Panhandle Eastern Pipe Line Company, LP

THIRD REVISED VOLUME NO. 1

Effective Date: 09/01/2004, Docket: RP04-426-000, Status: Effective

First Revised Sheet No. 580 First Revised Sheet No. 580 : Effective

Superseding: Original Sheet No. 580

RATE SCHEDULE IIOS (Continued)

INTERRUPTIBLE IN/OUT STORAGE SERVICE

FORM OF STORAGE AGREEMENT

ARTICLE 5

GENERAL TERMS AND CONDITIONS

This Agreement and all terms for service hereunder are subject

to the further provisions of Rate Schedule IIOS and the General Terms

and Conditions of Panhandle's Tariff, as such may be modified,

supplemented, superseded or replaced generally or as to the service

hereunder. Panhandle reserves the right from time to time to

unilaterally file and to make effective any such changes in the

provisions of Rate Schedule IIOS and/or the General Terms and

Conditions, subject to the applicable provisions of the Natural Gas

Act and the Commission's Regulations thereunder. Such Rate Schedule

and General Terms and Conditions, as may be changed from time to

time, are by this reference incorporated in their entirety into this

Agreement and made an integral part hereof.

ARTICLE 6

MISCELLANEOUS

This Agreement shall be binding upon and inure to the benefit

of any successor(s) to either Panhandle or Shipper by merger,

consolidation or acquisition. Either Panhandle or Shipper may assign

or pledge this Agreement and all rights and obligations hereunder

under the provisions of any mortgage, deed of trust, indenture or

other instrument which it has executed or may execute hereafter as

security for indebtedness; otherwise, neither Panhandle nor Shipper

shall assign this Agreement or its rights hereunder without first

having obtained the formal written consent of the other(s).

ARTICLE 7

NOTICES

7.1 Except as otherwise specified, any other notice, request,

demand, statement or bill provided for in the General Terms and

Conditions and any other notice which either Panhandle or Shipper may

desire to give to the other(s), shall be in writing and shall be

considered as duly delivered when mailed by registered mail to the

Post Office address of the other(s), or at such other address as may

be designated by formal written notice. Routine communications and

bills (but excluding payments otherwise provided for in the General

Terms and Conditions) shall be considered as duly delivered when

mailed by registered or ordinary mail or an equivalent. The Post

Office addresses of both Panhandle and Shipper are as follows: