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HomeMy WebLinkAboutResolution - 2000-R0162 - Contract - Palmer & Cay Of Texas Inc. - Property Insurance - 06/08/2000d RESOLUTION Resolution No. 2000-80162 June 8, 2000 Item No. 25 BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: THAT the Mayor of the City of Lubbock BE and is hereby authorized and directed to execute for and on behalf of the City of Lubbock a contract for property insurance, by and between the City of Lubbock and Palmer & Cay of Texas Inc. of Dallas, Texas, and related documents. Said contract is attached hereto and incorporated in this resolution as if fully set forth herein and shall be included in the minutes of the City Council. Passed by the City Council this 8th day of June , 2000. WINDY SIT N, MAYOR A City Secretary APPROVED AS TO CONTENT: Vtr�n Victor KihnaA, Purchasing Manager APPROVED AS TO FORM: A � �4a-- - � - William de Haas Competition and Contracts Manager/Attorney gs:ccdoes/Palmer & Cay of Texas, Inc.res May 30, 2000 Resolution No. 2000—RO162 June S, 2000 Item No. 25 PROPERTY INSURANCE AGREEMENT THIS AGREEMENT entered into this 15`h day of July, 2000 by and between the CITY OF LUBBOCK, TEXAS, a Municipal Homerule Corporation (hereinafter called "City") and PALMER & CAY OF TEXAS, INC., a registered agentibroker in the State of Texas, (hereinafter called "Agency"). RECITALS WHEREAS, The City desires to purchase coverage for Property Insurance; and WHEREAS, the Agency is qualified and has demonstrated that it can provide said coverage; and WHEREAS, the City and the Agency desire to enter into an Agreement to provide said services. NOW THEREFORE, the parties agree as follows: 1. The parties agree to abide by the terms and conditions of the Property Insurance policy and all it's amendments and endorsements, which are attached hereto as Exhibit "A" which is incorporated as if fully set forth herein. 2. This agreement is for a term of one (1) year from the effective date and may be negotiated and renewed annually for two (2) additional one (1) year terms at the mutual agreement of both parties. 3. Notices or communications from the City to the Agency shall be addressed to the Agency and shall be deemed to be duly given or served, if the same shall be sent by United States mail, return receipt requested, to the address shown below: Palmer & Cay of Texas, Inc. 12225 Greenville Ave., #330 Dallas, Texas 75243-9334 Notices or communications from the Agency to the City shall be addressed to the City and shall be deemed to be duly given or served if the same shall be sent by United States mail, return receipt requested, to the address shown below: City of Lubbock P. O. Box 2000 Lubbock, Texas 79457 Property Insurance Agreement, City of Lubbock & Palmer & Cay of Texas, Inc. Page 1 ■ Notices and communications described in this paragraph that are sent by,, United States mail will be deemed to be duly given or served on the third business day following the date the notice is mailed. 4. THIS CONTRACT SHALL BE CONSTRUED AND ENFORCED ACCORDING TO THE LAWS OF THE STATE OF TEXAS. VENUE SHALL BE LUBBOCK COUNTY, TEXAS. 5. The City may terminate the services of the Agency at any time upon giving the Agency sixty' (60) days written notice. The Agency may terminate in accordance with the contract and the laws of the State of Texas by giving sixty (60) days written notice. The Agency after termination shall complete the processing of all services described in the Agreement, which have commenced prior to the effective date of the termination of this agreement. SIGNED THIS DAY, the 8th of .Tune '2000. .. i APPROVED AS TO NTENT: 'Mary Andrews Managing Director Human Resources APPROVED AS TO FORM: William de Haas Competition and Contracts Manager PALMER & CAY OF TEXAS, INC. By: R.S. tookhammer III, ARM Title: Vice President Property Insurance Agreement, City of Lubbock & Palmer & Cay of Texas, Inc. Page 2 PUBLIC ENTITY PROPERTY QUOTATION Insured's Name: City of Lubbock Mailing Address: P.O. Box 2000 City & State: Lubbock, Texas 79457 Quote Date: 5/16/00 Resolution No. 2000-R 0162 R PAINIM &-CAY of Teras, Inc. Policy Dates: 7/15/00 — 7/15/01 COVERAGE PROVIDED COVERAGE LIMIT Real & Personal Property Blanket Agreed Amount $606,007,275 Flood $ 25,000,000 Earthquake $ 25,000,000 Automatic Acquisition (Buildings) $ 1,000,000 Automatic Acquisition (Personal Property) $ 250,000 Transit $ 100,000 Personal Property of Employees-& Volunteers $ 50,000 Business Income $ 250,000 Extra Expense $ 250,000 Valuable Papers $ 100,000 Accounts Receivable $ 100,000 Computer Equipment and Media $ 100,000 Fine Arts $ 100,000 Mobile, Portable or Contractor's Equipment and Vehicles $ 41,421,590 Miscellaneous Property $ 25,000 Trees, Shrubs and Landscape Planting $ 25,000 Golf Course Greens and Tees $ 50,000 Animals $ 25,000 Paved Surfaces $ 100,000 Commandeered or Impounded Property $ 100,000 Emergency Service Portable Equipment $ 250,000 Communications Equipment $ 50,000 Builder's Risk $ 500,000 Money & Securities (On Premises) $ 5,000 Money & Securities (Off Premises) $ 2,500 Preservation of Property $ 100,000 Fire Department Services Charge $ 25,000 Repair of Theft Damage to Non -Owned Buildings $ 50,000 Inventory After a Loss $ 10,000 Debris Removal - Greater of 25% of Loss or $ 50,000 Demolition — Greater of 15% of Damaged Building Value or $ 500,000 Increased Cost of Construction - Greater of 15% of Damaged Building Value or $ 500,000 Fire Protection Devices Recharge $ 10,000 Lock Replacement $ 500 Page 1 of 2 Pollutant Clean Up (Property) $ 50,000 Pollutant Clean Up (Land & Water) $ 10,000 Arson & Crime Reward $ 10,000 Utility Interruption $ 100,000 Sewer Back Up During Flooding $ 25,000 DEDUCTIBLES AMOUNT All Coverages — Per Occurrences (Except as Outlined Below) $250,000 Flood Excess of FEMA Zone A $250,000 Earthquake $250,000 CONDITIONS Forms: Property policy CMMCP 1000, Flood CXPEP.1003, Earthquake CXPEP.1004 NET POLICY PREMIUM SPECIAL NOTE: $ 179,850 Regardless of the terms and conditions requested in the application or the request for proposal, this quote contemplates only the limits, terms, conditions, warranties and exposures represented above. This Company shall not be bound for any other terms or conditions than those stated above unless agreed to by this Company in writing prior to binding. The language used in this quotation is not an exact reproduction of the insuring agreement, nor the exclusions, used in our coverage forms. The policy language will always supersede this document. This quote is valid for thirty (30) days from the Quote Date shown above. Page 2 of 2 PROPOSAL FORM A. Property Insurance Proposal Form Resolution No. 2000-R 0162 PROPOSAL FOR PROPERTY INSURANCE ON CITY OF LUBBOCK BUILDING AND CONTENTS FOR FIRE, EXTENDED COVERAGE, VANDELISM 1. Agency or Firm Name Palmer & Cay of Texas, Inc. 2. company or Companies who will carry coverage RCV Structures insured at replacement cost of contents insured at 606,00 .275 $250,000 deductible per occurrence.. A single incident involving one or more scheduled properties in the "List of City Property for RFP" (attached) will be deemed one (1) occurrence. The contract will be effective for a period of one year;with the. option to renew for two additional years Renewal terms and pricing will be predicated upon Underwriter's review of loss experience, premium rates, reinsurance market, deductible limits and other relevant factors. Annual Annual Best Coverage Term In Premium Premium Company Name Rating Amount Months_ Amount Amount Coregis Indemnity A IX 606,007,275 12 179,850 _ 179,850 Risk Management Fee 15,000 15,000 TOTAL PREMIUM AMOUNT $194,850 t 1 PROPOSAL FORM A. Property Insurance Proposal Form Resolution No. 2000-R 0162 PROPOSAL FOR PROPERTY INSURANCE ON CITY OF LUBBOCK BUILDING AND CONTENTS FOR FIRE, EXTENDED COVERAGE, VANDELISM 1. Agency or Firm Name Palmer & Cay of Texas, Inc. 2. company or Companies who will carry coverage RCV Structures insured at replacement cost of contents insured at 606,00 .275 $250,000 deductible per occurrence.. A single incident involving one or more scheduled properties in the "List of City Property for RFP" (attached) will be deemed one (1) occurrence. The contract will be effective for a period of one year;with the. option to renew for two additional years Renewal terms and pricing will be predicated upon Underwriter's review of loss experience, premium rates, reinsurance market, deductible limits and other relevant factors. Annual Annual Best Coverage Term In Premium Premium Company Name Rating Amount Months_ Amount Amount Coregis Indemnity A IX 606,007,275 12 179,850 _ 179,850 Risk Management Fee 15,000 15,000 TOTAL PREMIUM AMOUNT $194,850 I, " i 05-15-00 09:32 From -CITY OF LUBBOCK-PURCHASING YES xxx 9067752164 T -M P 02103 .-072 1�!MVTTT-1111 =1 Mrar-114 -M—MM NO jt.ao, please briefly describe the variation(s). 4. Does proposal meet the minimum standards of protection as set forth in the specifications? YES xxx NO JfjjQ, please briefly describe deviation(s). A. Specimen policy including all endorsements and exclusions. B. Written evidence of ability to indemnify the City of Lubbock for any monetary loss up to one (1) million dollars, incurred by the City as a result of the error or omission on the part of the agent, his employees, or subagents in providing or purporting such insurance coverage as requested. C. Information and references regarding former and existing clients of the agent Involved (See General Specifications). D. Description of services provided (See General Specifications). E. Provisions regarding prior notice of cancellation (See General Specifications). F. Provisions regarding premium payment. I 1 ■ X05-15-00 09:33 From -CITY OF LU860CX-PURCHASING 806775216A T-832 P 03/033 F-072 By signing below, I acknowledge that I have completely read and understood these specifications. Further, I acknowledge that any variations from these specifications, which are included in this proposal, are so designated. Failure to designate any variations may eliminate my proposal from consideration. NAME OF AGENCY Palmer & Cay of Texas, Inc. NAME OF AGENT R. S. Bookhammer, III, ARM SIGNATURE OF AGENT' Resolution No. 2000 RO162 June 8, 2000 Item No. 25 A GE Capitat CompAnv MUNICIPALITIES PROPERTY POLICY Various provisions in this Policy restrict coverage. Read the entire Policy carefully to determine rights, duties, what is covered and what is not covered. Throughout this Policy the words you and your refer to the Named Ins ed shown in the Common Declarations. The words we, us and our refer to this Company providing thir&snce. Words and phrases that appear in quotation marks have s i nings. refer to Paragraph K. DEFINITIONS of this section for these meanings. A. COVERAGE Subject to the applicable Li u II&Mn the Property Declarations, and unless otherwise excludedtuTl n t or the Policy Conditions, we will pay for direct physical loss of or damrtx from Covered Causes of Loss. B. LIMITS OF INSURANCE The most we will pay for all loss, damage or costs in any one "loss occurrence" is the applicable Limits of Insurance shown in the Property Declarations. The "Blanket Limit of Insurance" shown in the Property Declarations applies to all Covered Property unless a separate limit, lower limit or reduced amount of insurance is indicated in this Form or in the Property Declarations for any such Covered Property. C. DEDUCTIBLES We will not payfor loss or damage in any one "loss occurrence" until the amount of the loss or damage exceeds the Deductibles shown in the Property Declarations. If only one Deductible is shown in the Property Declarations then all claims for loss or Damage to Covered Property are subject to that Deductible. if more than one Deductible is indicated in the Property Declarations then the specified Deductible will be applied to each claim for loss or damage to the property indicated. When more than one Deductible applies to the property damaged in the same "loss occurrence" only the largest Deductible will apply to the entire claim for all property lost or damaged. D. COVERED PROPERTY © Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its pennission. MARM'D innn ini07 panda I e%t qA o tl Ia I. ■ Covered Property means the following types of property. 1. Buildings and Structures a. Buildings or Structures at "premises" you own or occupy at the inception of this Policy and shown in the Schedule of Property provided to us,, including: (1) Parks and athletic field bleachers, fences, fixtures, scoreboards and lights; (2j Fixtures, machinery and equipment permanently installed to the buildings or structures; (3) Personal property owned by you that is used to maintain or service the building or structure or its "premises", including; (a) Fire extinguishing equipment; (b) Outdoor furniture; (c) Floor coverings; and (d) Appliances used for b. Portable buildings, cl located on a 'premi from a 'premises" you C. A n or for which you are legally liable Schedule of Property, or in transit to or Buildings or structures %&*acquire, occupy or construct. You must report to us a newly acquired, occupied or co cted building or structure at time of acquisition, occupancy or completion of construction for coverage under the "Blanket Limit of Insurance." If you have not notified us within thirty (30) days of acquisition, occupancy or end of construction that the newly acquired, occupied or constructed building or structure is to be insured under the "Blanket Limit of Insurance,' the most we will pay for all loss or damage to that newly acquired, occupied or constructed building or structure is $ regardless of its value. If you do not report the newly acquired, occupied or constructed building or structure to us by the next Policy anniversary or renewal following acquisition, occupancy or completion of construction there will be no coverage the next year. Buildings and structures are automatically covered under the 'Blanket Limit of Insurance" shown in the Property Declarations if included in the Schedule of Property you have provided to us except as limited in c. above. 2. Personal Property © Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. r.RARAr.P innn inion Dana 9 of 4F a. Personal property you own at "premises" you own, regularly use or occupy at the inception of this Policy and shown in the Schedule of Property provided to us; b. Personal property of others for which you are legally liable, except as limited under d. and e. below; c. Personal property you own or for which you are legally liable located in buildings or structures you newly acquire, occupy or construct. You must report to us this personal property in newly acquired, occupied or constructed buildings or structures at time of acquisition, occupancy or completion of construction, or when the personal property is moved into the newly acquired, occupied or constructed buildings or structures, for coverage under the "Blanket Limit of Insurance.' if you have not notified us within thirty (30) days of acquisition, occupancy or end of construction that the personal property in the newly acquired or constructed buildings or structures is to be insured under the "Blanket Limit of Insurance," the most we will pay fora ll to or damage to that personal property in any newly acquired, occupied or constructed buildi r cture is $ regardless of its value. If you do not report the personal property i d, occupied or constructed buildings or structures to us by the next Policy i ry wal following acquisition, occupancy or completion of construction there YVI&e ra year. J d. Your personal property, or the pe I ich y r gally liable, in transit, at exhibitions or at "premises" w o not gularly use. As respects such personal property, w Afto ay m than 'loss occurrence;" and: e. Personal property o m o olunt t located in or on "premises" insured under this Policy. However, y ria . (1) $1,000 for the personfiLpoft of any one volunteer, or (2) $2,500 for the personal property of any one employee. The most we will pay for all employee and•volunteer personal property lost or damaged in one "loss occurrence" is $50,000. Personal property is automatically covered under the "Blanket Limit of Insurance' shown in the Property Declarations if included in the Schedule of Property you have provided to us except as limited in c., d. and e. above. E. SPECIAL PROPERTY COVERAGES The following Special Property Coverages are provided to you as part of the "Blanket Limit of Insurance" indicated in the Policy Declarations. If you require limits other than those provided below, the limits you have purchased will be shown in the Policy Declarations but will remain a part of the 'Blanket Limit of Insurance.' These Special Property Coverages may have Deductibles that are different from the Deductible shown in the Policy Declarations for the 'Blanket Limit of Insurance" and the provisions of Paragraph C. DEDUCTIBLES will apply. These Special Property Coverages are: 1. `Business Income" ©Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. r^eaeAf'.p innn inr07 Dana '2 of @R r r 14 i, i ■. We will pay for the actual loss of "Business Income," including 'Rental Value," you sustain due to the necessary suspension of your "operations" during the "period of restoration' after a "loss occurrence." The suspension must be caused by direct physical loss of or damage to Covered Property at a "premises' insured under this Policy resulting from a Covered Cause of Loss. The most we will pay in any one "loss occurrence' for your'Business Income" is $250,000. 2. Extra Expense We will pay for the Extra Expenses necessary to continue, as nearly as practicable, normal 'operations" following a "loss occurrence." The Extra Expenses you incur must be due to a direct physical loss of or damage to Covered Property at a "premises" insured under this Policy, including personal property in the open, resulting from a Covered Cause of Loss. The most we will pay in any one "loss occurrence" for your "Extra Expense" is $250,000. 3. "Valuable Papers" We will pay your costs to research, replace or restore the lost Papers" and records, including those which exist on electron this coverage is limited to the costs described under K. The 'loss occurrence' must be due to a Covered 'Caus occurrence' for your "Valuable Papers" is $100,000. 4. Accounts Receivable We will pay for loss to your a. All amounts due from Mlost or damaged 'Valuable edia. Our liability under OD TIONS, 13. Valuation. t ill pay in any one "loss because of the loss; b. Interest charges on any loan-re&r to,offset amounts you are unable to collect pending our payments of these amounts; '%A c. Collection expenses in excess of your normal collection expenses that are made necessary by the loss or damage; and d. Other reasonable expenses that you incur to reestablish your records of Accounts Receivable. The "loss occurrence" must be due to a Covered Cause of Loss. The most we will pay in any one "loss occurrence' for your Accounts Receivable is $100,000. 5. Computer Equipment and Electronic Media ©Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. r.U&Ar .P i nnn i nro7 csna d of 49 13 We will pay for loss to your Computer Equipment and Electronic Media. Computer Equipment and Electronic Media owned by others is covered only to the extent of your legal liability for such property. The "loss occurrence" must be due to a Covered Cause of Loss. The most we will pay in any one "loss occurrence' for Computer Equipment and Electronic Media is $ As respects the covered Computer Equipment and Electronic Media, the foQowing are added as Covered Causes of Loss and will be included in the "loss occurrence' limit stated above: a. Sudden and immediate mechanical breakdown of the covered Computer Equipment; b. Faulty design, materials and workmanship in the d of the covered Computer Equipment, but this cause c. Short circuit, blowout or other electrical distu results from power failure, power surge or feet from the "premises" containing the GM d. Electrical or magnetic i:Ag istm results from power failuru or feet from the "premises"tl6 e. Sudden and failure or ma 6. Fine Arts manufacture, installation or repair pot apply to Electronic Media; Computer Equipment which h"premises" or within 1,000 Of covered Electronic Media, which ig at your "premises' or within 1,000 and extreme changes in temperature resulting from ning equipment on your "premises." We will pay for loss to your Fine Arts, or the Fine Arts of others, for which you are legally liable at your "premises" insured under this Policy, or while on exhibition within the United States of America, Canada or the Commonwealth of Puerto Rico, or in transit to and from such exhibition except as restricted below. Exhibition or transit do not mean: a. At fairgrounds; b. On the "premises' of any national or international exposition. The 'loss occurrence" must be due to a Covered Cause of Loss. The most we will pay for loss or damage to Fine Arts is $5,000 for any one piece of art but not more than $100,000 for all art lost or damaged in any one "loss occurrence.' 7. Mobile, Portable or Contractor's Equipment © Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. f t ulur.p i nnn in/07 pa„o S of '%F We will pay for loss to your Mobile, Portable or Contractor's Equipment, or the Mobile, Portable or Contractor's Equipment of others for which you are legally liable. The 'loss occurrence" must be due to a Covered Cause of Loss. The most we will pay in any one 'loss occurrence" for Mobile, Portable or Contractor's Equipment is $ 8. Miscellaneous Property We will pay for loss to your outdoor radio or television antennas, street lights, traffic control lights and signs, flag poles, outdoor signs, fire hydrants, parking meters and fences if these items are included in the Schedule of Property you provide to us. The most we will pay in any one "loss occurrence" for occurrence" must be due to a Covered Cause of Loss. 9. Trees, Shrubs and Landscape Planting We will pay up to $1,000 for any one this Policy, but not more than $25,0 result from a 'Specified Cause of 10. Golf Course Greens We will pay up to $ occurrence" at your 'prem 'Specified Cause of Loss." 11. Food Spoilage Property is $25,000. The "loss at a 'premises' insured under ' The "loss occurrence" `must R e but not more than $50,000 in total in any one "loss this Policy. The "loss occurrence' must result from a. We will pay up to $ in any one 'loss occurrence" at your 'premises' insured under this Policy for food which is rendered unfit for human consumption because of the ruin of such food due to a Covered Cause of Loss which prevents the normal operation of the refrigeration equipment in which the food is stored. This coverage does not apply to food located outside of refrigeration equipment, outside of buildings or in vehicles. 12. Animals We will pay up to $1,000 for any one animal and up to $25,000 for all animals lost in any one "loss occurrence." This coverage applies to zoo animals, police dogs and police horses or any other animals under your care or control that are: a. Owned by you; or b. Owned by others and boarded by you. This coverage applies only to loss or damage caused by or resulting from: Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. MAMf'P lnnn 9n/07 Dana R of qC a. A Covered Cause of Loss; b. Building glass breakage; c. Theft; d. Collision or overturn of a transporting vehicle; e. Accidental electrocution; f. Attack by dogs or wild animals; g. Accidental Shooting; or h. Drowning. Coverage applies only if the animal is one of the causes of loss listed above 13. Paved Surfaces We will pay up to $1 surfaces on your "pre a. Bridges under 30 feet in len b. Roadways and parking lots; c. Walks and patios; and d. Running tracks or other athletic courts. ;ary because of injury<from buildings. for loss or damage to the following paved The "loss occurrence" must be due to a Covered Cause of Loss but does not apply to loss or damage caused by vehicles or by freezing and thawing. 14. "Commandeered Property" or "Impounded Property" a. We will pay up to $100,000 in any one "loss occurrence" for loss or damage to `Commandeered Property" that you seize, borrow or take possession of for official use in an emergency situation. © Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. MAAAr.P lnnn 1n/47 Pon& 7 of 4F. b. At your request, we will pay up to $100,000 in any one "loss occurrence" for loss or damage to "Impounded Property" that you seize or take possession of in your official capacity of enforcing the laws of the local, state or Federal governments. "Commandeered" and 'Impounded Property" does not include coverage for any of the following: a. Personal effects belonging to you, your officers, trustees, directors, employee's or volunteers; or b. Money, bilis, evidences of debt or other securities. i We will not cover "Impounded Property" unless an official inventory of the property has been taken and signed by the owner of the "Impounded Property." The most we will pay for all "Commandeered" and "Impou one "loss occurrence" is $100,000. The "loss occurrence" r 15. "Emergency Service Portable Equipment" We will pay for loss or damage to your Service Portable Equipment" of others away from your "premises" during ems The most we will pay for $250,000. The "loss occun 16. Communications Equi We will pay for loss or damage N stationary or portable communica your'premises' or away from your a damaged or destroyed in any a Covered Cause of Loss. 'J Equipment," or the "Emergency I while on your "premises" or i emergency situations. — 2tuipment' in any one "loss occurrence" is Cause of Loss. tionary or portable communications equipment, or for the pment of others in your care custody or control while on ;' during use. The most we will pay for Communications Equipment in any one "loss occurrence" is $50,000. The "loss occurrence" must be due to a Covered Cause of Loss. 17. "Vacant" Buildings We will pay for loss or damage to your'vacant" buildings subject to the following: a. The building must be included in the Schedule of Property you provide to us; b. The "loss occurrence" must be due to a "Specified Cause of Loss;" c. Coverage will be provided on an Actual Cash Value Basis subject to a maximum amount equal to the value reported to us in the Schedule of Property for the building; and Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. rLARAr'p innn inr07 pan& a „f u d. The "vacant" building is kept locked or secured. 18. Buildings Under Construction We will pay up to $500,000 in any one "loss occurrence" for loss or damage to your buildings that are under construction. Your Schedule of Property must indicate any ongoing or intended construction projects and the "loss occurrence" must be due to a "Specified Cause of Loss." Buildings under construction include: a. New buildings being erected on your "premises;" b. Additions to any buildings already insured under this Policy; c. Renovations to any buildings included in the Schedu d. Renovations to any'vacant' buildings 19. Money and Securities ierty }provide to us; or `.�o prepare them for occupancy. We will pay for loss to your mo u ' s e ta• CV'fed Cause of Loss. The most we will pay in any one "loss occurrence" ' = a. $5,000 for money and se ' les w i e located'Within a "premises' insured under this Policy; or b. $2,500 for money and securitie w HeWing conveyed away from the insured "premises" by you, your officers, your employees or . " ted agents. F. PROPERTY NOT COVERED We will not pay for loss or damage to: 1. Accounts, bills, currency or other moneys, deeds, food stamps or other evidences of debt, scrip, notes or securities except as provided under E. SPECIAL PROPERTY COVERAGES; 2. Vehicles held for sale or'automobiles;" 3. Dams, levees, reservoirs, tunnels, bridges, roadways, walks, patios or other paved surfaces except as provided under E. SPECIAL PROPERTY COVERAGES; 4. Contraband, or property in the course of illegal transportation or trade; 5. The cost of excavations, grading, backfilling or filling; © Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. l .AAM! :P 1 nnn 1 n/W Paten 0 of 4A S. Land (including land on which the property is located), water, growing crops, lawns, trees, shrubs or landscape planting except as provided under E. SPECIAL PROPERTY COVERAGES; 7. Bulkheads, pilings, piers, wharves or docks unless included in the Schedule of Property you have provided to us; S. Property that is covered under another coverage form of this or any other policy in which it is more specifically described, except for the excess of the amount due (whether you can collect on it or not) from that other insurance; 9. Retaining walls that are not part of buildings you own; 10. Underground tanks, pipes, flues, sewers or drains you under this Policy; 11. Electrical or communication lines, towers and insured under this Policy; 1 12. Buildings that are "vacant* except 13. Watercraft not included in 14. Personal property wh G. EXTENSIONS OF COVERAGE r of located on "premises" insured located on a "premises" COVERAGES; ocean or Great Lakes going vessel. Each of the Limits specified for the foiTowing Extensions of Coverage is an additional amount of insurance to the "Blanket Limit of Insurance" but are subject to.the "Blanket Limit of Insurance" Deductible shown in the Policy Declarations and to all other conditions of this Policy. Our liability for loss or damage under these Extensions of Coverage will be limited only to the loss or damage due to a Covered Cause of Loss. When there is contributing insurance providing coverage for these Extensions of Coverage, we will not be liable for more than our pro rata share of the limits set forth below: 1. Preservation of Property We will pay up to $100,000 in any one "loss occurrence" for the cost to preserve Covered Property from further, continuing or repeated loss or damage from a Covered Cause of Loss. However, we will be liable under this Extension of Coverages only for those costs which reduce or prevent further loss to the Covered Property. We will not be liable for costs which would increase the amount of loss which would otherwise have been payable for the Covered Property. © Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. ('.U&Ar01 nnn i nice Pons, in rtF as 2. Fire Department Service Charge We will pay up to $25,000 in any one 'loss occurrence" for your liability for fire department service charges when the fire department is called to save or protect Covered Property from a Covered Cause of Loss, if your liability is: a. Assumed by contract or agreement prior to loss; or b. Required by local ordinance. We will not pay for service charges related to false alarms. 3. Repair of Theft Damage to Non -Owned Buildin �< a � u y . We will pay up to $50,000 in any one °loss o e",for the cost to, repair damages to that part of a building which you occupy but do not own a. The damages resulted directly b. You assume responsibi 4. Taking Inventory We will pay up to $% or the cost of taking inventory to determine 5. Debris Removal and agreement. e "loss,dccurrence" for the extra costs you incur to present a claim, of the damaged or lost property, if we request you to obtain an We will pay the ensuing cost to remove debris of damaged Covered Property after a 'loss occurrence." The most we will pay under the Extension of Coverage in any one 'loss occurrence" is the greater of $50,000 or 25% of the direct physical damage loss. This extension does not apply to costs to: a. Extract 'pollutants" from land or water, or D. Remove, restore or replace polluted land or water. 6. Demolition We will pay the greater of an additional $500,000 or 15% of the value of any damaged building for the cost to demolish and reconstruct the undamaged portion of the building after a "loss occurrence" due to a Covered Cause of Loss if: © Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. r40AArp innn 1nia7 ponds 11 M zF a. At the time of the "loss occurrence" the enforcement of any federal, state or municipal law, ordinance or code specifically necessitates such demolition; and b. At the time of the "loss occurrence" the "Blanket Limit of Insurance" applies to the damaged building, In no event shall this insurance apply to • any cost resulting from demolition necessitated by the enforcement of any law, ordinance or governmental directive which regulates the use or requires repair, removal of or testing for "pollutants," contaminants, asbestos or other hazardous substances. In applying the terms of this Extension of Coverage, building means the specific building damaged in the "loss "occurrence" and does not include adjoining or contiguous buildings connected by common roofs, walls or passageways. This Extension of Coverage includes the cost to remove the debris of the portion of the building which had to be demolished. 7. "Increased Cost of Construction" We will pay the greater of an additional $500,000 or on the value of that building as shown in the mosJ& "Increased Cost of Construction." This Extensios a. The damaged or destroyed build building of like height, floor area_A b. Repair or rebuilding is c. You have provided t specific value for the 4e,6f-any damaged building, based of'pTope4� on file with us, for your for the same occupancy with a "loss occurrence;" and prior to the 'loss occurrence" which declares a This Extension of Coverage is lintthe costs required to meet the minimum code requirements needed to reoccupy the building for ormer use. In no event shall this insurance apply to any cost resulting from increased costs necessitated by the enforcement of any law, ordinance or governmental directive which regulates the use or requires repair, removal of or testing for "pollutants," contaminants, asbestos or other hazardous substances, nor shall this insurance apply to any portions of the building not damaged or destroyed in the "loss occurrence." In applying the terms of this Extension of Coverage, building means the specific building damaged in the 'loss occurrence" and does not include adjoining or contiguous buildings connected by common roofs, walls or passageways. 8. Fire Protection Devices We will pay up to $10,000 in any one "loss occurrence" to refill or recharge fire protection devices which have been discharged either during the course of fighting a fire or by accident at a "premises" insured under this Policy. This Extension of Coverage does not apply to periodic recharges. S. Lock Replacement © Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. MAMf :p i nnn inial pano 17 of 4R " We will pay up to $500 in any one "loss occurrence" to replace locks which were damaged during a burglary attempt or undamaged locks for which the keys were stolen. 10. "Pollutant" Clean Up and Removal We will pay up to $50,000 in any one "loss occurrence" for loss or damage, or to clean your buildings and personal property insured under this Policy which have become contaminated by "pollutants" if the discharge, dispersal, seepage, migration, release or escape of the "pollutants" is caused by or results from a Covered Cause of Loss. In addition we will pay up to $10,000 in any one "loss occurrence" to reimburse your expense to extract "pollutants" from land or water on your "premises" if the discharge, dispersal, seepage, migration, release or escape of the "pollutants" is caused by or results fro Covered Cause of Loss. This Extension of Coverage does not apply to costs nitor or assess the existence, concentration or effects of "pollutants." However, as th 'lima ' 'cated above, we will pay for testing which is performed in the course of extractin a II (iNeont ground or water. 11. Arson and Crime Reward In the event that a covered loss is Policy: a. We will reimburse you the perpetrators; or w b. If you are a member information leading to The Policy Deductible does not 12. Utility Interruption -� against property insured undei this pay for information leading to convictions of and reward program sponsored by us, rewards for )rs will be paid through that program. rewards. We will pay up to $100,000 in any one "loss occurrence" for loss or damage to your Covered Property caused by the interruption of utility service to your "premises". The interruption must result from direct physical loss or damage to utility property by a Covered Cause of Loss insured against by this Policy. 13. Sewer Back Up During Flooding We will pay up to $25,000 in any one "loss occurrence" for damage to your Covered Property caused by water which has backed up through sewers, drains or sumps during periods of external flooding caused by the overflow of rivers, streams, creeks, lakes, reservoirs or similar bodies of water on the surface of the ground which are not your responsibility to maintain. This coverage will apply only when the water has backed up through sewers, drains or sumps that are within buildings included in the Schedule of Property you have provided to us. ©Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. MARA(:D innn 1n/Q7 Donn V% of AA H. LIMITATIONS TO COVERED PROPERTY Except as limited herein, we will not pay for loss of or damage to: 1. Steam boilers, steam pipes, steam engines or steam turbines caused by or resulting from any condition or event inside such equipment. But we will pay for loss of or damage to such equipment caused by or resulting from an explosion of gases or fuel within the combustion chamber or firebox of any fired vessel or within the flues or passages through which the gases of combustion pass. 2. Hot water boilers or other water heating equipment caused by or resulting from any condition or event insidetsuch boilers or equipment. But we will pay for loss of or damage to such equipment caused by or resulting from an explosion of gases or fuel within the combust' . chamber or firebox of any fired hot water vessel or within the flues or passages through which th a f combustion pass. 3. Gutters and downspouts caused by or resulting from weig f snow, ice oe sleet. 4. The interior of any building or structure, or to perc&pl itx, in the building or structure, caused by or resulting from rain, snow, sleet, ice, sand or ri en bywidd or not, unless: \;/ a. The building or structure first sustain d ag by a of loss to its roof, walls, doors or windows and the rain, snow, sleet, ' or dust ►� interior through such damaged roof, walls, doors or windows; or b. The loss or damage is cau "rO ging of snow, sleet or ice on the building or structure. 5. Building materials and supplie beet from your insured building under construction or renovation caused by or resulting frorrKth "`' 6. Property that is missing, where the only evidence of the loss or damage is a shortage disclosed on taking inventory, or other instances where there is no physical evidence to show what happened to the property. 7. Property that has been transferred to a person or to a place outside the described "premises" on the basis of unauthorized instructions. I. COVERED CAUSES OF LOSS Covered Causes of Loss, as used in this Policy, means risks of DIRECT PHYSICAL LOSS unless the loss is: 1. Excluded in this Policy; or 2. Limited in this Policy. © Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc, with its permission. (WhAr`0 1nnn 1n/o7 Pony 1a of 11A J. EXCLUDED RISKS OF DIRECT PHYSICAL LOSS 1. We will not pay for loss or damage caused directly or indirectly by any of the following. Such loss or damage is excluded regardless of any other cause or event that contributes concurrently or in any sequence to the loss. a. Building Ordinance Enforcement Except as provided under G. EXTENSIONS OF COVERAGE, we will not pay for the enforcement of any building, zoning or land use ordinance or law: (1) Regulating the construction, use or repair of any propert or establishing zoning or land use requirements; (2) Requiring the tearing down of any property, incl (3) Requiring clean-up, repair or hazardous substances. b. Earth Movement We will not pay for any ke d `teRoving its debris; or by: 1 asbestos or other (1) Any earth movem a 1I1an'-siri4ole Ilapse), such as an earthquake, landslide, mine subsidence or earth 'sin or sh!Wnrg. But if loss or damage by fire or explosion results, we will pay for that res .e. (2) Volcanic eruption, explosion usibn. But if loss or damage by fire, building glass breakage, theft by looters, or volcanic action results, we will pay for that resulting loss or damage. Volcanic eruption means the eruption, explosion or effusion of a volcano. Volcanic action means direct loss or damage resulting from the eruption of a volcano when the loss or damage is caused by: (a) Airborne volcanic blast or airborne shock waves; (b) Ash, dust or particulate matter; or (c) Lava flow. All volcanic eruptions that occur within any 168 -hour period will constitute a single occurrence. Volcanic action does not include the cost to remove ash, dust or particulate matter that does not cause direct physical loss or damage to the described property. © Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. r.Ae&Ar-0 innn i=7 P2no Is „f lar, This Exclusion does not apply to the following SPECIAL PROPERTY COVERAGES: (1) 'Valuable Papers;" (2) Accounts Receivable; (3) Computer Equipment and Electronic Media; (4) Fine Arts; (5) Mobile, Portable or Contractor's Equipment; and (6) "Emergency Service Portable Equipment.' c. Collapse Unless collapse is caused by: (1) Fire, lightning, explosion, commotion, vandalism, weight of snow, ice, rairt (a) Sinkhole collap spaces created sinkhole is excl (b) Falling objects does not ft or vehicle collision, riot or civil io apse, volcanic action, failing objects, , or water damage. King or collapse of land into underground empty underlying rock formations. The cost of filling the loss or damage to: (i) Personal property in the open; or (ii) The interior of a building or structure, or personal property inside a building or structure, unless the roof or an exterior wall of the building or structure is first damaged by the failing object. (c) Water damage means accidental discharge or leakage of water or steam as the direct result of the breaking or cracking of any part of a system, appliance or pipe containing water or steam. (2) Hidden decay, insect or vermin damage. (3) Weight of people or personal property. © Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. MARM'P innn ini07 Done IR of 1AF I (4) Use of defective material or methods in construction, remodeling or renovation if the collapse occurs during the course of the construction, remodeling or renovation. However, if the collapse occurs after construction, remodeling or renovation is complete and is caused in part by a cause of loss listed under a. above, we will pay for the loss or damage even if use of defective material or methods, in construction, remodeling or renovation, contributes to the collapse. If loss by fire results from an uncovered collapse, we will pay for that resulting fire loss or damage. d. Water We will not pay for any loss or damage caused or aggravated by: (1) Flood, surface water, waves, tides, tidal waves, overflow4k any body of water, or their spray, all whether driven by wind or not; (2) Mudslide or mudflow; (3) Except as provided under G. EXTEN VERAGE.Iwater that backs up or flows from a sewer, drain or sump duri a{oodr caused by the overflow of rivers, streams, creeks, lakes, re water on the surface of the ground; (4) Water under the grown _ [& o 7Ag or seeping through: (a) Foundations, (b) Basements, whethe a alo ot; or (c) Doors, windows or other if the pressing, flowing or seeping is due to external flooding caused by the overflow of rivers, streams, creeks, lakes, reservoirs or similar bodies of water on the surface of the ground. But if loss or damage by fire, explosion or sprinkler leakage results, we will pay for that resulting loss or damage. This Exclusion does not apply to the following SPECIAL PROPERTY COVERAGES: (1) 'Valuable Papers;" (2) Accounts Receivable; (3) Computer Equipment and Electronic Media; © Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. ('AAAA(:A lnnn 1n/07 Dano 17 nf'AA 0 (4) Fine Arts; (5) Mobile, Portable or Contractor's Equipment; and (6) "Emergency Service Portable Equipment." e. Utility failure L Except as provided under E. SPECIAL PROPERTY COVERAGES and G. EXTENSIONS OF COVERAGE, the failure of power or other utility service supplied to the described "premises," however caused, if the failure occurs further than 250 feet away from the described 'premises." But if the failure of power or other utility service results in a Covered Cause of Loss, we will pay for the loss or damage caused by that Covered Cause of Loss.: Government Action Seizure or destruction of property by order ' a uthon�ty: But we will pay for acts of fire to prevent its spread. g. War and Military (1) War, incl (2) Warlike action by or expected attack, other agents; or and taken at the time of a :e, including action in hindering or defending against an actual mment, sovereign or other authority using military personnel or (3) Insurrection, rebellion, revolution, usurped power or action taken by governmental authority in hindering or defending against any of these. h. Nuclear Reaction Nuclear reaction or radiation, or radioactive contamination, however caused. But if loss or damage by fire results, we will pay for the loss or damage caused by that fire. I. Pollution Except as provided under G. EXTENSIONS OF COVERAGE, we will not pay for any loss or damage caused or aggravated by the actual, alleged or threatened discharge, dispersal, release, escape, seepage or migration of °pollutants," whether or not intended or expected from your standpoint, nor for any loss, cost, liability or expense to test for, monitor, clean up, remove, contain, treat, detoxify, neutralize, or in any way respond to, or assess the effects of any "pollutants." © Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. MARWO 1 nnn in/a7 Panna 1 R of 4r, j. Asbestos Asbestos, asbestos fibers, any product containing asbestos or asbestos fibers, or any governmental direction or request declaring that asbestos material present in or part of or utilized on any portion of property can no longer be used for the purpose for which it was intended or installed and must be removed or modified. This exclusion shall not apply to asbestos material damaged as a result of fire, lightning, explosion, riot, civil commotion, smoke, vehicle impact, windstorm, hail, vandalism, malicious mischief or sprinkler leakage occurring during the term of this Policy. 2. We will not pay for loss or damage caused by or resulting from any of the following: a. Artificially generated electrical current, including electric appliances or wires except as provided under E. S� Computer Equipment and Electronic Media. ,. - But if loss or damage by fire results, we will b. Delay, loss of use or loss of c. Smoke, vapor or gas from d. (1) Wear and tear (2) Rust, corrosion, fungus, weight loss, evaporation (3) Smog; 0 disturbs electrical devices, PERTY COVERAGES, S. foss or damage. operations. decay, deterioration, hidden or latent defect, shrinkage, ry in property that causes it to damage or destroy itself; (4) Settling, cracking, shrinking or expansion of pavements, foundations, walls, floors, roofs or ceilings including damage caused by tree or plant roots; (5) Insects, birds, rodents or other animals; (6) Mechanical breakdown, including rupture or bursting caused by centrifugal force except as provided under E. SPECIAL PROPERTY COVERAGES, 5. Computer Equipment and Electronic Media; (7) Dampness or dryness of atmosphere; (8) Changes in, or extremes of, temperature; or (9) Marring or scratching. ©Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. e�iunec :c i nnn i nia7 Dano IQ .,f za But if loss or damage by covered causes of loss or building glass breakage results, we will pay for that resulting loss or damage. e. Explosion of steam boilers, steam pipes, steam engines or steam turbines owned, leased or operated by you or operated under your control. But if loss or damage by fire or combustion explosion results, we will pay for that resulting loss or damage. We will also pay for loss or damage caused by or resulting from the explosion of gasses or fuel within the furnace or fire box of any fired vessel or within the flues or passages through which the products of combustion pass. f. Water, other liquids, powder or molten material that conditioning or other equipment (except fire protea,( freezing, unless: (1) You make a good faith effort to (2) You drain the equipment g. Dishonest or criminal representatives or aw (1) While acting alol%Lor in (2) Whether or not occu n w�pers; or from plumbing, heating, air caused by or resulting from ; or maintained. ployees, directors, trustees, authorized for any purpose: — hours of employment. This exclusion does not apply to acts of destruction by your employees, but theft by employees is not covered. h. Voluntary parting with any property by you or anyone else to whom you have entrusted the property due to the acceptance of counterfeit currency, or checks or promissory notes that are not paid upon presentation. I. Rain, snow, ice or sleet to personal property in the open. j.. Obvious continuous or repeated seepage or leakage of water or steam from within a plumbing, heating or air conditioning system, or from within any domestic appliance which occurs over a period of 14 days or more. If loss by water not otherwise excluded ensues, we will cover the cost of tearing out and replacing any part of the covered building required to effect repairs to the plumbing, heating, air conditioning or domestic appliance, but we will not pay for loss to the system or appliance from which the water or steam escapes. © Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. :RAKA�R innn 1n/47 Dana >n of QF 3. We will not pay for loss or damage caused by or resulting from any part of the following. But if loss or damage by a Covered Cause of Loss results, we will pay for that resulting loss or damage. a. Weather conditions, but this exclusion only applies if weather conditions contribute in any way with an excluded Cause of Loss. b. Acts or decisions, including the failure to act or decide, of any person, group, organization or governmental body. c. Faulty, inadequate or defective: (1) Planning, zoning, development, surveying or siting; (2) Design, specifications, workmanship, repair, compaction; (3) Materials used in repair, construction, (4) Maintenance of part or all of K. PROPERTY CONDIT14 The following Property 1. Policy Period and PA a renovation, remodeling, grading, 'premises". to the Common Policy Conditions. We will pay for loss or damoiTered property which commences during the Policy Period shown in the Declarations and occulW the United States of America, or while the covered property is temporarily located anywhere else in the world subject to the limitations contained elsewhere in this Policy. Transfer of Rights of Recovery Against Others to Us If any person or organization to or for whom we make payment under the Property Provisions of this Policy has rights to recover damages from another, those rights are transferred to us to the extent of our payment. That person or organization must do everything necessary to secure our rights and must do nothing after a loss to impair them. But you may waive your rights against another party in writing: a. Prior to a loss to the Covered Property; or b. After a loss to the Covered Property only if, at time of loss, that party is one of the following: (1) Someone insured under this Policy; (2) A business firm: . © Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. MAKAr:p lnnn 1nIa7 puna 71 of 'AA (a) Owned or controlled by you; or (b) That owns or controls you; or (3) Your tenant This will not restrict your insurance. 3. Reporting of Values to This Company At each anniversary, you agree to furnish us with a Schedule of Property for all property to be insured under this Policy. This Schedule of Property shall include the follo information: a. Street address or plat description of all property to bei . b. 100% replacement cost value of all property to in c. A brief description of the construction of ch location. If a location is not reporte such. 4. Loss Conditions a. Abandonment There can be no abanc b. Appraisal us. acquired location and covered as If we and you disagree on the value of the property or the amount of loss, either may make written demand for an appraisal of the loss. In this event, each party will select a competent and impartial appraiser. The two appraisers will select an umpire. If they cannot agree, either may request that selection be made by a judge of a court having jurisdiction. The appraisers will state separately the value of the property and amount of loss. If they fail to agree, they will submit their differences to the umpire. A decision agreed to by any two will be binding. Each party will: (1) Pay its chosen appraiser; and (2) Bear the other expenses of the appraisal and umpire equally. If there is an appraisal, we will still retain our right to deny the claim. © Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. Muraer .P i nnn in/07 p!Mno 77 of %A 9 c. Duties at Time of Loss You must see that the following are done in the event of loss or damage to Covered Property: (1) Notify the police if a law may have been broken. (2) Give us prompt notice of the loss or damage. Include a description of the property involved. (3) As soon as possible, give us a description of how, when and where the loss or damage occurred. (4) Take all reasonable steps to protect the Covered Property f om further damage, and keep a record of your expenses necessary to protect the Cove d perty, for consideration in the settlement of the claim. This will not increase the Li u ce. However, we will not pay for any subsequent loss or damage resulting from at is not a Covered Cause of Loss. Also, if feasible, set the damaged pri& aside d'k it in the best possible condition for examination. (5) At our request, give us complete in LarMtj amaged property. Include quantities, cost, values and amo f (6) Permit us to inspect t i the amage and examine your books and records. Also pe s to s and undamaged property for inspection, testing and analys i akgfrom your books and records. (7) If requested, permit fton yoT under oath, at such times as may be reasonably required, about any matt r elti to this insurance or your claim, including your books and records. In such event, y wens must be signed. (8) Send us a signed, swom statement of loss containing the information we request to investigate the claim. You must do this within 60 days after our request. We will supply you with the neces- sary forms. (9) Cooperate with us in the investigation or settlement of the claim. d. Loss Payment (1) In the event of loss or damage to Covered Property, we will make settlement by whichever of the following methods is least costly: (a) Pay the value of lost or damaged property; (b) Pay the cost of repairing or replacing the lost or damaged property; (c) Take all or any part of the property at an agreed or appraised value; or Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. MAAAr .P i nnn 1 n/07 Pang 7Z of 4F (d) Repair, rebuild or replace the property with other property of like kind and quality. (2) We will not pay you more than your financial interest in the Covered Property. (3) We will give notice of our intentions within 30 days after we receive the swom statement of loss. (4) We may adjust losses with the owners of lost or damaged property, if other than you. If we pay the owners, such payments will satisfy your claims against us for the owners' property. We will not pay the owners more than their financial interest in the Covered Property. (5) We may elect to defend you against suits arising from this at our expense. (6) We will pay for covered losses or damage of loss, if: (a) You have complied with all of the (b) (i) We have reached (ii) An appraisal 5. Concealment or Fraud of owners of property. We will do the swom statement This entire Policy shall be void if, whether before or after a loss, you have willfully concealed or misrepresented any material fact or circumstance concerning this insurance, or the subject thereof, or your interest therein, or in case of any fraud or false swearing by you relating thereto. 6. legal Action Against Us No one may bring a legal action against us under the Property Section of this Policy unless: a. There has been full compliance with all of the terms in the Property Section of this Policy and the Policy Conditions; and b. The action is brought within one (1) year after the date on which the direct physical loss or damage occurred, unless otherwise provided by statute. Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. r. mr•p i nnn in/Q7 Dona 1d „f 1AR • 7. No Benefit to Bailee No person or organization, other than you, having custody of Covered Property will benefit from this insurance. 8. Insurance Under More Than One Coverage If two or more of this Policy's coverages apply to the same loss or damage, we will not pay more than the actual amount of the loss or damage. 9. Other Insurance You may have other insurance subject to the same plan, terms, conditions and provisions as the insurance under this Policy. If you do, we will pay our share of the covered loss or damage. Our share is the proportion that the applicable Limit of Insurance in tt& Policy bears to the combined limits of insurance of all insurance covering on the same basis. _ . '1%, 10. Excess Insurance You may cavy non-contributing exce in uctiiibi the applicable Limit of Insurance under this Policy. 11. Joint Loss Agreement a. If damage a cover tion in this Policy which is also designated in a Boiler and Machine o i _ ay dAure ment between insurers about: (1) Whether such a ?'Quits from a cause of loss insured against by this Policy or the Boiler and Machinery po&y (2) The extent this Policy and the Boiler and Machinery policy share the partial or whole loss insured against. b. In these events, upon your written request, we will pay one half of the amount of the loss which is in conflict, but we will not pay more than we would have paid if there had been no Boiler and Machinery policy in effect, subject to the following conditions: (1) The amount of loss which is in conflict will be limited to the least amount still owed under either the Boiler and Machinery policy or this Policy. This amount is set only after arrangements are made for any undisputed claims under the policies and the amount of loss is agreed upon by you and all insurers. (2) The Boiler and Machinery insurer will, at the same time, pay you one half of the amount which is in conflict. © Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. MARAr.P 9 nnn in/07 Pana 75 of ZA (3) If we and you do not agree on the value of the property or the amount of loss, either may make written demand for an appraisal of the loss. In this event, each party will select a qualified and neutral appraiser. The two appraisers will select an umpire. If they cannot agree, either may request that selection be made by a judge of a court having jurisdiction in that area. The appraisers will submit a joint statement of the value of the property and amount of loss. If they fail to agree, they will submit their differences to the umpire. A valuation agreed by any two will be binding. Each party will: (a) Pay its chosen appraiser, and (b) Bear the other costs of the appraisal and umpire equally. If we submit to an appraisal, we will still keep our right to deny the claim. (4) With respect to the appraisal, you agree to cooperate. (5) If the Boiler and Machinery policy does not carry provisions of this condition will not apply. (6) If you accept any sums paid under the pi will not be altering, waiving, giving up, or 12. Recovered Property If either you or we recover any notice. At your option, the prope paid to you for the property. We property, subject to the Limit I13. Valuation Covered Property will be a. Your Property provisions to these conditions, the including the appraisal, you stt any of the insurers. Fht party must give the other prompt nust then return to us the amount we the expenses to repair the recovered Except as provided below, or elsewhere in this Policy, we will determine the value of your Covered Property at replacement cost at the time and place of loss. Replacement cost means that the repair or replacement will be made with materials or property of like kind, quality or function. We will not pay more for loss on a replacement cost basis than the least of: (1) The applicable amount of insurance; (2) The amount which would be required to rebuild, repair or replace the property if it were on the same site, however, you do not have to replace the property at the same site; or (3) The amount you actually spend that is necessary to repair or replace the lost or damaged property. Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. MAWn P i nnn inion panda 1A of ZR 1 A 0 You may make a claim for the loss or damage covered by this insurance on an actuat cash value basis instead of on a replacement cost basis. In the event that you do elect to have the loss settled on an actual cash value basis, you may still make a claim for the replacement cost if you notify us of your intent to do so within 180 days after the date of the "loss occurrence." We will not pay on a replacement cost basis for any loss or damage: (1) Until the lost or damaged property is actually repaired or replaced; and (12) Unless the repairs or replacement have begun within three (3) years after the date of the loss or damage. b. Tenants' Improvements and Betterments < (1) If repaired or replaced at -your expense within ' e time after the loss, the replacement value of the im ro destroyed or damaged 9 Y P _ n Witerments:; (2) If not repaired or replaced within cost at the time of installation which the unexpired term of the time of loss bears to e made to the expiration d (3) If repaired or rel this Policy. c. "Business Income" We will determine the amount of b'Ioss, that portion of the original pTed -improvements and betterments it, whether written or oral, in effect at improvements and betterments- were for your use, there shall be no liability under Income" loss based on: (1) Your Net Income before the loss or damage to Covered Property by the `loss occurrence;" (2) Your likely Net Income if no loss or damage had occurred; (3) The operating expense, including payroll expenses, necessary to resume "operations" with the same quality of service that existed just before the loss or damage; and (4) Other relevant sources of information, including but not limited to: (a) Your financial records and accounting procedures; (b) Bills, invoices and other vouchers; and (c) Deeds, liens or contracts. © Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of insurance Services Office, Inc. with its permission. r` AUr`P innn in/o7 Penn '77 of QF We will reduce the amount of your "Business Income" loss to the extent that you can resume your "operations," in whole or in part, by using damaged or undamaged property at the "premises' or elsewhere. If you do not resume "operations," or do not resume operations as quickly as possible, we will pay based on the length of time it would have taken to resume "operations" as quickly as possible. d. Extra Expense We will determine the amount of Extra Expense loss based on all expenses that exceed the normal operating expenses that would have been incurred by your "operations" if no direct physical loss or damage had occurred, during the period: (1) Beginning with the date of the "loss occurrence;" and (2) Ending on the date when the property should be speed using property of like kind, quality or functic We will reduce the amount of your Extra Ex normal and discontinue such Extra Expense. e. "Valuable Papers" and Records Valuable Papers and Records, incl ''Iff tho than prepackaged software pWddt (1) Blank materials for reprods; pl (2) Labor to transcribe or c%Lthq-�&•when (3) If no duplicates exist, labor records, media or data. f. Accounts Receivable replaced with reasonable inn return "operations' to electronic or magnetic media (other Is a duplicate; or the records from the previous generation of If you are unable to accurately establish the amount of your Accounts Receivable outstanding at the time of the gloss occurrence," the following method will be used: (1) Determine the average monthly amount of Accounts Receivable for the twelve (12) months immediately preceding the month in which the loss occurred; and (2) Adjust the average for any normal fluctuations in the amount of Accounts Receivable for the month in which the loss occurred or for any demonstrated variance from the average for that month. The following will be deducted from the total amount of Accounts Receivable: © Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. MARAMa 1nnn 1nia7 Dane')A of zR (1) The amount of the Accounts Receivable for which there is no loss; (2) The amount of the Accounts Receivable that you are able to reestablish or collect; (3) An amount to allow for probable bad debts that you are normally unable to collect; and (4) All unearned interest and service charges. g. C¢mputer Equipment Computer Equipment will be valued at the cost to replac,the equipment with equipment of like kind, quality and function. h. Fine Arts Fine Arts will be valued at their appraised been made prior to the "loss occurrence, Fine Arts. I. Mobile, Portable or We will determine thi of the time of the los: j. Miscellaneous Property amage. If no appraisal has to make replicas of the lost r Contractor's Equipment at actual cash value as We will determine the value of the Miscellaneous Property listed under E. SPECIAL PROPERTY COVERAGES at actual cash value as of the time of the loss or damage. k. "Commandeered Property" or "Impounded Property" We will determine the value of "Commandeered Property" or "Impounded Property" at your liability to replace the property to the owner of such property. 1. "Emergency Service Portable Equipment" "Emergency Service Portable Equipment" will be valued at the cost to replace the equipment with equipment of like kind, quality and function. Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. MAKAr`p innn in/= c",.o la r%f zA i m. Communications Equipment Communications Equipment will be valued at the cost to replace the equipment with equipment of like kind, quality and function. n. Buildings Under Construction We will value Buildings Under Construction at the cost to replace the materials damaged or destroyed plus the labor costs required to rebuild the building to the same state of completion as existed at the time of the loss. o. Property of Others Except as provided above, we will determine the value in your care, custody or control at your liability to, property. ' p. Watercraft We will determine the value of damage. 14. Insurance To Value If an Insurance To Value applies to the adjustment o of Others on your "premises" or property to the owner of such a as of the time of the loss or Property Declarations, the following condition )e. We will determine the amount we will pay based upon the following calculations: a. Multiply the actual value of the damaged Covered Property at the time of loss by the Insurance To Value percentage; b. Divide the value of the damaged Covered Property as shown in the Schedule of Property by the amount calculated in Step a.; c. Multiply the total amount of the loss by the percentage determined in Step b.; d. Subtract the deductible from the amount calculated in Step c. The most we will pay for the loss is the amount calculated in Step d. unless this amount exceeds the Limit of Insurance shown in the Property Declarations. If the amount calculated in Step d. exceeds the © Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. r.RRaerp 1 nnn 1 n/07 pone 4n of 4R Y � I Limit of Insurance shown in the Property Declarations, then the most we will pay is the Limit of Insurance. 15. Agreed Amount If Agreed Amount is indicated in the Property Declarations, the following conditions apply to your coverage for Building and Structures and Personal Property. a. This Agreed Amount condition supersedes the 14. Insurance To Value condition above. b. You must provide us with a Statement of Values. This Statement of Values must include a schedule of all property to be included under this Agreed Amount condition including the replacement cost value of this property. AS, c. This Agreed Amount condition will become effi anniversary date of this Policy if this Policy is writt we receive the Statement of Values if such date date. & d. This Agreed Amount condition expires reinstated only after we receive a new 16. Mortgage Holder Provisions a. The term Mortgage Holder 1 b. We will pay for covered to shown in the Property Decla date of this Policy, the year term, or on the date effective or anniversary Declarations and will be to buildings or structures to each Mortgage Holder gr of precedence, as interests may appear. c. The Mortgage Holder has the right to reale loss payment even if the Mortgage Holder has started foreclosure or similar action on the building or structure. d. If we deny your claim because of your acts or because you have failed to comply with the terms of this Policy, the Mortgage Holder will still have the right to receive loss payment if the Mortgage Holder. (1) Pays any premium due under this Policy, at our request, if you have failed to do so; (2) Submits a signed, swom proof of loss within 60 days after receiving notice from us of your failure to do so; and (3) Has notified us of any change in ownership, occupancy or substantial change in risk known to the Mortgage Holder. All of the terms of this Policy will then apply directly to the Mortgage Holder. Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. rtaeer-p innn Inion panA 'Al of qA e. If we pay the Mortgage Holder for any loss or damage and deny payment to you because of your acts or because you have failed to comply with the terms of this Policy: (1) The Mortgage Holder's rights under the mortgage will be transferred to us to the extent of the amount we pay; and (2) The Mortgage Holder's right to recover the full amount of the Mortgage Holder's claim will not be impaired. At our option, we may pay to the Mortgage Holder the whole principal on the mortgage plus any accrued interest. In this event, your mortgage and note will be transferred to us and'you will pay your remaining mortgage debt to us. f. If we cancel this Policy, we will give written notice to the M. .gag. Holder at least: (1) 10 days before the effective date of cancellation ' can ce('for op-Rayment of premium; or (2) 60 days before the effective date of cancel n cava .I for njirother reason. g. If we elect not to renew this Policy, we a Mortgage Holder at least 10 days before the expiration date of this2o 17. Loss Payable Provisions a. When you and a Loss (1) Adjust any claim for loss or ble interest in covered property, we will: you; and (2) Pay jointly to you and the Loss Payee as interests may appear. b. The Loss Payee has the right to receive loss payment even if the Loss Payee has started foreclosure or similar action on the property. c. If we deny your claim because of your acts or because you have failed to comply with the terms of this Policy, the Loss Payee will still have the right to receive loss payment if the Loss Payee: (1) Pays any premium due under this Policy, at our request, if you have failed to do so; (2) Submits a signed, sworn proof of loss within 60 days atter receiving notice from us of your failure to do so; and © Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. rf*enar.P innn in/07 Ao„o 'Al of 'AF (3) Has notified us of any change in ownership, occupancy or substantial change in risk known to the Loss Payee. All of the terms of this Policy will then apply directly to the Loss Payee. d. If we pay the Loss Payee for any loss or damage and deny payment to you because of your acts or because you have failed to comply with the terms of this Policy: (1) The Loss Payee's rights under the contract will be transferred to us to the extent of the amount we pay; and (2) The Loss Payee's right to recover the full impaired. At our option, we may pay to the Loss Payee the interest. In this event, your contract and note; remaining contract debt to us. & e. If we cancel this Policy, we will give (1) 10 days before the effective (2) 60 days before the E If we elect not to rer before the expiration 18. Unintentional Errors ar the Loss Payee's claim will not be the contract plus any accrued ,to us and you will pay your at least: for non-payment of premium; or cancel for any other reason. notice to the Loss Payee at least 10 days Your failure to report, in the Sche Property you provide to us, all of the property to be insured under this Policy will not prejudice y r coverage for that property provided such omission is not intentional on your part and you report the property to us as soon as you discover the omission. However, this Condition does not apply to "vacant buildings or buildings under construction. L. PROPERTY DEFINITIONS 1. 'Automobile' means a land motor vehicle, trailer or semi -trailer subject to motor vehicle registration. 2. ' "Blanket Limit of Insurance' means a limit of insurance equal to the total value of all of your Buildings, Structures and Personal Property included in the Schedule of Property submitted to us. The "Blanket Limit of Insurance" includes the property covered under E. SPECIAL PROPERTY COVERAGES. If you do not own any buildings or structures, the "Blanket Limit of Insurance" means a limit of insurance equal to the total value of your Personal Property. 3. 'Business Income' means: a. Net,income (Net Profit or Loss before income taxes) that would have been earned or incurred; and © Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. f .RARAr .p i nnn 1 ni07 panda ZZ of 11A b. Continuing normal operating expenses, including payroll. 4. "Commandeered Property" means any real or personal property owned by someone else including "automobiles,' watercraft, aircraft and animals that you commandeer, seize, borrow or take over for official use to handle an emergency situation or to enforce the laws of the local, state or Federal government. 5. "Emergency Service Portable Equipment" means portable firefighting, ambulance or rescue related equipment that you own, or is furnished for your use, for regular emergency services you perform. 6. "Impounded Property' means any real or personal property owned by someone else including 'automobiles," watercraft, aircraft and animals that you takWnd hold in legal custody in your official capacity of enforcing the laws of the local, state or Fede o ment. 7. "Increased Cost of Construction" means the inc co r, rebuild or reconstruct the damaged or destroyed building caused by the enfgW t a. Any building, zoning or land use ordinanc�.� b. Any ordinance, law or code regu zoning or land use requirements] or repair of buildings or establishing provided any such ordinance, la ,rvain`�`� the time and place of the "loss occurrence.' 8. 'Loss Limit of Insurance' me a r Ab y csur that is less than the total values of all of your Buildings, Structures and P o e�ty bW you and we have agreed will be the most we will " n e 'Loss) ii't nsurance" includes the property covered under E. pay in one loss occurre P P SPECIAL PROPERTY CO �'iQu do not own any buildings or structures, the "Loss Limit of Insurance' applies only to your riy. 9. "Loss Occurrence' means a single Covered Cause of Loss event which occurs during the Policy period and results in direct physical loss or damage to Covered Property. As respects windstorm, hail, riot or civil commotion, a 'loss occurrence" includes all loss or damage occurring or commencing during a period of 72 consecutive hours. When filing proof of loss, you may decide when this period begins. As respects freezing, a "loss occurrence" includes all loss or damage occurring or commencing during a period of 168 consecutive hours. When filing proof of loss, you may decide when this period begins. 10. "Operations' means your business activities; and as respects "Rental Value," the tenantability of the described "premises'. 11. "Period of Restoration" means the period of time that: Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. MAKAl .0 l nnn in/07 Dana Qd of 119 a. Begins with the date of direct physical loss or damage caused by or resulting from a "loss occurrence' at the described °premises"; and b. Ends on the date when the property at the described "premises" should be repaired, rebuilt or replaced with reasonable speed and similar quality. "Period of Restoration' does not include any increased time required due to the enforcement of any ordinance or law that: a. Regulates the construction, use or repair, or requires the tearing down of any property; or b. Requires any insured, or others, to test for, monitor, G4 an up, remove, contain, treat, detoxify, neutralize, or in any way respond to, or assess the eff s ` oilutants." • \ The expiration date of this Policy will not cut short th riod'o Restoration.' 12. 'Pollutants' means any solid, liquid, gaseo r irritant; contaminant, corrosive or toxic substance, including smoke vapors, soot, fu a is,, che, Gals and waste. Waste includes materials to be recycled, reconditioned or c 'Premises' means a location describ n Sched perty you have given to us for buildings or other structures you own or occu clu rou paved surfaces adjacent to the buHdrng or lic-str orAffi o v lot lines. 13. structure, and bounded by pub 14. `Rental Value' means the: a, Total anticipated rental and equipped by you; occupancy of the described 'premises' as furnished b. Amount of all charges which are the legal obligation of the tenant(s) and which would otherwise be your obligations; and c. Contractual rent payments on any portion of the described "premises' which is occupied by you. 16. `Specified Cause of Loss' means the following: Fire; Lightning; Explosion; Windstorm or Hail; Smoke; Aircraft or Vehicles; Riot or Civil Commotion; Sinkhole Collapse; Volcanic Action or Falling Objects. Sinkhole coQapse means the sudden sinking or collapse of land into underground empty spaces created by the action of water on limestone or dolomite. Sinkhole collapse does not include: a. The cost of filling sinkholes; or b. Sinking or collapse of land into man-made underground cavities. 16. "Vacant" means any building that: © Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. MA JI ) 9 nnn 1=7 Dona 4r, r%f 4F. a. Does not contain enough contents to conduct customary `operations;" or b. Has no portion occupied or in use; A building which otherwise meets this definition of vacant will not be considered vacant if there are other occupied buildings on the same 'premises." A building in course of construction or renovation will not be considered "vacant." 17. 'Valuable Papers" means books of account, manuscripts, abstracts, drawings, card index systems, film, tape, disc, drum, cell or other data processing, or recording or storage media. 6Z -V Secretary mom r. President Copyright, Coregis Insurance Organizations, 1997 Includes copyrighted material of Insurance Services Office, Inc. with its permission. r•. ARW..p innn ini07 pang za e%f zF I I D V ff10 a a G c.�An�r coma�r►v ENDORSEMENT THIS ENDORSEMENT CHANGES THE. POLICY. PLEASE READ IT CAREFULLY. EARTHQUAKE ENDORSEMENT This endorsement modifies insurance provided under the following: SCHOOLS PACKAGE POLICY - PART I MUNICIPALITIES PACKAGE POLICY - PART I SCHOOLS PROPERTY POLICY MUNICIPALITIES PROPERTY POLICY This endorsement replaces the "Earthquake" or Earth onPolicy. All other terms, conditions, definitions, exclusions and Limit a i i4,uhchanged. EARTHQUAKE LIMIT OF INSURANCE, ® $ Is to $ Is the by "E o nZhinsured occurrence" for loss or damage property or how many Jeolv samerthquake occurrence." ate during the Policy Year for loss or damage much insured property or the number of nces" are involved. Once the Aggregate Earthquake Limit has been paid, there will be no reinstatement of the Earthquake Limit of Insurance for the remainder of the Policy Year. EARTHQUAKE OCCURRENCE DEDUCTIBLE $ Will be deducted from the claim for loss or damage in any one "earthquake occurrence." All insured property damaged or destroyed in the same "earthquake occurrence" will be subject to this one Earthquake Occurrence Deductible; or % Of the value of the damaged or destroyed property will be deducted from the claim for loss or damage in any one "earthquake occurrence." This one deductible percentage will be applied to the sum of the values of all insured property damaged or destroyed in the same "earthquake occurrence." DEFINITIONS Earthquake CXPEP. 1004 10/97 Page 1 of 2 I "r " - As respects this endorsement, Earthquake will mean any earth movement such as earthquake (including earthquake aftershocks), landslide, mine subsidence, sinkhole collapse, volcanic eruption, explosion or effusion, or any other earth sinking, rising or shifting. Earthquake Occurrence As respects this endorsement, an earthquake occurrence shall mean all damage occurring within 168 consecutive hours caused by the same "Earthquake," or its after shocks, no matter how much insured property is involved in these events. The expiration of this Policy will not reduce this 168 hour period. CXPEP.1004 10/97 Page 2 of 2 C AD UREGI i A GE Capital Company ENDORSEMENT THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. FLOOD ENDORSEMENT This endorsement modifies insurance provided under the following: SCHOOLS PACKAGE POLICY - PART I MUNICIPALITIES PACKAGE POLICY - PART I SCHOOLS PROPERTY POLICY MUNICIPALITIES PROPERTY POLICY This endorsement replaces the "Flood" or definitions, exclusions and Limits of Lim FLOOD LIMIT OF terms, conditions, llfftd occurrence" for loss or damage to uch insured property or how many insured "flood occurrence." Is t will fay in aggregate during the Policy Year for loss or damage by o matter how much insured property or the number of "flood occurNr ces" are involved. Once the Aggregate Flood Limit has been paid, there will be no reinstatement of the Flood Limit of Insurance for the remainder of the Policy Year. FLOOD OCCURRENCE DEDUCTIBLE $ Will be deducted from the claim for loss or damage in any one "flood occurrence" except as specified under the Special Flood Deductible below. All insured property damaged or destroyed in the same "flood occurrence" will be subject to this one Flood Occurrence Deductible; or % Of the value of the damaged or destroyed property will be deducted from the claim for loss or damage in any one "flood occurrence" except as specified under the Special Flood Deductible below. This one deductible percentage will be applied to the sum of the values of all insured property damaged or destroyed in the same "flood occurrence." SPECIAL FLOOD DEDUCTIBLE Property designated as being within "Flood Zone A" or "Flood Zone V" by the Federal Emergency Management Agency (FEMA), or within a 100 Year Flood Plain as designated by the United States Army Corps of Engineers, will have a Special Flood Deductible equal to all flood insurance available for such r property under the National Flood Insurance Program, whether purchased or not. If such property is not eligible for the National Flood Insurance Program because the community in which the property is located does not participate in the National Flood Insurance Program, the Special Flood Deductible will be $1,000,000 per insured location damaged in the "flood occurrence." When property included under this Special Flood Deductible is lost or damaged in the same "flood occurrence" with other insured property, only the largest of the applicable deductibles specified above shall apply to the "flood occurrence." 17 Mktl[a]ki Flood As respectA this endorsement, Flood will mean the flow of any body of water into areas that are normally dry, including: 1. Flood, waves, tides, tidal waves, overflow of any body of water, or their ray, all whether driven by wind or not; 2. Water that accumulates on the surface of the ground a f rain, leet or hail; 3. Mudslide or mudflow; 4. Water that backs up from a sewer #; Or J 5. Water under the ground Flood Occurrence As respects this endorsement, consecutive hours caused by the the event. The expiration of this Flood Zone A or basement walls or floors. %ccurrence shall mean all damage occurring within 168 Dod" event no matter how much insured property is involved in not reduce this 168 hour period. Property will be determined to be within a Flood Zone A if it is within an area designated as such on a FEMA Flood Insurance Rate Map or a Flood Hazard Boundary Map. Flood Zone A will include, but not be limited to, all of the sub -classifications of AO, AH, AE, AR, Al through A30 and A99, or any other sub- classification with the A prefix or designation. Flood Zone V Property will be determined to be within a Flood Zone V if it is within an area designated as such on a FEMA Flood Insurance Rate Map or a Flood Hazard Boundary Map. Flood Zone V will include, but not be limited to, all of the sub -classifications of VO, VH, VE, VR, V1 through V30 and V99, or any other sub- classification with the V prefix or designation.