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; as heretofore supplemented, expressly excepted) shall Ue and are as fully
granted and conveyed hereby and as fully embraced within the Lien of the
Mort~age, as if such property, rights and franchises w~ere now owned by the
Company and were specifically described herein and canveyed hereby.
' Provided that the following are not and aze not intended to be now or
hereafter granted, bargained, sold, released, conveyed, assigned, transferred,
mortgaged, pledged, set over or confirmed hereunder and are hereby expressly
excepted from the Lien and operation of this Sixteenth Supplemental Indenture
and from the Lien and operation of the MoRgage, as heretofore supplementeti,
viz.: (1) cash, shares of stock, bonds, notes and other obligations and
other securities not hereafter speeifically pledged, paid, deposited, delivered
ar held under the Mortgage or covenanted so to be; (2) rnerchandise,
equipment, materials or supplies held for the purpose of sale in the usual
course of business and fuel, oil and similar materials and suppiies consumable
in the operation of any properties of the Company; rolling stock, buses, motor
coaches, automobiles and other vehicles; ( 3) bills, notes and aecounts
re;.~ivable, and all contracts, leases and operating agreements not specifically
ptedged i~nder ihe Mortoage or covenanted so to be; (4) the last day of the
term of ~tny lease or leasehold which may hereafter become subject to the
Lien of the Mort~age; ( 5) electric energy, ~as, ice, and other materials or
nroducts generated, manufactured, produr.ed or purchased by the Company
for sale, distribution or use in the ordinary course of its business; all timber,
minerals, mineral rights and royalties; (6) the Company's franchise to be a
carporation; and (7) the properties already sold or in the process of t~eing
sold by the Company and heretofore released from the Mortgage and Deed
of Trust dated as of January 1, 1926, from Florida Power & Light Cor.~pany
' to Bankers Trust Company and The ~'lorida National Bank of Jacksonville,
Trustees, and specifically described in three separate releases e~ecuted by
Qankers Trast Cornpany and The Florida National Bank of Jacksonville,
clated July 28, 1943, October 6, 1943 and December 1 l, 1943, which releases
~ have heretofore been delivered by the said Trustees to the Company and
recorded by the Company among tlie Public Records of all Counties in which
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