Document:

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                                                                    Exhibit 4.31

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                           THE DETROIT EDISON COMPANY
                                       AND
                J.P. MORGAN TRUST COMPANY, NATIONAL ASSOCIATION,
                                     TRUSTEE

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                                   SUPPLEMENTAL INDENTURE

                          DATED AS OF

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                  SUPPLEMENTING THE COLLATERAL TRUST INDENTURE
                            DATED AS OF JUNE 30, 1993
                                  PROVIDING FOR
                          SERIES    % SENIOR NOTES DUE

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     SUPPLEMENTAL INDENTURE, dated as of the    day of         , between THE
DETROIT EDISON COMPANY, a corporation organized and existing under the laws of
the State of Michigan (the "Company"), and J.P. MORGAN TRUST COMPANY, NATIONAL
ASSOCIATION, a national banking association organized under the laws of the
United States of America, having a corporate trust office in the City of
Detroit, Michigan, as successor trustee (the "Trustee");

     WHEREAS, the Company has heretofore executed and delivered to the Trustee a
Collateral Trust Indenture dated as of June 30, 1993 (the "Original Indenture"),
as supplemented, providing for the issuance by the Company from time to time of
its debt securities; and

     WHEREAS, the Company now desires to provide for the issuance of an
additional series of its senior debt securities pursuant to the Original
Indenture; and

     WHEREAS, the Company intends hereby to designate a series of debt
securities which shall have the benefit of the provisions of Article Four of the
Original Indenture and the other related provisions of the Original Indenture
relating to the grant of security, subject to the release provisions provided
for herein, and which shall have the terms and variations from the provisions of
the Original Indenture as set forth herein; and

     WHEREAS, the Company, in the exercise of the power and authority conferred
upon and reserved to it under the provisions of the Original Indenture,
including Section 1001 thereof, and pursuant to appropriate resolutions of the
Board of Directors, has duly determined to make, execute and deliver to the
Trustee this                       Supplemental Indenture to the Original
Indenture as permitted by Sections 201 and 301 of the Original Indenture in
order to establish the form or terms of, and to provide for the creation and
issue of, a series of its debt securities under the Original Indenture, which
shall be known as the     Series    % Senior Notes due     .

     WHEREAS, all things necessary to make such debt securities, when executed
by the Company and authenticated and delivered by the Trustee or any
Authenticating Agent and issued upon the terms and subject to the conditions
hereinafter and in the Original Indenture set forth against payment therefor,
the valid, binding and legal obligations of the Company and to make this
                 Supplemental Indenture a valid, binding and legal agreement of
the Company, have been done;

     NOW, THEREFORE, THIS                       SUPPLEMENTAL INDENTURE
WITNESSETH that, in order to establish the terms of a series of debt securities,
and for and in consideration of the premises and of the covenants contained in
the Original Indenture and in this                       Supplemental Indenture
and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, it is mutually covenanted and agreed as follows:

                                   ARTICLE ONE

                              DEFINITIONS AND OTHER
                        PROVISIONS OF GENERAL APPLICATION

     SECTION 1.01. Definitions. Each capitalized term that is used herein and is
defined in the Original Indenture shall have the meaning specified in the
Original Indenture unless such term is

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otherwise defined herein. The following terms shall have the respective meanings
set forth below:

     "Business Day" means any day other than a day on which banking institutions
in the State of New York or the State of Michigan are authorized or obligated
pursuant to law or executive order to close.

     "Capitalization" means the total of all the following items appearing on,
or included in, the consolidated balance sheet of the Company: (i) liabilities
for indebtedness maturing more than 12 months from the date of determination;
and (ii) common stock, common stock expense, accumulated other comprehensive
income or loss, preferred stock, preference stock, premium on capital stock and
retained earnings (however the foregoing may be designated), less, to the extent
not otherwise deducted, the cost of shares of capital stock of the Company held
in its treasury, if any. Subject to the foregoing, Capitalization shall be
determined in accordance with generally accepted accounting principles and
practices applicable to the type of business in which the Company is engaged and
may be determined as of a date not more than 60 days prior to the happening of
the event for which the determination is being made. In connection with such
determination, the Company shall certify to the Trustee that it has, prior to
making its final determination, consulted with the independent accountants
regularly retained by the Company.

     "Debt" means any outstanding debt for money borrowed evidenced by notes,
debentures, bonds or other securities, or guarantees of any debt.

     "Net Tangible Assets" means the amount shown as total assets on the
consolidated balance sheet of the Company, less (i) intangible assets including,
but without limitation, such items as goodwill, trademarks, trade names,
patents, unamortized debt discount and expense and other regulatory assets
carried as an asset on the Company's consolidated balance sheet, and (ii)
appropriate adjustments, if any, on account of minority interests. Net Tangible
Assets shall be determined in accordance with generally accepted accounting
principles and practices applicable to the type of business in which the Company
is engaged and may be determined as of a date not more than 60 days prior to the
happening of the event for which such determination is being made. In connection
with such determination, the Company shall certify to the Trustee that it has,
prior to making its final determination, consulted with the independent
accountants regularly retained by the Company.

     "Operating Property" means (i) any interest in real property owned by the
Company and (ii) any asset owned by the Company that is depreciable in
accordance with generally accepted accounting principles, excluding, in either
case, any interest of the Company as lessee under any lease (except for a lease
that results from a Sale and Lease-Back Transaction) that has been or would be
capitalized on the books of the lessee in accordance with generally accepted
accounting principles.

     "Original Issue Date" means              .

     "Pledged Bonds" means the related series of Bonds and any other Mortgage
Bonds issued to secure Securities subject to the release provisions provided
herein or in any other supplemental indenture to the Original Indenture.

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     "Release Date" means the date as of which all Mortgage Bonds, (i) other
than the Pledged Bonds, including the related series of Bonds, and (ii) other
than outstanding Mortgage Bonds (exclusive of Pledged Bonds) which do not in
aggregate principal amount exceed the greater of 5% of the Net Tangible Assets
of the Company or 5% of the Capitalization of the Company, have been retired
through payment, redemption or otherwise, provided that no default or Event of
Default has occurred and, at such time, is continuing under the Original
Indenture.

     "Sale and Lease-Back Transaction" means any arrangement with any person
providing for the leasing to the Company of any Operating Property (except for
leases for a term, including any renewal or potential renewal, of not more than
48 months), which Operating Property has been or is to be sold or transferred by
the Company to the person; provided, however, Sale and Lease-Back Transaction
shall not include any arrangement first entered into prior to the date hereof
and shall not include any transaction pursuant to which the Company sells
Operating Property to, and thereafter purchases energy or services from, any
entity, which transaction is ordered or authorized by any regulatory authority
having jurisdiction over the Company or its operations or is entered into
pursuant to any plan or program of industry restructuring ordered or authorized
by any such regulatory authority.

     "Substitute Mortgage" means a mortgage indenture of the Company, other than
the Mortgage, designated by the Company to the Trustee as a Substitute Mortgage
pursuant to Section 4.03 hereof. The lien of the Substitute Mortgage shall have
such priority, and be with respect to such property, as shall be specified by
the Company in its sole discretion.

     "Substitute Mortgage Bonds" means any mortgage bonds issued by the Company
under a Substitute Mortgage and delivered to the Trustee pursuant to Section
4.03 hereof or pursuant to the comparable provision of any other supplemental
indenture relating to Securities subject to the release provisions.

     "Value" means, with respect to a Sale and Lease-Back Transaction, as of any
particular time, the amount equal to the greater of (i) the net proceeds to the
Company from the sale or transfer of the property leased pursuant to the Sale
and Lease-Back Transaction or (ii) the net book value of the property, as
determined by the Company in accordance with generally accepted accounting
principles at the time of entering into the Sale and Lease-Back Transaction, in
either case multiplied by a fraction, the numerator of which shall be equal to
the number of full years of the term of the lease that is part of the Sale and
Lease-Back Transaction remaining at the time of determination and the
denominator of which shall be equal to the number of full years of the term,
without regard, in any case, to any renewal or extension options contained in
the lease.

     SECTION 1.02. Section References. Each reference to a particular section
set forth in this                      Supplemental Indenture shall, unless the
context otherwise requires, refer to this                       Supplemental
Indenture.

                                   ARTICLE TWO

                        TITLE AND TERMS OF THE SECURITIES

     SECTION 2.01. Title of the Securities; Stated Maturity. This
                      Supplemental Indenture hereby establishes a series of
Securities, which shall be known as the Company's "

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Series    % Senior Notes due     " (the "Notes"). For purposes of the Original
Indenture, the Notes shall constitute a single series of Securities. The Stated
Maturity on which the principal of the Notes shall be due and payable will be
           .

     SECTION 2.02. Certain Variations from the Original Indenture.

     (a) The Notes shall have the benefit of the provisions of Article Four of
the Original Indenture and shall have the benefit of, or be subject to, the
other related provisions of the Original Indenture relating to the grant of
security, including (for avoidance of doubt and not for purposes of limitation)
the Granting Clause, the definitions of "Deliverable Mortgage Bonds,"
"Deliverable Securities," "Designated Mortgage Bonds," "Grant," "Mortgage,"
"Mortgage Bonds," "Mortgage Trustee," "Previously Delivered Mortgage Bonds," and
"Trust Estate," Section 301(20), Sections 301(a)(v), (ix), (x) and (xi),
Sections 301(b)(ii) and (iii), Section 301(d), and Sections 601(4) and (8),
subject, in each case, to the release provisions provided for in Section 4.02
herein. In addition, on and after the Release Date, unless Substitute Mortgage
Bonds are issued to secure the Notes, the Notes shall have the benefit of the
additional covenants set forth in Article Three hereof.

     (b) Section 503 of the Original Indenture shall apply to the Notes. The
following shall be an additional condition to defeasance of the Notes under
Section 503: the Company shall have delivered to the Trustee an Opinion of
Counsel stating that (i) the Company has received from the Internal Revenue
Service a letter ruling, or there has been published by the Internal Revenue
Service a Revenue Ruling, or (ii) since the date of execution of this
                      Supplemental Indenture, there has been a change in the
applicable U.S. Federal income tax law, in either case to the effect that, the
Holders of such Outstanding Notes appertaining thereto will not recognize
income, gain or loss for U.S. Federal income tax purposes as a result of such
defeasance and will be subject to U.S. Federal income tax on the same amounts,
in the same manner and at the same times as would have been the case if such
defeasance had not occurred, and, also, to the effect that, after the 123rd day
after the date of deposit, all money and other property as provided pursuant to
Section 503 of the Original Indenture (including the proceeds thereof) deposited
or caused to be deposited with the Trustee (or other qualifying trustee)
pursuant to Section 503 of the Original Indenture to be held in trust will not
be subject to any case or proceeding (whether voluntary or involuntary) in
respect of the Company under any Federal or State bankruptcy, insolvency,
reorganization or other similar law, or any decree or order for relief in
respect of the Company issued in connection therewith.

     SECTION 2.03. Amount and Denominations; DTC

     (a) The aggregate principal amount of Notes that may be issued under this
                      Supplemental Indenture is limited to $        (except as
provided in Section 301(2) of the Original Indenture); provided that the Company
may, without the consent of the Holders of the Outstanding Notes, "reopen" the
series of the Notes so as to increase the aggregate principal amount of the
Notes Outstanding in compliance with the procedures set forth in the Original
Indenture, including Section 301 and Section 303 thereof, so long as any such
additional Notes have the same terms, conditions and CUSIP number (including,
without limitation, rights to security and to receive accrued and unpaid
interest) as the Notes then Outstanding. No additional Notes may be issued if an
Event of Default has occurred with respect to the Notes. The Notes shall be
issuable only in fully registered form and, as permitted by Section 301 and
Section 302 of

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the Original Indenture, in denominations of $1,000 and integral multiples
thereof. The Notes will initially be issued in global form (the "Global
Securities") under a book-entry system, registered in the name of The Depository
Trust Company, as depository ("DTC"), or its nominee, which is hereby designated
as "Depository" under the Indenture.

     (b) If (i) the Depository notifies the Company that it is unwilling or
unable to continue as Depository for such Global Security or if at any time such
Depository ceases to be a clearing agency registered under the Securities
Exchange Act of 1934, and, in either such case, the Company does not appoint a
successor Depository within 90 days thereafter, or (ii) there shall have
occurred and be continuing an Event of Default or an event which, with the
giving of notice or lapse of time, or both, would constitute an Event of
Default, certificates for the Notes will be registered and delivered to the
Holders of record. Upon receipt of a withdrawal request from the Company, the
Depository will notify its participants of the receipt of a withdrawal request
from the Company, notifying participants that they may utilize the Depository's
withdrawal procedures if they wish to withdraw their securities from the
Depository. To the extent that the book-entry system is discontinued, or if the
Company fails to appoint a successor Depository, certificates for the Notes will
be registered and delivered to the Holders of record.

     SECTION 2.04. Certain Terms of the Notes.

     (a) The Notes shall bear interest at the rate of    % per annum on the
principal amount thereof from the date of original issuance, or from the most
recent Interest Payment Date to which interest has been paid or duly provided
for, until the principal of the Notes becomes due and payable, and on any
overdue principal and premium and (to the extent that payment of such interest
is enforceable under applicable law) on any overdue installment of interest at
the same rate per annum during such overdue period. Interest on the Notes will
be payable semi-annually in arrears on           and          of each year (each
such date, an "Interest Payment Date"), commencing                . The amount
of interest payable for any period shall be computed on the basis of a 360-day
year and twelve 30-day months.

     (b) In the event that any Interest Payment Date, redemption date or other
date of Maturity of the Notes is not a Business Day, then payment of the amount
payable on such date will be made on the next succeeding day which is a Business
Day (and without any interest or other payment in respect of any such delay), in
each case with the same force and effect as if made on such date. The interest
installment so payable, and punctually paid or duly provided for, on any
Interest Payment Date with respect to any Note will, as provided in the Original
Indenture, be paid to the person in whose name the Note (or one or more
Predecessor Securities, as defined in the Original Indenture) is registered at
the close of business on the relevant record date for such interest installment,
which shall be the fifteenth calendar day (whether or not a Business Day) prior
to the relevant Interest Payment Date (the "Regular Record Date"). Any such
interest installment not punctually paid or duly provided for shall forthwith
cease to be payable to the registered Holders on such Regular Record Date, and
may either be paid to the person in whose name the Note (or one or more
Predecessor Securities) is registered at the close of business on a Special
Record Date to be fixed by the Trustee for the payment of such defaulted
interest, notice whereof shall be given to the registered Holders of the Notes
not less than ten 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 Notes may be listed, and upon such notice as
may be required by such exchange, all as more fully provided in the Original
Indenture. The

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principal of, and premium, if any, and the interest on the Notes shall be
payable at the office or agency of the Company maintained for that purpose in
the Borough of Manhattan, the City of New York, in any coin or currency of the
United States of America that at the time of payment is legal tender for payment
of public and private debts; provided, however, that payment of interest may be
made at the option of the Company by check mailed to the registered Holder at
the close of business on the Regular Record Date at such address as shall appear
in the Security Register. Notwithstanding the foregoing, so long as the Notes
are Global Securities and are held in book-entry form through the facilities of
the Depository, payments on the Notes will be made to the Depository or its
nominee in accordance with arrangements then in effect between the Trustee and
the Depository.

     (c) The Notes are not subject to repayment at the option of the Holders
thereof and are not subject to any sinking fund. As provided in the form of
Notes attached hereto as Exhibit A, the Notes are subject to optional
redemption, as a whole or in part, by the Company prior to Stated Maturity of
the principal thereof on the terms set forth therein. Except as modified in the
form of Notes, redemptions shall be effected in accordance with Article Twelve
of the Original Indenture.

     (d) The Notes shall have such other terms and provisions as are set forth
in the form of Notes attached hereto as Exhibit A (which is incorporated by
reference in and made a part of this                       Supplemental
Indenture as if set forth in full at this place).

     SECTION 2.06. Form of Notes. Attached hereto as Exhibit A is the form of
the Notes. If the Company elects to have the Notes secured by Substitute
Mortgage Bonds on and after the Release Date, the terms of the Notes shall be
amended to make appropriate reference to the Substitute Mortgage and the
Substitute Mortgage Bonds; provided, that the consent of Holders shall not be
required in connection with such amendment.

                                  ARTICLE THREE

                              ADDITIONAL COVENANTS

     SECTION 3.01. Limitations on Liens.

     (a) From and after the Release Date, unless Substitute Mortgage Bonds are
issued to secure the Notes, so long as any Notes are outstanding, the Company
may not issue, assume, guarantee (including any contingent obligation to
purchase) or permit to exist any Debt that is secured by any mortgage, security
interest, pledge or lien ("Lien") of or upon any Operating Property owned by the
Company, whether owned at the Release Date or subsequently acquired, without
effectively securing the Notes (together with, if the Company shall so
determine, any other indebtedness of the Company ranking equally with the Notes)
equally and ratably with the Debt (but only so long as the Debt is so secured).

     The foregoing restriction will not apply to:

          (i) Liens on any Operating Property existing at the time of its
     acquisition and not created in contemplation of the acquisition;

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          (ii) Liens on Operating Property of a corporation existing at the time
     the corporation is merged into or consolidated with the Company, or at the
     time the corporation disposes of substantially all of its properties (or
     those of a division) to the Company, provided that the Lien is not extended
     to property owned by the Company immediately prior to the merger,
     consolidation or other disposition and is not created in contemplation of
     the merger, consolidation or other disposition;

          (iii) Liens on Operating Property to secure the cost of acquisition,
     construction, development or substantial repair, alteration or improvement
     of such property or to secure indebtedness incurred to provide funds for
     any of these purposes or for reimbursement of funds previously expended for
     any of these purposes, provided the Liens are created or assumed
     contemporaneously with, or within 18 months after, the acquisition or the
     completion of substantial repair or alteration, construction, development
     or substantial improvement or within 6 months thereafter pursuant to a
     commitment for financing arranged with a lender or investor within such
     18-month period;

          (iv) Liens in favor of the United States or any state or any
     department, agency or instrumentality or political subdivision of the
     United States or any state, or for the benefit of holders of securities
     issued by any of these entities, to secure any Debt incurred for the
     purpose of financing all or any part of the purchase price or the cost of
     substantially repairing or altering, constructing, developing or
     substantially improving the Operating Property; or

          (v) Any extension, renewal or replacement (or successive extensions,
     renewals or replacements), in whole or in part, of any Lien referred to in
     the exceptions listed above, provided, however, that the principal amount
     of Debt secured thereby and not otherwise authorized by those exceptions
     listed above shall not exceed the principal amount of Debt, plus any
     premium or fee payable in connection with any such extension, renewal or
     replacement, so secured at the time of such extension, renewal or
     replacement.

     (b) Notwithstanding the foregoing restrictions, the Company may issue,
assume or guarantee Debt secured by a Lien which would otherwise be subject to
the foregoing restrictions up to an aggregate amount which, together with all
other of the Company's secured Debt (not including secured Debt permitted under
any of the foregoing exceptions) and the Value of Sale and Lease-Back
Transactions existing at such time (other than Sale and Lease-Back Transactions
the proceeds of which have been applied to the retirement of certain
indebtedness, Sale and Lease-Back Transactions in which the property involved
would have been permitted to be subjected to a Lien under any of the foregoing
exceptions, and Sale and Lease-Back Transactions that are permitted by the first
sentence of Section 3.02 below), does not exceed the greater of 10% of the
Company's Net Tangible Assets or 10% of the Company's Capitalization. The
foregoing restrictions do not limit the Company's ability to place Liens on (i)
the capital stock of any of the Company's subsidiaries or (ii) the assets of any
of the Company's subsidiaries.

     SECTION 3.02. Limitations on Sale and Lease-Back Transactions. So long as
the Notes are outstanding from and after the Release Date, unless Substitute
Mortgage Bonds are issued to secure the Notes, the Company may not enter into or
permit to exist any Sale and Lease-Back Transaction with respect to any
Operating Property (except for leases for a term, including any renewal or
potential renewal, of not more than 48 months), if the purchaser's commitment is
obtained more than 18 months after the later of the completion of the
acquisition, construction or

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development of the Operating Property or the placing in operation of the
Operating Property or of the Operating Property as constructed or developed or
substantially repaired, altered or improved. This restriction will not apply if
(a) the Company would be entitled pursuant to Section 3.01(a) above to issue,
assume, guarantee or permit to exist Debt secured by a Lien on the Operating
Property without equally and ratably securing the Notes, (b) after giving effect
to the Sale and Lease-Back Transaction, pursuant to Section 3.01(b) above, the
Company could incur at least $1.00 of additional Debt secured by Liens (other
than Liens permitted by clause (a)), or (c) the Company applies within 180 days
an amount equal to, in the case of a sale or transfer for cash, the net proceeds
(not less than the fair value of the Operating Property so leased), and,
otherwise, an amount equal to the fair value (as determined by the Board of
Directors of the Company) of the Operating Property so leased to the retirement
of Notes or other Debt of the Company ranking equally with the Notes; provided,
however, that any such retirement of Notes shall be in accordance with the terms
and provisions of the Indenture and the Notes; provided, further, that the
amount to be applied to such retirement of Notes or other Debt shall be reduced
by an amount equal to the sum of (a) an amount equal to the redemption price
with respect to Notes delivered within such one hundred eighty (180)-day period
to the Trustee for retirement and cancellation and (b) the principal amount,
plus any premium or fee paid in connection with any redemption in accordance
with the terms of other Debt voluntarily retired by the Company within such one
hundred eighty (180)-day period, excluding in each case retirements pursuant to
mandatory sinking fund or prepayment provisions and payments at Stated Maturity.

     SECTION 3.03. Waiver. Section 1109 of the Original Indenture shall apply to
the covenants set forth in Sections 3.01 and 3.02 above at any time such
covenants are in effect.

                                  ARTICLE FOUR

                         SECURITY AND RELEASE PROVISIONS

     SECTION 4.01. Security. Subject to Section 4.02 below, as provided in and
pursuant to Article Four of the Original Indenture, the Notes will be secured as
to payments of principal, interest and premium, if any, by a series of Mortgage
Bonds (the "General and Refunding Mortgage Bonds,      Series     ," the
"Bonds," the "Bonds of the related series" or the "related series of Bonds") of
the Company to be issued concurrently with the issuance of the Notes under and
secured by a Mortgage and Deed of Trust, dated as of October 1, 1924, between
the Company and J.P. Morgan Trust Company, National Association, as successor
trustee (the "Mortgage Trustee"), as amended and supplemented by various
supplemental indentures, including the supplemental indenture, dated as of
             , creating the Bonds (collectively, the "Mortgage"), pledged by the
Company for the benefit of the Holders of the Notes to the Trustee under this
                      Supplemental Indenture. The Bonds shall be issued in an
aggregate principal amount equal to the aggregate principal amount of the Notes.

     SECTION 4.02. Release. Until the Release Date and subject to Article Four
of the Original Indenture, the Bonds of the related series issued and delivered
to the Trustee shall serve as security for any and all obligations of the
Company under all Notes from time to time Outstanding, including, but not
limited to (1) the full and prompt payment of the principal and premium, if any,
on the Notes when and as the same shall become due and payable in accordance
with the terms and provisions of the Indenture or the Notes, either at the
Stated Maturity thereof, upon acceleration of the maturity thereof, upon
redemption, or otherwise, and (2) the full and

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prompt payment of any interest on the Notes when and as the same shall become
due and payable in accordance with the terms and provisions of this Indenture or
the Notes including, if and to the extent provided for in the Notes, interest on
overdue installments of principal and (to the extent permitted by law) interest
on overdue installments of interest.

     Each supplemental indenture to the Mortgage pursuant to which any Bonds are
issued shall contain a provision to the effect that any payment by the Company
hereunder of principal of or premium or interest on Notes which shall have been
authenticated and delivered in connection with the issuance and delivery to the
Trustee of such Bonds (other than by the application of the proceeds of a
payment in respect of such Bonds) shall to the extent thereof, be deemed to
satisfy and discharge the obligation of the Company, if any, to make a payment
of principal, premium or interest, as the case may be, in respect of such Bonds
which is then due.

     Notwithstanding anything in the Original Indenture to the contrary, from
and after the Release Date, the obligation of the Company to make payment with
respect to the principal of and premium, if any, and interest on the Bonds shall
be deemed satisfied and discharged as provided in the supplemental indenture or
indentures to the Mortgage creating such Bonds and the Bonds shall cease to
secure in any manner Notes theretofore or subsequently issued; the Trustee shall
thereupon surrender the Bonds to the Mortgage Trustee for cancellation and
execute and deliver such proper instruments of release as may be required. From
and after the Release Date, all Notes, whether theretofore or subsequently
issued, shall, at the Company's option, either (i) become unsecured or (ii) be
secured by Substitute Mortgage Bonds pursuant to Section 4.03 below, and any
conditions to the issuance of Notes that refer or relate to Bonds or the
Mortgage shall be inapplicable (except as such conditions shall be deemed to
refer to Substitute Mortgage Bonds or a Substitute Mortgage pursuant to Section
4.03 below). From and after the Release Date, the Company shall not issue any
additional Mortgage Bonds, including Pledged Bonds, under the Mortgage. Notice
of the occurrence of the Release Date shall be given by the Trustee to the
Holders of the Notes in the manner provided for in the Original Indenture not
later than 30 days after the Company notifies the Trustee of the occurrence of
the Release Date.

     In connection with the establishment of the occurrence of the Release Date,
the Trustee shall be entitled to receive, may presume the correctness of, and
shall be fully protected in relying upon, an Officers' Certificate designating
the Release Date and stating that the conditions to the occurrence of the
Release Date have been satisfied.

     When the obligation of the Company to make payments with respect to the
principal of, and premium, if any, and interest on all or any part of the Bonds
shall be satisfied or deemed satisfied pursuant to the Original Indenture or
pursuant to this                       Supplemental Indenture, the Trustee
shall, upon written request of the Company, deliver to the Company without
charge therefor all of the Bonds so satisfied or deemed satisfied, together with
such appropriate instruments of transfer or release as may be reasonably
requested by the Company. All Bonds delivered to the Company in accordance with
this Section shall be delivered by the Company to the Mortgage Trustee for
cancellation.

     SECTION 4.03. Substitute Mortgage Bonds.

     (a) The Company shall notify the Trustee not less than 90 days prior to the
Release Date (or such shorter period as the Company and the Trustee may agree)
if the Company has determined

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to deliver to the Trustee on the Release Date Substitute Mortgage Bonds in an
aggregate principal amount equal to the aggregate principal amount of Notes and
any other Securities subject to the release provisions Outstanding on the
Release Date, in trust for the benefit of the Holders from time to time of the
Notes and any other Securities subject to the release provisions issued under
the Original Indenture, as supplemented, as security for any and all obligations
of the Company under the Notes and any other Securities subject to the release
provisions, including but not limited to, (1) the full and prompt payment of the
principal of and premium, if any, on the Notes and any other Securities subject
to the release provisions when and as the same shall become due and payable in
accordance with the terms and provisions of the Original Indenture, as
supplemented, or the Notes or such other Securities subject to the release
provisions, either at the stated maturity thereof, upon acceleration of the
maturity thereof or upon redemption, and (2) the full and prompt payment of any
interest on the Notes and any other Securities subject to the release provisions
when and as the same shall become due and payable in accordance with the terms
and provisions of the Original Indenture, as supplemented, or the Notes or such
other Securities subject to the release provisions.

     (b) The Substitute Mortgage Bonds to be delivered pursuant to the notice
described in Section 4.03(a) shall be delivered in separate series and issues
corresponding to the series and issues of Notes and other Securities subject to
the release provisions Outstanding on the Release Date, each series or issue of
Substitute Mortgage Bonds having the same stated rate or rates of interest (or
interest calculated in the same manner), Interest Payment Dates, stated maturity
date and redemption provisions, and in the same aggregate principal amount, as
the related series or issue of Notes or other Securities subject to the release
provisions outstanding on the Release Date. The Company shall enter into a
Substitute Mortgage for the issuance of Substitute Mortgage Bonds, and designate
it as such in the notice.

     (c) The notice described in Section 4.03(a) shall also state that on the
Release Date the Company shall deliver to the Trustee a supplemental indenture
to the Original Indenture that will provide, among other things, that upon the
issuance of Notes and other Securities subject to the release provisions on or
after the Release Date, the Company shall deliver to the Trustee in trust for
the benefit of the Holders as described in Section 4.03(a) hereof, and the
Trustee shall accept therefor, related series of Substitute Mortgage Bonds
registered in the name of the Trustee and conforming to the requirements therein
specified.

     (d) The determination whether to deliver Substitute Mortgage Bonds shall be
made in the Company's sole discretion and without any obligation to do so.

     (e) In the event that the Company does not deliver the notice described in
Section 4.03(a), the Notes and other Securities subject to the release
provisions Outstanding on the Release Date shall, as of the Release Date, no
longer be entitled to the benefit of the pledge of the Pledged Bonds and shall
thereafter be general unsecured obligations of the Company.

     (f) Article Four and related provisions of the Original Indenture shall
apply to Substitute Mortgage Bonds pledged to the Trustee hereunder and the
provisions thereof shall be deemed to refer to the Substitute Mortgage and the
Substitute Mortgage Bonds. If the Company elects to have the Notes secured by
Substitute Mortgage Bonds on and after the Release Date, Article Four and
related provisions may be amended to make appropriate reference to the
Substitute Mortgage

                                       10

<PAGE>

and the Substitute Mortgage Bonds; provided, that the consent of Holders shall
not be required in connection with such amendment.

     SECTION 4.04. Events of Default.

     (a) On and after the Release Date, Section 601(8) of the Original Indenture
shall no longer apply to the Notes.

     For purposes of the Notes, Section 601(8) of the Original Indenture shall
read, "the occurrence of an "event of default" as such term is defined in the
Mortgage; or".

     (b) On and after the Release Date, if the Notes become secured by
Substitute Mortgage Bonds pursuant to Section 4.03 above, the occurrence of a
"default" (as defined in the Substitute Mortgage) shall constitute an Event of
Default under Section 601 of the Original Indenture with respect to the Notes
and the references in Section 601(4) of the Original Indenture and related
provisions to "Mortgage Bonds" shall be deemed to refer to "Substitute Mortgage
Bonds."

                                  ARTICLE FIVE

                            MISCELLANEOUS PROVISIONS

     The Trustee makes no undertaking or representations in respect of, and
shall not be responsible in any manner whatsoever for and in respect of, the
validity or sufficiency of this                       Supplemental Indenture or
the proper authorization or the due execution hereof by the Company or for or in
respect of the recitals and statements contained herein, all of which recitals
and statements are made solely by the Company.

     Except as expressly amended hereby and by the supplemental indenture
appointing the Trustee as successor trustee, the Original Indenture shall
continue in full force and effect in accordance with the provisions thereof and
the Original Indenture is in all respects hereby ratified and confirmed. This
                      Supplemental Indenture and all its provisions shall be
deemed a part of the Original Indenture in the manner and to the extent herein
and therein provided.

     This                       Supplemental Indenture and the Notes shall be
governed by, and construed in accordance with, the laws of the State of New
York.

     This                       Supplemental Indenture may be executed in any
number of counterparts, each of which so executed shall be deemed to be an
original, but all such counterparts shall together constitute but one and the
same instrument.

                                       11

<PAGE>

     IN WITNESS WHEREOF, the parties hereto have caused this
Supplemental Indenture to be duly executed and attested, all as of the day and
year first above written.

                                        THE DETROIT EDISON COMPANY

                                        By: ____________________________________
                                        Name:
                                        Title:

ATTEST:

By: _________________________________
Name:
Title:

                                       12

<PAGE>

                                        J.P. MORGAN TRUST COMPANY,
                                        NATIONAL ASSOCIATION, as Trustee

                                        By: ____________________________________
                                        Name:
                                        Title:

ATTEST:

By: ________________________________
Name:
Title:

                                       13
<PAGE>

                                                                       EXHIBIT A

THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER
REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE OF A
DEPOSITORY. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN
CERTIFICATED FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE
DEPOSITORY TRUST COMPANY ("DTC"), TO A NOMINEE OF DTC OR BY DTC OR ANY SUCH
NOMINEE TO A SUCCESSOR OF DTC OR A NOMINEE OF SUCH SUCCESSOR. UNLESS THIS NOTE
IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF DTC TO THE ISSUER OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO.,
OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC)
ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY A PERSON IS
WRONGFUL, INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

NO. R-___                                                       $_______________
CUSIP ____________

                           THE DETROIT EDISON COMPANY

                         SERIES      % SENIOR NOTES DUE

Principal Amount: $_______________

Authorized Denomination: $1,000

Regular Record Date: close of business on the 15th calendar day (whether or not
a Business Day) prior to the relevant Interest Payment Date

Original Issue Date:

Stated Maturity:

Interest Payment Dates:                 and                 of each year,
commencing

Interest Rate:      % per annum

     THE DETROIT EDISON COMPANY, a corporation duly organized and existing under
the laws of the State of Michigan (the "Company", which term includes any
successor corporation under the Indenture hereinafter referred to), for value
received, hereby promises to pay to Cede & Co. or registered assigns, at the
office or agency of the Company in The City of New York, New York, the principal
sum of _________________________ ($_______________) on                 (the
"Stated Maturity"), in the coin or currency of the United States, and to pay
interest thereon from the Original Issue Date shown above, or from the most
recent Interest Payment Date to which interest has been paid or duly provided
for, in arrears on each Interest Payment Date as specified above, commencing on
                   and on the Stated Maturity

                                      A-1

<PAGE>

at the rate per annum shown above (the "Interest Rate") until the principal
hereof is due and payable, and on any overdue principal and premium and on any
overdue installment of interest. The interest installment so payable, and
punctually paid or duly provided for, on any Interest Payment Date will, as
provided in the Indenture, be paid to the Person in whose name this Note (or one
or more Predecessor Securities) is registered on the Regular Record Date as
specified above next preceding such Interest Payment Date. Except as otherwise
provided in the Indenture, any such interest not so punctually paid or duly
provided for will forthwith cease to be payable to the Holder on such Regular
Record Date and may either be paid to the Person in whose name this Note (or one
or more Predecessor Securities) is registered at the close of business on a
Special Record Date to be fixed by the Trustee for the payment of such defaulted
interest, notice whereof shall be given to Holders of Notes of this series not
less than ten 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, if any, on which the Notes of this series shall be listed,
and upon such notice as may be required by any such exchange, all as more fully
provided in the Indenture.

     Payments of interest on this Note will include interest accrued to but
excluding the respective Interest Payment Dates. Interest payments for this Note
shall be computed and paid on the basis of a 360-day year of twelve 30-day
months. The Company shall pay interest on overdue principal and premium, if any,
and, to the extent lawful, on overdue installments of interest at the rate per
annum borne by this Note. In the event that any Interest Payment Date,
Redemption Date or Maturity Date is not a Business Day, then the required
payment of principal, premium, if any, and interest will be made on the next
succeeding day that is a Business Day (and without any interest or other payment
in respect of any such delay), in each case with the same force and effect as if
made on such date. "Business Day" means any day other than a day on which
banking institutions in the State of New York or the State of Michigan are
authorized or obligated pursuant to law or executive order to close.

     Payment of principal of, premium, if any, and interest on the Notes shall
be made in such coin or currency of the United States of America as at the time
of payment is legal tender for payment of public and private debts. Payments of
principal of, premium, if any, and interest on Notes represented by a Global
Security shall be made by wire transfer of immediately available funds to the
Holder of such Global Security, provided that, in the case of payments of
principal and premium, if any, such Global Security is first surrendered to the
Paying Agent (as defined in the Indenture). If any of the Notes of this series
are no longer represented by a Global Security, (i) payments of principal,
premium, if any, and interest due at the Stated Maturity or earlier redemption
of such Securities shall be made at the office of the Paying Agent upon
surrender of such Securities to the Paying Agent, and (ii) payments of interest
shall be made, at the option of the Company, subject to such surrender where
applicable, by check mailed to the address of the Person entitled thereto as
such address shall appear in the Security Register.

     UNTIL THE RELEASE DATE (AS DEFINED BELOW), THIS NOTE SHALL BE SECURED BY
GENERAL AND REFUNDING MORTGAGE BONDS,            SERIES          (THE "MORTGAGE
BONDS") ISSUED AND DELIVERED BY THE COMPANY TO THE TRUSTEE (AS DEFINED BELOW)
UNDER THE COMPANY'S SUPPLEMENTAL INDENTURE DATED AS OF                   ,
SUPPLEMENTING THE MORTGAGE AND DEED OF TRUST DATED AS OF OCTOBER 1, 1924 BETWEEN
THE COMPANY AND J.P. MORGAN TRUST COMPANY, NATIONAL ASSOCIATION (THE "MORTGAGE
TRUSTEE"), PLEDGED BY THE COMPANY FOR THE BENEFIT OF THE HOLDERS OF

                                      A-2

<PAGE>

THE NOTES TO THE TRUSTEE UNDER THE INDENTURE (THE "MORTGAGE"). ON THE RELEASE
DATE, THE NOTES SHALL CEASE TO BE SECURED BY SUCH MORTGAGE BONDS AND, AT THE
COMPANY'S OPTION, SHALL EITHER (1) BECOME UNSECURED GENERAL OBLIGATIONS OF THE
COMPANY OR (2) BE SECURED BY SUBSTITUTE MORTGAGE BONDS UNDER A SUBSTITUTE
MORTGAGE.

     This Note shall not be entitled to any benefit under the Indenture
hereinafter referred to, be valid or become obligatory for any purpose until the
Certificate of Authentication hereon shall have been signed by or on behalf of
the Trustee.

     Unless the Certificate of Authentication hereon has been executed by the
Trustee or a duly appointed Authentication Agent referred to herein, this Note
shall not be entitled to any benefit under the Indenture or be valid or
obligatory for any purpose.

     This Note is one of a duly authorized series of Securities of the Company
(herein sometimes referred to as the "Notes"), specified in the Indenture, all
issued or to be issued in one or more series under and pursuant to a Collateral
Trust Indenture dated as of June 30, 1993 (the "Original Indenture") duly
executed and delivered between the Company and J.P. Morgan Trust Company,
National Association, as successor Trustee (herein referred to as the
"Trustee"), as supplemented through and including a                 Supplemental
Indenture dated as of                     (together with the Original Indenture,
the "Indenture") between the Company and the Trustee, to which Indenture and all
indentures supplemental thereto reference is hereby made for a description of
the respective rights, limitations of rights, obligations, duties and immunities
thereunder of the Trustee, the Company and the registered Holders of the Notes
and of the terms upon which the Notes are, and are to be, authenticated and
delivered.

     This Note is not subject to repayment at the option of the Holder hereof.
Except as provided below, this Note is not redeemable by the Company prior to
maturity and is not subject to any sinking fund.

     This Note will be redeemable at the option of the Company, in whole at any
time or in part from time to time (any such date of optional redemption, an
"Optional Redemption Date," which shall be a "Redemption Date" for purposes of
the Indenture), at an optional redemption price (which shall be a "Redemption
Price" for purposes of the Indenture) equal to the greater of (i) 100% of the
principal amount of this Note to be redeemed and (ii) the sum of the present
values of the remaining scheduled payments of principal and interest of this
Note to be redeemed (not including any portion of any payments of interest
accrued to the Optional Redemption Date) until Stated Maturity, in each case
discounted from their respective scheduled payment dates to such Optional
Redemption Date on a semiannual basis (assuming a 360-day year consisting of
30-day months) at the Adjusted Treasury Rate (as defined below) plus
basis points, as determined by the Reference Treasury Dealer (as defined below),
plus, in each case, accrued and unpaid interest thereon to the Redemption Date.

     Notwithstanding the foregoing, installments of interest on this Note that
are due and payable on Interest Payment Dates falling on or prior to a
Redemption Date will be payable on the Interest Payment Date to the registered
Holders as of the close of business on the relevant Record Date.

     "Adjusted Treasury Rate" means, with respect to any Optional Redemption
Date, the rate per annum equal to the semiannual equivalent yield to maturity of
the Comparable Treasury

                                      A-3

<PAGE>

Issue, calculated on the third Business Day preceding such Optional Redemption
Date assuming a price for the Comparable Treasury Issue (expressed as a
percentage of its principal amount) equal to the Comparable Treasury Price for
such Optional Redemption Date.

     "Comparable Treasury Issue" means the United States Treasury security
selected by the Reference Treasury Dealer as having a maturity comparable to the
remaining term of this Note 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 this
Note.

     "Comparable Treasury Price" means, with respect to any Optional Redemption
Date, (i) the average of the Reference Treasury Dealer Quotations for such
Optional Redemption Date, after excluding the highest and lowest such Reference
Treasury Dealer Quotations, or (ii) if the Trustee obtains fewer than two such
Reference Treasury Dealer Quotations, the average of all such quotations, or
(iii) if only one Reference Treasury Dealer Quotation is received, such
quotation.

     "Reference Treasury Dealer" means each of: (i)                    ,
                   , and                     (or their respective affiliates
which are Primary Treasury Dealers), and their respective successors; provided,
however, that if any of the foregoing shall cease to be a primary U.S.
government securities dealer in the United States (a "Primary Treasury Dealer"),
the Company will substitute therefor another Primary Treasury Dealer; and (ii)
any other Primary Treasury Dealer(s) selected by the Trustee after consultation
with the Company.

     "Reference Treasury Dealer Quotation" means, with respect to each Reference
Treasury Dealer and any Optional Redemption Date, the average, as determined by
the Trustee, 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 the Trustee by such Reference Treasury Dealer at 5:00 p.m., New York
City time, on the third Business Day preceding such Optional Redemption Date.

     Notice of any optional redemption will be mailed at least 30 days but not
more than 60 days before the Optional Redemption Date to the Holder hereof at
its registered address.

     If notice has been provided in accordance with the Indenture and funds for
the redemption of this Note called for redemption have been made available on
the Redemption Date, this Note will cease to bear interest on the date fixed for
redemption. Thereafter, the only right of the Holder hereof will be to receive
payment of the Redemption Price.

     The Company will notify the Trustee at least 60 days prior to giving notice
of redemption (or such shorter period as is satisfactory to the Trustee) of the
aggregate principal amount of Notes to be redeemed and the Redemption Date. If
the Company elects to redeem all or a portion of the Notes, the redemption will
be conditional upon receipt by the Paying Agent or the Trustee of monies
sufficient to pay the Redemption Price. If the Notes are only partially redeemed
by the Company, the Trustee shall select which Notes are to be redeemed in a
manner it deems fair and appropriate in accordance with the terms of the
Indenture.

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

                                      A-4

<PAGE>

     In case an Event of Default, as defined in the Indenture, shall have
occurred and be continuing, the principal of all of the Notes may be declared,
and upon such declaration shall become, due and payable, in the manner, with the
effect and subject to the conditions provided in the Indenture.

     The Indenture contains provisions for defeasance at any time of the entire
indebtedness of this Note upon compliance by the Company with certain conditions
set forth therein.

     The Indenture contains provisions permitting the Company and the Trustee,
with the consent of the registered Holders of not less than a majority in
aggregate principal amount of the outstanding Securities of each series affected
at the time, as defined in the Indenture, to execute supplemental indentures for
the purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions of the Indenture or of any supplemental indenture or of
modifying in any manner the rights of the registered Holders of the Securities;
provided, however, that no such supplemental indenture shall (i) extend the
fixed maturity of any Securities of any series, or reduce the principal amount
thereof, or reduce the rate of or extend the time of payment of interest
thereon, or reduce any premium payable upon the redemption thereof, without the
consent of the registered Holder of each Security so affected or (ii) reduce the
aforesaid percentage of Securities, the registered Holders of which are required
to consent to any such supplemental indenture, without the consent of the
registered Holders of each Security then outstanding and affected thereby. The
Indenture also contains provisions permitting (i) the registered Holders of at
least 66 2/3% in aggregate principal amount of the Securities of all series at
the time outstanding affected thereby, on behalf of the registered Holders of
the Securities of such series, to waive compliance by the Company with certain
provisions of the Indenture and (ii) the registered Holders of a majority in
aggregate principal amount of the Securities of all series at the time
outstanding affected thereby, on behalf of the registered Holders of the
Securities of such series, to waive certain past defaults under the Indenture
and their consequences. Any such consent or waiver by the registered Holder of
this Note (unless revoked as provided in the Indenture) shall be conclusive and
binding upon such registered Holder and upon all future registered Holders and
owners of this Note and of any Note issued in exchange hereof or in place hereof
(whether by registration of transfer or otherwise), irrespective of whether or
not any notation of such consent or waiver is made upon this Note.

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

     Prior to the Release Date, the Notes of this series shall be secured by a
series of Mortgage Bonds (the "Related Series of Bonds"), delivered by the
Company to the Trustee for the benefit of the Holders of the Notes. Reference is
made to the Mortgage and the Indenture for a description of the rights of the
Trustee as Holder of the Related Series of Bonds, the property mortgaged and
pledged under the Mortgage and the rights of the Company and of the Mortgage
Trustee in respect thereof, the duties and immunities of the Mortgage Trustee
and the terms and conditions upon which the Related Series of Bonds are secured
and the circumstances under which additional Mortgage Bonds may be issued.

     FROM AND AFTER SUCH TIME AS ALL BONDS, OTHER THAN (1) PLEDGED BONDS,
INCLUDING THE RELATED SERIES OF BONDS, AND (2) MORTGAGE BONDS

                                      A-5

<PAGE>

(EXCLUSIVE OF PLEDGED BONDS) WHICH DO NOT IN AGGREGATE PRINCIPAL AMOUNT EXCEED
THE GREATER OF FIVE PERCENT (5%) OF NET TANGIBLE ASSETS OR FIVE PERCENT (5%) OF
CAPITALIZATION, HAVE BEEN RETIRED THROUGH PAYMENT, REDEMPTION OR OTHERWISE
(INCLUDING THOSE MORTGAGE BONDS THE PAYMENT FOR WHICH HAS BEEN PROVIDED FOR IN
ACCORDANCE WITH THE MORTGAGE) AT, BEFORE OR AFTER THE MATURITY THEREOF, PROVIDED
THAT NO DEFAULT OR EVENT OF DEFAULT HAS OCCURRED AND IS CONTINUING (THE "RELEASE
DATE"), THE RELATED SERIES OF BONDS SHALL CEASE TO SECURE THE NOTES IN ANY
MANNER.

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

     Prior to due presentment for registration of transfer of this Note, the
Company, the Trustee, any Paying Agent and any Note Registrar may deem and treat
the registered Holder hereof as the absolute owner hereof (whether or not this
Note shall be overdue and notwithstanding any notice of ownership or writing
hereon made by anyone other than the Note Registrar) for the purpose of
receiving payment of or on account of the principal hereof and interest due
hereon and for all other purposes, and neither the Company nor the Trustee nor
any Paying Agent nor any Security Registrar shall be affected by any notice to
the contrary.

     The Notes of this series are issuable only in fully registered form without
coupons in denominations of $1,000 and any integral multiple thereof. This
Global Security is exchangeable for Notes in definitive form only under certain
limited circumstances set forth in the Indenture. As provided in the Indenture
and subject to certain limitations therein set forth, Notes of this series are
exchangeable for a like aggregate principal amount of Notes of this series of a
different authorized denomination, as requested by the registered Holder
surrendering the same.

     As set forth in, and subject to the provisions of, the Indenture, no Holder
of any Note will have any right to institute any proceeding with respect to the
Indenture or for any remedy thereunder, unless (i) such Holder shall have
previously given to the Trustee written notice of a continuing Event of Default
with respect to the Notes of this series, (ii) the Holders of not less than 25%
in principal amount of the outstanding Notes of this series shall have made
written request, and offered reasonable indemnity, to the Trustee to institute
such proceeding as trustee, (iii) the Trustee shall have failed to institute
such proceeding within 60 days and (iv) the Trustee shall not have received from
the Holders of a majority in principal amount of the outstanding Notes of this
series a direction inconsistent with such request within such 60-day period;
provided, however, that such limitations do not apply to a suit instituted by
the Holder hereof for

                                      A-6

<PAGE>

the enforcement of payment of the principal of or any interest on this Note on
or after the respective due dates expressed herein.

     All terms used in this Note which are defined in the Indenture shall have
the meanings assigned to them in the Indenture.

                                      A-7

<PAGE>

     IN WITNESS WHEREOF, the parties hereto have caused this Note to be duly
executed and attested, all as of the day and year first above written.

                                        THE DETROIT EDISON COMPANY

[Corporate Seal]

                                        By: ____________________________________
                                        Name:
                                        Title:

ATTEST:

By: _________________________________
Name:
Title:

                                      A-8

<PAGE>

                          CERTIFICATE OF AUTHENTICATION

     This is one of the Notes of the series of Notes described in the within
mentioned Indenture.

                                        J.P. MORGAN TRUST COMPANY,
                                        NATIONAL ASSOCIATION
                                        as Trustee

                                        By: ____________________________________
                                            Authorized Signatory

Date: ___________________

                                      A-9

<PAGE>

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

     _______________________________________________________________________
     (Please insert Social Security or Other Identifying Number of Assignee)

     _______________________________________________________________________
     (Please print or type name and address, including zip code of assignee)

the within Note and all rights thereunder, hereby irrevocably constituting and
appointing such person attorneys to transfer the within Note on the books of the
Issuer, with full power of substitution in the premises.

Dated: __________________

     NOTICE: The signature of this assignment must correspond with the name as
written upon the face of the within Note in every particular, without alteration
or enlargement or any change whatever and NOTICE: Signature(s) must be
guaranteed by a financial institution that is a member of the Securities
Transfer Agents Medallion Program ("STAMP"), the Stock Exchange, Inc. Medallion
Signature Program ("MSP"). When assignment is made by a guardian, trustee,
executor or administrator, an officer of a corporation, or anyone in a
representative capacity, proof of his or her authority to act must accompany
this Note.

                                      A-10<PAGE>

                                                                    Exhibit 4.63

                                    INDENTURE

                             DATED AS OF

                                   ----------

                           THE DETROIT EDISON COMPANY
                   (2000 2nd Avenue, Detroit, Michigan 48226)

                                       TO

                 J.P. MORGAN TRUST COMPANY, NATIONAL ASSOCIATION
                 (611 Woodward Avenue, Detroit, Michigan 48226)

                                   AS TRUSTEE

                                   ----------

                   SUPPLEMENTAL TO MORTGAGE AND DEED OF TRUST
                           DATED AS OF OCTOBER 1, 1924

                                  PROVIDING FOR

                    (A) GENERAL AND REFUNDING MORTGAGE BONDS,
                                        SERIES

                                       AND

                          (B) RECORDING AND FILING DATA

                                       1

<PAGE>

                               TABLE OF CONTENTS*

<TABLE>
<CAPTION>
                                                                              PAGE
                                                                              ----
<S>                                                                           <C>
PARTIES....................................................................     3
RECITALS...................................................................     3
   Original Indenture and Supplementals....................................     3
   Issue of Bonds Under Indenture..........................................     3
   Bonds Heretofore Issued.................................................     4
   Reason for Creation of New Series.......................................    10
   Bonds to be            Series       ....................................    10
   Further Assurance.......................................................    10
   Authorization of Supplemental Indenture.................................    10
   Consideration for Supplemental Indenture................................    11
PART I. CREATION OF           SERIES OF BONDS, GENERAL AND REFUNDING
        MORTGAGE BONDS,            SERIES        ..........................    11
   Sec. 1. Terms of Bonds of            Series        .....................    11
   Sec. 2. [Release].......................................................    14
   Sec. 3. Redemption of Bonds of            Series         ...............    14
   Sec. 4. [Redemption of Bonds of               Series         in Event
           of Acceleration of Notes].......................................    15
   Sec. 4  [Consent].......................................................    16
   Sec. 5. Form of Bonds of            Series        ......................    16
           Form of Trustee's Certificate...................................    18
           Form of Reverse of Bond.........................................    18
PART II. RECORDING AND FILING DATA.........................................    21
   Recording and Filing of Original Indenture..............................    21
   Recording and Filing of Supplemental Indentures.........................    21
   Recording and Filing of Supplemental Indenture Dated as of           ...    26
   Recording of Certificates of Provision for Payment......................    27
PART III. THE TRUSTEE......................................................    28
   Terms and Conditions of Acceptance of Trust by Trustee..................    28
PART IV. MISCELLANEOUS.....................................................    28
   Confirmation of Section 318(c) of Trust Indenture Act...................    28
   Execution in Counterparts...............................................    28
   Testimonium.............................................................    28
   Execution by Company....................................................    29
   Acknowledgment of Execution by Company..................................    30
   Execution by Trustee....................................................    31
   Acknowledgment of Execution by Trustee..................................    32
   Affidavit as to Consideration and Good Faith............................    33
</TABLE>

----------
*    This Table of Contents shall not have any bearing upon the interpretation
     of any of the terms or provisions of this Indenture.

                                       2

<PAGE>

<TABLE>
<S>                      <C>
PARTIES.                 SUPPLEMENTAL INDENTURE, dated as of the      day of
                                   , in the year           , between THE DETROIT
                         EDISON COMPANY, a corporation organized and existing
                         under the laws of the State of Michigan and a public
                         utility (hereinafter called the "Company"), party of
                         the first part, and J.P. Morgan Trust Company, National
                         Association, a trust company organized and existing
                         under the laws of the United States, having a corporate
                         trust office at 611 Woodward Avenue, Detroit, Michigan
                         48226, as successor Trustee under the Mortgage and Deed
                         of Trust hereinafter mentioned (hereinafter called the
                         "Trustee"), party of the second part.

ORIGINAL INDENTURE AND   WHEREAS, the Company has heretofore executed and
SUPPLEMENTALS.           delivered its Mortgage and Deed of Trust (hereinafter
                         referred to as the "Original Indenture"), dated as of
                         October 1, 1924, to the Trustee, for the security of
                         all bonds of the Company outstanding thereunder, and
                         pursuant to the terms and provisions of the Original
                         Indenture, indentures dated as of, respectively, June
                         1, 1925, August 1, 1927, February 1, 1931, June 1,
                         1931, October 1, 1932, September 25, 1935, September 1,
                         1936, November 1, 1936, February 1, 1940, December 1,
                         1940, September 1, 1947, March 1, 1950, November 15,
                         1951, January 15, 1953, May 1, 1953, March 15, 1954,
                         May 15, 1955, August 15, 1957, June 1, 1959, December
                         1, 1966, October 1, 1968, December 1, 1969, July 1,
                         1970, December 15, 1970, June 15, 1971, November 15,
                         1971, January 15, 1973, May 1, 1974, October 1, 1974,
                         January 15, 1975, November 1, 1975, December 15, 1975,
                         February 1, 1976, June 15, 1976, July 15, 1976,
                         February 15, 1977, March 1, 1977, June 15, 1977, July
                         1, 1977, October 1, 1977, June 1, 1978, October 15,
                         1978, March 15, 1979, July 1, 1979, September 1, 1979,
                         September 15, 1979, January 1, 1980, April 1, 1980,
                         August 15, 1980, August 1, 1981, November 1, 1981, June
                         30, 1982, August 15, 1982, June 1, 1983, October 1,
                         1984, May 1, 1985, May 15, 1985, October 15, 1985,
                         April 1, 1986, August 15, 1986, November 30, 1986,
                         January 31, 1987, April 1, 1987, August 15, 1987,
                         November 30, 1987, June 15, 1989, July 15, 1989,
                         December 1, 1989, February 15, 1990, November 1, 1990,
                         April 1, 1991, May 1, 1991, May 15, 1991, September 1,
                         1991, November 1, 1991, January 15, 1992, February 29,
                         1992, April 15, 1992, July 15, 1992, July 31, 1992,
                         November 30, 1992, December 15, 1992, January 1, 1993,
                         March 1, 1993, March 15, 1993, April 1, 1993, April 26,
                         1993, May 31, 1993, June 30, 1993, June 30, 1993,
                         September 15, 1993, March 1, 1994, June 15, 1994,
                         August 15, 1994, December 1, 1994, August 1, 1995,
                         August 1, 1999, August 15, 1999, January 1, 2000, April
                         15, 2000, August 1, 2000, March 15, 2001, May 1, 2001,
                         August 15, 2001, September 15, 2001, September 17,
                         2002, October 15, 2002, December 1, 2002, August 1,
                         2003, March 15, 2004, July 1, 2004, February 1, 2005,
                         April 1, 2005, August 1, 2005, September 15, 2005,
                         September 30, 2005, and May 15, 2006 supplemental to
                         the Original Indenture, have heretofore been entered
                         into between the Company and the Trustee (the Original
                         Indenture and all indentures supplemental thereto
                         together being hereinafter sometimes referred to as the
                         "Indenture"); and

ISSUE OF BONDS UNDER     WHEREAS, the Indenture provides that said bonds shall
INDENTURE.               be issuable in one or more series, and makes provision
                         that the rates of interest and dates for the payment
                         thereof, the date of maturity or dates of maturity, if
                         of serial maturity, the terms and rates of optional
                         redemption (if redeemable), the forms of registered
                         bonds without coupons of any series and any other
                         provisions and agreements in respect thereof, in the
                         Indenture provided and permitted, as the
</TABLE>

                                       3

<PAGE>

<TABLE>
<S>                      <C>
                         Board of Directors may determine, may be expressed in a
                         supplemental indenture to be made by the Company to the
                         Trustee thereunder; and

BONDS HERETOFORE         WHEREAS, bonds in the principal amount of
ISSUED.                  dollars ($          ) have heretofore been issued under
                         the Indenture as follows, viz:
</TABLE>

<TABLE>
<S>        <C>                                <C>
(1)        Bonds of Series A                  -- Principal Amount $26,016,000,
(2)        Bonds of Series B                  -- Principal Amount $23,000,000,
(3)        Bonds of Series C                  -- Principal Amount $20,000,000,
(4)        Bonds of Series D                  -- Principal Amount $50,000,000,
(5)        Bonds of Series E                  -- Principal Amount $15,000,000,
(6)        Bonds of Series F                  -- Principal Amount $49,000,000,
(7)        Bonds of Series G                  -- Principal Amount $35,000,000,
(8)        Bonds of Series H                  -- Principal Amount $50,000,000,
(9)        Bonds of Series I                  -- Principal Amount $60,000,000,
(10)       Bonds of Series J                  -- Principal Amount $35,000,000,
(11)       Bonds of Series K                  -- Principal Amount $40,000,000,
(12)       Bonds of Series L                  -- Principal Amount $24,000,000,
(13)       Bonds of Series M                  -- Principal Amount $40,000,000,
(14)       Bonds of Series N                  -- Principal Amount $40,000,000,
(15)       Bonds of Series O                  -- Principal Amount $60,000,000,
(16)       Bonds of Series P                  -- Principal Amount $70,000,000,
(17)       Bonds of Series Q                  -- Principal Amount $40,000,000,
(18)       Bonds of Series W                  -- Principal Amount $50,000,000,
(19)       Bonds of Series AA                 -- Principal Amount $100,000,000,
(20)       Bonds of Series BB                 -- Principal Amount $50,000,000,
(21)       Bonds of Series CC                 -- Principal Amount $50,000,000,
(22)       Bonds of Series UU                 -- Principal Amount $100,000,000,
(23-31)    Bonds of Series DDP Nos. 1-9       -- Principal Amount $14,305,000,
</TABLE>

                                       4

<PAGE>

<TABLE>
<S>        <C>                                <C>
(32-45)    Bonds of Series FFR Nos. 1-14      -- Principal Amount $45,600,000,
(46-67)    Bonds of Series GGP Nos. 1-22      -- Principal Amount $42,300,000,
(68)       Bonds of Series HH                 -- Principal Amount $50,000,000,
(69-90)    Bonds of Series IIP Nos. 1-22      -- Principal Amount $3,750,000,
(91-98)    Bonds of Series JJP Nos. 1-8       -- Principal Amount $6,850,000,
(99-107)   Bonds of Series KKP Nos. 1-9       -- Principal Amount $34,890,000,
(108-122)  Bonds of Series LLP Nos. 1-15      -- Principal Amount $8,850,000,
(123-143)  Bonds of Series NNP Nos. 1-21      -- Principal Amount $47,950,000,
(144-161)  Bonds of Series OOP Nos. 1-18      -- Principal Amount $18,880,000,
(162-180)  Bonds of Series QQP Nos. 1-19      -- Principal Amount $13,650,000,
(181-195)  Bonds of Series TTP Nos. 1-15      -- Principal Amount $3,800,000,
(196)      Bonds of 1980 Series A             -- Principal Amount $50,000,000,
(197-221)  Bonds of 1980 Series CP Nos. 1-25  -- Principal Amount $35,000,000,
(222-232)  Bonds of 1980 Series DP Nos. 1-11  -- Principal Amount $10,750,000,
(233-248)  Bonds of 1981 Series AP Nos. 1-16  -- Principal Amount $124,000,000,
(249)      Bonds of 1985 Series A             -- Principal Amount $35,000,000,
(250)      Bonds of 1985 Series B             -- Principal Amount $50,000,000,
(251)      Bonds of Series PP                 -- Principal Amount $70,000,000,
(252)      Bonds of Series RR                 -- Principal Amount $70,000,000,
(253)      Bonds of Series EE                 -- Principal Amount $50,000,000,
(254-255)  Bonds of Series MMP and MMP No. 2  -- Principal Amount $5,430,000,
(256)      Bonds of Series T                  -- Principal Amount $75,000,000,
(257)      Bonds of Series U                  -- Principal Amount $75,000,000,
(258)      Bonds of 1986 Series B             -- Principal Amount $100,000,000,
(259)      Bonds of 1987 Series D             -- Principal Amount $250,000,000,
</TABLE>

                                       5

<PAGE>

<TABLE>
<S>        <C>                                <C>
(260)      Bonds of 1987 Series E             -- Principal Amount $150,000,000,
(261)      Bonds of 1987 Series C             -- Principal Amount $225,000,000,
(262)      Bonds of Series V                  -- Principal Amount $100,000,000,
(263)      Bonds of Series SS                 -- Principal Amount $150,000,000,
(264)      Bonds of 1980 Series B             -- Principal Amount $100,000,000,
(265)      Bonds of 1986 Series C             -- Principal Amount $200,000,000,
(266)      Bonds of 1986 Series A             -- Principal Amount $200,000,000,
(267)      Bonds of 1987 Series B             -- Principal Amount $175,000,000,
(268)      Bonds of Series X                  -- Principal Amount $100,000,000,
(269)      Bonds of 1987 Series F             -- Principal Amount $200,000,000,
(270)      Bonds of 1987 Series A             -- Principal Amount $300,000,000,
(271)      Bonds of Series Y                  -- Principal Amount $60,000,000,
(272)      Bonds of Series Z                  -- Principal Amount $100,000,000,
(273)      Bonds of 1989 Series A             -- Principal Amount $300,000,000,
(274)      Bonds of 1984 Series AP            -- Principal Amount $2,400,000,
(275)      Bonds of 1984 Series BP            -- Principal Amount $7,750,000,
(276)      Bonds of Series R                  -- Principal Amount $100,000,000,
(277)      Bonds of Series S                  -- Principal Amount $150,000,000,
(278)      Bonds of 1993 Series D             -- Principal Amount $100,000,000,
(279)      Bonds of 1992 Series E             -- Principal Amount $50,000,000,
(280)      Bonds of 1993 Series B             -- Principal Amount $50,000,000,
(281)      Bonds of 1989 Series BP            -- Principal Amount $66,565,000,
(282)      Bonds of 1990 Series A             -- Principal Amount $194,649,000,
(283)      Bonds of 1990 Series D             -- Principal Amount $0,
(284)      Bonds of 1993 Series G             -- Principal Amount $225,000,000,
(285)      Bonds of 1993 Series K             -- Principal Amount $160,000,000,
</TABLE>

                                       6

<PAGE>

<TABLE>
<S>        <C>                                <C>
(286)      Bonds of 1991 Series EP            -- Principal Amount $41,480,000,
(287)      Bonds of 1993 Series H             -- Principal Amount $50,000,000,
(288)      Bonds of 1999 Series D             -- Principal Amount $40,000,000,
(289)      Bonds of 1991 Series FP            -- Principal Amount $98,375,000,
(290)      Bonds of 1992 Series BP            -- Principal Amount $20,975,000,
(291)      Bonds of 1992 Series D             -- Principal Amount $300,000,000,
(292)      Bonds of 1992 Series CP            -- Principal Amount $35,000,000,
(293)      Bonds of 1993 Series C             -- Principal Amount $225,000,000,
(294)      Bonds of 1993 Series E             -- Principal Amount $400,000,000,
(295)      Bonds of 1993 Series J             -- Principal Amount $300,000,000,
(296-301)  Bonds of Series KKP Nos. 10-15     -- Principal Amount $179,590,000,
(302)      Bonds of 1989 Series BP No. 2      -- Principal Amount $36,000,000,
(303)      Bonds of 1993 Series FP            -- Principal Amount $5,685,000,
(304)      Bonds of 1993 Series IP            -- Principal Amount $5,825,000,
(305)      Bonds of 1994 Series AP            -- Principal Amount $7,535,000,
(306)      Bonds of 1994 Series BP            -- Principal Amount $12,935,000,
(307)      Bonds of 1994 Series DP            -- Principal Amount $23,700,000,
(308)      Bonds of 1994 Series C             -- Principal Amount $200,000,000,
(309)      Bonds of 2000 Series A             -- Principal Amount $220,000,000,
(310)      Bonds of 2005 Series A             -- Principal Amount $200,000,000,
(311)      Bonds of 1995 Series AP            -- Principal Amount $97,000,000,
(312)      Bonds of 1995 Series BP            -- Principal Amount $22,175,000,
(313)      Bonds of 2001 Series D             -- Principal Amount $200,000,000, and
(314)      Bonds of 2005 Series B             -- Principal Amount $200,000,000;
</TABLE>

<TABLE>
<S>                      <C>
                         all of which have either been retired and cancelled, or
                         no longer represent obligations of the Company, having
                         matured or having been called for redemption and funds
                         necessary to effect the payment, redemption and
                         retirement thereof having been deposited with the
                         Trustee as a special trust fund to be applied for such
                         purpose;

</TABLE>

                                       7

<PAGE>

<TABLE>
<S>                      <C>
(315)                    Bonds of 1990 Series B in the principal amount of Two
                         hundred fifty-six million nine hundred thirty-two
                         thousand dollars ($256,932,000) of which One hundred
                         sixty-one million seven hundred seventy-two thousand
                         dollars ($161,772,000) principal amount have heretofore
                         been retired;

(316)                    Bonds of 1990 Series C in the principal amount of
                         Eighty-five million four hundred seventy-five thousand
                         dollars ($85,475,000) of which Fifty-eight million one
                         hundred twenty-three thousand dollars ($58,123,000)
                         principal amount have heretofore been retired;

(317)                    INTENTIONALLY RESERVED FOR 1990 SERIES E;

(318)                    INTENTIONALLY RESERVED FOR 1990 SERIES F;

(319)                    Bonds of 1991 Series AP in the principal amount of
                         Thirty-two million three hundred seventy-five thousand
                         dollars ($32,375,000), all of which are outstanding at
                         the date hereof;

(320)                    Bonds of 1991 Series BP in the principal amount of
                         Twenty-five million nine hundred ten thousand dollars
                         ($25,910,000), all of which are outstanding at the date
                         hereof;

(321)                    Bonds of 1991 Series CP in the principal amount of
                         Thirty-two million eight hundred thousand dollars
                         ($32,800,000), all of which are outstanding at the date
                         hereof;

(322)                    Bonds of 1991 Series DP in the principal amount of
                         Thirty-seven million six hundred thousand dollars
                         ($37,600,000), all of which are outstanding at the date
                         hereof;

(323)                    Bonds of 1992 Series AP in the principal amount of
                         Sixty-six million dollars ($66,000,000), all of which
                         are outstanding at the date hereof;

(324)                    Bonds of 1993 Series AP in the principal amount of
                         Sixty-five million dollars ($65,000,000), all of which
                         are outstanding at the date hereof;

(325)                    Bonds of 1999 Series AP in the principal amount of One
                         hundred eighteen million three hundred sixty thousand
                         dollars ($118,360,000), all of which are outstanding at
                         the date hereof;

(326)                    Bonds of 1999 Series BP in the principal amount of
                         Thirty-nine million seven hundred forty-five thousand
                         dollars ($39,745,000), all of which are outstanding of
                         the date hereof;

(327)                    Bonds of 1999 Series CP in the principal amount of
                         Sixty-six million five hundred sixty-five thousand
                         dollars ($66,565,000), all of which are outstanding at
                         the date hereof;

(328)                    Bonds of 2000 Series B in the principal amount of Fifty
                         million seven hundred forty-five thousand dollars
                         ($50,745,000), all of which are outstanding at the date
                         hereof;
</TABLE>

                                       8

<PAGE>

<TABLE>
<S>                      <C>
(329)                    Bonds of 2001 Series AP in the principal amount of
                         Thirty-one million ($31,000,000), all of which are
                         outstanding at the date hereof;

(330)                    Bonds of 2001 Series BP in the principal amount of
                         Eighty-two million three hundred fifty thousand
                         ($82,350,000), all of which are outstanding at the date
                         hereof;

(331)                    Bonds of 2001 Series CP in the principal amount of One
                         hundred thirty-nine million eight hundred fifty-five
                         thousand dollars ($139,855,000), all of which are
                         outstanding at the date hereof;

(332)                    Bonds of 2001 Series E in the principal amount of Five
                         hundred million dollars ($500,000,000), all of which
                         are outstanding at the date hereof;

(333)                    Bonds of 2002 Series A in the principal amount of Two
                         hundred twenty-five million dollars ($225,000,000), all
                         of which are outstanding at the date hereof;

(334)                    Bonds of 2002 Series B in the principal amount of Two
                         hundred twenty-five million dollars ($225,000,000), all
                         of which are outstanding at the date hereof;

(335)                    Bonds of 2002 Series C in the principal amount of
                         Sixty-four million three hundred thousand dollars
                         ($64,300,000), all of which are outstanding at the date
                         hereof;

(336)                    Bonds of 2002 Series D in the principal amount of
                         Fifty-five million nine hundred seventy-five thousand
                         dollars ($55,975,000), all of which are outstanding at
                         the date hereof;

(337)                    Bonds of 2003 Series A in the principal amount of
                         Forty-nine million dollars ($49,000,000), all of which
                         are outstanding at the date hereof;

(338)                    Bonds of 2004 Series A in the principal amount of
                         Thirty-six million dollars ($36,000,000), all of which
                         are outstanding at the date hereof;

(339)                    Bonds of 2004 Series B in the principal amount of
                         Thirty-one million nine hundred eighty thousand dollars
                         ($31,980,000), all of which are outstanding at the date
                         hereof;

(340)                    Bonds of 2004 Series D in the principal amount of Two
                         hundred million dollars ($200,000,000), all of which
                         are outstanding at the date hereof;

(341)                    Bonds of 2005 Series AR in the principal amount of Two
                         hundred million dollars ($200,000,000), all of which
                         are outstanding at the date hereof;

(342)                    Bonds of 2005 Series BR in the principal amount of Two
                         hundred million dollars ($200,000,000), all of which
                         are outstanding at the date hereof;

(343)                    Bonds of 2005 Series DT in the principal amount of One
                         hundred nineteen million one hundred seventy-five
                         thousand dollars ($119,175,000), all of which are
                         outstanding at the date hereof;

(344)                    Bonds of 2005 Series C in the principal amount of One
                         hundred million dollars ($100,000,000), all of which
                         are outstanding at the date hereof;
</TABLE>

                                       9
<PAGE>

<TABLE>
<S>                      <C>
(345)                    Bonds of 2005 Series E in the principal amount of Two
                         hundred fifty million dollars ($250,000,000), all of
                         which are outstanding at the date hereof; and

(346)                    Bonds of 2006 Series A in the principal amount of Two
                         hundred fifty million dollars ($250,000,000), all of
                         which are outstanding at the date hereof;

                         accordingly, the Company has issued and has presently
                         outstanding            dollars ($          ) aggregate
                         principal amount of its General and Refunding Mortgage
                         Bonds (the "Bonds") at the date hereof.

REASON FOR CREATION OF   WHEREAS, [the Company intends to issue a series of
NEW SERIES.              Notes under the Note Indenture herein referred to, and,
                         pursuant to the Note Indenture, the Company has agreed
                         to issue its General and Refunding Mortgage Bonds under
                         the Indenture in order further to secure its
                         obligations with respect to such Notes] [the Company
                         desires to issue and sell a new series of bonds to be
                         issued under the Indenture in the aggregate principal
                         amount of up to         million dollars ($          )];
                         and

BONDS TO BE     SERIES   WHEREAS, for such purpose the Company desires by this
    .                    Supplemental Indenture to create a new series of bonds,
                         to be designated "General and Refunding Mortgage Bonds,
                                   Series    ," in the aggregate principal
                         amount of           million dollars ($          ), to
                         be authenticated and delivered pursuant to Section 8 of
                         Article III of the Indenture; and

FURTHER ASSURANCE.       WHEREAS, the Original Indenture, by its terms, includes
                         in the property subject to the lien thereof all of the
                         estates and properties, real, personal and mixed,
                         rights, privileges and franchises of every nature and
                         kind and wheresoever situate, then or thereafter owned
                         or possessed by or belonging to the Company or to which
                         it was then or at any time thereafter might be entitled
                         in law or in equity (saving and excepting, however, the
                         property therein specifically excepted or released from
                         the lien thereof), and the Company therein covenanted
                         that it would, upon reasonable request, execute and
                         deliver such further instruments as may be necessary or
                         proper for the better assuring and confirming unto the
                         Trustee all or any part of the trust estate, whether
                         then or thereafter owned or acquired by the Company
                         (saving and excepting, however, property specifically
                         excepted or released from the lien thereof); and

AUTHORIZATION OF         WHEREAS, the Company in the exercise of the powers and
SUPPLEMENTAL             authority conferred upon and reserved to it under and
INDENTURE.               by virtue of the provisions of the Indenture, and
                         pursuant to resolutions of its Board of Directors, has
                         duly resolved and determined to make, execute and
                         deliver to the Trustee a supplemental indenture in the
                         form hereof for the purposes herein provided; and

                         WHEREAS, all conditions and requirements necessary to
                         make this Supplemental Indenture a valid and legally
                         binding instrument in accordance with its terms have
                         been done, performed and fulfilled, and the execution
                         and delivery hereof have been in all respects duly
                         authorized;
</TABLE>

                                       10

<PAGE>

<TABLE>
<S>                      <C>
CONSIDERATION FOR        NOW, THEREFORE, THIS INDENTURE WITNESSETH: That The
SUPPLEMENTAL             Detroit Edison Company, in consideration of the
INDENTURE.               premises and of the covenants contained in the
                         Indenture and of the sum of One Dollar ($1.00) and
                         other good and valuable consideration to it duly paid
                         by the Trustee at or before the ensealing and delivery
                         of these presents, the receipt whereof is hereby
                         acknowledged, hereby covenants and agrees to and with
                         the Trustee and its successors in the trusts under the
                         Original Indenture and in said indentures supplemental
                         thereto as follows:

                                     PART I.

                         CREATION OF
                                SERIES OF BONDS,
                      GENERAL AND REFUNDING MORTGAGE BONDS,
                                        SERIES

TERMS OF BONDS OF        SECTION 1. The Company hereby creates the       series
      SERIES    .        of bonds to be issued under and secured by the Original
                         Indenture as amended to date and as further amended by
                         this Supplemental Indenture, to be designated, and to
                         be distinguished from the bonds of all other series, by
                         the title "General and Refunding Mortgage Bonds,
                              Series   " (elsewhere herein referred to as the
                         "bonds of       Series   "). The aggregate principal
                         amount of bonds of         Series    shall be limited
                         to            million dollars ($          ), except as
                         provided in Sections 7 and 13 of Article II of the
                         Original Indenture with respect to exchanges and
                         replacements of bonds[, and except further that the
                         Company may, without the consent of any holder of the
                         bonds of       Series   , "reopen" the bonds of
                               Series    so as to increase the aggregate
                         principal amount outstanding to equal the aggregate
                         principal amount of Notes (as defined below)
                         outstanding upon a "reopening" of the series, so long
                         as any additional bonds of       Series    have the
                         same tenor and terms as the bonds of       Series
                         established hereby].

                         [Subject to the release provisions set forth below,
                         each bond of      Series    is to be irrevocably
                         assigned to, and registered in the name of, J.P. Morgan
                         Trust Company, National Association, as trustee, or a
                         successor trustee (said trustee or any successor
                         trustee being hereinafter referred to as the "Note
                         Indenture Trustee"), under the collateral trust
                         indenture, dated as of June 30, 1993, as supplemented
                         (the "Note Indenture"), between the Note Indenture
                         Trustee and the Company, to secure payment of the
                         Company's       Series    % Senior Notes due      (for
                         purposes of this Part I, the "Notes").]

                         The bonds of       Series     shall be issued as
                         registered bonds without coupons in denominations of a
                         multiple of $1,000. The bonds of       Series     shall
                         be issued in the aggregate principal amount of
                         $          , shall mature on            (subject to
                         earlier redemption or release) and shall bear interest
                         at the rate of    % per annum, payable semi-annually in
                         arrears on       and       of each year (commencing
                                   ), until the principal thereof shall have
                         become due and payable and thereafter until the
                         Company's obligation with respect to the payment of
                         said principal shall have been discharged as provided
                         in the Indenture.
</TABLE>

                                       11

<PAGE>

<TABLE>
<S>                      <C>
                         The bonds of       Series     shall be payable as to
                         principal, premium, if any, and interest as provided in
                         the Indenture, but only to the extent and in the manner
                         herein provided. The bonds of       Series     shall be
                         payable, as to principal, premium, if any, and
                         interest, at the office or agency of the Company in the
                         Borough of Manhattan, the City and State of New York,
                         in any coin or currency of the United States of America
                         which at the time of payment is legal tender for public
                         and private debts.

                         Except as provided herein, each bond of       Series
                             shall be dated the date of its authentication and
                         interest shall be payable on the principal represented
                         thereby from the            or            next
                         preceding the date thereof to which interest has been
                         paid on bonds of       Series    , unless the bond is
                         authenticated on a date to which interest has been
                         paid, in which case interest shall be payable from the
                         date of authentication, or unless the date of
                         authentication is prior to           in which case
                         interest shall be payable from           .

                         The bonds of       Series     in definitive form shall
                         be, at the election of the Company, fully engraved or
                         shall be lithographed or printed in authorized
                         denominations as aforesaid and numbered R-1 and upwards
                         (with such further designation as may be appropriate
                         and desirable to indicate by such designation the form,
                         series and denomination of bonds of       Series    ).
                         Until bonds of       Series     in definitive form are
                         ready for delivery, the Company may execute, and upon
                         its request in writing the Trustee shall authenticate
                         and deliver in lieu thereof, bonds of       Series
                         in temporary form, as provided in Section 10 of Article
                         II of the Indenture. Temporary bonds of      Series   ,
                         if any, may be printed and may be issued in authorized
                         denominations in substantially the form of definitive
                         bonds of       Series    , but without a recital of
                         redemption prices and with such omissions, insertions
                         and variations as may be appropriate for temporary
                         bonds, all as may be determined by the Company.

                         Interest on any bond of       Series     that is
                         payable on any interest payment date and is punctually
                         paid or duly provided for shall be paid to the person
                         in whose name that bond, or any previous bond to the
                         extent evidencing the same debt as that evidenced by
                         that bond, is registered at the close of business on
                         the regular record date for such interest, which
                         regular record date shall be the fifteenth calendar day
                         (whether or not a business day) next preceding such
                         interest payment date. If the Company shall default in
                         the payment of the interest due on any interest payment
                         date on the principal represented by any bond of
                                Series    , such defaulted interest shall
                         forthwith cease to be payable to the registered holder
                         of that bond on the relevant regular record date by
                         virtue of his having been such holder, and such
                         defaulted interest may be paid to the registered holder
                         of that bond (or any bond or bonds of       Series
                         issued upon transfer or exchange thereof) on the date
                         of payment of such defaulted interest or, at the
                         election of the Company, to the person in whose name
                         that bond (or any bond or bonds of       Series
                         issued upon transfer or exchange thereof) is registered
                         on a subsequent record date established by notice given
                         by mail by or on behalf of the Company to the holders
                         of bonds of       Series     not less than ten (10)
                         days preceding such subsequent record date, which
                         subsequent record date shall be at least five (5) days
                         prior to the payment date of such defaulted interest.
</TABLE>

                                       12

<PAGE>

<TABLE>
<S>                      <C>
                         [Bonds of       Series     shall not be assignable or
                         transferable except as may be set forth under Section
                         405 of the Note Indenture or in the supplemental note
                         indenture relating to the Notes, or, subject to
                         compliance with applicable law, as may be involved in
                         the course of the exercise of rights and remedies
                         consequent upon an Event of Default under the Note
                         Indenture. Any such transfer shall be made upon
                         surrender thereof for cancellation at the office or
                         agency of the Company in the Borough of Manhattan, the
                         City and State of New York, together with a written
                         instrument of transfer (if so required by the Company
                         or by the Trustee) in form approved by the Company duly
                         executed by the holder or by its duly authorized
                         attorney. Bonds of       Series     shall in the same
                         manner be exchangeable for a like aggregate principal
                         amount of bonds of       Series     upon the terms and
                         conditions specified herein and in Section 7 of Article
                         II of the Indenture. The Company waives its rights
                         under Section 7 of Article II of the Indenture not to
                         make exchanges or transfers of bonds of       Series
                             during any period of ten (10) days next preceding
                         any redemption date for such bonds.

                         Bonds of       Series    , in definitive and temporary
                         form, may bear such legends as may be necessary to
                         comply with any law or with any rules or regulations
                         made pursuant thereto or as may be specified in the
                         Note Indenture.

                         Upon payment of the principal or premium, if any, or
                         interest on the Notes, whether at maturity or prior to
                         maturity by redemption or otherwise, or upon provision
                         for the payment thereof having been made in accordance
                         with Article V of the Note Indenture, bonds of
                         Series     in a principal amount equal to the principal
                         amount of such Notes, shall, to the extent of such
                         payment of principal, premium or interest, be deemed
                         fully paid and the obligation of the Company thereunder
                         to make such payment shall forthwith cease and be
                         discharged, and, in the case of the payment of
                         principal and premium, if any, such bonds shall be
                         surrendered for cancellation or presented for
                         appropriate notation to the Trustee.]

                         [At the option of the registered holder, any bonds of
                               Series    , upon surrender thereof for
                         cancellation at the office or agency of the Company in
                         the Borough of Manhattan, the City of New York, the
                         State of New York, together with a written instrument
                         of transfer (if so required by the Company or by the
                         Trustee) in form approved by the Company duly executed
                         by the holder or by its duly authorized attorney, shall
                         be exchangeable for a like aggregate principal amount
                         of bonds of       Series     of other authorized
                         denominations, upon the terms and conditions specified
                         herein and in Section 7 of Article II of the Indenture.
                         Bonds of       Series     shall be transferable at the
                         office or agency of the Company in the Borough of
                         Manhattan, the City of New York, the State of New York.
                         The Company waives its rights under Section 7 of
                         Article II of the Indenture not to make exchanges or
                         transfers of bonds of       Series     during any
                         period of ten (10) days next preceding any interest
                         payment date for such bonds.

                         Bonds of       Series    , in definitive and temporary
                         form, may bear such legends as may be necessary to
                         comply with any law or with any rules or regulations
                         made pursuant thereto or with the rules or regulations
                         of any stock exchange or to conform to usage with
                         respect thereto.]
</TABLE>

                                       13

<PAGE>

<TABLE>
<S>                      <C>
[RELEASE.]               [SECTION 2. From and after the Release Date (as defined
                         in the Note Indenture), the bonds of       Series
                         shall be deemed fully paid, satisfied and discharged
                         and the obligation of the Company thereunder shall be
                         terminated. On the Release Date, the bonds of
                         Series     shall be surrendered to and canceled by the
                         Trustee. The Company covenants and agrees that, prior
                         to the Release Date, it will not take any action that
                         would cause the outstanding principal amount of the
                         bonds of       Series     to be less than the then
                         outstanding principal amount of the Notes.]

REDEMPTION OF BONDS OF   SECTION 3. [Bonds of       Series     shall be redeemed
       SERIES    .       on the respective dates and in the respective principal
                         amounts which correspond to the redemption dates for,
                         and the principal amounts to be redeemed of, the Notes.

                         In the event the Company elects to redeem any Notes
                         prior to maturity in accordance with the provisions of
                         the Note Indenture, the Company shall give the Trustee
                         notice of redemption of bonds of       Series     on
                         the same date as it gives notice of redemption of Notes
                         to the Note Indenture Trustee.]

                         [The bonds of       Series     shall be redeemable
                         prior to stated maturity, at the election of the
                         Company on any date prior to maturity, as a whole, or
                         in part from time to time, by lot, at the following
                         redemption prices (expressed as percentages of the
                         principal amount thereof) plus in each case accrued
                         interest to the date fixed for redemption:

                           If Redeemed                      If Redeemed
                         During 12 Month    Redemption    During 12 Month    Redemption
                          Period Ending        Price       Period Ending        Price
                         ----------------   -----------   ----------------   -----------

                         provided, however, that prior to            no bonds of
                               Series     may be redeemed, directly or
                         indirectly, from or in anticipation of the proceeds of
                         any refunding operation involving borrowing, at an
                         interest cost to the Company, computed in accordance
                         with generally accepted financial practice, of less
                         than      % per annum.

                         The bonds of       Series     shall be redeemable as
                         aforesaid and except as otherwise provided herein, and
                         as specified in Article IV of the Indenture upon giving
                         notice of such redemption by first class mail, postage
                         prepaid, by or on behalf of the Company at least thirty
                         (30) days, but not more than ninety (90) days, prior to
                         the date fixed for redemption to the registered holders
                         of bonds of       Series     so called for redemption
                         at their last respective addresses appearing on the
                         register thereof, but failure to mail such notice to
                         the registered holders of any bonds of       Series
                         designated for redemption shall not affect the validity
                         of any such redemption of any other bonds of such
                         series. Interest shall cease to accrue on any bonds of
                               Series     (or any portion thereof) so called for
                         redemption from and after the date fixed for redemption
                         if payment sufficient to redeem the bonds of
                         Series     (or such portion) designated for redemption
                         has been duly provided for. Bonds of       Series
                         redeemed in part only shall be in amounts of $1,000 or
                         any multiple thereof.
</TABLE>

                                       14

<PAGE>

<TABLE>
<S>                      <C>
                         If the giving of the notice of redemption shall have
                         been completed, or if provision satisfactory to the
                         Trustee for the giving of such notice shall have been
                         made, and if the Company shall have deposited with the
                         Trustee in trust funds (which shall have become
                         available for payment to the holders of the bonds of
                               Series     so to be redeemed) sufficient to
                         redeem bonds of       Series     in whole or in part,
                         on the date fixed for redemption, then all obligations
                         of the Company in respect of such bonds (or portions
                         thereof) so to be redeemed and interest due or to
                         become due thereon shall cease and be discharged and
                         the holders of such bonds of       Series     (or
                         portions thereof) shall thereafter be restricted
                         exclusively to such funds for any and all claims of
                         whatsoever nature on their part under the Indenture or
                         in respect of such bonds (or portions thereof) and
                         interest.

                         The bonds of       Series     [shall] [not] be entitled
                         to or subject to any sinking fund.]

[REDEMPTION OF BONDS     [SECTION 4. In the event of an Event of Default under
OF      SERIES    IN     the Note Indenture and the acceleration of all Notes,
EVENT OF ACCELERATION    the bonds of        Series     shall be redeemable in
OF NOTES.]               whole upon receipt by the Trustee of a written demand
                         (hereinafter called a "Redemption Demand") from the
                         Note Indenture Trustee stating that there has occurred
                         under the Note Indenture both an Event of Default and a
                         declaration of acceleration of payment of principal,
                         accrued interest and premium, if any, on the Notes,
                         specifying the last date to which interest on the Notes
                         has been paid (such date being hereinafter referred to
                         as the "Initial Interest Accrual Date") and demanding
                         redemption of the bonds of said series. The Trustee
                         shall, within five (5) days after receiving such
                         Redemption Demand, mail a copy thereof to the Company
                         marked to indicate the date of its receipt by the
                         Trustee. Promptly upon receipt by the Company of such
                         copy of a Redemption Demand, the Company shall fix a
                         date on which it will redeem the bonds of said series
                         so demanded to be redeemed (hereinafter called the
                         "Demand Redemption Date"). Notice of the date fixed as
                         the Demand Redemption Date shall be mailed by the
                         Company to the Trustee at least ten (10) days prior to
                         such Demand Redemption Date. The date to be fixed by
                         the Company as and for the Demand Redemption Date may
                         be any date up to and including the earlier of (x) the
                         60th day after receipt by the Trustee of the Redemption
                         Demand or (y) the maturity date of such bonds first
                         occurring following the 20th day after the receipt by
                         the Trustee of the Redemption Demand; provided,
                         however, that if the Trustee shall not have received
                         such notice fixing the Demand Redemption Date on or
                         before the 10th day preceding the earlier of such
                         dates, the Demand Redemption Date shall be deemed to be
                         the earlier of such dates. The Trustee shall mail
                         notice of the Demand Redemption Date (such notice being
                         hereinafter called the "Demand Redemption Notice") to
                         the Note Indenture Trustee not more than ten (10) nor
                         less than five (5) days prior to the Demand Redemption
                         Date.

                         Each bond of       Series     shall be redeemed by the
                         Company on the Demand Redemption Date therefor upon
                         surrender thereof by the Note Indenture Trustee to the
                         Trustee at a redemption price equal to the principal
                         amount thereof plus accrued interest thereon at the
                         rate specified for such bond from the Initial Interest
                         Accrual Date to the Demand Redemption Date plus an
                         amount equal to the aggregate premium, if any, due and
                         payable on such Demand Redemption Date on all Notes;
                         provided, however, that in the event of a receipt by
                         the Trustee of a notice that, pursuant to Section 602
                         of the Note
</TABLE>

                                       15

<PAGE>

<TABLE>
<S>                      <C>
                         Indenture, the Note Indenture Trustee has terminated
                         proceedings to enforce any right under the Note
                         Indenture, then any Redemption Demand shall thereby be
                         rescinded by the Note Indenture Trustee, and no Demand
                         Redemption Notice shall be given, or, if already given,
                         shall be automatically annulled; but no such rescission
                         or annulment shall extend to or affect any subsequent
                         default or impair any right consequent thereon.

                         Anything herein contained to the contrary
                         notwithstanding, the Trustee is not authorized to take
                         any action pursuant to a Redemption Demand and such
                         Redemption Demand shall be of no force or effect,
                         unless it is executed in the name of the Note Indenture
                         Trustee by its President or one of its Vice
                         Presidents.]

[CONSENT.]               [SECTION 4. The holders of bonds of       Series
                         consent that the Company may, but shall not be
                         obligated to, fix a record date for the purpose of
                         determining the holders of bonds of       Series
                         entitled to consent to any amendment, supplement or
                         waiver. If a record date is fixed, those persons who
                         were holders at such record date (or their duly
                         designated proxies), and only those persons, shall be
                         entitled to consent to such amendment, supplement or
                         waiver or to revoke any consent previously given,
                         whether or not such persons continue to be holders
                         after such record date. No such consent shall be valid
                         or effective for more than 90 days after such record
                         date.]

FORM OF BONDS OF         SECTION 5. The bonds of      Series     (including the
      SERIES    .        reverse thereof) and the form of Trustee's Certificate
                         to be endorsed on such bonds shall be substantially in
                         the following forms, respectively:

                                      THE DETROIT EDISON COMPANY
                                  GENERAL AND REFUNDING MORTGAGE BOND
                                                  SERIES

                         [Notwithstanding any provisions hereof or in the
                         Indenture, this bond is not assignable or transferable
                         except as may be required to effect a transfer to any
                         successor trustee under the Collateral Trust Indenture,
                         dated as of June 30, 1993, as amended, and as further
                         supplemented as of          , between The Detroit
                         Edison Company and J.P. Morgan Trust Company, National
                         Association, as Note Indenture Trustee, or, subject to
                         compliance with applicable law, as may be involved in
                         the course of the exercise of rights and remedies
                         consequent upon an Event of Default under said
                         Indenture.]

                         $___________                                 No. R-____

                         THE DETROIT EDISON COMPANY (hereinafter called the
                         "Company"), a corporation of the State of Michigan, for
                         value received, hereby promises to pay to [J.P. Morgan
                         Trust Company, National Association, as Note Indenture
                         Trustee] [__________], or registered assigns, at the
                         Company's office or agency in the Borough of Manhattan,
                         the City and State of New York, the principal sum of
                         __________ Dollars ($__________) in lawful money of the
                         United States of America on            (subject to
                         earlier redemption or release) and interest thereon at
                         the rate of    % per annum, in like lawful money, from
                                   , and after the first payment of interest on
                         bonds of this Series has been made or otherwise
                         provided for, from
</TABLE>

                                       16
<PAGE>

<TABLE>
<S>                      <C>
                         the most recent date to which interest has been paid or
                         otherwise provided for, semi-annually on           and
                                   of each year (commencing          ), until
                         the Company's obligation with respect to payment of
                         said principal shall have been discharged, all as
                         provided, to the extent and in the manner specified in
                         the Indenture hereinafter mentioned and in the
                         supplemental indenture pursuant to which this bond has
                         been issued.

                         [Under a Collateral Trust Indenture, dated as of June
                         30, 1993, as amended and as further supplemented as of
                                   (hereinafter called the "Note Indenture"),
                         between the Company and J.P. Morgan Trust Company,
                         National Association, as successor trustee (hereinafter
                         called the "Note Indenture Trustee"), the Company has
                         issued its        Series   % Senior Notes due
                         (the "Notes"). This bond was originally issued to the
                         Note Indenture Trustee so as to secure the payment of
                         the Notes. Payments of principal of, or premium, if
                         any, or interest on, the Notes shall constitute like
                         payments on this bond as further provided herein and in
                         the supplemental indenture pursuant to which this bond
                         has been issued.]

                         [Unless and until this bond is exchanged in whole or in
                         part for certificated bonds registered in the names of
                         the various beneficial holders hereof as then certified
                         to the Trustee by The Depository Trust Company or its
                         successor (the "Depositary"), this bond may not be
                         transferred except as a whole by the Depositary to a
                         nominee of the Depositary or by a nominee of the
                         Depositary to the Depositary or another nominee of the
                         Depositary or by the Depositary or any such nominee to
                         a successor Depositary or a nominee of such successor
                         Depositary. Unless this certificate is presented by an
                         authorized representative of the Depositary to the
                         issuer or its agent for registration of transfer,
                         exchange or payment, and any certificate to be issued
                         is registered in the name of Cede & Co. or such other
                         name as requested by an authorized representative of
                         the Depositary and any amount payable thereunder is
                         made payable to Cede & Co. or such other name, 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.

                         This bond may be exchanged for certificated bonds
                         registered in the names of the various beneficial
                         owners hereof only if (a) the Depositary is at any time
                         unwilling or unable to continue as depositary and a
                         successor depositary is not appointed by the issuer
                         within 90 days, or (b) the issuer, the Trustee and the
                         Depositary consent to such exchange.]

                         Reference is hereby made to such further provisions of
                         this bond set forth on the reverse hereof and such
                         provisions shall for all purposes have the same effect
                         as though set forth in this place.

                         This bond shall not be valid or become obligatory for
                         any purpose until J.P. Morgan Trust Company, National
                         Association, the Trustee under the Indenture, or its
                         successor thereunder, shall have signed the form of
                         certificate endorsed hereon.

                         IN WITNESS WHEREOF, THE DETROIT EDISON COMPANY has
                         caused this instrument to be executed by an authorized
                         officer, with his or her manual or facsimile
                         signatures, and its corporate seal, or a facsimile
                         thereof, to be impressed or imprinted hereon and the
                         same to be attested by its Corporate
</TABLE>

                                       17

<PAGE>

<TABLE>
<S>                      <C>
                         Secretary or Assistant Corporate Secretary by manual or
                         facsimile signature.

                         Dated:

                                                    THE DETROIT EDISON COMPANY

                                                    By: ________________________
                                                    Name:
                                                    Title:

                         [Corporate Seal]

                         Attest:

                         By: ______________________
                         Name:
                         Title:

                                     [FORM OF TRUSTEE'S CERTIFICATE]

FORM OF TRUSTEE'S        This bond is one of the bonds, of the series designated
CERTIFICATE.             therein, described in the within-mentioned Indenture.

                                                    J.P. MORGAN TRUST COMPANY,
                                                    NATIONAL ASSOCIATION, as
                                                    Trustee

                                                    By: ________________________
                                                        Authorized Officer

                                        [FORM OF REVERSE OF BOND]

FORM OF REVERSE OF       This bond is one of an authorized issue of bonds of the
BOND                     Company, unlimited as to amount except as provided in
                         the Indenture hereinafter mentioned or any indentures
                         supplemental thereto, and is one of a series of General
                         and Refunding Mortgage Bonds known as        Series   ,
                         limited to an aggregate principal amount of $     ,
                         except as otherwise provided in the Indenture
                         hereinafter mentioned. This bond and all other bonds of
                         said series are issued and to be issued under, and are
                         all equally and ratably secured (except insofar as any
                         sinking, amortization, improvement or analogous fund,
                         established in accordance with the provisions of the
                         Indenture hereinafter mentioned, may afford additional
                         security for the bonds of any particular series and
                         except as provided in Section 3 of Article VI of said
                         Indenture) by an Indenture, dated as of October 1,
                         1924, duly executed by the Company to J.P. Morgan Trust
                         Company, National Association, as successor Trustee, to
                         which Indenture and all indentures supplemental thereto
                         (including the Supplemental Indenture dated as of
                                     ) reference is hereby made for a
                         description of the properties and franchises mortgaged
                         and conveyed, the nature and extent of the security,
                         the terms and conditions upon which the bonds are
                         issued and under which additional bonds may be issued,
                         and the rights of the holders of the bonds and of the
                         Trustee in respect of such security (which Indenture
                         and all indentures supplemental thereto, including the
</TABLE>

                                       18

<PAGE>

<TABLE>
<S>                      <C>
                         Supplemental Indenture dated as of               , are
                         hereinafter collectively called the "Indenture"). As
                         provided in the Indenture, said bonds may be for
                         various principal sums and are issuable in series,
                         which may mature at different times, may bear interest
                         at different rates and may otherwise vary as in said
                         Indenture provided. 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, or of any indenture
                         supplemental thereto, may be modified or altered in
                         certain respects by affirmative vote of at least
                         eighty-five percent (85%) in amount of the bonds then
                         outstanding, and, if the rights of one or more, but
                         less than all, series of bonds then outstanding are to
                         be affected by the action proposed to be taken, then
                         also by affirmative vote of at least eighty-five
                         percent (85%) in amount of the series of bonds so to be
                         affected (excluding in every instance bonds
                         disqualified from voting by reason of the Company's
                         interest therein as specified in the Indenture);
                         provided, however, that, without the consent of the
                         holder hereof, no such modification or alteration
                         shall, among other things, affect the terms of payment
                         of the principal of or the interest on this bond, which
                         in those respects is unconditional.

                         [The holder of this bond of         Series
                         hereby consents that the Company may, but shall not be
                         obligated to, fix a record date for the purpose of
                         determining the holders of bonds of this series
                         entitled to consent to any amendment, supplement or
                         waiver. If a record date is fixed, those persons who
                         were holders at such record date (or their duly
                         designated proxies), and only those persons, shall be
                         entitled to consent to such amendment, supplement or
                         waiver or to revoke any consent previously given,
                         whether or not such persons continue to be holders
                         after such record date. No such consent shall be valid
                         or effective for more than 90 days after such record
                         date.]

                         [This bond is redeemable prior to the Release Date upon
                         the terms and conditions set forth in the Indenture,
                         including provision for redemption upon demand of the
                         Note Indenture Trustee following the occurrence of an
                         Event of Default under the Note Indenture and the
                         acceleration of the principal of the Notes.]

                         [This bond is redeemable on giving notice of such
                         redemption by first class mail, postage prepaid, by or
                         on behalf of the Company at least thirty (30) days, but
                         not more than ninety (90) days, prior to the date fixed
                         for redemption to the registered holder of this bond at
                         his last address appearing on the register thereof, in
                         the manner and upon the terms provided in the
                         Indenture, at the election of the Company on any date
                         as a whole or in part by lot, from time to time, at the
                         following redemption prices (expressed as percentages
                         of the principal amount hereof) plus in each case
                         accrued interest to the date fixed for redemption:

                           If Redeemed                    If Redeemed
                         During 12 Month   Redemption   During 12 Month   Redemption
                          Period Ending       Price      Period Ending       Price
                         ---------------   ----------   ---------------   ----------

                         provided, however, that prior to       , no bonds of
                                  Series
</TABLE>

                                       19

<PAGE>

<TABLE>
<S>                      <C>
                         may be redeemed, directly or indirectly, from the
                         proceeds or in anticipation of any refunding operation
                         involving borrowing at an interest cost to the Company,
                         computed in accordance with generally accepted
                         financial practice, of less than    % per annum.]

                         Under the Indenture, funds may be deposited with the
                         Trustee (which shall have become available for
                         payment), in advance of the redemption date of any of
                         the bonds of         Series         (or portions
                         thereof), in trust for the redemption of such bonds (or
                         portions thereof) and the interest due or to become due
                         thereon, and thereupon all obligations of the Company
                         in respect of such bonds (or portions thereof) so to be
                         redeemed and such interest shall cease and be
                         discharged, and the holders thereof shall thereafter be
                         restricted exclusively to such funds for any and all
                         claims of whatsoever nature on their part under the
                         Indenture or with respect to such bonds (or portions
                         thereof) and interest.

                         In case an event of default, as defined in the
                         Indenture, shall occur, the principal of all the bonds
                         issued thereunder may become or be declared due and
                         payable, in the manner, with the effect and subject to
                         the conditions provided in the Indenture.

                         [Upon payment of the principal of, or premium, if any,
                         or interest on, the Notes, whether at maturity or prior
                         to maturity by redemption or otherwise or upon
                         provision for the payment thereof having been made in
                         accordance with Article V of the Note Indenture, bonds
                         of          Series          in a principal amount equal
                         to the principal amount of such Notes, and having both
                         a corresponding maturity date and interest rate shall,
                         to the extent of such payment of principal, premium or
                         interest, be deemed fully paid and the obligation of
                         the Company thereunder to make such payment shall
                         forthwith cease and be discharged, and, in the case of
                         the payment of principal and premium, if any, such
                         bonds of said series shall be surrendered for
                         cancellation or presented for appropriate notation to
                         the Trustee.]

                         [This bond is not assignable or transferable except as
                         set forth under Section 405 of the Note Indenture or in
                         the supplemental indenture relating to the Notes, or,
                         subject to compliance with applicable law, as may be
                         involved in the course of the exercise of rights and
                         remedies consequent upon an Event of Default under the
                         Note Indenture. Any such transfer shall be made by the
                         registered holder hereof, in person or by his attorney
                         duly authorized in writing, on the books of the Company
                         kept at its office or agency in the Borough of
                         Manhattan, the City and State of New York, upon
                         surrender and cancellation of this bond, and thereupon,
                         a new registered bond of the same series of authorized
                         denominations for a like aggregate principal amount
                         will be issued to the transferee in exchange therefor,
                         and this bond with others in like form may in like
                         manner be exchanged for one or more new bonds of the
                         same series of other authorized denominations, but of
                         the same aggregate principal amount, all as provided
                         and upon the terms and conditions set forth in the
                         Indenture, and upon payment, in any event, of the
                         charges prescribed in the Indenture.]

                         [This bond is transferable by the registered holder
                         hereof, in person or by his attorney duly authorized in
                         writing, on the books of the Company kept at its office
                         or agency in the Borough of Manhattan, the City and
                         State of New York, upon surrender and cancellation of
                         this bond, and, thereupon, a new
</TABLE>

                                       20

<PAGE>

<TABLE>
<S>                      <C>
                         registered bond or bonds of the same series of
                         authorized denominations for a like aggregate principal
                         amount will be issued to the transferee or transferees
                         in exchange herefor, and this bond with others of like
                         form may in like manner be exchanged for one or more
                         new registered bonds of the same series of other
                         authorized denominations, but of the same aggregate
                         principal amount, all as provided and upon the terms
                         and conditions set forth in the Indenture, and upon
                         payment, in any event, of the charges prescribed in the
                         Indenture.]

                         [From and after the Release Date (as defined in the
                         Note Indenture), the bonds of          Series
                         shall be deemed fully paid, satisfied and discharged
                         and the obligation of the Company thereunder shall be
                         terminated. On the Release Date, the bonds of
                         Series     shall be surrendered to and cancelled by the
                         Trustee. The Company covenants and agrees that, prior
                         to the Release Date, it will not take any action that
                         would cause the outstanding principal amount of the
                         bonds of          Series          to be less than the
                         then outstanding principal amount of the Notes.]

                         No recourse shall be had for the payment of the
                         principal of or the interest on this bond, or for any
                         claim based hereon or otherwise in respect hereof or of
                         the Indenture, or of any indenture supplemental
                         thereto, against any incorporator, or against any past,
                         present or future stockholder, director or officer, as
                         such, of the Company, or of any predecessor or
                         successor corporation, either directly or through the
                         Company or any such predecessor or successor
                         corporation, whether for amounts unpaid on stock
                         subscriptions or by virtue of any constitution, statute
                         or rule of law, or by the enforcement of any assessment
                         or penalty or otherwise howsoever; all such liability
                         being, by the acceptance hereof and as part of the
                         consideration for the issue hereof, expressly waived
                         and released by every holder or owner hereof, as more
                         fully provided in the Indenture.

                                                 PART II.

                                        RECORDING AND FILING DATA

RECORDING AND FILING     The Original Indenture and indentures supplemental
OF ORIGINAL INDENTURE.   thereto have been recorded and/or filed and
                         Certificates of Provision for Payment have been
                         recorded as hereinafter set forth.

                         The Original Indenture has been recorded as a real
                         estate mortgage and filed as a chattel Mortgage in the
                         offices of the respective Registers of Deeds of certain
                         counties in the State of Michigan as set forth in the
                         Supplemental Indenture dated as of September 1, 1947,
                         has been recorded as a real estate mortgage in the
                         office of the Register of Deeds of Genesee County,
                         Michigan as set forth in the Supplemental Indenture
                         dated as of May 1, 1974, has been filed in the Office
                         of the Secretary of State of Michigan on November 16,
                         1951 and has been filed and recorded in the office of
                         the Interstate Commerce Commission on December 8, 1969.

RECORDING AND FILING     Pursuant to the terms and provisions of the Original
OF SUPPLEMENTAL          Indenture, indentures supplemental thereto heretofore
INDENTURES.              entered into have been Recorded as a real estate
                         mortgage and/or filed as a chattel mortgage or as a
                         financing statement in the offices of the respective
                         Registers of Deeds of certain counties in the State of
                         Michigan, the Office of the Secretary of State of
                         Michigan and the
</TABLE>

                                       21
<PAGE>

                         Office of the Interstate Commerce Commission or the
                         Surface Transportation Board, as set forth in
                         supplemental indentures as follows:

<TABLE>
<CAPTION>
                                                                            RECORDED AND/OR
                                                                          FILED AS SET FORTH
                                                                            IN SUPPLEMENTAL
   SUPPLEMENTAL INDENTURE                                                      INDENTURE
         DATED AS OF               PURPOSE OF SUPPLEMENTAL INDENTURE          DATED AS OF
----------------------------   ----------------------------------------   ------------------
<S>                            <C>                                        <C>
June 1, 1925(a)(b)..........   Series B Bonds                             February 1, 1940
August 1, 1927(a)(b)........   Series C Bonds                             February 1, 1940
February 1, 1931(a)(b)......   Series D Bonds                             February 1, 1940
June 1, 1931(a)(b)..........   Subject Properties                         February 1, 1940
October 1, 1932(a)(b).......   Series E Bonds                             February 1, 1940
September 25, 1935(a)(b)....   Series F Bonds                             February 1, 1940
September 1, 1936(a)(b).....   Series G Bonds                             February 1, 1940
November 1, 1936(a)(b)......   Subject Properties                         February 1, 1940
February 1, 1940(a)(b)......   Subject Properties                         September 1, 1947
December 1, 1940(a)(b)......   Series H Bonds and Additional Provisions   September 1, 1947
September 1, 1947(a)(b)(c)..   Series I Bonds, Subject Properties and     November 15, 1951
                               Additional Provisions
March 1, 1950(a)(b)(c)......   Series J Bonds and Additional Provisions   November 15, 1951
November 15, 1951(a)(b)(c)..   Series K Bonds, Additional Provisions      January 15, 1953
                               and Subject Properties
January 15, 1953(a)(b)......   Series L Bonds                             May 1, 1953
May 1, 1953(a)..............   Series M Bonds and Subject Properties      March 15, 1954
March 15, 1954(a)(c)........   Series N Bonds and Subject Properties      May 15, 1955
May 15, 1955(a)(c)..........   Series O Bonds and Subject Properties      August 15, 1957
August 15, 1957(a)(c).......   Series P Bonds, Additional Provisions      June 1, 1959
                               and Subject Properties
June 1, 1959(a)(c)..........   Series Q Bonds and Subject Properties      December 1, 1966
December 1, 1966(a)(c)......   Series R Bonds, Additional Provisions      October 1, 1968
                               and Subject Properties
October 1, 1968(a)(c).......   Series S Bonds and Subject Properties      December 1, 1969
December 1, 1969(a)(c)......   Series T Bonds and Subject Properties      July 1, 1970
July 1, 1970(c).............   Series U Bonds and Subject Properties      December 15, 1970
December 15, 1970(c)........   Series V Bonds and Series W Bonds          June 15, 1971
June 15, 1971(c)............   Series X Bonds and Subject Properties      November 15, 1971
</TABLE>

                                       22

<PAGE>

<TABLE>
<CAPTION>
                                                                            RECORDED AND/OR
                                                                          FILED AS SET FORTH
                                                                            IN SUPPLEMENTAL
   SUPPLEMENTAL INDENTURE                                                      INDENTURE
         DATED AS OF               PURPOSE OF SUPPLEMENTAL INDENTURE          DATED AS OF
----------------------------   ----------------------------------------   ------------------
<S>                            <C>                                        <C>
November 15, 1971(c)........   Series Y Bonds and Subject Properties      January 15, 1973
January 15, 1973(c).........   Series Z Bonds and Subject Properties      May 1, 1974
May 1, 1974.................   Series AA Bonds and Subject Properties     October 1, 1974
October 1, 1974.............   Series BB Bonds and Subject Properties     January 15, 1975
January 15, 1975............   Series CC Bonds and Subject Properties     November 1, 1975
November 1, 1975............   Series DDP Nos. 1-9 Bonds and Subject      December 15, 1975
                               Properties
December 15, 1975...........   Series EE Bonds and Subject Properties     February 1, 1976
February 1, 1976............   Series FFR Nos. 1-13 Bonds                 June 15, 1976
June 15, 1976...............   Series GGP Nos. 1-7 Bonds and Subject      July 15, 1976
                               Properties
July 15, 1976...............   Series HH Bonds and Subject Properties     February 15, 1977
February 15, 1977...........   Series MMP Bonds and Subject Properties    March 1, 1977
March 1, 1977...............   Series IIP Nos. 1-7 Bonds, Series JJP      June 15, 1977
                               Nos. 1-7 Bonds, Series KKP Nos. 1-7
                               Bonds and Series LLP Nos. 1-7 Bonds
June 15, 1977...............   Series FFR No. 14 Bonds and Subject        July 1, 1977
                               Properties
July 1, 1977................   Series NNP Nos. 1-7 Bonds and Subject      October 1, 1977
                               Properties
October 1, 1977.............   Series GGP Nos. 8-22 Bonds and Series      June 1, 1978
                               OOP Nos. 1-17 Bonds and Subject
                               Properties
June 1, 1978................   Series PP Bonds, Series QQP Nos. 1-9       October 15, 1978
                               Bonds and Subject Properties
October 15, 1978............   Series RR Bonds and Subject Properties     March 15, 1979
March 15, 1979..............   Series SS Bonds and Subject Properties     July 1, 1979
July 1, 1979................   Series IIP Nos. 8-22 Bonds, Series NNP     September 1, 1979
                               Nos. 8-21 Bonds and Series TTP Nos.
                               1-15 Bonds and Subject Properties
</TABLE>

                                       23
<PAGE>

<TABLE>
<CAPTION>
                                                                            RECORDED AND/OR
                                                                          FILED AS SET FORTH
                                                                            IN SUPPLEMENTAL
   SUPPLEMENTAL INDENTURE                                                      INDENTURE
         DATED AS OF               PURPOSE OF SUPPLEMENTAL INDENTURE          DATED AS OF
----------------------------   ----------------------------------------   ------------------
<S>                            <C>                                        <C>
September 1, 1979...........   Series JJP No. 8 Bonds, Series KKP No.     September 15, 1979
                               8 Bonds, Series LLP Nos. 8-15 Bonds,
                               Series MMP No. 2 Bonds and Series OOP
                               No. 18 Bonds and Subject Properties
September 15, 1979..........   Series UU Bonds                            January 1, 1980
January 1, 1980.............   1980 Series A Bonds and Subject            April 1, 1980
                               Properties
April 1, 1980...............   1980 Series B Bonds                        August 15, 1980
August 15, 1980.............   Series QQP Nos. 10-19 Bonds, 1980          August 1, 1981
                               Series CP Nos. 1-12 Bonds and 1980
                               Series DP No. 1-11 Bonds and Subject
                               Properties
August 1, 1981..............   1980 Series CP Nos. 13-25 Bonds and        November 1, 1981
                               Subject Properties
November 1, 1981............   1981 Series AP Nos. 1-12 Bonds             June 30, 1982
June 30, 1982...............   Article XIV Reconfirmation                 August 15, 1982
August 15, 1982.............   1981 Series AP Nos. 13-14 Bonds and        June 1, 1983
                               Subject Properties
June 1, 1983................   1981 Series AP Nos. 15-16 Bonds and        October 1, 1984
                               Subject Properties
October 1, 1984.............   1984 Series AP Bonds and 1984 Series BP    May 1, 1985
                               Bonds and Subject Properties
May 1, 1985.................   1985 Series A Bonds                        May 15, 1985
May 15, 1985................   1985 Series B Bonds and Subject            October 15, 1985
                               Properties
October 15, 1985............   Series KKP No. 9 Bonds and Subject         April 1, 1986
                               Properties
April 1, 1986...............   1986 Series A Bonds and Subject            August 15, 1986
                               Properties
August 15, 1986.............   1986 Series B Bonds and Subject            November 30, 1986
                               Properties
November 30, 1986...........   1986 Series C Bonds                        January 31, 1987
January 31, 1987............   1987 Series A Bonds                        April 1, 1987
April 1, 1987...............   1987 Series B Bonds and 1987 Series C      August 15, 1987
                               Bonds
August 15, 1987.............   1987 Series D Bonds, 1987 Series E         November 30, 1987
                               Bonds and Subject Properties
November 30, 1987...........   1987 Series F Bonds                        June 15, 1989
June 15, 1989...............   1989 Series A Bonds                        July 15, 1989
July 15, 1989...............   Series KKP No. 10 Bonds                    December 1, 1989
December 1, 1989............   Series KKP No. 11 Bonds and 1989 Series    February 15, 1990
                               BP Bonds
</TABLE>

                                       24
<PAGE>

<TABLE>
<CAPTION>
                                                                            RECORDED AND/OR
                                                                          FILED AS SET FORTH
                                                                            IN SUPPLEMENTAL
   SUPPLEMENTAL INDENTURE                                                      INDENTURE
         DATED AS OF               PURPOSE OF SUPPLEMENTAL INDENTURE          DATED AS OF
----------------------------   ----------------------------------------   ------------------
<S>                            <C>                                        <C>
February 15, 1990...........   1990 Series A Bonds, 1990 Series B         November 1, 1990
                               Bonds, 1990 Series C Bonds, 1990 Series
                               D Bonds, 1990 Series E Bonds and 1990
                               Series F Bonds
November 1, 1990............   Series KKP No. 12 Bonds                    April 1, 1991
April 1, 1991...............   1991 Series AP Bonds                       May 1, 1991
May 1, 1991.................   1991 Series BP Bonds and 1991 Series CP    May 15, 1991
                               Bonds
May 15, 1991................   1991 Series DP Bonds                       September 1, 1991
September 1, 1991...........   1991 Series EP Bonds                       November 1, 1991
November 1, 1991............   1991 Series FP Bonds                       January 15, 1992
January 15, 1992............   1992 Series BP Bonds                       February 29, 1992
                                                                          and April 15, 1992
February 29, 1992...........   1992 Series AP Bonds                       April 15, 1992
April 15, 1992..............   Series KKP No. 13 Bonds                    July 15, 1992
July 15, 1992...............   1992 Series CP Bonds                       November 30, 1992
July 31, 1992...............   1992 Series D Bonds                        November 30, 1992
November 30, 1992...........   1992 Series E Bonds and 1993 Series B      March 15, 1993
                               Bonds
December 15, 1992...........   Series KKP No. 14 Bonds and 1989 Series    March 15, 1993
                               BP No. 2 Bonds
January 1, 1993.............   1993 Series C Bonds                        April 1, 1993
March 1, 1993...............   1993 Series E Bonds                        June 30, 1993
March 15, 1993..............   1993 Series D Bonds                        September 15, 1993
April 1, 1993...............   1993 Series FP Bonds and 1993 Series IP    September 15, 1993
                               Bonds
April 26, 1993..............   1993 Series G Bonds and Amendment of       September 15, 1993
                               Article II, Section 5
May 31, 1993................   1993 Series J Bonds                        September 15, 1993
June 30, 1993...............   1993 Series AP Bonds                                 (d)
June 30, 1993...............   1993 Series H Bonds                                  (d)
September 15, 1993..........   1993 Series K Bonds                        March 1, 1994
March 1, 1994...............   1994 Series AP Bonds                       June 15, 1994
June 15, 1994...............   1994 Series BP Bonds                       December 1, 1994
August 15, 1994.............   1994 Series C Bonds                        December 1, 1994
December 1, 1994............   Series KKP No. 15 Bonds and 1994 Series    August 1, 1995
                               DP Bonds
August 1, 1995..............   1995 Series AP Bonds and 1995 Series BP    August 1, 1999
                               Bonds
August 1, 1999..............   1999 Series AP Bonds, 1999 Series BP                 (d)
                               Bonds and 1999 Series CP Bonds
August 15, 1999.............   1999 Series D Bonds                                  (d)
January 1, 2000.............   2000 Series A Bonds                                  (d)
</TABLE>

                                       25
<PAGE>

<TABLE>
<CAPTION>
                                                                            RECORDED AND/OR
                                                                          FILED AS SET FORTH
                                                                            IN SUPPLEMENTAL
   SUPPLEMENTAL INDENTURE                                                      INDENTURE
         DATED AS OF               PURPOSE OF SUPPLEMENTAL INDENTURE          DATED AS OF
----------------------------   ----------------------------------------   ------------------
<S>                            <C>                                        <C>
April 15, 2000..............   Appointment of Successor Trustee                     (d)
August 1, 2000..............   2000 Series BP Bonds                                 (d)
March 15, 2001..............   2001 Series AP Bonds                                 (d)
May 1, 2001.................   2001 Series BP Bonds                                 (d)
August 15, 2001.............   2001 Series CP Bonds                                 (d)
September 15, 2001..........   2001 Series D Bonds and 2001 Series E                (d)
                               Bonds
September 17, 2002..........   Amendment of Article XIII, Section 3                 (d)
                               and Appointment of Successor Trustee
October 15, 2002............   2002 Series A Bonds and 2002 Series B                (d)
                               Bonds
December 1, 2002............   2002 Series C Bonds and 2002 Series D                (d)
                               Bonds
August 1, 2003..............   2003 Series A Bonds                                  (d)
March 15, 2004..............   2004 Series A Bonds and 2004 Series B                (d)
                               Bonds
July 1, 2004................   2004 Series D Bonds                                  (d)
February 1, 2005............   2005 Series A Bonds and 2005 Series B      May 15, 2006
                               Bonds
April 1, 2005...............   2005 Series AR Bonds and 2005 Series BR    May 15, 2006
                               Bonds
August 1, 2005..............   2005 Series DT Bonds                       May 15, 2006
September 15, 2005..........   2005 Series C Bonds                        May 15, 2006
September 30, 2005..........   2005 Series E Bonds                        May 15, 2006
May 15, 2006................   2006 Series A Bonds                                  (d)
</TABLE>

        (a)  See Supplemental Indenture dated as of July 1, 1970 for Interstate
             Commerce Commission filing and recordation information.

        (b)  See Supplemental Indenture dated as of May 1, 1953 for Secretary
             of State of Michigan filing information.

        (c)  See Supplemental Indenture dated as of May 1, 1974 for County of
             Genesee, Michigan recording and filing information.

        (d)  Recording and filing information for this Supplemental Indenture
             has not been set forth in a subsequent Supplemental Indenture.

<TABLE>
<S>                      <C>
RECORDING AND FILING     Further, pursuant to the terms and provisions of the
OF SUPPLEMENTAL          Original Indenture, a Supplemental Indenture dated as
INDENTURE DATED AS OF    of                  providing for the terms of bonds to
               .         be issued thereunder of       Series     has heretofore
                         been entered into between the Company and the Trustee
                         and has been filed in the Office of the Secretary of
                         State of Michigan as a financing statement on
                                          (Filing No.          ), has been filed
                         and recorded in the Office of the Surface
                         Transportation Board (Recordation No.          ) on
                                         , and has been recorded as a real
                         estate mortgage in the offices of the respective
                         Register of Deeds of certain counties in the State of
                         Michigan, as follows:
</TABLE>

                                       26

<PAGE>

<TABLE>
<CAPTION>
                                        LIBER/
COUNTY                   RECORDED   INSTRUMENT NO.   PAGE
------                   --------   --------------   ----
<S>                      <C>        <C>              <C>
Genesee...............
Huron.................
Ingham................
Lapeer................
Lenawee...............
Livingston............
Macomb................
Mason.................
Monroe................
Oakland...............
St. Clair.............
Sanilac...............
Tuscola...............
Washtenaw.............
Wayne.................
</TABLE>

<TABLE>
<S>                      <C>
RECORDING OF             All the bonds of Series A which were issued under the
CERTIFICATES OF          Original Indenture dated as of October 1, 1924, and of
PROVISION FOR PAYMENT.   Series B, Series C, Series D, Series E, Series F,
                         Series G, Series H, Series I, Series J, Series K,
                         Series L, Series M, Series N, Series O, Series P,
                         Series Q, Series R, Series S, Series T, Series U,
                         Series V, Series W, Series X, Series Y, Series Z,
                         Series AA, Series BB, Series CC, Series DDP Nos. 1-9,
                         Series EE, Series FFR Nos. 1-13, Series GGP Nos. 1-7,
                         Series HH, Series MMP, Series IP Nos. 1-7, Series JJP
                         Nos. 1-7, Series KKP Nos. 1-7, Series LLP Nos. 1-7,
                         Series FFR No. 14, Series NNP Nos. 1-7, Series GGP Nos.
                         8-22, Series OOP Nos. 1-17, Series PP, Series QQP Nos.
                         1-9, Series RR, Series SS, Series IIP Nos. 8-22, Series
                         NNP Nos. 8-21, Series TTP Nos. 1-15, Series JJP No. 8,
                         Series KKP No. 8, Series LLP Nos. 8-15, Series MMP No.
                         2, Series OOP No. 18, Series UU, 1980 Series A, 1980
                         Series B, Series QQP Nos. 10-19, 1980 Series CP Nos.
                         1-12, 1980 Series DP Nos. 1-11, 1980 Series CP Nos.
                         13-25, 1981 Series AP Nos. 1-12, 1981 Series AP Nos.
                         13-14, 1981 Series AP Nos. 15-16, 1984 Series AP, 1984
                         Series BP, 1985 Series A, 1985 Series B, Series KKP No.
                         9, 1986 Series A, 1986 Series B, 1986 Series C, 1987
                         Series A, 1987 Series B, 1987 Series C, 1987 Series D,
                         1987 Series E, 1987 Series F, 1989 Series A, Series KKP
                         No. 10, Series KKP No. 11, 1989 Series BP, 1990 Series
                         A, 1990 Series D, 1991 Series EP, 1991 Series FP, 1992
                         Series BP, Series KKP No. 13, 1992 Series CP, 1992
                         Series D, Series KKP No. 14, 1989 Series BP No. 2, 1993
                         Series B, 1993 Series C, 1993, 1993 Series H, 1993
                         Series E, 1993 Series D, 1993 Series FP, 1993 Series
                         IP, 1993 Series G, 1993 Series J, 1993 Series K, 1994
                         Series AP, 1994 Series BP, 1994 Series C, Series KKP
                         No. 15, 1994 Series DP, 1995 Series AP, 1995 Series BP,
                         1999 Series D, 2000 Series A, 2001 Series D, 2005
                         Series A, and 2005 Series B, which were issued under
                         Supplemental Indentures as described in the Recording
                         and Filing of Supplemental Indentures section above,
                         have matured or have been called for redemption and
                         funds sufficient for such payment or redemption have
                         been irrevocably deposited with the Trustee for that
                         purpose; and Certificates of Provision for Payment have
                         been recorded in the offices of the respective
                         Registers of Deeds of certain counties in the State of
                         Michigan, with respect to
</TABLE>

                                       27
<PAGE>

<TABLE>
<S>                      <C>
                         all bonds of Series A, B, C, D, E, F, G, H, K, L, M, O,
                         W, BB, CC, DDP Nos. 1 and 2, FFR Nos. 1-3, GGP Nos. 1
                         and 2, IIP No. 1, JJP No. 1, KKP No. 1, LLP No. 1 and
                         GGP No. 8.

                                    PART III.

                                  THE TRUSTEE.

TERMS AND CONDITIONS     The Trustee hereby accepts the trust hereby declared
OF ACCEPTANCE OF         and provided, and agrees to perform the same upon the
TRUST BY TRUSTEE.        terms and conditions in the Original Indenture, as
                         amended to date and as supplemented by this
                         Supplemental Indenture, and in this Supplemental
                         Indenture set forth, and upon the following terms and
                         conditions:

                         The Trustee shall not be responsible in any manner
                         whatsoever for and in respect of the validity or
                         sufficiency of this Supplemental Indenture or the due
                         execution hereof by the Company or for or in respect of
                         the recitals contained herein, all of which recitals
                         are made by the Company solely.

                                    PART IV.

                                 MISCELLANEOUS.

CONFIRMATION OF          Except to the extent specifically provided therein, no
SECTION 318(c) OF        provision of this Supplemental Indenture or any future
TRUST INDENTURE ACT.     supplemental indenture is intended to modify, and the
                         parties do hereby adopt and confirm, the provisions of
                         Section 318(c) of the Trust Indenture Act which amend
                         and supersede provisions of the Indenture in effect
                         prior to November 15, 1990.

EXECUTION IN             THIS SUPPLEMENTAL INDENTURE MAY BE SIMULTANEOUSLY
COUNTERPARTS.            EXECUTED IN ANY NUMBER OF COUNTERPARTS, EACH OF WHICH
                         WHEN SO EXECUTED SHALL BE DEEMED TO BE AN ORIGINAL; BUT
                         SUCH COUNTERPARTS SHALL TOGETHER CONSTITUTE BUT ONE AND
                         THE SAME INSTRUMENT.

TESTIMONIUM.             IN WITNESS WHEREOF, THE DETROIT EDISON COMPANY AND J.P.
                         MORGAN TRUST COMPANY, NATIONAL ASSOCIATION HAVE CAUSED
                         THESE PRESENTS TO BE SIGNED IN THEIR RESPECTIVE
                         CORPORATE NAMES BY THEIR RESPECTIVE CHAIRMEN OF THE
                         BOARD, PRESIDENTS, VICE PRESIDENTS, ASSISTANT VICE
                         PRESIDENTS, TREASURERS OR ASSISTANT TREASURERS AND
                         IMPRESSED WITH THEIR RESPECTIVE CORPORATE SEALS,
                         ATTESTED BY THEIR RESPECTIVE SECRETARIES OR ASSISTANT
                         SECRETARIES, ALL AS OF THE DAY AND YEAR FIRST ABOVE
                         WRITTEN.
</TABLE>

                                       28

<PAGE>

EXECUTION BY                           THE DETROIT EDISON COMPANY
COMPANY.

(Corporate Seal)                       By: _____________________________________
                                       Name:
                                       Title:

                   Attest:

                   By: _____________________________________
                   Name:
                   Title:

                   Signed, sealed and delivered by
                   THE DETROIT EDISON COMPANY
                   in the presence of

                   _________________________________________
                   Name:

                   _________________________________________
                   Name:

                                       29

<PAGE>

<TABLE>
<S>                      <C>
                         STATE OF MICHIGAN )
                                           ) SS
                         COUNTY OF WAYNE   )

ACKNOWLEDGMENT OF        On this           day of           , before me, the
EXECUTION BY             subscriber, a Notary Public within and for the County
COMPANY.                 of Wayne, in the State of Michigan, personally appeared
                                   , to me personally known, who, being by me
                         duly sworn, did say that he does business at 2000 2nd
                         Avenue, Detroit, Michigan 48226 and is the
                         of THE DETROIT EDISON COMPANY, one of the corporations
                         described in and which executed the foregoing
                         instrument; that he knows the corporate seal of the
                         said corporation and that the seal affixed to said
                         instrument is the corporate seal of said corporation;
                         and that said instrument was signed and sealed in
                         behalf of said corporation by authority of its Board of
                         Directors and that he subscribed his name thereto by
                         like authority; and said              acknowledged said
                         instrument to be the free act and deed of said
                         corporation.

(Notarial Seal)
                         ___________________________________
                                             , Notary Public
                         County of Wayne, State of Michigan
                         My Commission Expires:
</TABLE>

                                       30

<PAGE>

EXECUTION BY                           J.P. MORGAN TRUST COMPANY,
TRUSTEE.                               NATIONAL ASSOCIATION

(Corporate Seal)                       By: _____________________________________
                                       Name:
                                       Title:

                   Attest:

                   By: _____________________________________
                   Name:
                   Title:

                   Signed, sealed and delivered by
                   J.P. MORGAN TRUST COMPANY,
                   NATIONAL ASSOCIATION
                   in the presence of

                   _________________________________________
                   Name:

                   _________________________________________
                   Name:

                                       31

<PAGE>

<TABLE>
<S>                      <C>

                         STATE OF MICHIGAN )
                                           ) SS
                         COUNTY OF WAYNE   )

ACKNOWLEDGMENT OF        On this          day of           , before me, the
EXECUTION BY             subscriber, a Notary Public within and for the County
TRUSTEE.                 of Wayne, in the State of Michigan, personally appeared
                                     , to me personally known, who, being by me
                         duly sworn, did say that his business office is located
                         at 611 Woodward Avenue, Detroit, Michigan 48226, and he
                         is              of J.P. MORGAN TRUST COMPANY, NATIONAL
                         ASSOCIATION, one of the corporations described in and
                         which executed the foregoing instrument; that he knows
                         the corporate seal of the said corporation and that the
                         seal affixed to said instrument is the corporate seal
                         of said corporation; and that said instrument was
                         signed and sealed in behalf of said corporation by
                         authority of its Board of Directors and that he
                         subscribed his name thereto by like authority; and said
                                      acknowledged said instrument to be the
                         free act and deed of said corporation.

(Notarial Seal)
                         ___________________________________
                                             , Notary Public
                         County of Wayne, State of Michigan
                         My Commission Expires:
</TABLE>

                                       32

<PAGE>

<TABLE>
<S>                      <C>
                         STATE OF MICHIGAN )
                                           ) SS
                         COUNTY OF WAYNE   )

AFFIDAVIT AS TO                      , being duly sworn, says: that he is the
CONSIDERATION AND                     of THE DETROIT EDISON COMPANY, the
GOOD FAITH.              Mortgagor named in the foregoing instrument, and that
                         he has knowledge of the facts in regard to the making
                         of said instrument and of the consideration therefor;
                         that the consideration for said instrument was and is
                         actual and adequate, and that the same was given in
                         good faith for the purposes in such instrument set
                         forth.

                         ___________________________________
                         Name:
                         Title:
                         The Detroit Edison Company

                         Sworn to before me this    day of

(Notarial Seal)
                         ___________________________________
                                             , Notary Public
                         County of Wayne, State of Michigan
                         My Commission Expires:
</TABLE>

                                       33

<PAGE>

                         This instrument was drafted by:

                            When recorded return to:

                                 2000 2nd Avenue
                                     688 WCB
                             Detroit, Michigan 48226

                                       34

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}]]