Document:

Exhibit 10.8

                         [LETTERHEAD OF GE PARTNERS PLC]

1    PARTIES TO THE AGREEMENT

1.1  GE Partners Plc ("GEP")  domiciled in 306 Victoria House,  Victoria,  Mahe,
     Republic  of  Seychelles  and 1 Berkeley  Street,  London  W1J 8DJ,  United
     Kingdom.

1.2  Monkey Rock Inc ("the Company")  domiciled at PO Box 1030,  Sturgis,  South
     Dakota 57785, USA.

2    APPOINTMENT

2.1  GEP is hereby  engaged by the Company as its corporate  finance  adviser in
     relation to the Acquisition and the Company  accordingly  agrees itself not
     to appoint  and not to instruct  any other  person on its behalf to appoint
     any other person as  arranger/  advisor for such purpose at any time during
     the  Engagement  Period (as defined in paragraph 5) without GEP's  specific
     consent, such consent not to be unreasonably withheld.  Further, during the
     Engagement  Period the Company  itself shall ensure that no other person on
     its behalf  instructs  any other  agents,  intermediaries  or  advisors  in
     relation to the Acquisition without GEP's prior written approval.

2.2  The Company shall  promptly  inform GEP of all  information,  inquiries and
     proposals  it has  received  before  or  receives  at any time  during  the
     Engagement Period with respect to the Acquisition.

2.3  GEP shall inform the Company on a regular basis of any information that may
     come to its  attention  regarding  the  Acquisition  during the  Engagement
     Period.

3    SERVICES TO BE PROVIDED BY GEP

3.1  GEP will act as corporate finance adviser to the Company in connection with
     the transaction. As such, GEP will use all reasonable endeavours to provide
     the following advice, assistance and services:

3.2  GEP shall advise the Company on structuring and arranging the  Acquisition.
     Additionally,  as  arranger,  GEP  shall  assist  in  the  preparation  and
     authorisation of documentation, as required.

3.3  GEP shall use reasonable efforts through its marketing and public relations
     contacts  to  support  and  market  the  Acquisition  including;  (i) where
     appropriate, arrange meetings and assist in presentations;  (ii) assist the
     Company,  the  Directors  and  their  advisors  in  negotiating  definitive
     documentation and (iii) take such other actions as are reasonably necessary
     to give effect to the  foregoing.  The Company will give GEP reasonable and
     prompt  co-operation  and assistance to support GEP in the provision of its

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     services  hereunder and keep GEP informed of all  developments  relevant to
     the Acquisition ("the Services").

3.4  The Company  acknowledges  that this engagement  letter does not constitute
     any understanding or commitment whatsoever by GEP, or any of its respective
     affiliates, to participate financially in any way in the Acquisition.

3.5  At  the  Company's   option,   GEP  agrees  to  introduce  to  the  Company
     professional   advisers  to  include  but  not  be  limited  to   reporting
     accountants, auditors, lawyers and registrars, it being understood that all
     fees in  connection  with  such  professional  advice  will be borne by the
     Company.

3.6  At the Company's option,  GEP agrees to provide assistance in the marketing
     of the Company's product,  any such assistance to be governed by a separate
     agreement.

3.7  GEP  shall  on a best  efforts  basis  seek to  provide  or  make  relevant
     introductions to provide:

     *    Any finance required for the listing and additional  finance as agreed
          with the company for
     *    Ongoing  development pre listing.  Post listing finance is by separate
          negotiation.

4    FEES AND EXPENSES

4.1  In  consideration  of GEP providing the Services,  the Company will pay GEP
     the following fees, together with any applicable VAT thereon:

     (a)  10%  of  the  Target  Company's  issued  share  capital.
     (b)  $15.000 consultancy fee payable upon signing this contract.

     In addition  Monkey Rock Inc will pay the relevant  fees due as they become
     due to the accountants and auditors.

     In  addition,   the  Company   shall   reimburse  GEP  on  demand  for  all
     out-of-pocket expenses incurred by GEP in providing the Services, including
     but not limited to travel,  accommodation  and professional  advisors fees,
     subject to the  presentation of invoices to the Company,  together with any
     taxes  thereon.  All such expenses in excess of  (euro)1,000  (One Thousand
     Euros) will be subject to the prior  written  consent of the Company,  such
     consent not to be unreasonably  withheld.  A representative  will travel to

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     the USA no more than twice  during the course of the  contract on behalf of
     Monkey Rock Inc.  Each trip is  expected to cost $5000.  That cost is to be
     reimbursed by the company.

4.2  In the event that GEP provides the Services  hereunder and such Acquisition
     thereafter  does not proceed  owing to a material or adverse  change in the
     structure  of the  Company or to any  failure on the part of the Company to
     close on such  Acquisition,  the Company  shall be required to pay to GEP a
     cancellation fee of $50,000 (Fifty Thousand Dollars).

4.3  All fees as  referred  to in this  paragraph  4 shall be paid in USD$ or an
     alternative currency using the days prevailing interbank exchange rate. All
     out of pocket  expenses to be  reimbursed to GEP shall be reimbursed in the
     currency in which they were incurred.

5    ENGAGEMENT PERIOD AND TERMINATION

5.1  GEP's  engagement  hereunder shall become effective on the date the Company
     executes and  delivers  this  engagement  letter to GEP and shall remain in
     effect until  termination  in accordance  with the following  provisions of
     this paragraph 5 ("the Engagement Period").

     (a)  Termination   of  this   agreement   shall  occur  on  the   following
          events/circumstances:
          on the date 90 (ninety) days following execution by the parties of the
          present  agreement,  provided at least 30 (thirty)  days prior to such
          date,  at least one of the parties has served notice in writing on the
          other that it wishes the  engagement to terminate on such date.  Where
          no such notice is served by either party as aforesaid,  the engagement
          shall  remain in effect for another 90 days from such date,  under the
          same terms and conditions as set out in this engagement letter;

          GEP shall be entitled to terminate:

          i)   In the event there has been a material breach of the terms of the
               engagement letter by the Company;
          ii)  Otherwise,  subject to the minimum term established in clause 5.1
               (a),  above,  at any time as GEP so wishes on giving 30  (thirty)
               days written notice to the Company.

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          The Company shall be entitled to terminate:

          iii) in the event there has been a material breach of the terms of the
               engagement letter by the Company;
          iv)  otherwise,  subject to the minimum term established in clause 5.1
               (a), above, and to giving 30 (thirty) days written notice to GEP,
               in the event that the Company in its  discretion no longer wishes
               to proceed with the Acquisition,  in which event the cancellation
               fee  specified  in clause  4.3  hereof  will  become  immediately
               payable.

     (b)  At any time but without  prejudice to the  foregoing  as  specifically
          agreed between the parties in writing.

5.2  Upon  termination of this engagement  letter,  neither party shall have any
     continuing liability or obligation to the other.

6    INFORMATION AND CO-OPERATION

6.1  In connection with GEP's  engagement  hereunder,  the Company shall provide
     GEP with such  information  and documents as GEP may consider  necessary or
     desirable  in order to enable it to provide the  Services  and to carry out
     its duties and  responsibilities  hereunder.  In  particular,  and  without
     prejudice to the  generality  of the  foregoing,  the Company will promptly
     furnish GEP with such information as GEP may request in order to permit GEP
     to  assist  the  Company  in  preparing  any  material   required  for  the
     Acquisition (collectively, the "Acquisition Documents").

6.2  The Company will be solely  responsible for the contents of any Acquisition
     Documents  and  the  Company  represents  and  warrants  to  GEP  that  the
     Acquisition  Documents will, as of the date of any marketing,  distribution
     of  the  Acquisition  Documents  or  completion,   or  preparation  of  the
     Acquisition,  be true and accurate in all material  respects,  not omit any
     material fact and not be misleading in any respect and, with respect to any
     financial projections,  the Company represents that they have been, or will
     be,  prepared  in good faith on the basis of  reasonable  assumptions.  The
     Company agrees to advise GEP promptly of the occurrence of any event or any
     other change known to the Company which  results in any of the  Acquisition
     Documents containing any untrue statement of a material fact or omitting to
     state a material  fact the  omission of which would  render any  statements
     contained  therein,  in light of the  circumstances  under  which they were
     made,  misleading  and in such event the Company shall  provide  corrective
     information  to GEP suitable for  inclusion in a  supplemental  information

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     statement.  For purposes of this paragraph notification by the Company must
     be made  directly to GEP and GEP shall not be deemed  notified  solely as a
     result  of  action,  notice  or the  constructive  knowledge  of any of its
     Related Parties.

6.3  The  Company  acknowledges  that  GEP  (i)  will  use  and  rely  upon  the
     information  provided by the Company or on its behalf  which will  comprise
     the Acquisition  Documents  absolutely and without GEP itself independently
     verifying any of the same,  (ii) does not itself assume any  responsibility
     for the accuracy of completeness of the Acquisition Documents.

6.4  The Company hereby  authorises GEP to provide the Acquisition  Documents on
     its behalf to those concerned with the Acquisition. GEP shall each have the
     right to review and be required to approve all  Acquisition  Documents  and
     every  form of  letter,  circular,  notice,  memorandum  or  other  written
     communication  from the  Company  or any  person  acting  on its  behalf in
     connection  with  the  Acquisition  and  the  persons  to  whom  any of the
     foregoing  are  to be  directed,  such  approval  not  to  be  unreasonably
     withheld.

6.5  The Company  shall at all times use its efforts to assist GEP in  providing
     the Services and in carrying out its duties, functions and responsibilities
     hereunder and shall co-operate and use all reasonable efforts to assist GEP
     in complying  with the  applicable  laws of any  jurisdiction  in which GEP
     operating.

7    CONFIDENTIALITY

7.1  GEP  acknowledges  that,  in  performing  its  duties  from  time  to  time
     hereunder,  it shall receive from the Company certain information  relating
     to  the  Company,   the  Acquisition  and  otherwise  to  the  transactions
     contemplated by this engagement letter. For purposes of this paragraph, all
     such  information,  except  for  information  which  (i)  is  comprised  in
     Acquisition  Documents  as approved by the  Company  (ii) GEP is  otherwise
     authorised by the Company to disclose to third parties  otherwise than on a
     confidential  basis, (iii) is or becomes generally  available to the public
     other than as a result of a disclosure by GEP where such  disclosure is not
     permitted,  or (iv) is or becomes  available  to GEP on a  non-confidential
     basis  from a person or  entity  other  than the  Company,  is  hereinafter
     referred to as "Confidential Information".

7.2  GEP shall keep the  Confidential  Information  confidential and not without
     the Company's prior consent,  except as required by law, legal process,  or
     regulatory authority,  (i) disclose or reveal any Confidential  Information
     to any  person,  firm or  entity  other  than  those  employees,  agents or
     advisors  of  GEP  who  are  actively  and  directly  participating  in the
     transactions  contemplated by this engagement  letter or who otherwise need

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     to know  the  Confidential  Information  for  the  purpose  of  evaluating,
     structuring or reviewing any portion of the  Acquisition or GEP's role with
     respect thereto, or (ii) use Confidential Information for any purpose other
     than in connection  with the  transactions  contemplated by this engagement
     letter.

7.3  If GEP's  engagement  is  terminated  at any time,  GEP shall  continue  to
     maintain the Confidential  Information in confidence in accordance with the
     terms of this  engagement  letter  and,  upon the  written  request  of the
     Company,  such Confidential  Information and all copies thereof as are held
     by GEP,  will be returned to the Company,  or  destroyed by GEP,  provided,
     however,  that GEP may retain one copy of the  Confidential  Information in
     the files of its general counsel for compliance purposes or for the purpose
     of defending or  maintaining  any  litigation  relating to this  engagement
     letter.

7.4  If GEP  should  decide  that any such  Confidential  Information  should be
     included  in the  Acquisition  Documents,  and the  Company  withholds  its
     consent to such  disclosure  or refrains  from  co-operating  fully in such
     disclosure,  GEP may  immediately  terminate  the  Services and the Company
     shall immediately  reimburse all GEP's fees and expenses due under clause 4
     herein.,  as provided in paragraph  4.3 together with all fees, if any, due
     under paragraph 4.2.

7.5  The Company agrees that this engagement  letter  (including the fact of its
     existence  and its terms and  conditions),  and the services it  describes,
     together with any related information or documents, constitute confidential
     and  propriety  information  of GEP.  The Company  further  agrees that its
     written and verbal  reports to the Company and all writings  prepared by or
     on behalf of GEP and  furnished  to the  Company in  connection  with GEP's
     engagement  hereunder  (collectively the "GEP  Information")  shall be kept
     confidential and the Company shall not without GEP's prior written consent,
     except as required by law,  legal  process or a regulatory  authority,  (i)
     disclose or reveal any GEP Information to any person,  firm or entity other
     than those  employees,  agents or advisors of the Company who are  actively
     and  directly  participating  in  the  transactions  contemplated  by  this
     engagement  letter or otherwise  needed to know the GEP Information for the
     purpose  of  evaluating,  structuring  or  reviewing  any  portion  of  the
     Acquisition or the Company's  participation  with respect thereto,  or (ii)
     use the GEP  Information  for any purpose other than in connection with the
     transactions contemplated by this engagement letter.

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8    RELATED PARTIES

     GEP  acknowledges  that it will take all  reasonable  steps to ensure that,
     pursuant to paragraph 7 above, any Confidential  Information  obtained from
     the  Company  shall not be  disclosed  to the  Related  Parties,  except as
     permitted under paragraph 7.

9    INDEMNIFICATION

9.1  The Company  agrees to indemnify and hold harmless GEP, each of its Related
     Parties and each of its or their directors, officers, employees, agents and
     affiliates (each an "Indemnitee") in respect of any and all actions, claims
     losses, liabilities,  damages, costs, charges and expenses whatsoever which
     any  Indemnitee  may  suffer  or  incur or which  may be made  against  any
     Indemnitee  relating to or arising from GEP's engagement,  the provision of
     the  Services,   the   Acquisition  or  otherwise  from  the   arrangements
     contemplated  by this  engagement  letter or any acts or  omissions  of any
     Indemnitee  otherwise  requested  by the  Company  or any of the  Company's
     affiliates  pursuant  to or in  connection  therewith,  provided  that  the
     Company  shall not be liable  under this  indemnity  to the extent any such
     action, claims, losses,  liabilities,  damages, costs, charges, or expenses
     are  attributable  to the gross  negligence  or wilful  misconduct  of such
     Indemnitee.  The  indemnity in this  paragraph 9 is given to GEP in its own
     right and as trustee for each other Indemnitee.

10   DUE DILIGENCE AND INFORMATION

     The Company shall not be  responsible  for any due diligence in relation to
     the transaction and the Company  acknowledges  that any advice given by GEP
     on the  structuring  of the  Acquisition  shall  be  based  on  information
     provided by the Company.

11   CONFLICTS

     The Company  acknowledges that, in addition to GEP acting as arranger under
     this  engagement  letter,  other  members of the GEP group of companies may
     have other roles in relation to the  Acquisition  or provide other services
     to the Company or its affiliates or to other persons who may have a role or
     participation  in the  Acquisition or otherwise,  and the Company hereby on
     its own behalf and on behalf of its affiliates waives any claim against GEP
     in undertaking any such other roles.

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12   LIMITED GEP ROLE

     It is expressly  agreed and understood that GEP is not providing nor is the
     Company relying on GEP for legal, accounting,  tax or other advice and that
     the Company will rely on the advice of its own  professionals  and advisors
     as it considers  appropriate  for such matters and will make an independent
     analysis and decision regarding the Acquisition in relation to such matters
     based on such advice.  The  determination  whether to accept any proposals,
     presentation  or  recommendations  arising out of GEP's services under this
     engagement letter shall be made by the Company in its sole discretion,  and
     the  Company  shall have the  option,  at its sole  discretion,  to accept,
     reject or  modify  any such  proposals,  presentations  or  recommendations
     rendered to it by GEP. Nothing in this engagement letter shall give rise to
     any  liability  or  responsibility  on the part of GEP for the  success  or
     otherwise of the Acquisition.

13   GEP AFFILIATES

     The  Company  hereby  acknowledges  and  agrees  that GEP may  perform  the
     services,  contemplated to be rendered by it, under this engagement  letter
     through  selected  affiliates  within  the  host  country  of  listing.  In
     connection  therewith  but  at all  times  subject  to the  confidentiality
     obligations  set out  herein,  GEP may share  any  information  on  matters
     relating to the Company with such affiliates.

14   MODIFICATION OF AGREEMENT

     This  engagement  letter may be  modified,  amended or  superseded  only in
     writing signed by both the parties  hereto and expressly  referring to this
     engagement letter.

15   BROKERS

     The Company  represents  and warrants that there have been no other brokers
     or agents  engaged by it or by any other person on its behalf in connection
     with the transactions  contemplated by this engagement  letter,  other than
     those  specifically  advised.  The Company shall indemnify and hold GEP for
     itself and on trust for each of its Related Parties (each an  "Indemnitee")
     harmless against the claim of any broker or agent claiming to have acted on
     behalf of the  Company  or any of its  affiliates  in  connection  with the
     Acquisition,  and against the claim of any other party  (other than a party
     expressly  engaged by GEP)  claiming to be entitled to any fees or expenses
     in  connection  with the  Acquisition  and against  all costs,  charges and
     expenses incurred by each Indemnitee in relation thereto.

16   AUTHORITY

     The Company represents and warrants to GEP that its entry into and delivery
     of this  engagement  letter has been duly  authorized.  GEP  represents and

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     warrants  to the  Company  that  GEP's  entry  into  and  delivery  of this
     engagement letter has been duly authorized.

17   NO AGENCY

     Notwithstanding  the identification of GEP as arranger for the Acquisition,
     GEP  will  act  under  this  engagement  letter  solely  as an  independent
     contractor. The execution of this engagement letter shall not authorize any
     party to act as or hold themselves to act as an agent or fiduciary, and GEP
     shall not be or be deemed to be an agent or fiduciary of the Company.

18   TAXES: PAYMENTS FREE AND CLEAR

     All  payments  by the Company  under this  engagement  letter  shall not be
     subject to any  counter-claim or set-off for, or be otherwise  affected by,
     any claim or dispute relating to any matter and will be made free and clear
     of and without  deduction for any and all present or future taxes,  levies,
     imposts,  deductions,  charges  over  holdings,  and all  liabilities  with
     respect thereto (together "Taxes"). If the Company shall be required by law
     to deduct any Taxes from or in respect of any sum payable to GEP hereunder,
     the sum payable shall be increased as may be necessary so that after making
     all required  deductions,  GEP receives an amount equal to the sum it would
     have received had no such  deductions  been made. In addition,  the Company
     agrees  to pay any  present  or  future  stamp or sales  taxes or any other
     excise  taxes,  charges or similar  levies that arise from any payment made
     hereunder or from the execution,  delivery or registration of, or otherwise
     with  respect  to this  engagement  letter at the same time as  payment  or
     reimbursement  of any  fees,  costs and  expenses  payable  hereunder.  The
     Company  shall pay for any VAT or other  form of duty or sales tax which is
     required to be levied thereon. 19 DISPUTES

     Any disputes or complaints  (with all relevant  details) must be in writing
     and should be referred in the first instance to the  Compliance  Officer of
     GEP. Should the Company be  dissatisfied  with the handling of the dispute,
     the Company has the right to refer the matter to the  Directors  of GEP. As
     the Company is  classified  as either an  Intermediate  Customer or Private
     Expert Client and thereby an  Intermediate  Customer the Company waives the
     right  to the  services  of  any  Financial  Ombudsman  Service  (FOS)  and
     compensation under the any regulatory regime.

20   ASSIGNMENT

     This  engagement  letter  shall be binding upon and inure to the benefit of
     the parties  hereto and may not be assigned  by either  party,  without the
     prior written consent of the other party.

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21   ENTIRE AGREEMENT

     This agreement supersedes any and all discussions, written or oral, between
     the  parties  hereto  and  sets out the  entire  agreement  of the  parties
     relating to the subject matter of this engagement letter.

22   COUNTERPARTS

     This  agreement  may be  executed in  counterparts,  each of which shall be
     deemed an original and all of which  counterparts  shall constitute one and
     the same document.

23   APPLICABLE LAW

     The laws of the United Kingdom apply to this agreement

     Please  indicate  the  Company's  acceptance  of  the  provisions  of  this
     engagement  letter by  signing  as  indicated  and in  accordance  with the
     provisions set out below:

     This engagement letter is hereby executed and delivered by the parties as a
     Deed on the date and year of  acceptance of the terms of this letter by the
     Company as indicated by the date of its signature below:

EXECUTED AND DELIVERED AS A DEED
By Monkey Rock Inc

By: /s/ Dexter Aspacio
   -------------------------------------
   Dexter Aspacio

Date 26 November 2009

EXECUTED AND DELIVERED AS A DEED
by Global Equity Partners Plc

By: /s/ Peter James Smith
   -------------------------------------
   Peter James Smith

Date 26 November 2009

                                       10Sixth Supplemental Indenture, dated as of November 29, 2011

 Exhibit 4.30 
 SIXTH SUPPLEMENTAL INDENTURE TO FIRST MORTGAGE AND DEED OF TRUST 
 ITC MIDWEST LLC

 TO 

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as successor to THE BANK OF 

NEW YORK TRUST COMPANY, N.A. 
 Trustee 
 Dated as of November 29, 2011 

Supplementing the First Mortgage and Deed of Trust dated as of January 14, 2008, as heretofore 

supplemented 

From ITC MIDWEST LLC to THE BANK OF NEW YORK TRUST COMPANY, N.A., Trustee 

THIS INSTRUMENT CONTAINS AFTER-ACQUIRED PROPERTY PROVISIONS 
 Establishing a series of Securities designated 3.50% First Mortgage Bonds, Series E due 2027 
  

 
 This agreement secures future advances as more
fully set forth in section 5.10 hereof. 
 This document secures an additional debt amount of $6,500,000. Tax in the amount of $3,956 was paid
on the debt amount of $1,720,000 in Le Sueur County, Minnesota, document number 353162 recorded January 16, 2008. Notwithstanding anything in the contrary contained herein the mortgage that is amended hereby in Minnesota is limited to a debt
amount of $8,220,000.00 under chapter 287 of Minnesota Statutes. 
  
  

 TABLE OF CONTENTS 

 

					
	  	  	Page	 
	 ARTICLE ONE DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	  	 	5	  
		
	 ARTICLE TWO TITLE, FORM AND TERMS AND CONDITIONS OF THE BONDS
	  	 	12	  
		
	 Section 2.01. The Bonds.
	  	 	12	  
	 Section 2.02. Payment on the Bonds.
	  	 	13	  
	 Section 2.03. Mandatory Redemption of the Bonds.
	  	 	14	  
	 Section 2.04. Optional Redemption.
	  	 	14	  
	 Section 2.05. Purchase of Bonds.
	  	 	15	  
	 Section 2.06. Payment upon Event of Default.
	  	 	15	  
	 Section 2.07. Transfers.
	  	 	16	  
		
	 ARTICLE THREE ADDITIONAL COVENANTS
	  	 	16	  
		
	 Section 3.01. Affirmative Covenants of the Company.
	  	 	16	  
	 Section 3.02. Negative Covenants of the Company.
	  	 	18	  
		
	 ARTICLE FOUR ADDITIONAL EVENTS OF DEFAULT; REMEDIES
	  	 	20	  
		
	 Section 4.01. Events of Default.
	  	 	20	  
	 Section 4.02. Acceleration of Maturity; Rescission and Annulment.
	  	 	21	  
		
	 ARTICLE FIVE MISCELLANEOUS PROVISIONS
	  	 	22	  
		
	 Section 5.01. Execution of Sixth Supplemental Indenture.
	  	 	22	  
	 Section 5.02. Effect of Headings.
	  	 	22	  
	 Section 5.03. Successors and Assigns.
	  	 	22	  
	 Section 5.04. Severability Clause.
	  	 	22	  
	 Section 5.05. Benefit of Sixth Supplemental Indenture.
	  	 	22	  
	 Section 5.06. Execution and Counterparts.
	  	 	22	  
	 Section 5.07. Conflict with Mortgage Indenture.
	  	 	23	  
	 Section 5.08. Recitals.
	  	 	23	  
	 Section 5.09. Governing Law.
	  	 	23	  
	 Section 5.10. Future Advances Secured.
	  	 	23	  

  
 (i)

 SIXTH SUPPLEMENTAL INDENTURE (this “SIXTH SUPPLEMENTAL INDENTURE”), dated as of
November 29, 2011, between ITC MIDWEST LLC, a limited liability company organized and existing under the laws of the State of Michigan (herein called the “Company”), having its principal office at 27175 Energy Way, Novi, Michigan
48377, and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. (as successor to The Bank of New York Trust Company, N.A.), a national banking association, as trustee (herein called the “Trustee”), the office of the Trustee at which on the date
hereof its corporate trust business is principally administered being 2 N. LaSalle, Suite 1020, Chicago, Illinois 60602. 

RECITALS OF THE COMPANY 
 WHEREAS, the Company has heretofore executed and delivered to the Trustee a First Mortgage and Deed of Trust dated as of January 14, 2008 (the “Mortgage Indenture”), encumbering the real
property interests as more particularly described on Exhibit A attached to the Mortgage Indenture and providing for the issuance by the Company from time to time of its bonds, notes or other evidences of indebtedness (in the Mortgage Indenture and
herein called the “Securities”) to be issued in one or more series and to provide security for the payment of the principal of and premium, if any, and interest, if any, on the Securities; and 

WHEREAS, the Company has heretofore executed and delivered the following supplemental indentures, dated as hereinafter set forth:

  

									
	 Instrument
	 	  	  	 Date
	  	  	  	  
	First Supplemental Indenture	  	January 14, 2008	  	
			
	Second Supplemental Indenture	  	December 15, 2008	  	
			
	Third Supplemental Indenture	  	December 15, 2008	  	
			
	Fourth Supplemental Indenture	  	December 10, 2009	  	
			
	Fifth Supplemental Indenture	  	July 15, 2011	  	

 WHEREAS, the Mortgage Indenture, the First Supplemental Indenture, the Second Supplemental Indenture, the
Third Supplemental Indenture, the Fourth Supplemental Indenture and the Fifth Supplemental Indenture listed in the foregoing paragraph were recorded in the offices set forth in Schedule 1 attached hereto; and 

WHEREAS, there have heretofore been issued under the Indenture the following Securities in the principal amounts as follows: 

							
	 Title
	  	Issued	  	Principal Amount	 
	 6.150% First Mortgage Bonds, Series A, due 2038
	  	January 24, 2008	  	$	175,000,000	  
	 7.12% First Mortgage Bonds, Series B, due 2017
	  	December 22, 2008	  	$	40,000,000	  
	 7.27% First Mortgage Bonds, Series C, due 2020
	  	December 22, 2008	  	$	35,000,000	  
	 4.60% First Mortgage Bonds Series D, due 2024
	  	December 17, 2009
 February 18,
2010
	  	$
 $
	35,000,000
 40,000,000
	  
   

 WHEREAS, The Bank of New York Trust Company, N.A., became The Bank of New York Mellon Trust Company,
N.A., a national banking association, pursuant to a name change, and approved by the Comptroller of Currency, effective July 1, 2008; and 
 WHEREAS, in addition to the property described in the Mortgage Indenture, the Company has acquired certain other property, rights, and interests in property; and 

WHEREAS, the Company, in the exercise of the power and authority conferred upon and reserved to it under the provisions of the Mortgage
Indenture and pursuant to appropriate resolutions of the Board of Directors, has duly determined to make, execute and deliver to the Trustee this Sixth Supplemental Indenture to the Mortgage Indenture as permitted by Sections 2.01, 3.01, 4.01, 4.02
and 14.01 of the Mortgage Indenture in order to establish the form and terms of, and to provide for the creation and issuance of, a series of Securities under the Mortgage Indenture in an aggregate principal amount of $100,000,000 and to amend and
supplement the Mortgage Indenture as herein provided; and 
 WHEREAS, all things necessary to make the Bonds (as defined
herein), 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 Mortgage Indenture set forth against payment therefor the
valid, binding and legal obligations of the Company and to make this Sixth Supplemental Indenture a valid, binding and legal agreement of the Company, have been done; 
 NOTICE TO IOWA RESIDENTS: This Sixth Supplemental Indenture secures credit in the amount of ONE HUNDRED MILLION DOLLARS ($100,000,000) together with the amount of all prior advances pursuant to Securities
issuances heretofore made pursuant to the Mortgage Indenture, the First Supplemental Indenture, the Second Supplemental Indenture, the Third Supplemental Indenture, the Fourth Supplemental Indenture and the Fifth Supplemental Indenture for a total
combined amount advanced of FOUR HUNDRED TWENTY-FIVE MILLION DOLLARS ($425,000,000). Loans and advances up to this amount, together with interest, are senior to indebtedness to other creditors under subsequently recorded or filed mortgages and
liens. 
 GRANTING CLAUSES 
 NOW, THEREFORE, THIS SIXTH SUPPLEMENTAL INDENTURE WITNESSETH that, in order to establish the terms of a series of Securities, and for and in consideration of the premises and of the covenants contained in
the Mortgage Indenture and in this Sixth Supplemental Indenture and for other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, and in order to secure the payment of the principal of and premium, if any,
and interest, if any, on, and all 

  
 2 

 
other amounts (including, without limitation, fees, expenses and indemnities) in connection with, all Securities from time to time Outstanding and the performance of the covenants therein and
herein contained and to declare the terms and conditions on which such Securities are secured, the Company has granted, bargained, sold, conveyed, assigned, transferred mortgaged, pledged, set over and confirmed and hereby grants, bargains, sells,
conveys, assigns, transfers, mortgages, pledges, sets over and confirms to the Trustee, and has granted and hereby grants to the Trustee, for itself and for the benefit of the Holders, with power of sale, a lien upon and a security interest in, the
following (subject, however, to the terms and conditions set forth in the Mortgage Indenture and herein): 
 GRANTING CLAUSE
FIRST 
 All right, title and interest of the Company, as of the date of the execution and delivery of this Sixth Supplemental
Indenture, as originally executed and delivered, in and to all property, real, personal and mixed, located in the States of Illinois, Iowa, Minnesota and Missouri, or wherever else situated (other than Excepted Property), including without
limitation all right, title and interest of the Company in and to the following property and interests so located (other than Excepted Property): 
 (a) all real property owned in fee, easements, easement estates and other interests in real property which are specifically described or referred to in Exhibit A attached to the Mortgage Indenture,
Exhibit A attached to the First Supplemental Indenture, Exhibit A attached to the Second Supplemental Indenture, Exhibit A attached to the Third Supplemental Indenture, Exhibit A attached to the Fourth Supplemental Indenture, Exhibit A attached to
the Fifth Supplemental Indenture, and Exhibit A attached hereto; 
 (b) all licenses, permits to use the real property of
others, franchises to use public roads, streets and other public properties, rights of way and other rights or interests relating to the occupancy or use of real property; 
 (c) all facilities, machinery, equipment and fixtures for the transmission and distribution of electric energy including, but not limited to, all plants, air and water pollution control and sewage and
solid waste disposal facilities, switchyards, towers, substations, transformers, poles, lines, cables, conduits, ducts, conductors, meters, regulators and all other property used or to be used for any or all of such purposes; 

(d) all buildings, offices, warehouses, structures or improvements in addition to those referred to or otherwise included in clauses
(a) and (c) above; 
 (e) all computers, data processing, data storage, data transmission and/or telecommunications
facilities, equipment and apparatus necessary for the operation or maintenance of any facilities, machinery, equipment or fixtures described or referred to in clause (c) above; 

(f) all of the foregoing property in the process of construction; and 

(g) (except as hereinbefore or hereinafter expressly excepted) all the right, title and interest of the Company in and to all other
property of any kind or nature appertaining to and/or used and/or occupied and/or enjoyed in connection with any property hereinbefore described; 
 GRANTING CLAUSE SECOND 
 Subject to the applicable exceptions permitted by
Sections 8.10(d), 13.03 and 13.05 of the Mortgage Indenture, all right, title and interest of the Company in all property of every kind and 

  
 3 

 
description and wheresoever situated, real, personal and mixed (other than Excepted Property) which may be hereafter acquired by the Company, it being the intention of the Company that all such
property acquired by the Company after the date of the execution and delivery of this Sixth Supplemental Indenture, as originally executed and delivered, shall be as fully embraced within and subjected to the Lien of the Indenture as if such
property were owned by the Company as of the date of the execution and delivery of this Sixth Supplemental Indenture, as originally executed and delivered; 
 GRANTING CLAUSE THIRD 
 Any Excepted Property, which may, from time to time after
the date of the execution and delivery of this Sixth Supplemental Indenture, as originally executed and delivered, by delivery or by an instrument supplemental to the Indenture, be subjected to the Lien of the Indenture by the Company, the Trustee
being hereby authorized to receive the same at any time as additional security hereunder; it being understood that any such subjection to the Lien of the Indenture of any Excepted Property as additional security may be made subject to such
reservations, limitations or conditions respecting the use and disposition of such property or the proceeds thereof as shall be set forth in such instrument; and 
 GRANTING CLAUSE FOURTH 
 All tenements, hereditaments, servitudes and
appurtenances belonging or in any wise appertaining to the aforesaid property, with the reversions and remainders thereof; 

EXCEPTED PROPERTY 
 Expressly excepting and excluding, however, from the Lien of the Indenture all right, title and interest of the Company in and to all Excepted Property, whether now owned or hereafter acquired;

 TO HAVE AND TO HOLD all such property, unto the Trustee, its successors in trust and their assigns forever; 

SUBJECT, HOWEVER, to (a) Liens existing at the date of the execution and delivery of the Mortgage Indenture, as originally executed
and delivered, which Liens do not in the aggregate materially and adversely impair the use of the Mortgaged Property in the operation of the business of the Company, or materially and adversely affect the security afforded by the Indenture,
(b) as to property acquired by the Company after the date of the execution and delivery of the Mortgage Indenture, as originally executed and delivered, Liens existing or placed thereon at the time of the acquisition thereof (including, but not
limited to, Purchase Money Liens), and (c) Permitted Liens; 
 IN TRUST, for the equal and ratable benefit and security of
the Holders from time to time of all Outstanding Securities without any priority of any such Security over any other such Security; 
 PROVIDED, HOWEVER, that the right, title and interest of the Trustee in and to the Mortgaged Property shall cease, terminate and become void in accordance with, and subject to the conditions set
forth in, Article IX of the Mortgage Indenture, and if, thereafter, the principal of and premium, if any, and interest, if any, on, and any other amounts (including, without limitation, fees, expenses and indemnities) in connection with, the
Securities shall have been paid to the Holders thereof, or shall have been paid to the Company pursuant to Section 6.03 of the Mortgage Indenture, then and in that case the Indenture shall terminate, and the Trustee shall execute and deliver to
the Company such instruments as the Company shall require to evidence such termination; otherwise the Indenture, and the estate and rights hereby granted, shall be and remain in full force and effect; 

  
 4 

 IT IS HEREBY COVENANTED AND AGREED by and between the Company and the Trustee that all the
Securities are to be authenticated and delivered, and that the Mortgaged Property is to be held, subject to the further covenants, conditions and trusts set forth in the Indenture; and 

THE PARTIES HEREBY COVENANT AND AGREE as follows: 
 ARTICLE ONE 
 DEFINITIONS AND OTHER PROVISIONS 

OF GENERAL APPLICATION 
 (a) Mortgage Indenture Definitions. Each capitalized term that is used herein and is defined in the Mortgage Indenture shall have the meaning specified in the Mortgage Indenture unless such term is
otherwise defined herein; provided, however, that any reference to a “Section” or “Article” refers to a Section or Article, as the case may be, of this Sixth Supplemental Indenture, unless otherwise expressly stated.

 (b) Additional Definitions. For purposes of this Sixth Supplemental Indenture, except as otherwise expressly provided
or unless the context otherwise requires, the following capitalized terms shall have the meanings set forth below: 

“Bond” has the meaning assigned to that term in Section 2.01(a). 

“Bondholders” means (a) the Initial Bondholders and (b) each subsequent holder of a Bond as shown on the register
maintained by the Company pursuant to Section 3.05 of the Indenture. 
 “Capital Stock” means, with respect to
any Person, any and all shares, interests, participations or other equivalents (however designated, whether voting or non-voting) in the equity of such Person, including, without limitation, all partnership interests, common stock and preferred
stock and any and all warrants, rights or options to purchase any of the foregoing. 
 “Capital Lease” means a lease
with respect to which the lessee is required concurrently to recognize the acquisition of an asset and the incurrence of a liability in accordance with GAAP as in effect on the Closing Date. 

“Capital Lease Obligation” means, with respect to any Person and a Capital Lease, the amount of the obligation of such Person
as the lessee under such Capital Lease which would, in accordance with GAAP as in effect on the Closing Date, appear as a liability on a balance sheet of such Person. 
 “Cash Equivalents” means (i) obligations of or directly and fully guaranteed by the United States, or of any agency or instrumentality thereof, maturing not later than three hundred
sixty-five (365) days from the date of acquisition thereof, (ii) commercial paper rated (on the date of acquisition thereof) A-1 (or the equivalent thereof) or better by S&P and P-1 (or the equivalent thereof) or better by
Moody’s, maturing not later than two hundred seventy (270) days from the date of acquisition thereof, (iii) guaranteed investment contracts maturing not later than three hundred sixty-five (365) days from the date of acquisition
thereof and entered into with (or fully guaranteed by) financial institutions whose long-term unsecured non-credit enhanced indebtedness is rated A- or better by S&P and A3 or better by Moody’s, and (iv) investments in money market
funds having a rating from each of S&P and Moody’s in the highest investment category granted thereby. 

  
 5 

 “Closing Date” has the meaning assigned to that term in Schedule B to the Purchase
Agreement. 
 “Code” means the United States Internal Revenue Code of 1986, as amended. 

“Debt” means, without duplication, with respect to any Person, the sum of (a) liabilities for borrowed money,
(b) liabilities (excluding accounts payable and other accrued liabilities arising in the ordinary course of business) for the deferred purchase price of property and conditional sale or title retention agreements, (c) Capital Lease
Obligations, (d) liabilities for borrowed money secured by a Lien on property, (e) reimbursement obligations (contingent or otherwise) in respect of letters of credit, performance bonds or bankers’ acceptances, (f) obligations
under any Hedging Agreements, (g) liabilities for Synthetic Leases, (h) obligations evidenced by bonds, debentures, notes or similar instruments and (i) any guarantee with respect to liabilities in clauses (a) through
(h) above. All references to the principal amount of Debt outstanding at any time shall be understood to include not only the principal amount of any liabilities for borrowed money or of any bonds, debentures, notes or similar instruments, but
also obligations (including those related to reimbursement obligations in respect of letters of credit, but excluding those in respect of interest, fees and other similar amounts) under all other types of Debt described in this definition.

 “Default” means the occurrence and continuance of an event, which, with the giving of notice or lapse of time, or
both, would constitute an Event of Default. 
 “Dispose” or “Disposition” means a sale, lease, transfer or
other disposition of any assets of the Company. 
 “Environmental Laws” means any and all federal, state, local, and
foreign statutes, laws, regulations, ordinances, rules, judgments, orders, decrees, permits, licenses or legally enforceable governmental restrictions relating to pollution and the protection of the environment or the release of any Hazardous
Materials into the environment. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from
time to time and the regulations promulgated thereunder. 
 “ERISA Affiliate” means, with respect to any Person, any
trade or business (whether or not incorporated) which is a member of a group of which such Person is a member and which is treated as a single employer with such Person under Section 414 of the Code. 

“ERISA Event” means: 
 (a) the occurrence of a reportable event, within the meaning of Section 4043 of ERISA, with respect to any Plan unless the notice requirement with respect to such event has been waived; 

(b) the application for a minimum funding waiver with respect to a Plan; 

(c) the provision by the administrator of any Plan of a notice of intent to terminate such Plan, pursuant to Section 4041(c) of
ERISA; 
 (d) the withdrawal by the Company or any ERISA Affiliate from a Multiple Employer Plan during a plan year for which it
was a substantial employer, as defined in Section 4001(a)(2) of ERISA; 

  
 6 

 (e) the conditions for the imposition of a lien under Section 303(k) of ERISA shall
have been met with respect to any Plan; 
 (f) the adoption of an amendment to a Plan requiring the provision of security to
such Plan pursuant to Section 436 of the Code; 
 (g) the institution by the PBGC of proceedings to terminate, or cause a
trustee to be appointed to administer, a Plan pursuant to Section 4042 of ERISA; or 
 (h) the incurrence of withdrawal
liability under Title IV of ERISA by the Company or any of its ERISA Affiliates upon the withdrawal by the Company or any of its ERISA Affiliates from a Multiemployer Plan or the incurrence of liability by the Company or any of its ERISA Affiliates
upon the termination of a Multiemployer Plan. 
 “Event of Default” has the meaning assigned to that term in Article
Four of this Sixth Supplemental Indenture. 
 “FERC” means the United States Federal Energy Regulatory Commission.

 “Financing Agreements” means the Indenture, including this Sixth Supplemental Indenture, the Purchase Agreement and
the Bonds. 
 “Governmental Approval” means any authorization, consent, approval, license, franchise, ruling, tariff,
rate, permit, certificate, exemption of, or filing or registration with, any Governmental Authority required in connection with: 
 (a) the execution, delivery or performance of any Transmission Document by any party thereto; 
 (b) the entry into or performance of any Financing Agreement by the Company (including the actual issuance of the Bonds) or the grant and perfection of any Lien contemplated to be granted by the
Indenture; or 
 (c) the ownership, development, expansion, operation or maintenance of the Transmission System.

 “Hazardous Materials” means any and all pollutants, toxic or hazardous wastes or other substances that could
reasonably be expected to pose a hazard to health and safety, the removal of which could reasonably be expected to be required or the generation, manufacture, refining, production, processing, treatment, storage, handling, transportation, transfer,
use, disposal, release, discharge, spillage, seepage or filtration of which is restricted, prohibited or penalized by any applicable law including, but not limited to, asbestos, urea formaldehyde foam insulation, polychlorinated biphenyls,
petroleum, petroleum products, lead based paint, radon gas or similar restricted, prohibited or penalized substances. 

“Hedging Agreements” means all interest rate swaps, caps or collar agreements or similar arrangements dealing with interest
rates or currency exchange rates or the exchange of nominal interest obligations, either generally or under specific contingencies. 
 “Holdco” means ITC Holdings Corp., a Michigan corporation. 

  
 7 

 “Indenture” means the Mortgage Indenture, as supplemented and modified by any and
all indentures supplemental thereto, including this Sixth Supplemental Indenture. 
 “Initial Bondholder” means each
Bondholder listed on Schedule A to the Purchase Agreement purchasing any Bonds on the Closing Date. 
 “Institutional
Investor” means (a) any Initial Bondholder, (b) any holder of more than $5,000,000 of the aggregate principal amount of the Bonds and (c) any bank, trust company, other financial institution, pension plan, investment company,
insurance company, or similar financial institution. 
 “Investment” or “Invest” means (a) a purchase
or acquisition of, or an investment or reinvestment in, Rate Base Assets or (b) without duplication, the making of a firm, good faith contractual commitment, in the ordinary course of business and not subject to any conditions in the
Company’s control, to purchase or acquire, or invest or reinvest in, Rate Base Assets. 
 “Law” means any
federal, state, local (including municipal) or other statute, law, rule, regulation, ordinance, order, code, policy or rule of common law, now or hereafter in effect, and any judicial or administrative interpretation thereof by a Governmental
Authority or otherwise (including any judicial or administrative order, consent decree or judgment to which the Company is a party). 
 “Make-Whole Amount” means, with respect to any Bond, an amount, as determined by the Company, equal to the excess, if any, of the Discounted Value of the Remaining Scheduled Payments with
respect to the Called Principal of such Bond over the amount of such Called Principal; provided that the Make-Whole Amount may in no event be less than zero. For the purposes of determining any Make-Whole Amount, the following terms have the
following meanings: 
 “Called Principal” means, with respect to any Bond, the principal of such Bond that is to be
redeemed pursuant to Section 2.03 or 2.04 or has become or is declared to be immediately due and payable pursuant to Section 10.02 of the Indenture, as the context requires. 

“Discounted Value” means, with respect to the Called Principal of any Bond, the amount obtained by discounting all Remaining
Scheduled Payments with respect to such Called Principal from their respective scheduled due dates to the Settlement Date with respect to such Called Principal, in accordance with accepted financial practice and at a discount factor (applied on the
same periodic basis as that on which interest on the Bonds is payable) equal to the Reinvestment Yield with respect to such Called Principal. 
 “Reinvestment Yield” means, with respect to the Called Principal of any Bond, 0.50% over the yield to maturity implied by (i) the yields reported, as of 10:00 a.m. (New York City time) on
the second Business Day preceding the Settlement Date with respect to such Called Principal, on the display designated as “Page PX1” on the Bloomberg Financial Markets Services Screen (or such other display as may replace Page PX1 on the
Bloomberg Financial Markets Services Screen) for the most recently issued actively traded on the run U.S. Treasury securities having a maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date, or (ii) if
such yields are not reported as of such time or the yields reported as of such time are not ascertainable (including by way of interpolation), the Treasury Constant Maturity Series Yields reported,

  
 8 

 
for the latest day for which such yields have been so reported as of the second Business Day preceding the Settlement Date with respect to such Called Principal, in Federal Reserve Statistical
Release H.15 (or any comparable successor publication) for actively traded on the run U.S. Treasury securities having a constant maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date. In the case of each
determination under clause (i) or clause (ii), as the case may be, of the preceding sentence, such implied yield will be determined, if necessary, by (a) converting U.S. Treasury bill quotations to bond-equivalent yields in accordance with
accepted financial practice and (b) interpolating linearly between (1) the applicable actively traded on the run U.S. Treasury security with the maturity closest to and greater than such Remaining Average Life and (2) the applicable
actively traded on the run U.S. Treasury security with the maturity closest to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of the applicable Bond.

 “Remaining Average Life” means, with respect to any Called Principal, the number of years (calculated to the
nearest one-twelfth year) obtained by dividing (i) such Called Principal into (ii) the sum of the products obtained by multiplying (a) the principal component of each Remaining Scheduled Payment with respect to such Called Principal
by (b) the number of years (calculated to the nearest one-twelfth year) that will elapse between the Settlement Date with respect to such Called Principal and the scheduled due date of such Remaining Scheduled Payment. 

“Remaining Scheduled Payments” means, with respect to the Called Principal of any Bond, all payments of such Called Principal
and interest thereon that would be due after the Settlement Date with respect to such Called Principal if no payment of such Called Principal were made prior to its scheduled due date; provided that if such Settlement Date is not a date on
which interest payments are due to be made under the terms of the Bonds, then the amount of the next succeeding scheduled interest payment will be reduced by the amount of interest accrued to such Settlement Date and required to be paid on such
Settlement Date pursuant to Section 2.03 or 2.04 or Section 10.02 of the Indenture. 
 “Settlement Date”
means, with respect to the Called Principal of any Bond, the date on which such Called Principal is to be redeemed pursuant to Section 2.03 or 2.04 or has become or is declared to be immediately due and payable pursuant to Section 10.02 of
the Indenture, as the context requires. 
 “Material” means material in relation to the business, operations, affairs,
financial condition, assets or properties of the Company. 
 “Material Adverse Effect” means a material adverse effect
on (a) the business, operations, affairs, financial condition, assets or properties of the Company, (b) the ability of the Company to perform its obligations under any Financing Agreement (including, the timely payments of principal of, or
Make-Whole Amount, if any, and interest on, the Bonds), (c) the legality, validity or enforceability of the Financing Agreements or (d) the perfection or priority of the Liens purported to be created pursuant to the Indenture or the rights
and remedies of the Bondholders with respect thereto. 
 “MISO” means the Midwest Independent Transmission System
Operator, Inc. 

  
 9 

 “Moody’s” means Moody’s Investors Service, Inc., or any successor
thereto. 
 “Mortgage Indenture” has the meaning assigned to that term in the first Recital. 

“Multiemployer Plan” means a multiemployer plan, as defined in Section 4001(a)(3) of ERISA, to which the Company or any of
its ERISA Affiliates is making or accruing an obligation to make contributions, or has within any of the preceding five plan years made or accrued an obligation to make contributions, such plan being maintained pursuant to one or more collective
bargaining agreements. 
 “Multiple Employer Plan” means a single employer plan, as defined in
Section 4001(a)(15) of ERISA, which (a) is maintained for employees of the Company or any of its ERISA Affiliates and at least one Person other than the Company and its ERISA Affiliates or (b) was so maintained and in respect of which
the Company or any of its ERISA Affiliates could have liability under Section 4064 or 4069 of ERISA in the event such plan has been or were to be terminated. 
 “Net Proceeds” means, with respect to any Disposition of assets, the gross proceeds thereof (including any such proceeds received by way of deferred payment, installment, price adjustment or
otherwise), whether in cash or otherwise, net of any taxes paid or reasonably estimated to be paid as a result thereof (after taking into account any available tax credits or deductions applicable thereto). 

“NRSRO” means any credit rating agency that is recognized as a Nationally Recognized Statistical Rating Organization by the
U.S. Securities and Exchange Commission. 
 “OATT” means, at any given time, the open access transmission tariff of
MISO that is applicable to the Company, approved by the FERC and then in effect. 
 “PBGC” means the Pension Benefit
Guaranty Corporation established pursuant to Subtitle A of Title IV of ERISA, or any successor. 
 “Permitted Additional
Senior Secured Debt” has the meaning assigned to that term in Section 3.02(d). 
 “Plan” means an
“employee benefit plan” as defined in Section 3(3) of ERISA that is subject to Title IV of ERISA or is subject to Section 412 of the Code, other than a Multiemployer Plan, which is maintained, sponsored or contributed to, by the
Company or any of its ERISA Affiliates. 
 “Property” means any right or interest in or to assets or property of any
kind whatsoever, whether real, personal or mixed and whether tangible or intangible. 
 “Purchase Agreement” means
that certain Bond Purchase Agreement, to be dated as of November 29, 2011, between the Company and the Initial Bondholders. 
 “Rate Base Assets” means assets of the Company which are included in the FERC’s determination of the Company’s revenue requirement under the OATT. 

“Reputable Insurer” means any financially sound and responsible insurance provider permitted to do business in the State of
Michigan rated “A” or better by A.M. Best Company (or if such ratings cease to be published generally for the insurance industry, meeting comparable financial standards then applicable to the insurance industry). 

  
 10 

 “Responsible Officer”, when used with respect to the Company, means any Senior
Financial Officer or any vice president of the Company or Holdco and any other officer of the Company or Holdco with responsibility for the administration of the relevant Financing Agreement, or portion thereof. 

“S&P” means Standard & Poor’s Ratings Services, a division of the McGraw-Hill Companies, Inc., or any
successor thereto. 
 “Senior Financial Officer” means the chief financial officer, principal accounting officer,
treasurer, comptroller or any vice president of Holdco. 
 “Senior Secured Debt” means (i) the Bonds,
(ii) the 6.150% First Mortgage Bonds, Series A due 2038 issued pursuant to the Indenture, (iii) the 7.12% First Mortgage Bonds, Series B due 2017 issued pursuant to the Indenture, (iv) the 7.27% First Mortgage Bonds, Series C due 2020
issued pursuant to the Indenture, (v) the 4.60% First Mortgage Bonds, Series D due 2024 issued pursuant to the Indenture, (vi) other Securities Outstanding issued pursuant to the Indenture and (vii) Permitted Additional Senior Secured
Debt. 
 “Sixth Supplemental Indenture” has the meaning assigned to that term in the introductory paragraph hereof.

 “Subordinated Debt” means unsecured Debt of the Company fully subordinated in right of payment to the Bonds and
other Senior Secured Debt substantially on the terms set forth in Exhibit B attached hereto. 
 “Synthetic
Leases” means any synthetic lease, tax retention operating lease, off-balance sheet loan or similar off-balance sheet financing product, where such transaction is considered debt for borrowed money for tax purposes but is classified as an
operating lease in accordance with GAAP. 
 “Total Loss” means (a) a permanent, total loss of a substantial
portion of the Transmission System as a result of any event which causes all or a Material portion of the Transmission System to be damaged, destroyed or rendered unfit for normal use for any reason whatsoever or (b) a substantial portion of
the Transmission System is condemned, nationalized, seized, compulsorily acquired or otherwise expropriated by any Governmental Authority under power of eminent domain or otherwise. 

“Total Secured Amount” shall have the meaning assigned to that term in Section 5.10. 

“Transmission Documents” shall have the meaning assigned to such term in the Purchase Agreement. 

“Transmission System” means the transmission lines and towers; substations; switching stations and substations; circuit
breakers; and all such other necessary facilities used for providing transmission service; in each case, owned by the Company. 

  
 11 

 ARTICLE TWO 
 TITLE, FORM AND TERMS AND CONDITIONS OF THE BONDS 
 Section 2.01.
The Bonds. 
 (a) The Securities of this series to be issued under the Mortgage Indenture pursuant to this
Sixth Supplemental Indenture shall be designated as “3.50% First Mortgage Bonds, Series E due 2027” (the “Bonds”) and shall be Securities issued under the Mortgage Indenture. 

(b) The Trustee shall authenticate and deliver the Bonds for original issue on the Closing Date in the aggregate principal
amount of $100,000,000, upon a Company Order for the authentication and delivery thereof pursuant to Section 4.01 of the Mortgage Indenture. 
 (c) Interest on the Bonds shall be payable to the Persons in whose names such Bonds are registered at the close of business on the Regular Record Date for such interest (as specified in subsection
(v) below), except as otherwise expressly provided in the form of such Bonds attached hereto as Exhibit C. 
 (d) The Bonds shall mature and the principal thereof shall be due and payable together with all accrued and unpaid interest thereon on January 19, 2027. 

(e) The Bonds shall bear interest at the rate of 3.50% per annum; provided that, to the extent permitted by
law, any overdue payment (including any overdue prepayment) of principal, any overdue payment of interest and any overdue payment of any Make-Whole Amount shall bear interest at a rate per annum from time to time equal to the greater of
(x) 5.50% and (y) 2.0% over the rate of interest publicly announced by JPMorgan Chase Bank, N.A. from time to time in New York, New York as its “base” or “prime” rate. Interest shall accrue on the Bonds from the Closing
Date, or the most recent date to which interest has been paid or duly provided for. The Interest Payment Dates for the Bonds shall be June 30 and December 31 in each year, commencing June 30, 2012, and the Regular Record Dates with
respect to the Interest Payment Dates for the Bonds shall be the 15th calendar day preceding each Interest Payment Date (whether or not a Business Day); provided, however that interest payable at Maturity will be payable to the Bondholder to
whom principal is payable. 
 (f) Subject to Section 2.02, the office or agency of the Trustee in New York,
New York, which as of the date hereof is located at c/o The Bank of New York Mellon, Trust Services Window, 101 Barclay Street, New York, New York 10286, shall be the place at which the principal of and Make-Whole Amount, if any, and interest on the
Bonds shall be payable. The office or agency of the Trustee in New York, New York, which as of the date hereof is located at c/o The Bank of New York Mellon, Trust Services Window, 101 Barclay Street, New York, New York 10286, shall be the place at
which registration of transfer of the Bonds may be effected; and The Bank of New York, N.A. shall be the Security Registrar and the Paying Agent for the Bonds; provided, however, that the Company reserves the right to designate, by one or
more Officer’s Certificates, its principal office in Novi, Michigan as any such place or itself as the Security Registrar; provided, however, that there shall be only a single Security Registrar for the Bonds. 

(g) The Bonds shall be issuable in registered form in denominations of at least $250,000 or any integral multiple thereof.

  
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 (h) All payments of the principal of and Make-Whole Amount, if any, and
interest on the Bonds shall be made in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts. 

(i) The Bonds shall not be defeasible pursuant to Sections 9.04(b) or (c) of the Indenture and such Sections of the
Indenture shall not apply to the Bonds. 
 (j) The Bonds shall have such other terms and provisions as are
provided in the form thereof attached hereto as Exhibit C, and shall be issued in substantially such form. 

Section 2.02. Payment on the Bonds. 
 (a) Subject to Section 2.02(b), payments of principal, Make-Whole Amount, if any, and interest becoming due and payable on the Bonds shall be made at the Place of Payment designated in
Section 2.01(f) or such place as the Company may at any time, by notice, specify to each Bondholder, so long as such Place of Payment shall be either the principal office of the Company or the principal office of a bank or trust company in New
York, New York. 
 (b) So long as any Initial Bondholder or its nominee shall be a Bondholder, and notwithstanding anything
contained in the Indenture, Section 2.02(a) or in such Bond to the contrary, the Company will pay all sums becoming due on such Bond for principal, Make-Whole Amount, if any, and interest by the method and at the address specified for such
purpose below such Initial Bondholder’s name in Schedule A to the Purchase Agreement, or by such other method or at such other address as such Initial Bondholder shall have from time to time specified to the Company and the Trustee in writing
for such purpose in accordance with the Purchase Agreement, without the presentation or surrender of such Bond or the making of any notation thereon, except that concurrently with or reasonably promptly after payment or redemption in full of any
Bond, such Initial Bondholder shall surrender such Bond for cancellation to the Company at its principal office or at the Place of Payment most recently designated by the Company pursuant to Section 2.02(a). Prior to any sale or other
disposition of any Bond held by such Initial Bondholder or its nominee such Initial Bondholder will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon or surrender
such Bond to the Company in exchange for a new Bond or Bonds pursuant to Section 3.05 of the Indenture; provided, that a transfer by endorsement shall not constitute a registration of transfer for purposes of the Indenture and the
Trustee and any agent of the Trustee shall be entitled to the protections of Section 3.08 of the Indenture with respect to any Bond, the transfer of which has not been so registered. The Company will afford the benefits of this
Section 2.02(b) to any Institutional Investor that is the direct or indirect transferee of any Bond purchased by such Initial Bondholder under the Indenture. The Company agrees and acknowledges that the Trustee shall not be liable for any
Bondholder’s failure to perform its obligations under this Section 2.02(b). Each Initial Bondholder and any such Institutional Investor by its purchase of its Bond agrees to indemnify the Trustee for, and to hold it harmless against, any
loss, liability or expense incurred without negligence, willful misconduct or bad faith on its part, arising out of or in connection with such Bondholder’s or Institutional Investor’s failure to comply with the provisions of this
Section 2.02(b), including the costs and expenses of defending itself against any claim or liability in connection therewith, such indemnity to survive the payment of such Bonds and the resignation or removal of the Trustee. 

(c) Notwithstanding anything to the contrary in Section 1.18 of the Mortgage Indenture, if the Stated Maturity or any Redemption
Date of the Bonds shall not be a Business Day at any Place of Payment, then (notwithstanding any other provision of the Mortgage Indenture or this Sixth Supplemental Indenture) payment of interest on or principal (and premium, if any) of the Bonds
due at the Stated Maturity or on any Redemption Date thereof need not be made at such Place of Payment on such 

  
 13 

 
date, but may be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if made on the Stated Maturity or on any Redemption Date thereof, provided
that interest shall accrue on the outstanding principal amount of the Bonds due at the Stated Maturity or on any Redemption Date thereof at the rate set forth in the Bonds until the date of actual payment. 

Section 2.03. Mandatory Redemption of the Bonds. 
 Pursuant to Section 5.01 of the Mortgage Indenture, in the event that any one or more Dispositions during any consecutive 12-month period (except Dispositions permitted under Section 3.02(b)(i)
or (ii)) yield Net Proceeds in excess of 10% of the Fair Value of the Mortgaged Property as of the last day of the fiscal quarter of the Company most recently ended, in the aggregate, the Net Proceeds of such Disposition or Dispositions shall be
used for the mandatory redemption of the Bonds, and/or the redemption or prepayment of other Senior Secured Debt in accordance with its terms, on a date which is no more than nine months following a Disposition that, when aggregated with any other
Dispositions, requires compliance with this Section 2.03 unless (x) during the nine month period immediately preceding the date of such Disposition, the Company Invested in any Rate Base Assets in which case an amount of such Net Proceeds
equal to the excess, if any, of (A) the total aggregate amount of all such Investments made during such preceding nine month period (excluding, however, the amount of any Investments made pursuant to clause (b) of the definition of
“Investment” that were not expended for Rate Base Assets during such nine month period) over (B) the aggregate amount of Debt incurred by the Company (which, with respect to any Debt incurred under any permitted credit facility of a
revolving nature, shall be calculated on a net basis after taking into account any borrowings, prepayments, repayments, reborrowings or other extensions of credit made by or in favor of the Company thereunder), in each case, during such preceding
nine month period, need not be applied to such redemption or prepayment, as the case may be, or (y) during the nine month period following the date of such Disposition, the Company shall Invest in Rate Base Assets, in which case an amount of
such Net Proceeds so Invested during such following nine month period need not be applied to such redemption or prepayment, as the case may be; provided, however, that in the event that any such amounts referred to in this clause
(y) Invested pursuant to clause (b) of the definition of “Investment” are not expended for Rate Base Assets within a period of six months from the end of such following nine month period, any such amounts not so expended shall be
used for the mandatory redemption of the Bonds, and/or the redemption or prepayment of other Senior Secured Debt in accordance with its terms, on a date not later than the last day of such six month period. Any redemption of the Bonds pursuant to
this Section 2.03 shall be made (i) at a Redemption Price equal to the principal amount of the Bonds being redeemed and shall be accompanied by payment of accrued and unpaid interest on the principal amount of the Bonds so redeemed to the
redemption date and a Make-Whole Amount and (ii) in accordance with the procedures for optional redemption set forth in Section 2.04(b) below. Notwithstanding anything to the contrary in this Section 2.03, any amounts utilized
pursuant to clauses (x) or (y) above to reduce the amount of Net Proceeds required to be applied to redemption of the Bonds and/or redemption or prepayment of other Senior Secured Debt in accordance with its terms may be utilized no more
than once with respect to the Net Proceeds of any one or more Dispositions occurring in any consecutive twelve month period. 

Section 2.04. Optional Redemption. 
 (a) Pursuant to Section 5.01 of the Mortgage Indenture, the Bonds may be redeemed at the option of Company, in whole or in part, at any time or from time to time at a Redemption Price equal to the
principal amount of such Bonds plus the Make-Whole Amount plus accrued and unpaid interest thereon to the redemption date; provided, however, that if the Bonds are redeemed in part, the Bonds shall not be redeemed in an amount less than
$5,000,000 of the aggregate principal amount of the Bonds then Outstanding. 

  
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 (b) Notwithstanding anything to the contrary in Article V of the Mortgage Indenture, the
redemption of the Bonds shall take place in accordance with the procedures and requirements set forth in this Section 2.04(b), without prejudice to the requirements of Section 5.02 (which shall for purposes of this Sixth Supplemental
Indenture also be applicable to a redemption under Section 2.03) and Sections 5.05 and 5.06 of the Mortgage Indenture. The Company (or the Security Registrar, if so requested pursuant to Section 5.04 of the Mortgage Indenture) shall give
each Bondholder written notice of each optional redemption under this Section 2.04, or a mandatory redemption under Section 2.03, as the case may be, not less than 30 days and not more than 60 days prior to the date fixed for such
redemption. Each such notice shall specify such date, the aggregate principal amount of the Bonds to be redeemed on such date, the principal amount of each Bond held by such Bondholder to be redeemed (determined in accordance with
Section 2.04(c)) and the interest to be paid on the redemption date with respect to such principal amount being redeemed, and shall be accompanied by a certificate of a Senior Financial Officer as to the estimated Make-Whole Amount due in
connection with such redemption (calculated as if the date of such notice were the date of the redemption), setting forth the details of such computation. Two Business Days prior to such redemption, the Company shall deliver to each Bondholder and
the Trustee a certificate of a Senior Financial Officer specifying the calculation of such Make-Whole Amount as of the specified redemption date. The Trustee shall have no responsibility for such calculation. Each notice of redemption shall be
irrevocable and unconditional and the principal amount of each Bond to be redeemed shall mature and become due and payable on the date fixed for such redemption (which shall be a Business Day), together with interest on such principal amount accrued
to such date and the applicable Make-Whole Amount. From and after such date, unless the Company shall fail to pay such principal amount when so due and payable, together with the interest and Make-Whole Amount, if any, as aforesaid, interest on such
principal amount shall cease to accrue. Any Bond redeemed in full shall be surrendered (as contemplated by Section 2.02(b)) to the Company and cancelled and shall not be reissued, and no Bond shall be issued in lieu of any redeemed principal
amount of any Bond. 
 (c) Notwithstanding anything to the contrary in Article V of the Mortgage Indenture, in the case of each
partial redemption of the Bonds pursuant to Section 2.04(b), the Company shall redeem the same percentage of the unpaid principal amount of the Bonds, and the principal amount of the Bonds so to be redeemed shall be allocated by the Trustee
among all of the Bonds at the time Outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof not theretofor called for redemption. 

Section 2.05. Purchase of Bonds. 
 Except as may be agreed to by a Bondholder or Bondholders in connection with an offer made to all Bondholders on the same terms and conditions, the Company shall not and shall not permit any Affiliate to
purchase, redeem or otherwise acquire, directly or indirectly, any of the Outstanding Bonds except upon the payment or redemption of the Bonds in accordance with the terms of the Indenture. The Company will promptly cause the Trustee to cancel all
Bonds acquired by it or any Affiliate pursuant to any payment, redemption or purchase of Bonds pursuant to any provision of the Indenture and no Bonds may be issued in substitution or exchange for any such Bonds. 

Section 2.06. Payment upon Event of Default. 
 Upon any Bonds becoming due and payable under Section 10.02 of the Indenture, whether automatically or by declaration, such Bonds will forthwith mature and the entire unpaid principal amount of such
Bonds, plus (x) all accrued and unpaid interest thereon (including, without limitation, interest accrued thereon at the applicable rate for overdue payments) and (y) the Make-Whole Amount determined in respect of such principal amount (to
the full extent permitted by applicable Law), shall all be immediately due and payable, in each and every case without presentment, demand, protest or further 

  
 15 

 
notice, all of which are hereby waived. The Company acknowledges that each holder of a Bond has the right to maintain its investment in the Bonds free from repayment by the Company (except as
herein specifically provided for) and that the provision for payment of a Make-Whole Amount by the Company in the event that the Bonds have become due and payable under Section 10.02 of the Indenture, whether automatically or by declaration, as
a result of an Event of Default, is intended to provide compensation for the deprivation of such right under such circumstances. 
 Section 2.07. Transfers. 
 In registering the transfer of any Bond in
accordance with Section 3.05 of the Mortgage Indenture, the Security Registrar and the Trustee shall have no responsibility to monitor securities law compliance in connection with any such transfer. 

ARTICLE THREE 
 ADDITIONAL COVENANTS 
 Section 3.01. Affirmative Covenants of the
Company. 
 For purposes of the Bonds, pursuant to Section 3.01(u) of the Mortgage Indenture, Article VI of the Mortgage
Indenture is hereby supplemented by incorporating therein the following additional affirmative covenants which the Company shall observe solely for the benefit of the Bondholders for so long as any Bond is Outstanding: 

(a) Use of Proceeds. The Company shall apply the net proceeds from the issuance and sale of the Bonds to (i) refinance
existing indebtedness, partially fund capital expenditures or for general corporate purposes, and (ii) pay reasonable fees and expenses associated with the sale of the Bonds. 

(b) Compliance with Laws and Regulations. The Company shall comply with all Laws (including Environmental Laws) to which its
Property or assets may be subject, except where failure to comply would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. In addition, the Company shall immediately pay or cause to be paid when due
all costs and expenses incurred in such compliance, except to the extent that the same is being contested in good faith by the Company through appropriate means under circumstances where none of the Mortgaged Property or the Liens thereon will be
endangered. 
 (c) Permits; Approvals. The Company shall obtain in a timely manner and maintain all Governmental
Approvals which are necessary or desirable for the ownership or operation of its Property or the conduct of its business as so conducted, except where failure to obtain or maintain such Governmental Approvals would not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect. 
 (d) Real Estate Filings. To the extent that any
filing required to perfect any security interest in real property or fixtures constituting Mortgaged Property is not made on or prior to the Closing Date, the Company shall undertake to present all such documents for filing with the appropriate
registers of deeds as soon as practicable after the Closing Date, but in no event shall any such presentation for filing take place more than five (5) Business Days after the Closing Date; provided that the Company shall confirm by an
Officer’s Certificate delivered to the Trustee within six (6) weeks after the Closing Date that each such document has been recorded with the applicable registers of deeds and the security

  
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interests created or purported to be created in real property or fixtures by such documents have been fully perfected by recording in the land records. 

(e) Delivery of Opinions of Counsel. The Company shall deliver, or cause to be delivered, to the Trustee the opinions of counsel
required pursuant to Section 4.4(a) of the Purchase Agreement. 
 (f) Continuance of Rating of the Bonds. The
Company shall ensure that at all times at least one NRSRO maintains a rating on the Company’s 6.150% First Mortgage Bonds, Series A due 2038 issued pursuant to the Indenture. 

(g) Maintenance and Renewal. 
 (i) The Company will expend during each calendar year, and certify to the Trustee in an Officer’s Certificate, an amount not less than 2.00% of the average amount of depreciable property of the
Company at the beginning and at the end of such calendar year for one or more of the following purposes: 
  

	 	(A)	capital expenditures for the maintenance and repair of the utility properties of the Company subject to the Lien of the Indenture; 

 

	 	(B)	the construction or acquisition of Property Additions on which the Indenture is a first Lien, subject only to Permitted Liens and Prepaid Liens; or

  

	 	(C)	the retirement, through purchase, payment or redemption, of Securities issued under and secured by the Indenture (including any future supplemental indenture pursuant
to the Mortgage Indenture). 

 (ii) The term “amount of depreciable property” shall mean as of any date
the amount of Property Additions included at such date on the books of the Company which is depreciable, as determined in accordance with GAAP. The average of the amount of depreciable property shall mean the arithmetical average of the amount of
depreciable property at the beginning, and the amount thereof at the end, of such calendar year. Partial years shall be prorated. If, in any calendar year, the required expenditures for the foregoing purposes are not made, the Company shall deposit
with the Trustee on or before the first day of February next succeeding the close of such calendar year a sum in cash to the extent of any deficiency, after deducting (subject to the terms of the Indenture) any eligible credit for unused excess
expenditures previously made for such purposes. Such cash may be applied to the redemption at the applicable Redemption Price, or to the repurchase, of Securities, or may be withdrawn to the extent of 100% of Property Additions. 

(iii) Excess expenditures in any calendar year may be used to comply with the requirements of any subsequent year or years and Property
Additions may be certified to comply with the provisions of clause (i)(B) above; provided, that Property Additions so used, and Securities retired through expenditures so used, cannot be used for other purposes under this Sixth Supplemental
Indenture; provided, further that, (i) no Retired Securities or expenditures for Funded Property which shall have been made the basis for authentication of Securities or the release of Mortgaged Property or the withdrawal of deposited
cash or Securities or any other amounts under any other provision of the Indenture, or which shall have been made out of any insurance moneys or moneys received from the condemnation, sale or other disposition of any of the Company’s property
subject to the Lien of the Indenture, or which shall have previously been used or applied or certified to the Trustee to comply with this Section 3.01(g) or any other provision of the Indenture and (ii) no retirement of Securities which
shall 

  
 17 

 
have been made with moneys applied to such purpose pursuant to any provision of this Section 3.01(g) or of Section 4.04 or 8.06 of the Mortgage Indenture, shall be certified or used or
applied for the purpose of complying with this Section 3.01(g) or withdrawing any moneys paid to the Trustee pursuant to this Section 3.01(g). This Section 3.01(g) shall not require the annual retirement by the Company of any specific
amount of Outstanding Securities. 
 (iv) On or before the first day of February of each year beginning February 1, 2012,
the Company shall deliver to the Trustee an Officer’s Certificate showing in reasonable detail: (1) the Company’s expenditures pursuant to each of clause (i) above, or otherwise deposited with the Trustee pursuant to this
Section 3.01(g), (2) any eligible credit for excess expenditures from prior periods and the extent to which the Company elects to have such excess applied to the period next preceding delivery of such Officer’s Certificate, and
(3) the amount of cash the Company is depositing with the Trustee concurrently with the delivery of such Officer’s Certificate to comply with the requirements of this Section 3.01(g). Such Officer’s Certificate shall also state
that it complies with the requirements of this Section 3.01(g). 
 (v) At the option of the Company, any moneys paid to and
held by the Trustee under the provisions of subclause (ii) of this Section shall, upon the written request of the Company pursuant to an Officer’s Certificate, (1) be applied by the Trustee to the purchase in the open market of
Securities of any series permitted to be so purchased, at prices not exceeding the then applicable Redemption Price, if any, at which Securities of said series may then be redeemed or (2) be paid to or upon the order of the Company to the
extent of (A) the principal amount of Securities of said series purchased or paid by the Company and delivered to the Trustee, cancelled or for cancellation and (B) the accrued interest and the premium, if any, theretofore paid to the
Trustee, as hereinabove provided, on such principal amount of Securities. The Company hereby covenants and agrees that it will pay to the Trustee from time to time in cash such additional sums, if any, as shall be paid or required to be paid by the
Trustee as or for accrued interest and premium, if any, in respect of any Securities purchased or redeemed pursuant to the provisions of this Section. 
 (vi) Any and all Securities, the retirement (through payment or purchase) of which shall be certified to the Trustee in compliance with the provisions of this 3.01(g), shall be delivered to the Trustee at
or before the time the same shall be so certified and shall thereupon be cancelled and destroyed by the Trustee, unless theretofore cancelled and destroyed. All other Securities received by the Trustee pursuant to any provision of this 3.01(g) shall
thereupon be cancelled and destroyed by the Trustee. 
 Section 3.02. Negative Covenants of the Company.

 For purposes of the Bonds, pursuant to Section 3.01(u) of the Mortgage Indenture, Article VI of the Mortgage Indenture is
hereby supplemented by incorporating therein the following negative covenants which the Company shall observe solely for the benefit of the Bondholders for so long as any Bond is Outstanding: 

(a) Restrictions on the Establishment of Subsidiaries. The Company shall not create, acquire or suffer to exist, directly or
indirectly, any Subsidiaries or acquire or invest in any other Capital Stock in any Person. 
 (b) Limitations on Asset
Sales. The Company shall not Dispose of all or any substantial part of its assets during any fiscal year, other than: 
 (i) Subject to compliance with Article VIII of the Mortgage Indenture, Dispositions in the ordinary course of business of obsolete or worn out Property and real estate

  
 18 

 
interests not needed for the Company for its Transmission System or for the conduct of its business; 
 (ii) Dispositions of assets that would be permitted under Article XIII of the Mortgage Indenture; or 
 (iii) Subject to compliance with Article VIII of the Mortgage Indenture, any other Disposition of assets; provided, that in the event the Net Proceeds of all such Dispositions during any
consecutive 12-month period are in excess of 10% of the Fair Value of the Mortgaged Property as of the last day of the fiscal quarter of the Company most recently ended, in the aggregate, such Net Proceeds shall be applied in accordance with the
terms and conditions of Section 2.03. 
 (c) Hedging Agreements. The Company shall not, at any time, enter into
(i) any Hedging Agreement for speculative purposes or (ii) any Hedging Agreement if the obligations of the Company relating thereto would not be reflected in the calculation of the Company’s revenue requirement to be collected under
the OATT. 
 (d) Limitations on Liens. The Company shall not create, incur, assume or suffer to exist any Lien upon any
of the Company’s Property, whether now owned or hereafter acquired, other than Permitted Liens; provided that, the Company shall not create, incur, assume or suffer to exist any Lien securing indebtedness under the Revolving Credit
Agreement under clause (v) of the definition of Permitted Liens unless the Securities are secured on a equal and ratable basis pursuant to documentation reasonably satisfactory to the Trustee (and the Trustee shall be entitled to receive an
Opinion of Counsel to evidence the satisfaction of such condition) (any such secured indebtedness, “Permitted Additional Senior Secured Debt”). 
 (e) Limitation on Lines of Business. As of the Closing Date, the Company is in the business of owning transmission facilities and providing transmission service over such facilities. From the
Closing Date onward, the Company shall not engage in any business, if as a result, the general nature of the business engaged in by the Company taken as a whole would be substantially changed from the general nature of the business the Company is
engaged in on the Closing Date. 
 (f) Limitation on Transactions with Affiliates. The Company shall not enter into any
Material transaction with any Affiliate, except (i) in the ordinary course of business and (ii) on terms and conditions (A) no less favorable than would be obtainable in a comparable arms-length transaction negotiated in good faith
with a Person that is not an Affiliate and (B) consistent with applicable FERC policy regarding Affiliate transactions. 

(g) Limitation on Sale-Lease and Lease-Lease Back Transactions. The Company shall not enter into any sale-leaseback or
lease-leaseback transaction involving any of its Properties whether now owned or hereafter acquired, whereby the Company sells, otherwise transfers or leases such Properties and then or thereafter leases or subleases such Properties or any part
thereof or any other Properties which the Company intends to use for substantially the same purpose or purposes as the Properties sold, otherwise transferred or leased. 
 (h) Amendments to Exhibit B Hereto. The Company shall not make any amendments or changes to the subordination terms and conditions set forth in Exhibit B hereto that adversely affect the
Bondholders without the prior consent of the Bondholders of all the Outstanding Bonds. 

  
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 ARTICLE FOUR 
 ADDITIONAL EVENTS OF DEFAULT; REMEDIES 
 Section 4.01. Events of
Default. 
 For purposes of the Bonds, pursuant to Section 3.01(u) of the Mortgage Indenture, Section 10.01 of the
Mortgage Indenture shall be supplemented to include as “Events of Default” thereunder the occurrence of any of the following events (each such event, together with those “Events of Default” in Section 10.01 of the Mortgage
Indenture, an “Event of Default”): 
 (a) Interest Payments. The Company shall fail to pay interest, if any, on
any Security within five (5) days after the same becomes due and payable; 
 (b) Material Covenants. The Company
shall fail to perform or observe any covenant set forth in Section 3.02 or its obligation to provide notice to the Bondholders under Section 7.1(c) of the Purchase Agreement and such failure is not cured within ten (10) days;

 (c) Other Covenants. The Company shall fail to perform or observe any of its obligations or covenants (other than the
covenants described in Section 4.01(a) or Section 4.01(b) or in Section 10.01(b) of the Mortgage Indenture) contained in any of the Financing Agreements, including Section 7 of the Purchase Agreement (or in any modification or
supplement thereto), and such failure is not cured within 30 days after the earlier to occur of (i) a Responsible Officer of the Company obtaining actual knowledge of such failure and (ii) the Company receiving notice of such failure from
the Trustee or any Bondholder in accordance with the terms of the Mortgage Indenture or the Purchase Agreement; 
 (d)
Representations. Any representation, warranty or certification by the Company in any of the Financing Agreements or in any certificate furnished to the Trustee or any Bondholder pursuant to the provisions of this Sixth Supplemental Indenture
or any other Financing Agreement shall prove to have been false in any Material respect as of the time made or furnished, as the case may be; 
 (e) Debt. 
 (i) The Company shall be in default in the
payment of any principal, premium, including any make-whole amount, if any, or interest on any Debt (other than Subordinated Debt) in the aggregate principal amount of $10,000,000 or more beyond the expiration of any applicable grace or cure period
relating thereto; 
 (ii) The Company shall be in default in the performance or compliance with any term (other
than those referred to in Section 4.01(e)(i)) of any agreement or instrument evidencing any Debt (other than Subordinated Debt) in the aggregate principal amount of $10,000,000 or more or any other document relating thereto or any condition
exists and, as a consequence, such Debt has become or has been declared (or the holder or beneficiary of such Debt or a trustee or agent on behalf of such holder or beneficiary is entitled to declare such Debt to be) due and payable before its
stated maturity or before its regularly scheduled dates of payment; or 
 (iii) As a consequence of the
occurrence or continuation of any event or condition (other than the passage of time or the right of the holder of Debt to convert such Debt into equity interests), other than as provided in Section 2.03 or Section 2.04 or
Section 5.01 of the Mortgage Indenture, (x) the Company shall have become obligated to purchase or repay any Debt 

  
 20 

 
before its regularly scheduled maturity date in the aggregate principal amount of $10,000,000 or more or (y) one or more Persons have the right to require such Debt to be purchased or
repaid; 
 (f) Judgments. Any judgment or judgments for the payment of money in excess of $10,000,000 (or its equivalent
in any other currency) in the aggregate by the Company, which is, or are, not covered by insurance, shall be rendered by one or more courts, administrative tribunals or other bodies having jurisdiction over the Company and the same shall not be
discharged (or provision shall not be made for such discharge), bonded or a stay of execution thereof shall not be procured, within 60 days from the date of entry thereof and the Company shall not, within said period of 60 days, or such longer
period during which execution of the same shall have been stayed, appeal therefrom and cause the execution thereof to be stayed during such appeal; 
 (g) Transmission System. The Company shall directly or indirectly terminate transmission service over all or a significant portion of the Transmission System or cease to pursue the operation of the
Transmission System for a period in excess of 30 days; 
 (h) Transmission Documents. Any Material Transmission Document
shall have been terminated prior to its stated termination date and such termination has, or would reasonably be expected to have, a Material Adverse Effect; 
 (i) Security Interests. Subject to Section 3.01(d), the Company shall fail to perfect and maintain a valid and perfected first priority Lien in any part of the Mortgaged Property, to the
extent such perfection can be accomplished by filing; 
 (j) Repudiation. Any provision (i) of any Financing
Agreement shall be repudiated by the Company or (ii) of any Financing Agreement for any reason other than the express terms thereof cease to be enforceable and such repudiation or unenforceability shall not be remedied within 30 days;

 (k) Total Loss. There shall occur a Total Loss; 

(l) ERISA. Any ERISA Event shall have occurred and the liability of the Company and the ERISA Affiliates related to such ERISA
Event, when aggregated with all other ERISA Events (determined as of the date of occurrence of such ERISA Event), has resulted in or would reasonably be expected to result in a Material Adverse Effect; or 

(m) Holdco Ownership. Holdco either directly or indirectly shall cease to own 100% of the Capital Stock of the Company.

 Section 4.02. Acceleration of Maturity; Rescission and Annulment. 

For purposes of the Bonds, pursuant to Section 3.01(u) of the Mortgage Indenture, Section 10.02 of the Mortgage Indenture shall
be supplemented as follows: 
 (a) Acceleration of Maturity. In addition to the provisions set forth in
Section 10.02 of the Mortgage Indenture, if an Event of Default arising from the failure to pay principal of, or interest on, or any Make-Whole Amount relating to the Bonds shall have occurred and be continuing, then in every such case each
Holder of Bonds may declare the principal amount of the Bonds held by it to be due and payable immediately, by a notice in writing to the Company and to the Trustee, and upon receipt by the Company or the Trustee of such notice of such declaration,
such principal amount, together with Make-Whole Amount and accrued interest, if any, thereon (including, without limitation, interest accrued thereon at the applicable rate for overdue payments), shall become immediately due and payable. 

  
 21 

 (b) Rescission and Annulment. In addition to the conditions for the rescission and
annulment of any Event of Default set forth in the second paragraph of Section 10.02 of the Mortgage Indenture, no such Event of Default shall be deemed to have been rescinded and annulled with respect to the Bonds unless the Holders of not
less than a majority in aggregate principal amount of the Bonds then Outstanding, by Act of said Holders delivered to the Company and the Trustee, consent to such rescission and annulment. 

ARTICLE FIVE 
 MISCELLANEOUS PROVISIONS 
 Section 5.01. Execution of Sixth
Supplemental Indenture. 
 Except as expressly amended and supplemented hereby, the Mortgage Indenture shall continue in full
force and effect in accordance with the provisions thereof and the Mortgage Indenture is in all respects hereby ratified and confirmed. This Sixth Supplemental Indenture and all of its provisions shall be deemed a part of the Mortgage Indenture in
the manner and to the extent herein and therein provided. The Bonds executed, authenticated and delivered under this Sixth Supplemental Indenture constitute a series of Securities and shall not be considered to be a part of a series of securities
executed, authenticated and delivered under any other supplemental indenture entered into pursuant to the Mortgage Indenture. 

Section 5.02. Effect of Headings. 
 The Article and Section headings herein are for convenience only and shall not affect the construction hereof. 
 Section 5.03. Successors and Assigns. 
 All covenants and agreements in
this Sixth Supplemental Indenture by the Company shall bind its successors and assigns, whether so expressed or not. 

Section 5.04. Severability Clause. 
 In case any provision in this Sixth Supplemental Indenture or in the Bonds shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby. 
 Section 5.05. Benefit of Sixth Supplemental Indenture. 

Except as otherwise provided in the Mortgage Indenture, nothing in this Sixth Supplemental Indenture or in the Bonds, express or implied,
shall give to any person, other than the parties hereto and their successors hereunder and the Bondholders, any benefit or any legal or equitable right, remedy or claim under this Sixth Supplemental Indenture. 

Section 5.06. Execution and Counterparts. 
 This Sixth Supplemental Indenture may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute but one and the same
instrument. 

  
 22 

 Section 5.07. Conflict with Mortgage Indenture. 

If any provision hereof limits, qualifies or conflicts with another provision of the Mortgage Indenture, such provision of this Sixth
Supplemental Indenture shall control, insofar as the rights between the Company and the Bondholders are concerned. 

Section 5.08. Recitals. 
 The recitals contained herein shall be taken as the statements of the Company, and the Trustee assumes no responsibility for their correctness and makes no representations as to the validity or
sufficiency of this Sixth Supplemental Indenture. 
 Section 5.09. Governing Law. 

This Sixth Supplemental Indenture shall be governed by and construed in accordance with the law of the State of New York, except that
(i) if this Sixth Supplemental Indenture shall become qualified and shall become subject to the Trust Indenture Act, to the extent that the Trust Indenture Act shall be applicable, this Sixth Supplemental Indenture shall be governed by and
construed in accordance with the Trust Indenture Act and (ii) if the law of any jurisdiction wherein any portion of the Mortgaged Property is located shall govern the creation of a mortgage lien on and security interest in, or perfection,
priority or enforcement of the Lien of the Indenture or exercise of remedies with respect to, such portion of the Mortgaged Property, this Sixth Supplemental Indenture shall be governed by and construed in accordance with the law of such
jurisdiction to the extent mandatory. 
 Section 5.10. Future Advances Secured. 

(a) Illinois Provisions. The Company acknowledges and agrees and intends that all advances made to it pursuant to issuances
hereunder of the Securities, including all future issuances and advances related thereto whenever hereafter made, in an amount up to $100,000,000, together with the amount of all prior advances pursuant to Securities issuances heretofore made
pursuant to the Mortgage Indenture, the First Supplemental Indenture, the Second Supplemental Indenture, the Third Supplemental Indenture, the Fourth Supplemental Indenture and the Fifth Supplemental Indenture, for a combined total principal amount
of $425,000,000 plus interest thereon, and all fees, expenses and indemnities owing in respect of the Securities and the Financing Agreements, and all disbursements made by or on behalf of the Trustee for payment of taxes, levies,
insurance or maintenance on the Mortgaged Property, with interest on such disbursements (the sum of all such Outstanding Securities, interest, fees, expenses, indemnities and disbursements is referred to as the “Total Secured Amount”),
shall be a lien in the Total Secured Amount from the time this Sixth Supplemental Indenture is recorded, as provided in 765 ILCS 5/39, et seq. for all amounts advanced prior to the date hereof and thereafter for the period of eighteen
(18) months after the date of recordation of this Sixth Supplemental Indenture, except as amended hereby (in this Sixth Supplemental Indenture), the Mortgage Indenture, as previously amended, is hereby restated, adopted, ratified and confirmed.

 (b) Minnesota Provisions. Subject to the provision of the Mortgage Indenture which provides that
notwithstanding anything to the contrary contained in the Mortgage Indenture enforcement of the Mortgage Indenture in Minnesota is limited to a debt amount of $8,220,000 under Chapter 287 of Minnesota Statutes, this Sixth Supplemental Indenture
secures credit in the amount of ONE HUNDRED MILLION DOLLARS ($100,000,000 ) together with the amount of all prior advances pursuant to Securities issuances heretofore made pursuant to the Mortgage Indenture, the First Supplemental Indenture, the
Second Supplemental Indenture, the Third Supplemental Indenture, the Fourth Supplemental Indenture and the Fifth Supplemental Indenture, for a total combined amount advanced of 

  
 23 

 
FOUR HUNDRED TWENTY-FIVE MILLION DOLLARS ($425,000,000). Loans and advances up to this amount, together with interest, are senior to indebtedness to other creditors under subsequently recorded or
filed mortgages and liens. 
 (c) Missouri Provisions. This Sixth Supplemental Indenture secures present credit in the
amount of ONE HUNDRED MILLION DOLLARS ($100,000,000 ) together with the amount of all prior advances pursuant to Securities issuances heretofore made pursuant to the Mortgage Indenture, the First Supplemental Indenture, the Second Supplemental
Indenture, the Third Supplemental Indenture, the Fourth Supplemental Indenture and the Fifth Supplemental Indenture, for a total combined amount advanced of FOUR HUNDRED TWENTY-FIVE MILLION DOLLARS ($425,000,000) together with future advances and
obligations in an amount not to exceed FOUR HUNDRED TWENTY-FIVE MILLION DOLLARS $425,000,000 for purposes of collateral located in the State of Missouri only. The future advances and future obligations secured hereby may be evidenced not only by the
Securities herein described, but also such other notes, guarantees and other documents executed and delivered by the Company to the Trustee or Bondholders subsequent to the date hereof provided that, on the face or within the body thereof,
such notes, guarantees or other documents state that they are secured by this Mortgage Indenture. Loans and advances up to this amount, together with interest, are senior to indebtedness to other creditors under subsequently recorded or filed
mortgages and liens. 

  
 24 

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

			
	ITC MIDWEST LLC
		
	By:	 	ITC Holdings Corp., as Sole Member
		
	By:	 	 /s/ Daniel J. Oginsky

	
	Name: Daniel J. Oginsky
	Title: Senior Vice President and General Counsel

 Drafted by: 
 Elizabeth B. Hardin 
 Milbank, Tweed, Hadley & McCloy LLP 

1 Chase Manhattan Plaza 
 New York, NY 10005

 After Recorded, Return to: 
 The Bank of New York Mellon Trust Company, N.A. 
 2 N. LaSalle, Suite 1020 

Chicago, Illinois 60602 
 Attention: Global
Corporate Trust 

 
			
	 THE BANK OF NEW YORK MELLON TRUST
 COMPANY, N.A., as Trustee

		
	By:	 	 /s/ Medita A. Vucic

	Name:	 	Medita A. Vucic
	Title:	 	Vice President

			
	ACKNOWLEDGMENT	 	
	    	 	
	STATE OF MICHIGAN	 	)
		 	) ss.
	COUNTY OF OAKLAND	 	)

 On the 29th day of November 2011 before me, the undersigned notary public, personally came Daniel J.
Oginsky, Senior Vice President and General Counsel of ITC Holdings Corp., a corporation organized under the laws of the State of Michigan, the sole member of ITC Midwest LLC, a limited liability company organized under the laws of the State of
Michigan, and acknowledged that he executed the foregoing instrument in his authorized capacity, and that by his signature on the instrument he, or the entity upon behalf of which he acted, executed the instrument. 

 

			
		 	 /s/ Denise Juras

		
	By:	 	Denise Juras, Notary Public
		 	Oakland County, Michigan
		 	My Commission Expires October 29, 2014
		 	Acting in the County of Oakland

			
	ACKNOWLEDGMENT	 	
	    	 	
	STATE OF ILLINOIS	 	)
		 	            ) ss.
	COUNTY OF COOK	 	)

 On the 29th day of November 2011, before me, the undersigned notary public, personally came Medita Vucic,
Vice President of The Bank of New York Mellon Trust Company, N.A., a national banking association organized under the laws of the United States, and acknowledged to me that she executed the foregoing instrument in her authorized capacity, and that
by her signature on the instrument she, or the entity upon behalf of which she acted, executed the instrument. 
  

			
		 	 /s/ T. Mosterd

		
	By:	 	T. Mosterd
		 	No.            
		 	Notary Public State of Illinois
		 	Qualified in Cook County
		 	My Commission Expires 1/22/2013

 Schedule 1 
 The recording information for the Mortgage Indenture, the First Supplemental Indenture, the Second Supplemental Indenture, the Third Supplemental Indenture, the Fourth Supplemental Indenture and the Fifth
Supplemental Indenture is as follows: 
  

															
	 	 	 	 	 	 	First Supplemental	 	Second Supplemental	 	Third Supplemental	 	Fourth Supplemental	 	Fifth Supplemental
	 County
	 	 State
	 	 Mortgage Indenture
	 	 Indenture
	 	 Indenture
	 	 Indenture
	 	 Indenture
	 	 Indenture

								
	Appanoose	 	IA	 	 Doc. 2008-124 in
 Book 2008;
Page 124
	 	 Doc. 2008-125 in
 Book 2008;
Page 125
	 	 Doc. 2008-2717 in
 Book 2008;
Page 2717
	 	 Doc. 2008-2718 in
 Book 2008;
Page 2718
	 	Doc. 2009-2237 in Book 2009, Page 2237	 	
								
	Benton	 	IA	 	Book 8; Page 291	 	Book 8; Page 292	 	Book 8; Page 5740	 	Book 8; Page 5743	 	Book 9, Page 5588	 	Box 11, Page 2657
								
	Boone	 	IA	 	 Doc. 080262 in
 Book 2008; Page
0262
	 	 Doc. 080263 in
 Book 2008; Page
0263
	 	 Doc. 085535 in
 Book 2008; Page
5535
	 	 Doc. 085536 in
 Book 2008; Page
5536
	 	Doc. 095455 in Book 2009, Page 5455	 	Doc. 112599
								
	Buchanan	 	IA	 	Doc. 2008R00212	 	Doc. 2008R00213	 	Doc. 2008R04324	 	Doc. 2008R04325	 	Instrument #2009R03990	 	Instrument #2011R02065
								
	Buena Vista	 	IA	 	Doc. 080166	 	Doc. 080167	 	Doc. 083608	 	Doc. 083609	 	Book 093848	 	
								
	Cerro Gordo	 	IA	 	Doc. 2008-391	 	Doc. 2008-392	 	Doc. 2008-8821	 	Doc. 2008-8822	 	Doc. 2009-9707	 	Doc. 2011-4841
								
	Clarke	 	IA	 	Doc. 2008-0164 in Book 175A; Page 1	 	 Doc. 2008-0165 in
 Book 175B;
Page 1
	 	 Doc. 2008-2747 in
 Book 104;
Page 168
	 	 Doc. 2008-2748 in
 Book 104;
Page 240
	 	 File No. 2009-2305, in
 Book
2009G, Page 768-851
	 	Fee Box 2011-1471
								
	Clayton	 	IA	 	Doc. 2008R00197	 	Doc. 2008R00198	 	Doc. 2008R04287	 	Doc. 2008R04288	 	Doc. 2009RO4258	 	
								
	Clinton	 	IA	 	Doc. 2008-00537	 	Doc. 2008-00538	 	Doc. 2008-09202	 	Doc. 2008-09203	 	Doc. 2009-10462	 	Doc. 2011-05291
								
	Dallas	 	IA	 	 Doc. 823 in
 Book 2008; Page
823
	 	 Doc. 824 in
 Book 2008; Page
824
	 	 Doc. 16507 in
 Book 2008; Page
16507
	 	 Doc. 16508 in
 Book 2008; Page
16508
	 	 Doc. 19465, in
 Book 2009, Page
19465
	 	
								
	Des Moines	 	IA	 	Doc. 2008-000259	 	Doc. 2008-000260	 	Doc. 2008-006411	 	Doc. 2008-006412	 	Doc. 2009-005787	 	
								
	Dickinson	 	IA	 	 Inst. 08-00303 in
 Book 358;
Page 1
	 	Inst. 08-00304 in Book 359; Page 1	 	 Inst. 08-07217 in
 Book 378;
Page 81
	 	 Inst. 08-07218 in
 Book 378;
Page 153
	 	 Instr. No. 09-07844, in
 Book
405, Page 745
	 	
								
	Dubuque	 	IA	 	 Doc. 005881650969
 File
2008-00000799
	 	 Doc. 005881660839
 File
2008-00000800
	 	 Doc. 006251360071
 File
2008-00017283
	 	 Doc. 006251370027
 File
2008-00017284
	 	File 2009-00022604, Doc ID: 006630620084	 	 File 2011-00010285,
 Doc ID:
007105460102

								
	Emmet	 	IA	 	Doc. 2008-00133	 	Doc. 2008-00134	 	Doc. 2008-02245	 	Doc. 2008-02246	 	Book 2009-02052	 	

															
	Greene	 	IA	 	 Doc. 2008-0120 in
 Book 182;
Page 1
	 	 Doc. 2008-0121 in
 Book 183;
Page 1
	 	 Doc. 2008-2215 in
 Book 186;
Page 50
	 	 Doc. 2008-2216 in
 Book 186;
Page 121
	 	Instr. 2009-1917, in Book 188, Page 832	 	Instr. 2022-1271, in Book 193, Page 2
								
	Grundy	 	IA	 	Book 2008; Page 0174	 	Book 2008; Page 0175	 	Book 2008; Page 2703	 	Book 2008; Page 2704	 	Book 2009, Page 2708	 	
								
	Hamilton	 	IA	 	Doc. 2008-151	 	Doc. 2008-152	 	Doc. 2008-3153	 	Doc. 2008-3154	 	Doc. 2009-3260	 	Doc. 2011-1650
								
	Hancock	 	IA	 	Inst. 08-0141	 	Inst. 08-0142	 	Inst. 08-2693	 	Inst. 08-2694	 	Instr. 09-2499	 	
								
	Hardin	 	IA	 	Doc. 2008-0248	 	Doc. 2008-0249	 	Doc. 2008-3898	 	Doc. 2008-3899	 	Doc. 2009-3646	 	Document 2011 1986
								
	Iowa	 	IA	 	 Doc. 2008-2278 in
 Book 840;
Page 68
	 	 Doc. 2008-2279 in
 Book 841;
Page 1
	 	 Doc. 2008-1602 in
 Book 867;
Page 177
	 	 Doc. 2008-1603 in
 Book 867;
Page 248
	 	Doc. 2009-2010, in Book 900, Page 313-396	 	
								
	Jackson	 	IA	 	 Doc. 08-244 in
 Book 2008; Page
244
	 	 Doc. 08-245 in
 Book 2008; Page
245
	 	 Doc. 08-4572 in
 Book 2008;
Page 4572
	 	 Doc. 08-4573 in
 Book 2008;
Page 4573
	 	Doc. 09-4798, in Book 2009, Page 4798	 	
								
	Jasper	 	IA	 	 Doc. 001695150969
 File
2008-00000315
	 	 Doc. 001695160839
 File
2008-00000316
	 	Doc. 001766650071 File 2008-00007158	 	Doc. 001766660027 File 2008-00007159	 	File 2009-00007455, Doc ID: 001844880084	 	
								
	Jefferson	 	IA	 	Doc. 2008-0157	 	Doc. 2008-0158	 	Doc. 2008-3103	 	Doc. 2008-3104	 	Doc. 2009-2869	 	
								
	Johnson	 	IA	 	Doc. 021063550969 in Book 4254; Page 1	 	Doc. 021063560839 in Book 4255; Page 1	 	Doc. 021339090071 in Book 4373; Page 416	 	Doc. 021339100027 in Book 4373; Page 487	 	Book 4538, Page 166-249, Doc ID: 021703810084	 	Book 4779, Page 738-839, Doc ID: 022244150101
								
	Jones	 	IA	 	Fee Book 2008-0178	 	Fee Book 2008-0179	 	Doc. 2008-3697	 	Doc. 2008-3698	 	Book 2009-4074	 	Fee Book 2011 1859
								
	Kossuth	 	IA	 	 Doc. 2008-236 in
 Book 2008;
Page 236
	 	 Doc. 2008-237 in
 Book 2008;
Page 237
	 	 Doc. 2008-4405 in
 Book 2008;
Page 4405
	 	 Doc. 2008-4406 in
 Book 2008;
Page 4406
	 	Doc. 2009-4819, in Book 2009, Page 4819	 	
								
	Lee (North)	 	IA	 	 Doc. 2008-171 in
 Book 08N;
Page 171
	 	 Doc. 2008-172 in
 Book 08N;
Page 172
	 	 Doc. 2008-4032 in
 Book 08N;
Page 4032
	 	 Doc. 2008-4033 in
 Book 08N;
Page 4033
	 	Doc. 2009-3738, in Book 09N, Page 3738	 	
								
	Lee (South)	 	IA	 	 Doc. 2008-104 in
 Book 08S;
Page 104
	 	 Doc. 2008-105 in
 Book 08S;
Page 105
	 	 Doc. 2008-2900 in
 Book 08S;
Page 2900
	 	 Doc. 2008-2901 in
 Book 08S;
Page 2901
	 	Doc. 2009-2969, in Book 09S, Page 2969	 	
								
	Linn	 	IA	 	 Doc. 012890130969 Inst. 200800039315 in
 Book 6889; Page 1
	 	 Doc. 012890140843 Inst. 200800039316 in
 Book 6890; Page 1
	 	 Doc. 013846140071
 Inst.
200900033364 in
 Book 7144; Page 338
	 	 Doc. 013846150027
 Inst.
200900033365 in
 Book 7144; Page 409
	 	Doc ID: 014657820084, in Book 7486, Page 1-84	 	Doc ID: 015780150102, in Book 8001, Page 132-233
								
	Lucas	 	IA	 	 Doc. 2008-0091 in
 Book 2008A;
Page 1
	 	 Doc. 2008-0092 in
 Book 2008B;
Page 1
	 	 Doc. 2008-1614 in
 Book G2008;
Page 409
	 	 Doc. 2008-1615 in
 Book G2008;
Page 480
	 	Inst. 2009-11529, in Book F2009, Page 549-632	 	
								
	Marshall	 	IA	 	Doc. 002901080969 File 2008-00000387	 	Doc. 002901090839 File 2008-00000388	 	Doc. 003110950071 File 2008-00007491	 	Doc. 003110960027 File 2008-00007492	 	File 2009-00007193, Doc. ID	 	File No. 2011-00003804

															
		 		 		 		 		 		 	003283170084	 	
								
	Monroe	 	IA	 	 Doc. 86 in
 Book 2008; Page
86
	 	 Doc. 87 in
 Book 2008; Page
87
	 	 Doc. 1922 in
 Book 2008; Page
1922
	 	 Doc. 1923 in
 Book 2008; Page
1923
	 	Doc. 1850, in Book 2009, Page 1850	 	
								
	Muscatine	 	IA	 	Doc. 2008-00387	 	Doc. 2008-00388	 	Doc. 2008-06927	 	Doc. 2008-06928	 	Doc. 2009-07544	 	
								
	Osceola	 	IA	 	 Doc. 20080080 in
 Book 2008;
Page 80
	 	 Doc. 20080081 in
 Book 2008;
Page 81
	 	 Doc. 20082023 in
 Book 2008;
Page 2023
	 	 Doc. 20082024 in
 Book 2008;
Page 2024
	 	Doc. 20091693 in Book 2009; Page 1693	 	
								
	Pocahontas	 	IA	 	 Doc. 2008-107 in
 Book 179;
Page 1
	 	 Doc. 2008-108 in
 Book 180;
Page 1
	 	 Doc. 2008-1924 in
 Book 186;
Page 98
	 	 Doc. 2008-1925 in
 Book 186;
Page 169
	 	Doc 2009-1736, in Book 193, Page 126-209	 	
								
	Poweshiek	 	IA	 	 Doc. 0230 in
 Book 823; Page
1
	 	 Doc. 0231 in
 Book 824; Page
1
	 	 Doc. 4014 in
 Book 0842; Page
0221
	 	 Doc. 4015 in
 Book 0842; Page
0292
	 	File No. 3948, in Book 0863, Page 0393	 	
								
	Ringgold	 	IA	 	 Inst. 2008-00000091 in
 Book
327; Page 1
	 	 Inst. 2008-00000092 in
 Book
328; Page 1
	 	 Inst. 2008-00001525 in
 Book
334; Page 64
	 	 Inst. 2008-00001526 in
 Book
334; Page 135
	 	Instr. 2009-00001424, in Book 339, Page 823	 	
								
	Story	 	IA	 	Inst. 2008-00000615	 	Inst. 2008-00000616	 	Inst. 2008-00012971	 	Inst. 2008-00012972	 	Instr. 2009-00014946	 	Instr. 2011-00006755
								
	Tama	 	IA	 	 Doc. 2008-0238 in
 Book 817;
Page 460
	 	 Doc. 2008-0239 in
 Book 820;
Page 289
	 	 Doc. 2008-3781 in
 Book 842;
Page 74
	 	 Doc. 2008-3782 in
 Book 842;
Page 145
	 	Fee Book 2009-3424, in Book 864, Page 290	 	
								
	Union	 	IA	 	 Doc. 00000140 in
 Book 911;
Page 1
	 	 Doc. 00000141 in
 Book 914;
Page 1
	 	 Doc. 00002690 in
 Book 943;
Page 1
	 	 Doc. 00002691 in
 Book 943;
Page 72
	 	Doc. 00002419, in Book 968, Page 175, Instr. 00002419	 	
								
	Van Buren	 	IA	 	 Doc. 2008-48 in
 Book 142; Page
444
	 	 Doc. 2008-49 in
 Book 143; Page
343
	 	 Doc. 2008-1474 in
 Book 148;
Page 747
	 	 Doc. 2008-1475 in
 Book 148;
Page 818
	 	Doc 2009-1496, in Book 154, Page 1	 	
								
	Wapello	 	IA	 	 Doc. 2008-0275 in
 Book 2008;
Page 0275
	 	 Doc. 2008-0276 in
 Book 2008;
Page 0276
	 	 Doc. 2008-5994 in
 Book 2008;
Page 5994
	 	 Doc. 2008-5995 in
 Book 2008;
Page 5995
	 	Doc. 2009-5649, in Book 2009, Page 5649	 	
								
	Wayne	 	IA	 	 Inst. 08-0123 in
 Book 119;
Page 670
	 	 Inst. 08-0124 in
 Book 119;
Page 1640
	 	 Inst. 08-2205 in
 Book 121;
Page 484
	 	 Inst. 08-2206 in
 Book 121;
Page 555
	 	Instr. 09-1957, in Book 122, Page 854-937	 	
								
	Worth	 	IA	 	Fee Book 20080149	 	Fee Book 20080150	 	Fee Book 20082712	 	Fee Book 20082713	 	Book 20092579	 	
								
	Adair	 	IA	 	 File 08-0110 in
 Book 586; Page
304
	 	 File 08-0111 in
 Book 589; Page
223
	 	 File 08-1956
 Book 612; Page
34
	 	 File 08-1957 in
 Book 612; Page
105
	 	File No. 09/1402, in Book 628, Page 150	 	
								
	Allamakee	 	IA	 	Doc. 2008-148	 	Doc. 2008-149	 	Doc. 2008-3187	 	Doc. 2008-3188	 	Doc. 2009-3227	 	
								
	Audubon	 	IA	 	Doc. 08-0102	 	Doc. 08-0103	 	Doc. 08-1345	 	Doc. 08-1346	 	Doc. 09-1338	 	
								
	Black Hawk	 	IA	 	Doc. 2008014573	 	Doc. 2008014576	 	Doc. 200900011582	 	Doc. 200900011583	 	File 2010-00011758,	 	

															
		 		 		 		 		 		 	Instr. 200900017846	 	
								
	Bremer	 	IA	 	Doc. 20080230	 	Doc. 20080231	 	Doc. 20085661	 	Doc. 20085662	 	Doc. 20095624	 	
								
	Butler	 	IA	 	Inst. 2008-0307	 	Inst. 2008-0308	 	Inst. 2008-5268	 	Inst. 2008-5269	 	Instrument No. 2009-4808	 	
								
	Cass	 	IA	 	Doc. 2008 115 in Book 2008; Page 115	 	Doc. 2008 116 in Book 2008; Page 116	 	Doc. 2008 2833 in Book 2008; Page 2833	 	Doc. 2008 2834 in Book 2008; Page 2834	 	Doc. 2009-2608, in Book 2009, Page 2608	 	
								
	Cedar	 	IA	 	 Doc. 2008-264 in
 Book 881;
Page 1
	 	 Doc. 2008-265 in
 Book 882;
Page 1
	 	 Doc. 2008-4393 in
 Book 924;
Page 107
	 	 Doc. 2008-4394 in
 Book 924;
Page 178
	 	Doc. 2009-4512 in Book 978, Page 1-84	 	
								
	Chickasaw	 	IA	 	Fee Book 2008-0121	 	Fee Book 2008-0122	 	Fee Book 2008-2385	 	Fee Book 2008-2386	 	Book 2009-2295	 	
								
	Clay	 	IA	 	Doc. 2008 190 in Book 2008; Page 190	 	Doc. 2008 191 in Book 2008; Page 191	 	Doc. 2008 3615 in Book 2008; Page 3615	 	Doc. 2008 3613 in Book 2008; Page 3616	 	Doc. 2009-3942 in Book 2009, Page 3942	 	
								
	Davis	 	IA	 	 Doc. 2008-0069 in
 Book 142;
Page 001
	 	 Doc. 2008-0070 in
 Book 143;
Page 001
	 	 Doc. 2008-1804 in
 Book 150;
Page 437
	 	 Doc. 2008-1805 in
 Book 150;
Page 508
	 	Doc. 2009-1438, in Book 156, Page 193	 	
								
	Decatur	 	IA	 	Book 2008; Page 0096	 	Book 2008; Page 0097	 	Book 2008; Page 1769	 	Book 2008; Page 1770	 	Book 2009, Page 1558	 	
								
	Delaware	 	IA	 	Doc. 2008 203 in Book 2008; Page 203	 	Doc. 2008 204 in Book 2008; Page 204	 	Doc. 2008 3805 in Book 2008; Page 3805	 	Doc. 2008 3806 in Book 2008; Page 3806	 	Doc. 2009 4636, in Book 2009, Page 4636	 	Doc. 2011 2326, in Book 2011, Page 2326
								
	Fayette	 	IA	 	Doc. 2008 192 in Book 2008; Page 192	 	Doc. 2008 193 in Book 2008; Page 193	 	Doc. 2008 3833 in Book 2008; Page 3833	 	Doc. 2008 3834 in Book 2008; Page 3834	 	Doc. 2009-3700, in Book 2009, Page 3700	 	
								
	Floyd	 	IA	 	Doc. 2008-0173 in Book 2008; Page 0173	 	Doc. 2008-0174 in Book 2008; Page 0174	 	Doc. 2008-3135 in Book 2008; Page 3135	 	Doc. 2008-3136 in Book 2008; Page 3136	 	Doc. 2009-3358, in Book 2009, Page 3358	 	
								
	Franklin	 	IA	 	Inst. 20080199	 	Inst. 20080200	 	Inst. 20082936	 	Inst. 20082937	 	Inst. 20092288	 	Inst. 20111230
								
	Guthrie	 	IA	 	Book 2008; Page 0226	 	Book 2008; Page 0227	 	Book 2008; Page 3261	 	Book 2008; Page 3262	 	Doc. 3080, in Book 2009	 	
								
	Greene	 	IA	 		 		 		 		 		 	Inst. No. 2011-1271
								
	Henry	 	IA	 	Doc. 0160 in Book 2008; Page 0160	 	Doc. 0161 in Book 2008; Page 0161	 	Doc. 3507 in Book 2008; Page 3507	 	Doc. 3508 in Book 2008; Page 3508	 	Doc. 3283, in Book 2009, Page 3283	 	
								
	Howard	 	IA	 	 Doc. 2008-1376 in
 Book 358;
Page 1 and Book 359; Page 501
	 	Doc. 2008-1377 in Book 360; Page 1 and Book 361; Page 501	 	Doc. 2008-1253 in Book 2008; Page 1253	 	Doc. 2008-1254 in Book 2008; Page 1254	 	Doc. 2009-2183, in Book 2009, Page 2183	 	
								
	Keokuk	 	IA	 	Fee Book 2008-0112	 	Fee Book 2008-0113	 	Fee Book 2008-2094	 	Fee Book 2008-2095	 	Book 2009-2073	 	

															
	Louisa	 	IA	 	Fee Book 2008-1338	 	Fee Book 2008-1339	 	Fee Book 2008-0976	 	Fee Book 2008-0977	 	Book 2009-0874	 	
								
	Lyon	 	IA	 	Doc. 2008 212 in Book 2008; Page 212	 	Doc. 2008 213 in Book 2008; Page 213	 	 Doc. 2008 3053 in
 Book 2008;
Page 3053
	 	 Doc. 2008 3054 in
 Book 2008;
Page 3054
	 	Doc. 2009-3163, in Book 2009, Page 3163	 	
								
	Madison	 	IA	 		 		 		 		 		 	Document 2011 1881, in Book 2011, Page 1881
								
	Mahaska	 	IA	 	 Doc. 2008-198 in
 Book 2008;
Page 198
	 	Doc. 2008-199 in Book 2008; Page 199	 	 Doc. 2008 4119 in
 Book 2008;
Page 4119
	 	 Doc. 2008 4120 in
 Book 2008;
Page 4120
	 	Doc. 2009-4038, in Book 2009, Page 4038	 	
								
	Mitchell	 	IA	 	Doc. 2008-112 in Book 2008; Page 112	 	 Doc. 2008-113 in
 Book 2008;
Page 113
	 	Doc. 2008-2427 in Book 2008; Page 2427	 	 Doc. 2008-2428 in
 Book 2008;
Page 2428
	 	Doc. 2009-2613, in Book 2009, Page 2613	 	
								
	Palo Alto	 	IA	 	 Doc. 2008-121 in
 Book 2008;
Page 121
	 	 Doc. 2008-122 in
 Book 2008;
Page 122
	 	 Doc. 2008-2472 in
 Book 2008;
Page 2472
	 	 Doc. 2008-2473 in
 Book 2008;
Page 2473
	 	Doc. 2009-2228, in Book 2009, Page 2228	 	
								
	Polk	 	IA	 	 Doc. 020740580969
 File
2008-00054845 in
 Book 12513; Page 1
	 	 Doc. 020740590839
 File
2008-00054846 in
 Book 12514; Page 1
	 	 Doc. 021787280071
 File
2009-00038437 in
 Book 12854; Page 894
	 	 Doc. 021787330027
 File
2009-00038438 in
 Book 12854; Page 965
	 	File 2010-00047634, Book 13303, Page 176-259, Doc ID 023094290084	 	
								
	Scott	 	IA	 	Doc. 016584770969 File 2008-00001602	 	Doc. 016584780839 File 2008-00001603	 	Doc. 017068630071 File 2008-00032813	 	Doc. 017068640027 File 2008-00032814	 	File 2009-00037177, Doc ID 017551650084	 	
								
	Sioux	 	IA	 	File 2008; Card 437	 	File 2008; Card 438	 	File 2008; Card 7846	 	File 2008; Card 7847	 	File 2009, Card 8619	 	
								
	Taylor	 	IA	 	 Doc. 2008786 in
 Book 161; Page
8
	 	 Doc. 2008787 in
 Book 161; Page
9
	 	 Doc. 2009628 in
 Book 163; Page
215
	 	 Doc. 2009629 in
 Book 163; Page
287
	 	Doc. 2010569, in Book 165, Page 587	 	
								
	Warren	 	IA	 		 		 		 		 		 	Fee Book 2011-5477
								
	Washington	 	IA	 	 Doc. 08-0211 in
 Book 2008;
Page 0211
	 	 Doc. 08-0212 in
 Book 2008;
Page 0212
	 	 Doc. 08-4793 in
 Book 2008;
Page 4793
	 	 Doc. 08-4794 in
 Book 2008;
Page 4794
	 	Doc. 09-5649, in Book 2009, Page 5649	 	
								
	Webster	 	IA	 	Inst. 2008-335	 	Inst. 2008-336	 	Inst. 2008-07262	 	Inst. 2008-07263	 	Instr. 2009-07068	 	
								
	Winnebago	 	IA	 	Fee Book 08-0076 in Book 2008; Page 0076	 	Fee Book 08-0077 in Book 2008; Page 0077	 	Fee Book 08-2035 in Book 2008; Page 2035	 	Fee Book 08-2036 in Book 2008; Page 2036	 	Fee Book 09-2211, in Book 2009, Page 2211	 	
								
	Winneshiek	 	IA	 	 Doc. 2008 197 in
 Book 2008;
Page 197
	 	 Doc. 2008 198 in
 Book 2008;
Page 198
	 	 Doc. 2008 4570 in
 Book 2008;
Page 4570
	 	 Doc. 2008 4571 in
 Book 2008;
Page 4571
	 	Doc 2009-5633, in Book 2009, Page 5633	 	
								
	Wright	 	IA	 	 Doc. 08-140 in
 Book 08; Page
140
	 	 Doc. 08-141 in
 Book 08; Page
141
	 	 Doc. 08-2559 in
 Book 08; Page
2559
	 	 Doc. 08-2560 in
 Book 08; Page
2560
	 	Doc. 09-2543, in Book 09, Page 2543	 	

															
	Carroll	 	IL	 	Doc. 2008R-0150 in Book 924; Page 1	 	 Doc. 2008R-0151 in
 Book 925;
Page 1
	 	 Doc. 2008R-3462 in
 Book 960;
Page 403
	 	 Doc. 2008R-3463 in
 Book 960;
Page 473
	 	Doc. 2009R-3847	 	
								
	Jo Daviess	 	IL	 	Doc. 339743	 	Doc. 339744	 	Doc. 345826	 	Doc. 345827	 	Doc. 353333	 	
								
	Rock Island	 	IL	 	Doc. 2008-01374	 	Doc. 2008-01375	 	Doc. 2008-26758	 	Doc. 2008-26759	 	Doc. 2009-27940	 	
								
	Whiteside	 	IL	 	Doc. 410-2008	 	Doc. 411-2008	 	Doc. 9809-2008	 	Doc. 9810-2008	 	Doc. 10057-2009	 	
								
	Cottonwood	 	MN	 	 Doc. 255292
 office of the
Cottonwood County Recorder
	 	 Doc. 255293
 office of the
Cottonwood County Recorder
	 	 Doc. 258076
 office of the
Cottonwood County Recorder
	 	 Doc. 258077
 office of the
Cottonwood County Recorder
	 	Doc. 260747	 	
								
	Faribault	 	MN	 	 Doc. 342918
 office of the
Faribault County Recorder
	 	 Doc. 342919
 office of the
Faribault County Recorder
	 	 Doc. 346309
 office of the
Faribault County Recorder
	 	 Doc. 346310
 office of the
Faribault County Recorder
	 	Doc. 349879	 	
								
	Fillmore	 	MN	 	 Doc. 362678
 office of the
Fillmore County Recorder
	 	 Doc. 362679
 office of the
Fillmore County Recorder
	 	 Doc. 368282
 office of the
Fillmore County Recorder
	 	 Doc. 368283
 office of the
Fillmore County Recorder
	 	Doc. 376407	 	
								
	 Freeborn
  
 Easement – Torrens
	 	MN	 	 Doc. 474468
 office of the
Freeborn County Recorder
	 	 Doc. 474469
 office of the
Freeborn County Recorder
	 	 Doc. 479360
 office of the
Freeborn County Recorder
	 	 Doc. 479361
 office of the
Freeborn County Recorder
	 	Doc. Nos. 485905 (A) & 110681 (T)	 	Doc. Nos. 495228 (A) & 111610 (T)
								
		 		 	Doc. 109689 office of the Freeborn County Registrar of Titles	 	 Doc. 109690
 office of the
Freeborn County Registrar of Titles
	 	 Doc. 110165
 office of the
Freeborn County Registrar of Titles
	 	 Doc. 110166
 office of the
Freeborn County Registrar of Titles
	 		 	
								
	Jackson	 	MN	 	 Doc. A251774
 office of the
Jackson County Recorder
	 	 Doc. A251775
 office of the
Jackson County Recorder
	 	 Doc. A254516
 office of the
Jackson County Recorder
	 	 Doc. A254517
 office of the
Jackson County Recorder
	 	Doc. A257698	 	Doc. A262368
								
	Le Sueur	 	MN	 	 Doc. 353162
 office of the Le
Sueur County Recorder
	 	 Doc. 353163
 office of the Le
Sueur County Recorder
	 	 Doc. 359395
 office of the Le
Sueur County Recorder
	 	 Doc. 359396
 office of the Le
Sueur County Recorder
	 	Doc. 366253	 	
								
	Mower	 	MN	 	 Doc. A000565139
 office of the
Mower County Recorder
	 	 Doc. A000565140
 office of the
Mower County Recorder
	 	 Doc. A000572171
 office of the
Mower County Recorder
	 	 Doc. A000572172
 office of the
Mower County Recorder
	 	Doc. A000579676	 	Doc. A000591112
								
	Nobles	 	MN	 	 Doc. A317292
 office of the
Nobles
	 	 Doc. A317293
 office of the
Nobles
	 	 Doc. A321156
 office of the
Nobles
	 	 Doc. A321157
 office of the
Nobles
	 	Doc. A325403	 	

															
		 		 	County Recorder	 	County Recorder	 	County Recorder	 	County Recorder	 		 	
								
	Rock	 	MN	 	 Doc. 168189
 office of the Rock
County Recorder
	 	 Doc. 168190
 office of the Rock
County Recorder
	 	 Doc. 170372
 office of the Rock
County Recorder
	 	 Doc. 170373
 office of the Rock
County Recorder
	 	Doc. 172760	 	
								
	Steele	 	MN	 	 Doc. A000354767
 office of the
Steele County Recorder
	 	 Doc. A000354768
 office of the
Steele County Recorder
	 	 Doc. A000361084
 office of the
Steele County Recorder
	 	 Doc. A000361085
 office of the
Steele County Recorder
	 	Doc. A000368262	 	Doc. A000379062
								
	Watonwan	 	MN	 	 Doc. 207915
 office of the
Watonwan County Recorder
	 	 Doc. 207916
 office of the
Watonwan County Recorder
	 	 Doc. 210325
 office of the
Watonwan County Recorder
	 	 Doc. 210326
 office of the
Watonwan County Recorder
	 	Doc. 212753	 	
								
	Blue Earth	 	MN	 	 Doc. 481CR565
 office of the
Blue Earth County Recorder
	 	 Doc. 481CR566
 office of the
Blue Earth County Recorder
	 	 Doc. 489CR662
 office of the
Blue Earth County Recorder
	 	 Doc. 489CR663
 office of the
Blue Earth County Recorder
	 	Doc. 498CR325	 	
								
	Brown	 	MN	 	 Doc. 364356
 office of the
Brown County Recorder
	 	 Doc. 364357
 office of the
Brown County Recorder
	 	 Doc. 369232
 office of the
Brown County Recorder
	 	 Doc. 369233
 office of the
Brown County Recorder
	 	Doc. 374910	 	
								
	Martin	 	MN	 	 Doc. 2008R-392714
 office of
the Martin County Recorder
	 	 Doc. 2008R-392715
 office of
the Martin County Recorder
	 	 Doc. 2008R-397320
 office of
the Martin County Recorder
	 	 Doc. 2008R-397321
 office of
the Martin County Recorder
	 	Doc. 2009R-401967	 	Doc. 2011R-408709
								
	Olmsted	 	MN	 	 Doc. A1157194
 office of the
Olmsted County Recorder
	 	 Doc. A1157195
 office of the
Olmsted County Recorder
	 	 Doc. A1185995
 office of the
Olmsted County Recorder
	 	 Doc. A1185994
 office of the
Olmsted County Recorder
	 	Doc. A-1218791	 	
								
	Murray	 	MN	 	 Doc. 230354
 office of the
Murray County Recorder
	 	 Doc. 230355
 office of the
Murray County Recorder
	 	 Doc. 232821
 office of the
Murray County Recorder
	 	 Doc. 232822
 office of the
Murray County Recorder
	 	Doc. 235452	 	
								
	Redwood	 	MN	 	 Doc. A326435
 office of the
Redwood County Recorder
	 	 Doc. A326436
 office of the
Redwood County Recorder
	 	 Doc. A329534
 office of the
Redwood County Recorder
	 	 Doc. A329535
 office of the
Redwood County Recorder
	 	Doc. A 333004	 	Doc. A 338413
								
	Wabasha	 	MN	 	 Doc. A286205
 office of the
Wabasha County Recorder
	 	 Doc. A286206
 office of the
Wabasha County Recorder
	 	 Doc. A290867
 office of the
Wabasha County Recorder
	 	 Doc. A290868
 office of the
Wabasha County Recorder
	 	Doc. A 295667	 	
								
	Winona	 	MN	 	 Doc. 525959
 office of the
Winona
	 	 Doc. 525960
 office of the
Winona
	 	 Doc. 534510
 office of the
Winona
	 	 Doc. 534511
 office of the
Winona
	 	Doc. 544045	 	

															
		 		 	County Recorder	 	County Recorder	 	County Recorder	 	County Recorder	 		 	
								
	Clark	 	MO	 	 Doc. 28353 in
 Book 72; Page
37
	 	 Doc. 28354 in
 Book 72; Page
38
	 	 Doc. 30039 in
 Book 72; Page
39
	 	 Doc. 30040 in
 Book 72; Page
40
	 	Doc. 31759	 	

 Exhibit A 
 DESCRIPTION OF PROPERTIES 
 The following properties of the Company, owned as of
the date hereof, have been acquired by the Company subsequent to the date of the Fifth Supplemental Indenture: 
 [See Attached]

 Exhibit B 
 SUBORDINATION TERMS 
 The unsecured permitted indebtedness evidenced by this instrument is
subordinated and subject in right of payment to the prior payment in full of all Senior Debt Obligations (as hereinafter defined) of ITC Midwest LLC, a limited liability company formed under the laws of the State of Michigan (the
“Company”). Each holder of this instrument, by its acceptance hereof, agrees to and shall be bound by all the provisions hereof. 

All capitalized terms used herein and not otherwise defined herein shall have the meanings attributed to them in the Sixth Supplemental Indenture, dated
as of November 29, 2011 (as in effect on the date hereof, the “Supplemental Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A. (as successor to The Bank of New York Trust Company, N.A.), as trustee
(the “Trustee”). 
 The term “Senior Debt Obligations”, as used herein, shall include all, loans, advances, debts,
liabilities and obligations, howsoever arising (whether or not evidenced by any note or instrument and whether or not for the payment of money), direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising
(collectively, as used herein, “Obligations”) of the Company now or hereafter existing in respect of Senior Debt (as defined herein) and any amendments, modifications, deferrals, renewals or extensions of any such Senior Debt, or of any
notes or evidences of indebtedness heretofore or hereafter issued in evidence of or in exchange for any such Obligation, whether for principal, interest (including interest payable in respect of any such Obligations subsequent to the commencement of
any proceeding against or with respect to the Company under any chapter of the Bankruptcy Code, 11 U.S.C. § 101 et seq. (the “Bankruptcy Code”), or any provision of corresponding bankruptcy, insolvency or commercial
reorganization legislation of any other jurisdiction, whether or not such interest is an allowed claim enforceable against the debtor, and whether or not the holder of such obligation would be otherwise entitled to receive dividends or payments with
respect to any such interest or any such proceeding), premium (including Make-Whole Amount), if any, fees, expenses or otherwise. 
 The term
“Senior Debt”, as used herein, shall mean (i) all Senior Secured Debt and (ii) all unsecured Debt of the Company permitted to be incurred by the Company pursuant to the Mortgage Indenture or the Supplemental Indenture which is
not subject to any subordination terms whether or not similar to those set forth in this instrument. 
 The term “Subordinated Debt”,
as used herein, shall mean all Obligations of the Company evidenced by this instrument owing to any Person now or hereafter existing hereunder (whether created directly or acquired by assignment or otherwise), whether for principal, interest
(including, without limitation, interest accruing after the filing of a petition initiating any bankruptcy proceeding described in the definition of Senior Debt Obligations, whether or not such interest accrues after the filing of such petition for
purposes of the Bankruptcy Code or is an allowed claim in such proceeding), fees, expenses or otherwise. 
 On and after the Closing Date, no
payment on account of principal, interest, fees, premium, expenses or otherwise on this Subordinated Debt shall be made by the Company in cash or otherwise unless (a) full payment of all amounts then due and payable on all Senior Debt
Obligations has been made, (b) such payment would be permitted by the Indenture and any Senior Debt Document (as defined below) and (c) immediately after giving effect to such payment, there shall not exist any Default or Event of Default.
Any such payment permitted pursuant to this paragraph is hereinafter referred to as a “Permitted Payment”. For the purposes of these provisions, no Senior Debt Obligations shall be deemed to have

 
been paid in full until the obligee of such Senior Debt Obligations shall have received payment in full in cash and 91 days shall have elapsed since the date of receipt of such payment.

 Upon any payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities, to creditors
upon any dissolution or winding up or total or partial liquidation or reorganization of the Company, whether voluntary or involuntary or in bankruptcy, insolvency, receivership or other proceedings, then and in any such event all principal, premium
and interest and all other amounts due or to become due upon all Senior Debt Obligations shall first be paid in full before the holders of the Subordinated Debt shall be entitled to retain any assets so paid or distributed in respect of the
Subordinated Debt (whether for principal, premium, interest or otherwise), and upon any such dissolution or winding up or liquidation or reorganization, any payment or distribution of assets of the Company of any kind or character, whether in cash,
property or securities, to which the holders of the Subordinated Debt would be entitled, except as otherwise provided herein, shall be paid pro rata among the holders of Senior Debt Obligations by the Company or by any receiver, trustee in
bankruptcy, liquidating trustee, agent or other Person making such payment or distribution, or by the holders of the Subordinated Debt if received by them. So long as any Senior Debt Obligations are outstanding, the holder of this instrument shall
not commence, or join with any creditor other than the Trustee or the Senior Debt Parties (as hereinafter defined) in commencing, or directly or indirectly causing the Company to commence, or assist the Company in commencing, any proceeding referred
to in the preceding sentence. 
 The holder of this instrument hereby irrevocably authorizes and empowers (without imposing any obligation on)
each Person (each such Person a “Senior Debt Party” and collectively, the “Senior Debt Parties”) that has entered into an agreement, instrument, or other document evidencing or relating to any Senior Debt Obligation (each such
agreement, instrument or other document, a “Senior Debt Document”) as a lender or creditor and such Senior Debt Party’s representatives, under the circumstances set forth in the immediately preceding paragraph, to demand, sue for,
collect and receive every such payment or distribution described therein and give acquittance therefor, to file claims and proofs of claims in any statutory or nonstatutory proceeding, to vote such Senior Debt Party’s ratable share of the full
amount of the Subordinated Debt evidenced by this instrument in its sole discretion in connection with any resolution, arrangement, plan of reorganization, compromise, settlement or extension and to take all such other action (including, without
limitation, the right to participate in any composition of creditors and the right to vote such Senior Debt Party’s ratable share of the full amount of the Subordinated Debt at creditors’ meetings for the election of trustees, acceptances
of plans and otherwise), in the name of the holder of the Subordinated Debt evidenced by this instrument or otherwise, as such Senior Debt Party’s representatives may deem necessary or desirable for the enforcement of the subordination
provisions of this instrument. The holder of this instrument shall execute and deliver to each Senior Debt Party and such holder’s representatives all such further instruments confirming the foregoing authorization, and all such powers of
attorney, proofs of claim, assignments of claim and other instruments, and shall take all such other action as may be reasonably requested by such holder or such holder’s representatives in order to enable such holder to enforce all claims upon
or in respect of such holder’s ratable share of the Subordinated Debt evidenced by this instrument. 
 The holder of this instrument shall
not, without the prior written consent of the Senior Debt Parties, have any right to accelerate payment of, or institute any proceeding to enforce, the Subordinated Debt so long as any Senior Debt Obligations are outstanding, unless and until all
Senior Debt Parties have accelerated payment thereof and commenced proceedings to enforce such Senior Debt Obligations. 
 After the payment in
full of all amounts due in respect of Senior Debt Obligations, the holder or holders of the Subordinated Debt shall be subrogated to the rights of the Senior Debt Parties to receive payments or distributions of cash, property or securities of the
Company applicable to Senior Debt Obligations until 

 
the principal of, premium on, interest on and all other amounts due or to become due with respect to the Subordinated Debt shall be paid in full subject to the terms and conditions of the
Subordinated Debt or of any agreement among the holders of the Subordinated Debt and other Subordinated Debt of the Company. 
 If any payment
(other than a Permitted Payment) or distribution of assets of the Company of any kind or character, whether in cash, property or securities, shall be received by the holder of the Subordinated Debt in such capacity before all Senior Debt Obligations
are paid in full, such payment or distribution will be held in trust for the benefit of, and shall be immediately paid over pro rata among the Senior Debt Parties, for application to the payment in full of Senior Debt Obligations, until all
Senior Debt Obligations shall have been paid in full. 
 Nothing contained in this instrument is intended to or shall impair as between the
Company, its creditors (other than the Senior Debt Parties) and the holders of the Subordinated Debt, the obligations of the Company to pay to the holders of the Subordinated Debt, as and when the same shall become due and payable in accordance with
their terms, or to affect the relative rights of the holders of the Subordinated Debt and creditors of the Company (other than the Senior Debt Parties). 
 The Senior Debt Parties shall not be prejudiced in their rights to enforce the subordination contained herein in accordance with the terms hereof by any act or failure to act on the part of the Company.

 The holder of this instrument agrees to execute and deliver such further documents and to do such other acts and things as the Senior Debt
Parties may reasonably request in order fully to effect the purposes of these subordination provisions. Each holder of this instrument by its acceptance hereof authorizes and directs the trustee or other representative, if any, of the Subordinated
Debt represented by this instrument on its behalf to take such further action as may be necessary to effectuate the subordination as provided herein and appoints such trustee or other representative, if any, as its attorney-in-fact for any and all
such purposes. 
 The subordination effected by these provisions, and the rights of the Senior Debt Parties, shall not be affected by
(i) any amendment of, or addition or supplement to, the Financing Agreements, any other Senior Debt Document, or any other document evidencing or securing Senior Debt Obligations, (ii) any exercise or non-exercise of any right, power or
remedy under or in respect to the Financing Agreements, any other Senior Debt Document, or any other document evidencing or securing Senior Debt Obligations or (iii) any waiver, consent, release, indulgence, extension, renewal, modification,
delay, or other action, inaction or omission, in respect of the Financing Agreements, any other Senior Debt Document, or any other document evidencing or securing Senior Debt Obligations; whether or not any holder of any Subordinated Debt shall have
had notice or knowledge of any of the foregoing. 
 No failure on the part of any Senior Debt Party to exercise, and no delay in exercising, any
right hereunder shall operate as a waiver thereof; nor all any single or partial exercise of any right hereunder preclude any other or further exercise thereof or the exercise of any other right. The remedies herein provided are cumulative and not
exclusive of any remedies provided by Law. 
 The holder of this instrument and the Company each hereby waive promptness, diligence, notice of
acceptance and any other notice with respect to any of the Senior Debt Obligations and these terms of subordination and any requirement that the Trustee or any Senior Debt Party protect, secure, perfect or insure any Lien or any property subject
thereto or exhaust any right to take any action against the Company or any other Person or any Mortgaged Property. 
 These terms of
subordination shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any of the Senior Debt Obligations is rescinded or must otherwise be returned by the

 
Trustee or any Senior Debt Party upon the insolvency, bankruptcy or reorganization of the Company or otherwise, all as though such payment had not been made. 

The provisions of these terms of subordination constitute a continuing agreement and shall (i) remain in full force and effect until the
indefeasible payment in full of the Senior Debt Obligations and the termination or expiration of all obligations to extend credit under the Senior Debt Documents, (ii) be binding upon the holder of this instrument, the Company and its
successors, transferees and assignees and (iii) inure to the benefit of, and be enforceable by, the Trustee and each Senior Debt Party. Without limiting the generality of the foregoing clause (iii), each Senior Debt Party may assign or
otherwise transfer all or any portion of its rights and obligations under all or any of the Senior Debt Documents to any other Person (to the extent permitted by the Senior Debt Documents), and such other Person shall thereupon become vested with
all the rights in respect thereof granted to such Senior Debt Party herein or otherwise. 
 This instrument shall be governed by and construed
in accordance with, the laws of the State of New York. 

 Exhibit C 
 THIS BOND HAS NOT BEEN REGISTERED PURSUANT TO THE
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR PURSUANT TO
THE SECURITIES LAWS OF ANY STATE. ACCORDINGLY, THIS BOND MAY NOT BE
OFFERED, SOLD OR OTHERWISE TRANSFERRED (1) EXCEPT IN ACCORDANCE WITH AN
APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND
ANY APPLICABLE STATE SECURITIES LAWS OR (2) UNLESS THIS BOND IS REGISTERED
UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS. 

ITC MIDWEST LLC 
 3.50% First Mortgage Bonds, Series E due 2027 
  

	
	 Original Interest Accrual Date: January 19, 2012
 Stated Maturity: January 19, 2027
 Interest Rate: 3.50% per annum

Interest Payment Dates: June 30 and December 31
 Regular Record Dates: June 15 and December 15

 This Bond is a Security within the 
 meaning of the within-mentioned Indenture. 
  

 
  

			
	Registered No. [RB - ]	  	[DATE]
	$[        
]1	  	PPN [            ]

 ITC MIDWEST LLC, a limited liability company duly organized and existing under the laws of the State of Michigan (herein
called the “Company”, which term includes any successor corporation under the Indenture referred to below), for value received, hereby promises to pay to
[                    ], or its registered assigns, the principal sum of
[                    ] DOLLARS ($         ) on the Stated Maturity specified above, and to pay interest
(a) thereon from the Original Interest Accrual Date specified above or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on the Interest Payment Dates specified above in
each year, commencing on June 30, 2012 and at Maturity, at the Interest Rate per annum specified above, until the principal hereof is paid or duly provided for and (b) to the extent permitted by law, on any overdue payment (including any
overdue prepayment) of principal, any overdue payment of interest and any overdue payment of any Make-Whole Amount, at a rate per annum from time to time equal to the greater of (i) 5.50% and (ii) 2.0% over the rate of interest publicly
announced by JPMorgan Chase Bank, N.A. from time to time in New York, New York as its “base” or “prime” rate. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date shall, as provided in
such Indenture, be paid to the Person in whose name this Bond (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date specified above (whether or not a Business Day) next preceding such Interest
Payment Date. Notwithstanding the foregoing, interest payable at Maturity shall be paid to the Person to whom principal shall be paid. Except as otherwise provided in said Indenture, any such interest not so timely paid or duly provided for shall
forthwith cease to be payable to the Bondholder on such Regular Record Date and may either be paid to the Person in whose name this Bond (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the
payment of such 

  
  

	1 	 Reference is made to Schedule A attached hereto with respect to the amount of principal paid hereon and the last date to which interest has been paid
hereon. 

 
Defaulted Interest to be fixed by the Trustee, notice of which shall be given to the Bondholders not less than 10 days prior to such Special Record Date, or be paid at any time in any other
lawful manner not inconsistent with the requirements of any securities exchange or automated quotation system on which the Securities of this series may be listed, and upon such notice as may be required by such exchange or automated quotation
system, all as more fully provided in said Indenture. 
 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

Date of Authentication:              

 

			
	 THE BANK OF NEW YORK MELLON TRUST
 COMPANY, N.A. 
     as Trustee

		
	By:	 	  

		 	Authorized Officer

 Capitalized terms used in this Bond and not otherwise defined herein shall have the meaning assigned to such term
in the Indenture. 
 Subject to the home office payment obligation set forth in Section 2.02(b) of the Supplemental Indenture (referred to
below), payment of the principal of and Make-Whole Amount, if any, on this Bond and interest hereon at Maturity shall be made upon presentation of this Bond at the office or agency of the Trustee in New York, New York at c/o The Bank of New York
Mellon, Trust Services Window, 101 Barclay Street, New York, New York 10286 or at such other office or agency as may be designated for such purpose by the Company from time to time in accordance with the Indenture. Subject to the home office payment
obligation set forth in Section 2.02(b) of the Supplemental Indenture, payment of interest on this Bond (other than interest at Maturity) shall be made as set forth in Section 3.07 of the Original Indenture (as defined below). Payment of
the principal of and Make-Whole Amount, if any, and interest on this Bond, as aforesaid, shall be made in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private
debts. 
 This Bond is one of a duly authorized issue of securities of the Company (all such series of securities herein called the
“Securities”) issued and issuable in one or more series under and equally secured by a First Mortgage and Deed of Trust dated as of January 14, 2008 (such indenture as originally executed and delivered herein called the “Original
Indenture” and as supplemented and modified by any and all indentures supplemental thereto, including the Supplemental Indenture referred to below, being herein called the “Indenture”), and has been issued pursuant to that certain
Sixth Supplemental Indenture, dated as of November 29, 2011 (the “Supplemental Indenture”), each of the Original Indenture and the Sixth Supplemental Indenture being between the Company and The Bank of New York Mellon Trust Company,
N.A. (as successor to The Bank of New York Trust Company, N.A.), as trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture reference is hereby made for a description of the
property mortgaged, pledged and held in trust as security for payment of all amounts due under this Bond, the nature and extent of the security and the respective rights, limitations of rights, duties and immunities of the Company, the Trustee and
the Holders of the Securities thereunder and of the terms and conditions upon which the Securities (including the Securities of this series) are, and are to be, authenticated and delivered and secured. The acceptance of this Bond

  
 43 

 
shall be deemed to constitute the consent and agreement by the Holder hereof to all of the terms and provisions of the Indenture. This Bond is one of the series of Securities designated above.

 Notwithstanding anything to the contrary in Section 1.18 of the Original Indenture, in the Supplemental Indenture or in this Bond, if
the Stated Maturity or any Redemption Date of this Bond shall not be a Business Day at any Place of Payment, then (notwithstanding any other provision of the Original Indenture or the Supplemental Indenture or this Bond) payment of interest on or
principal (and premium, if any) of this Bond due at the Stated Maturity or on any Redemption Date thereof need not be made at such Place of Payment on such date, but may be made on the next succeeding Business Day at such Place of Payment with the
same force and effect as if made on the Stated Maturity or on any Redemption Date thereof, provided that interest shall accrue on the Outstanding principal amount of this Bond due at the Stated Maturity or on any Redemption Date thereof until the
date of actual payment. Interest hereon will be computed on the basis of a 360-day year of twelve 30-day months. 
 This Bond is subject to
mandatory redemption under the circumstances set forth in Section 5.01 of the Original Indenture and as set forth in Section 2.03 of the Supplemental Indenture. This Bond is subject to redemption at the option of the Company, in whole or
in part, as set forth in Section 2.04 of the Supplemental Indenture. 
 If an Event of Default, as defined in the Indenture, occurs and is
continuing, the principal of this Bond may be declared or otherwise become due and payable in the manner, at the price (including any applicable Make-Whole Amount) and with the effect provided in the Indenture. 

The Original Indenture permits, with certain exceptions as therein provided, the Trustee to enter into one or more supplemental indentures for the
purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, the Indenture with the consent of the Holders of a majority in aggregate principal amount of the Securities of all series then Outstanding under
the Indenture, considered as one class; provided, however, that if there shall be Securities of more than one series Outstanding under the Indenture and if a proposed supplemental indenture shall directly affect the rights of the Holders of
Securities of one or more, but less than all, of such series, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Securities of each series so directly affected, considered as one class, shall be
required; and provided, further, that if the Securities of any series shall have been issued in more than one Tranche and if a proposed supplemental indenture shall directly affect the rights of the Holders of Securities of one or more, but
less than all, of such Tranches, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Securities of all Tranches so directly affected, considered as one class, shall be required; and provided,
further, that the Original Indenture permits the Trustee to enter into one or more supplemental indentures for limited purposes without the consent of any Holders of Securities and for certain other purposes with the consent of all Holders of
affected Securities. The Original Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities then Outstanding, to waive compliance by the Company with certain provisions of the Indenture
and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Bond shall be conclusive and binding upon such Holder and upon all future Holders of this Bond and of any Bond issued upon the
registration of transfer hereof or in exchange therefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Bond. 
 No reference herein to the Indenture and no provision of this Bond or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal and
interest and any Make-Whole Amount on this Bond at the times, place and rate, and in the coin or currency, herein prescribed. 

  
 44 

 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Bond
is registrable in the Security Register, upon surrender of this Bond for registration of transfer at the office or agency of the Trustee in New York, New York, which as of the date hereof is located at c/o The Bank of New York Mellon, Trust Services
Window, 101 Barclay Street, New York, New York 10286, or such other office or agency as may be designated by the Company from time to time in accordance with the Indenture, duly endorsed by, or accompanied by a written instrument of transfer in the
form attached hereto as Annex A duly executed by the Holder hereof, or his attorney duly authorized in writing, and thereupon one or more new Securities of this series of authorized denominations and of like tenor and aggregate principal amount,
will be issued to the designated transferee or transferees. 
 The Securities of this series are issuable only as registered Securities, without
coupons, and in denominations of $250,000 or any integral multiple thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of
Securities of the same series and Tranche, of any authorized denominations, as requested by the Holder surrendering the same, and of like tenor upon surrender of the Bond or Bonds to be exchanged at the office or agency of the Trustee in New York,
New York at c/o The Bank of New York Mellon, Trust Services Window, 101 Barclay Street, New York, New York 10286, or such other office or agency as may be designated by the Company from time to time in accordance with the Indenture. 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith in accordance with the Indenture. 
 The Company, the Trustee and any agent of
the Company or the Trustee may treat the Person in whose name this Bond is registered as the absolute owner hereof for all purposes, whether or not this Bond be overdue, and neither the Company, the Trustee nor any such agent shall be affected by
notice to the contrary. 
 The Securities of this series are not entitled to the benefit of any sinking fund. 

As provided in Section 2.05 of the Supplemental Indenture, except as may be agreed to by the Holder hereof in connection with an offer made to all
Holders of the Securities of this series on the same terms and conditions, the Company shall not and shall not permit any Affiliate of the Company to purchase, redeem or otherwise acquire, directly or indirectly, this Bond, except upon the payment
or redemption of this Bond in accordance with the terms of the Indenture. The Company will promptly cause the Trustee to cancel this Bond once acquired by it or any Affiliate of the Company pursuant to any payment, redemption or purchase of this
Bond pursuant to any provision of the Indenture and no Bonds may be issued in substitution or exchange for this Bond. 
 As provided in
Section 16.01 of the Original Indenture, no recourse shall be had for the payment of the principal of or Make-Whole Amount, if any, or interest on any Securities, or any part thereof, or for any claim based thereon or otherwise in respect
thereof, or of the indebtedness represented thereby, or upon any obligation, covenant or agreement under the Indenture, against, and no personal liability whatsoever shall attach to, or be incurred by, any incorporator, organizer, member, manager,
stockholder, officer, director or employee, as such, past, present or future of the Company or of any predecessor or successor corporation (either directly or through the Company or a predecessor or successor corporation), whether by virtue of any
constitutional provision, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly agreed and understood that the Indenture and all the Securities (including the Bonds) are solely corporate
obligations and that any such personal liability is hereby expressly waived and released as a condition of, and as part of the consideration for, the execution of the Indenture and the issuance of the Securities (including the Bonds). 

  
 45 

 Demand, presentment, protest and notice of non-payment and protest are hereby waived by the Company.

 This Bond shall be governed by and construed in accordance with the law of the State of New York, except that (i) if this Bond shall
become qualified and shall become subject to the Trust Indenture Act, to the extent that the Trust Indenture Act shall be applicable, this Bond shall be governed by and construed in accordance with the Trust Indenture Act and (ii) if the law of
any jurisdiction wherein any portion of the Mortgaged Property is located shall govern the creation of a mortgage lien on and security interest in, or perfection, priority or enforcement of the Lien of the Indenture or exercise of remedies with
respect to, such portion of the Mortgaged Property, this Bond shall be governed by and construed in accordance with the law of such jurisdiction to the extent mandatory. 
 Unless the certificate of authentication hereon has been executed by the Trustee or an Authenticating Agent by manual signature, this Bond shall not be entitled to any benefit as a Security under the
Indenture or be valid or obligatory for any purpose. 
 [The remainder of this page is intentionally left blank.] 

  
 46 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

			
	ITC MIDWEST LLC
		
	By:	 	ITC Holdings Corp., as Sole Member
		
	By:	 	  

	
	Name: Cameron M. Bready
	Title: Executive Vice President, Treasurer and Chief Financial Officer

Date:                   
  

  
 47 

 SCHEDULE A 
 SCHEDULE OF NOTATIONS 
 The notations on the following table have been made
by the holder of the within Bond in connection with the transfer thereof in accordance with Section 2.02(b) of the Supplemental Indenture. 
  

							
	 Date of Notation
	  	Amount of principal paid
on the within
Bond	  	Last date to which interest has
been
paid on the within Bond	  	Notation by Holder

 ANNEX A 
 FORM OF ASSIGNMENT 
 FOR VALUE RECEIVED the undersigned hereby sell(s), assign(s) and
transfer(s) unto 
 PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER 

			
	 	
	 	  	 

  
  

Please print or typewrite name and address, including postal zip code of assignee 

 
  

 
  

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

 _____________________________________________________________________________________________________attorney to transfer said Bond on the Security
Register, upon surrender of said Bond at office or agency of the Trustee in New York, New York, or such other office or agency as may be designated by the Company from time to time in accordance with the Indenture, with full power of substitution in
the premises. 
 Dated:
                     
  

			
	[NAME OF TRANSFEROR]
		
	By:	 	  

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

 SIGNATURE GUARANTEE 
 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Security Registrar, which requirements include membership or participation in the Security
Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Security Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange
Act of 1934, as amended.

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