTA

CASS COUNTY
        	
		
	Barnes
	Mapleton Twp.

	Reed Twp.
	Stanley Twp.

GRAND FORKS COUNTY
        	
		
	Allendale Twp.
	Americus Twp.

	Arvilla Twp.
	Buxton Twp.

	Falconer Twp.
	Michigan Twp.

	Stavanger Twp.
	Walle Twp.

McHENRY COUNTY
        	
		
	Velva Twp.
	 

TRAILL COUNTY
        	
		
	Ervin Twp.
	Garfield Twp.

	Lindaas Twp.
	Reynolds

	Roseville Twp.
	Viking Twp.

	
			
	 
	 
	 

NAI-1500432715

WARD COUNTY
        	
		
	Des Lacs
	Foxholm Twp.

	Harrison Twp.
	Kirkelie Twp.

	Mandan Twp.
	Minot

	Nedrose Twp.
	Moorhead

III.    IN THE STATE OF SOUTH DAKOTA
BROOKINGS COUNTY
        	
		
	Sherman
	 

HANSON COUNTY
        	
		
	Jasper Twp.
	Jefferson Twp.

	Pleasant Twp.
	Wayne Twp.

HUTCHINSON COUNTY
        	
		
	Silver Lake Twp.
	 

LAKE COUNTY
        	
		
	Badus Twp.
	Concord Twp.

	Farmington Twp.
	Herman Twp.

LINCOLN COUNTY
        	
		
	Dayton Twp.
	Delapre Twp.

	Grant Twp.
	Lynn Twp.

	Perry Twp.
	Sioux Falls

	Springdale Twp.
	 

McCOOK COUNTY
        	
		
	Grant Twp.
	Greenland Twp.

	Jefferson Twp.
	Pearl Twp.

	Spring Valley Twp.
	Sun Prairie Twp.

	Union Twp.
	 

MINER COUNTY
        	
		
	Clearwater Twp.
	Clinton Twp.

	Howard Twp.
	Miner Twp.

	Redstone Twp.
	Vermillion Twp.

	Winfred Twp.
	 

	
			
	 
	 
	 

NAI-1500432715

MINNEHAHA COUNTY
        	
		
	Benton Twp.
	Brandon Twp.

	Edison Twp.
	Highland Twp.

	Lyons Twp.
	Mapleton Twp.

	Palisade Twp.
	Split Rock Twp.

	Sverdrup Twp.
	Valley Springs

	Wall Lake Twp.
	Wayne Twp.

	Wellington Twp.
	 

MOODY COUNTY
        	
		
	Enterprise Twp.
	 

SANBORN COUNTY

        	
		
	Diana Twp.
	Logan Twp.

	Union Twp
	 

TURNER COUNTY
        	
		
	Germantown Twp.
	Grant Twp.

	Middleton Twp.
	Perry Twp.

	Rosefield Twp.
	 

	
			
	 
	 
	 

NAI-1500432715

SCHEDULE B
Recording Information Regarding Supplemental and Restated Trust Indenture dated May 1, 1988
State of Minnesota	
				
	County
	Date of Recording
	Document Number
	Book/Page (if applicable)

	Anoka (Torrens)
	11/29/1988
	181145
	 

	Anoka (Abstract)
	11/29/1988
	832568
	 

	Benton (Abstract)
	11/29/1988
	190574
	 

	Blue Earth (Torrens)
	11/28/1988
	37394
	 

	Blue Earth (Abstract)
	11/28/1988
	304cr087
	 

	Brown (Abstract)
	11/29/1988
	251892
	 

	Carver (Abstract)
	11/28/1988
	101412
	 

	Carver (Torrens)
	11/28/1988
	59272
	 

	Chippewa (Abstract)
	11/28/1988
	208437
	Book 124, Page 253

	Chisago (Abstract)
	11/28/1988
	214037
	 

	Clay (Abstract)
	11/28/1988
	418408
	 

	Dakota (Abstract)
	11/28/1988
	867502
	 

	Dakota (Torrens)
	11/28/1988
	210144
	 

	Dodge (Abstract)
	11/29/1988
	75435
	Book 109, Page 814

	Dodge (Torrens)
	11/29/1988
	1780
	 

	Douglas (Abstract)
	11/28/1988
	94699
	 

	Goodhue (Abstract)
	11/28/1988
	324383
	 

	Hennepin (Abstract)
	11/23/1988
	5480278
	 

	Hennepin (Torrens)
	11/23/1988
	1977022
	 

	Houston (Abstract)
	11/28/1988
	156468
	Book 353, Page 444

	Kandiyohi (Abstract)
	11/28/1988
	337360
	 

	LeSueur (Abstract)
	11/28/1988
	212560
	 

	Lincoln (Abstract)1
	12/10/1993
	140656
	Book 126, Page 62

	Lyon (Abstract)
	11/28/1988
	72618
	Book 273, Page 167

	Martin (Abstract)
	4/29/2015
	2015R-424949
	 

	McLeod (Abstract)
	11/29/1988
	225742
	Book 259, Page 425

	McLeod (Torrens)
	11/29/1988
	13106
	 

	Meeker (Abstract)
	11/28/1988
	226716
	Book 579, Page 272

	Morrison (Abstract)
	4/28/2015
	535016
	 

	Mower (Abstract)
	11/29/1988
	390965
	Book 443, Page 475

	Murray (Abstract)
	11/28/1988
	179222
	 

	Nicollet (Abstract)
	11/28/1988
	173585
	Book 232, Page 280

	Nobles (Abstract)2
	6/21/2007
	314645
	 

	Norman (Abstract)
	11/29/1988
	180366
	 

	
			
	 
	 
	 

	 
	1 Recording information is regarding the Supplemental Trust Indenture dated December 1, 1993

	 
	2 Recording information is regarding the Supplemental Trust Indenture dated June 1, 2007

	
			
	 
	 
	 

NAI-1500432715

	
				
	County
	Date of Recording
	Document Number
	Book/Page (if applicable)

	Pipestone (Abstract)
	11/29/1988
	158524
	Book 277, Page 311

	Pope (Abstract)
	11/28/1988
	175439
	Book 88, Page 31

	Ramsey (Abstract)
	11/28/1988
	2470568
	 

	Ramsey (Torrens)
	11/28/1988
	884195
	 

	Redwood (Abstract)
	11/28/1988
	256933
	Book 212, Page 713

	Renville (Abstract)
	11/29/1988
	269077
	Book 200, Page 46

	Rice (Abstract)
	11/29/1988
	334010
	Book 503, Page 69

	Rock (Abstract)3
	3/14/2008
	168525
	 

	Roseau (Abstract)
	9/16/1991
	198662
	Book 373, Page 210

	Sherburne (Abstract)
	11/29/1988
	224494
	 

	Sherburne (Torrens)
	11/29/1988
	11080
	 

	Steele (Abstract)4
	6/29/2000
	283212
	 

	Scott (Abstract)
	11/28/1988
	253860
	 

	Scott (Torrens)
	11/28/1988
	44347
	 

	Sibley (Abstract)
	11/28/1988
	143383
	Book 99, Page 261

	Stearns (Abstract)
	11/29/1988
	649221
	 

	Stearns (Torrens)
	11/29/1988
	18808
	 

	Wabasha (Abstract)
	11/28/1988
	185033
	Book 149, Page 378

	Waseca (Abstract)
	11/29/1988
	179370
	Book 131, Page 7

	Washington (Abstract)
	11/28/1988
	588235
	 

	Washington (Torrens)
	11/28/1988
	93239
	 

	Watonwan (Abstract)
	11/29/1988
	154112
	 

	Winona (Abstract)
	11/28/1988
	323976
	 

	Winona (Torrens)
	11/28/1988
	323976
	 

	Wright (Abstract)
	11/28/1988
	450576
	Book 218, Page 950

	Wright (Torrens)
	11/28/1988
	7562
	 

	Yellow Medicine (Abstract)
	11/29/1988
	194226
	Book 182, Page 566

State of North Dakota
	
			
	County
	Date of Recording
	Document Number

	Cass
	11/28/1988
	695915

	Grand Forks
	11/29/1988
	444310

	Traill
	11/29/1988
	131627

	Ward
	11/29/1988
	669918

	
			
	 
	 
	 

	 
	3 Recording information is regarding the Supplemental Trust Indenture dated March 1, 2008

	 
	4 Recording information is regarding the Supplemental Trust Indenture dated June 1, 2000

	
			
	 
	 
	 

NAI-1500432715

This instrument was drafted by Northern States Power Company, 414 Nicollet Mall, Minneapolis, Minnesota 55401.
Tax statements for the real property described in this instrument should be sent to Northern States Power Company, 414 Nicollet Mall, Minneapolis, Minnesota 55401.
Return recorded document(s) to Bonnie Anderson, Xcel Energy, 414 Nicollet Mall (MP-7B), Minneapolis, Minnesota 55401.

	
			
	 
	 
	 

NAI-1500432715form8k081015ex10-1.htm

Brisset Beer International, Inc.

REGULATION S SUBSCRIPTION AGREEMENT

SECTION 1

1.1           Subscription.

(a)           The undersigned, intending to be legally bound, hereby irrevocably subscribes for and agrees to purchase 65,000 Units (hereafter defined) to be issued by Brisset Beer International, Inc., a Nevada corporation (the "Company"), in an offshore transaction negotiated outside the U.S. and to be consummated and closed outside the U.S.  The Company is directly offering for sale 65,000 Units for an aggregate gross proceeds of $19,500.00. The Units are being sold pursuant to Regulation S of the Securities Act of 1993, as amended (the “Securities Act”).

A “Unit” shall consist of the following:

	
  

	
(1)

	
one share of Common Stock (a “Purchased Share”);

	
  

	
(2)

	
one Class A Warrant, as further described in the Class A Warrant Agreement attached hereto as Exhibit A, entitling the undersigned to purchase one share of Common Stock at an exercise price of $0.35 per share, expiring on August 7, 2020 (a “Class A Warrant”); and

	
  

	
(3)

	
one Class B Warrant, as further described in the Class B Warrant Agreement attached hereto as Exhibit B, entitling the undersigned to purchase one share of Common Stock at an exercise price of $0.40 per share, expiring on August 7, 2020 (a “Class B Warrant, and together with the Class A Warrant, the “Warrants”).

(b)           For purposes of this Subscription Agreement:

	
  

	
(1)

	
“Common Stock” means the common stock of the Company.

	
  

	
(2)

	
“Securities” means the Purchased Shares, the Warrants and the Warrant Shares.

	
  

	
(3)

	
“Warrant Shares” means the shares of Common Stock issuable upon due exercise of the Warrants.

  

  

  

1.2           Purchase of Units.

The undersigned understands and acknowledges that the purchase price to be remitted to the Company in exchange for the Units shall be Nineteen Thousand Five Hundred dollars ($19,500) or $0.30 per Unit.  Simultaneous with the execution and delivery of this Agreement, including the Investor Questionnaire annexed hereto, the undersigned shall deliver to the Company the aforementioned purchase price by check made payable to the Company or wire transfer of immediately available funds. Wire instructions are attached hereto as Appendix A.

1.3           Acceptance or Rejection.

(a)           The undersigned understands and agrees that the Company reserves the right to reject this subscription for the Units if, in its reasonable judgment, it deems such action in the best interest of the Company, at any time prior to the Closing, notwithstanding prior receipt by the undersigned of notice of acceptance of the undersigned's subscription.

(b)           The undersigned understands and agrees that its subscription for the Units is irrevocable.

(c)           In the event the sale of the Units subscribed for by the undersigned is not consummated by the Company for any reason (in which event this Subscription Agreement shall be deemed to be rejected), this Subscription Agreement and any other agreement entered into between the undersigned and the Company relating to this subscription shall thereafter have no force or effect and the Company shall promptly return or cause to be returned to the undersigned the purchase price remitted to the Company by the undersigned, without interest thereon or deduction therefrom, in exchange for the Units.

SECTION 2

2.1           Closing.   The closing (the "Closing") of the purchase and sale of the Units, shall occur simultaneously with the acceptance by the Company of the undersigned's subscription, as evidenced by the Company's execution of this Subscription Agreement.

SECTION 3

3.1           Investor Representations and Warranties.

The undersigned hereby acknowledges, represents and warrants to, and agrees with, the Company and its affiliates as follows:

(a)           The undersigned is acquiring the Securities for his own account as principal, not as a nominee or agent, for investment purposes only, and not with a view to, or for, resale, distribution or fractionalization thereof in whole or in part and no other person has a direct or indirect beneficial interest in such Securities or any portion thereof.  Further, the undersigned does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to such person or to any third person, with respect to the Securities for which the undersigned is subscribing or any part of the Securities.

  

  

  

(b)           The undersigned has full power and authority to enter into this Agreement, the execution and delivery of this Agreement has been duly authorized, if applicable, and this Agreement constitutes a valid and legally binding obligation of the undersigned.

(c)           The undersigned is not subscribing for the Securities as a result of or subsequent to any advertisement, article, notice or other communication published in any newspaper, magazine or similar media or broadcast over television or radio, or presented at any seminar or meeting, or any solicitation of a subscription by person previously not known to the undersigned in connection with investment securities generally.

(d)           The undersigned understands that the Company is under no obligation to register the Securities under the Securities Act, or to assist the undersigned in complying with the Securities Act or the securities laws of any state of the United States or of any foreign jurisdiction.

(e)           The undersigned is (i) experienced in making investments of the kind described in this Agreement and the related documents, (ii) able, by reason of the business and financial experience of its officers (if an entity) and professional advisors (who are not affiliated with or compensated in any way by the Company or any of its affiliates or selling agents), to protect its own interests in connection with the transactions described in this Agreement, and the related documents, and (iii) able to afford the entire loss of its investment in the Securities. The undersigned further understands that the Company currently has no business or operations and although it is contemplating entering the field of clean energy technologies, the Company currently has no agreements or arrangements with any persons in connection therewith.

(f)           The undersigned acknowledges his understanding that the offering and sale of the Purchased Shares, Warrants and the issuance of the Warrant Shares upon due exercise of the Warrants is intended to be exempt from registration under the Securities Act.  In furtherance thereof, in addition to the other representations and warranties of the undersigned made herein, the undersigned further represents and warrants to and agrees with the Company and its affiliates as follows:

	
  

	
(i)

	
The undersigned realizes that the basis for the exemption may not be present if, notwithstanding such representations, the undersigned has in mind merely acquiring the Securities for a fixed or determinable period in the future, or for a market rise, or for sale if the market does not rise.  The undersigned does not have any such intention;

	
  

	
(ii)

	
The undersigned has the financial ability to bear the economic risk of his investment, has adequate means for providing for his current needs and personal contingencies and has no need for liquidity with respect to his investment in the Company;

	
  

	
(iii)

	
The undersigned has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of the prospective investment in the Securities.  The undersigned also represents it has not been organized for the purpose of acquiring the Securities;

  

  

  

	
  

	
(iv)

	
The undersigned has been provided an opportunity for a reasonable period of time prior to the date hereof to obtain additional information concerning the offering of the Securities, the Company and all other information to the extent the Company possesses such information or can acquire it without unreasonable effort or expense;  and

	
  

	
(v)

	
The undersigned has carefully reviewed all of the Company’s filings under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

(g)           The undersigned is not relying on the Company, or its affiliates or agents with respect to economic considerations involved in this investment.  The undersigned has relied solely on its own advisors.

(h)           No representations or warranties have been made to the undersigned by the Company, or any officer, employee, agent, affiliate or subsidiary of the Company, other than the representations of the Company contained herein, and in subscribing for Units the undersigned is not relying upon any representations other than those contained herein.

(i) Any resale of the Securities during the ‘distribution compliance period’ as defined in Rule 902(f) to Regulation S shall only be made in compliance with exemptions from registration afforded by Regulation S.  Further, any such sale of the Securities in any jurisdiction outside of the United States will be made in compliance with the securities laws of such jurisdiction.  The Investor will not offer to sell or sell the Securities in any jurisdiction unless the Investor obtains all required consents, if any.

(j)           The undersigned understands that the Securities are being offered and sold in reliance on an exemption from the registration requirements of United States federal and state securities laws under Regulation S promulgated under the Securities Act and that the Company is relying upon the truth and accuracy of the representations, warranties, agreements, acknowledgments and understandings of the Investor set forth herein in order to determine the applicability of such exemptions and the suitability of the Investor to acquire the Securities.  In this regard, the undersigned represents, warrants and agrees that:

 

 

	
1.  

	
The undersigned is not a U.S. Person (as defined below) and is not an affiliate (as defined in Rule 501(b) under the Securities Act) of the Company and is not acquiring the Securities for the account or benefit of a U.S. Person.  A U.S. Person means any one of the following:

 

 

  

  

  

 

 

 

 

 

 

 

	
  

	
(A) organized or incorporated under the laws of any foreign jurisdiction; and

 

 

(B) formed by a U.S. person principally for the purpose of investing in securities not registered under the Securities Act, unless it is organized or incorporated, and owned, by accredited investors (as defined in Rule 501(a) under the Securities Act) who are not natural persons, estates or trusts.

 

	
2.  

	
At the time of the origination of contact concerning this Agreement and the date of the execution and delivery of this Agreement, the undersigned was outside of the United States.

 

 

	
3.  

	
The undersigned will not, during the period commencing on the date of issuance of the Purchased Shares or Warrants and ending on the first anniversary of such date, or such shorter period as may be permitted by Regulation S or other applicable securities law (the “Restricted Period”), offer, sell, pledge or otherwise transfer the Purchased Shares or the Warrants in the United States, or to a U.S. Person for the account or for the benefit of a U.S. Person, or otherwise in a manner that is not in compliance with Regulation S.

 

 

	
4.  

	
The undersigned will, after expiration of the Restricted Period, offer, sell, pledge or otherwise transfer the Purchased Shares or Warrants only pursuant to registration under the Securities Act or an available exemption therefrom and, in accordance with all applicable state and foreign securities laws.

  

  

  

	
5.  

	
The undersigned was not in the United States, engaged in, and prior to the expiration of the Restricted Period will not engage in, any short selling of or any hedging transaction with respect to the Securities, including without limitation, any put, call or other option transaction, option writing or equity swap.

 

 

	
6.  

	
Neither the undersigned nor or any person acting on his behalf has engaged, nor will engage, in any directed selling efforts to a U.S. Person with respect to the Securities and the Investor and any person acting on his behalf have complied and will comply with the “offering restrictions” requirements of Regulation S under the Securities Act.

 

 

	
7.  

	
The transactions contemplated by this Agreement have not been pre-arranged with a buyer located in the United States or with a U.S. Person, and are not part of a plan or scheme to evade the registration requirements of the Securities Act.

 

 

	
8.  

	
Neither the undersigned nor any person acting on his behalf has undertaken or carried out any activity for the purpose of, or that could reasonably be expected to have the effect of, conditioning the market in the United States, its territories or possessions, for any of the Securities.  The undersigned agrees not to cause any advertisement of the Securities to be published in any newspaper or periodical or posted in any public place and not to issue any circular relating to the Securities, except such advertisements that include the statements required by Regulation S under the Securities Act, and only offshore and not in the U.S. or its territories, and only in compliance with any local applicable securities laws.

 

 

	
9.  

	
Each certificate representing the Securities shall be endorsed with the following legends, in addition to any other legend required to be placed thereon by applicable federal or state securities laws:

 

“THE SECURITIES ARE BEING OFFERED TO INVESTORS WHO ARE NOT U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT OF 1933, AS AMENDED (“THE SECURITIES ACT”)) AND WITHOUT REGISTRATION WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT IN RELIANCE UPON REGULATION S PROMULGATED UNDER THE SECURITIES ACT.”

 

  

  

  

 

“TRANSFER OF THESE SECURITIES IS PROHIBITED, EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S, PURSUANT TO REGISTRATION UNDER THE SECURITIES ACT, OR PURSUANT TO AVAILABLE EXEMPTION FROM REGISTRATION.  HEDGING TRANSACTIONS MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES ACT.”

 

 

“THE HOLDER OF THIS SECURITY MUST NOT TRADE THE SECURITY IN OR FROM A JURISDICTION OF CANADA UNLESS THE CONDITIONS IN SECTION 13 OF MULTILATERAL INSTRUMENT 51-105 “ISSUERS QUOTED IN THE U.S. OVER THE COUNTER MARKETS” ARE MET.”

 

	
10.  

	
The undersigned consents to the Company making a notation on its records or giving instructions to any transfer agent of the Company in order to implement the restrictions on transfer of the Securities set forth in this Section 2.

Cross out if inapplicable

(k)           The undersigned is an “accredited investor” as that term is defined in Rule 501 of the General Rules and Regulations under the Securities Act by reason of Rule 501(a)(3).

(l)           The undersigned understands that an investment in the Securities is a speculative investment which involves a high degree of risk and the potential loss of his entire investment.

(m)           The undersigned's overall commitment to investments which are not readily marketable is not disproportionate to the undersigned's net worth, and an investment in the Securities will not cause such overall commitment to become excessive.

(n)           The undersigned has received all documents, records, books and other information pertaining to the undersigned’s investment in the Company that has been requested by the undersigned.  The undersigned has reviewed all reports and other documents filed by the Company with the Securities and Exchange Commission (the “SEC Documents”).

(o)           The undersigned represents and warrants to the Company that all information that the undersigned has provided to the Company, including, without limitation, the information in the Investor Questionnaire attached hereto or previously provided to the Company (the “Investor Questionnaire”), is correct and complete as of the date hereof.

  

  

  

(p)           Other than as set forth herein, the undersigned is not relying upon any other information, representation or warranty by the Company or any officer, director, stockholder, agent or representative of the Company in determining to invest in the Securities.  The undersigned has consulted, to the extent deemed appropriate by the undersigned, with the undersigned’s own advisers as to the financial, tax, legal and related matters concerning an investment in the Securities and on that basis believes that his or its investment in the Securities is suitable and appropriate for the undersigned.

(q)           The undersigned is aware that no federal or state agency has (i) made any finding or determination as to the fairness of this investment, (ii) made any recommendation or endorsement of the Securities or the Company, or (iii) guaranteed or insured any investment in the Securities or any investment made by the Company.

(p)           The undersigned understands that the price of the Securities offered hereby bear no relation to the assets, book value or net worth of the Company and were determined arbitrarily by the Company.  The undersigned further understands that there is a substantial risk of further dilution on his or its investment in the Company.

SECTION 4

The Company represents and warrants to the undersigned as follows:

4.1            Organization of the Company.  The Company is a corporation duly organized and validly existing and in good standing under the laws of the State of Nevada, and has all requisite power and authority to own, lease and operate its properties and to carry on its business as now being conducted.

4.2           Authority.   (a)  The Company has the requisite corporate power and authority to enter into and perform its obligations under this Agreement and to issue the Securities; (b) the execution and delivery of this Agreement by the Company and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary corporate action and no further consent or authorization of the Company or its Board of Directors is required; and (c) this Agreement has been duly executed and delivered by the Company and constitutes a valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except as such  enforceability  may be limited by applicable bankruptcy, insolvency, or similar laws relating to, or affecting generally the enforcement of, creditors' rights and remedies or by other equitable principles of general application.

  

  

  

4.3           SEC Documents.  To the best of Company's knowledge, the Company has not provided to the undersigned any information that, according to applicable law, rule or regulation, should have been disclosed publicly prior to the date hereof by the Company, but which has not been so disclosed. As of their respective dates, the SEC Documents complied in all material respects with the requirements of the Securities Act or the Exchange Act, as the case may be, and other federal, state and local laws, rules and regulations applicable to such SEC Documents, and none of the SEC Documents contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. The financial statements of the Company included in the SEC Documents comply as to form and substance in all material respects with applicable accounting requirements and the published rules and regulations of the Securities and Exchange Commission (the “SEC”) or other applicable rules and regulations with respect thereto. Such financial statements have been prepared in accordance with generally accepted accounting principles applied on a consistent basis during the periods involved (except (a) as may be otherwise indicated in such financial statements or the notes thereto or (b) in the case of unaudited interim statements, to the extent they may not include footnotes or may be condensed or summary statements) and fairly present in all material respects the financial position of the Company as of the dates thereof and the results of operations and cash flows for the periods then ended (subject, in the case of unaudited statements, to normal year-end audit adjustments).

4.5           Exemption from Registration; Valid Issuances.  The sale and issuance of the Securities, in accordance with the terms and on the bases of the representations and warranties of the undersigned set forth herein, may and shall be properly issued by the Company to the undersigned pursuant to Section 4(2), Regulation S and/or any applicable U.S state law. When issued and paid for as herein provided, the Securities shall be duly and validly issued, fully paid, and nonassessable. Neither the sales of the Securities pursuant to, nor the Company's performance of its obligations under, this Agreement shall (a) result in the creation or imposition of any liens, charges, claims or other encumbrances upon the Securities or any of the assets of the Company, or (b) entitle the other holders of the Common Stock of the Company to preemptive or other rights to subscribe to or acquire the Common Stock or other securities of the Company. The Securities shall not subject the undersigned to personal liability by reason of the ownership thereof.

4.6           No General Solicitation or Advertising in Regard to this Transaction. Neither the Company nor any of its affiliates nor any person acting on its or their behalf (a) has conducted or will conduct any general solicitation (as that term is used in Rule 502(c) of Regulation D) or general advertising with respect to any of the Securities, or (b) made any offers or sales of any security or solicited any offers to buy any security under any circumstances that would require registration of the Common Stock under the Securities Act.

  

  

  

4.7           No Conflicts.                      The execution, delivery and performance of this Agreement by the Company and the consummation by the Company of the transactions contemplated hereby, including without limitation the issuance of the Securities, do not and will not (a) result in a violation of the Certificate or By-Laws of the Company or (b) conflict with, or constitute a material default (or an event that with notice or lapse of time or both would become a material default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any material agreement, indenture, instrument or any "lock-up" or similar provision of any underwriting or similar agreement to which the Company is a party, or (c) result in a violation of any federal, state, local or foreign law, rule, regulation, order, judgment or decree (including federal and state securities laws and regulations)applicable to the Company or by which any property or asset of the Company is bound or affected (except for such conflicts, defaults, terminations, amendments, accelerations, cancellations and violations as would not, individually or in the aggregate, have a material adverse effect on the business, operations, properties, prospects or condition (financial or otherwise) of the Company) nor is the Company otherwise in violation of, conflict with or in default under any of the foregoing. The Company is not required under U.S. federal, state or local law, rule or regulation to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency in order for it to execute, deliver or perform any of its obligations under this Agreement or issue and sell the Common Stock in accordance with  the terms hereof (other than any SEC, NASD or state securities filings that may be required to be made by the Company subsequent to the Closing); provided that, for purposes of the representation made in this sentence, the Company is assuming and relying upon the accuracy of the relevant representations and agreements of the undersigned herein.

SECTION 5

5.1  Indemnity.  The undersigned agrees to indemnify and hold harmless the Company, its officers and directors, employees and its affiliates and their respective successors and assigns and each other person, if any, who controls any thereof, against any loss, liability, claim, damage and expense whatsoever (including, but not limited to, any and all expenses whatsoever reasonably incurred in investigating, preparing or defending against any litigation commenced or threatened or any claim whatsoever) arising out of or based upon any false representation or warranty or breach or failure by the undersigned to comply with any covenant or agreement made by the undersigned herein or in any other document furnished by the undersigned to any of the foregoing in connection with this transaction.

5.2           Modification.  Neither this Agreement nor any provisions hereof shall be modified, discharged or terminated except by an instrument in writing signed by the party against whom any waiver, change, discharge or termination is sought.

5.3           Notices.  Any notice, demand or other communication which any  party hereto may be required, or may elect, to give to anyone interested hereunder shall be sufficiently given if (a) deposited, postage prepaid, in a United States mail letter box, registered or certified mail, return receipt requested, addressed to such address as may be given herein, or (b) delivered personally at such address.

  

  

  

5.4           Counterparts.  This Agreement may be executed through the use of separate signature pages or in any number of counterparts and by facsimile, and each of such counterparts shall, for all purposes, constitute one agreement binding on all parties, notwithstanding that all parties are not signatories to the same counterpart. Signatures may  be facsimiles.

5.5           Binding Effect.  Except as otherwise provided herein, this Agreement shall be binding upon and inure to the benefit of the parties and their heirs, executors, administrators, successors, legal representatives and assigns.  If the undersigned is more than one person, the obligation of the undersigned shall be joint and several and the agreements, representations, warranties and acknowledgments herein contained shall be deemed to be made by and be binding upon each such person and his heirs, executors, administrators and successors.

5.6           Entire Agreement.  This Agreement and the documents referenced herein contain the entire agreement of the parties and there are no representations, covenants or other agreements except as stated or referred to herein and therein.

5.7           Assignability.  This Agreement is not transferable or assignable by the undersigned.

5.8           Applicable Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to conflicts of law principles.

5.9           Pronouns.  The use herein of the masculine pronouns "him" or "his" or similar terms shall be deemed to include the feminine and neuter genders as well and the use herein of the singular pronoun shall be deemed to include the plural as well.

  

  

  

IN WITNESS WHEREOF, the undersigned has executed this Agreement on the ____   day of August, 2015.

Amount of Investment:

$19,500____________________

INDIVIDUAL INVESTOR:

___________________________

Signature

Name:

PARTNERSHIP, CORPORATION, TRUST,

CUSTODIAL ACCOUNT, OTHER INVESTOR

___________________________

(Print Name of Entity)

By:           __________________

Name:

Title:

Address:

Taxpayer Identification Number:_____________

  

  

  

ACCEPTANCE OF SUBSCRIPTION

(to be filled out only by the Company)

The Company hereby accepts the above application for subscription for Units on behalf of the Company.

BRISSET BEER INTERNATIONAL, INC.                                                                                                Dated: ____________

Signature:______________________________

Name: Stephane Pilon

Title: President, CEO

 

  

  

  

ACCREDITED INVESTOR QUESTIONNAIRE

The undersigned subscriber represents that it is an Accredited Investor on the basis that it is (check one):

 

_____(i)  A bank as defined in Section 3(a)(2) of the Act, or a savings and loan association or other institution as defined in Section 3(a)(5)(A) of the Act, whether acting in its individual or fiduciary capacity; a broker or dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934; an insurance company as defined in Section 2(13) of the Act; an investment company registered under the Investment Company Act of 1940 (the “Investment Company Act”) or a business development company as defined in Section 2(a)(48) of the Investment Company Act; a Small Business Investment Company licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958; a plan established and maintained by a state, its political subdivisions or any agency or instrumentality of a state or its political subdivisions for the benefit of its employees, if such plan has total assets in excess of $5,000,000; an employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974 (“ERISA”), if the investment decision is made by a plan fiduciary, as defined in Section 3(21) of ERISA, which is either a bank, savings and loan association, insurance company, or registered investment advisor, or if the employee benefit plan has total assets in excess of $5,000,000 or, if a self-directed plan, with investment decisions made solely by persons that are accredited investors.

 

_____(ii)  A private business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940.

 

_____(iii)  An organization described in Section 501(c)(3) of the Internal Revenue Code, corporation, Massachusetts or similar business trust, or partnership, not formed for the specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000.

 

_____(iv)  A director or executive officer of the Company.

 

_____(v)  A natural person whose individual net worth, or joint net worth with that person’s spouse, at the time of his or her purchase exceeds $1,000,000.

 

_____(vi)  A natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with that person’s spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year.

 

_____(vii)  A trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the securities offered, whose purchase is directed by a sophisticated person as described in Rule 506(b)(2)(ii) (i.e., a person who has such knowledge and experience in financial and business matters that he is capable of evaluating the merits and risks of the prospective investment).

 

_____(viii)  An entity in which all of the equity owners are accredited investors.  (If this alternative is checked, the Subscriber must identify each equity owner and provide statements signed by each demonstrating how each is qualified as an accredited investor.  Further, the Subscriber represents that it has made such investigation as is reasonably necessary in order to verify the accuracy of this alternative.)

 

 

_____________________________

Signature

 

_____________________________

Date

_____________________________

Address

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