ML110260397

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Evidence of Financial Protection
ML110260397
Person / Time
Site: Palo Verde  Arizona Public Service icon.png
Issue date: 01/21/2011
From: Price C
McGriff, Seibels & Williams
To:
Document Control Desk, Office of Nuclear Reactor Regulation
References
Download: ML110260397 (47)
v • d • e


Text

McGRIFF, SEIBELS & WILLIAMS, INC.

  • i3/4 ~ NSURNC7E,,BRROK1ERS §'

January 21, 2011 Nuclear Regulatory Commission Attn: Document Control Desk Washington, D.C. 20555-0001 RE: Palo Verde Nuclear Generating Plant Arizona Public Service Company, et al 2011 Evidence of Financial Protection To whom it may concern:

Enclosed in compliance with 10 CFRI 40.15e, please find certified copies of renewal endorsements for the following:

Nuclear Energy Liability Policy Facility Worker Form Certificate No. NW-0625 Endorsement 15 Policy Aggregate Limit - $375,000,000 Nuclear Energy Liability Policy Facility Form Policy No. NF-0266 Endorsement 148 Limit of Liability - $375,000,000 Master Policy - Nuclear Energy Liability Insurance Secondary Financial Protection o Certificate No. N-0088 Endorsement 47 o Certificate No. N-0107 Endorsement 48 o Certificate No. N-01 14 Endorsement 43 Also enclosed for your reference are copies of declaration pages and limit endorsements for each policy. The certificated copies of these documents were previously provided.

Please advise if you require additional information.

,)h"nkYou,

/ i/

II C el I Price WHOC

',-As 'stant Vic resident

-24 5-581-9462 2211 7th Avenue South / Birmingham, Alabama 35233 P.O. Box 10265 / Birmingham, Alabama 35202-0265 cprice@mcgriff.com TEL-(205) 252-9871 FAX-(205) 581-9293 www.mcgriff.com

NUCLEAR ENERGY LIABILITY INSURANCE NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION ADVANCE PREMIUM AND STANDARD PREMIUM ENDORSEMENT CALENDAR YEAR 2011

1. ADVANCE PREMIUM: It is agreed that the Advance Premium due the companies for the period designated above is: $156,897.00
2. STANDARD PREMIUM AND RESERVE PREMIUM: In the absence of a change in the Advance Premium indicated above, it is agreed that, subject to the provisions of the Industry Credit Rating Plan, the Standard Premium is said Advance Premuim and the Reserve Premium is: $120,150.00 This is to certify that this is a true copy of the original Endorsement having the endorsement number and being made part of the Certificate of Insurance bearing the number designated heron for insurance coverage under the Nuclear Energy Liability Policy (Facility Workers Form). No insurance is afforded hereunder.

5',O V i4euren -

Gary S.$chio, Vice President -Underwriting America~ uclear Insurers Effective Date of this Endorsement: January 1, 2011 To form a part of Certificate No. NW -0625 (12:01 A.M. Standard Time)

Issued To: Arizona Public Service Company, et al Date of Issue: November 8, 2010 For the subscribing companies By . Preidt President Endorsement No: 15 Countersigned by CERTIFIED COPY

NUCLEAR ENERGY LIABILITY INSURANCE NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION AMENDATORY ENDORSEMENT INCREASE OF POLICY AGGREGATE LIMIT (Facility Worker Form)

1. The Policy Aggregate Limit stated in paragraph A. 1. of Section VIII, AMOUNT OF INSURANCE AVAILABLE, as amended by Endorsement No. 7, is further amended to read $375 million.

The increase in the Policy Aggregate Limit provided by this endorsement applies only with respect to obligations assumed and expenses incurred because of bodily injury under all workers' claims that qualify for coverage under this policy caused from the effective date of this endorsement to the date of termination or expiration of this policy.

2. The original Policy Aggregate Limit stated in paragraph A.1. of Section VIII, AMOUNT OF INSURANCE AVAILABLE, the amended Policy Aggregate Limit stated in Endorsement No. 7, and the amended Policy Aggregate Limit stated in paragraph 1 above shall not be cumulative, and each payment made by the companies after the effective date of this endorsement for any loss or expense covered by the policy shall reduce by the amount of such payment each of those Policy Aggregate Limits, regardless of which Policy Aggregate Limit applies with respect to the bodily injury out of which such loss or expense arises.
3. In paragraph C.2. of Section VIII, AMOUNT OF INSURANCE AVAILABLE, the term

"$400 million", as amended by Endorsement No. 7, is further amended to read "$750 million".

Effective Date of this Endorsement: January 1, 2010 To form a part of Nuclear Energy Liability Policy (12:01 A.M. Standard Time)

(Facility Worker Form) which is a Master Worker Policy in the custody of Nuclear Energy Liability Insurance Association Date of Issue: December 5, 2009 For the subscribing companies By President 6rPresident Endorsement No.: 18 Countersigned by ldL~Ži MWP-2-3 (1/1/10)

NUCLEAR ENERGY LIABILITY INSURANCE NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION NUCLEAR ENERGY LIABILITY POLICY (Facility Worker Form) herein called the MASTER WORKER POLICY CERTIFICATE OF INSURANCE Certificate No. NW - 0625 Date of Issue December 15 , 19 97 This is to certify that the insureds named in Item 1 of the Declarations hereof, hereinafter called the "Named Insureds", have obtained insurance under the Master Worker Policy issued by Nuclear Energy Liability Insurance Association on behalf of its members. The insurance is subject to all of the provisions of this "Certificate" and the Master Worker Policy.

1 DECLARATIONS Item 1. Named Insureds and Addresses:

Arizona Public Service Company, et al P. 0. Box 53999, Station 8434, Phoenix, AZ 85072-3999 Southern California Edison Company P. 0. Box 800, Rose Mead, CA 91770 Salt River Project Agricultural Improvement and Power District P. 0. Box 52025, Phoenix, AZ 85072-2025 Public Service Company of New Mexico, Alvarado Square, Albuquerque, NM 87158 El Paso Electric Company, P. 0. Box 982, El Paso, TX 79946 Southern California Public Power Authority Association, c/o Los Angeles Dept.

of Water & Power, 111 North Hope Street, Los Angeles, CA 90012 Department of Water and Power of the City of Los Angeles 111 North Hope Street, Los Angeles, CA 90012 Item 2. Certificate Coverage Period:

Beginning at 12:01 a.m. on January 1, 1998, Eastern Standard Time and continuing through the effective date of cancellation or termination of this Certificate.

NMWPC-2 Page 1 of3

Item 3. Description of the Facility:

Location: All of the premises including the land and all buildings and structures of the Palo Verde Nuclear Generating Station, including, but not limited to, Units 1, 2, and 3, the Switchyard, Visitor's Center, Wastewater Effluent Treatment Plant, and all other ancillary facilities located on a site consisting of approximately 4,050 acres in Maricopa County, Southwestern Arizona.

Type: Power Reactor Operator of the Facility: Arizona Public Service Company Facility Form Inception Date: August 7, 1981 (12:01 A.M. Standard Time)

Item. 4. Amount of Insurance Available:

The amount of insurance afforded by the Master Worker Policy through this Certificate shall be determined by Section VIII of the Master Worker Policy and all of the other provisions of the policy relating thereto.

Item 5. Advance Premium: $ 69,300.

2 APPLICATION OF CERTIFICATE This Certificate applies only to bodily injury to a worker which (1) is caused by the nuclear energy hazard on or after the Facility Form Inception Date stated in Item 3 above, (2) is first reported to the companies on or after 12:01 a.m. on January 1, 1998, Eastern Standard Time and (3) is discovered and for which written claim is made against the insured, not later than one year after the end of the Certificate Coverage Period.

NMWPC-2 Page 2 of 3

IN WITNESS WHEREOF, the companies subscribing the Master Worker Policy have caused this Certificate to be executed and attested on their behalf by the President of Nuclear Energy Liability Insurance Association and duly countersigned by an authorized representative.

For the Subscribing Companies of NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION George D. Turner, President By Countersigned by:

(Authorized Representative) 4 1

,...> \ /

NMWPC-2 Page 3 of 3

NUCLEAR ENERGY LIABILITY INSURANCE NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION ADVANCE PREMIUM AND STANDARD PREMIUM ENDORSEMENT CALENDAR YEAR 2011

1. ADVANCE PREMIUM: It is agreed that the Advance Premium due the companies for the period designated above is: $1,256,854.00
2. STANDARD PREMIUM AND RESERVE PREMIUM: In the absence of a change in the Advance Premium indicated above, it is agreed that, subject to the provisions of the Industry Credit Rating Plan, the Standard Premium is said Advance Premuim and the Reserve Premium is: $964,534.00 This is to certify that this is a true copy of the original Endorsement having the endorsement number and being made part of the Nuclear Energy Liability Policy (Facility Form) as designated heron. No insurance is afforded hereunder.

G liO ViCeuPresident U nde rwriting America uclerIsrr Effective Date of this Endorsement: January 1, 2011 To form a part of Policy No. NF -0266 (12:01 A.M. Standard Time)

Issued To: Arizona Public Service Company, et al Date of Issue: December 2, 2010 For the subscribing companies By iP President Countersigned by_______ _______

Endorsement No: 148 CERTIFIED COPY NE-36

NUCLEAR ENERGY LIABILITY INSURANCE NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION INCREASE OF LIMIT OF LIABILITY ENDORSEMENT (After Prior Increase)

It is agreed that:

1. The limit of the companies' liability stated in Item 4 of the declarations as amended by the Increase of Limit of Liability Endorsement(s) listed below is further amended to read $ 375,000,000; but in the event that any payments have heretofore been made by the companies for loss or expense covered by the policy, each of those limits of liability including the limit of liability as amended by this endorsement is reduced in accordance with Condition 3 of the policy by the total amount of those payments, except to the extent that any such reduced limit of liability may have been previously restored in accordance with a Restoration of Limit of Liability Endorsement.
2. The increase in the limit of liability provided by this endorsement applies only with respect to obligations assumed or expenses incurred because of bodily injury, property damage, environmental damage or evacuation of the public caused, during the period from the effective date of this endorsement to the date of termination of the policy, by the nuclear energy hazard.
3. The original limit of liability stated in Item 4 of the declarations, the limit(s) of liability stated in the Increase of Limit of Liability Endorsement(s) listed below and the amended limit of liability stated in paragraph 1 above shall not be cumulative, and each payment made by the companies after the effective date of this endorsement for any loss or expense covered by the policy shall reduce by the amount of such payment each of those limits of liability, regardless of which limit of liability applies with respect to the bodily injury, property damage, environmental damage or evacuation of the public out of which such loss or expense arises.

Previous Increase of Limit of Liability Endorsement(s)

Endorsement No.(s): 9, 23, 47, 92, 97 and 117 Effective Date of this Endorsement: January 1, 2010 To form a part of Policy No. NF -0266 (12:01 A.M. Standard Time)

Issued to: Arizona Public Service Company, et al Date of Issue: December 5, 2009 For the subscribing compaies By 7 "0- President Endorsement No.: 144 Countersigned by ,___..._.____,,_, ___r_

coPY

NUCLr.AR ENERGY LIABILITY INSURANCE NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION AMENDMENT OF CONDITION 4 It is agreed that with respect to bodily injury, property damage, environmental damage or evacuation of the public caused after the effective date of this endorsement by the nuclear energy hazard, the figure "$300,000,000" stated in Condition 4 of this policy is amended to read

"$375,000,000".

Effective Date of this Endorsement: January 1, 2010 To form a part of Policy No. NF -0266 (12:01 A.M. Standard Time)

Issued to: Arizona Public Service Company, et al Date of Issue: December 5, 2009 For the subscribing companies ByPresiden President Endorsement No.: 143 Countersigned by ,, 4$-- ' _AZ.,4.-

COPY 6/

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NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION 127 John Street, New York, New York 10038 Nucleit Energy Liability Policy No. NF-.. 266 (Facility Form)

DICLARATIONS Arizona Public Service Company, Southern California Edison Company, Salt River Project Agricultural Improvement and Power District, Item1. N=are Insun Public Service Company of New Mexico and El Paso Electric Company Add,., Arizona Public Service Co. P.O. Box 21666 Phoenix, Arizona (No. Street Town or City State)

Item2. Policy Period: Begiining at 12:01 A.M. on the 7th _&y of August- .981- and continuig thtouih the eflectivie date of the cancelation or teimination of this policy, standard time at the address of the named insured as stated herein.

Item 3. Description of the Facility:

1xation All of the premises including the land and all buildings and structures of Arizona Public Service Company's Palo Vtrde Nuclear Generating Statinn (including but not limited to Units 1, 2. and 3) situated on a site consisting of approximately 3,800 acres and located in Maricopa County in south western Arizona approximately 15 miles west of the city of Buckeye and 36 miles of the city of ON Phoenix.

Type Power Reactor The Operator of the facility i Arizona Public Service Company hem 4. The limit of the companies" liability is $ 1 ,000,O0O subject to all the terms of this policy having reference thetetu.

Item 3. Advance Premium $ 1 00. 00 Item 6. These declarations and the schedules forming a part hereof give a complete desctiption of the facility, insof . it to the nuclesr energy hazard, except as noted no exceptions

.V Date of Issue August 13 .19 81 . CountersignEd by-Authorized R.ePresentat.ave Nuclear Energy L.iability Policy (Facility Form) 2/t/57 (Second Revision)

NUCLEAR ENERGY LIABILITY INSURANCE NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION ANNI TAT. PREMII TM ENDORSEMENT CALENDAR YEAR 2011

1. ANNUAL PREMIUM: It is agreed that the Annual Premium due the companies for the period designated above is: $9,492.00 This is to certify that this is a true copy of the original Certificate, bearing the number designated heron, for insurance coverage under the Master Policy-Nuclear Energy Liability Insurance (Secondary Financial Protection). No insurance is afforded by this copy.

Gary* a)Cchia Vice President Underwriting Am eric~a uclerIsrr Effective Date of this Endorsement: January 1, 2011 To form a part of Certificate No. N -0088 (12:01 A.M. Standard Time)

Issued To: Arizona Public Service Company, et al Date of Issue: November 5, 2010 For the subscribing companies ByPs President Endorsement No: 47 Countersigned by____________

CERTIFIED COPY

NUCLEAI0 ENERGY LIABILITY INSRANCE NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION ENDORSEMENT TO CERTIFICATE NO. N -0088 Forming Part of Master Policy No. 1 Nuclear Energy Liability Insurance (Secondary Financial Protection)

It is agreed that effective January 1, 2010, Item 4. (a) of the certificate is amended to read as follows:

Item 4. (a) Identification of primary financial protection applicable to the nuclear reactor and limit(s) of liability thereof:

(1) Facility Form Policy:

Nuclear Energy Liability Insurance Association's Policy NF -0266 $375,000,000 (2) Master Worker Policy (Facility Worker Form):

Nuclear Energy Liability Insurance Association's Master Worker Policy NMWP-2 $375,000,000 Effective Date of this Endorsement: January 1, 2010 To form a part of Certificate No. N -0088 (12:01 A.M. Standard Time)

Issued to: Arizona Public Service Company, et al Date of Issue: December 5, 2009 For the subscribing companies President Endorsement No.: 45 Countersigned by -I &4ýý-

NE-S-29 (1/1/10)

COPY

NUCLEAR ENERGY LIABILITY INSUtANCE NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION ENDORSEMENT TO CERTIFICATE NO. N -0088 Forming Part of Master Policy No. I Nuclear Energy Liability Insurance (Secondary Financial Protection)

It is agreed that effective October 29, 2008, Item 7. of the certificate is amended to read as follows:

Item 7. Maximum retrospective premium (exclusive of allowance for premium taxes) payable pursuant to Condition 2 of the Master Policy with respect to each nuclear incident: $117,495,000.

Effective Date of this Endorsement: October 29, 2008 To form a part of Certificate No. N -0088 (12:01 A.M. Standard Time)

Issued to: Arizona Public Service Company, et al Date of Issue: October 29, 2008 For the subscribing cornIpies C O President Endorsement No.: 43 Countersigned by _ _ _ _ _ _ _ _ _

NE-S-28 COPY

Nuclear Energy Lisbility Insurance NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION SPECIFICATION OF CERTIFICATE EFFECTIVE DATE AND PREMIUM ENDORSEMENT It is agreed that:

1. The United States Nuclear Regulatory Commission has issued to the insureds name in Item 1 of the Declarations Operating License No.NPF-34 effective December 31, 1984 for the reactor described in Item 3 f the Declarations of the certificate.
2. Item 6 of the Declarations of the Certificate is deleted and replaced by the following:

Item 6. Certificate Period: Beginning December 31, 1984 and continuing to the effective date and time of cancellation or termination of the Master Policy or this Certificate, whichever first occurs, eastern standard time.

3. Item 8 of the Declarations of the Certificate is deleted and replaced by the following:

Item 8. Portion of the annual premium payable for the companies' contingent liability described in Condition 4 of the Master Policy from the effective date hereof to the en of calendar year 1984  : $ 13.95 Effective Date of 1-88 tnis EnoorbomentArzo nPlrember 31. 1984_

1ý01 A(M. slanulard Tim "

Tn form a panr of Certi ficate 0.o 1%-

ucto Arizona Public j ervce Company, Salt River Project Agricultural Impr .nt Di s t r i c t , -l P. a s o El ec t r i c mp a n y --Sb Ut thr-en ,a Iaf o r n l d E d luk Co ui MRp,"I,Iy.

Ma t r Date of gsu. January 9, 1985 Company of New Mexico -o the sucrolng and Southern California PubiT~\'

Power Authority () . .- v .

Endaorsemnent No I_________

NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION Certificate No. N-88 Forming Part of Master Policy No. 1 CERTIFICATE OF INSURANCE DECLARATIONS AND BOND FOR PAYMENT OF RETROSPECTIVE PREMIUMS Certificate of Insurance This is to certify that the persons and organizations designated in Item I of the Declarations are named insureds under the Master Policy -

Nuclear Energy Liability Insurance (Secondary Financial Protection), herein called the "Master Policy",issued by Nuclear Energy Liability Insurance Association.

Such insurance as is provided by the Master Policy-applies, through this certificate, only:

(a) to the insureds identified in Items I and 2 of the Declarations, (b) for the certificate period stated in Item 6 of the Declarations, (c) to bodily injury or property damage (1) with respect to which the primary financial protection described in Item 4 of the Declarations would apply but for exhaustion of its limit of liability as described in Condition 6 of the Master Policy, and (2) which is caused during the certificate period stated in Item 6 of the Declarations by a nuclear incident arising out of or in connection with the nuclear reactor described in Item 3 of the Declarations, and NSFC-1 (1/1/83) Page I

/JA (3) which is discvered and for which written claim is made against the insured not later than ten years after the end of the certificate period stated in Item 6 of the Declarations.

However, with respect to bodily injury or property damage caused by an extraordinary nuclear occurrence this subparagraph (3) shall not-operate to bar coverage for bodily injury or property damage which is discovered and for which written claim is made against the insured not later than twenty years after the date of the extraordinary nuclear occurrence.

Declarations Item 1. Named insureds and addresses:

(a) Arizona Public Service Company-P.O. Box 21666, Phoenix, Arizona 85036 (b) Salt River Project Agricultural Improvement and Power District-P.O. Box 1980, Phoenix, Arizona 85001 (c) El Paso Electric Company-P.O. Box 982, El Paso, Texas 79946 (d) Southern California Edison Company-P.O. Box 800, Rose Mead, California 91770 (e) Public Service Company of New Mexico-Alvarado Square, Albuquerque, New Mexico 87158 (f) Southern California Public Power Authority-c/o Los Angeles Department of Water & Power, 111 North Hope Street, Los Angeles, California 90012 Page 2 of Certificate No. N-_88

Item 2. Additional insureds:

Any other person or organization who would be insured under!-the primary financial protection identified in Item 4 of the Declarations but for exhaustion of the limit of liability of such primary financial protection.

Item 3. Description and location of nuclear reactor: Unit 1 of the Palo Verde Nuclear Generating Station is located in Maricopa County, Arizona.

Item 4. (a) Identification of primary financial protection applicable to the nuclear reactor and limit(s) of liability thereof:

Nuclear Energy Liability Insurance Association's Policy NF- 266 $124,000,000 Mutual Atomic Energy Liability Underwriters' Policy MF- $ 36,000,000 (b) The following endorsements, attached to the primary financial protection policies listed in Item 4 (a) also apply to the insurance afforded by the Master Policy through this certificate as though they were attached hereto:

(1) Waiver of Defenses Endorsement (Extraordinary Nuclear Occurrence) and (2) Supplementary Endorsement - Waiver of Defenses - Reactor Construction at the Facility, Page 3 of Certificate No. N-88

(b) ie foliowing endorsements, attached to the primary financial protection policies listed in Item 4 (a) also apply to the insurance afforded by the Master Policy through this certificate as though they were attached hereto:

(1) .laiver of Defenses Endorsement (Extraordinary Nuclear Occurrence) and (2) Supplementary Endorsement - Waiver of Defenses - Reactor Construction at the Facility, (c) The limits of liability provided under the primary financial protection specified in Item 4 (a) above are not shared with any other reactor except as follows:

no exception Item 5. Limits of Liability: The amount of retrospective premium actually received by the companies plus the amount of the companies' con-tingent liability, if any, pursuant to Conditions 2, 3 and 4 of the Master Policy.

Item 6. Certificate Period: Beginning at the same time and date that the Facility Operating License issued by the United States Nuclear Regulatory Commission for the reactor described in Item 3 of this certificate becomes effective and continuing to the effective date and time of cancellation or termination of the Master Policy or this certificate, whichever first occurs, eastern standard time.

Item 7. Maximum retrospective premium (exclusive of allowance for premium taxes) payable pursuant to Condition 2 of the Master Policy with respect to each nuclear incident: $3,875,000.

Item 8. Portion of the annual premium payable for the companies' contingent liability described in Condition 4 of the Master Policy from the effective date hereof to the end of calendar year 1983  :: The, pro rata portion of $4,650 for the period from the effective date of this certificate to the end of the calendar year during which such effective date occurs.

Page 4 of Certificate No. N-88

BOND FOR PAYMENT OF RETROSPECTIVE PREMIUMS Know All Men By These Presents, that the undersigned do hereby acknowledge that they are named insureds under the Master Policy described in the above Certificate of Insurance and Declarations. The named insureds do hereby covenant with and are held and are firmly bound to the members of Nuclear Energy Liability Insurance Association subscribing the Master Policy (hereinafter called the "companies") to pay to the companies all retrospective premiums and allowances for premium taxes which shall become due and payable in accordance with the Master Policy, as it may be changed from time to time, with interest on such premiums and allowances for taxes to be computed at the rate provided in the Master Policy from the date pay-ment thereof is specified to be due the companies in written notice to the first named Insured as provided in Condition 2 of the Master Policy until paid; And it is hereby expressly agreed that copies of written notices of retro-spective premiums and allowances for premium taxes due and payable or other evidence of such amounts due and payable. sworn to by a duly authorized representative of the companies shallbe prima facie evidence of the fact and extent of the liability of the named insureds for such amounts; And it is further expressly agreed that the named insureds will indemnify the companies against any and all liability, losses and expenses of whatsoever kind or nature (including but not limited to interest, court costs, and counsel fees) which the companies may sustain or incur (1) by reason of the failure of the named insureds to comply with the covenants and provisions of this Bond and (2) in enforcing any of the covenants or provisions of this Bond, or any provisions of the Master Policy relating to such covenants or provisions; For the purpose of recording this agreement, a photocopy acknowledged before a Notary Public to be a true copy hereof shall be regarded as an original.

Page 5 of Certificate No. N-88

The preceding Certificate of Insurance, Declarations and Bond form a part of the Master Policy. Cancellation or termination of the Master Policy or the Certificate of Insurance shall not affect the named insured's obligations under the policy or the, tBond to pay the retrospective premiums and allowances for premium taxes, as provided in this Certificate and Condition 2 of the Master Policy.

IN WITNESS WHEREOF, the named insureds have caused this Certificate, these Declarations and this Bond for Payment of Retrospective Premiums, to be signed and sealed by a duly authorized officer, to be effective as of the time and date of the inception of the Certificate period.

Attest or Witness Named Insureds:

Arizona Public Service Company (Named Insured - Type or Print)

By (SEAL)

Partner, Snel4 & Wilmer gnrt ure of0ff ~ý T. G. Woods, Jr., Executive Vice President (Type or Print Name & Title of Officer)

Date:

Salt River Project Agricultural Improvement and Power District (Namd. ud -Type or Print)

By (SEAL)

Partner, Snell Wmer (Signatr /of Officer)

R. D. Johnson, Manager, Generation Dept.

(Type or Print Vame & Title of Officer)

Date:

El Paso Electric Company (Named Insured - Type or Print)

By -- *e. 5__., ý (SEAL)

( S ignat u reC--eý i cer )"

Partner, Snell/ Wilmer R. E. York. Senior Vice Pre1idpnt (Type or Print Name & Title of Officer)

Date: 4?1444 Pacie 6 of Certificate tfn.N- 88

Attest or Witness Named Insureds:

Southern California Edison Company (Named Insured - Type or Print)

By, .(SEAL)

Partner, Snell & Wilmer (Signature of Officer)

Robert Dietch, Vice President (Type or Print Name & Title of Officer)

Date: 5/E s/&-

Public Service Company of New Mexico (Named Insured - Type or Print)

By (SEAL)

Partner, SnelV,& Wilmner (Signature of fficer)

C. D. Bedford, Vice President (Type or Print Name & Title of Officer)

Date: . /Z.

/

Southern California Public Power Authority (Named Insured - Type or Print)

&JA,&A" By. "aQ, C- ý"Z __ (SEAL)

(SignAture of Officer)

(Type or Prit Name & jitle of Officer)

Date: G is (Named Insured - Type or Print)

By (SEAL)

(Signature of Officer)

(Type or Print Name & Title of Officer)

Date:

Page_ of Certificate No.N-88

  • e~'.~

IN WITNESS WHEREOF, the companies subscribing the Master Policy have caused the Certificate of Insurance and the Declarations to be signed on their behalf by the President of Nuclear Energy Liability Insurance Association to be effective as of the time and date of the inception of the Certificate period, and countersigned below by a duly authr;,tized representative.

Attest or Witness For the Subscribing Companies of NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION 4BY: a ver-W11- Burt C. Proom, President Countersigned by Page 8 of Certificate No. N- 88

NUCLEAR ENERGY LIABILITY INSURANCE NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION ANNI JAI. PREMIIJM ENDORSEMENT CALENDAR YEAR 2011

1. ANNUAL PREMIUM: It is agreed that the Annual Premium due the companies for the period designated above is: $9,492.00 This is to certify that this is a true copy of the original Certificate, bearing the number designated heron, for insurance coverage under the Master Policy-Nuclear Energy Liability Insurance (Secondary Financial Protection). No insurance is afforded by this copy.

1h Vur'.& e -

Gary S. Jchio, Vice President -Underwriting Ammerica Nuclear Insurers Effective Date of this Endorsement: January 1, 2011 To form a part of Certificate No. N -0107 (12:01 A.M. Standard Time)

Issued To: Arizona Public Service Company, et al Date of Issue: November 5, 2010 For the subscribing companies ByPi President Endorsement No: 48 Countersigned by JJ#~e4~

CERTIFIED CC)PY

NUCLEAH ENERGY LIABILITY INSJRANCE NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION ENDORSEMENT TO CERTIFICATE NO. N -0107 Forming Part of Master Policy No. 1 Nuclear Energy Liability Insurance (Secondary Financial Protection)

It is agreed that effective January 1, 2010, Item 4. (a) of the certificate is amended to read as follows:

Item 4. (a) Identification of primary financial protection applicable to the nuclear reactor and limit(s) of liability thereof:

(1) Facility Form Policy:

Nuclear Energy Liability Insurance Association's Policy NF -0266 $375,000,000 (2) Master Worker Policy (Facility Worker Form):

Nuclear Energy Liability Insurance Association's Master Worker Policy NMWP-2 $375,000,000 Effective Date of this Endorsement: January 1, 2010 To form a part of Certificate No. N -0107 (12:01 A.M. Standard Time)

Issued to: Arizona Public Service Company, et al Date of Issue: December 5, 2009 For the subscribing companies B e President Endorsement No.: 46 Countersigned by &Aa -/Uaý NE-S-29 (1/1/10)

COPY

NUCLEAR ENERGY LIABILITY INSUhANCE NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION ENDORSEMENT TO CERTIFICATE NO. N -0107 Forming Part of Master Policy No. 1 Nuclear Energy Liability Insurance (Secondary Financial Protection)

It is agreed that effective October 29, 2008, Item 7. of the certificate is amended to read as follows:

Item 7. Maximum retrospective premium (exclusive of allowance for premium taxes) payable pursuant to Condition 2 of the Master Policy with respect to each nuclear incident: $117,495,000.

Effective Date of this Endorsement: October 29, 2008 To form a part of Certificate No. N -0107 (12:01 A.M. Standard Time)

Issued to: Arizona Public Service Company, et al Date of Issue: October 29, 2008 For the subscribing co nppies President Endorsement No.: 44 Countersigned IbyZU f

NE-S-28 COPY

Nuclear Energy Liability Insurance NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION SPECIFICATION OF CERTIFICATE EFFECTIVE DATE AND PREMIUM ENDORSEMENT It is agreed that:

1. The United States Nuclear Regulatory Commission has issued to the insureds name in Item 1 of the Declarations Operating License No. NPF-46 effective December 9. 1985 for the reactor described in Item 3 of the Declarations of the certificate.

.2. Item 6 of the Declarations of the Certificate is deleted 'and replaced by the following:

Item 6. Certificate Period: Beginning December 9. 1985 and continuing to the effective date and time of cancellation or termination of the Master Policy or this Certificate, whichever first occurs, eastern standard time.

3. Item 8 of the Declarations of the'Certificate is deleted and replaced by the following:

Item 8. Portion of the annual premium payable for the companies' contingent liability described in Condition 4 of the Master Policy from the effective date hereof to the end of calendar year 198  : $ 292.95 Efleciave Date of *,-

EIfs Enootiemente December 9, 1985 IsudoAizona Public12:01 Service Company,TimeSalt RvrProject A.M. Slandard T part of r Agricultue I>proy i o._

ent Power District, El Paso Electric -pcaniyH, u ternnai-  : .:

Dale of I January 9, 1986 ssue Public Service CompanfO thof Su )Tcr1' pa s 7 of New Mexico and Southern California Public Power Authority AV Endorsement No 1 Countarsfilnod by.

NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION Certificate No. N- 107 Forming Part of Master Policy No. I CERTIFICATE OF INSURANCE DECLARATIONS AND BOND FOR PAYMENT OF RETROSPECTIVE PREMIUMS Certificate of Insurance This is to certify that the persons and organizations designated in Item 1 of the Declarations are named insureds under the Master Policy -

Nuclear Energy Liability Insurance (Secondary Financial Protection),herein called the "Master Policy",issued by Nuclear Energy Liability Insurance Association.

Such insurance as is provided by the Master Policy applies, through this certificate, only:

(a) to the insureds identified in Items I and 2 of the Declarations, (b) for the certificate period stated in Item 6 of the Declarations, (c) to bodily injury or property damage (1) with respect to which the primary financial protection described in Item 4 of the Declarations would apply but for exhaustion of its limit of liability as described in Condition 6 of the Master Policy, and (2) which is caused during the certificate period stated in Item 6 of the Declarations by a nuclear incident arising out of or in connection with the nuclear reactor described in Item 3 of the Declarations, and

(3) which is discovered and for which written claim is made against the insured not later than ten years after the end of the certificate period stated in Item 6 of the Declarations.

However, with respect to bodily injury or property damage caused by an extraordinary nuclear occurrence this subparagraph (3) shall not operate to.bar coverage for bodily inJ!MX or property damage which is discovered and for which written claim is made against the insured not later than twenty years after the date of the extraordinary nuclear occurrence.

Declarations Item 1. Named insureds and addresses:

(a) Arizona Public Service Company-P.O. Box 21666, Phoenix, Arizona 85036 (b) Salt River Project Agricultural Improvement and Power District-P.O. Box 1980, Phoenix, Arizona 85001 (c) El Paso Electric Company-P.O. Box 982, El Paso, Texas 79946 (d) Southern California Edison Company-P.O. Box 800, Rose Head, California 91770 (e) Public Service Company of New Mexico-Alvardo Square, Alburquerque, New Mexico 87158 (f) Southern California Public Power Authority-c/o Los Angeles Department of Water & Power, III North Hope Street, Los Angeles, California 90012 Page 2 of Certificate No. N- 107

Item 2.. Additional insureds:

Any other person or organization who would be insured under the primary financial protection identified in Item 4 of the Declarations but for exhaustion of the limit of liability of such primary financial protection.

Item 3. Description and location of nuclear reactor: Unit 2 of the Palo Verde Nuclear Generating Station is located in Maricopa County, Arizona.

Item 4. (a) Identification of primary financial protection applicable to the nuclear reactor and limit(s) of liability thereof:

Nuclear Energy LiabilityInsurance Association's Policy NF- 266 $124,000,000 Mutual Atomic Energy Liability Underwriters' Policy MF- 116 $ 36,000,000 (b) The following endorsements, attached to the primary financial protection policies listed in Item 4 (a) also apply to the insurance afforded by the Master Policy through this certificate as though they were attached hereto:

(1) Waiver of Defenses Endorsement (Extraordinary Nuclear Occurrence) and (2) Supplementary Endorsement - Waiver of Defenses - Reactor Construction at the Facility, Page 3 of Certificate No. N- 107

(b) The following endorsements, attached to the primary financial protection policies listed in Item 4 (a) also apply to the insurance afforded by the Master Policy through this certificate as though they were attached hereto:

(1) Waiver of Defenses Endorsement (Extraordinary Nuclear Occurrence) and (2) Supplementary Endorsement - Waiver of Defenses - Reactor Construction at the Facility, (c) The limits of liability provided under the primary financial protection specified in Item 4 (a) above are not shared with any other reactor except as follows:

Unit I of the Palo Verde Nuclear Generating Station.

Item 5. Limits of Liability: The amount of retrospective premium actually received by the companies plus the amount of the companies' con-tingent liability,, if-any, pursuant to Conditions 2, 3 and 4 of the Master Policy.

Item 6. Certificate Period: Beginning at the same time and date that the Facility Operating License issued by the United States Nuclear Regulatory Comnission for the reactor described in Item 3 of this certificate becomes effective and continuing to the effective date and time of cancellation or termination of the Master Policy or this certificate, whichever first occurs, eastern standard time.

Item 7. Maximum retrospective premium (exclusive of allowance for premium taxes) payable pursuant to Condition 2 of the Master Policy with respect to each nuclear incident: $3,875,000.

Item 8. Portion of the annual premium payable for the companies' contingent liability described in Condition 4 of the Master Policy from the effective date hereof to the end of calendar year 1985 : The pro rata portion of $4,650 for the period from the effective date of this certificate to the end of the calendar year during which such effective date occurs.

Page 4 of Certificate No. N- 107

BOND FOR PAYMENT OF RETROSPECTIVe PREMIUMS Know All Men By These Presents, that the undersigned do hereby acknowledge that they are named insureds under the Master Policy described in the above Certificate of Insurance and Declarations. The named insureds do hereby covenant with and are held and are firmly bound to the members of Nuclear Energy Liability Insurance Association subscribing the Master Policy (hereinafter called the "companies") to pay to the companies all retrospective premiums and allowances for premium taxes which shall become due and payable in accordance with the Master Policy, as it may be changed from time to time, with interest on such premiums and allowances for taxes to be computed at the rate provided in the Master Policy from the date pay-ment thereof is specified to be due the companies in written notice to the first named insured as provided in Condition 2 of the Master Policy until paid; And it is hereby expressly agreed that copies of written notices of retro-spective premiums and allowances for premium taxes due and payable or other evidence of such amounts due and payable sworn to by a duly authorized representative of the companies shall be prima facie evidence of the fact and extent of the liability of the named insureds for such amounts; And it is further expressly agreed that the named insureds will indemnify the companies against any and all liability, losses and expenses of whatsoever kind or nature (including but not limited to interest, court costs, and counsel fees) which the companies may sustain or incur (1) by reason of the failure of the named insureds to comply with the covenants and provisions of this Bond and (2) in enforcing any of the covenants or provisions of this Bond, or any provisions of the Master Policy relating to such covenants or provisions; For the purpose of recording this agreement, a photocopy acknowledged before a Notary Public to be a true copy hereof shall be regarded as an original.

Paqe 5 of Certificate No. 107

The preceding Certificate of Insurance, Declarations and Bond form a part of the Master Policy. Cancellation or termination of the Master Policy or the Certificate of Insurance shall not affect the named insured's obligations under the policy or the Bond to pay the retrospective premiums and allowances for premium taxes, as provided in this Certificate and Condition 2 of the Master Policy.

IN WITNESS WHEREOF, the named insureds have caused this Certificate, these Declarations and this Bond for Payment of Retrospective Premiums, to be signed and sealed by a duly authorized officer, to be effective as of the time and date of the inception of the Certificate period.

Attest or Witness Named Insureds:

Arizona Public Service Company (Named Insured r - Tye:, int)

_Associat e(crY-emt ary (Signature of Officer)

Edwin E. Van Brunt, Jr.

Executive Vice President - ANPP (Type or Print Name & Title of Officer)

Date: 11-30-85 Salt River Project Agricultural Improvement and Power District pA G B)* 7 !I, -* (SEAL) nature of Officer)

JHN IL LASE pRMSDEh't (Type or Print Name & Title of Officer)

Date: tIklas-8 El Paso Electric Company (Named Insured - Type or Print)

BY - (SEAL)

(Si.n* Officer)

Senior Vice President (Type or Print Name & Title of Officer)

Date: 11-15-85 Paqe.L~of Certificaite No.NJ 07

Attest or Witness Named Insureds:

Southern California Edison Company (Named Insured - Type or Print)

BY~3 (SEAL)

(Signature of {Officer)'%

Ddi d J.- Fogarty, Executive Vice President (Type or Print Name & Title of Officer)

Date: 11-8-85 Public Service Company of New Mexico (Na ed Insured - Type or Print)

)Sinatureof Officer)

Ass -stanitýSecretary

_c L. Wilkins, Senior Vice President (Type or Print Name & Title of Officer)

Date: 11-1-85 ZSouthern California Public Power Authority (Named Insured - Type or Print) 014L wjJs. By" (SEAL)

Assistant Secretary (SignaIture of Off )

Fred Kray, President (Type or Print Name & Title of Officer)

Date: 11-20-85 I .jtlMmed.rinured -/t"Pe or Print)

/

c7. ., .. (SEAL)

( gnature of Officer)

/"

(Type or Print Name & Title of Officer)

Date:

Page gof Certificate No.N- 1_07

IN WITNESS WHEREOF, the companies subscribing the Master Policy iave caused the Certificate of Insurance and the Declarations to be signed on their behalf by the President of Nuclear Energy Liability Insurance Association to be effective as of the time and date of the inception of the Certificate period, and countersigned below by a duly authorized representative.

Attest or Witness For the Subscribing Companies of NUCLEAR ENE YLIABILITY INSURANCE ASSOCIATION BY:

BurV C. Proom, President Countersigned by 1 ý'

Author d 7resentativk)

Page _.8 of Certificate No. N- 107

NUCLEAR ENERGY LIABILITY INSURANCE NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION ANNUAL PREMIUM ENDORSEMENT CALENDAR YEAR 2011

1. ANNUAL PREMIUM: It is agreed that the Annual Premium due the companies for the period designated above is: $9,492.00 This is to certify that this is a true copy of the original Certificate, bearing the number designated heron, for insurance coverage under the Master Policy-Nuclear Energy Liability Insurance (Secondary Financial Protection). No insurance is afforded by this copy.

I. uuen-

'arf% cio, Vice President -Underwriting America~ uclear Insurers Effective Date of this Endorsement: January 1, 2011 To form a part of Certificate No. N -0114 (12:01 A.M. Standard Time)

Issued To: Arizona Public Service Company, et al Date of Issue: November 5, 2010 For the subscribing companies By 2 d' President Endorsement No: 43 Countersigned by I CERTIFIED COPY

NUCLEARI ENERGY LIABILITY ISb1 RANCE NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION ENDORSEMENT TO CERTIFICATE NO. N -0114 Forming Part of Master Policy No. 1 Nuclear Energy Liability Insurance (Secondary Financial Protection)

It is agreed that effective January 1, 2010, Item 4. (a) of the certificate is amended to read as follows:

Item 4. (a) Identification of primary financial protection applicable to the nuclear reactor and limit(s) of liability thereof:

(1) Facility Form Policy:

Nuclear Energy Liability Insurance Association's Policy NF -0266 $375,000,000 (2) Master Worker Policy (Facility Worker Form):

Nuclear Energy Liability Insurance Association's Master Worker Policy NMWP-2 $375,000,000 Effective Date of this Endorsement: January 1, 2010 To form a part of Certificate No. N -0114 (12:01 A.M. Standard Time)

Issued to: Arizona Public Service Company, et al Date of Issue: December 5, 2009 For the subscribing companies By President Endorsement No.: 41 Countersigned by &Aa--4ý -

NE-S-29 (1/1/10)

COPY

NUCLEAR ENERGY LIABILITY INSUhANCE NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION ENDORSEMENT TO CERTIFICATE NO. N -0114 Forming Part of Master Policy No. I Nuclear Energy Liability Insurance (Secondary Financial Protection)

It is agreed that effective October 29, 2008, Item 7. of the certificate is amended to read as follows:

Item 7. Maximum retrospective premium (exclusive of allowance for premium taxes) payable pursuant to Condition 2 of the Master Policy with respect to each nuclear incident: $117,495,000.

Effective Date of this Endorsement: October 29, 2008 To form a part of Certificate No. N -0114 (12:01 A.M. Standard Time)

Issued to: Arizona Public Service Company, et al Date of Issue: October 29, 2008 For the subscribing corr1panles By President Endorsement No.: 39 Countersigned by ~6%&~

NE-S-28 COPY

Nuclear Energy Liability Insurance NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION AMENDATORY ENDORSEMENT It is agreed that:

1. Item 1. (a) of the Declarations is amended to read:

Arizona Public Service Company P.O. Box 53999, Station 2352 Phoenix, Arizona 85072-3999

2. Item 1. (b) of the Declarations is amended to read:

Salt River Project Agricultural Improvement and Power District P.O. Box 52025 Phoenix, Arizona 85072-2025 Effective Date of this Endorsement April 15, 1987 To form a part of Certi- cate No. N-114 12:01 A.M. Standard Time Issued to Arizona Public Service Company, et al Date of Issue May 7, 1987 Su Ceribing Companies eye General Manager Endorsement No 2 Countersigned by

Nutlear Energy Liability Insurance NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION SPECIFICATION OF CERTIFICATE EFFECTIVE DATE AND PREMIUM ENDORSEMENT It is agreed that:

1. The United States Nuclear Regulatory Commission has issued to the insureds name in Item 1 of the Declarations Operating License No. NPF-65 effective March 25, 1987 for the reactor described 'in Item 3 of the Declarations of'the certificate.
2. Item 6 of the Declarations of the Certificate is deleted and replaced by the following:

Item 6.' Certificate Period: Beginning March 25, 1987 and continuing to the effective date and time of cancellation or termination of the Master Policy or this Certificate, whichever first occurs, eastern standard time.

3. Item 8 of the Declarations of the'Certificate is deleted and replaced by the following:

Item 8.. Portion of the annual premium payable for the companies' contingent liability describe Condition 4 of the Master PolicY fro*It effective date hereo to t e en ofý n year 7$ 4$493.

Effective Date of this Endorsement March 25, 1987 To form a part of Certificate No.N-114 12:01 A.M. Standard Time Issued to Arizoha Public Service Company, et al Date of Issue March 30, 1987 For the subscribing companies By______________

General Manager Endorsement No 1 Countersigned by

NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION Certificate No. N- 114 Forming Part of Master Policy No. 1 CERTIFICATE OF INSURANCE DECLARATIONS AND BOND FOR PAYMENT OF RETROSPECTIVE PREMIUMS Certificate of Insurance This is to certify that the persons and organizations designated in Item I of the Declarations are named insureds under the Master Policy -

Nuclear Energy Liability Insurance (Secondary Financial Protection),herein called the "Master Policy",issued by Nuclear Energy Liability Insurance Association.

Such insurance as is provided by the Master Policy applies, through this certificate, only:

(a) to the Insureds identified in Items I and 2 of the Declarati-s.

(b) for the certificate period stated in Item 6 of the Declarations, (c) to bodily injury or property damage (1) with respect to which the primary financial protection described in Item 4 of the Declarations would apply but for exhaustion of its-limit of liability as described in Condition 6 of the Master Policy, and (2) which is caused during the certificate period stated in Item 6 of the Declarations by a nuclear incident arising out of or in connection with the nuclear reactor described in Item 3 of the Declarations, and NSFC-l (1/1/83) .Page 1

(3) which I. iscovered and for which writte. )Naim is made against the insured not later than ten years after the end of the certificate period stated in Item 6 of the Declarations. However, with respect to bodily injury or property damage caused by an extraordinary nuclear occurrence this subparagraph (3) shall not operate to bar coverage for bodily injury or property damage which is discovered and for which written claim is made against the insured not later than twenty years after the date of the extraordinary nuclear occurrence.

Declarations Item 1. Named insureds and addresses:

(a) Arizona Public Service Company-P.O. Box 21666, Phoenix,Arizona 85036 (b) Salt River Project Agricultural Improvement and Power District -

P.O. Box 1980, Phoenix, Arizona 85001 (c) El Paso Electric Company-P.O. Box 982, El Paso, Texas 79960 (d) Southern California Edison Company-P.O. Box 800, Rosemead, California 91770 (e) Public Service Company of New Mexico-Alvarado Square, Alburquerque, New Mexico 87158 (f) Southern California Public Power Authority Association-111 North Hope Street, Los Angeles, California 90012 (g) The Department of Water and Power of The City of Los Angeles -

111 North Hope Street, Los Angeles, California 90012 Page 2 of Certificate No. N- 114

Item 2. Additional insureds:

Any other person or organization who would be insured under the primary financial protection identified in Item 4 of the Declarations but for exhaustion of the limit of liability of such primary financial protection.

Item 3. Description and location of nuclear reactor:

Unit 3 of the Palo Verde Nuclear Generating Station located in Maricopa County, Arizona.

Item 4. (a) Identification of primary financial protection applicable to the nuclear reactor and limit(s) of liability thereof:

Nuclear Energy Liability. Insurance Association's Policy NF- 266 $124,000,000 Mutual Atomic Energy Liability Underwriters' Policy MF- 116 $ 36,000,000 (b) The following endorsements, attached to the primary financial protection policies listed in Item 4 (a) also apply to the insurance afforded by the Master Policy through this certificate as though they were attached hereto:

(1) Waiver of Defenses Endorsement (Extraordinary Nuclear Occurrence) and (2) Supplementary Endorsement - Waiver of Defenses - Reactor Construction at the Facility, Page 3 of Certificate No. N- 114

(c) The limits of liability provided under the primary financial protection specified in Item 4 (a) above are not shared with any other reactor except as follows:

Unit 1 and 2 of the Palo Verde Nuclear Generating Station.

Item 5. Limits of Liability: The amount of retrospective premium actually received by the companies plus the amount of the companies' con-tingent liability, if any, pursuant to Conditions 2, 3 and 4 of the Master Policy.

Item 6. Certificate Period: Beginning at the same time and date that the Facility Operating License issued by the United States Nuclear Regulatory Commission for the reactor described in Item 3 of this certificate becomes effective and continuing to the effective date and time of cancellation or termination of the Master Policy or this certificate, whichever first occurs, eastern standard time.

Item 7. Maximum retrospective premium (exclusive of allowance for premium taxes) payable pursuant to Condition 2 of the Master Policy with respect to each nuclear incident: $3,875,000.

Item 8. Portion of the annual premium payable for the companies' contingent liability described in Condition 4 of the Master Policy from the effective date hereof to the end of calendar year 1987 : The pro rata portion of $5,812.50 for the period from-the effective date of this certificate to the end of the calendar year during which such effective date occurs.

Page 4 of Certificate No. N- 114

dOND FOR PAYMENT OF RETROSPECTI,, PREMIUMS Know All Men By These Presents, that the undersigned do hereby acknowledge that they are named insureds under the Master Policy described in the above Certificate of Insurance and Declarations. The named insureds do hereby covenant with and are held and are firmly bound to the members of Nuclear Energy Liability Insurance Association subscribing the Master Policy (hereinafter called the "companies") to pay to the companies all retrospective premiums and allowances for premium taxes which shall become due and payable in accordance with the Master Policy, as it may be changed from time to time, with interest on such premiums and allowances for taxes to be computed at the rate provided in the Master Policy from the date pay-ment thereof is specified to be due the companies in written notice to the first named insured as provided in Condition 2 of the Master Policy until paid; And it is hereby expressly agreed that copies of written notices of retro-spective premiums and allowances for premium taxes due and payable or other evidence of such amounts due and payable sworn to by a duly authorized representative of the companies shall be prima facie evidence of the fact and extent of the liability of the named insureds for such amounts; And it is further expressly agreed that the named insureds will indemnify the companies against any and all liability, losses and expenses of whatsoever kind or nature (including but not limited to interest, court costs, and counsel fees) which the companies may sustain or incur (1) by reason of the failure of the named insureds to comply with the covenants and provisions of this Bond and (2) in enforcing any of the covenants or provisions of this Bond, or any provisions of the Master Policy relating to such covenants or provisions; For the purpose of recording this agreement, a photocopy acknowledged before a Notary Public to be a true copy hereof shall be regarded as an original.

Page 5 of Certificate No. 114

The preceding Certificate of Insurance, Declarations and Bond form a part of the Master Policy. Cancellation or termination of the Master Policy or the Certificate of Insurance shall not affect the named insured's obligations under the policy or the Bond to pay the retrospective premiums and allowances for premium taxes, as provided in this Certificate and Condition 2 of the Master Policy.

IN WITNESS WHEREOF, the named insureds have caused this Certificate, these Declarations and this Bond for Payment of Retrospective Premiums, to be signed and sealed by a duly authorized officer, to be effective as of the time and date of the inception of the Certificate period.

Attest or Witness Named Insureds:

Arizona Public Service Company (Named Insured - "o rint)l (Signature of Officer) 6 Edwin E. Van Brunt, Jr.

Executive Vice President - ANPP (Type or Print Name & Title of Officer)

Date: February 16, 1987 Salt River Project Agricultural Improvement and Power District In 'ed ed *d* -T' or Print)

By_a (SEAL)

-_/*

gnature of Officer)

SECRETARLY (Type or Print Name & Title of Officer)

Date: k- A-Z,; 11.9g7 El Paso Electric Company (Named nsur*.- Teeor int) fy~~~sý ie4C) 4.

(Type or Print Name & Title of Officer)

Date: &fe-h 1 £N(997

-5, Paqe_6__of Certificate No.N-l 14

Attest or Witness Named Insureds:

Southern California Edison Company (Named Insured - Type or Print)-

BA, -- ) ge(-SEAL)

(Signfature of qfficehl ftN m moRm~ SecretaTY David J. Fogarty Executive Vice President (Type or Print Name & Title of Officer)

Date: March 12, 1987 Public Service Company of New Mexico (Named Insured - Typeor Print)

By (SEAL)

Amsistaft Secrptar/ (Signature of OfUer)

Vice President & Corporate Controller (Type or Print Name & Title of Officer)

Date: March 23, 1987 Southern California Public Power Authority Association (Named Insured - Type or Print.)

By,, !J*. x) (SEAL)

(Signature of Officer)

(Type or Print Name & Title of Officer)

Date: 311 7.

The Department of Water and Power of The City of Los Angeles (Named Insured - Type or Print)

B(SEAL)

Asst. Chief Engineer-Power (Signature ..of Officer).

Normar..j'E. Nichols-(Type or-Print Name & Title of Officer)

Date: March 20; 1987 Page 7 of Certificate No.N-114

IN WITNESS WHEREOF, the companies subscribing the Master Policy have caused the Certificate of Insurance and the Declarations to be signed on their behalf by the President of Nuclear Energy Liability Insurance Association to be effective as of the time and date of the inception of the Certificate period, and countersigned below by a duly authorized representative.

Attest or Witness For the Subscribing Companies of NUCLEAR ENIRGY LIABILITY INSURANCE ASSOCIATION i BY:

Burt C. Proom, President Countersigned by

/uthorize R sentati ey Page 8 of Certificate No. N- 114

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