Document:

exv10w2

 

Exhibit 10.2

VOTING AGREEMENT

     VOTING AGREEMENT, dated as of April 30, 2008 (this “Agreement”), by and among GTH LLC,
a Delaware limited liability company (the “Buyer Affiliate”), and the Persons (as
hereinafter defined) set forth on Schedule I attached hereto (collectively, the
“Securityholders” and each a “Securityholder”).

W I T N E S S E T H:

     WHEREAS, simultaneously with the execution and delivery of this Agreement, Origen Financial,
Inc., a Delaware corporation (“Parent”), Origen Servicing, Inc., a Delaware corporation and
a wholly owned indirect subsidiary of Parent (“OSI”), Origen Financial L.L.C., a Delaware
limited liability company and a wholly owned direct subsidiary of Parent (together with OSI,
“Sellers”), and Green Tree Servicing LLC, a Delaware limited liability company and a wholly
owned indirect subsidiary of the Buyer Affiliate (the “Buyer”), are entering into an Asset
Purchase Agreement (as amended from time to time, the “Purchase Agreement”), providing for,
among other things, the sale by Sellers, and the purchase by Buyer or one or more of its Affiliates
(as hereinafter defined), of the Conveyed Property (as defined in the Purchase Agreement);

     WHEREAS, each Securityholder Beneficially Owns (as hereinafter defined) the number of shares
of common stock, par value $0.01 per share (the “Common Stock”), of Parent set forth
opposite such Securityholder’s name on Schedule I attached hereto;

     WHEREAS, after considering the best interests of Parent and its stockholders, reviewing the
Purchase Agreement, and weighing the possibilities of acquisition proposals from parties other than
Buyer, each Securityholder has determined that the Purchase Agreement and the transactions
contemplated thereby (including, without limitation, the purchase and sale of the Conveyed Property
as provided therein) are advantageous to Parent and its stockholders; and

     WHEREAS, as a condition and inducement to the willingness of Buyer to enter, and the Buyer
Affiliate’s willingness to cause Buyer to enter, into the Purchase Agreement and incur the
obligations set forth therein, Buyer and the Buyer Affiliate have required that the Securityholders
enter into this Agreement;

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

ARTICLE I

DEFINED TERMS

     Section 1.1 Definitions. Capitalized, undefined terms used in this Agreement shall
have the respective meanings ascribed to such terms in the Purchase Agreement. In

 

 

addition to the terms defined elsewhere herein or in the Purchase Agreement, for purposes of
this Agreement, the terms below shall have the following meanings:

     “Affiliate” means, with respect to any specified Person, any other Person that
directly, or through one or more intermediaries, controls or is controlled by or is under common
control with such specified Person. For purposes of this Agreement, with respect to any
Securityholder, “Affiliate” shall not include Parent and the Persons that directly, or indirectly
through one or more intermediaries, are controlled by Parent. For the avoidance of doubt, no
officer or director of Parent shall be deemed an Affiliate of another officer or director of Parent
by virtue of his or her status as an officer or director of Parent.

     “Alternative Transaction” means (a) any transaction of the type described in the
definition of “Competing Transaction” contained in the Purchase Agreement other than the
transactions contemplated by the Purchase Agreement and (b) any other action, agreement or
transaction that would reasonably be expected to hinder, delay, impede or frustrate the
consummation of the transactions contemplated by the Purchase Agreement (including, without
limitation, the purchase and sale of the Conveyed Property as provided therein).

     “Beneficially Owned” or “Beneficial Ownership” with respect to any securities
means having beneficial ownership of such securities (as determined pursuant to Rule 13d-3 under
the Exchange Act, disregarding the phrase “within 60 days” in paragraph (d)(1)(i) thereof),
including pursuant to any agreement, arrangement or understanding, whether or not in writing.

     “Beneficial Owner” with respect to any securities means a Person that has Beneficial
Ownership of such securities.

     “Person” shall mean an individual, corporation, limited liability company,
partnership, association, trust, unincorporated organization, other entity or group (as defined in
the Exchange Act).

     “Subject Securities” means, with respect to any Securityholder, without duplication,
(a) the shares of Common Stock Beneficially Owned by such Securityholder on the date hereof as
described on Schedule I hereto (as equitably adjusted for any stock split, dividend,
combination, subdivision, reclassification or other actions having any similar effect with respect
to the Common Stock), and (b) any additional shares of Common Stock or other capital stock or other
voting securities of Parent acquired by such Securityholder prior to the Termination Time or over
which such Securityholder acquires Beneficial Ownership prior to the Termination Time, whether
pursuant to existing option, warrants or other rights to acquire securities of Parent or otherwise.

     “Termination Time” means the earliest of (a) immediately following the completion of
the Closing, (b) the termination of the Purchase Agreement in accordance with Section 11.1 thereof,
or (c) written notice by the Buyer Affiliate to the Securityholders of the termination of this
Agreement.

     “Transfer” means, with respect to a security, the sale, transfer, pledge,
hypothecation, encumbrance, assignment or disposition (including, without limitation, by

 - 2 - 

 

gift) of such security or the Beneficial Ownership thereof, the offer to make such a sale,
transfer or other disposition, and each option, agreement, arrangement or understanding, whether or
not in writing, to effect any of the foregoing. As a verb, “Transfer” shall have a
correlative meaning.

ARTICLE II

COVENANTS OF STOCKHOLDERS

     Section 2.1 Irrevocable Proxy. Concurrently with the execution of this Agreement,
each Securityholder shall execute and deliver to the Buyer Affiliate a proxy in the form attached
hereto as Exhibit A (each, a “Proxy”). Each Proxy shall be irrevocable to the
fullest extent provided in Section 212 of the Delaware General Corporation Law with respect to the
securities referred to therein.

     Section 2.2 Agreement to Vote.

	 	(a)	 	At any meeting of the stockholders of Parent held prior to the Termination
Time, however called, and at every adjournment or postponement thereof prior to the
Termination Time, or in connection with any written consent of, or any other action
by, the stockholders of Parent given or solicited prior to the Termination Time, each
Securityholder shall vote, or provide its consent with respect to, all of the Subject
Securities entitled to vote or to consent thereon: (i) in favor of adoption, approval
and consummation of the Purchase Agreement and the transactions contemplated thereby
(including, without limitation, the purchase and sale of the Conveyed Property as
provided therein), whether the Purchase Agreement and the transactions contemplated
thereby are components of an asset disposition and management plan (or other plan,
scheme or arrangement) submitted to a vote of Parent’s stockholders or otherwise, and
any actions required in furtherance of the consummation thereof, and (ii) against any
Alternative Transaction or any other action, matter or agreement that would or is
intended, or could reasonably be expected, to result in any Alternative Transaction or
a breach of any covenant, representation or warranty or any other obligation or
agreement of Parent or any Seller under the Purchase Agreement.
	 
	 	(b)	 	Each Securityholder hereby agrees that it shall not directly or indirectly
enter into any agreement (whether written or oral) with any other Person (other than
Parent) prior to the Termination Time to vote, grant any proxy or give instructions
with respect to the voting of, any Subject Securities that are Beneficially Owned by
such Securityholder.

     Section 2.3 Revocation of Proxies; Cooperation.

	 	(a)	 	Each Securityholder hereby severally, but not jointly, and with respect only
to itself and not any other Securityholder, represents and warrants to the

 - 3 - 

 

	 	 	 	Buyer Affiliate that any proxies heretofore given in respect of the Subject
Securities Beneficially Owned by such Securityholder are not irrevocable, and such
Securityholder hereby revokes any and all proxies (other than the Proxies) with
respect to such Subject Securities. Prior to the Termination Time, no
Securityholder shall directly or indirectly grant any proxies or powers of attorney
with respect to the matters set forth in Section 2.2 hereof (other than to the
Buyer Affiliate), deposit any of the Subject Securities Beneficially Owned by it,
or enter, into a voting agreement (other than this Agreement) with respect to any
of such Subject Securities.

	 	(b)	 	Each Securityholder shall (i) use all reasonable efforts to cooperate with
Buyer, Parent and Sellers in connection with, and in furtherance of, the transactions
contemplated by the Purchase Agreement (including, without limitation, the purchase
and sale of the Conveyed Property as provided therein), (ii) promptly take such
actions as are necessary or appropriate to consummate such transactions, and
(iii) provide any information reasonably requested by Buyer, Parent or any Seller for
any regulatory application or filing made or approval sought in respect of such
transactions.

     Section 2.4 No Transfer of Subject Securities. During the term of this Agreement:

	 	(a)	 	no Securityholder shall take any action to subject any of the Subject
Securities that are Beneficially Owned by it to any Lien;
	 
	 	(b)	 	no Securityholder shall Transfer or agree to Transfer any of the Subject
Securities that are Beneficially Owned by it or grant any proxy or power-of-attorney
with respect to any such Subject Securities; provided, however, that
any Securityholder may Transfer any Subject Securities that are Beneficially Owned by
it to any other Person, provided that, as a condition precedent to the effectiveness
of any such Transfer, such other Person shall have executed and delivered to the Buyer
Affiliate a written agreement, in form and substance reasonably acceptable to the
Buyer Affiliate, pursuant to which such other Person shall become a party to, and
shall be bound by the terms and conditions of, this Agreement as though such other
Person were an original signatory hereto as a “Securityholder” hereunder;
provided; further, that any Transfer of Subject Securities other than
in accordance with the provisions of this Section 2.4(b) shall be void ab initio; and
	 
	 	(c)	 	each Securityholder shall use all reasonable efforts to prevent creditors in
respect of any pledge of the Subject Securities that are Beneficially Owned by it from
exercising their rights under such pledge.

 - 4 - 

 

     Section 2.5 Applicability of Agreement. Notwithstanding anything to the contrary
contained in this Agreement:

	 	(a)	 	the provisions of this Agreement apply solely to such Securityholder when
acting in its capacity as a holder of securities of Parent and not when acting as a
director or officer of Parent (it being understood that Parent has separate and
independent obligations to Buyer under the Purchase Agreement, including, without
limitation, Section 6.1(g) thereof); and
	 
	 	(b)	 	none of the provisions of this Agreement shall be construed to prohibit,
limit or restrict any Securityholder from exercising its fiduciary duties to Parent by
voting or taking any other action whatsoever in the capacity of a director or officer
of Parent, provided that neither anything contained in nor the exercise by any
Securityholder of its rights under this Section 2.5(b) shall relieve Parent of any of
its obligations, or have the effect of waiving any of Buyer’s rights, under the
Purchase Agreement (including, without limitation, Section 6.1(g) thereof).

ARTICLE III

REPRESENTATIONS AND WARRANTIES OF STOCKHOLDERS

     Each Securityholder hereby severally, but not jointly, and with respect only to itself and not
any other Securityholder, represents and warrants to the Buyer Affiliate that:

     Section 3.1 Ownership. Such Securityholder is the sole Beneficial Owner and, except
as set forth on Schedule I attached hereto, the record and legal owner of the Subject
Securities set forth opposite such Securityholder’s name on Schedule I attached hereto,
which Subject Securities constitute all of the securities of Parent that are Beneficially Owned by
such Securityholder as of the date hereof; and such Securityholder or the record owner of such
Subject Securities identified on Schedule I attached hereto, as applicable, has good and
valid title to all of such Subject Securities, free and clear of all Liens and exclusively
possesses the right to Transfer such Subject Securities. None of the Subject Securities set forth
opposite such Securityholder’s name on Schedule I attached hereto is subject to any voting
trust or other contract (whether written or oral) or restriction with respect to the voting or
Transfer thereof, and no proxy, power of attorney or other authorization has been granted with
respect to any of such Subject Securities.

     Section 3.2 Authority and Non-Contravention.

	 	(a)	 	Assuming due authorization, execution and delivery of this Agreement by the
Buyer Affiliate and the other Securityholders, this Agreement has been duly and
validly executed and delivered by such Securityholder and constitutes the legal, valid
and binding obligation of such Securityholder, enforceable against such Securityholder
in accordance with its terms except (i) to the extent limited by applicable
bankruptcy, insolvency or similar laws affecting creditors’ rights and (ii) the remedy
of specific performance and injunctive and other forms of equitable relief may be
subject to equitable defenses and to the discretion of the court before which any
proceeding therefor may be brought; and such Securityholder has all

 - 5 - 

 

	 	 	 	necessary power, authority and legal capacity to execute and deliver this Agreement
and to perform its obligations under this Agreement, and no other proceedings or
actions on the part of such Securityholder are necessary to authorize such
Securityholder’s execution, delivery or performance of this Agreement or its
consummation of the transactions contemplated hereby.

	 	(b)	 	Such Securityholder is not nor will it be required to make any filing with or
give any notice to, or to obtain any consent from, any Person or Governmental
Authority in connection with the execution, delivery or performance of this Agreement
or to obtain any permit or approval from any Governmental Authority for any of the
transactions contemplated hereby, except to the extent required by Section 13 or
Section 16 of the Exchange Act.
	 
	 	(c)	 	Neither the execution and delivery of this Agreement by such Securityholder
nor the consummation of the transactions contemplated hereby will directly or
indirectly (whether with notice or lapse of time or both) (i) conflict with, result in
any violation of, require any consent under or constitute a default by such
Securityholder under any mortgage, bond, indenture, agreement, instrument or
obligation to which such Securityholder is a party or by which it or any of its assets
(including any Subject Securities that are Beneficially Owned by such Securityholder)
are bound, or violate any permit of any Governmental Authority, or any Law, order or
consent decree to which such Securityholder, or any of its assets (including any
Subject Securities that are Beneficially Owned by such Securityholder), may be
subject, or (ii) result in the imposition or creation of any Lien upon or with respect
to any Subject Securities that are Beneficially Owned by such Securityholder.

     Section 3.3 Reliance. Such Securityholder understands and acknowledges that Buyer is
entering, and the Buyer Affiliate is causing Buyer to enter, into the Purchase Agreement in
reliance upon such Securityholder’s execution, delivery and performance of this Agreement and the
Proxy to which it is a party.

ARTICLE IV

GENERAL PROVISIONS

     Section 4.1 No Ownership Interest. Nothing contained in this Agreement shall be
deemed to vest in the Buyer Affiliate or any of its Affiliates any direct or indirect ownership or
incidents of ownership of or with respect to any Subject Securities. All rights, ownership and
economic benefits of and relating to the Subject Securities shall remain and belong to the
Securityholders, and the Buyer Affiliate and its Affiliates shall have no authority to manage,
direct, superintend, restrict, regulate, govern or administer any of the policies or operations of
Parent or exercise any power or authority to direct any

 - 6 - 

 

Securityholder in the voting of any of the Subject Securities, except as otherwise provided
herein or in the Purchase Agreement.

     Section 4.2 Notices. All notices, consents, waivers and other communications under
this Agreement shall be in writing (including facsimile or similar writing) and shall be given:

(a)   If to the Buyer Affiliate, to:

GTH LLC

c/o Green Tree Servicing LLC

345 St. Peter Street

1100 Landmark Towers

St. Paul, Minnesota 55102-1639

Attention: General Counsel

Facsimile: (651) 293-5818

With a copy to:

Willkie Farr & Gallagher LLP

787 Seventh Avenue

New York, New York 10019

Attn: Rosalind F. Kruse, Esq.

Fax: (212) 728-8111

(b)   If to a Securityholder:

c/o Origen Financial, Inc.

27777 Franklin Road

Suite 1700

Southfield, MI 48034

Attention: Ronald Klein

Facsimile: (248) 644-5595

With a copy to:

Jaffe Raitt Heuer & Weiss, P.C.

Suite 2500

27777 Franklin Road

Southfield MI  48086-5034

Attention: William E. Sider, Esq.

Facsimile: (248) 351-3082

or such other address or facsimile number as a party hereto may hereafter specify for the purpose
by notice to the other parties hereto. Each notice, consent, waiver or other communication under
this Agreement shall be effective only (a) if given by facsimile, when the facsimile is transmitted
to the facsimile number specified in or pursuant to this Section 4.2 and the appropriate facsimile
confirmation is received or (b) if given by

 - 7 - 

 

overnight courier or personal delivery, when delivered at the address specified in or pursuant to
this Section 4.2.

     Section 4.3 Entire Agreement and Modification. This Agreement, each Proxy and any
other documents delivered by the parties hereto in connection herewith constitute the entire
agreement among the parties hereto with respect to the subject matter hereof and supersedes all
prior agreements and understandings, both written and oral, between the parties with respect to the
subject matter hereof and constitute (along with the documents delivered pursuant to this
Agreement) a complete and exclusive statement of the terms of the agreement among the parties
hereto with respect to the subject matter hereof. This Agreement shall not be amended,
supplemented or otherwise modified except by a written document executed by the party against whose
interest the modification will operate.

     Section 4.4 Drafting and Representation. The parties hereto hereby agree that the
terms and language of this Agreement were the result of negotiations between the parties and, as a
result, there shall be no presumption that any ambiguities in this Agreement shall be resolved
against any party hereto. Any controversy over construction of this Agreement shall be decided
without regard to events of authorship or negotiation.

     Section 4.5 Severability. If any provision of this Agreement or any part of any such
provision is held under any circumstances to be invalid or unenforceable in any jurisdiction, as
determined by a court of competent jurisdiction, then (a) such provision or part thereof shall,
with respect to such circumstances and in such jurisdiction, be deemed amended to conform to
applicable laws so as to be valid and enforceable to the fullest possible extent, (b) the
invalidity or unenforceability of such provision or part thereof under such circumstances and in
such jurisdiction shall not affect the validity or enforceability of such provision or part thereof
under any other circumstances or in any other jurisdiction, and (c) the invalidity or
unenforceability of such provision or part thereof shall not affect the validity or enforceability
of the remainder of such provision or the validity or enforceability of any other provision of this
Agreement. Each provision of this Agreement is separable from every other provision of this
Agreement, and each part of each provision of this Agreement is separable from every other part of
such provision.

     Section 4.6 Assignment, Binding Effect and No Third-Party Rights. Except as expressly
provided in Section 2.4(b) above, no Securityholder may assign (by operation of law or otherwise)
any of its rights or delegate (by operation of law or otherwise) any of its obligations under this
Agreement without the prior written consent of the Buyer Affiliate, and any purported assignment or
delegation other than in accordance with this Section 4.6 shall be void ab initio. This Agreement
will apply to, be binding in all respects upon, and inure to the benefit of each of the parties
hereto and their respective successors, personal or legal representatives, heirs, distributes,
devisees, legatees, executors, administrators and permitted assigns. Nothing expressed or referred
to in this Agreement will be construed to give any Person, other than the parties to this
Agreement, any legal or equitable right, remedy or claim under or with respect to this Agreement or
any provision of this Agreement except such rights as may inure to the respective successors,
personal or legal representatives, heirs, distributes, devisees, legatees, executors,
administrators and permitted assigns of the parties hereto as provided in this Section 4.6.

 - 8 - 

 

     Section 4.7 Enforcement of Agreement. Each Securityholder hereby acknowledges and
agrees that the Buyer Affiliate and/or its Affiliates could be irreparably damaged if any of the
provisions of this Agreement are not performed in accordance with their specific terms and that any
breach of this Agreement by such Securityholder could not be adequately compensated by monetary
damages. Accordingly, such Securityholder hereby (a) waives, in any action for specific
performance, the defense of adequacy of a remedy at law and (b) agrees that, in addition to any
other right or remedy to which the Buyer Affiliate may be entitled, at law or in equity, the Buyer
Affiliate shall be entitled to enforce any provision of this Agreement by a decree of specific
performance and to temporary, preliminary and permanent injunctive relief to prevent breaches or
threatened breaches of any of the provisions of this Agreement, without posting any bond or other
undertaking.

     Section 4.8 Waiver. The rights and remedies of the parties to this agreement are
cumulative and not alternative. Neither any failure nor any delay by a party in exercising any
right, power or privilege under this Agreement, any Proxy or any of the documents referred to in
this Agreement will operate as a waiver of such right, power or privilege, and no single or partial
exercise of any such right, power or privilege will preclude any other or further exercise of such
right, power or privilege or the exercise of any other right, power or privilege. To the maximum
extent permitted by law, (a) no claim or right arising out of this Agreement, any Proxy or any of
the documents referred to in this Agreement can be discharged by one party, in whole or in part, by
a waiver or renunciation of the claim or right unless in a written document signed by each other
party hereto against whom such waiver or renunciation is charged, (b) no waiver that may be given
by a party hereto will be applicable except in the specific instance for which it is given, and
(c) no notice to or demand on one party hereto will be deemed to be a waiver of any obligation of
that party or of the right of the party giving such notice or demand to take further action without
notice or demand as provided in this Agreement, any applicable Proxy or the documents referred to
in this Agreement.

     Section 4.9 Governing Law. This Agreement and all acts and transactions pursuant
hereto and the rights and obligations of the parties hereto will be governed by, construed under
and interpreted in accordance with the Laws of the State of Delaware, without giving effect to
principles of conflicts or choice of law.

     Section 4.10 Consent to Jurisdiction. Except as otherwise expressly provided in this
Agreement, the parties hereto agree that any suit, action or proceeding seeking to enforce any
provision of, or based on any matter arising out of or in connection with, this Agreement or the
transactions contemplated hereby shall be brought exclusively in the United States District Court
for the District of Delaware or, if such court does not have jurisdiction over the subject matter
of such proceeding or if such jurisdiction is not available, in the Court of Chancery of the State
of Delaware, County of New Castle, and each of the parties hereto hereby consents to the exclusive
jurisdiction of those courts (and of the appropriate appellate courts therefrom) in any suit,
action or proceeding and irrevocably waives, to the fullest extent permitted by law, any objection
which it may now or hereafter have to the laying of the venue of any suit, action or proceeding in
any of those courts or that any suit, action or proceeding which is brought in any of those courts
has

 - 9 - 

 

been brought in an inconvenient forum. Process in any suit, action or proceeding may be
served on any party anywhere in the world, whether within or without the jurisdiction of any of the
named courts. Without limiting the foregoing, each party agrees that service of process on it by
notice as provided in Section 4.2 hereof shall be deemed effective service of process. EACH OF THE
PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ALL RIGHTS TO
TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR
OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED
HEREBY.

     Section 4.11 Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall be deemed to be an original, but all of which, taken together,
shall constitute one and the same instrument.

     Section 4.12 Termination. This Agreement shall terminate at the Termination Time.
Upon any termination of this Agreement, this Agreement shall, to the fullest extent permitted by
applicable Law, become void and of no force or effect without liability of any party to any other
party hereto; provided, however, that the provisions of this Article IV shall
survive any termination of this Agreement and no termination of this Agreement shall relieve any
party hereto from any liability for any breach by such party of any of the provisions of this
Agreement prior to such termination.

     Section 4.13 Expenses. Except as otherwise provided in this Agreement, all costs and
expenses incurred in connection with this Agreement and the transactions contemplated hereby shall
be paid by the party incurring such expenses.

     Section 4.14 Further Assurances. Each Securityholder shall from time to time execute
and deliver, or cause to be executed and delivered, such additional or further consents, documents
and other instruments as the Buyer Affiliate may reasonably request to carry out the purpose and
intent of this Agreement.

     Section 4.15 Headings; Construction. The headings contained in this Agreement are for
reference purposes only and shall not affect in any way the meaning or interpretation of this
Agreement. In this Agreement (a) words denoting the singular include the plural and vice versa,
(b) “it” or “its” or words denoting any gender include all genders and (c) the word “including”
shall mean “including, without limitation,” whether or not expressed.

[remainder of page intentionally left blank]

 - 10 - 

 

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

	 	 	 	 	 
	 	BUYER AFFILIATE:

GTH LLC

 	 
	 	By:  	/s/ Keith A. Anderson
 	 
	 	Name: Keith A. Anderson  	 
	 	Title: President 	 
	 

	 	 	 	 	 
	 	SECURITYHOLDERS:

 	 
	 	/s/    Ronald Klein
 	 
	 	Name:  	Ronald Klein 	 
	 	 	 
	 

	 	 	 	 	 
	 	 	 
	 	                                                   /s/    Gary Shiffman
 	 
	 	Name:  	Gary Shiffman 	 
	 	 	 
	 

	 	 	 	 	 
	 	 	 
	 	                                                   /s/    Paul Halpern
 	 
	 	Name:  	Paul Halpern 	 
	 	 	 
	 

	 	 	 	 	 
	 	 	 
	 	                                                   /s/    Richard Rogel
 	 
	 	Name:  	Richard Rogel 	 
	 	 	 
	 

	 	 	 	 	 
	 	 	 
	 	                                                   /s/    Robert Sher
 	 
	 	Name:  	Robert Sher 	 
	 	 	 
	 

	 	 	 	 	 
	 	 	 
	 	                                                   /s/    Michael Wecshler
 	 
	 	Name:  	Michael Wechsler 	 
	 	 	 
	 

[Signature Page to Voting Agreement]

 

 

	 	 	 	 	 
	 	 	 
	 	                                                   /s/    J. Peter Scherer
 	 
	 	Name:  	J. Peter Scherer 	 
	 	 	 
	 

	 	 	 	 	 
	 	 	 
	 	                                                   /s/ W. Anderson Geater, Jr.
 	 
	 	Name:  	W. Anderson Geater, Jr. 	 
	 	 	 
	 

	 	 	 	 	 
	 	 	 
	 	                                                   /s/ Mark Landschulz
 	 
	 	Name:  	Mark Landschulz 	 
	 	 	 
	 

	 	 	 	 	 
	 	WOODWARD HOLDINGS, LLC

 	 
	 	By:  	/s/ Paul Halpern
 	 
	 	 	Name:  	Paul Halpern   	 
	 	 	Title:  	Manager 	 
	 

	 	 	 	 	 
	 	RONALD KLEIN REVOCABLE TRUST

     U/A/D 2/26/1997

 	 
	 	By:  	/s/ Ronald A. Klein
 	 
	 	 	Name:  	Ronal A. Klein 	 
	 	 	Title:  	Trustee 	 
	 

	 	 	 	 	 
	 	SUN OFI, LLC

 	 
	 	By:  	/s/ Gary Shiffman
 	 
	 	 	Name:  	Gary Shiffman 	 
	 	 	 	 
	 

[Signature Page to Voting Agreement]

 

 

SCHEDULE I

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Outstanding
	 	 	Shares of	 	Shares of
	 	 	Common Stock	 	Common Stock
	Name of Securityholder	 	Beneficially Owned	 	Held of Record
	Ronald Klein
	 	 	595,238	1	 	 	560,238	 
	Gary Shiffman
	 	 	5,027,500	2	 	 	22,500	 
	Paul Halpern
	 	 	1,782,500	3	 	 	27,500	 
	Richard Rogel
	 	 	52,500	 	 	 	47,500	 
	Robert Sher
	 	 	6,000	 	 	 	6,000	 
	Michael Wechsler
	 	 	27,500	 	 	 	22,500	 
	J. Peter Scherer
	 	 	146,724	 	 	 	131,724	 
	W. Anderson Geater, Jr.
	 	 	145,597	 	 	 	130,597	 
	Mark Landschulz
	 	 	146,763	 	 	 	131,763	 
	Woodward Holding, LLC
	 	 	1,750,000	 	 	 	1,750,000	 
	Ronald Klein Revocable Trust
u/a/d 2/26/1997
	 	 	10,000	 	 	 	10,000	 
	Sun OFI, LLC
	 	 	5,000,000	 	 	 	5,000,000	 

 

			
	1	 	The Ronald Klein Revocable Trust u/a/d 2/26/1997 is the
record owner of 10,000 shares of Common Stock that are Beneficially Owned by
Mr. Klein.
	 
	2	 	Sun OFI, LLC is the record owner of 5,000,000 shares of
Common Stock that are Beneficially Owned by Mr. Shiffman because he is the
manager of Sun OFI, LLC. Pursuant to Rule 16a-1(a)(4) under the Exchange Act,
Mr. Shiffman disclaims Beneficial Ownership of such shares of Common Stock.
	 
	3	 	Woodward Holding, LLC is the record owner of 1,750,000
shares of Common Stock that are Beneficially Owned by Mr. Halpern because he is
the manager of Woodward Holding, LLC. Pursuant to Rule 16a-1(a)(4) under the
Exchange Act, Mr. Halpern disclaims Beneficial Ownership of such shares of
Common Stock.

 

 

EXHIBIT A

IRREVOCABLE PROXY

     The undersigned holder (the “Securityholder”) of securities of Origen Financial, Inc.,
a Delaware corporation (“Parent”), hereby irrevocably (to the full extent permitted by
Section 212 of the Delaware General Corporation Law) appoints the President and any Vice President
of GTH LLC, a Delaware limited liability company (the “Buyer Affiliate”), in their
respective capacities as designees of the Buyer Affiliate, as the sole and exclusive attorneys and
proxies of the Securityholder, with full power of substitution and resubstitution, to vote and
exercise solely the voting rights expressly provided herein (to the full extent that the
Securityholder is entitled to do so) with respect to the Subject Securities (as defined in the
Voting Agreement defined below) that are Beneficially Owned (as defined in the Voting Agreement) by
such Securityholder. Upon the Securityholder’s execution of this Proxy, any and all prior proxies
given by the Securityholder with respect to any of the Subject Securities are hereby revoked and
the Securityholder agrees not to grant any subsequent proxies with respect to any of the Subject
Securities at any time prior to the “Termination Time” under the Voting Agreement.

     This Proxy is irrevocable (to the extent permitted by Section 212 of the Delaware General
Corporation Law), is coupled with an interest and is granted pursuant to that certain Voting
Agreement, dated as of April 30, 2008 (as amended from time to time, the “Voting
Agreement”), by and among the Buyer Affiliate, the Securityholder and certain other holders of
securities of Parent, and is granted in consideration of Green Tree Servicing LLC, a Delaware
limited liability company and a wholly owned indirect subsidiary of the Buyer Affiliate, entering
into the Purchase Agreement (as defined in the Voting Agreement).

     Each attorney and proxy named above, and any of them, is hereby authorized and empowered by
the Securityholder, at any time prior to the Termination Time, to act as the Securityholder’s
attorney and proxy to vote the Subject Securities, and to exercise all voting and other rights of
the Securityholder with respect to the Subject Securities (including, without limitation, the power
to execute and deliver written consents pursuant to Section 228 of the Delaware General Corporation
Law or otherwise), at every annual or special meeting (and, in each case, any adjournment or
postponement thereof) of the holders securities of Parent at which any of the Subject Securities
are entitled to vote and in every written consent in lieu of any such meeting (or adjournment or
postponement): (i) in favor of adoption, approval and consummation of the Purchase Agreement and
the transactions contemplated thereby (including, without limitation, the purchase and sale of the
Conveyed Property (as defined in the Voting Agreement) as provided therein), whether the Purchase
Agreement and the transactions contemplated thereby are components of an asset disposition and
management plan (or other plan, scheme or arrangement) submitted to a vote of Parent’s stockholders
or otherwise, and any actions required in furtherance of the consummation thereof, and (ii) against
any Alternative Transaction (as defined in the Voting Agreement) or any other action, matter or
agreement that would or is intended, or could reasonably be expected, to result in any Alternative
Transaction or a breach of any covenant, representation or warranty or any other obligation or
agreement of Parent or any Seller (as defined in the Voting Agreement) under the Purchase
Agreement.

 

 

     The Securityholder may vote the Subject Securities on all other matters not referred to in
this Proxy, and the attorneys and proxies named above may not exercise this Proxy with respect to
such other matters.

     This Proxy shall be binding upon the heirs, estate, executors, personal representatives,
successors and assigns of the Securityholder (including any transferee of any of the Subject
Securities).

     If any provision of this Proxy or any part of any such provision is held under any
circumstances to be invalid or unenforceable in any jurisdiction, as determined by a court of
competent jurisdiction, then (a) such provision or part thereof shall, with respect to such
circumstances and in such jurisdiction, be deemed amended to conform to applicable laws so as to be
valid and enforceable to the fullest possible extent, (b) the invalidity or unenforceability of
such provision or part thereof under such circumstances and in such jurisdiction shall not affect
the validity or enforceability of such provision or part thereof under any other circumstances or
in any other jurisdiction, and (c) the invalidity or unenforceability of such provision or part
thereof shall not affect the validity or enforceability of the remainder of such provision or the
validity or enforceability of any other provision of this Proxy. Each provision of this Proxy is
separable from every other provision of this Proxy, and each part of each provision of this Proxy
is separable from every other part of such provision.

Dated: April __, 2008

	 	 	 	 	 	 	 
	 	 	SECURITYHOLDER:	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 

	 	 	 	 	 	 	 
	 

	 	Printed Name:	 	 	 	 
	 

	 	 	 	 

	 	 

- 2 -exv4wxay

 

Exhibit (4) (a) 

ONE HUNDRED SEVENTH SUPPLEMENTAL INDENTURE

Providing among other things for

FIRST MORTGAGE BONDS,

4.25% Series 2008 due June 15, 2010

 

Dated as of March 1, 2008

 

CONSUMERS ENERGY COMPANY

TO

THE BANK OF NEW YORK,

Trustee

Counterpart                      of 90

 

 

          ONE HUNDRED SEVENTH SUPPLEMENTAL INDENTURE, dated as of March 1, 2008 (hereinafter sometimes
referred to as “this Supplemental Indenture”), made and entered into by and between CONSUMERS
ENERGY COMPANY, a corporation organized and existing under the laws of the State of Michigan, with
its principal executive office and place of business at One Energy Plaza, in Jackson, Jackson
County, Michigan 49201, formerly known as Consumers Power Company (hereinafter sometimes referred
to as the “Company”), and THE BANK OF NEW YORK, a New York banking corporation, with its corporate
trust offices at 101 Barclay St., New York, New York 10286 (hereinafter sometimes referred to as
the “Trustee”), as Trustee under the Indenture dated as of September 1, 1945 between Consumers
Power Company, a Maine corporation (hereinafter sometimes referred to as the “Maine corporation”),
and City Bank Farmers Trust Company (Citibank, N.A., successor, hereinafter sometimes referred to
as the “Predecessor Trustee”), securing bonds issued and to be issued as provided therein
(hereinafter sometimes referred to as the “Indenture”),

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

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

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

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

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

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

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

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

          WHEREAS effective November 13, 2004, JPMorgan Chase Bank converted to a national banking
association and changed its name to JPMorgan Chase Bank, N.A.; and

1

 

          WHEREAS, effective October 2, 2006, The Bank of New York succeeded JPMorgan Chase Bank, N.A.
as Trustee under the Indenture; and

          WHEREAS the Indenture was executed and delivered for the purpose of securing such bonds as may
from time to time be issued under and in accordance with the terms of the Indenture, the aggregate
principal amount of bonds to be secured thereby being limited to $5,000,000,000 at any one time
outstanding (except as provided in Section 2.01 of the Indenture), and the Indenture describes and
sets forth the property conveyed thereby and is filed in the Office of the Secretary of State of
the State of Michigan and is of record in the Office of the Register of Deeds of each county in the
State of Michigan in which this Supplemental Indenture is to be recorded; and

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

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

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

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

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

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

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

          WHEREAS pursuant to a Trust Indenture, dated as of March 1, 2008 (the “MSF Trust Indenture”)
by and between the Michigan Strategic Fund, a Michigan public body corporate and politic of the
State of Michigan (the “Issuer”), and The Bank of New York, as trustee (together with any successor
trustee thereto, the “MSF Trust Indenture Trustee”), the Issuer has agreed to issue and sell
$27,900,000 principal amount of its Limited Obligation Refunding Revenue Bonds (Consumers Energy
Company Project), Collateralized Series 2008 (hereinafter sometimes called the “MSF Bonds”), in
order to provide funds for the refinancing of certain pollution control revenue bonds previously
issued by the Issuer to finance the costs of

2

 

constructing, acquiring, improving and installing certain solid waste disposal facilities of
the Company; and

          WHEREAS the Company has entered into a Loan Agreement, dated as of March 1, 2008 with the
Issuer (the “Loan Agreement”) in connection with the issuance of the MSF Bonds and pursuant to such
Loan Agreement the Company has agreed to issue a new series of bonds under the Indenture in order
to secure the payment of the MSF Bonds; and

          WHEREAS for such purposes the Company desires to issue a new series of bonds, to be designated
4.25% Series 2008 due June 15, 2010, each of which bonds shall also bear the descriptive title
“First Mortgage Bond” (hereinafter provided for and hereinafter sometimes referred to as the
“Series 2008 Bonds”), the bonds of which series are to be issued as registered bonds without
coupons and are to bear interest at the rate per annum specified herein and are to mature on June
15, 2010; and

          WHEREAS each of the registered bonds without coupons of the Series 2008 Bonds and the
Trustee’s Authentication Certificate thereon are to be substantially in the following form:

[FORM OF REGISTERED BOND OF THE SERIES 2008 BONDS]

[FACE]

CONSUMERS ENERGY COMPANY

FIRST MORTGAGE BOND, 4.25% SERIES 2008 DUE JUNE 15, 2010

			
	 	 	 
	No.
	 	$27,900,000                    

          Notwithstanding any provisions hereof or in the Indenture, this bond is not assignable or
transferable except as may be required to effect a transfer to any successor trustee under the
Trust Indenture, dated as of March 1, 2008 between the Michigan Strategic Fund and The Bank of New
York, as trustee, or, subject to compliance with applicable law, as may be involved in the course
of the exercise of rights and remedies consequent upon an Event of Default under said Trust
Indenture.

          CONSUMERS ENERGY COMPANY, a Michigan corporation (hereinafter called the “Company”), for value
received, hereby promises to pay to The Bank of New York, as trustee, or registered assigns, the
principal sum of Twenty-Seven Million Nine Hundred Thousand Dollars ($27,900,000) or such lesser
principal amount as shall be equal to the aggregate principal amount of the MSF Bonds (as defined
below) outstanding on June 15, 2010 and to pay to the registered holder hereof interest on said sum
at the rate and in the manner as set forth in the MSF Bonds (as defined below), until the principal
hereof shall have become due and payable, payable on June 15 and December 15 in each year (herein
referred to as an “interest payment date”).

          Under a Trust Indenture dated as of March 1, 2008 (hereinafter sometimes referred to as the
“MSF Trust Indenture”), between the Michigan Strategic Fund (hereinafter sometimes called “MSF”)
and The Bank of New York, as trustee (hereinafter, together with any successor

3

 

trustee thereto, sometimes called the “MSF Trust Indenture Trustee”), MSF has issued Limited
Obligation Refunding Revenue Bonds (Consumers Energy Company Project), Collateralized Series 2008
(hereinafter sometimes referred to as “MSF Bonds”). This bond was originally issued to MSF and
simultaneously and irrevocably assigned by the MSF to the MSF Trust Indenture Trustee so as to
secure the payment of the MSF Bonds. Payments of principal of, or premium, if any, or interest on,
the MSF Bonds shall constitute payments on this bond as further provided herein and in the
supplemental indenture pursuant to which this bond has been issued.

          The provisions of this bond are continued on the reverse hereof and such continued provisions
shall for all purposes have the same effect as though fully set forth at this place.

          This bond shall not be valid or become obligatory for any purpose unless and until it shall
have been authenticated by the execution by the Trustee or its successor in trust under the
Indenture of the certificate hereon.

          IN WITNESS WHEREOF, Consumers Energy Company has caused this bond to be executed in its name
by its Chairman of the Board, its President or one of its Vice Presidents by his or her signature
or a facsimile thereof, and its corporate seal or a facsimile thereof to be affixed hereto or
imprinted hereon and attested by its Secretary or one of its Assistant Secretaries by his or her
signature or a facsimile thereof.

     Dated:

	 	 	 	 	 
	 	 	CONSUMERS ENERGY COMPANY
	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	Its:	 	 
	 

	 	 	 	 

Attest:

	 	 	 
	 

Assistant Secretary

	 	 

4

 

[FORM OF TRUSTEE’S AUTHENTICATION CERTIFICATE]

TRUSTEE’S AUTHENTICATION CERTIFICATE

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

	 	 	 	 	 
	 	The Bank of New York, Trustee	 

	 
	 	By  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

[REVERSE]

CONSUMERS ENERGY COMPANY

FIRST MORTGAGE BOND, 4.25 % SERIES 2008 DUE JUNE 15, 2010

          The interest payable on any interest payment date will, subject to certain exceptions provided
in the Indenture hereinafter mentioned, be paid to the person in whose name this bond is registered
at the close of business on the record date, which shall be the first day of the month in which
such interest payment is due (whether or not a business day). The principal of and the premium, if
any, and the interest on this bond shall be payable at the office or agency of the Company in the
City of Jackson, Michigan designated for that purpose, in any coin or currency of the United States
of America which at the time of payment is legal tender for public and private debts; provided,
however, in the event of an Event of Default under the MSF Trust Indenture and the acceleration of
the MSF Bonds, such payments shall be payable at the corporate trust offices of the Trustee,
currently located at 101 Barclay Street, New York, New York.

          Upon payment of the principal of, or premium, if any, or interest on, the MSF Bonds, whether
at maturity or prior to maturity by redemption or otherwise, or upon provision for payment thereof
having been made in accordance with Article II of the MSF Trust Indenture, the principal of, and
premium, if any, on the Series 2008 Bonds and the interest thereon then due shall, to the extent of
such payment of principal, premium or interest, be deemed fully paid and the obligation of the
Company thereunder to make such payment shall forthwith cease and be discharged and, in the case of
the payment of principal and premium, if any, such Series 2008 Bonds shall be surrendered for
cancellation or presented for appropriate notation to the Trustee. The Trustee may at any time and
all times conclusively assume that the obligation of the Company to make payments with respect to
the principal of and premium, if any, and interest on the Series 2008 Bonds, so far as such
payments at the time have become due, has been fully

5

 

satisfied and discharged pursuant to the foregoing sentence unless and until the Trustee shall
have received a written notice from the MSF Trust Indenture Trustee signed by one of its officers
stating (i) that timely payment of principal of, or premium or interest on, the MSF Bonds has not
been made, (ii) that the Company is in arrears as to the payments required to be made by it to the
MSF Trust Indenture Trustee pursuant to the Loan Agreement after giving effect to any available
moneys in the Bond Fund provided by the MSF Trust Indenture, and (iii) the amount of the arrearage.

          This bond is one of the bonds issued and to be issued from time to time under and in
accordance with and all secured by an Indenture dated as of September 1, 1945, given by the Company
(or its predecessor of the same name, a Maine corporation) to City Bank Farmers Trust Company (The
Bank of New York, successor) (hereinafter sometimes referred to as the “Trustee”), and indentures
supplemental thereto, heretofore or hereafter executed, to which indenture and indentures
supplemental thereto (hereinafter referred to collectively as the “Indenture”) reference is hereby
made for a description of the property mortgaged and pledged, the nature and extent of the security
and the rights, duties and immunities thereunder of the Trustee and the rights of the holders of
said bonds and of the Trustee and of the Company in respect of such security, and the limitations
on such rights. By the terms of the Indenture, the bonds to be secured thereby are issuable in
series which may vary as to date, amount, date of maturity, rate of interest and in other respects
as provided in the Indenture.

          The Indenture contains provisions permitting the Company and the Trustee, with the consent of
the holders of not less than seventy-five per centum in principal amount of the bonds (exclusive of
bonds disqualified by reason of the Company’s interest therein) at the time outstanding, including,
if more than one series of bonds shall be at the time outstanding, not less than sixty per centum
in principal amount of each series affected, to effect, by an indenture supplemental to the
Indenture, modifications or alterations of the Indenture and of the rights and obligations of the
Company and the rights of the holders of the bonds and coupons; provided, however, that no such
modification or alteration shall be made without the written approval or consent of the holder
hereof which will (a) extend the maturity of this bond or reduce the rate or extend the time of
payment of interest hereon or reduce the amount of the principal hereof, or (b) permit the creation
of any lien, not otherwise permitted, prior to or on a parity with the lien of the Indenture, or
(c) reduce the percentage of the principal amount of the bonds the holders of which are required to
approve any such supplemental indenture.

          This bond is not redeemable by the operation of the improvement fund or the maintenance and
replacement provisions of the Indenture or by the use of proceeds of released property.

          This bond is redeemable on the respective dates and in the respective principal amounts which
correspond to the redemption dates for, and the principal amounts to be redeemed of, the MSF Bonds,
including provision for redemption upon demand of the MSF Trust Indenture Trustee following the
occurrence of an Event of Default under the MSF Trust Indenture and the acceleration of the MSF
Bonds.

          This bond shall not be assignable or transferable except as may be required to effect a
transfer to any successor trustee under the MSF Trust Indenture, or, subject to compliance with
applicable law, as may be involved in the course of the exercise of rights and remedies consequent
upon an Event of Default under the MSF Trust Indenture. Any such transfer shall be

6

 

effected at the Investor Services Department of the Company, as transfer agent (hereinafter
referred to as “corporate trust office”). This bond shall be exchangeable for other registered
bonds of the same series, in the manner and upon the conditions prescribed in the Indenture, upon
the surrender of such bonds at said corporate trust office of the transfer agent; provided,
however, in the event of an Event of Default under the MSF Trust Indenture, such corporate trust
office shall mean the corporate trust offices of the Trustee, currently located at 101 Barclay
Street, New York, New York. However, notwithstanding the provisions of Section 2.05 of the
Indenture, no charge shall be made upon any registration of transfer or exchange of bonds of said
series other than for any tax or taxes or other governmental charge required to be paid by the
Company.

          No recourse shall be had for the payment of the principal of or premium, if any, or interest
on this bond, or for any claim based hereon, or otherwise in respect hereof or of the Indenture, to
or against any incorporator, stockholder, director or officer, past, present or future, as such, of
the Company, or of any predecessor or successor company, either directly or through the Company, or
such predecessor or successor company, or otherwise, under any constitution or statute or rule of
law, or by the enforcement of any assessment or penalty, or otherwise, all such liability of
incorporators, stockholders, directors and officers, as such, being waived and released by the
holder and owner hereof by the acceptance of this bond and being likewise waived and released by
the terms of the Indenture.

[End of Form of Registered Bond of the Series 2008 Bonds.]

- - - - - - - - - - - - - - -

          AND WHEREAS all acts and things necessary to make the Series 2008 Bonds, when duly executed by
the Company and authenticated by the Trustee or its agent and issued as prescribed in the
Indenture, as heretofore supplemented and amended, and this Supplemental Indenture provided, the
valid, binding and legal obligations of the Company, and to constitute the Indenture, as
supplemented and amended as aforesaid, as well as by this Supplemental Indenture, a valid, binding
and legal instrument for the security thereof, have been done and performed, and the creation,
execution and delivery of this Supplemental Indenture and the creation, execution and issuance of
bonds subject to the terms hereof and of the Indenture, as so supplemented and amended, have in all
respects been duly authorized;

          NOW, THEREFORE, in consideration of the premises, of the acceptance and purchase by the
holders thereof of the bonds issued and to be issued under the Indenture, as supplemented and
amended as above set forth, and of the sum of One Dollar duly paid by the Trustee to the Company,
and of other good and valuable considerations, the receipt whereof is hereby acknowledged, and for
the purpose of securing the due and punctual payment of the principal of and premium, if any, and
interest on all bonds now outstanding under the Indenture and the $27,900,000 principal amount of
Series 2008 Bonds proposed to be issued initially and all other bonds which shall be issued under
the Indenture, as supplemented and amended from time to time, and for the purpose of securing the
faithful performance and observance of all covenants and conditions therein, and in any indenture
supplemental thereto, set forth, the Company has given, granted, bargained, sold, released,
transferred, assigned, hypothecated, pledged, mortgaged, confirmed, set over, warranted, alienated
and conveyed and by these presents does give, grant, bargain, sell, release, transfer, assign,
hypothecate, pledge, mortgage, confirm, set over, warrant, alienate and convey unto The Bank of New
York, as Trustee, as

7

 

provided in the Indenture, and its successor or successors in the trust thereby and hereby
created and to its or their assigns forever, all the right, title and interest of the Company in
and to all the property, described in Section 11 hereof, together (subject to the provisions of
Article X of the Indenture) with the tolls, rents, revenues, issues, earnings, income, products and
profits thereof, excepting, however, the property, interests and rights specifically excepted from
the lien of the Indenture as set forth in the Indenture.

          TOGETHER WITH all and singular the tenements, hereditaments and appurtenances belonging or in
any wise appertaining to the premises, property, franchises and rights, or any thereof, referred to
in the foregoing granting clause, with the reversion and reversions, remainder and remainders and
(subject to the provisions of Article X of the Indenture) the tolls, rents, revenues, issues,
earnings, income, products and profits thereof, and all the estate, right, title and interest and
claim whatsoever, at law as well as in equity, which the Company now has or may hereafter acquire
in and to the aforesaid premises, property, franchises and rights and every part and parcel
thereof.

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

          TO HAVE AND TO HOLD all said premises, property, franchises and rights hereby conveyed,
assigned, pledged or mortgaged, or intended so to be, unto the Trustee, its successor or successors
in trust and their assigns forever;

          BUT IN TRUST, NEVERTHELESS, with power of sale for the equal and proportionate benefit and
security of the holders of all bonds now or hereafter authenticated and delivered under and secured
by the Indenture and interest coupons appurtenant thereto, pursuant to the provisions of the
Indenture and of any supplemental indenture, and for the enforcement of the payment of said bonds
and coupons when payable and the performance of and compliance with the covenants and conditions of
the Indenture and of any supplemental indenture, without any preference, distinction or priority as
to lien or otherwise of any bond or bonds over others by reason of the difference in time of the
actual authentication, delivery, issue, sale or negotiation thereof or for any other reason
whatsoever, except as otherwise expressly provided in the Indenture; and so that each and every
bond now or hereafter authenticated and delivered thereunder shall have the same lien, and so that
the principal of and premium, if any, and interest on every such bond shall, subject to the terms
thereof, be equally and proportionately secured, as if it had been made, executed, authenticated,
delivered, sold and negotiated simultaneously with the execution and delivery thereof.

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

8

 

          SECTION 1. There is hereby created one series of bonds designated as hereinabove provided,
which shall also bear the descriptive title “First Mortgage Bond”, and the form thereof shall be
substantially as hereinbefore set forth. Series 2008 Bonds shall be issued in the aggregate
principal amount of $27,900,000, shall mature on June 15, 2010 and shall be issued only as
registered bonds without coupons in denominations of $5,000 and any multiple thereof. The serial
numbers of the Series 2008 Bonds shall be such as may be approved by any officer of the Company,
the execution thereof by any such officer either manually or by facsimile signature to be
conclusive evidence of such approval. Series 2008 Bonds shall bear interest at the rate per annum
borne by the MSF Bonds, until the principal thereof shall have become due and payable, specified in
the title thereof, payable on each interest payment date for the MSF Bonds in each year. The
principal of and the premium, if any, and the interest on said bonds shall be payable in any coin
or currency of the United States of America which at the time of payment is legal tender for public
and private debts, at the office or agency of the Company in the City of Jackson, Michigan
designated for that purpose; provided, however, in the event of an Event of Default under the MSF
Trust Indenture and the acceleration of the MSF Bonds, such payments shall be payable at the
corporate trust offices of the Trustee, currently located at 101 Barclay Street, New York, New
York.

          Upon payment of the principal of, and premium, if any, or interest on the MSF Bonds, whether
at maturity or prior to maturity by redemption or otherwise, or upon provision for payment thereof
having been made in accordance with Article II of the MSF Trust Indenture, the principal of, and
premium, if any, on the Series 2008 Bonds and the interest thereon then due shall, to the extent of
such payment of principal, premium or interest, be deemed fully paid and the obligation of the
Company thereunder to make such payment shall forthwith cease and be discharged, and, in the case
of such payment of principal and premium, if any, such Series 2008 Bonds shall be surrendered for
cancellation or presented for appropriate notation to the Trustee. The Trustee may at any time and
all times conclusively assume that the obligation of the Company to make payments with respect to
the principal of and premium, if any, and interest on the Series 2008 Bonds, so far as such
payments at the time have become due, has been fully satisfied and discharged pursuant to the
foregoing sentence unless and until the Trustee shall have received a written notice from the MSF
Trust Indenture Trustee signed by one of its officers stating (i) that timely payment of principal
of, or premium or interest on, the MSF Bonds has not been made, (ii) that the Company is in arrears
as to the payments required to be made by it to the MSF Trust Indenture Trustee pursuant to the
Loan Agreement after giving effect to any available moneys in the Bond Fund provided by the MSF
Trust Indenture, and (iii) the amount of the arrearage.

          Each Series 2008 Bond is to be irrevocably assigned to, and registered in the name of the MSF
Trust Indenture Trustee, to secure payment of the MSF Bonds, the proceeds of which have been
provided for the refunding of certain pollution control revenue bonds that the Company has agreed
to refund pursuant to the provisions of the Loan Agreement.

          Series 2008 Bonds shall not be assignable or transferable except as may be required to effect
a transfer to any successor trustee under the MSF Trust Indenture, or, subject to compliance with
applicable law, as may be involved in the course of the exercise of rights and remedies consequent
upon an Event of Default under the MSF Trust Indenture. Any such transfer shall be transferred at
the Investor Services Department of the Company, as transfer agent (hereinafter and in the Series
2008 Bonds referred to as “corporate trust office”). Series

9

 

2008 Bonds shall be exchangeable for other registered bonds of the same series, in the manner
and upon the conditions prescribed in the Indenture, upon the surrender of such bonds at said
corporate trust office of the transfer agent; provided, however, in the event of an Event of
Default under the MSF Trust Indenture, such corporate trust office shall mean the corporate trust
offices of the Trustee, currently located at 101 Barclay Street, New York, New York. However,
notwithstanding the provisions of Section 2.05 of the Indenture, no charge shall be made upon any
registration of transfer or exchange of bonds of said series other than for any tax or taxes or
other governmental charge required to be paid by the Company.

          SECTION 2. Series 2008 Bonds shall be redeemed on the respective dates and in the respective
principal amounts which correspond to the redemption dates for, and the principal amounts to be
redeemed of, the MSF Bonds.

          In the event the Company elects or is required to redeem any MSF Bonds prior to maturity in
accordance with the provisions of the MSF Trust Indenture, the Company may on the same date redeem
the Series 2008 Bonds in principal amounts and at prices corresponding to the MSF Bonds so
redeemed. In the event of an extraordinary optional redemption of any MSF Bonds, the Company
agrees to give the Trustee notice of any such redemption of the Series 2008 Bonds on the same date
as it gives notice of the extraordinary optional redemption of the MSF Bonds to the MSF Trust
Indenture Trustee.

          Series 2008 Bonds are not redeemable by the operation of the improvement fund or the
maintenance and replacement provisions of the Indenture or by the use of proceeds of released
property.

          SECTION 3. In the event of an Event of Default under the MSF Trust Indenture and the
acceleration of all MSF Bonds, the Series 2008 Bonds shall be redeemable in whole upon receipt by
the Trustee of a written demand (hereinafter called a “Redemption Demand”) from the MSF Trust
Indenture Trustee stating that there has occurred under the MSF Trust Indenture both an Event of
Default and a declaration of acceleration of payment of principal, accrued interest and premium, if
any, on the MSF Bonds, specifying the last date to which interest on the MSF Bonds has been paid
(such date being hereinafter referred to as the “Initial Interest Accrual Date”) and demanding
redemption of the Series 2008 Bonds. The Trustee shall, within five days after receiving such
Redemption Demand, mail a copy thereof to the Company marked to indicate the date of its receipt by
the Trustee. Promptly upon receipt by the Company of such copy of a Redemption Demand, the Company
shall fix a date on which it will redeem the Series 2008 Bonds so demanded to be redeemed
(hereinafter called the “Demand Redemption Date”). Notice of the date fixed as the Demand
Redemption Date shall be mailed by the Company to the Trustee at least ten days prior to such
Demand Redemption Date. The date to be fixed by the Company as and for the Demand Redemption Date
may be any date up to and including the earlier of (x) the 60th day after receipt by the Trustee of
the Redemption Demand or (y) the maturity date of the Series 2008 Bonds; provided, however, that if
the Trustee shall not have received such notice fixing the Demand Redemption Date on or before the
10th day preceding the earlier of such dates, the Demand Redemption Date shall be deemed to be the
earlier of such dates. The Trustee shall mail notice of the Demand Redemption Date (such notice
being hereinafter called the “Demand Redemption Notice”) to the MSF Trust Indenture Trustee not
more than ten nor less than five days prior to the Demand Redemption Date.

10

 

          Each of the Series 2008 Bonds shall be redeemed by the Company on the Demand Redemption Date
therefor upon surrender thereof by the MSF Trust Indenture Trustee to the Trustee at a redemption
price equal to the principal amount thereof plus accrued interest thereon at the rate borne by such
bond from the Initial Interest Accrual Date to the Demand Redemption Date plus an amount equal to
the aggregate premium, if any, due and payable on such Demand Redemption Date on all MSF Bonds;
provided, however, that in the event of a receipt by the Trustee of a notice from the MSF Trust
Indenture Trustee that, pursuant to Section 605 of the MSF Trust Indenture, the MSF Trust Indenture
Trustee has terminated proceedings to enforce any right under the MSF Trust Indenture, then any
Redemption Demand shall thereby be rescinded by the MSF Trust Indenture Trustee, and no Demand
Redemption Notice shall be given, or, if already given, shall be automatically annulled; but no
such rescission or annulment shall extend to or affect any subsequent default or impair any right
consequent thereon.

          SECTION 4. The Company reserves the right, without any consent, vote or other action by the
holder of the Series 2008 Bonds or of any subsequent series of bonds issued under the Indenture, to
make such amendments to the Indenture, as supplemented, as shall be necessary in order to amend
Section 17.02 to read as follows:

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

11

 

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

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

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

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

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

          SECTION 6. Nothing contained in this Supplemental Indenture shall, or shall be construed to,
confer upon any person other than a holder of bonds issued under the Indenture, as supplemented and
amended as above set forth, the Company, the Trustee and the MSF Trust

12

 

Indenture Trustee, for the benefit of the holder or holders of the MSF Bonds, any right or
interest to avail himself of any benefit under any provision of the Indenture, as so supplemented
and amended.

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

          SECTION 8. This Supplemental Indenture may be simultaneously executed in several counterparts
and all such counterparts executed and delivered, each as an original, shall constitute but one and
the same instrument.

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

          SECTION 10. This Supplemental Indenture and the Series 2008 Bonds shall be governed by and
deemed to be a contract under, and construed in accordance with, the laws of the State of Michigan,
and for all purposes shall be construed in accordance with the laws of such state, except as may
otherwise be required by mandatory provisions of law.

          SECTION 11. Detailed Description of Property Mortgaged:

I.

ELECTRIC GENERATING PLANTS AND DAMS.

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

II.

ELECTRIC TRANSMISSION LINES.

          All the electric transmission lines of the Company, constructed or otherwise acquired by it
and not heretofore described in the Indenture or any supplement thereto and not

13

 

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

III.

ELECTRIC DISTRIBUTION SYSTEMS.

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

IV.

ELECTRIC SUBSTATIONS, SWITCHING STATIONS AND SITES.

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

V.

GAS
COMPRESSOR STATIONS, GAS PROCESSING PLANTS, DESULPHURIZATION

STATIONS, METERING STATIONS, ODORIZING STATIONS, REGULATORS

AND SITES.

          All the compressor stations, processing plants, desulphurization stations, metering stations,
odorizing stations, regulators and sites of the Company, constructed or otherwise

14

 

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

VI.

GAS STORAGE FIELDS.

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

VII.

GAS TRANSMISSION LINES.

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

15

 

VIII.

GAS DISTRIBUTION SYSTEMS.

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

IX.

OFFICE BUILDINGS, SERVICE BUILDINGS, GARAGES, ETC.

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

X.

TELEPHONE PROPERTIES AND RADIO COMMUNICATION EQUIPMENT.

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

16

 

XI.

OTHER REAL PROPERTY.

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

ALCONA COUNTY

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

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

ALLEGAN COUNTY

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

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

ALPENA COUNTY

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

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

ANTRIM COUNTY

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

     The S 1/2 of the NE 1/4 of Section 33, T29N, R6W, excepting therefrom
all mineral, coal, oil and gas and such other rights as were

17

 

reserved unto the State of Michigan in that certain deed running from
the State of Michigan to August W. Schack and Emma H. Schack, his wife,
dated April 15, 1946 and recorded May 20, 1946 in Liber 97 of Deeds on page
682 of Antrim County Records.

ARENAC COUNTY

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

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

BARRY COUNTY

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

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

BAY COUNTY

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

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

18

 

BENZIE COUNTY

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

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

BRANCH COUNTY

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

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

CALHOUN COUNTY

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

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

CASS COUNTY

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

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

19

 

CHARLEVOIX COUNTY

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

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

CHEBOYGAN COUNTY

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

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

CLARE COUNTY

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

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

CLINTON COUNTY

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

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

CRAWFORD COUNTY

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

     A parcel of land in Section 1, T28N, R1W, described as: Commencing at
NW corner said section; thence South 89 degrees 53’30” East along North
section line 105.78 feet to point of beginning; thence South 89
degrees53’30” East along North section line 649.64 feet; thence South 55
degrees 42’30” East 340.24 feet; thence South 55 degrees 44’ 37” East
5,061.81 feet to the East section line; thence South 00 degrees

20

 

00’ 08” West along East section line 441.59 feet; thence North 55
degrees 44’ 37” West 5,310.48 feet; thence North 55 degrees 42’30” West
877.76 feet to point of beginning.

EATON COUNTY

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

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

EMMET COUNTY

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

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

GENESEE COUNTY

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

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

     Beginning at a point of the West line of Duffield Road, 100 feet wide,
(as now established) distant 829.46 feet measured N01 degrees42’56“W and 50
feet measured S88 degrees14’04“W from the South quarter corner, Section 8,
T5N, R5E; thence S88 degrees14’04“W a distance of 550 feet; thence N01
degrees42’56“W a distance of 500 feet to a point on the North line of the
South half of the Southwest quarter of said Section 8; thence N88
degrees14’04“E along the North line of South half of the Southwest quarter
of said Section 8 a distance 550 feet to a point on the West line of
Duffield Road, 100 feet wide (as now established); thence S01 degrees42’56“E
along the West line of said Duffield Road a distance of 500 feet to the
point of beginning.

GLADWIN COUNTY

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

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

21

 

GRAND TRAVERSE COUNTY

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

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

GRATIOT COUNTY

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

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

HILLSDALE COUNTY

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

     Lot 238 of Assessors Plat of the Village of Litchfield.

HURON COUNTY

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

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

INGHAM COUNTY

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

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

22

 

centerline extended 660.00 feet to the North-South 1/4 line of said
section; thence South 00 degrees07’20” West 1461.71 feet; thence North 89
degrees34’58” West 660.00 feet; thence North 00 degrees07’20” East 1457.91
feet to the centerline of Sitts Road and the place of beginning.

IONIA COUNTY

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

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

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

IOSCO COUNTY

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

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

ISABELLA COUNTY

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

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

23

 

JACKSON COUNTY

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

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

KALAMAZOO COUNTY

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

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

KALKASKA COUNTY

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

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

24

 

recorded June 21, 1963 in Liber 91 on page 631 of Kalkaska County
Records.

KENT COUNTY

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

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

LAKE COUNTY

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

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

LAPEER COUNTY

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

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

25

 

LEELANAU COUNTY

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

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

LENAWEE COUNTY

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

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

LIVINGSTON COUNTY

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

     Parcel 1

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

     Parcel 2

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

MACOMB COUNTY

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

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

26

 

said West line of the E 1/2 of the NW 1/4 of Section 6, 24.36 chains; thence
West 8.93 chains to the place of beginning, all in T3N, R13E.

MANISTEE COUNTY

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

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

MASON COUNTY

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

     Parcel 1

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

     Parcel 2

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

MECOSTA COUNTY

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

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

27

 

MIDLAND COUNTY

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

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

MISSAUKEE COUNTY

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

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

MONROE COUNTY

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

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

MONTCALM COUNTY

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

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

MONTMORENCY COUNTY

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

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

28

 

MUSKEGON COUNTY

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

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

NEWAYGO COUNTY

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

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

OAKLAND COUNTY

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

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

OCEANA COUNTY

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

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

OGEMAW COUNTY

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

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

OSCEOLA COUNTY

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

     A parcel of land in the North 1/2 of the Northeast 1/4 of Section 13,
T17N, R9W, described as commencing at the Northeast corner of said Section;
thence West along the North Section line 999 feet to the point of beginning
of this description; thence S 01 degrees 54’ 20” E

29

 

1327.12 feet to the North 1/8 line; thence S 89 degrees 17’ 05” W along the North
1/8 line 330.89 feet; thence N 01 degrees 54’ 20” W 1331.26 feet to the
North Section line; thence East along the North Section line 331 feet to the
point of beginning.

OSCODA COUNTY

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

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

OTSEGO COUNTY

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

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

OTTAWA COUNTY

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

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

PRESQUE ISLE COUNTY

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

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

30

 

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

ROSCOMMON COUNTY

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

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

SAGINAW COUNTY

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

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

SANILAC COUNTY

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

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

SHIAWASSEE COUNTY

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

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

31

 

ST. CLAIR COUNTY

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

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

ST. JOSEPH COUNTY

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

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

TUSCOLA COUNTY

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

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

VAN BUREN COUNTY

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

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

32

 

WASHTENAW COUNTY

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

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

WAYNE COUNTY

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

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

WEXFORD COUNTY

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

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

33

 

          SECTION 12. The Company is a transmitting utility under Section 9501(2) of the Michigan
Uniform Commercial Code (M.C.L. 440.9501(2)) as defined in M.C.L. 440.9102(1)(aaaa).

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

34

 

	 	 	 	 	 	 	 
	 	 	CONSUMERS ENERGY COMPANY	 	 
	 
	 	 	 	 	 	 
	(SEAL)

	 	By
	 	/s/ Laura L. Mountcastle	 	 
	 

	 	Name
	 	 

Laura L. Mountcastle
	 	 
	 

	 	Title
	 	Vice President and Treasurer	 	 

	 	 	 
	Attest:
	 	 
	 
	 	 
	/s/ Joyce H. Norkey
	 	 
	 

Joyce H. Norkey

	 	 
	Assistant Secretary
	 	 
	 
	 	 
	Signed, sealed and delivered
	 	 
	by CONSUMERS ENERGY COMPANY
	 	 
	in the presence of
	 	 
	 
	 	 
	/s/ Kimberly C. Wilson
	 	 
	 

Kimberly C. Wilson

	 	 
	 
	 	 
	/s/ Sharon K. Davis
	 	 
	 

Sharon K. Davis

	 	 

	 	 	 	 	 	 	 
	STATE OF MICHIGAN

	 	 	)	 	 	 
	 

	 	 	 	 	 	ss.
	COUNTY OF JACKSON

	 	 	)	 	 	 

          The foregoing instrument was acknowledged before me this 14th day of March 2008, by Laura L.
Mountcastle, Vice President and Treasurer of CONSUMERS ENERGY COMPANY, a Michigan corporation, on
behalf of the corporation.

	 	 	 	 	 
	 

	 	/s/ Margaret Hillman	 	 
	 

	 	 

Margaret Hillman, Notary Public
	 	 
	[SEAL]

	 	State of Michigan, County of Jackson	 	 
	 

	 	My Commission Expires: June 14, 2010	 	 
	 

	 	Acting in the County of Jackson	 	 

S-1 

 

	 	 	 	 	 	 	 
	 	 	THE BANK OF NEW YORK, AS TRUSTEE	 	 
	 
	 	 	 	 	 	 
	(SEAL)

	 	By
	 	/s/ L. O’Brien	 	 
	 

	 	 	 	 

L. O’Brien
	 	 
	Attest:

	 	 	 	Vice President	 	 

	 	 	 
	/s/ Francine Kincaid
	 	 
	 

	 	 
	Francine Kincaid
	 	 

Signed, sealed and delivered

by THE BANK OF NEW YORK

in the presence of

	 	 	 
	/s/ Shno Wang
	 	 
	 

	 	 
	Shno Wang

	 	 
	 
	 	 
	/s/ Josip Antoles
	 	 
	 

	 	 
	Josip Antoles
	 	 

	 	 	 	 	 	 	 
	STATE OF NEW YORK

	 	 	)	 	 	 
	 

	 	 	 	 	 	ss.
	COUNTY OF NEW YORK

	 	 	)	 	 	 

          The foregoing instrument was acknowledged before me this 12th day of March, 2008, by L.
O’Brien, a Vice President of The Bank of New York, a New York banking corporation, on behalf of the
bank, as trustee.

	 	 	 	 	 
	 

	 	/s/ Gerold Picard	 	 
	 

	 	 

	 	 
	 

	 	Notary Public, State of New York	 	 
	[Seal]
	 	 	 	 
	 

	 	Gerold Picard	 	 
	 

	 	Notary Public, State of New York	 	 
	 

	 	No. 01P16128836	 	 
	 

	 	Qualified in Nassau County	 	 
	 

	 	Commission Expires June 20, 2009	 	 
	 
	 	 	 	 
	Prepared by:

	 	When recorded, return to:	 	 
	Kimberly C. Wilson

	 	Consumers Energy Company	 	 
	One Energy Plaza

	 	Business Services Real Estate Dept.	 	 
	Jackson, MI 49201

	 	Attn: Tracy VanWoert EP7-438	 	 
	 

	 	One Energy Plaza	 	 
	 

	 	Jackson, MI 49201	 	 

S-2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00141-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00141-of-00352.parquet"}]]