CLUB VILLAGES, LLC v. WESTCHESTER SURPLUS LINES INSURANCE COMPANY Complaint

Case 9:10-cv-81482-WJZ Document 1-4 Entered on FLSD Docket 11/16/2010 Page 2 of 98
IN THE CIRCUIT COURT OF THE FIFTEENTH ruDICI.AL CIRCUTT

IN A}ID FOR PALM BEACH COUNTY, FLORIDA
CryIL DIVISION
CLIJB VILLAGES, LLC as assignee of GOLD 50 z0lfi 0A0 ¿ 6 6

COAST REALTY II.II/ESTORS, LLC, 17 xxfixtr
Petitioners, Case No.:
v.
wEsrcHEsrER suRpLUs LrNES rNsuRANcE coMpANr

4fr
Rrce¡v*8råä
FILTNG
Respondent.
täT 3 | ¿Ûta
p'rrrroN ro coMpEL AppRArsAL.

COMPLAINT FOR BREACH OF CONTRACT;
*r"""tffiilïiffi*
AND DECLARATORJ JUD@TENT
Petitioner, CLUB VILLAGES, LLC as assignee of GOLD COASTREALTY
INVESTORS, LLC, , (hereinafter'?etitionet'), by and through the undersigned counsel, files
this Petition to Compel Aþpraisal, Select Umpire, Complaint for Breach of Contact, and
Declaratory Judgment against Respondent, WESTCHESTER SLJRPLUS LINES INSLJRANCE
COMPANY and states the following:
GENERAL ALI,ESAI$ONS
l. This is an action for damages in excess of Fifteen Thousand Dollars ($15,000.00)
exolusive of court costs, prejudgment interest and attomeys fees.
2. At all times material hereto, Petitioner had an insurable interest in real property
located at 1601 N.W. l3'h Street, Boca Raton, Palm Beach County, Florida (hereinafrer the
"insured premises").
3. At all times material hereto, Respondent was an insurance company authorized to
conduct business in the State of Florida and was engaged in the business of inswance in Palm
Beach County, Florida.
4 ln consideration of the premiums paid to it by Petitioner, Respondent issued to
Petitioner in Palm Beach County, Florida, a contract of insuance, bearing policy number
D3505433 5001. A copy of the policy is attached hereto as Erhibit "1".
5. On or about October 24,2A05, Hur¡ica¡re

rüilma, a covered peril, struck the south
Florida area, damaging the Petitioner's insured premises,
6, The subject insurance policy was in fult force and effect at the time of the loss.
7, Petitioner timely notified tl¡e Defendant, WESTCHESTER SURPLUS LINES
INSURANCE COMPANY, by and through one of its agent(s), and/or representatives, and
provided notice of the covered loss.
8. Petitioner has complied with all conditions precedent to the filing of this action,
and/or they have been waived by Respondent.
g. Respondent has failed to pay the Petitioner's for the covered damages as required
under the policy.
10. Pursuant to the appraisal provision contained within the policy, should either party
dispute the value of the lóss, either parly may request appraisal.
ll. Petitioner previously made their written demand for appraisal on or about
December 10, 2A09. WESTCHESTER SURPTUS LINES INSURANCE COMPANY
acknowledged receipt of said written demand for appraisal in its conespondence dated January 5,
2010; att¿ched hereto as Exhibit

r2.'
12. WESTCHESTER SURPLUS LINES INSLIRANCE COMPANY has previously
admitted that the loss was as a result of a covered peril.
13. During the course of 1VESTCHESTER SURPLUS TINES INSURAì{CE
COMPANY'S investigation, they have requested, and been provided, among other things,
examinations under oath of the Petitione(s), and extensive documentation and/or other materials
evidencing damage(s) to the covered property,
14. Despite the abovq to date Respondent has refused to participate in the appraisal.
couNTJ
COMPEL APPRAISôL.
15. Petitioner re-alleges all allegations contained in Paragraphs I through 14 as
though set forth firlly herein and fr¡rther alloges:
16. This is an action upon the afo¡ementioned policy of insurance which permits
either party to make written demand for an appraisal of a loss in the event the parties disagree on
the amount of the loss.
L?. Respondent has failed to pay Petítioner the full insurance benefits owed under the
policy for the Hurricane Wilma loss to the insured premises.
18. As Petitioner disagrees with the Respondent ove¡ the value of the loss, this claim
is appropriate for the appraisal process.
19. Petitioner made a witten demand to Respondent for an appraisal.
20. Respondent has refused to participate in the appraisal process'
2I. As a result of Respondent's failwe to pay Petitioner the full insurance benefits
owed under the policy, and as a result of Respondent's failu¡e to comply with the appraisal
prooedure set forth in the polic¡ Petitioner has been forced to retain the undenígned atüomeys
and is obligated to pay a reæonable fee for their services. Petitioner is entitled to payment from
Respondent for attorney's fees pursuant to Sectíon 627,428 of the Florida Statutes, legal assistant
fees pursuant to Section 57,104 of the Florida Statules, and attorney's costs, including expert
fees, pr:rsuant to Section 57.041of the Florida Statutes.
WIIEREFORE, Petitioner respectfully requosts that this Court enter an Order compelling
Respondent to immediately proceed with an appraisal of all damages sustained at the insured
premises resulting from Hurricane Vy'ilma. Petitioner further requests that a judgment be entered
for the arnount of the loss as determined by the appraisal award and, if any firrther recovery is
obtained by Petitioner's, that Respondent be required to pay Petitioner's attorney's fees, costs
and prejudgment interest. Petitioner demands a hial by jnry on all issues so hiable. Petitioner
requests such other relief as this Court deems just and proper.
couNr IJ
SELECTION OF I'MPIRN
22. Petitioner re-alleges all allegations contained in Paragraphs I through 21 as
though set forth firlly herein and fu¡ther alleges:
23. This is an action upon the aforementioned policy of insurance which permits
oither party to request that a judge of a court having jurisdiction select an appraisal umpire if the
parties' appraisers carmot agree within 15 days.
24. Respondent has failed to pay Petitioner's tt¡e ñ¡ll insurance benefits owed under
the policy for the Hu¡ricane rüilma loss to the insured premises.
25. The parties disagree regarding the amounts of the subject loss ¡esulting from
hruricane activity.
26. Petitioner made a r¡¡ritten demand for arr appraisal, but Respondent has refused to
participate in the appraisal process other than identifring its appraÍser.
27. As a result of Respondent's failr¡re to proceed with appraisal, the timely selection
of an umpire in accordance with the policy terms hæ failed to occtu.
28. As a result of Respondent's failure to pay Petitioner the full insurance benefits
owed under the policy, and as a ¡esult of Respondent's failwe to comply with the appraisal
procedure set forth in the policy, Petitioner has been forced to retain the undersigned attorneys
and are obligated to pay a reasonable fee for their services. Petitioner is entitled to payment from
Respondent for attomey's fees pu$uant to Section 627 .428 of the Florida Stailtes, legal assistant
fees prrsuant to Section 57.104 of the Flo¡ida Statutes, and atüorney's costs, including expert
fees, ptusuant to Section 57.041 of the Florida Statutes.
29. Petitioner would proposc one of the following candidates to be named as the
umpire in this matter:
a) Walter Colbath ßetired Circuit Court -

Judge 15û Jud. Circuit)
-
b) James Carlisle (Retired Circuil Court Judge 15'Jud. Circuit)
-
c) Roger B. Colton (Retired Circuit Court Judge lsu Jud. Circuit)
Printouts of their backgrounds are attached as Composite Exbib¡t "3t.
WHEREFORE, Petitioner respectfully requests this Honorable Couf appoint and
select an umpire for the appraisal of all damages sustained at the insu¡ed premises resulting from
Huricane Wilma. Petitioner further request that a judgment be entered for the amount of the
loss as determined by the appraisal award and, if any fr¡rther reoovery is obtained by Petitíoner,
that Respondent be required to pay Petitione¡'s attomey's fees, costs and prejudgment interest.
Petitioner's demand a trial by jury on all issues so tiable. Petitioner requests such other relief as
this Cor¡rt deems just and ProPer.
copNT IIr
BREACII oll C.ONTRAçT
FAILU,RE æ PARTICIPATE IN..APPBAI$AL
30. Petitioncr re,alleges the allegations contained in Paragraph I throuùt 29 as
though set forth ftrlly herein and fr¡rther alleges:
3l . This is an aotion upon the aforementioned policy of insr¡rance which permits either
pa¡ty to mske written demand for an appraisal of a loss in the event the parties disagree on the
amount of the loss.
32. The parties disagree regarding the amounts of the subject loss resulting from
Hr¡¡ricane Wilma.
33. Petitioner made a w¡itten demand to Respondent for an appraisal.
34, TVESTCHESTER SURPLUS LINES INSURANCE COMPA}TY hAS TCñ¡SEd tO
participate in the appraisal process.
i¡5. Respondent breached the subject polioy of insurance by failing to comply with
the appraisal procedute sot forth in the policy.
36, Petitionor suffered damage as a result of Respondent's breach of 'the subjeot
polioy.
37. As a ¡esult of Respondent's failure to comply with the appraisal procedure set
forth in the policy, potitioner has been forced to retain the undersigned attomeys and is obligated
to pay a reasonable fee for thei¡ services. Petitioner is entitled to payment from Respondent
for
prusuant
attorney's fees pwsuant to Section 627 .428 of the Florida Statutes, lcgal assistant feos
to Section 57j04 of the Florida Statutes, and attomey's costs, including expert fees, pursuant to
Section 57.041 of the Florida Statutes.
WHEREFORE, Petitioner respectfully demands an award of damages for breach of
contract and an award of attorney fees, a determination as to liability, costs and prejudgment
interest against Respor¡dent. Petitioner fi¡rther demands a trial by jury on all issues so tiable and
such other relief as this Court deems just and proper.
coLlNTIV
pE_CLARATO Ry JUD_çMENT
38. Petitioner re-alleges the allegations contained in Paragraph I through 37 as
though set forth fully herein and fruther alleges:
39, This is an action seeking declaratory relief pursuant to Section 86.011 of the
Florida Statutes.
40. The parties to the aforementioned policy of insurance a¡e in doubt regarding their
rights and obligations under the polioy and have a bona fide dispute conceming whether an
appraisal should be ordered to proceed, the scope of the appraisal, the timeliness of the inst¿nt
action, and the scope of remedy available to Petitioner.
' 41. In the event Petitioner obtains any declaratory relief from this action, or obtains
additional sums for the losses as a ¡esult of a favo¡able outcome of the appraisal, Petitioner seeks
entitlement fo attomey fees, costs and prejudgment interest.
42. The issues of attorney fees, costs and prejudgment interest should be reserved for
the Cou¡t rather than detemrined by the appraisal panel beoause the policy of insu¡anoe limits the
panel's determination to the amount of the losses sustained.
43. CLUB VILLAGES, LLC as assignee of GOLD COASTREALTY INVESTORS,

LLC, insured property was damaged as a result of Hunicane Wilma on or about October 24,
2005.
44. Petitioner timely notífied WESTCHESTER SURPLUS TINES INSURANCE
COMPANY of the covered loss.
45. On or about December 10, 2009, Petitione¡ demanded appraisal pr¡rsuant to the
subj ect insurance pohcy.
46. WESTCHESTER SURPLUS LIMS INSURANCE COMPANY, has admitted
partial coverage under the policy as it has made multiple payments to the inswed to daæ.
47. Florida Statute $ 95.11(2Xb) states in pertinent part that an action for breach of
conhact must be commenced within five (5) years in order to be timely filed.
48. Florida Statute $ 95.11(2)0) does not expressly speciS the point in time from
which the five (5) year statute of limitations begins to ruû, howevcr, some Florida courts have
held that the five (5) year period begins on the date the insurance contract is breached; while
others have held ftom the day of the event giving rise to the claim.
49. IVhils CLUB VILIAGES, LLCas assignee of GOLD COASTREALTY
INVESTORS, LLC, agrees with the rulings that state the breach does not necessarily have to be
the sa¡ne day as the event giving rise to the claim, they recognize the potential implications that
could result from failing to commence an action before the end of the 'altemative' potential
statute of limitations date; that being October 24,201,0 (5 years ftom the date of Hunica¡re
V/ilma). Thus, in an abundance of caution, CLUB VILLAGES, LLC, as assignee of GOLD
COAST REALTY IIIVESTORS, LLC hæ filed the instant action(s) for Petition to Compel
Appraisal, Select Umpire, and Complaint for Breach of Contract'

50, While Petitioner is cognizant of the fact that all post-loss obligations must be
satisfied befo¡e they institute any lawsuit against their insurer, and while it believes in good faith
that it has firlly complíed with said obligations, CLUB VILLAGES,LLC, as assignee of GOLD
COAST REALTY INVESTORS, LLC also recognizes that the Responde.nt may attempt to
allege that it has not satisfied said obligations if, and when, the insured institutes a lawsuit such
as the instant action(s). As such, CLUB VILLAGES, LLC, as assignee of GOLD COAST
REALTY INVESTORS, LLC have filed the instant action(s), the Petition to Compel Appraisal,
Select Umpire, arrd Complaint for Breach of Contract, at this time due to ttre potential statute of
Iimitations issue.
51. CLUB VIILAGES, LLC, as assignee of GOLD COAST REALTY INVESTORS,
LLC is in need of immediate action from this Court in order to protect its legal rights and ability
to scek appropriate remedies from this Court. Specifically, it requests this Honorable Court to
declare that the date rl:, ¡¡ WESTCHESTER SLJRPLUS LINES INSURANCE COMPANY
breached the contract was on or about January 5, 2010, when WESTCHESTER SURPLUS
LINES INSURANCE COMPANY, for all intents and purposes, STATE FARM formally refrrsed
to name its appraiser (see E:<hibit "?).

SZ. CLL;B VILLAGES, LLC, as assignee of GOLD COAST REALTY INVESTORS,
LLC, also requests this Court to declare that the date that the stah¡te of limitations begins to run
is rhe date that WESTCHESTER SURPLUS LINES INSURA]rICE COMPANY breached the
insurance contac! January 5,2010.
53. Further, CLUB VILLAGES, LLC, as assignee of GOLD COAST REALTY
INVESTORS, LLC request this Court to enter an order staying CLUB VILLACBS, LLC, as
assig¡ree of GOLD COAST REALTY INVESTORS, LLC Petition to Compel Appraisal, Select
Umpirg and Complaint for Breach of Contuact until such time as the parties can complete the
appraisal process, in a timely fashion, and potentially resolve the claim,
INVESTORS, LLC requests this Court to enter an orde¡ requiring WESTCHESTER SURPLUS
LINES INSURAI.{CE COMPANY to immediately begin the appraisal process.
INVESTORS, LLC requests this Court to enter an order stating that due to the nature of the
impending potential statute of limitations date, the Petitioner is not in violation of any alleged
post loss obligation(s); i.e. failing to provide any requested information/documentation to
Respondent and/or failing to submit to an examination r¡nder oath.
WHEREFORE, PtaintìË CLUB VILLACES, LLC, as assignee of GOLD COAST

REALTY IN\|ESTORS, LLC, respectfrrlly request this Court declare:
l. That the date IVESTCHESTER SURPLUS LINES INSURANCE COMPANY
breached the insurance contract is the date it failed to name its appraiser and irnmediately
proceed with tl¡e appraisal prccess; that being January 5, 2010;
2. That the five year statute of limitations for breach of an insurance contract begins
to run on January 5, 2010;
3, That CLUB VILLAGES, LLC, as assignee of GOLD COAST REALTY
INVESTORS, LLC Petition to Compel Appraisal, Select Umpire, and Complaint for Breach of
Conüact is timely filed, but is sayed pending the outcome of the appraisal process;
4. That Respondent is required to immediately proceed with the appraisal process
rurder the policy of the entire loss; and not simply portions thereof;
5 That CLIJB VILLAGES, LLC, as assígnee of GoLD COAST REALTY
INVESTORS, LLC Petition to Compel Appraisal, Select Umpire, and Complaint for Breach
of
Contrac! was not filed in violation of the subject insurance policy's post loss obligation(s)
conditions.
6. Thar the Court reserves, for its determination, the issues of Petitioner's
entitlement to and the asrount of attomey's fees, costs and prejudgment interest;
7. Thar cLLiB VILLAGES, LLC, as assignee of GoLD COAST REALTY
INVESTORS, LLC is not in violatíon of any post loss obligation(s); and
WHEREFORE, Petitioner respectfi:lly requests judgment as set forth herein from
Respondent, including attorney's fees, costs, and prejudgment interest. Petitioner further
demands a trial by jury on all issues so tiable and such other relief as this Cor¡rt decms just and
propef.
Respectfrrlly submitted ,nt i I - day of October,2010'
Florida Ba¡Nò: 061735

?77 South Harbour Island Boulevard
Suite 950
Tanpa, FL 33602
Tolephone: (81 3) 229-1000
Facsimile: (813)229'3692
Attomey for Plaintiff
Com it tørciat Prop erty Ð ecla ibii ons Eq-

Company: Westchester Surplus Lines lnsurance Company
wllh Companv fl See attached $qhq!!q!e Ceg?
¡t Described l4aüorr Apdles Only For Coverages F.grW¡lgh A U,gl!Ol Uablllty.J-s Sttot,n
Goverages ¡rsuranco
and
Llmits
Provlded
gf 0,000. per oúTurenceãxcept 5Yo of total insurable values forWlndstorm/Hall. (Soe soparato
ú S"" Multiple Deduc¡bte Form 0 Soe Windstorm or Hail % Deduclible Form

E See Hunlcane % Daductiblo
Forms
lnformation
Form CPd2 (6/02)

Page 1 of 1
a)l tót
Page I of4
McGoy, Chris
Frot¡ti dweloh.merld0S@lnsutetnafl'nat
sent: FrldsY, January 06,2006 4:09 PM
To¡ McCoY. Chris
Cc: ' blake@qlnsu¡€nce.net
Subject: Gotd Goast Realty lhvoslors' Olaim CAT 64019023
sepratc
Chris: attaohcd ie the lirst of buildíngs aud their associatetl value. À list of rents will follow in a
'Would you sec if ibís i¡fonñatioú is clear, and estimats a date tho iusr¡red could expect a claim
e-mail.
payrrent, Becaúsc tho cmergency çtqryses uc in ¡he ernergency phasg wllcn can wa hope to get an
ädvanc" or ¿ check for this. Please advisq ¿¡d ¡ent info follows.
'Vi¡hat
Thanks for your hoþ. is Zota doing? Best ragards, Denise Welch
LOCATION SCHEDULE
Gold Goast Realty Building llst, location.and values.
PREMISE BUILDING ADDRESS

NUMBER NUiJ[BER
001 001 f 599 NW 13 St., Boca Raton, FL 33486
001 002 1575 NW 13 $1., Boca Raton, FL 33486
001 003 4€ÉS NW 1A SL, Boca Raton, FL 33486

1 557
001 004 1625 NW 13 St., Boca Raton, FL 33486
001 005 1851 NW 13 St., Bocô Raton, FL 03486

Page 2 of4
-ló3l+vl:¿6v5--:l:¿-i-3|¿-l-o4t.lzb|b3l-L¡.t9gÈ-|:lã|.\.lJ
001 007 1701 NW13SL,BocaRaton,FL33466
001 008 1601 NW 13 Sl, Boæ Raton, F133486
l lt<t1rô,^â,
!J. ¡9. ¿vvJ ¿4r W-
PROPERTY & ININDSTARM COVERAGE

lnsured: Gold Coast RealtY lnvestors, LLC
lnsurance Canie¡: Ace lnsurance Cornpany, A.M. Best Rated þ+ X/) Non.Admitted
PolicyTerm: 0s/2sl200 5 To 08/25/200ô
CAUSE OFf,OSS FORM U$EÐ;
Speclal Form: Provides côverage against All Risk of dlrect physicalloss or damage, except
those perils that are specificãlly excluded in the policy.
,i.f,í¡YAri'ffåi*:ËscyPn..¡, you.ry a:Þa!!ÈJE VALUAfTON

-.FÉ{[li]-
OOf OO1 BUILDING $60s,318 100% $5,000 RCV
001 001 coNTENfS $120,000 100ù/0 $s.000 ACV
001 001 BI/EE $108,000 l/Ê MoNTHLY
W i'äf¿,- o.sc''Pt'o'', Attou r Fgtlifr- p-EpucnBLE UA,LUANÔN
001 a02 BUILDING $830,845 100% $5,000 ROV
001 002 coN'rENTs $120,000 10070, $5,000 AQV
001 002 BI/EE $108,000 1/0 MONÍHLY ,"
gÊsoftFlr?{ AitouNr Fgf#^f DEoucrB¿E .-' VALUAÏION

'ffie,i,trfar.
OO1 OO3 BUILDING $561.566 100o/o $5'000 ¿ RCV
001 003 CoNTENTS $120,000 looo/o $5,000 AGV
001 003 BuEE $108,000 1/6 MoNTHLY
i,//offq.ryåïåu* ?esc'rlj.ol 4yoylr ?ii:!#

Dgqucrj?,.e- UALUAI'ON
001 OO4 BUILDING

-
$044,235 100Y" $S,000 RCV
001 OO4 CONTENTS $120,000 1007o $5,000 ACV
001 OO4 BUEE $108,000 li6 MoNTHLY
Agvrl- vg-grro¡'
'f' ,ä üirh oEscR'P'toN
-. -,..
ËE#Lt-i*- DED-¡ITBLE-
-.
OOI OO5 BUILDING $595,212 10oo/o' $5,000 RCV
001 005 0oNTENTS $120,000 100o/o $5,000 ACV
tl6t2.0î6
OO1 OO5 BUEE $108,000 1/6 MONTHLY
DEoÜortBLÉ- v+uunor
,i,ä{¿, ,f,iflfe, grlc-gPlo.L. " - ^Mount ¡3ö}þ-
OO1 006 BUILDING $594,ô34 100% $5.000 RCV
001 . 006 CoNTENTS $120,000 100% $5'000 ACV
001 006 BI/EE $108,000 1/6 MONTHLY

,|,ffi!¿. DÉEcR,pno¡, Altounr Fggrä* aEDt)cnaLE vALuAnoN
^ftliie^
001 aoz BulLDlNo $888,887 ß0% $6.000 RCV
00r aol ooNIENTS $120,000 1000/" $õ,000 ACV
001 0a7 BUEE $108,000 1/6 MONTHLY
,i,iffi* nitå-.r ?E:oRjPrIo{ ÃryNt FgËåt'Ë-

o?:YBn - vALUIYN-
OOI OO8 BUILDING - $139,303 1oo% $5,ooo RCV
001 008 CoNTENTS $30,000 100% $5,000 ACV
Total I nsured values: S6f€s$€0-6/b $6, 576,000
* Namod Hunicano Deductible 5%; Atl OtherWind an<l Hail Deductrble 5%
Datc: 8f22/05
Policy Declarations Eq_
IHSUNTD & MAILING ADDRESS
Fred DsFalco
NW Boca Raton Blvd.fÊ200
, - oel2ÃmAS 12ú1 A. M. Stendard Tlme At Named lnsurede Address
troduceis Name & Address:

NSURING GOMPA}JY
]ISYS GOMIj|ERCIAL INõURANCE
¡ROKERAGE
Westchester SurPlus Llnes I99WAIERSTREET
ISTH FLOOR
lnsurance ComPanY 'IEWYORK.
NY10038
rroducer No: 419SlW
INSURED 8Y SURPLUS LINES

j1 f.ì{:;r'- r .ï :iii! DO NOT HAVE THE PROTEiTION
ïr::îìi cli' FLORIDA INSURANCE G UARANTY
tiì
t ! iil tÌ: ¡i::.
li':::'-:it/T:U.:"
ACTTOTHE ÐffENTOFANY R¡GHT OF
FOR THE OBLIGATION OF A¡.I
INSOLVENT UNL¡CENSED INSURER.
ATTACHED FORMS
SLPO (4/03)
ACTI¡SA
Common Polícy D ecløratìons
Company Namo: IVcstch€súer Surplus Ltnes fnsnr¡nce Company
@
SYM: FS Poliry ID; I)36054335 001
Nsrncd In$ncd & lvfailing Ad<kess Prodocet's Name & Address
GoId Co¡st Resltt¡

Attu XÏed.DeFrlco BROKARAGE
3299Nfï R¡to¡ Btvd.
Boca #200 l99WAIERSTNAET
BocrReton ELft431 2mtrr:LooR
¡mfsYoaK Nv10038
41g$rr-NE\V
General Policy Polioylcriod: fl months

lnformation Busi¡essDcscription: ApartmentCompler
Wbcn Coverale Bogins: A8n4f2g05 12¡014.M. Sandard Timo atNamedl¡uured's Address
TVhcnr Covtrage Ends: 08n412øO6 t2:01 å,.1v[. Standard Timo atNar¡ed Insrued's Ad&ess
Il retnn for lbe payment of the premluq ard subJect to all the terms 9f lhls pollc¡ rve
ryree wlth you to provlde the l¡suranco as st¡ted ln thls pollcy.
The promium for thís polioy ís indícatcd bclow next to thû aþplicable Covcrage Porm(s).
Coverage Fgrm P¡eníwn
Comnerciel Pron erty Caverage Part 3 68"599.00

$
$
s
$
s
s
$
$
TotalPremium: $ ,, .-68.588.00
Minimrun F¿med.hcrnium:.. $ ._ _.,:1,7.1¿7.09.......
Attached Forms SeeForms Schedule trfs2

lnformatlon
Autho.rlzation Counhroigned At:

lnformatÍon
Date:
AuthorizedAgent:
Thesc Declaralions together rulth the Coverzge Dcclaralfons, Comnon Pollqr Condttlons ¡nd
Covcr:rge Çondlllons (if applicablc). Çolcrngc l'orm(sl antl Fornts :rnd Er¡tlorsclr¡cnls. ll¡n.r'. issr¡cd
¡!r I',r't¡t :r p:¡rt lhere¡¡l'. rrrrtt¡rlt.tr lltr. rlrrrrc ttrr¡trJrlr,.'l lt,'lir¡.
Forms Schedule
Westchester Surplus Lines lnSurance Gompany
Company:
sYM: FS Pollcy lÐ: D3605¿LIÌ5 001
When Coverage Begìns: 0a2412005 12¡01 lt il. Slandad Û¡eÂt Na¡red l¡rsu¡ed's Address
PolÍcy Period
When Coverage Ends: 08i2412006 l2lol A" M. Stsndard Tkne Al l,lamed lnsuæds Addross
all Coverage BB.5W5sa (f 2195) - Gornmon Poli{ffi

ItfA-808255 (09/04) - ACE Property & Gasualty Clalms Dlrectory
Parts
Gommercial . Fprm No. and-Qe.Sg;tlPïon

CPdz (061021 - Gommerclal Proporty Declarations
Property
CPeed2 (06f04) - Earlhquaka Endorsemont Declarallons
cPlÊd2 (06t04) - Flood Endorsemont Declarations
CP 00 90 (07/88) - Comrnerclal Propsrty Cóndltlons
cP 00 10 P4fo2, - Bultdlng and Personal Property Coverage-Form
CP 00 32 (oeroz¡ - Business lncome (Wlthout Exfa Expense) Coverage Form
CP {0 30 (04102) - Gauses of Loss - Speclal Form
cP t0 45 f08r99) - Ealhquake and Volcanlc Eruptfon Endorssment (Sub-LÍmft Form)
CP l0 65 (f 0100) - Flood govsrage Endorsement
ACE083 (05t05) - Occurrence Llmlt of Llability Endorsement
ACÉ061 $AOq -Asbestos Materlal Endorsement
ACE0206 (07//02r - Deflnltion of Occurrencs
BB-10320 (0{101} - Servtce of Sult Endorsement
{02/03} - Nuclear, chemlcal end Biotoglcal Exctuslon Endorsement
AtL-f
^cEozlo0750 (t 0/01 ) - Terro rlsn¡ E¡tcluslon Endorse¡nent
TRlAlS (0f/æ) - PollcyholderDlsclosure Notice of Terror'lsm Insurance Goverage
CC-3R19 Prßn - ACE (A) - llrlortgasee
¡L 02 55 çOttOZ¡ - Florid¡ Changes 'Gancellatlon and Nonrenewa!
lL 00 t7 (1ft98) - Gommon Policy Gortdltlons
LO-5S23g (02105) - Slgnature Endorsement
UA' LO' ¿OUJ L¿. JL
ffi¡¡¡psron/l/ cova1-g.
lnsured: Gold Coast RealtY lnvestors, LLC
lnsurancg Canien AcelnsumnceCompany,A.M.BestRated(A+)C/)Non-Admltted
PolícyTerm: osl 25 t 2005 To 08/25/2006
Speclal Form: provldgs coverage against All Risk of dlrect physicallqes. or damage, exoept
those perifs that are speciflcally excluded in the policy'
PREM, ALþG,
.. t3ffËü-
OESCR,FNON ÞEDUçnaL?-_. UALUANON
r\¿.r4tgER NUMEER- fngyqr.,
001 001 EUILDING $€05,918 1000/o $5,000 RCV
001 001 CONTENTS '$tzo,ooo 'loo% $5,ooo ACV
001 001 BUEE $108,000 1/6 MONTHLY
PflëßN.
,VUÀ,BEñ
BLþG.
NUTIBÉ,R
DESCR¡IPNON yuyl.-- Ë&Ë - oEDuênBLE v'lu*nolt
001 002 BUILDING $830,845 1oO% $5,ooo Rcv
001 002 GONTEÌ{TS $120,000 1oo%. $5,000 Acv
001 002 BUEE $108,000 1/6 MoNrHLf ,a
í,i.Té" .Tlff¿, Dis-oR'Pï9N f¡,toul{t ËüY^* wD:r!nBLl-;"- -vALyAnoN ,.

OOl OO3 BUILDING $561,s66 100% $5,000 , RCV
001 003 CONTEÍ\ffS $120,000 100o¿ $5,000 ACV
001 003 BuEE $10Ê,ooo 116 MONTHLY
DãZTJIå¿'.-- UALUAflAN
,[,ffi{+ r1"if* TslT'P7'o/\: !!a:!r - -.;.ÊäX-:fr.
OO1 OO4 BUILDING $644,235 1000/o $s,000 RCV
ACV
001 004 0oNTENTS $120,000 10070 $5,000
OOl OO4 BUEE $108,000 1/6 MONTHLY
oEscR'F'oÀ' AW,uNr. iHätF" DEDu.cnsLE uALuÃnoN

í,ßrÉtryurjËs
$595.212 10070' RCV
001 OO5 BUILDING $5.000
$120,000 100a/o $5'000 ACV

001 OO5 CONTENTS
tJ6t2006
ayl8l2øa! '12:32
001 005 BI/EE $108,000 . f/6 MONTHLY

t?iÊm
,lW-'fffi* ÞËsc'w!
^t¿ounr
DÉotJarqt Ê vÁruAllorÙ
OO1 006 BUILDING $694,634 100% $5.000 RCV
001 006 CoNTENTS $120,000 100oio S0,000 ACV
001 006 Bl/ËE $108,000 1/6 MoNTHLY
,itr{*,f,H"?, D'ic''pïtoJ¡r ryY - *#lYt* ?E,uort*t{. . .ufl.vAnor -

001 OO7 BUILDING $888,887 lo0% s5.000 RCV
00r OO7 CONTENTS $120,000 100% $5,000 ACV
001 OO7 BUEE $1o8,ooo 'tr6 MoNTHLY
ffi. r?;fPfu. DËsgR'Pr'?¡, AnounÍ 3i#!î; DEDUcnsLE 'uAurtno'

OOl OO8 BUILD¡NG $139,303 100% $5,000 RGV
001 008 GoNTENTS $30,000 1000/o $5,000 ACV
Total tnsured Values: $er4€e0o0-'slb $6,õ76,0þ0

* Narned Hunicane Deductible 5%;AtlOtherWind and Hall Deduct¡ble 5%
Date: 8122105
øyl ló12w5 l¿,71 ta\JrzoQrl
Page I of4
McCoy, Chris
From: dweloh.rnerid0S@¡nsuremalf.net
Sent: Frldsy. January 06, 2006 4:09 PM
To: McCoY,Chds
Gc: blake@qinsurance,net
Subjec0 Gold Coaet Realty lnvestors, Claim CAT 54019023
Chris: attached is the list of buildiugs aud theb assqtiâted value. A list of rmts will follow in a sqparate
c-mail, \Mould you sec if tbis information is clear, and estimato a datetl¡c i¡sured could expoct a claim
paynent. Becausc tho emergency crçet¡ses are i¡ the emergency phase, when canw€ hopo to get ut
advance ot achcck for this, Please advisq and rent ìnfo follows.
'What
Thanks for your hcþ. is Zcta doing? Besttegards, Denise Welcb.
LOCATION SCHEDULE
Gold Goast Realty Buildlng líst, location and values.
PREMISE BUILDING ADDRESS.

NUMBER NUIIIIBER
001 001 1599 NW 10 St, Booa Raton, FL 33466
001 OO2 1575 NW 13 St., Boca Raton, FL 33486
001 003 ... {€F+ NW 13 St., Boca Raton, FL 33488

1557
001 005 1651 tW 13 St., Boca Raton, FL 93486
001 006 1675 NW 13 SL, Boca Raton, FL 33486

UJI LUt LúUJ L1. ¿-
Page 2 of4
001 007 1701 NW 13 St., BocaRaton. FL33486
001 0OB 1601 NW 13 Et., Boça Raton, FL 33486
I lt<|1r},^r.
D e cl a r*ii o n s
Com ù íerc¡al P ro p erty BA.
Company: Westchester Surplus Lines lnsuranCe Gompany
svn¡j rs Policy lD: D36054335 0ol
Schedule on flle Ud{.h
i*utan"" À Oescdbed locatlon np-Olo Ody r"r Covorases Foj[hlglt A

{mil
Govemges
and
Llmits
Provlded
$10,000. psroccur¡enc" o*pt S* of tolal insurable vatues forWhdstorn/$X. (Sea separate
Special n S"" ¡vlãnøs Deduclble form E SeeWìndstorm orHall % DeductibteFo¡¡n
Deductible Ei S"e Hurricane 7o Deducliblo
Provisions
Goverage
Options:
lnformatlon
Form CPdZ16lD2l
Page 1 of 1
Policy Declarations ET-
MAILING ADDRE$S
NW Boca Raton Blvd. f200
l2$l A. M. Standard TIme At Named tnsu¡ede MdÞss
G¡ rpñc c.rtr¿p¡uv )roducet's Name & Address:

tlsyscomm ERcfAt- lNs uRAt'lcE
IROKERÂGE
Westchester $urPlus Lines IggWATERSTREËT
IETH FLOOR
lnsurance GomPanY {EWYORK NYIOOss
troducerNo: 41953W
INSURED BYSURPLUS LINES

(:::¡.'tü DO NOT HAVETHE PROTECTION
Tr::.q !Î
FLORTDA INSURANCE GUARANTY
/ !:ir;}l liii Gi'.
ACT TOTHE EXTENTOFAT.IY RIGHT OF
ll:'i'-:iì,(:$i:'
FORTHE OBLIGATION OF Al'l
INSOLVENT UNLICENSED ¡NSURER.
ATTACHED FORMS
SLPD (4/03)
ÄcEusÄ.
C ornm ou P olìcY D ecl,arøtíons

Conpany Namc: WestcLesúer Surplus Llaes Insura¡ce Company
SYM: FS Policy ID: D36054335 001
Namcd Insu¡eil & lvfailing Addrcss P¡oducer's Name & Address
coi*co
Attn: Iteit.De¡alôo BROIffi.R.AGE
3299 $NV Boca R¡to¡ Blvd. #200 f99WAÎER SIREEtr
Boc¡R¡to¡ trL33431 I&THFLOOR
NEWYOBK NlrlOG}8
41953'W-NEW
General Policy PolíryPeriod: 12 months

lnformation BusinessDescriptíoa: AparrmentCompler
'WlecrCoverageBcgiru: A8n4nf05 12:01 A.M. St¿nda¡dTímeatNarnedlnsured's Àddress
'rühe,aCovcrageEnds: 0A2ü2006 12:01 Â.lW Standard Tims etNamed Insr¡red's Ad&esg
I¡ turn for the pqymcnt of the premtün, and subject 1o all tbe terms pf tbls pollcy,
re rve
agree rvtth you to provide the lnsura¡ce as st¡ted ln tbis pollcy'
The prcmium for this poticy is indicatcd belowncxt to thc applicablc CoverageForm(s).
CoverageFgrm Prentwtt
ComJmjrcíll4ongTtvCovelasePaf-. --.- ----, $ ___ 6gp8{.oo

$
$
$
$
$
$-
$
'fotalPremluml $ _. . j9rs88.9.0.
Minim¡m Esmedlrsmium:- ... $ - i*.r-17,1,i7.00."
Attached Forms SeeForms Schedule C?ß2

lnfor¡nation
Autho.rlzation Countersiped At:

lnformation
Date:
AuthodzcdAgent:
These Dect¡r¡tions together tvith thc Cover¡ge l)cctoretions, Common Poù'cy Coudltions and
Cor.crnge Conrlillons (if applleahle¡. Covcragc tbrn{s) and Fornts ¡u¡d Ertdorscltrt'nlt. if lnv. itsncrl
"' l.¡rr,r:r ¡r:rr'l llterclrl" rûllllll¡'¡t'tltt':rlrttrr trttltrlrr:"rl ltr¡li¡'r'
t..
Eañh qu ake En dorsement D ecla rafions
Company: Westchester Surqlus Lines lnsurance Gompany

sVl¡, ÉS PolicY lD: D36054335 Ooi
____rHE_F€È¡Su,NescHEDr¡rE-pRCIytnF$.T IÞPLEMENIARY lIrFg,R+!4I¡-9=N T.oJ5=l{¡Sgwlrl{ TllE ...

eanrrtouexr AND VOLGANIC ERUPT¡ON ENDORSEMENT (SUB-LIMIT FORM)
CovertO Locations for Earthguake and Volcanlc Eruption are the same as the Covered
Localions shown in the Commercial Proporly Declarat¡ons, subject to thefollowing
@ covered for Earthquake and Volcanic
the samo as
CovuiJA property and Coverages for Earthquake and Volcanic-E¡¡ption are
rfré-C"Jà*UþroÉ"rty and Covenges shown in the Commercial P.ronerty-!e9la3!l,ons,
to the lefins óf tne earttrquake arrd Volcanic Eruptlon Endo¡sementand the
"uo¡ãA
Llrnlts of Occurrence & Annual Aggregate Llmits ;

Earthguake and Volcanlc Eruptlon Umlts of lnsurance areAnnual AggregSte
lnsurance Llmlt-s.-
õ-;ËäËU,"¡iOf tntur** Prövisions ln the Earlhguake andVotcanlc Eruptlon Endorsement')

lnformallon
The
- Earfhquake and Votcantc Eruptton llmlÇ lndlcated ln o--ptlon Aor B below, ls
whlch applfe¡ to othor Qo, vered
iiã* òt áriC ¡ncluded ln the Umlt ofoftnsurance
$nec!a! Forry.- fnq e$¡quake and
i.uu"" of Loss under
- -Volcanic
the Causes Loss-
Eruptlon ltmit Is not a separate or addltlonal Llmlt of lnsurance.
EIõpUon À -Full Llmlt

F"ü;ãil" ãnd volcanio Eruplon lscoveredfor lhe ymlLimtt of l¡sy111g:FTLllll"
öffi![iá Èlãp"rrv óJ"làritonr wlrfch applies to other Coræred Causes of Loss under
::
of Lðss. Spedal Form, subJect to the follorlng exceplions: ,' .
'
rf,ä õá*"s
Optlon A or B
applies (as
lndlcated bY an X)
$5,flOO,O00 por ooeÐrenoo and annual

aggregate
Locallons, Corer-ed fropqrtY or Coiorages

Thls Llmlt does not apply separatel/ to lhe Prômises,
tüie¿ iil, trre most wå wn pay br ät nss or damage to the tndicsted co¡ered Property/Gorerages
äi t¡ä Ëì"r¡r"" and Locaüónõ [sted, subject lo all other
applicable polhy provlslons.
Form CPeed2 (6/04)

Page 1 ofZ
Earthquake Endorsement Declaratlons
Deductibla The Deductible provislons apply to each

One of ll¡efrllodng
optlono wlll applY as
no enlry appærs,
Deducübbdptun In propsrty at each bullding and personal properly in the open.
tho@mmerdd
Property Dedaraüone
app[es to Earüquako'
[l Fxed Dollar Deductible (The followlng paragraphs lnfonn CP 1045 do notapply:
G.2.a.(2), G.2.a.(4), G.2.b.,G.Z.c., G.2-d. e H'
The deductible Amount ls $50.000 pôr occrrrrencâ
Appllcable to Sprinkler Leakage only: No
"lnoluding Masonry Veneef Option:
lncråased Annuat Aggregate Limlt Option:
Form CPeed2 (6/04)

Paga ?. of 2
Flood Endorsement Decl arations @

Company: Westchester $urqlug Lines lnsurance Gompany
SYM: Fs PollcY lD: D36054335 001
PROV¡DES SUPPLEMENTARY INFORMANONTO BE USEDWTH THE
ffithe iame as the covcred Locations shown In the commerclal
D
t tto Ftood coverage ls nrovt{9! underthis endorsementfor Locations lgcale4YltltiE
fi! llffã*mõ NF¡p Zänesi4 nr through A3O, AE, AH, Ao, AR, 499' V' V1 through V-30
ANDVE
ffiand Coverages forFlood_are.the same aslhE.Cove¡ed Proporly and

ñö;;ñã"ítln Commgrðia1e¡ooprtf oecqr,llo¡s, sublectto theterms of the Flood
Occunence & Annual

lnsurance ffi Ag gregate Umlts. {Refar to the Llm lt- Of ln¡urance
lnformation Þrñ¡"¡ons ln tho Flood Goverige Endorss¡nentforan explanatlonf
part of and lncluded ln the limlt of
The Flood ltmiÇ lndlcated ln optlon,A or B below, rs
¡üi,i,.-r,*rtr¡ätr appl¡es to oiherGovered Gauses of Loss underthe Gauses of Loss'
""$;ht ñ;m. ihe Flood ltmtt ls not a separate or addltlonal Llmlt of lnsurance.
u{Ùx¡ruonr r ar¡y' l|l ¡¡e euverolre,Forn

applicable Gorærage e¡, applies)
l-l ootlon A. -Full um¡t @
(@insuranca .rr.t.tPlrrAr¿e¡u
ffiöË-;;re¿ ior tns same Llmit of lnsuance shou4 þ the Cornmercial Propefi
Causes of !oss-
bãã".tr"r,Jurnrcn apffàs to ottrer covered Gauses of Loss under he
spt.¡tl Form, subject to thofollo¡ving excepüons:
Optì,on A or B
'applies (as -'--
indkaled bY itto co"insurance optíon applíes)
an X)
aggregate
$2,000,000 peroccurenæ and annuaf
Coverages llsted'
not appty separaldy !o the Premlses, Loca[ons, Govergd^Propgrlyôr
'¡" Umil does
Thís
Covered Properly/Coverages at he
í u* m*t *" u¡¡¡ ôäi forill losíof damage lhe to lndicated
pollcy provlslons'
;;t*rËe" à'rd Locatli¡nð ltsted, subJect to all ottrer apptlcabte
Form CPfed2 (6/04)

Page 1 of 2
Flood Endorsement ÐeclaratÍo ns
The follorrring Deducdble wlll apply to all coverages unless a separate deductible ls
shown below for Business lncome:
(lf rce¡rVyappe*s. ltP

Dedt¡cÍt¡lo shov¡n ln Ûte me OeãucUU¡e ¡nrount ls $250,000 per Building, Flood excess of available NFIP wltether
Corn¡usclat PttæÛ
Dedarallone ap$er b purchases or not $2õ0,000 per Building, Personal Property Flood excess of available
sood.) NFIP whether Purdtased or not.
Thls Deductibþ wlllapply separateþ to each'Occurence.
lf the above deductlble is a percentage, it is of the total lnsunable value

at all Govered Locatlons involved ln the loss; as of lhe date of Loss.
Business The follou¡ins deduclible will apply separately to Buslness lncome-

lncome Flood
Deductible
respãaf ne--ecoverageprovldedunderthis'endorsement'ths
appllcabie to physicaldamage to property shall also apply to Business lnoome and Extra
expense.
li the Dedudibþ ls stated as a percentage arnount, lt wlll lnclude tho appllcable
percenfage of the insured values for Business lncorne and Extra Expense at all localions
Special 72 hour waiting period in Sectlon D.5.a- does not apply'

P¡ovìslons
(appllcablo lf Underlylng NFIP lnsuranco WaiverApplles to tocations: NONE
hdlcated by an X)
means: (a) each

(b) yeur bushoss persoq4 propôP or-propeÉ¡i of others In each bull¡llng or struc{tre;
"mAure;
or (c) propeÉy h tho opan at each Covered Locallon.
Form CPfed2 {6/04)

Paoe ?, of 2
Forms Schedule .;
Westchester Surp-lqg Lines lnsurance Gompany
company:
SYM: FS PolicY lD: D36054335 001
TffiFãñãã- when Goverase Beslns: o8t24t2oo5 À M, Slgìda¡d TLnsAl Named lnsu¡ed'sAdd¡ess

12:01
'
1201 À Slendsrd 'Ilno Al Named lnturcds A¡ldross
When Corerags Ênds: aA24l2A06 M,
(12195) - Gommon Pol¡Ey Dêclanil¡o-Rs

ria-¡t¡lsga
all Goverage MA-60s2õ5i09r0¿) - AcE Property & Gasualty Clalms Directory
Parts
Gommerclal Form No-. and Descrlollon

cFãEõ6i0tt - commerclal Propeily Declarallons
PropertY GPeedìz (0d04) - Earthquake Endorsemont Declaratlons
CÊ{led2 fôalo¿i - fbod Endorse¡nent Declaratlons
cP o0 9ò (o7rliS) - Go¡nmertl¡l Property Gondlllons
õÞ oo ro þAozi - Bulldlng and Personal Prqpirty Coverage-F-orm
ðÞ OO gZ tO¡nZl .Busineis lncome (Wlthout Extra Þ<pense) Côverage Form
cP 10 30 (OryOz) - Gausos of Loss - Speclal Form
õÞ iO ¿S iOAmí. Eañhquake and Volcanlc Erupllon Endorsemsnt (Sub-Llmlt Form)
CP 10 55 (f 0rÛ0) 'Flood Coverage Endorse-ment
ÃceoO¡ (osþq -g6.urronco Llmlt of L¡abllþ Endorsement
AcE061 (OZo¿i - A¡bestos l$aterlal Endorsement
ACE0206 (07102) - Detlnltlon of oscurrenoo
BB-10320 (0¡{rc1) . Servlce of Sult Endorsement
¡ceozro (ìøosi. t¡uctear, Ghemtcal rnd Biologlcal E:rcluslon Endorsement
AtL'10750 (f 0r0O' Terrorlsm E¡rclusion Endorsement
TRlAl6 {gfrbg) - potlq'holdar Dlsclosure Notlce of lerror.lsm Insurance Goveraga
CCJRI9 (07þn -ACE(A) -Mortgagee
s¡ lOttOz¡'-nor¡dã changee - Gancellallon and Nonrenewal
¡r- Oz
lL 0017 if rn8i - common Pollcy oondlttons
LD!5Sæô (02/05) - Slgnaturo Endorcemont
ACE
Properfy & Casuaþ Claims Directory
Claim Offce Locatíon PrimarSr Fax Numbers
ACE'\l/estcbester P.O.Box 100008 Pax: 678.?95.4095

Specialty &oup Roswell, GA 30077 888.763.7999
Bachup Fax:
678.795.4081
888.982.2f33
F¡ge I of I
Ftyrì \l.i.r,t'q:S.î llf I fiJ ¡
rL P 001 01 04
U.S. TREASURY DEPARTMENT'S OFFICE OF FOREIGN

ASSETS GONTROL (.'OFAC')
NOTICE TO POLICYHOLDERS
ÂDVISORY
any pmvbions of your pol:
No coverage ís provlded by !!¡s Policyholder Nolice nor can it be conshleA þ. rynþo
page tur complete informalion on lhe covenages )ou
i;iv;ù íru¿ your óot¡cy and räüaw your Declaratlons
"f";iã
are provided.
your'lnsurance ôoverags due to dlrecllvss lssued
This Nogce provldes lnfuimation cpr¡cemlng possible impact on
úV Of¡C. Pieaso ¡s¡d lhls Notlce carefully'
enforces sancllons pollcy, based on Presld6nllal
The o,ffice of Forelgn Asssts contml(oF^ç) admlnisters and
åi.naUäna¡ emorgenq/. OFaC has tdentilied and listod numerous:
åäã¡"iáíf"is
. Forelgnagents;
a Front orgpnizatlons; '
o Terrorlsts;
o Tenorlst orgar¡lzations; and
o Nafcotlcs kafflckors:
ca4 be localed m lhe Unlted States Treasury's
as ,soeclally Deslgnated Nallonals and Blocked Persons'. Thls ll"t
web Jite - tritp/¡\¡,r¡r. þeas.gov/ofac.
lhal.¡ou or any.other insured, or any.person- or enlity
ln acc¡rdance with OFAG regulations,-if it ls detarminedsanc{óns hw oi ls a specially Desþnated Nallonal and
å,"frñóìËîuñdùror iñ¡iiñ.ùr"n."'hast¡¡r vrotated u.s.
person, as loenuñ'ö uyõrÁc, lnsufance wir bs cpnsÍdered a ¡locrsd or fiozen conlract and all
Blocked
;;;ffiË;iù.,ri ¡n*rrunä'ãJúnm"aãíety subleot to oF{c. whon an i¡æurance polloy ls considered to bo such
a btocked or frozon conii""ilrio payments'nor iremlum rofunds rnay be mads wilhoul authorlzalion tom oFAC.
ôrrrãiiiñtatloß on thepremiumi año pavments also apply'
@ ISO ProPortios, lnc., 2004 PaEe I of 1

tL P 00t 01 04
'9*"
Questions About Your lnsurance?
Anslrers to quesfiono about your lnsuranae, drveøge lnformatlon, or assistar¡oe ln resoMng

*mpf"¡nt" ¡e obtained by callhrg ACE USA, Custonrer Support
cän Servûoe Dopartnent at
l-800€52-4462.
(r1/s6lPüt h u-s-A.
^t!.6)ø0
JMMERCIAL PROPERTY
GOMMERGIAL PROPERTY GONDITIONS

Thts Coverace part h subject to the following condltlons, lhe Common Pollcy Conditions and appllcable Loss
Cãn¿¡t¡ons añd Ældl$onal Côndlt¡ons in GommercialProperty Coveraga Forms.
GoNGEALMENT, !¡¡SREPRESENTATIoN OR F. NO BENEFIrTO BAILEE
Thls Coverage Part is vold ln any case 9f fau! by custody of Covered ProperlY will from lhls
vtxr as it relàtss to fhfs Coverage Psrt at any limo' insurance.
it ¡s also void if you or any othor lnsurêd, at any G. OTHERINSURANCE
tlnre, lntentionallyconceal or mlsrepresonl a mate-
rial facl concemíng:
l. You may have other fnsurance subJect to lho
samô plan. terms, condilions ônd provlsions as
l. Thls Coverage Parl; lhe lnsuranco under thls Covarago Pert. lf you
2. The Covgred ProperlY; do. wo will pay our share of lhe covered loçs or
damago. Our share b lhe poporllon lhat the
3, Your.lnterest ln tha Covered Propert¡r¡ or appllcable Ll¡r¡it of lnsuranca under thls CoveÊ
4, A clalm under this Coverage Part age Psrl besrs lo the Llmlls of lnsuranco of all
B. CONTROLOFPROPERIY lnsuranco coverlng on the sams bas¡s-
Anv acl or neqloct of any person other than you 2. lf lhere ls othar'tnsurance coverlng the same
beyond your dl-reclion or conlrol will not affect lhls loss or damage, other lhan lhat'descdbed ln 1.
above, wa wlll pay only for the srnount of cov-
lnsurance.
ered loss or damage ln excess of lhe amount
The breach of any conditlrrn of lhls Coverage Part dr¡e from lhat olher lnsurance, whelher you can
ai añv onô or mciie locauons wlll not affect cover- collsc-t on lt or not- But uro wtll not pay mofe
age át any locatlon where, at lha llma.of loss or lhan the appllcable Llmlt of lnsurance.
dãmage. the breach of condítion does not axisl
H. POLICY PERIOD, COVËRAoE TERRTTORY
c. rNsuRANcE UNDER TVUO OR MORE GOVER'
AGES Under th¡s Coverage Parh
lf two or more of lhfs poliq/s covsfages apply to l.We cover loss or damage commenchg;
lhe sama bss or damage, we will not pay mora a. Duhg lhe policy perlod shourn in lho
lhan the acfuql amount of lhe loss ø damage' Dedarafpns; and
D. LEGALACTION AGATNST US b. Withln lhe@verage terltory.
No ons may Mng a legat acllon agalnst us under 2, The coverage lerítory ts:
his Coverage Part unloss: a. The Unlted Stales of AmeÍca (induding lts
l.
There has been tull complianco with all of tho tslitorios and possesslons);
lerms of lhls Coverage Part; and b. Puerlo Rlco¡ and
2.'Ths aclton ls brought wllhin 2 years añer tho c. Canada.
date on which tho dhect physical ìoss or dem-
age ocoufred.
E, LIBERALIZATION
lf we adopt any revlslon that would broaden the
'undei Urts Goveroge Part.wllÌrout 'addi-
coveruge
ttonal p.-remium wtthin zt5 dayC pr'lor lo or du-rhg the
policy'perbd. lhe broadenéd coverage wlll lmmo-
'diateiy-appty
to lhls Goverage Part
cP 00 90 07 88 Copyrlght, tSO Commercial Risk Servhes, lnc., '1983, 1987 Page I of 2 tr

l. Prior to a tr¡ss'..' your Coversd Properly or

tffiÏrTfãrJ3år$"üi" o " REcovERY Covered lncome.
qoY:
2. Ftlle¡ a loss to your Covered foPqfy,or
- ered lncome onlylf, at üme of loss. lha¡
parry ls
iffi
gJ"în:lî"å:?if, [i:i"li.'HöH3"i-'iÉ one of lhefollowing:
ä;"å:å,ä;'ääääãJ.r'm"n$:fol:.P-':ig¡tillÎ . a. Someone lnsured bty lhis insurance;
il-.ãËdõ usio-ne "*t"$9I
ni.il'ii#l,i*x¡n'*+:ro;l"H
ä; ö såa¡rä ourtislÞ *.1-f.*
19-n1t.::warve vour rþhb
b- Abuslnossflm:
(1) Owned or controlled bY You; or
¡# Ë riËfffi:'Ëyt lnwilhg: (2) That owns or controls You; or
another
c. Yourtenant
Thþ wilt not restrict your lnsurance'
Services' lnc" 1983' 1987 cP 00 90 07 88 tr

Page2ol2 Copyrlght, ISO Cornmercial Risk
OMMERG'AL PROPERTY
cP 00 l0 04 02
BUILDING AND PERSONAL

PROPERTY COVERAGE FORM
VariousprovtsÍonslnthis.pollcyreslrldcoverage'Readtheenlire'pollcycarefullytodetermlnerlghb'duliosand
whal is a'nd is not coveled' o ¿aræ ra rha Namad rnsured shown ln tho Declaralions. The words
provldins lhis insuranco'

.råi:iË"ääï.ij;;åfé; to the Gómpan!'
otherwordsandphrassgthatappearinquotallonmarkshavespecialmeaning.ReferloSecllonH..Deflnltlons.
{bl equipment, suppllas and
A. Govcrage ' ' Materlals,
temporary slructuros. on or wihin
to
Ws will pay for diroot physlcal fcss 9!-o¡-{11a9e 100' feet- of the desorlbed prernbes'
at the premlses descrlbed in the used for making additlons, altsra-
öõåiä,íÞ?operty
ñ;ÉatiÑî;u-sø uv ór resultins from anv Cov- lions or rePahs to lhe building or
ered Gause of Læs- slructure.
{. Covered ProPertY b, Your Buslnsgs Psrsonal Property located
tn or on lhe buitdlng descrlbed ln ths Decla¡a-
Covsred Propert¡ as used ln.lhis Goverage
ü'{';;d* lr.' äo
itJ'úpu oJ p.I99'tv.*""i:bed rn [on" or ln lhe oporr (or'n a vehlcle) withln
ihË''$;ibn, ¡rrilte¿ ln A2u P.toparly 100 þet of the described premises, co-n'
Ñä õ;Ë;¿li' il âüm¡t or lnsurance ls.stnwn fn slstina of lhe followhg unless oÙ¡en¡iso
it eoecfaratiäns for lhat typo of property' soecìied ln he Declaratlons or on lhe Your
' or.stnrctcre Èiiin".s Personal Properly - Separatlon of
a. Butldlng, meaning tho buildlng Coverage form:
desc¡lbeC h lhe Dedarallons' hcludlng:
(1) Fumlture and llxtr¡n#;
(1) Compteted addit¡ons;
(2) Machtnery and equiPment;
(2) Flxtr¡ros, including outdoor lixtures;
(3)'Stock';
(3) PermanentlYlnslallad: you
(a) lvlachlneryand '' Aìl other personal property owned by
{4)
andusod lnYanrbusiness;
(b) ErylPmenl; f5t l¿bor. materlals or servlcosfr¡rnlshed or
(4) Penonal prgpelv ovmed.l¡.pu that ls '-' ãnanéed by you on personal property of
'-' used to nïàriram or seMce- tho -bulldlng olhers;
or struolure or lts premises' inaluding: l6t' Your use lnleresl as lenant ln lmprove-
(a) Flre exlingu'Fhlng equlPment ' rnents afid betþrments. lmprovemenls
(b) Outdoortuinlturq and bettermenls are flxlures, allerallons'
' (c) Floorcovedngs;and
h$lãltatf on8 or addlllons:
fdì Ao¡llancos used for reftþeraling' ' ' Made a parl of lhe bulldlng or slruø
(a)
ture you óccupy but do not or'r¡n; and
'-' vóñtttung, cooking' dishwashlng or
laundorlng;
(b) You aoqulred or made at ¡our ax'
Psnse but cânnot legally removei
(5) lf not covered by oher lnsuránce:
17ì Leased Þerso¡ral properly for which you
(a) Addilto¡s under conslruclt-m' alþfa- ''-''haüä' a'önlractuàl bs¡iixisibllity lo ln-
' l¡ons ánd repalrs to the þuilding or Crxe, unloss olhenvise Þrovlded for un'
slrudure; der Personal tloperty of othsrs.
@ ISO ProPerties, lnc . 2001 Page I of 't4 O

cP 00 10 04 02
c. Personal Properfy Of Otht.,.'lhat fs: n. Elecbonlc då --, except as provlded under

Addilional Coverages - Eled¡onlc Data.
{1) ln ¡/our cae. custodY or
contol; and Electronio dala means hformalfon. facts or
(2' Located ln or on the bulldlng desølbed compuler programs stored aE or on, created
ln the DecJarat¡ons or in lhe open (or ln q or uied on, or lransrnltted to or from com-
vehfclo) wlthln 100 feet of lhe dascr¡bed puler sotrrvare {including s¡ptems anq ?Þ
premlses. bttcatlons software), on hard or floppy disks,
CD-ROMs. tapes,
CD-ROMs, cells, data Proc'
drfues. cells.
taoes. drfues, Þroc'
Hor,vever. oû paynent fur loss of or dam- esslng devices or any other repositøios of
to pãrsonä órop"rly of others will only are used with
"oá computer soffirare which
Uõ for dre accot¡nt of lhe owner of the prop- The
elecbonically conùolled
2. Property Not Govsred foregolng descrþtlon of electronlc data,
Covared ProPertY does not lnclude: means a set of retated elaclronlc lnstruc.
lions wftich dlrecl lhe operalions and fr¡nc.
a, Accounls.- bills' anenc¡ food stamps or üons of a cornpuler or devlce connected to
other evidøtces of debt, rriofisy' noles or ít,.whfch enable lhe computer or devlce to
securities. tottery tirt'<ets held for sale aro rùce¡ve, process, store, rslfigve or send
not securitþs; dala, Thls Paragraph n., does not apply lo
b. Animals, urrtess ou¡ned by olhers . and your'stoclC' of prepackaged software.
boarded bv you¡ or if owned by you' only as
o. Ths cost to replace or restorè lhe Informa'
"s(ook'while lnslde of buildings; llon on valuable papêrs and re¿ords, ln-
c. Automoblles heH for salo; cludlng lhass whlch exlst as eleclronÍc dala.
d. Bridges, roadways, vralks' pallos or other Valuable papsrs and records lndude but
ara nol llrnltod to proprletary lnformation,
Pavod surfacas;
books of ac@unt, deeds, manuscripls, ab-
s. Gontraband. or property ln flte course of slrac{s, drar,rrlngs and card lndot s)Êteme'
itlegat bansPortatlon or trade¡ Rofsr to lhe Coverage Extenslon for Valu'
f. The cost of oxcavallons, grading. backfilllng able Papers And Records (olhor Than
orfllllng; Eleclrqnlc Dala) for tirnited coverage for
o. Foundallons of buildlngs. slruclures, ma
. valuable papors and records olher lhan
- chlnery or bollers lf lheir foundalions are lhose whhh exlst as eleclronic dala.
balow: p. Vehlcles or self-propelÞd machlnes (fir
(1) The towest basemont foor; or duding ahcraft or walencrafl) lhal:
(1) Æe lioensed for use on publb roads; or
{2) The surfaca of lhe ground' lf there ls no
basernent; (2) Æe operated princþally away from the
desøibed premlses.
h Lar¡d 0ncludins land on which ths property
ts locaìea¡, çslsr, growlng crops or laurns; This paragraph does not aPPIY to:
. l. Personal property while alrborne or r¡øter- (a) Vehlcles or selfpropelled machlnes or
borne; autos you manufacture, Process or
j. Bulkùeads, ptlfngs. plers, whanæs ordocks; warsbouse;
k-- Property thal ls coverod under another (b)- Vehlcles orselÊpropetled rnachlnos,
olher lhan autos, you hold for sale;
äovãna¡íe fonn of thls o¡ any olher polioy ln
whlct¡ it ls moro speciflcally descrlbed, ex- (c) Rowboate or canoês oul of waler at lhe
àept ør the excels of ttre amount due desc¡lbed premlses; or
(ulireürer )ou Gân collect on tt or not) from (d) Tralers, but only lo lhe extent ptovlded
lhat olhor lnsurance; '.-':'for'ln'the Covorage Exlenslon for Non-
l. Ret¡alnlng walls lhat arE not part of a bulld- otvned Detachsd Tra¡lers.
Ing;
m. Underground plpes, flues or dralns¡
€ ISO Properties. lnc.. 2001 cP 00 10 04 02 t)

Page 2 oî 14
q. Th6 followlng poperty v....j outside of (a) The [ci...-of the actual debris remorral
buildlngs: expense plus lho amount we pay for
direct physical loss or damage o<-
(1) Grain, haY, sFaw or other uoPs; ceeds lhe Limit of lnsurance on lhe
12ì Fsnc€s. radío
'' or lelevislon anlennas Covered Property lhat has susblned
{indud!ñg saiellita rlishes) and their lead- loss or damage,
¡n rr4ring, masls or towers. sþns (other (b! The ac¡ual debris removaf erpsnse
lhan ..ldn.ç âllâchêd to buildings). lrees,
nsioc[ç" €xceeds 25ú/o oî the sutrr of nhe da-
shruÞs or Plants {oihor liratt cl
ductible plus the ar¡iù'riill îhat v"c pcy
(reos, shrubs or farill), all cxccpt as ior <iirect ¡rfrysiuaf loos or Car:ege lo
pr$y.l4pg.n_!he_c(rYÈl'Fgs_El"nsitill
the (i_Uv¿¡tliJ Irfùpsriy {hat has sUs-
-tañeõlæõiEãTãgr--
3. 8ttveted Gaua¡cOlLosc
Sea apptlcable Causes of Loss Form as shovrn Therefore, if ( ){a) and/or {4}{b) app}y,
in the Oedaratlons. our tolal pa)rmenl lor direcl phys¡Èal loss
4. Additional tóveragès or damage and debris removal exponse
mãy reach but wlil nevef exoeed he
a. Dsbrls Removal Limlt of lnsurance on ll¡e Coverod Prop-
' - Gubject to Paragraphs.(3) and (4l,.we
(1|
wlllþay your expenso to remove debrls
erty that has sustained toss or damags,
plus $lü,0Ð0.
of Çavered Properly caused lry or re- (5) Examples
sulting from a Covered tause of Loss
fhat occurs during tñe pollcy pericd. The The followlng examplee assuma lhai
axoenses wlll be pairJ onÌy Íf thoy arÈ Yè- there ls no coinstrancg penaliv.
f¡oi¡ed to us in wr¡t¡ng wílhln 180 deys of Exampla#'l
ihe dat" of dlrect physical loss or dam-
age. Llmil of lnsuranço t 90,00{¡
(4 Debrls Removal does not apply to costs Amountof Dcduc{lble .î 500.
lo: Amounl of Loss $ 60,000
(a) Exwacl "Poltutanls' from land or Amounlof Læs.Payablo $ 4S.500
waleñ or ($50,000 - $500)
. (b) Remove, reslore or replace polluted Debrls Removal Ertpense $ 10,000
land orwater'
Debris Retnoval Expense
.(3)- Suble¡t to the exceptlorrs ìn Paragiraph
- Payabls $ îo,oo0
(4), the followlng provis-rons apply:
'($10,0û0 is 20% of $50.000)
'-
{a} The most we vrfll pay fo1 lhe total. ol
dkect ph¡ælcal loss or damage plus
deb¡'is romoval expanse ls the Limit The debris relr¡oval expense ls less than
of lnsura¡ce apPlbable !o lho Cov- 25oA oî ths çum of the loss payuble plus
e*d Property llrat tns sustalned lcse lhe deduc'tbls. The suo¡ of lhe loss pay-
or darnage' ablo and ihe clebtis Terìroval erpense
(bÌ' Sut¡i¿ct lo (a) aboro"lhe amo¡:nl wo ($49,5O0 * $tC,0GÐ = $59.5û0) is less
witl pay for deþrls rentovel sxPênse than the Urnit of lnsurance, Therefore
ls t¡riiiãd lo 2ã'Ã ol tlts surn cl' lhc the full ¿mount rf debrls ærnoval ex-
Ceduct*¡le Plus fhe amount that we penso ls parrìñfrls l¡Í¡ eccorda.'¡ca wífh the
,ay for dlrect physlcal lqçe or dant- terms oíParagraph (3),
âqã to lho Covere'd Property lhat h¿s
rustahed loð$ of däÍrage.
''
{4} ll'Jo urìlt pay up to an adrtltlooal $10.000
for debrÈ iem-oval e)pense' for eoclt lo-
catlon, ln any ôno occufrence of ph¡¡slcal
loss or damâge lo Covered Property' if
one or bolh of he following circum-
stances apPly:
cP 00 10.04 02 O ISO Froperties. lnc-. 2001 Page 3 of 14 cI

Example #2
c. Flre Departn'.- Sewlce Charge
-a
When lhe fire department ls called lo save

tlrnit o¡ lnsurance $ s0.000 or protect Covered Property from 19gyçtÍ
Arnounl of Deductlble $ 500 Cake of Loss, we wlll pay up to $1,000 for
ior fire department service
$ 80'000 your liabillty
Amount of Loss charges:
Amount of Loss PaYable $ 79,500
($8o,0oo - $5oo)
(l) Assumed by conlract or agreement prior
to loss; ot
Debris Removal ExPense $ 3o,ooo (2) Requlred bY localordinanco.
fìãhdê Êâññral FYnpnse applies to-!!þ jgl"*!
Payable Coverage'
-----Na-Lqductible
Baslo Amount s 10,500 d. PollutantGlean UPAnd Removal
AddlüonalAmount' $ 10,00Û We will pay your expoDse to extracj "pq!lu\
antsn fróm land or water at Ûre described
premlses lf the discharge, dispersal, seep
Tf¡e þasic ainount payable lor debnis age, mlgralion, release or escape ol the
rerroval cxpon$e undar the lernrs Ùf 'þollutants" ls €used by or resulls ñom'a
Êa¡asraçh igì ic ¿atoutated as Íolls','¡s: Cove,red Csuse of Ltss lhal æcurs during
$so,doo (S¡s'5oo + Ssco.) x '25 = tho polícy periotl. The exþencos rvilt be pakl
gZO,OOq åaPPed âl $10,5Üi'' The caP only if {hry are r€poned to tls in wrilirrg
.'r,rriie.s- bacnt¡se lho .sum of fhe fuss
u1;thln 18{l rjâys oÌ lhe clate c'n whic}r l}re
i'äiaf,te {$79,5001 and Ûìe basic urrtuu¡lt
lÌøvered Cat¡se of Losg oesurs.
baÍaOte'for debrru reøruval erpan'ce
o? lr¡' Thls Addlünntl Cove.îat€ dnes ¡lot apply to
igío,soo).""nr¡rt.exc€Blj tire Ll¡nit costE to test for, monilcr ûr asso.gs lha ex-
surânce {$gu.uuuJ'
i:¡toncc, cancenlrailrln or eflects of þollul-
Tha atJ¿lilíanal amaunt payabla lor debris anf:¡". tut u¡e wilt pây ¡or lasling vrh¡cb ¡ô
removet evpensè is pro'rided ln Tcqgl performed tn the course of extracting the
dance wlth'the letrne of Paragraph (4i' 'pollutanis" frr¡m lhe' land or vlalef.
because lhe debrls remoræi 6t(pt"rÞt'
t999 pay' fhe ntost we witl,¡:ay unrler thts ,\dðítîorlàl
l$æ,0o01 E*(Ãús 2Þ!,' af th9
i¡*e'pl$t thê deductlbte'r¡ur{¡uss
t$3úl,oü0 L¡ tol'etage fo-r cach describgd premises fs
û1C,000 for the gtlnr of ¡ll rnvqrell e,¡ç
-7,1¡% of $88.tltltll, anrj
ilrc
pêßsss arlslng ottt of Coverod Causes of
s¡¡m of the toss payable and deb¡is-¡u-
moval æ<Pense (579,6011 + $3Û,t09-' Losa occufilng durinâ each separate 12
Sros.5oOi' would-oxcee<t lho Limit ef ln month Perlod of lhle PolicY.
ðurati"u ($S0300'-
'cÒvered
The adrJitional e, Increased tøst Of Construcllon
amount of dobris rer¡x¡val e:<'
f1ì Addlllonal Coverage appllas onfy to
Jense ls $10,ü0Û' úe ma,rirnuÍ¡ payable ' Thls
' bulldlngs to whlch Úre Ìleplacemenl Cost
Lnoer Parragraph ¡â). Ihuv ll:e rÓry q9Y' ClpÍonal Covel aga aPPllaa.
al¡lo lol üel¡rle ru;r¡cvvgl expðltsh ¡n Inls
example is $¿ti,5UÛ; $S.{ttìO cl f¡a debris - ln lhe evenl of daqrage bv a Covered
'
{2J
ternoral exPÉú$e is ¡¡at ørve¡ed' Calse of Loec to a bnildhg ihat i9 Ëov-
rrred Proprt¡ we wlll pay tll,e increaseÛ
b Freservatton Of ProPortY cosls inctrfed to comply w¡tr enlolctÞ
tf it is nee.essary lo rnove Covered Property menl of Ên ordinance or bl¡¡ h tl¡a
¡rom ttro ¿escdhed pærnlses 10 preserve il couþç oF rP.pa¡r, lcDuÙdl¡ìg or tepÌace'
frorr loss ar d+*nage by a uo'lered Oause mønt ot darnaged ¡¡t"lis of tlrai properly'
gi I nss, we will Pay lor any dlrect ph]¡s¡cä¡ subiecì to lhe lirnttôtþns ulaietl ftl a'{3}
lnss or damage lo üral ProPertY: through e.l9) oI lhís Atidltic¡¡sl Cover'
{i} While it ls ¡)s¡ng rnoved ¡n wh}lo tempo-
"
agù-
rarþ storad ãt anolher locaüon; and
{21 Onlv Íf lhs loes or damagB om¡rs wllhin
'-' 30 úays afler the property ls lìrst moved'
O ISO Prooerties lnc. 2001 cP 00 10 04 02 ct

Page 4 of 14
(3) The ordhranco or lqrr rr . ¡'ed to ln e.(2J (l¡) urt'.-. r lhe repairs or replacement
ø, r¡p-ÄOî¡r¡ãnã¡ b".rera'ge is an oràË are mado as soon as reasonabþ
nan* oiøw lhat regulátes ùe con- poeslblaafler-lhe lossordarnage'
stuc{ion'or repalr of büüdíngs or estab- not to e)<ceed two-years._Wo may
¡Sf,"" äonins ix ¡anA use rãquire¡nents extend thís perlod in wrlting dur-
ãt Oe-¿eiäbed premises, ând ts fn lnglhetwoyears.
force at lt¡e lime of loss. (b) lf .lhe Þuilding is repaked or replaced
(4) ünder thb Add¡¡onal Coverage, wB wlll at the sameprerni¡es, or if ¡lou eleci
' ' ñ"ti"iåñi å*fs cue to ar¡ orathance or to rebulld at anolher premiseq lhe
hwlhat mo6t wB_wlll-Pa! fur lhe lnøeased
- Cosl o-f Conshuclbnr object to lhe
pmv'sionsore.(oÍffi
'' before lhe loss. even when he
¡urdrigüãs úñ¿a'nraguq anc H,ffiS6l",ll?::iff*f":1 "t
lb) YoufaiÞd to comPlYwlfh- (c) lf lhe ordlnøtce or law requiros relo-
(5) Undor lhis Addllirnal Coveragq ue uill callon to anolher premlses, fhe most
not paYfoc we will pay for lhe lnc¡eased Cost of
(a) The enforcement of any ordinance or Gonslruc{lon, subJect to the provl-
' ' tatfl wtrlctr requhes demolllion' repair,
slons of o-(6) of hls Addlllonal Cov-
reoþÈsmenl, reconslrudisn. remod- erage, ls lho hcraased cosl of con-
property Cue slruc'tion at lho nôw PremÌses.'
sl¡lìn ot rsmedtaÚon ofnpollutants"
t<¡ ðtr,ta¡nhallon by or (S) Thls Additional Goverage ls not subJecl
due lo the presence. growth. proliÊ to tha lorrns of lhe Ordlnance or Lavv
eratlon, sPread or ÈnY aclfuitY of Exclusion, to ttro exþnt that such Exdu-
. 'fttngls', riæt or dry rol or bactari4 or slon r¡rould conflld wilb the provislons of
lbl costs associated wllh the en- lhis Additlonal Coverage.
' ' Ar¡v
foróamerrl oÍ an añinance or lavr (9) The cosls addressed h lhe Loss Pay-
whlch roqufres any lnsured or others ment and Valuation Conditlons, and lhe
lo test f¡x, montlor, clean uP. re' Reptacêrnônt Coet Oplional Goverage,
ûtovs. conlalrL 118â1, dotcxlry or neu- ín lhb Coverege Form, do nat incJude
tËllze, or h arry t'øY resPond lo. or the, lncr¿ased cosl atltlþulôbls lo en-
Boaess the effects of 'þolhltanls"' foroemenl of an ofdhance or law, The
"fungus", unt o'r dry rot or bacterla. amq¡nt payable under hls É¡ldiliortal
Coverage, ãs staled ln e.[6] of lhis A$dl-
t0l The moet ì¡rB wll pav undsr lhls Addl-
'' tional Covemgq for each descrlbed tional Coverage, ls not subjtot to such
bulldlng lnËured under lhla Col'eragq lLnitatlon.
Form, îs $10,000 at 5ol" oî the Limlt of f. Eiactronlc Data
insumnce appßcable to thal bulldlng' (f)- Under lhls Addillonal Coverage, elec-
whlchever ls less. lf û damaged bulldlng tronic dátâ has lhe meaning descrbed
ls cortered under a blanket Llmlt of ln' under Propøiy Not Csvêted - Elecfruric
$trance whfch applies to more than ons DBta.
bulldlng or lÌem of propqri-y' q9l. lhq
mo$ ùe øll pay under lhls Add¡l¡onal (2) Subiecl lo lha prwblons of lhls Addi
Coverage. for lhàl damaged bulldlng, h llonal Corerage, we lvlll pey ñcr lhs cost
tha lessor of $f0.000 or 5% tímes lho to replace or resl$e ele€tonb @ta
rralue of lhe danragd bullding as of lhe v¿t¡fch hae òeén deslnoyod or corøptad
time of loss tt¡nes {he applícabte coin- by a Ccvered Cause of Lr¡ss, To the
srJIãntê pÊfc€ntage' eitent that elecbonþ data is not rs"
placod or restorod, lhs þss will be val-
The a¡nounl payabte urrdsr lhlo Addl- ued al the coçt of replacernent of the
lfonal Cõt/efage ls a{rdilional tnsurancs' r¡edia on rvhlch ltre elecl¡onlc dala was
({ Wlh respect to thls Addillonal Coverage: stored, wllh bþnk medla of substantially
pay for thê ldentical t¡¡pe.
- - Wa rvill not
ia) ¡ncreased
Costof Construclion: (3) Thâ Covered Causes of Loss appllcable
(¡l is aclually re' to lbur
Busítrcss Persofial Propøty ap'
-- Until the property ply to this Adetilional Co\€rags -
Elec-
paüed ot rePlaced, ãl lhe samo or
ànother Premis€s; and lronlc Dala, su$ect to the futlowing:
r-r r¡il|rl 04 02 lçiiSC Prarlerta€s lnc.. '¿001 Page 5 of 1{ U

(al lf the Causos Of . .,s - Speclal 5. Goverago E)(tsn. .,ns

'' Fonn applies. c'overage under thls Except as olhe¡wlse provided, the followlng
Artdltlonä Goverage - Eleckonic
'Data F¡<tensions apply to property located in or on
ls limlted lo lhe "sPecltled lhe building described in lhe Declaralions or ln
causes of loss" as defined in that the open (ór ¡n a vehícle) wllhln f00 feet uf the
iórm. an.t collapso as sot forth ln described prernlses.
that form. lf a Coinsuranca percentage of 80o/" or ¡narc
lbl - Broad Form
!f tfra Cat¡ses Of Loss or, a Value Reporting porlod syrnbol, ls shown
' ' a¡4)tlas, coverage lh,: lddi ln lhe Oeclaratíons, you may exlend ths fnsur'
{äilã óoverase - -t¡nder
Electronlc Data ¡rF ance provided by lhls Coveragð Pârt as follows:
----aþ¡Íãr-OÐllapl erarseHorTÞ"ln-that
fo¡m,
fel lf the Causes Of Loss Form ls en' i1) Fulldlnsa
'' dorsed tq add 6 Ççvered Cause of lf llrls policy covers Bullding, you may
Loss, lhe additlonal Covared Cause exlend that lnsurar'ce to aPPIY lo:
of Logs does not appl¡l to the cover- (a) Your nçw buifdlngs whílo boing built
ago provlded under t¡ls Addltlonal on the described premlses; and
Covcrage - Eleclronic Dala' (¡) Bulldings yoç acquiro at. loca(ions,
ldl The Covered Gaueeu ul Loss inclurje other lhan lhe descrÞed prern¡sos,
'-i a virus. harmful üode or sirnilar ín- htentíed for:
slructlon intfoduced ilrlu ol enâclÈd
ort ¿, t;¡r,îÞutef sYsÞili iirrtìud:*5 ti! Slnflar use as lhe bulldlng de
scn'bed Ìn lhe Oeclarations; or
eleütlurb dàta¡ or a nel'rorlc tc'whlcll
ii ls ,.'or,nactsd. dcslgnsd lo damage Use r.t: a wsfshoiJsð.
{ll}
or deslrory any part of lhe system-or The rnost w¿ wtll pay for lcss or damage
dísrupt íis ncimd oparatlorr' .Bu[ under lhls Ertension þ $?t 0,tü0 ai each
hera is no coverage tor loss u darn- bullding.
îgs causd by or resullfng ffülì na-
t
nicufalion of å computor system (ln- {3} YourBuslnsEs Personal Property

ciÜalng elsc{ronic rlata} by ally ern' (a) lf {lrfs po[f¿9 covers Your Buslness
Pfotoe, lnduding a lernPorary or Psrsonat ProParlS You mâY axland
' iaalte¿ smPloYee, or bY an ellity q that lnsurance io aPPIY tu:
lained bY You or for You to -lnspecr, fll Bustness tlersonal property, in-
<lesígn. inriult, rnodity' malniairl, ro' cl¡.ldinç such properly that ¡rou
palr or rePlace lrlgl s)'stem. newlyacqldra at anY loråtion You
f,:l Tir'. mo.çl wo w1ïl paf under thls Arldí- acqulre otþ¡r than sl falr$, trad8
'' linnnl Covomne - Fleclronlc Data ls shows or extrlþltlons;
$Z-,SOO for all loss or rlamage-
sus{ajnod
(iíl 8uçfnê$3 flen¡onal Ptþperly, in'
tn any one pofirry yoar, regardless ot lho cÅding such properþ that you
'occu¡rencês
numbêi of ol loss or dâ,Í- at ¡pu¡
ne.*{¡l acqulre, hcaled
agn nl llre number Ût prem¡soê, loc?-- newf constucted or acqulred
ilðns or @mputer e:/Btêßls ¡nvolvèd' lf bulldhgs af tho localþn described
bss pavmant on lnê l¡fsl occulfËltl}t' in the Dechratlons; or
oosa ncír exñaust lhie amourtt, lhgtl tt¡ö
balancs ls âìratlabls for subsequont ioss {îll) Busi,rteos personal prôperly lhar
yôu n6r¡'ly acquire, locetBd at the '
or damage sustainsd trt but nd aRGf thal
tlescrlbod Prsnlses.
oollcv vdar' Wilh respecl to an occt¡l-
iarrcå lirt¡ldr beg.rls ln ono pollcy yeæ Tho most wâ wlll yaY for loss or
and oonlfnues õr resulis î¡î addi{lorÊl .damage unde;lhis Ettension is
n*n or damagÊ in a suboequerú pollcy $100,000 ¿t e¡rct¡ l¡uildhg.
ysar(s), ãll losi cr damage is deemod. tÜ (bl This Exten$¡on droes nol appþ lo:
tjé st sta¡nrxJ Ûr lhe poltcy y6ar in wÏ¡¡$ì
lhe osalrfeltca begatt, (l! Pcrsonal prûpÈrty ûf olhers lltat ls
lsmporarilY ¡n )our Possession ln
lhe course of tnslallttg or Por-
formlng work on such ProPertY; or
Ð ISO P.onerlies. lnc,. ?001 cP 00 10 04 02 tr

Page ô of '14
fil) Personal propert¡ ,. olhers that is

c. Valuabte Pa[.- ¡ Añd RecordE (Other
'' temporarlÌy ln your possersslon ln
Than Électronic Data)
lhe course of !'our manüactunng (1)
' ' You may extend lhs insurance lhat
or whotesallng activities' applles io Your Buslness Personal
Prðper¡y to apply lo the cost to replace
{3) Perlod Of Govorage or rsstõre thó 6st lnformatlon on valu-
Wilh rcspect lo fnsurance on or at each aÞle papers and records forwhfct dupli'
näwiv aiqu¡tad or construcled propedy' cates cio no{ exisl. 8ut th¡g Fxlenslon
àãuá,iat¡s w¡tl e¡ro vttterl âfi'/ of lhe fol- doe¡ not æpply to vâluabfs papere atd
tondng lìrst occuls: reÈn¡rls whiih ¿xist as elacìronlc ciale'
dåîË ha3 tñe .-ceoning c-
{s} Thi3.policy.oxpiresi-. , - Flectrurric
-ièF6äd-ï¡'ñdäilmÌteiõ/-Nöt
cdt'eref--''-
(b) g0 days expire.afrer you acquire rho
orooërtv or bestn .ó"åi*"t¡ãìioi rt t
Elaclronlc Datâ'
ã¿ËJr't¡u uuiiãíng lhatwould quali! (4 ll lha causes of Loss -.spa9la! Fo.rm
ããio'*u¿proper{y;or Eppll€s, covefage under-thls Exlension
(c.}Youreportvaluestous'ls'lim¡teotolhe.speclfledcausesof
ahd Çol-
we wül charso votr addilionar premium iä:"å:"1",H0nü,å?ttJ:#'
írr values ¡lponød from lhe dale you the t3auses Of loss - Broad Fonn
-co¡sfrqi
acqulre fhe property oi"otglrr ' - lf
{3}
lþn of lhat part oí ine iruildìö $ìat wou¡s
eppliss, ct'erage under thls Fxtenslon
Collapse as set forlh ln ihai
auatity as côvered propc¡Îy' ;1;[to"-
b. Personal Eff¡cts And Property Of Others (¡úl UndEr tliis Extens¡oo, the most tre will
You mav sxl¡*d tho fnsurance that.applies Dav lo ranlace or reslore lhe lost infor-
{ç sç1rr Étusíness Personal Property to app'|y inátton Ë $2,æo 'al aach described
lo: Þrentlses, unless a Hgher limft ls shov¿n
effects orvned by you, yotr in lhe Declaralions. Sucn amounl is ad'
' ' Personat p€rlners mÊmf'ÞJs' yout
{1)
ofl¡cúrs, your t' dltione.l însurance. Wa will also pay for
rnanâgers o,r yotlr etlployoei's' This. ex- the coal of blank matarial for reproduc-
'the recorrls (tdrether or nol duplÞ
l¡àlso-n r¡ues irol ¿ppfy tc losg or dam- íng
aga bY tlreft cães e,xbl), and (when lhere !s a dupll-
rate) for tf¡e cr¡st of labor lo lranBcribe or
l2l Pensöìial proPetry of ol!¡¿rs in your cutt'" cooú lha records. The cosls of btank
cusiody or colìtso¡' måtätn¡ and labor aro subþct io the äp-
Tha rn{-'cf ws' vlbl pay for loos or damage plkabte Liml-¡ of lnsurance on Your
under lhin Fxtenslon ls $2,500 al eãcll
t¡9- il¡lslnoss Personal Properly alr<¡ tl¡ore-
*c¡¡f,eO prcrnlses. Dur. paynront for-lgs1.lg -fore co'rerage of suclt 6osta ,s noi addi-
darnaoe topersonal properly ol onss- lioal insuranoe.
u¡ill oÅly Oe idr t¡e accou¡rt of ìhe owner u¡ d- FroFarty Off-Premlsgs
tho Property. -riesûrarne- provlded
- - You may €xþ.rnd lho
(1)
liy üris Coveraga Form to ?pPly to your
'ls away from
C-svered Property wtllle it
. ths dssqìbed Premlses. if il ls:
(a) Temporarily at a tocauon you do not
own, lease or oÈorate¡
' ' ln storage 8t a locállon

(bl Vou -lepo-,
orovHed- lhe lease ratas execuled af-
' ier tho'b'eginnhg of the a¡rrent policy
term; or
(c) At any þÁr,lrade showorexl¡þillon-
(2) This Extenslon does not apply to prop-
erty:
(a) ln or on a vohicle: or
O tSO Prooerties lnc . 2001 Pagn 7 of 14 n

cP 00 10 04 0?
your
ln the care, custody. .-.-;onlrol of
(b) (b) Durin$..-..ictrlng or unhltching opera-
'-'
i"tesp"t*ons, unleis ine propertyis lions. or whsn a haller becomes ac-
' fr.. a
care, oustody or árntrol át cldentalþ unhltched from a molor
"uätr shów or
iãft,Gãe exñib¡tlon. vehlcle or motorizod conveyance.
damage
(3) The most we wllt pay fqr l-oqs_ or (3) Th9 mgs.t w9 will pavJor-lo¡s or damage
'-' undeiiñì" E¡tensËn'is $10,000. under lhis Éxtension Is $5,000, unless a
higher r¡m¡t is shown in *re Decrara*ons.
e. outdoor property
You may extend tha insr¡rance providad by l"^. lnsurance tç êxcess over lha
(o)
mis co,ärus" r,ü'ti"Jpffif:l",i,lã#: ñTi",*fiå,H;fi,,i$'#1,#5":f;
--.--fen.ee,-fadrn-anrr-JeravjsiortcNBmas_J[:.._._...___-.___.JrilsäH;iü;ä:-__ __
cluding satellita dlshes), signs (other lhan
i'¡gns'ätt"ci,ed- to nuilclirgei, tfggr, strrufrs Câctì of theac Exlensþns ls aildilional fnsumnce
ãriä pÈnrÁ' tonef q4 "sqck". of lrtes, yrJesl glherwis3- h.dicated' The.39gt["!9 93.fd¡
äürîniîñlàñtsi,'tncluding deb'ris rêfrrov¿i- th;t, Coinsurance. does not appty to lhess Exten-
ãinänle,'caused by or resttltlng from any of slons'
må fo[otv¡np carJses of ¡oss if lhey are Oov- 8, Excluslons Ànd L¡rn¡iat¡ons
'
ered Gauses of Loss: Ser apptir,abla Gauses of Loss Form as shown h
(l) Frre; lhe Decla¡atlons.
p) Lþhlnlno; C. Ltmlts0f lnsurance
{3} E)çlosiûl: Tho most we wíll pay for toss or damage fn any
{4} R¡ot or CMI Commoüon; or one occ,t tronce is lhe- appllcable LFnit of Insurance
shown in lhe Doclarations'
(5) Ærcrafl.
The mosl v¡s wilt pay lor losg or damage to ot¡t-
The most ws wl,l pay for loss or darnagq door slgns atlactred lo bulldhgs ls $'l'000 per sþn
under ll'¡is Êxtgnsion is $l,0tlq but not
rnore tnan $25o ¡or ;ti oö'Ë;. ci?iø ãt
In âny ono occuffetrüe'
;t",ìi. ìt-""àlinrlts apply to äny o¡ìe ocüLtr. The ììharge_ar¡ii

_limils nppt$$!1
lo thl Firc uepârtrno¡t Sorv-
iåiïä. *ã*ai"g ct itïitypcs ór nurrber of he Polh.rtan't 9tean.!F end. Retrnval
iùrnri""iîr darnagect in thät occtrrronce. Arirlitfonal covârãqes ora ln addilion to the l.iûúls
t!rânc6'
f. Non-Orpned Detached îraller¡ Pay;nante u¡der the P¡ecen¡allon of Proporty Atl-
(ll You may øxleml tho Inswancs that
aoDlies to youi ä¡.¡slncss personal Limllof lnsurance'
ditíonal covelâgê vdll not Increase lhe appllcable
property to apply roláü ãioamagê. Q
hallärs'rtrat ftiu do not orm, provided D' Dsducl¡bls'
lhâlr ln any one occuroriclr of loss or damage-(lrereh-
(a) Ths traiter ls used ln your btþlness; after iolerred to as lose). rye- wl{. frslreduce lhg
rb)
' ' r¡¡ntrr¡l
or
"rhe rrairev rs r.r youl c'ro, cr¡srodv
6t lttê prerclsas desøibed ln ffi,iå,lllii;iåä'ifrJäffi,5"åäåii
F .re ar[usted anruunt of lc¡ss hs lgss than or eqial
-pay
lhe Decf;al¿tlonq and to the Deduct¡¡le, we vyiniof lor trat tosé. f
(c! You have a corttrôctual rasponsìbility llre a,ljusted a¡nount of loss sr¿eeds thê Deducli.
' ' to Pay for lr¡ss or rlamaç fo lhe Ue, wä .uitf then sutrl¡act lhe E¡cducllbfe from fhe
trall-er. adjusted un¡ourrt of loss, ênd W[ pay lhe retultlng
(2) \üe will not pay for any loss or damage smou¡lt qr tho LfoDll t t lnô¡rânce, whlchever 'to
thatocctrg: løse'
(a) whlle the trailer ¡, all@e.d to ?ny

-mjøiizó¿ whon lhe occt¡rence lnvolves loss lo more than
motor vehicla or cor¡uey- one'ítem of Cdvered Propirty and separafo lJmiB
änce, wn"r,"r ãi áäii¡" motãr veli- of lrsuance apply, fhe totsae wlll not be combined
ù- ó¡ motornø õnváyanc" f ¡¡t tn datetrnlnhg a.pPlicelbi¡ of the Dedt¡c{il¡le. Ðul
tt¡e Daductíble wlll be applfed only once psr ocoor-
mot¡ol; rgnce.
O ISO Properties. lnc.. 2U(t1 cP o0 10 04 02

Paça $ of 14
Example No.l: 2. Áppraísal

(Ihls.example assurnes lhere ls no coinsuranco pen- lf we and you disagree on the value of lhe
a¡ty.) property or lhe amounl of toss, ellher may
make wrilten demand for an appraiml of the
Deduclible: $ 250 loss. ln lhls evenf, each partyw'úl sdect a com-
Limit of lnsurance - Bldg 1: $ 60,000 petent and impartial appralser. The two ap-
praisers wül selecl an umplre. lf lhey cannol
Llmll of lnsurance - Bldg. 2: $ 80,000
Losc tc Bldg. ',: $ 60,100
Loss to Bldg. 2: $ 90.000
Tha amounl of loss to Bldg' I (S60,100) ls less

thar the sttm ($60.250) of the Limlt of Insurance
applicable lo Blrlg. I plus lhe Deductibls,
a. Paylta chosen appraise6 and
The DeducÌlble vvlll be subfacted from lhe amount
of losç in calorlallng the loss payâblãfor Blü9. i: b. Bear {he ol¡ìer exponses of tho appraisal
and urnplre equalþ.
$ 60,100 ll lhere is an appralsal, we wlll sflll retain our
- 25A
rþhtto derry the claim.
$ 59,S50 Loss PaYable - Bldg. I 3- Dutles ln The Event Of Loss Or Damage
a. You must see lhat lhe followlng are done in
the event of loss or damaç lo Coverod
The Deductible applles once per occunence and proped¡¿
lherefore ls not subtracled ln determlning lhe
amounl of los$ payable for Bldg. 2. Loss payabte (f) Not¡fy tha pollce if a law may have beon
for Bldg. 2 is the-Llmit of lnsurance of $80'Û00. broken.
Tofal amounl of loss pâyþle: $59,850 + 80,000 = (2) Gtrê us prornpl noilce of lhe loss or
s13e,850 damage. lnclurte a rJescilptfon of the
property involved-
Êxample!úo.2:
e>campte, loo, assumes fhere ls no colnsurance {3) As soon âs posslble, glve us a desøip-.
ffhts llon of how, when and r¡¡hg¡e lhe losg or
penã¡ty.) damega occurfed.
Tho. Deducübt" *6
¡imits of lnsurance are the same (4) Take all reasonable sleps to protect lho
aç lhosg ln Þ.ample No. 1.
Coyered Propsrty from furlher damagq
Loss to Bldg. 1:$ 70.000 I an, keop a tecord of your sxpÈnses
necessary lo protecl lhe Covered Prop
(exceads Llmit of kTsurãnce plus Deduc{lblÐ erty, lor consideral¡on fn the setllen¡ent
Loss to Bldg.2: $ 90,000 ôf the olalm. This wlll not fncrease lhe
(exceeds Límít of lnsu¡anca ptus DeductlÞle) Limit of lnsurailce. Horyever, we wllt nol
gay lor any,subsequent loss or damage
Loss Pa¡¡able - Bldg. {:$6o,Û80 . resultlng from a cause of loss thaf ls not
{Limit of lnsttrance} a Coveted Cause of Loss. AIso, il feael-
Loss Payable-Blclg. Z:i'OO.OOO blo, set üro darnaged property aside and
(Llmit of lnsurance) h lhô bqst posslble order for exåmlna-
tlon.
Total amoun¡ ol loes PaYabte:
(5) Al our regÞsli gþo us complete hvonþ
$140'ooo
tories of the damaged and.undamagad
E. Loss tcndÍtlons proporty. Include guâAtllles. cosls, val-
The follovi,ng condifþns åpply ,n addilfon to the ues and amouitl of loss clalmed.
Corn¡nort Polloy ConOilions and .lhe Gommerclal {6} As oflen as may be reasonably requlred,
Pro¡rerly Gondltlons- permlt us lo lnspect ihe proporty fFq\'¡ng
{. Abandonment lhe'loûs ôr damage and examlne yorr
books and records.
There can be no abandonment ol any proporty
to us.
cP 00 10 04 02 G)lsu Propertles, lnc.. 20ul Faga 9 cf14 D

Also permit us to b¡(6 \ -.,¡pl€s of dam- We may adJi....'lossos wllh the owners of
aqed- ar¡d undamaged pmperty for ln- lost or damæed proporty lf other lhan you.
sfection, tesling and anelysls. and per- lf we pay the ourners, such paymenls tdll
niit us to make coples lrorn your books salisû your clalms agalnst us for lhe own-
end records. ers' property. V/e v¿ill not pay lhe orvners
(d' nprs Íhan their financlal [nterest In the Cov'
Send us a slgned, snorn proof of loss ered Properþ'.
oo¡rtaining the Informallon we requett lo
hrvestþa[e tha clalm. You must do thls We rnay otecl to defend you agalnst suíts
wltlrln é0 da¡rs aftø otlr reo.uêsf- We wilf Brlsing fraflr clalms of owners of properÇ.
srrpply ycu with lho necessary íorms.
l¡À/e will do ihls at our expense.
(s) or dan¡a¿¡e
wllhin 30 days after we r l¡le SWoIO
setllemeni of the claim.
proaf of loss,'lf you have complie<t wilh all of
b. Wg may examlne any insured under oalh' lhê lârmô of thls Covenage Parl artd:
whila nó¡ ln lhe presenco ol any other in'
sured and at suc*r llmes as ntay be rea- (l) tÂte trave reac¡ed agreement wíth you
sorubty required. about any mattor relaiing cn lhe amount of loss; or -
to th-rs ir¡snrar¡ce or lhe tJalrn. lncludhg an t2) An appralsal a"'rald has been made.
lnsured's boc?.s erú records. ln lhe event of
Recovered Property
an examination, aþ insured's anguíers must
be sþned. lf oilher you or we rôcovet any prçerty after
loes sel[ement. ¡hat party nust gtve fhe olhor
4, LoËs PaYmenf prompt nolice. At your opllon, the properiy will
¿. fn the eveni of loss or óamagø covered by ba reüJrned to you. You must then reiurn üc ue
lhls Goverage Form, at otlr option' wB wil¡ lbe amounl we pald lo yo{¡ forthe prcperty. we
dher: wÍfl pay recovery êxpênges and the expÊri¡es lo
repaír lhe ¡ëcilverêd propsrty' sulrfact lo lhe
{1} Pay lhe value of fost or damaged prop-
erly; Ll¡nil of lnsurance,
12ì Pãv üre cost of repalrlng or replacing lhe Vacancy
'
' losi or damaged þroperty, sublect to b' a. Doscriplfon Of Terms
below; ({l
- - As used ln this Vacancy Condiüon, ùe
(3) Take all or any parl of llre properþ at an term buildlng and the term vacant have
agreed or aPPralsed vals6; or {he meanlngs eat foith ln ({Xa} and
{lXb) below:
' ' Repair, rebulld or repÞca
(á) -rh.e f'rgnertf
$rilit other property of like klnd and qual- (a) Whon lh¡s Pol¡cy is issued tg a teq-
itY, sublect to b. belorY. ant, and w¡ü¡ respect to lllaí tenanfs
We w¡Il delsn¡ine lhs value of losl or dam- lntarest fn Covered Propetty, bullding
agad property, or lhe cosl of it-s repalr or.re- means lhe unlt or sulte rented or
oËce¡i¡ent, iá accordancæ wilh lhe aqpliva' leased to lhê tenanL Such buildìng ¡s
ble terßrs ôf the Valúalbn Conditlon in lhls vacant when it do¿s' rtot contaln
Cov€lago Fon¡r or any appllcable provlslon errougth þt¡siness pèrsona¡ property
whlch amsnds or supersedes lhe Valuallon lo conduct cdrstcrnary crperalions.
Condilíon. (b) When lhtt Potþ ¡u ls"tt{ tq þP
b. The cost to repair' rebuild or replaco d¡es osrnar or generat lessee of a bu$ú
not incUde lho'increased cosl attrbuùõble to lng, bultdlng means lhe enttre bullû
anforcemgnt of any grdlnanoe or lâw regu' ¡nó. Suctr buifdirrg is vacsnt uiless at
.least 31?å' of its iotal sqüaft' foolage
latíng fñe c¡nelruct¡on, uce or repalr of any
' pmperty fs:
c. We wlll give noti¿e of our ínienllons with¡n ([ Rented to a lassee o¡ suÞlossee

30 days ãfter wa ;ecalve lhe sr¡rlorn proof of and used bY lhe tæses or suÞ
loss. lesseo lo conducl fts anstomarY
operallons; and/or
d, We ¡¡ill not pay you more thsn your flnanclal
lnterest in the Öovered ProPatY- 0l) Used bY lhe bullding owner to
conducl customary oPerations-
Page 10 of 14 0lSO Pronerlias lnc 2001 cP rì0lo 04 riz Ú

(2) BuildhgS under constn,.. -on or renov€Þ d. Glass at lhe',,-'st of replacement wlth safety
tion are not considered vacanl- glazlng nnterial if required by law'
. Þ. Vacancy Provlsions e' Tenant's lmpfoVements and Bettermenls at:
lf lhe building where toss or damage oocurs

(1) Actual cash value of Ûre lost ordamaged
t"å'Ouuï vuänt tor more trs¡ 60-consecu- propeTty if you make repairs Promptly-
tive days befors lhat loss or damaga oc- (2) A proporllon of your orlglnal cosl ¡f yo{¡
çufs: do not make repalrs promplly, We wiii
will not pay for env_lo-ss -or da;magø deJem|ne tha proporlonate value ãs
''' we
f1!
cailserl rry átv of lhe'folfowlng e¡ron lf lollows:
lhey are. iovered Causes otl¡ss---- --"-{a}-$tutHpt¡$e-eriqls¿þpsl-þptþs-¡ul*------
(c) vancalism; ber of dayo from the loss or damage
(o)
:ffH:[ '$*"fË*Hï,ïnïl3i,i"îi_
rü,*'-'ì'- -¡----'- -e-"- ,,,- 1"*h:'#:il"JJ!:iöi,ii
nuTF of days from
sbove Þy.tlp
,ro
(c) Buirdinesrassbreakaee; A:"T;låHliSt,it"lgJlT''snrs
{d) Water damage; lf ¡our lease contains a renerr¡al lptlon.
{e) Theff or thè expiration of the reneunl optlon pe'
(l) AttemPted theft. rbd wil¡ replace lhe expiralion of lhe
leass ln lhls Procadure.
12ì Wilh resÞecl to tovered Gauses of þss
'-' oiher than lhose llsted h b'(rxa) (3) Nolhirng if olhers pay for repairs or re-
through b-(r)$ above. yâ yll reduco placement.
Ure a-mouni wd would othôm¡se pay for
{he loss or damage bY 15%' F. Addltlone! Gondltlons
7. Valuatlon The following condillons apply fn additlon to lha
Ws wtll clelermtne lhe value of Govered Prop' cóynmon pdiry con¿¡ilonå'dro he Commercial
erty in the ovent of loss or damage as follows: PropertY Condillon5.
a. Æ aclual cash value as of the time of loss or
-' 1. Colnsurance
uámãse, except as proylded ln b', c', d' ând lf a coínsuranca percentage is shor¡n ln lhe
ô, bê¡ûrrr. Declarallons, lhe fo¡towins condltion appllos'
b, lf lhe Llmit of truurance for Bulldlng salls-
a. r¿Vo wilt not pay the íull amôunt of any lcss if
fies lhe AddiÜonal GondltTon. Colnsurance' iha vah¡e of Cô'rered Property at lhe llma of
and lhg cost to repair or-taplâcÈ lho dam- loss llmes lhe Golnsurance percunlag+
âged bi¡¡ld¡ng proPe(y ls- $2,500 or. loss, we sþ3wn for ll ln the Daclarallons is greater
wîtt pay lhé-cost of building r€pal'rs or re' Itnn the Limit of lnturanco for the Proporty.
pl6cemed.
hìstead, we r.v!!l detonnlne lhe rno¡t we w¡ll
The ctst of buildlng repoirs or roplaceneDt paY uslng the following ctePs:
úoes not inch¡de the hrcreased cosl atlrib¡t-
unf* O enforcernonl of arry ordÌnance or- law {l}
I'
Mu}tlpfy lha mfue of Govered Properly at
the tÍnis of loss by lhe Coìnsur¿rìtg pol!
ieoulàtna tho conslrucüoi, uso or repalr ot
cenlage;
arii proöertv, However, lhe lbrlowlng prop-
étri itAl'Ue'ualued at ths ac'l¡Jol cash value '
f2) Oivlde the l-lmil of lnsuranos of the
' wánwtleû atlachedto tne bulldlng: property by thefr¡iure detennlned h Step
(11;
(l) AwninF o'- floor coverlnge;
(2) Appllances for refrlgerallng' venUlatlng'
'' dlshwashíng or laundering; ø
"óòkhg.
(3¡ Outdoof squlpmênt or ft¡niiurs'
c- 'Sloc*" tou have sotd but not delivered at
the selllng prlce less dlscounts and ex-
penseo ¡rou olhen¡nise would have had'
O ISO Prooerties Inc 2001 Page 11 of 14 tr

cP 00 10 04 02
l3l Mt¡lliofu the total arnoui.. -.,f loss, before Exampte No.3:
''' ttre åpi¡l"aUon of any deductlble. by the When: Thevalue of ProPertY is:
frgure ðetermhed h SteP (2); and Bldg. at Locatlon No. 1 $ 75,000
l4l Subbact lhe daduclible from the figure Bldg. at Locatlon No. 2 $ 100,000
'' determined in SteP (3). Personal ProPerlYat
We wlll pav fho amounl determined ln Step Localion No.2 $ 75.ooo
l4I or lhe-limit of insurance, whichever is $ 250,ooo
i"s*. non the remainder, you rvill ellher have The Coinsurance Per- '
io rely on other lnsurance or absotb the loss cenlage for it ís 9Ùolo
The LlmÌt of lnsurance
Exampla No. I (Underlnsurance):
ñf E6ñh!:s-ãltÚFE¡=---
sonal Property at Loca-
When: Thevalue of lhePro¡ tlonNos-1and2ls $ 180.000
erly is $ 250,000 Tlre Deductibla ls $ f .00O
Ths Goinsurancc PeÊ The amount of loss is:
centage orlt is 80% Bldg. at Location No.2 $ 30,000
The LimÎt of lnsurance Personal ProPertY at
for it ls $ loo,ooo Location No.2. $ 2q.O00
The Deductibb is s 250 $ 5o,o0o
The amounl of loss 'ls $ 40.000
Stop fl): S250,000 x90% = $225,000
(1): gQlS = $200,ü)0 (tt¡e minimum amountof lnsurance lo
Step $250,000;¡
(lhe mfnimum arnount of hsuranca to meel your Co¡nsur€nce requiremenls
meet your Colnsurance requirernenlsi and to àvold lhe penalty shown botow)
Step (2): $100,000 { S200.0c0 = .50 Slep (2): S1Eo,00o + $226.000 = .80
Step (3); $40.00u x.5t] - $ZO,00C Slep (3): S50.000 x .80 = $+O'OOO
Step (4): t2o,00o'92û = $19,750 step (4): $40,000 - s1,o00 = s39'o0o
Its u'ill pay no more lhan $1S,750. The remaîniltg Ws ¡'rlll pey no more than $39,000, Tho remarnitlg
$20,250 is not covered. $l 1,000 ìs nol covered
Example No. 2 (Adequate lnsurance): 2. MorlgagEholders
lVhen; Thevalueof lhêProP- a, The term mortgageholdsr inc'ludos lrustee'
ertY's $ 2õ0,000 b. We wìll pay for covered loss of or damage
The Coinsurance Per- to bulldlngs or stuclures lo each morlgago-
csnlagð for it is Sg9/o holder shówn fn the Declaratlons ln lhelr or-
The Liml of lnsuranco dor ofprecedence, as lnlerosts may aÞpeaf'
for it ls $ 2oo'oÛo c* The morlgageholdeÍ has lhs tlSlt to ¡sceive
The Deduclible is $ eSo
loss paftent even if lho modgageholder
The amount of loss ls $ 40'000
has iørtaO forec{osure or slmilar acllon on
lhe buildlng or slruclurs-
Tha rnlnhum amount cf lnsurance to meel d. lf rvo deny your claim because of your acls
vour Co¡nsurance requirement b t200,000 or bocauée-1ou have faned to comply whh
iszso.mo x 80%). Therefore, lho Llmn or lho loms oi this Coverago Pail' the mort-
Ìñã,i""'n"" fn this Êxampfo ls adeguaiâ ånd gqgeholder wlll st¡ll hav¿ the right to Æælva
no oenatlv eniies. We will pay no more iosõ payment ¡t the mortgãgehddet:
inari $3g,750'i$o.ooo a¡nount of þss ml- {1) Pays any pre,rnlum dua under thls Csrr
nus tho rJeducllble of $250). eæge färi al our requesl if You have
h lf one t lmlt of lnsurance applies to two or ' failed to do so;
more separ¿!Þ iÌerns, lhis condlllon yl¡ 9¡- (z) Submlls a slgnecl, sworn proof of loss
óiv r" tis total of all property to whlch
lhe '' wfth¡n 60 dã¡rs afior ¡scelving not¡co
limlt aPPlies. from us of Your failure to do so; and
Pacle 1? nf 14 tÐ tSO Properties lnc . 2001 CP 0o 10 04 Q2

'
{S} t-l-ôs notilied us of any t.....J99 in owner- c. The terms c¡i...¡s Oplional Coverage appfy
shlp, ocdlpancy or subslantial change ln only to loss or damage thal occurs:
ñsk knov¿n to the morlgageholder- (11 On or after the effsct¡vo date of lhis
All of fhe terms of lhls Goverage Part will OptionalCoverago; and
then apply dìreclty lo the morlgageholder. (2) Before lhe Agreed Value expiration date
e. lf u¡e pay the morlgegâholder.lor any loss or shorur ín the Þeclaratlons or the pol'tcy
damaþe-ancl deny payment lo you because expiratlon date, whlchever occurs first.
of yorr acls of because you have iailed to lnflation Guard
compty with the lerms of tltls Coverago
Part e. The Ljmlt of lnzurance for properly to whlch
@.appli_ed will aulo-
'rl-f
f nãm-ortsas-eholdã,r'iñgììs--wãé7-1ñF-
' rnorlgage will be transfered to us lo lhÞ
matically hcrease by lhe annual percenlagte
shown ln lhe Declaratlom.
e,xtent ofthe arnount we PaY; and
b. The arntnl of lnsreaso will be:
- - The mortgageholde¡'s righl lo lecover
{2} {f} The Limit of lnsurance thal applied on
ths full arñount of fhe mortgageholdet's
dalmwlll not be lrnPalred. lhe rnost recer¡t of lhe pollcy inceplion
dale, the pol{cy anniversaty datg oÍ any
At our opllon. we rnay pay to the mrrtgage- other policy chango ernonding t¡e Limlt
holder lha whote grincipal on tho mortgage of lnsurante, thtles
. p¡us any accrued Inlerest. ln {his evont, your
(2) The perçontage of aanual incrsas€
msrlgsge ar¡d noto will be lrarsfened to us
shou¡n ln üie Deôlaralfons, €xpretgèd as
a¡ìd yÐu ur'{l pay your remalning rnortgage ' a declrnal(example: E% is.08),limes.
debt to us.
f. lf we oancet thls polloy, vle will give written {3} The number ot da¡æ since tha beglnnlng
of fhe current policy year or lhe offectlve'
no(ho to ths rnortgageholder al teast:
daltt of lhe mosl recent policy change
({l 10 days before tt¡e effectfue date Ôf amending the LÙnÍt ol lnsuranco, divided
cancelatlon lf wo cancel lor youl non- by 385.
Payment ol Premium; or Example:
' ' 30
Í2ì daw before lhe offecllve date of
cance['?lüon lf we cancel for any other lf : The appllcable Llmlt of
Þâson. lnsurance ls $ 100,000
Tlie annual Perconùage
g. tf '*e de¡t not to renew lhls policy- we will is
- give witten notloe lo tha moÉgagehoHer al
lncreass 816
The number of daYs
least 1o days before lhe expiratlon date of
since lhe beginning oÍ
thls polþ.
lhe pollcy year (oi last
G. Opllonal Goveragos pdlcyct¡ange) ls 146
lf shown as appllcabte ln tho Declaratlons' lhe foþ The amount of lncrease
lowirrg Opiloriál Coverages apply separately to ls sí00,000 x .08 x 146
eachlþm. +365= $ 3¿0o
l. AgreedValue
a. Tt¡e Addllional ôondltloU Colnsurancê, 3. Reptacemont Cost
does not appty 1o Covered Property lo ttrt¡lch
pay a. Replacernent Cost (wilhoul deduclion for
thls Optlonal Cover,age applles..Wg $l depreclalion) replacas Aqtual Cash Value ln
no moìe for þss of or damage (o lhat prop-
the Loss Condilion, Valuatk¡n. of lhis Oov-
erty ttran lha proportlon lhal ìha-Limli of ln- erago Form.
suranse under this Coverage Parl for the
. propeûy bears to lhe Agreod Vefuo shown b. Thls Opflonal Covarage does not dpply to:
forIblhoDedarallons. {r) Porsonal PropertY of others;
b. lf thc expiralion date for this Opüonal Gov- (2) Contents oI a rosldenoe;
erage shown ln the Dedarations is not ex-
lsnded. the Addlltonat cond¡tbn' Col¡rsur'
ancâ, b reinslated and lhis Optional Gover-
age otplres.
cP nn 1î 04 02
,î'lSO P.¡c..lies. lnc ?fnr Page 13 of 14
fgì Works ol arl, anllquosr..-' rate articles, lf a building Í-....¡bullt at a new premiseq lhe
' ' lnctudlng etcfilngs, plctures' cost described ln e.(2) above ís Dmiled to
"J?!ary'
bric-a- lhe cosl whir:Ì¡ would havs been incuned if
mur¡t"sl bronze-s, porcelalns and
brac; or
lha bulld¡ng had.besn rebuilt at the original
Premises.
(4ì 'Stock'. untess tho
tncludlng 'Stock"
option ls shown h lhe Declaratlons' f, The cost of repaÍ or replacement does not
inc{uds the íncreased cost atÙibulabks to
Under the terms of lhis Roptacement Cost enforcerirent of any ordlnance or law regu-
Optionat Coverage, lenants' ímprovements latlng the Çofisbuction, us6 or ropair of any
bettermentsrare not considered to bs ProPertY. i
"rio
..tt'"epqreer?!.p:grqf f .v.gjg$:lÌ:-,.....,"..-. -'-'4:'Extedslon' êFReplaeament-cout-To-FersonaL" I
or damage
-- You may make a claim for loss actual
c.
cash
Propêrly OI Others
lhls ingurance on an
value basis lnstead of on a replacement
"Ãrä"d'W a. lf the Replacemonl Cosl Opfional toverage
cost basls. ln lhe event you elect lq havg is shorryn as apptlcabte ln lhe Decìarallons'
lhen lf¡ls Extension rnay atso bo shoìfln âs
øil or darnago sellled on an acfual sash
applicable, lf lhe Declalailons shorv thle
dlue basis, yóu may siill make a o'loirn lcr
ccr' Extension as applicable, then Paragraph
lhe ¿ddltlonal Gova¡ãgê lhis Oplional 3.b.fl) of lhè Replaceme-nt -Gost Opllonal
eraoa Þrovides if you notlfy us of pur irrtent
'so
wlthh ist
days aRer Úte los¡ or Covèrage ìs deleted and all other provisions
io õo
damage. ' of the neflacoment Cost Optional Cover-
agø apply'to reptacemenl cost on pøsonal
d. We will not pay on a replacement cosl basís propertyof otherc'
for anY.loss or damage:
b. Wilh respect to replacemenl -cost- 9n fhe
11ì Untit lhe lost or damaged property ls parsonal-propedy óf others' lhe following
actuallY rePaired or rePlaced; and Iímltalion aPPlies;
(4
' Unlass
' tho repalrs or replacement .91e lf an item(s) of personal property-of olhers
made as soon as reasonably possible ts subJect lo a written contracl whldt g9v1
aflerthe loss or damale. ems yäur [abllity for loss 91 gqma-Sq lo that'
Wlth respecl lo fenanls'lmprovements and itern(ó), hen vaiuation of thal item(s) rvlll be
bettemrcnts, the following aho âpply: ¡ase?-bn tho arnounl for whicir you are ii'
(31 f lhe condilions in d.(1) and d'(2) above abþ under such contract, but notlo excéed
" ' ate not met. lhe valuo of tenanls' lm-
nì ¡asÁ"t of lhe replacernent cost of the of lnsur-
wíll be cÍe1 property or lhe appl-rcable Limit
ñrorc^"nts and bettormentsyoui ance,
iermined as a proporllon of origtn-a-l
cost, as sat forlh ln lhe Valuatlon Condl' H. Þellnltlons
llon of lhls toveraga Fo¡rU and 1. "Fungus'rnoans any lype or furm of ftr.ngus'
(¡) We will not Pay lor loss or damage io indrñing mold or m¡i¿ar" and anymycoloxins,
'' iounrs' trrpiovements and betlermenls sporee,ìcents or by'producls produced or r+'
it olhers pay for repaìrs or replaceme¡ìt' leasad bY fungí,
tlle'.rl!l not pay rnore for þss er darnage on- 2, any- soll4 llquld, gassous or
-'
a.
å'teüiäc"mänt cosf basis lhan lho least of
- 'Pdtufáola'means
lhermal lnltanl ø contarnlnanf includlng
tt), t2) or (3), suble6't to f' below: smoke, vapor, eoot, fuines, .aclds, alkalis,
lnsurance applicable lo lhe cttemlca¡" ánd waste. Waste lncludes materiãls
f1ì Tho Urnlt of
' losl ordamaged ProPerlY,
lo be recycled, reconditioned or reclalmed'
3- "stoclt'means merctrandlsa held h slorage or
l¿l Tho cost Ûù replace he lost or damaged
for sate, raul materbls and ln'procoss or f¡n-
ProPêrtY with olher ProPetlY" includlng supplles used ln lholr
iãñt¿ ú;Ot,
(a) of compamble malerial and guallty: Packing or shlPPlng.
and
(b) Used forlho samo PUrPoso; or
f3ì The amonl actually spent lhat ls nec'
' ' ess"ry to repalr or'replace lhe lost or
damaged Proporty-
@lSO Properties, lnc., 2001

cP 00 l0 04 02 tr
Page 14 of 14
IMMERCIAL PROPERTY
" cP00320402
BUSTNESS INGOME (WlrHOUr EXTRA EXPENSE)

COVERAGE FORilI
Various provisions ln lhls potlcy restrict covefr¡ge. Read tt¡e onlire polriry caretully lo determine righls, ùrtíes and
what ls and ls not covered.
in lhe Declarallons. The
words \,e',
tus'ând refer to the Company providfng tltls insurancE.
Ott¡er words and ptnases thateppear Ín quolatiorr marks have special meaning, Rofer to Section G. - Delinttions'
A- Covsràgø With respect to the requlrements sel forlh h lhe

precedlng paragraph, if you occupy only parl of the
1. Buslness lncome
slle at whlch lhe descrhad prernhes are located,
' Buslness lncornemeans lhe: yourpramises means:
a. Net tncome (Net Profil or Loss before ¡tt' a, The políon of the buifdíng which you renl
come laxes) tlrat would hwo been earned Jbase or occuP¡4 and
orfncuned; and b' Æty aroa within lhe buldlng or on lhe site at
b. Gontlnulng normal operallng expenses wh'lch the descnbed premlsos are locatsd. iI
hcurred, lndudlng PaYroll- lhat area serylces, or ls used to gah accsss
For ¡nanufselurlng risks. Not lncomc lncludes to, tha described premises.
lhe nel sales realua of production. 2. Covarad Causes Of Loss, Excluslons ¿ûnd
Goverage ls provided as descrþed and llmlted Limltatlons
bstow for one or more ef.the following optbns for See appllrbte Causes of Lgqs Form as shov¡n
whict¡ a Ltmll oI lnsurance ls shovm fn the Decla- In the Declarations.
rations: of
3. Addltional Limllalion - lnterruptlon
a, Bushess lncomo includlng oRenlal Valuo". Cornpuler Operatlons
b. Buslness tncoma olberlhan'Rental Value'. a. Covoæge fcr Buslness lncome does nol
c. 'RenfalValue". apply whon a 'suspenslon" of 'opofallons"
lf option a. above's seleuted, the term Bustness

ii caused by destruction or oonupllon of
electronlc data, or any loss or damage io
lncóme wül lnclu<le "Rental Valus". lf oplion c- eleclronic data, except as provtded under
above ls eelected, the ternr Buslnsss lncorne will
meãn "Rentãl Vatuo" mlY. .
thô Àdditional Coverage
tomputer Operatíons:
-
lntemrption Of
lf Ljmtts of lnsurance ara shorryn under nlÔlé ¡han b. Elec-tmnic daþ means lnformaüon, facts or
one of lhô abovs opfions, lhe provÞbns of lhls oonpder pmgarns stored as or on. croated
Coverago Part appfy seperately lo eadl or used on, or fansmlüed lo or hom con¡
Ws ìlrill pay for lhe actual loss of Bus¡nèss lncomo putor software (lnducling systerns and ap-
you susiatñ dus to lho necessary -suspension" of plioafone software). on hard or fioPpy d'sks,
iour "operatlons- during. he "per'rod of rosto¡ation'. CÞROMs, lapos, drives, cell¡. data ploø
?he "súsprnsion'tnust be cgused by dÛect physF esslrq devhes or any olher repoeitories of
. cal þss-of or damage to property at prernises compüter 6oft"/are u¿h¡ch ere used wifh
whhtr are doscrtbed ln the Oaclarati<rßs end fo¡ elecironkully conÎrol¡ed equiprnent. The
whloh a'Buelness lncgma Umil of Insurance is term cornpufer ptogrârns. refened fo ín'lhe
shown ln the Dec-laratlom. The læs or damage foregoing descrlption of eþuronic data,
musl be caused by or tesult from a Covered msaris ä set of related eledron'rc insfruc-
Cause of t-oss. With respecl' lo loss ot or danago tions which dlrect the operalions and func-
to personal p¡qperly Ír lhe open or pereonal prop lions of a co¡nputer or davice conneolad to
erty ¡iì a vehicl9, tho desc¡lÞed pemlses incl¡¡de it, whlch eriable lhe compuler or device to
thé area wthh lO0 feet of lhe sile at wtrirù lhe de- toútte, p'rocess, store, relrþve or send
scribed Premfses are located, dala.
cP 00 3? 04 0? @ ISO Properlies. lnc.. 2001 Page 1 of I

4. Addlt¡onal Govorages d. Ertended BuSr;resslncome

a. ÉtPensesTo Roduce LPss (1) Buslness lnqome OthorThan "Rental
Value-
tn the svent of a covered loss of Business
lDcome, we wlll pay necsssary gxpqnses lf lhe necsssary "suspension" of your
' 'operallons'
yoo lncür, axcepl lhe cqst of eflnguishlng a produces a Business ln-
frre, to svoid further loss of Bt¡shess ln' como loos palable undor this policy, we
corñe. The tola¡ of our Pâyment for Busi- wilf pay for fhe actual .loss of Business
ness lncome loss and Expensas to Roduce lncoine ¡ou íncurduring he period that:
Loss will not bo more than lhe Business ln- on lhe date proPortY (excePt
under this Goverage Form (afier applicallon rebuift or replaced and "oparalions"
of any Colnswørce penally) lf lhe Erpensos are resumed; and
lo Redrrce Loss had not been lncurred- This (b) Ends on lhe earfier of:
co\rerage doos not hcroase tl¡o Limlt of ln:
sufanoB. (l) The date ¡ou could restore Your
*opefalions", wlth reasonable
The Coinsurance condltlon does not apply speed, to the level $thtch would
snecifically lo such Expense's to Reduco generate the bushess income
Lbss. but-lt b used as descr¡bed aboVe to amouill that would have exlsted lf
detêrmlne lhe totra! amarnl pa]table. no dired Ph¡rsical loss or damage
b, C-wllA¡thorltY had oc¿r¡ned; or
We will Pay for the aclual toss of Business (tl) 30 consecutitæ daYs afler ths
lncome rou sustaln car¡sed by ac-llon of civil dale determined in (l)(a) alrov6.
authorhy that prohibils accèss to lhe d+'
Flowever. Fxlended Businoss tncomo
søibed-premìses due lo d¡róct Þhyslcøl loss .
does not apply to loss of Busfness ln-
of or da'¡nags !o propaly, olher than at lhe come.lncured as a result of unfavorablo
descrhêd Þrenlses. caused by or f€sultlrig buslness condittons causod by lhe bn-
from any Coveæd Cause of Loss- Thls cov' oact of lhs Govered Gause of Loss In
erage bã4lns 72 hours aflar tñe llms of hat ihe ar"a where the described premises
actJón. añ¿ rull apply for a pøiod o! up lo
are localed.
llrree cor¡cscullvs $reeka from lhe dala on
which lhe coverago begins. Loss ofBus¡ness lncome must be
caused by direcl physlcal bss or dam-
c, Alteratlons And Now Bu¡¡dtngs age al tlre descrlbed premíses caused
We wrT pay for the actual loss of Busfness by or resplting from any Covored Causê
hcomo yoir sustain due to direct phytslcal of Uo6s.
loos or ðarntge sl tha descrlbed promlses (2) l'RsnlâlValue"
caused by or resdtlng from any Covered
Gause of Loss lo: tf lhe necessary 'sLspenslm' of your
"ooeratlons' Droduces a 'Renlal Value"
(lì
- - Netr buildings or sÙuclures,
whelher
lo.is payable'under this pollcy, we wil,!
cornpteürorundercor¡slrucllon; pay fõr the actual loss of "Rer¡lal Value'
(2) 'Altera[ons or addittons to exlsthg bu$d-
-- you lncur duríng lhe Peflod that:
hgporsùuhres:and (a) Beglns on the date properly is. ach¡-
f3l Machinenr. equiprnent' supplles or ally repaired, rebullt or replaced and
' ' bu¡ldhs ñateriãf locatod on or wlthin tenanfabllity ís rostored: and
r0Otôel of lhe descrbed premises and: (b) Ends on lhe eadier of:
(a) used in lhe conslructlon, alteralions (l) The'date you could restore lêhant
or addiÜons; or
oútupanoy¡ wilh reasonable
(b) lnddenbl to lhe occrJpancy of nsw speed, to lhe level whlclr would
ÞuIdhss. gânerate lhe 'Renlal Value' lhal
lf suctr dkact physhal loss or daroagô de- would have exlsted lf no dlrect
laræ lhe shil óf 'op€ratíons', the lerlod of
physlcal loss or damaç had oc-
reimnaflon' wlll bogh on the dale "opera' cutred; or
tlons" would have Þegun lf the dltect physl- ' 30 conseculivo daYs affer
(ll) tho
cal loss or damage had noi occured, date delermined in {2)(a) abovo'
,.:,1qo 7 a..9 -.rêtì o.-^r-.ti+< t^- îl'tn' no 00 'j? n.,. q?

I
Howsver, Extended Bi¡',ness lncorne (dt The Còøred Gauses of Loss inclu<Je
doos not apply to loss of "Rental Value" a vlrus, hannful code or simtar [n-
lncr.¡rred as a result of unûavo¡able busF struclbn inlroduced brto or enacted
ness conditbns caused by the Impact of on a computer system (hcludlng
lhe Covered Cause of Loss ln lhe area elecfionfc data) or a network to rrrhlclr
wtrsre lhs descrlbed promlses are lo- it is connected. designed to damage
cated. or destoy any part of the system or
Loss of "Renbl Value' ¡nusl be caused
disrupt ls normal oporaüon. But
thero ¡s no coverage for an lntomrp
by dhec't phpi,cal loss or darnage at the lo mar¡iÈ¡lation of a
lirrn related
sultlng from anY tronic dala) by any emplolæe, ln-
e. lntenuptton Oi Gomputer Operations cludíng a lemporary or leased em-
thfs Addfllonál Coverage, elee ployeq or by an entity relained by
' Under
11)
' lronlc data has he meanlng dessibed you or for you lo lnspecl, design, frr
under Addillonal Llmllallon - lntenuplbn stall, ma¡nta¡n, ropai or replace that
Of GomputerOPeradons. system,
(2) (a) The mosl we will pay under lhis Addl-
- - Subject to all provislons of this Addilional tional Coverage - lnlerruptlon Of Corr¡,
Coverage, you may extend the lnsur-
arrce lhat applles to Busfness lncorne to puler Operatþns is $2.500 for all loss
appty fo a "suspension' of "operatþns" sustalned ln any one policy )raâr, re-
caused by an lnlemlption in computsr gardless of the number of lntemrptions
or lhs number of preñlses, locallons or
operations due to deslnrtion or corrup ' computer syslons hvoþed. lf loss pay-
tlon of elecbonlc dala due to a Covored
Cause of Loss. menl relatlng to lhe ñrst ínlonupllon
does not exhaust this amounl lhen lhe
- - Wllh raspect to lhe coverage provlded
{3) balanc,e ls availaHe for loss sus{ained
undar thls Additíonal Coverage, lhø as a result of subsequent Ínlemtplions ln
Covered Causes sf Loss are subjact lo lhat pollry year. A balance remaining a[
¡¡e blloÀ,lnS: the end of a policy year doos not in-
" lf
fa) lhe Causes Of Loss Special
Êorm applles, coverage under thls
- crease lhe amount of i¡rsuranco in lha
next pollcy year. Wilh respect to any ln-
-
AddÍlonal Coveragê lnlerruption Of temJpl¡on whlú begins ln one potþ
Computer Operalftrns is limltad to the )r€ar and conllnues or rosults ln addl-
'specllled causes of ¡oss'a$ d6fhêd llonal loss [t a subsequent PolicY
in that form, and GollaPse as se¡ year(s), all loos ls deemed io be sug-
forlh ln lhatlorm. talned ,n lhs pollcy year in which lhe in-
brruptlon begar¡.
lb)
'' -
lf lhe Cauæs Of Loss Broad Form
applles, coveÍaga under thb Addi- -
(5) Thls AddiUonal Goverage lntenuplion
tibiral Coverage -
lntemtPtion Of ln Computer Oporalions does not apply
Gompuler Operatìorte lncludes Co¡- to loss susta¡Ded afier tha end of the
lagse as sst brlh ln that form. þerlod of restoration", even ¡f ths
fcì amount of lnsurance stated ln (4) above
'' lf the Gauses Of Loss Form Is en-
dorsed to add a Covered Cause of has not been e)ùausted.
Loes, lhe additlonal Covered Causs 5, Goverage Extenslon
of Loss doeç nol aPPIY to the cover- lf a GoÍnsurance pêrconlage of 50% or more ls
age povkled under this Additional ¡hovcn in lhe Declaætions, yþu may gxtend fhâ
Covemge - lnterruPlion Ûf GÛnputer lnsurance provldod by fhis coveraga Part as
OPemilons. follors:
IÛEtI'LY ÀCOUIRED LOCATIONS
a. You may efend ¡rour Buslness lnoorns
Coverage to apply to poperly at any loca-
li'on you acqufe oher lhan fafrs or exhbl-
llons-
b. The mosl we will pay for loss under his
Extenslon ls t100,000 at each localion.
c9 fi^ Ì? n I fì?
' 'eñ íì.^..â.{t-.? tf .. 4/
' ' Þ:'¡r¡c 'ì nl I
f
c. ¡nsuranco under lhis gxtå.*íon for each 2. Dutlea tn the Eùr¡{t Of Loss
newly acqulred locatlon will end when any of a. You musl see lhat the'following aro done in
the bllowhg f¡rst occt¡rs: lhs ovantof loss:
(1) Th¡s pd'xry exp¡r€s; (l) Ñotiff the pollce if a larr may have been
(2) 30 days o<plre afrer you acquire or beglrt brokan
to construcl lhe ProPertY; or (2) civo us prompt nolice of the dlrect
(3) You reportvalues to us. physical loss or damago. lnclude a de-
br scrþtíon of the property lnvofved.
We will ctrarge ¡ou addltlonal premium
the propsrly. of fioq when, and where ün dkect

phyrlcal læs ordamage occuned.
Thls Extenslon ls addltional lns¡¡rance. The
Addilíonal Conditlon, Colns¡rance, does not (4) Take all reasonabla steps lo protecl lhe
apply lo thls Exlenslon. Coverod Rroperty from furlflor damage.
B. Llmits Cf lnsurance
and keep â rscofp of your expenses
neces¡sary to protect lhe Covered Prop-
The most tvp wlll pay lu loss h any one oocur- erly, for ænsideralíon in lhe selUement
rence ls lhe appllcable LÌmíl of Jnsurance shown in of lhe claim. Thls wlll not lncrease lhe
ll¡e Declaratþns. Ltmlt of lnsurance. Horavel we will not
The llmit appllceble to lhe Covorqge Êxtenslon ls pay tor any subsoquent loss or damage
in additlon tô lhe Lím¡tof lnsu¡ar¡ce. reeulling ûom a cause of loss that ls not
a r3ovoreri Cause of Loss. Alsq if ieasi-
Pa}mûnts .undsr the followlng Addillon¡l Go'rer- He, set lho damagad property asido and
'ages will not lncæase lhe epplbable Llmlt of lnsur'
br lhe besl possble order for examlna-
ansol lion.
1. Alteratbns and Nevu Bulkfngs; (5) As ofren as may be reasonably requlred,
2. GivilAuthorltY, permìt us to lnsped the prcperþ prorlng
3. Extended Buslness lncoms; the los¡ or damage and examlne your
books and f€oords.
4. Expenses lo Raduce Loss.
Also þermit us to take sarnplas of dam-
C. Loss Condltlons aged and undamaged proprly for ln-
The follortng condllþns apply h additÉn to the spec[on, lestlng and anal¡æi+ and per-
tomrnon Policy Gonditions and the Gomme¡¡jat mlt us lo make coples from yutr bookê
Proper$ Gmditlons. and records.
1, App¡alsal (6) Send us a slgned, sruom proof of loss
containlrç the lnformatlon rro reguest to
lf we and you disagrea on lhe amo¡nt of Net
' .
lnvesllgate the dalm. Yoü must rlo ülls
lncome and operallng oxpsnse or lhe amount
wllhln 60 days afler our r6quosl. We wlll
of toss, e¡lher may malre uÍltten demand for an
supply yon wilh lhs necessaryforms.
appralsal of lhe loss. ln thls event each party
vritl selsct a cornpotent and lmpartlal appralssr. (7) Gooperate w¡llh us ln the hvestþallon or
seltlor.nent of tho clo¡m.
The twû apprabsrs will selod an umplre, lf lhey
cannol agióe, élther may request lhat eelecllon ls) lf !,ou lntend to continus ¡Þgr busfness,
nop-
be rûads by a Judge of e oourt having lurlsdlo-. ¡rou must rosuma all or part of yutr
tþn. Ths áppralsers will sfate seParatev lhe orallors' a¡ quickly as possible.
am€ünt of Net lncome and operathg oxpônse b. We may otamlne any lnsured under oaþ
or aÍrotat ol loss. tf they fdl to agree, they wfll . .tú[p.not ht.lhe- presence of any oll¡er, ln-.
-- - "$¡bmît theír-drfferencas'to tre ¡¡npke. A''deci' sured and at such tirnes as may be rea-
sion agreed lo Þy any two wifi be bfndíng. Eactl sonably roqulred. abut any matler rdallng
partYwlll: to ürls hs¡rance or the clalm, lncludhg a¡¡
a. Pay lls dtæen aPPrabeç and tnourËi's bootts a¡rd reærds. ln lhe ovant of
b. Bear the olher erponses of he appralsal ar e¡ø¡ninallon, an lnsuretl's answers must
and umplre equallY.
beslgned.
lf lhere b an appralsal, we will slill rehh our

ñght to deny lhe daim.
Page 4 of B O ISO Progertíes. lnc.. 2001 cP 00 32 04 02

3. Loss Dstermlnatton L, We will not pay rf¡dføl¡ arnount of any loss lf lhe
Llmlt of lnsuranco for Buslness Income Is lsss
a. The arnount of Businsss lncome loss will be lhan:
determined based on:
a. Tho Cohsurance percentage shown for
11) The Nol lncome of lhe busfness bofore
'' Business lncome tn lhs Declaratlons;llmes
th€ direct physlcat loss or darnage oc-
c¡lned; b. The sumgf:
lÐ' The llkelv Net lncome of lho hrsÍness ll (f, ûle Not lncomo (Net Profit or Loss
' no phyc¡cd loss or dønage -had oc' behre income taxes)' and
lhal would lßety have been eamsd as a èpofìses,

result of sn inc¡ease ln lhe volurne of that wot¡b have been earnod or lrrct¡rred
buslness due lo favorable buslness con-
' (had no loss ocatned) by your "operallotìs'
ditþns caused by the irtpact of lhe Gov-
ered Cause of Loss on custorners or on
àt the described premises for lho 12
monlhs followlng lho inceptfort, or lasl prê'
olher buslnessss:
vlous annlversary date, of lhls policy
{3}- The operallng êxpensos, lnduding pay- (whhherrer ls laler).
mfl expenses, necessary to fesume "oP-
Inslead. rle Wtl determine lhe most we wlll pay
eral'lons" wllh llþ samo quatity of servíce
uslng lhe lollowlng stePs:
lhat exlsted fwl baforø lhe ditect physl"
cal loss or damage; and I, Mullipþ lhe Net lnoome and operatlng e)Pense .
Ober relevant sourcès of lnformation, for tlre 12 months followlng lhe inceplion, or
{a) bst previous anniversary date, of thls pollcy by
lndudlng: lhe Golnsurance percenùage;
(a) Your fhancial records and account-
'lng Procedures; 2. Dlvids lho Lknit of lnsurance for lhe descrbed
- prernlses by lha figure delermlned in Step f;
. (b) Bilts, invobes and other
and
voucl¡ers; and
9. Multlply lhe total amount of loss by lho figure
(c) Deeds, lisns or conlracts. determl¡red h Stop 2.
b. ResumPllon Of OPeratlons We witl pay the arnounl dete¡mlned h Step 3 or
We witl reduce the amoùnt of ¡pur Business the llrnlt of insurance, wftlchewr is less. For lhe
lr¡come loss lo Ú¡e exlenl you cal rssume remalnder. you will eltfier have to rely on other lrr
your "opetalhns', ln wholE o¡ in part, by surance or absorb lhe loss ¡oursetf.
islng damaged or undamaged.property (ìn- ln determlnlng operallng expsnsos for üe purPose
cludtng merchandise ø stock) at the de' of apptying the Cohsurancs oond¡tion,lhe lollow
søibeä Pr€mlsÊs or elseì4'here. hg expenses, lf appllcabfe, shall bo deducfsd lroít
r- lf you do not resume "opela!¡grs ' or do not lhe iotal of all oP€ratlng exponses:
roöuma'opomllons' as gulckly as possble, '1. Prepaid frelght - ouþoÌng;
rre will pai ¡ased on lhe lenglh of time it
wot¡H háve takon lo resulne "opereilíons'as
2. Relums and allowances;
qubHYas Posrible- 3. D¡sslot-urls;
4, Loss Pa¡rment ¡1. Batl debls;
We will pây tur cowrtd loss wilhh 30 da¡æ af- 5. Collection o)<penses;
ter ws feólve lhe sworn proof of loss,- lf^you 6. Cost of raw sbck and faclory supplies con'
have complled wilh all of lhe tetms of this'Cor- sumed (includlng tansporhlion ctrarges)
erage Part and:
-. .' - 7...Gost.of . mercùnndlso sold'(lncludlng -transpor-
s. Wä"ftii,Ë¡"äa*eo aùedrnãr¡i úñh vou äñ taüon cfnrges);
lhe anountotlocs; or
8. Cosl of olt¡er suppltes consumed (¡ncludlns
b. Ær aPPrahat award has been made. lransporlation charges)
D. Addi8onal Gondltton 9. Cost of seilces prrcbased forrr oulslders (nol
COINSURANCE ernployees) to resoll, that do nol conlinue under
cont¡act;
ff a Goinsunance pøcerrtago ls shoun tr lhe Dee
larallons, lf¡e btlowirlg condiÜon applies ln addldon
to lhe Corûnon Poliry Gonditlons and the Com-
m erclal ProPerlY Gondilions.
cP 00 32 04 02 @ ISO Properlies. lnc. 2001 Page 5 of I

Poü/er. heal and refrigeration L,óntgt ülaf d9 1. Maxtmum Pur¡okl ln¿emnity

not contlnue under conhact (if Form C? 15 11 The Addltlonal CondÍtíon, Colnsuranco,
ls atùached); doos not appþ to thb Coverage Form at lhe '
11- All ordlnary payrofl expens€s or lhe omount of descrlbod premises lo'whictr this Oplional
payroll exliensã erduded (lf Form GP 15 1o ls Govanago applies.
atùacÌred) fltd b. The most we w,lll pay lu loss of Business
12. Soedal deduclions.for mhlng properl¡eç (mya¡- lncome îs lhe lesser of:
Uås r¡nle.ss speciñcally indud€d fn coroage; (f) The amount of loss suslained during tha
acfuat depleiôn commonty known as úr¡it or '120 days immedlateþ followlng üte bo
oost oeP¡el¡ofl - ¡¡q Pçlw.@¡,ø
welfare änd rstlement fJnd charges based on (2) The Linlt of lnsurance shovYn ln lhe
lonnage; hhed lrucks). Decla¡aüons.
Examp¡e No. I (Underlnsurance): 2. Monthly Llmit Of lndomnltYr
a. The Addiltonal Condftion, Colneutance,
When: The Net ln@me and oparallng expenses does not apply to lhis Cowrage Form atlhs
for tho 12 monlhs followlng lhe lnception, descrlbed premlses to ttdtlù lhfs Optlonal
or last previuts annlversary date. of lh's Corenage apdles.
policy at the described premlses would
har¡e been $40O,00O.
b. The most uæ wlll pay for loss of Bushess
The Colnsurance Percentago
lncome ln each perlod of 30 coruseq¡lfve
days after lhe beghnlng of lhe þeriod of
¡s' 5s% ' resloralion'ls:
The Lknlt of lnsurance ls $l5o'ooo
The arnount of loss ís $ 80,000 (l) Tho Llmll of lnsura¡ìce, mulþlled by
Step l: $400,000 r 5696 = $200,000 (lhe mhl- (2) The fracllon shown ln lhe Dedaralions
mum Emount of lnsurance to.meet your for thls OPtlcnal Coverage.
Coinsurance requirements) F:xample
Stap 2: $150,000 + $200,0fÐ = J5
steþ 3: $ so,ooo x .75 = $80'oF
Wtren: The Límil of lnsurancs b
We rrrdl'pay no more than S60'000' The re $120.000
Thefractlon shor¡n ln lha
mahing $20.000 b rrot c¡vered.
. Declaallons forthls
Þcampte No. 2lAdequats lnsuranco):
' Optirnat Coverage ls 114
The mostr,ve ìvill PaY for
When: Tho Net lff¡me and operafing expoDses' loss ln each Perlo! of 3P
for íP
12 months fotk¡wlng lhe hcaption, conseculive dala ls:
or lasl prevlous anniversary date, of lhls $tZb,OO0 x ll4= 990,000
polkry at lhe descrbed premlses would 'lf, ln thls'examda. t¡e
' havebeen $400,f)ü) actu4l amouttof loss's. . .'
The Colrsuranco Percenlage Days.l€() 94O,Ooo
b 50%
Days3tS0 -?0,m0
Tha Llmit of lnsurance is S200.000
Tho amounl of loss ls ' 3 80,(xX) D.a¡B 6l-90 ..Eg.a@'
s90.@0
The mlnlmum amannt of lnsu¡ance to meot ¡lour
ðo¡nsutan"e requirernent ls $200.000 Ql{,000 x ' Wowlllpay:
roXt. fn"r$re, lho Ltnlt of lnsuranca ln lhts Ex- . ..-..-.Days.1€0...-.' ,'-$80,000''
- ãrnoíe b'adequate'and'no'penalty'applles:'We will-
paúno mo,re ùan $80,cXn (amountof loss)'
'Da¡rs
3l€0 20,000
E. OPllonal Goverages Da¡¡s61-90 3O-æ0
lf shoì'vrt as appllcable h the Declarallons, lho fol- 980,fi)o

iourins oPt¡otiãl Goveragas apply separately to The rernafnhg t10,0(l! h nol correred.
eactr ltern.
3. Buslnese Incorns Agreed Value
a. Toac{Jvate thls Opl'xnal Govorage:
(1) A Bushess lnoome ReporlWork Sheet
nust be submltted to us and must shon
flnanclal data for ¡our "operatlmsl:
Page 6 of B @ ISO Properties lnc . 2001 cP00320402 tr

..
('¡
(a) the 12 montt¡$ølor to the date 4. Þctendsd PorlofuF tndemnltY
-' During
oflheWorkSheel;and Under Parograph 4.4.d.' Extended Buslness
lncom'e, lhe number
*30' ln Subparagraphs
lbì Esltrnated for the 12 months imme
'' dlatoly followlng lhe lnceptlon of lhls fl)(b) ind (2Xb) is replaæd by.t¡e number
OPtional Goverage. Àtiown ¡n tñi Óeclaratlons for ttrls Optlona!
Oovorage.
. f2) Ths Dsd¿iratlons must îndhale lhat lhe
' Businass lncomo Agreed Valua Optlonal F. Dellnttiona '
Gqverage appths, and an Agreed V3!!¡e 1, 'Flnlshed Stock" meãls stock you have
must bõ shðwn in lhe Declarattbns' The manufactured.
reuc-sfroo ld¡bs-aHeasFeeua
to: coh"li,r-;roduct" belng aged, unless tírere ls a
la)' The Coinsurance porcenl ge- shown Co¡nsurånce percer¡tãge shoun for Business
F¡ the Declarations; niultlplled by tncome in thebedaratlóm'
lbì Th6 amount of Net lncoma and oP 'Flnlshed stock" does not lndude stock ¡ou
oratlng expenses for lhe followlng 12 have manufactured lhat ls held lor sale on lhe
monürs You rePort on the Work premlsec oÍ any retall oullet Frsured under thls
SheeL Coverage Parl.
b- The Add¡¡tlonal Gondllion, Colnsuranca, ls 2. "Operalions'meâns:
suspended untll: a. Your buslnaçs ao'tlvlties occuning at the
(1) 12 monlhs after lho effuctve date of thls described premlses¡ and
Oplional Goverage; or b. The lenantabllity of lhe descrihed premises.
(2) Tha expirallon dato of thls pollcy; if corerage 6r Br¡stress lnco¡ne hcludlng
fret
whlcherrer ocalrs 'Rontgl Value' or'Reilal Value' appllas.
q. We will Þlnsbte lhe Addiüonâl Condilion, 3. "Perlod of Resloralion".'fneans lhe perlod of
Colr¡slranco, automalhaþ lf you do not llrne lhal
subnit a new Work Sheet and Agreed a. Beglns 72 hourc affer lhe üme of direct
Value: physir:al loss or darnage caused þy or re'
flì Wilhln 12 n¡onlhs of lhe efiedlve date of lulüng troûl any @ered Cause of Loss at
lhis OPtlonal Coverage; or the described prembes; and
f2)' When yor¡ requost a choge in )our b. Ends on{f¡e earlferoli

' Buslneis lnoome Llnnit of lnswanca. (1) when the ¡roperty al the. de'
-.- The datepremtsos should bs repalred,
d. lf the S'r¡slness tncorne Umlt of lmurance ls scdbed
:' ¡or" lhan the ACfeed Value, ws wli no-t9ay rebullt or repfaced uíth reæonablo
mols of any loas üran Ûre amount of locs speed and sfmllar qualitY or
muþllsd bY. (z) The dale whsn bushoss ls ras-umed at a
ll) The Bræinoss lncome'Ltrn[ of lnsur- . newPermanentlocatlon.
Ðae; dlvHed bY ?erlod of reotoralion'does nol indudo any In-
(2) TheAqrqedV¿lue- creased .porlod requled. dpe tg the enfotco-
marrtof anY ordha¡ce o¡þ¡rthat:
Þramplo , ll)'
Re¡urlates ttuj cinsbr¡cüon usa or rÞ'
paÉ, or rcqulrei tha toartrg dol¡rn of any
When: Tt¡e L[nltof lnsura¡rce's $r00,000
Propert)ñ or
Ths Agreed Value ls $2û),000
12ì ReouÞes anv lnsured or olhers lo t86l -
S 8o,ooo
. .- .., .J¡?-qllgql!9f-!e.e:.Þ- -. ---' --ì'-L'
Í6i:hiin¡¡6r;?æiñ''Ð;-'Ëniöf6' iÐnÉîr;''
Steþ (a): $100,00o+$2O0,000 = '50 ûraat. døto:dfy or nanlrallzo, or In an¡¿
Stap (b): .50 x $8O,ü)0 = $40,000 way raspørd to, or assdss lhe effods of
'Pollubnls'.
wo will Pài$o,ooo. rne rernainlng The s¡çimüon date of ürls poliry will not aI
$40,000. fs not co\iûed. short hb ?e¡¡od of resloraflon'.
cP 00 32 04 02 @ ISO Properties. lnc.. 2001 Page 7 of I Ð

i
4. "Pollutanl*" tttn" any soltd, rto'å, g"*tou' 6.'suspenslon' ma*àIls:
.lharmal lrrftant or conftamínanl, lncludng' a. The stowdown or cossatlon of your busÞ
smoke, vapor. sooÇ fumes. alkalfs' ness actlvities; or
-árd -aqids.
ãiiãrnËap waste.'Wast¡c includes materials b. That a part or all of the descrlbed premises
ió ue req¡rec, roconditioned or reclaimed' ls rend'ered untenantable, ff coverage fur
5. 'Rental Value" fnaans Buslness lncoms lhat Br¡slnees lncorne including 'Rsnbl Value"
consisÌs of: or "Rental Value' aPPlies. .
a. Net lncorne (Net Poflt or Loss bofo¡e ln-

corlrs t+e^ç) lhat w9r¡l{ have been eamed
ÞHncorlrfrorrnensn
o"cuoancy of lhe premises descrlbed in the
-----õ-Eæii6ãra
óe"fårauon" as ftirnbhsd and equlpped.-by
wu. lncludins falr rontat value olany Portiol
äiti" whitoh is occuPlad
premlsos whioh
of the aescr¡¡ed premlses occupled
byyou; ano
b. Conttrufng normal operating. expsnses
hcuned in connecüon r¡ilth that prom¡ses'
hduding:
(l) PaYoll; and
12) The.amounl of chargos wTrlch are the
'-' legal obtþallon of the tonant(s) but
wõuH otherulse be your obllgalions'
cP 00 32 04 02 D
Page I of I Þ ISO Progerlies. lnc.. 2001
(6) Mectranlcal breakdowù-rrcludlng.-rup- (2) Whelher'õr'.not occurring durlng lhe

luro or burstlng caused Uy c.enirifugal hours of employment.
force. But f mect¡anícal breakdown re' This exclusion doss not apply to acts of de^
sults in devator c¡llisbn' we wlll.Pay for skucl¡bn by your emplóyees (lnoludlng
lhe loss or damage caused by lhat ele' based empioyeesl but ineh Uy employees
r¡ator collision. (¡rdudíng leased emþyees) ls not corr-
personal
(7) Tho followlng causes of loss lo ered'
propatt¡¡ t. Volwrtary parlÍng ï/ilh âny property by you
(a)oampnassordrynessofalrnos.oraf¡yoneelsato9om.y.o]FY:."T3"]:9.
- -- " j-p¡ersf - ' '- to ¿q-.to ¡y any ".-
-lhe+çope4df-¡'wtt¡cert
scheme' trlck' devlce or false
{b) changos ln or oxùemes of lempera- Iaudulont
turg: or
Prelense'
(c) Manlngorscra(chins- I
f;1t*ilåi:lceorslsottopersonalproperty
ili:J:jilfã:(ö'Ti,ü,ii{lffir.äli
cause of loss' or bultdino glâss
" îåXffiï¿ "ä#,.i"0Í31''3j."i"3î $,,"ï,
]spoglfled dam' ;ãÈ;i*;lf*ln ã Coverad Cduse of Loss
î'ihffi;#;ä';..¡";;--r* *¡n oav fot
breakage, we Mll pay for lhg loss or
"su."'""dîyùi;iËo*lø*ùå,iri#'J:
or bultdhg glass breakage.
il"TJï"jHråHF:i ff,r:i.åitg
Cot¡se of Lose.
e. Explosion of sleam boilorsr - steam plpes,
or sl6a¡n t¡rblnes omed or l, Disclrarge, dlspersal, seepage' mþralion'
stiam englnes releaso-or escape of 'pollulants'unless tre
leased by 1oU or operalad under your-con- dlsclørge. dlsperoal, seoPage. migrallon,
trol. But if oxplælon of eteam bollers' steam rsleaso or oscdrpe ls ltsslf caused by any of
plpes, steanr- englnes or stoarn ü¡rblnes re' lhs 'soecified cãuses of loss". Bt¡t lf lhe dls'
ãün" ín f,ro or combustlon oxplosion, we will chargä. dtsporsat, Eesptgs¡ mþrallon, re'
oav for lt¡e loss ø damage Gaused by that leasõ or esôaps of ?ollutants' results in a
itró or cornb¡sfion explosion We wlll also 'specifled ca¡ss of lûss', wo wlll pay fuq-the
oav for loss or darnago caused by or r+ toäs or darnsge caused by lhat'speclfled
buú¡ng frorn lþ orflo{ion ò! g"t* or tuel cause oflosg".
wühftifie fumace-of any Rred vessel or .
witrln lhe flues or Passagðt lhmugh wl¡lch Thts exolusion. 1., does not apply to damage
lhe gases of combus{lon Pass. to gÛass caused by chemlcals applled to lhe
gtass,
f. Cor¡llnuous or repeated seopage or leakage m. Neglect of an lnsurad b uso all reasonsble
óf water, or tn ¡riesenco or cor¡dsmallon of
humldtty. rnolshrra or vapor. lhat occurs msãns to save and preserve proporty from
over a Perlod of 14 daYs ormoro' furlher damage at and åfre¡ lho thno of loss.
o. Wator. olher liqulds, po*der or molten 3. We wlll not pay for læs or damqgg car.rced by
- mate,ri-a¡ ürat loalie or llo'trs frorn plumbing, or resüdng' from any of the folbwlng,'3-a'
hoatlng. ak condltÍonlrrg or olher equlprnent thror¡gt¡ 3.c. But if an excluded causs of loss
{excep:f fire proteclfue s¡otoms) caused by lhat ¡s lastsd h 3'a. lhrough 3¡. resuHs ln a
òrres-ult¡r¡g from freodng unless: Co¡ered Gause of Loss. we irll pay fø he loss
or damage caused by lhat Cwored Causo of
(l) You do your best ü¡ malntaln heât ln lhe
- Loos.
buldlng orshwluro; or
a. Wealhen condlllons. But lhls exclusfon only
f2) You draln he equlpment ar¡d shut off lhe if wsalher cor¡dtllons corttìbute ln
'' sr.rppV tf lhe hoai ts notrnalnüalned.
applloo
ot evont.o<cludsd ln
aÚ .way .wllh .a .çauso'
' ' Ë' "itlsiìdia,;t t ¡tiäii:täl'åa bi tci¡' ãïj' of vöüi ' "'
Pa-ragÌr¡ph l. above to produce lhe loes or
oarlners. mornbôrs. olfictrs, mâmgpfs' darnagp.
bmotoYebs (h¡duding teased employoes), b. Aôts or declslons, lnctudhg lhe fiallure to acl
OreAós. Ftlsleos, authorf¿ed mpresen!*' or decide, of any.personr group, orgsnlza'
tives or anyono.to wf¡om you enlrust the tinn or govørunental bodY.
properþ for anY Purposc:
(1) Acüng alone or h'ooluslon wllh olhers;
or
Cp tal l') 1ì{ î? " lÇ-. P'¡;;.e;(i¿t ir: i:rt1' oaÐc 1

^f I
c. Fault¡ inadequate or¿**"L"'l (b)

- Suspeì¡síon, lapse or sancellatlon of
any llcehse, lsase or conhact. But if
. (1) Plannlng, zøting' devetoPment' sufvey- lhe suspenslon, lapso or cancellatlon
ing, sltlng: is dkeclly caused by lhe 'suspen-
(2) .sion' of 'operation*, we will cover
' ' Oeslgn, specificallons, workrnanshþ.
repair, conólruction, renoval¡on, rerno& srrch loss ll¡at affects your Buslness
ellng. grading, comPacllon; lncome durlng lhe þeriod of restora'
(3)
-- Malerials used hrepair. construotlon, .llon" and any oxtenslm of lhe'per'lod
of restorallon" ln accordance wiÜr the
re¡iovatlon or remodellng; or
lsfins of the Þtlended Buslness ln-
e-Addltional-€ewrage-andJhe *..-
of part or al of any property on or off lhs Exlended Period Of lndernnity Op
promises.
Oeöcrifø lional Coveragà or any varlalion of
these'
4, SPeclat E¡<ctuslons
-t4Hislntenan
The folk¡¡l¡rs provlstons apply on¡y to lhe (5) fuiy Exlra Exparse caused by or resutt-
lng from suspenslor¡ lapso or cancolla-
speciñed Coverage Forms.
a- Busrnass rncome_(And Errn Expense)
lncorno i:Îr"ilpffi;åi;T"iifrthact
be-
Goveragc Fonn, Buslness

' M¡rhour ËJä'É;p"^*i rorm,
ô,;veiige (s)
l
Ar¡y other consequenüal loss-
òr E¡<tra Expense Coverage Form b. Loasehold lntorest Govetago Form
Wo will not PaY [or: (l)
-- Parasraph B,l.a. Odlnancs Or Law.
doas not apply lo insurar¡ce under lhþ
fit
'' Æry loss ca¡sed dlrecty or lndlrectly by
Coverage Form.
lhi falture of poÌv€r or olher ulilþ serv-
¡ç6 s¡pplled lo lhe das&ibed prombes, (2) Wo will not pay for any loss caused by:
howover caused, lf lhe Palure occurs (a) Your cancellkrg lhe lease;
outçHe of a coverod bulldlng. Failure lp
. cJudes laclr of sulliolent capacity and re'
(b) Th6 suspenslon, lapse or cancatla-
üon of any liconse; or
duction ln suPPlY.
But lf lhe failure of polor or other ulility {o) Ar¡y other consequsntial loss.
servica results În a Govered Gause of c. Legal Llâbil¡ly Coverage Form
Loss. wa w8l pay for lhE loss resulllng (ll The followlng atclusions do not appty to
from lhat Covored Gause ofloss- - .hsurance under lhls Goverage Form:
(2) Any toss causqd by or rezulting from:
{a) Paragraph B.l.a.' Ordlnancs Or Laur;
(a) Damago or deslruolir¡n of Ihlçhed (b) Paragraph B.l.c', Governrnental
sloclf¡ or Att¡on;
(b) The timo rogulred to reproduca 'Tlr> (c) Pangraph 8.1.d., Nuclear Haærd;
ishedstock'.
(d) Paragraph B.l.o., Ut¡llly Sen¡hes;
Thþ o<duston does nol apply lo Extra and'
Expense.
(e) Paragraph B'î.f., War And Mllltsry
13ì Anv læs caused by -oror result'¡ng
føn *lont
'' d¡rád ohrælcal loss damage to radlo
or f¡eütsbn anlennas (lncludlng sdellÌts
dishea) and therrieadln wlrlng, masls or
lowers,
.., ... (4) Any..lncrease.of lqss .caused by Qr.re:...
sultlng from:
(a) Delay ln.rebuldlng,.repalrlng or re-
' ' phc¡ñs ths ProPe¡tY or resumlng
loDenaüons", due lo lnlerfereriæ at
tttä local¡on of lhe rebrJldlng, rapair
or rePlacement bY sbikers or olher
pofsons; or
of 9 @ ISO Properties, lnc.. 200'l cP 10 30 04 02

Page '1
(2) The following addilional'#luslons apply c. The hlerior öt":vry bulldlng or stn¡ch¡re, or
' to tnsurance under lhb Coverage Form: lo personal property in the bulldi¡g or
structure, caused by or ra.sulting from raln,
(a) Gontractual LtabllitY snow, sleot. lce, sand or dust, whether
We will not defend anY clalm or driven by wtnd or nol, unless:
'suit', or PaY damages hat You are (l) The building or slruclure lsst sustalns
legalþ ttable to pay, solely by reason damage by a Covered Cause of Loss to
of your assumption of llability in a Its roof or walls lhrough whlch the ra¡n,
cor¡-bac't or agreement. But lhis ox-
sno,rr, sleet lce, sand or dust enters; or
clt¡slon doos not apply.to a wltten
liabilfty for bufldlng damage results from lhawlng of snow, sleet or ice
reçultng from an ach¡al or alternpted on lhe bullt$ng or structure.
burglary or robberY, Provided that: d. Bulldtng maþdals and supplles not atlached
0l Your assumptlon of llabllity was as part of üre building or slruclurq caused
--
o<eo¡ted prlor lo lhe accldenì; by or iesulllng from lhefr.
and However, thls lfmltatir¡n doos notappþto:
(¡l) Tho buildhg ls Covered Property ({l Buildíng matsrfals and supplles held for
under lhls Cwerage Form. sale by you. unless lhey are lnsured urr'
(b) NuctoarHazard derthe Bullders Risk Coverage Form; or
We will not deferd anY claim or (2) Buslness lncome coveragô or Exlra
'sulF, or PaY any darnagos. losg Expense coverage.
' expenso or oblþallon. resulting from

or ndlalion, or
o Property lhat ls mlsslng, where lhe only
nuclear reaclion evldor¡ce of lhe k¡ss or.darnage F a shorl-
radioaclivo conlamlnallon, ho\rever age dlsclosed on taklng lnve¡rlory, or olhor
caused. i¡tstances çrharo lhere ls no phyclcal evl'
C. Llmllallons denco to show whal happened to the prop-
erlY.
The fdlo¡¡lng lÛnilaltons apply to all pol¡cy Forms
and errdorsemenb' unlass olhenvíse slaled. f. Proparty ü¡at has been lransfened to a
perion or to a'plac-e outslde lho desølbed
1: We will ttot pay for loss of or damags to proP- þrembes on ths basls of unauthorlzed ln-
orty, as ¿ss&¡uø and llmlbd in thls sactlon ln slrucllons.
adäilion, we will not pay for any loss lhal is a
come,qtience of loss oi damage as discribed 2. Wo.vvill not pay for loss of or damaga to lhe
and limlted lnthls ssdlon. ttowt"ng types of propgrty ur¡less caused by
fhs "spicilled causes of loss'or buldlng glass
a, Steam boilers, steam pìpos, sleam engínes brêakage:
or slea¡n turblnes cat¡sed by or rasulllng
fiom anY condlüon or ovenl læHe such a. A¡irnals. and lhan only t lhey are killed or
equlpment" But we *l[ psy for loss of or b made necessary.
lho¡rdeslruct¡on
¿ám'age to srrch oqulpmont caused by- or b. Fragle artlcles such as statuary, mafbles,
reurluirg frorn an exÞlosbn o-¡ g?ses or ftrel cbin-aware and porcetalns, lf broken. Thls
wilhh úe lu¡rcræ ôf anY fred vessel or ' reslrlctlon does not aPPlYto:
wilhln tho fluos or pa$eages lhrough whlch (f) Glas$ or
lño gases of oombullon Pess.
(2) Conblners of properlyhold forsale.
b, flot water bolers or olher waler heallng
equlpment caused by or. resultíng- Qm any c. BuiHers' mactrlnery, tools attd eqrfpment
cdndiüon or evant lnslde such þ-tlers- or .. çrolç-d.þy ygl¡.pr,eñtrusted lo yot¡, plovided -.
" suclr property ls Coverod Proporty.
"qtpiiiäfä¡ñ.f-ut"narbxploslon""'
cP 10 30 04 02 @ ISO Properties, lnc., 2001 PageSofg tl

4. The coverage provitied under tr'¡s Limlted Gov- F. Additionat Coverai'c'Èxtonstons

' eraqe does noi lncrease lhe appllcable Limlt of l. Property ln Translt
Insüranca on any Covered Property, lf a par- Thls Extenslon applles onþ to your personal
ticular occunence resulls In loss or damage by property to which his form applies.
'frlngus', wet or dry rol or bgcterla, and- olher
loss-or damage, wó wÎll not pay moro. for lhe a. You may o<tend the lnsurance provided by
total of all loss or dsmage. üran lhe applicable trls Coverage Part to apply ø your personal
lJmil of l.nsurance on ll¡e affected Covsred property (olher than property ln lhe care,
Propefty. custody or conbol of your salespenons) in
tnansit-more lhan 100 feet from the de
Property, not caus€d by "frlngus', wet or.dry rot a motor vehlcle you o$rrìr tease or operate
or dactårta, loss paymàìt will not be llmited by whilo between polnls ln lhe coverage toni-
the terms of lhls Umlted Coverage, except lo
tory.
lhe ertent that Tung,rs", wet or dry rot or bacte
rla causes an lncrease fn lho loss. Any such in- b. Loss or damago musf be caused by or
croase in lbe toss wlll be eubiect lo lhe lerns of resutl fiom ono of lhe followhtg causas of
lhls Llmitei GoveragP. loss:
The lerms of this Limlled Coverage do not (l)- Fho, lþhtning, explosloo, windstorm or
lncrease or reducs lhe covorage provldod un- bail, rTot or civil commollon, or vandaþ
dsr Paraoraoh F.2. (Water Damage, Other Ll+ lsrn.
ulds. poúdrår or Mòlten MaÌerlal Damage) of (2) Vehkle collision, ,upsel or overturn.
lhis Causes Of Loss Fonn or under lhs Add¡- Colllslon moans accldenls¡ conlact of
lional Coveraga - Collapse. your vehicle wíth another vehide or ob'
The followlng, 6.a. or 6.b-, appllos only If Busl- Ject. lt does not mean your vehlcle's
nass k¡comé and/or Þtba Expensa aovorage crntactwllh lhe road bed.
apoltes to lhs descrlbed premlses and only if (3)' Theft of an onllre bate, case or packago
ttió 'srspensþn' of 'operalioDs* ¡sllsf¡es all by forced onlry lnto a secureþ locÌed
terms a¡id condilions of the applicable Busi- bodY or comPailment of lhs vehlcle.
ness'lnspms and/or Ext¡a Þçense covarâge Thare must be visiblo marks of he
fom. forced onlry.
a. lf tho loss whlct¡ resultsd ln'fungus", Wet or c. Ths most we will pay fior loss or damaga
drv rót or bacterla does not ln llself neces- under ltrls Extenslon ls $5,000.
s¡tate t "suspensþn"'of 'opefalions", but
Thls Coverage Extonslon le addltþnal lnsur-
.sucÙr 'suspeniion' ls necsssary due to loss
anco. Ths Addllional.Gondltlon. Cdnsurance,
or damagä to property caused by 'fungus",
does notappþ to tl¡ls E<lonslon.
wet or dry rot or bauterfa. lhen our-paymenl
under Bushess lncomo and/or Þ(ha Ex- 2. WaterDamage, OtherLlqulds, Powder Or
ponso b limlted to he amount ol loss and/or Molten flaterlal Damage
b¡oense suslalned ln a porlod of not moro lf loss or darna€e caused by or resulttng frqn
' thån 30 dalt. Tho days need not be con- oovered water of olher llquld, powder or molten
secrf¡ve. materlat damage lóss occurs, we wfl also pay
b. lf a cov€ted 'suÈpenslon' of 'operallons- lhe cost to lear out and raplace any part of the
was caused by loos or damage other lhan bulHhg or sl¡ucture ùo ropalr damage to the
'ñlngus', wet ði dry rot or bacterla but re- syetan or applfance from wftlcfi lhs r,t¡atsr or
mo.dat¡m of Tungus', ußt or dry rot or o-lher subslance escaPes. Thls Corerage B-
bacNerla prolongs lñe þerlod of resloralion', tenslon does nol lncrease the Limìt of lnsur-
wþ will òay for loss and/or exPense sus- . ..anoo.
talned dùins lhe dslay (ragardless of when 3. Glasg
sucl¡ a delay oca.ns durlng lhe leriod gt
rostomtÍon), br¡t suctr covoraqo ls limited to a. We wíl! pay for oçenÊes lncuned lo put up-
30 da¡B. Tnb days need nol öe consaculfue.
lemporaiy-plates or boad up openings if
repak or replacernent of damagod ghss ls
delayetl.
O^,,o 4 of Q
4. rô1 tì,1. -.aì=q In¡ ?nat 1 cD 11 jl Qt 0?
b. We will pay for exponéee 'lñcuned to re- (2) Sinklng dÌ-c'ol¡apso of tand into man-
move or'replace obslructions when repair- made underground cavilies.
' lng or replaäng glass lhat ls part of a build- b. Falllng obJects does not include loss or
hó. ffr¡s doe€ nol lnclude removing or re- damageto:
Plàcing wln dow disPhYs -
(1) Poreonal property ln lhe oPen; or
This Cor¡erqgo Extenslon, F.3., does not ln' (2) The lntorlor of a buildfng or sl¡uclure. or
crease the Limlt of lr¡surance- property Inslde a buildng or structure'
G. Deflnlllons unless lho roof or an outsldo ulall of the
including mold or mildew,-and anymycotox¡ns,

spores.-scents or byiroducts produced or re- c. Water demage means accidenlal dlscharge
leased bY fungl' or leakage oF walsr or steam as lhe dlred
2. "SDedfied Gauses of Loss' meåns tt¡e follow' result of the breaklng apart or cracklng of a
¡nd: Ftre: llghtning: explosion; wlndslorm or hafl; plumbÍrg, hoathrg, alr condltlonfng or other
srñoke; alrcraft or vehlcles; tiot or civil comlno- s¡/stem or appllanca (other lhan a sumP
[on; vãndatlsrn; teakage from lire extlnguishing system includlng lls related equlpment and
equipment; slnkhole ællapsa; volcanlc action; parts), lhat ls' localed on lhe desølbed
faÍirig ob¡eÆ-t6; welghl of sno/v, lco or sleel; þremises and conta¡hs waier or steam.
waùer damage.
a, Slnkhole collapse rneans þe sudden slnk-
lng or ællapée of land lnto urrderground
empty spaces created by fhe- aclbn of yçter
on i¡rñeétone or doþmito. Thb cause of loss
does not lnclude:
(1) The cosl of ñlllng skìLholas; or
r tq4 n.. ..r.r.; q In:- .r^^. r.¡.1q I of I

t.t ..ô n,l nt
Ô
1U-¡+õ-Uü-UU
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT GAREFULLY
EARTHSUAKE AND VOLGANIG ERUPTION

ENDORSEMENT
Th'ls endorsoment modinos insufzl¡ìce Provlded under the following:
COMMERCIAL PROPERTY COVERÀGE PART

STAI\¡DARD PROPERTY POLICY
A. Wtren thb endorsement ls attacl¡ed lo he All Eadhquake thocks or Volcanlc Eruplbns lhat
Standard Proper(y Pollcy. lhe tems Coverage ocq¡rwllhin any 168'har perlod wlll const¡lute a
Part and Covùage Form h lhis endorsernsnl aro slrrgle Earlhquake or Volcanlc Eruption' The
reptaced bY lhe term Pollcl. erytratton of trls polþ wllt not'reduco lhe 168-
hour Perlod.
B. This endorssmor¡t appllos Ùc lhe
Covored
Prooerty ond Goveragos for whict¡ an Earlhquake D. Excluslons, Llmltattons And Rslatad Provlslong
- Volcairic Eruptþn L|nlt of lnsuranca ls shown l. The Exchßlons and Llmltalion(s) sectbns of lhe
in Ûre Earlhquake -Volcanlc Erupfnn Goverago Causes of Loss Form (and the Exduslons
Sctredulo orln the Dedaral¡ons- secllon of the Mortgageholdors Enors and
C. Àddltlonal Govsred G¡u¡es Of Loss Omissþns Covarage Form and tho Sldndard
Property Pol¡cy) apply to oov€ftige provlded
L The fuIo,vhg ars added to he Covored wr¿'er thts endôrssrneñt, e:<cept as provided ln
Causes ofloss: o¿. and D.3. bdor.
a. Earlhquake. 2. To fhs axtont that lhe Earth Movornent E:<clusk¡n
' b. Votcanb Eruption' meanlng Ure erupl¡on, rnigtrt confllct wlth coverage provHod under h¡s
explosbn or eft¡slon of a volcano. endorsunent, lhe Ëa¡lh Movement F¡cluslon
' Atl Earthquake shocks or Volcanic Eruptlons doos nol applY.
lhat occui wilhln any 18&ñour penìbd wlll ln tha C¿uses of Loss'
3. The o<clusion ôf collapso,
consüùJt¡e a shglo Earlhquako or Volcar¡lc Spedal Form and Mortgagehotders Enors And
Erupllm. The ephallon o{ th's policywill mt O-mbslons Cwerage Form, does not apply to
reduco lhs 188{ror.¡r Par¡od. collapso catsed by Earthquake or Volcanlc
2. lÍ the Earlhquake - Volcanh Erupüon Erupllon.
Coverage Sclisdule or ll¡e Daclarallons 4, The Additlonat Goverago - Gollapse. ln lhe
lndhale üat thb endorsement oovers Gauses of l¡ss - Broad Form. Causes of Loss -
Earlhquake-Sprlnklar Leakage Only, lhen
the SDecbl Form and Mortgageñolders Enors And
Go¡erül Cauies of Loss ln Paragraph C.l. of C.üdsslons Covemge Form, does not epply to lhe
ü¡ls ordorsemenl do not appl¡ and the .oovgfago provided undet tttb or¡dorgernenü I.hls
follo¡lng aPPIY lndeaö: endorssment hcludes covenags' for cotrapse
caused by Ealhquake orVdcanlc Eruptlon'
a. Sprhkler Leakage resultlng frorn
, Earttrquaka. 5, We wlll not pay br loss or damago caused
b. Sprlnklen Lea&age raeullhg frøn VolcanÌc dtrec$y or lndbec-tty by lldaf^ wa\¡e or lsunaml,
eiupt m. Volcan¡c EruPliq means tre i
even atbibutsble to an Êarlhquake or Volcanic
eruúüon, oPloslon or eft¡slon of a Eruptlon.
volcano.
Çopyrlghl, lnsurance Servlces Oñlce, lnc.' f 998 Page I of 5

cP 10 45 08 99
6. We wlll not pay for loss or oamà1¡ä caused by The Earthquake -"volcanlo Eruptlon Coverago
or resultlng from any Earthquake or Volcanlc Schedulo or lhe Declaratlons provirCe infonnatlon
'Erupllon lhat begíns before lha incepllon of or¡ lhe Limlt of lnsuance appllcablo to Covered
this lnsurance. Properly and Coveragos for Earthquake -
Volcanic Eruplion.
7. The Ordinance Or Lar,r' F¡clusion ín thls
Coveraga Parl conllnues to applywllh respecl 2. Annual Aggregate Llmlt
to any lõss under thb Coveraga Part lncludìng Tha Llmlt of lnsurance for Earlhquake-Volcanlc
any loes under lhls endorsamont, unlesg Eruptlon fs an annr¡al aggregate llnit and as
Ordlnance Or Law Correrage ls added by such ls the most rrio wlfl pay for tlre total of afl
8. We wlll not pay lor loss of or damago lo Volcanlc in a 12-monlh pedd (startlng
exterbr ma¡onry veriðer (e¡<cept slucco) on wllh ü¡e of lha presenl annual policy
wood frame walls car.¡sed by or resultlng from period), even if
lhera ,s more than orìe
Earlhquake orVolcanîc Eruptlon. The value of Earlhquako or Volcanlc Buptlon dudng that
such veneer wlll not be lncluded in tho value pølod of llrne. Thus, if lho first Earlhq¡rake or
ol Covered Property or lhe amount of loss Volcanic Erupüon does nol exhausl lhe Limit of
when applylng lho ProPertY Damage lnsurance, lhen he balance of hat Ltn¡t ¡s
Deductlble appllcable to thls andorsemenl. available for a subsequent Earthquake{s) or
Volca4lc Erupllon(s),
Thls llmltaüon, D.8., does not apply iÊ
lf a sÌngle Earlhquake or Volcanlc Erupflon (as
a, Tho Earthquake -
Volcanlc Eruptlon
delinod in Secüon G. of thls endorsement)
Covorage Scl¡edulo or the Declarallons
beglna during one arnual pollcy perlod ar¡d ends
lndicate that the 'lncludirg Masonry during lhe following annual pollcy perlod, any
Veneef option apPlles; or Llmit of lnsurance appllcable lo lhe following
b. lsss llun l0% of the lotal oulslde wall annual pollcy po¡iod w{ll not apply lo such
ârea ls facad wth lnastxlry veneer Earlhquake or Volcanfc Erupllon.
(oxcludlng slucco).
3. lncreased Ar¡nual Aggregate Llmlt Optlon
9. Under lhis Govorage Parl, as set forlh under
lf lhe Earthquake - Volcanlc Eruptlon Coverage
Propefy Nol Covered ln he Coverage Form Sched¡¡le or lhs Dec-larallons lndfcale that lho
U whhf¡ hb endorsemenl ls atlachad. land ls
Inc¡sased A¡rnual Aggregata Llmlt Opüon
not ccruered properly, nor Is he cost of applle+ then lhe followlng applies lrstead of
el(ca\ra$ons, gradhg. bacldlling or filltrg. Paragraph F2. above:
Thereble, coverage undsr lhls endopement
does nol lndude lhe cæt of rastorlng or The Llmtt of lnsuranca for Ealhguake -Volcanlc
remedhting land. Erupllon Is lhe'most we wlll pay ln a slngle
Earthquake or Volcanlc Eruptlon (as dollned ln
E. No Gotñsurance Sectlon G. of lhis endorsement) for loss or
The Gotìsurance Conditlon ln thls pollcy,ll any, damage cawed by t¡o Earlhquake or Volcanic
doee not apply to he coverage provítled under Eruptlon. lf lhere ls more lhan one Earlhquake or
thls sndorsemenl. Volcanlc Erupllon ln a l2-monlh perlod (slarting
Varlous Goverago E¡denslor¡s, ln lhe Cove¡age wlh the beglnnlng of the present annual policy
Form to wtrlch-lhls ondorsemenl ls atlaohed, perlod). lhE most ws will pay for lha total of all
requlre colnsurancb. The colnsunance loss or damage $rsùa¡ned dutlng lhat pedod of
redukoment for sudl Cworage Êdens¡ons ls Ume and ca¡¡sed by Earltquake or Volcanic
ellmlnated with respec't to coverage provlded Eruptfon ls tttm tlmes the Ltmlt of lnsuranco.
under tlús endorsomenl .
lf â slngls Earthquake or Volcanlc Erupllon (as
F, Llmlt Of lneurance detlned ln Secllon C. of lhls endorsønent)
l. Gone¡at tnformatlon
' beg¡ns durlng onoannuat'polícyperlod and ends
durlng the foltowhg annual policy pedod, any
The tem Lfrnlt of lnsurance means tho Llmit Llrnit of .lnsurance agplicable to the following
of hsurance applkable to Earllquake - annual policy perlod will not apply to srch
Votcarrlc ErupÜon for lhe Govered Property or Earthquake or Votcanlc Eruption.
Core¡aqe under wtllch loss or damage is
sustalned.
Paga 2 of 5 Copyrlght, lnsurancs Servlces Otrlce. lnc.. 1998 cP104s0899 tr

4. Addttlonal Coverages And' Goverage Pavment for Fne ¿amåsó is $40O000 ($500'000
Extenslons damage capped at lhe diFerence botrr¡een the Baslc
Llmit ãnd h¡r'Éarthquake Lknlt)
Amounts payable under an Addltlonal
cãveraoo oi iotærage Extension, as set forth . Total Loss PaYment is $800,000.
-appllcoble Coverage Fotqt' !o qot
in lhe Þrample#2
lncrease ih'a Llrnlt of lnsurarce for Earlhquake The damage dm lo Earthguako is $800'o00'
-Volcanic EruPliorl'
Tho damago due to Firo fs $100,00O
Llmltatlon
that is Payment for Earlhquake damp1l^ ¡s
-$400.000
Blanket Limlt on Eann$leKe - volcanlc deduc-lible = Llmtt ls $400,000)
Erupt¡on (as shown ln lhe Earlhqake -
Volänb Èruptþn Goverage Scl¡edulo or ln Paymenl for Flre damage fs $100,000 (amount of
úrã Oáolarar¡öne), we wlll not p-ay morgr lhan damage)
we wou¡O pãy ln'tho absence of st¡clt Blanket Total Loss PaYment b $500,000.
Úmil- tärerooe, the mo<Jmun amounl G. Property Damago Deductlble
na,raUte for any such ltern of property or
ãoúoas" ls lhe'Llnlt of lnsurance or stated 1. The províslons of Sec{on A,2. ol lhis
vluÁ fäg shown tn a Statement of Valuss on endorsembnt are appllcable lo all Coverage
lito wiüì us) speclflc to üral ltorn of properly or Fmns excePt
íor'Covered Gauses of Loss ofher a. Bustness tncome (At¡d F¡l¡a E:<pense)
than Eãrürquake - Volcanio Eruptlon'
"ovemgu Covenage Forrn;
6. Ensulng Loss b. Buslness lncome (Wlthout Extra Exponse)
tf a Cause of Loss (sudr as fire) ls covored by Coverago Form;
me-*ç of an excepiion to lhe Earth Movement c. Exha ExPanse Coverage Forrn.
E:<cluslon, ln lhe'Gauses of Loss Form, we
2. The Deductlblq if any, ln this Govenage Part is
wflJso pây for lhe læg or damage caused.by rsdacod by the futloring with respect to
ittat ottrar'Cove¡ed Cause of LoEs' But the eàrhqualto and Volcanlc EruPtion:
wa w¡lt pay. for ths tolal of all losa or
"rost
ã"mãu causä by he Earllquako, Volcanlc a. All Pollcles
ftupUb and otheiGoverod Gauso of [oss, ls (f)
-' The Deductble por¿Þ¡qns apply to each
lhe'Umitof lnsurance appllcable b such olher EarlhquâkoorVoloanlc EruPtlon-
Cõve-red Cause of Losó. We will not pay lhe
sum of lho tv¡o LÍniùs. .- Separale
(2) Deductbles are calculated for,
anð apply to eaclr blllding,- personal
E:XAIIPLES - ENSUING LOSS property àt eacl¡ buitding and..qersonal
Tuo examples follow, uslng ttrese^fâs{s:..The br"ir"rli ln lhe open. Deduclibles aro
commorcial' Property Coverago Par[ ln theso äepara[elycalculated and applied svon lÊ
;ñbr. lndudäs ího Gauses of Loss - Baslc (a) Two or mora bulldttgs suslain bss or
rorrl-rwli¡on covârs llrÐ ãtd ürts Earthquake - damage;
Vãiänù:' Èrupuon Enddrsernent. { buil-dþg ls
õ;aoã ¡l'earthquaþ. and bv Flre wh$t ts (b)
' - Personal ProPêrtY ¡t two ry more
ca,i;-å- Ñ-the Eáürquake. The valus of tho bulldhgp sustalns loss or damags;
ãã*-isid '¡u¡td'ù\c ts û1,ooo,oo-0. The..Lknit or a¡d/or
nsüAca àppncoó¡e to lho bulldîng'.br-lhe Baslc (cl- A bulldlns a¡rd lhe pereonat propertyh
Caues of löås, b $800'000. The Umlt of-lnsurancê
' lhal building susliain lcss or damage,
forËarnquafe - vohar¡lc Eruptbn ls S400,000' Thê (3) We will not p?y- for loss.or damage t¡¡lil
Èarrtrqr¡ake Deducliblo amouril ls $5fl'Oül'
' ' the. amm¡nt-of loss or damage a,rceeds
Exdni¡ilo Jf lhe appllcablo Daduct¡blo. Ws wlll Û¡en
pay d¡ô amount of loss or darnago ln
The damage dueto Earlhquake ls $500'000' of tlrat oedüctlble; up to lhe
äxóass
Tlre damago due to Flre ls $600,000' appllcable Umlt of lnst¡rancs.
Paymont tor
Earfrquake ¿qqpq9^ls-$4ü)'@0
iSrín.ooO damagp minus $50,000 Eailhquake
à"o-rrJri¡n = $450.000; Lirnl ìs 9400'000)
Copyrþh! tnsurance Sewìcas Ofiice, lnc.. 1998 Page 3 of 5 E

cP 10 45 08 99
(4)- When property ls coveÈô under lhe However:

' Goveraþ Êxlension for NewlY (a) lf the rnost recent Report olValues shows
Acr¡uhed or Conslructed Propert¡¡ ln lass lhan the fufl valus of the propsrty on
detorminlng lhe amounl, lf any, lhat we lha report dales, wo wlll determlno the
wlll pay for loss or damage, t¡ve will deductble amount as a percentago of lhe
deductan amounl oqual to
a fu[ value as of lhe report dates.
percentago of the r¡¿lus of the property
ât üme of loss. The aPPlícablo þ) lf lhe first Report of Values ls not flled with
percÊnlage for Nowly Agquhed or us prlof b loss or damage, we wllt
ôonsùucted Froperty ts lhe hþhest delermlne lhe deductÉle amount as a
reoenl Stalement of Vatues on fllo with us.

Votcanic Erupllon Coverage Schedule
or in tho Dedarallons forany descrlbed c. Calculaüon Of The Deductibls - Blankst
premlseo. lnsuranca OtherThan Bulldors Fl¡lc
(Ð
- ¡ftlere ls loss or damage czused by (l) Propàrty Not Subfect To Value
Earlhquaka or Volcanlc Eruplion, and Reportlng Forms
loss or damage caúsed bY a Cause of ln detomlnlng lhe amount, lf an¡ that we
Loss (e.9., llre)llul b covered bY will pay for loss or damagå, we wll deduo.t
maarltt of en o<ceptlon to lhe Earth an amot¡nt equal to a percentago (as
Movement Érduslon, thon the onlY sltown h
lhe Earlhqualce Volcanlc -
applicable Deduclible provlslons aro
lhose stated ln thls endoresmenl'
Erupllon Coverage Scfiedule or ü¡e h
Doclarallons, concorníng lhe Earthquake
b. Calculatlon Of The Deducllbls- Volcsrlc Êruptlon Deduc{lble) of tho
-
value of lhe property that has sustahed
Specfllc lnsut?nce Other Than Bu¡lderç
Rlsk loss or damage. Tho rralue to bo used ¡B
(l) Proporty Not Subfect To Value lh¿l showì ln tho most recent Slalemont
of Values on fils wlth us.
Reporllng Forms
lln amounl. lf an¡ lhat (2) Prcperty Subfect To Value Reporllng
ln delsrmlnfng
Forms
we wtll pay for loss or damago, we wlll
dedt¡ct an amounl equal to a ln deleminhg lhe amount, lf any, llrat we
percentage (ae shoùrn ln he wiû pay for proporty lhat l¡as sr¡slahed
Êarttrqt¡ate Volcanlc EruPtlon loss or damago, we will doduct an amou¡t
Cove¡àge Súedule or in he egual lo a porcentage (as slnwn fn tho
Doc{araÛons, oorrcernlng ' lhe Eailhquake -.Votcanlc Êruptlon Coverago
Eartrquake Volcar¡h EruPtlon Sctredule' or Ur lhô Declaratlons,
Deúldbb) of tho value of lho proporty concernlng the Earlhquake -
Volcanic
lhal has sustalned loss or damage. The Eruptlon Daduclibta) of lho volue of that
value to bs t¡sed ls that shorn h tho proper$ as of he llme of loss or damage.
mæt re¡ent$tatement of Valuoc on lle d. Galculatlon Oitho Deducllble - Bullders
wlÛt us. RlsÌ lnsuranco
(2) Property SubJectTo Value Reportlng (l) Bultderc Rlsk OtherThan Reportlng
Foflns Form
ln doletmlnhg lhe amornt, if an¡ that h detemhlng lhe amounl, lf an¡ lhal we
wo wilt pay for toss or datnage' wo wlll wlll pay for prçaty lhal has susùaìn€d
deduct an anounl equal to a ' loss or darnage; r,tre wlll deducn an a¡nounl
porcentage (ag shown ltr tàe egual to 6 pefcentäge (as sttovm ln the
. Ib.rlh.quake Volcanlc EruPtlotr . .Eølhquaks -'Volænlc Erupllon Corerage
Govemge Scheduls. or ln lhe Sct¡edule or ln lhe 'Dedaraüons,
Dodan¡tloDs, concemlng lhe concemlng lhe EarlÌrguaks -
Volcar¡Íc
Earthquake Volcanla Eruplbn E¡t¡pllon Deducllble) of lhe acù¡d cash
DodudüUe) of ú¡e value of tre prçerty vah¡e of that property as of lhe tlme of
Itpt has sustalnod loss or darnago- The . loss ordamage.
value to bo used is he lalest value
shown in lhe mosl rscsnl Roport of
Valües on lils wllh ue.
Page 4 of 5 Copyrighl, lnsurance Services Oñico. lnc., 1998 cP 1045 08 99 tr

(2) Bulldors Rlsk RePortlng*Êorm For thls exampte, assì¡n'e {hat the amounls of loss
do not exceed lhe applfcable Llmlts of Insurance (for
ln delermining the amount lf any, lhat specllic lnsuranco). Also assume lhat tlre tolal
we will paY for loss or damage, we wtrl amount of loss does not excsod tho applÌcable
deduct an amounl equal to a blanket Limll of lnsuranca (for blanket insuance).
Derconlage (as
shown ln the
Ëarthquatce Volcadc EruPllon Buildtng #l and Businoss Pe¡Èonal Property at
coveràge Sc-lredule . or ln lhe Bullrtlné #1 have subtalnèd damage; the amounts of
Declarallons, concemlng lhe loss are $gg,0oo (Buildlng) and $5,000 (Buslness
Earthquake Volcanlc EruPtlon Personal Pmperty).
thal has sustslncd loss or darnaga. The

Buildlng
valuo to be used ls tho actual cash
vatue shown ln lhe mosl recent Report step (r): $s00,000 x lo9( = $50,00o
of Values on lllewlth us. slep (2): $95,000 - $5o,oo0 = $45,000
Hot¡'rgver: Buslness Personal ProPertY
(a) the most recent Reporl of Values
' lfshows less than lho actual cash
step (1): $250,000 x 1096 = $25.000
r¿aluo of he ProPôrtY on lho roPorl The loss, $S,OOO, does nol excoed t¡e deduclblo.
date, wô w¡ll detarmine lhe The most we will pay ls $45.000. The rernaìnder of
deductibto smount ss a Porcenl,age üra bultdlng !oss, $50,000, ls not coverod duo to
of the aotual cæh valua as of lhe appllcallon of lhe Deducllbls. Thore ls no loss
rePort dato. paymant for lhe buslness personal ptoporty.
(b) lf ltla fi'rst Repod of Values ls nol l. Buslness lncome And Edra E:tpensa Po¡lod Of
' ' filsd Yrlith tts Prlor to loss or Restoratlon
. damago, we wlll determhe lhe Thls Sectlon. 1., is applicablo only lo üre Coverage
deduc-thle amounl as a Percenlage Forms sPeclfled below:
of lhe aclual cash value of lhs
pmpertY as of lho time of'loss or l. Buslness lncome (And Bdra Expense) Coverage
damage. Form;
H. Example - Applloatlon Of DaductÞlo ln 2. Buslness Jncome (Wttlpt¡t Þ<Ùa Þ<pense)

G.2.birt ¡nd ê.2.c'(r) - For Speclllc or Goverage Form;
glantót-hsurancE Othsr Than Bulldors Rlsk 3. Exl¡a Þpense Coverage Form.
(Not Sublect To Value Reportlng Forms) The 'þelod of mstonallon" deflnìllon'st¡ated h lhê
The rralues, as shown ln lhe mosl recenl Covelãge Fonn, or h any endorsement arnendlng
Statementof Values on lile with us. €¡r0: the beghnhg of lhe þêrlod of restoratlon", appllæ
Buildlng #1 S50O,00O to each Earthquako or Volcanic Erupllon. A slngle
Eartrquake oi Volcanlc Erupllon is deflned in
Bulldlng f2 S600,t¡{,O Soctlon G. of ütls endorssment.
Business Personal Property at Bulldlng fl
$250,000
Businsss Personal Property at Bulldhg #2
$250,00o
cP 10 45 08 99 Copyrlghl, lnsuranco Services oñrce, lnc', 1998 Page 5 of 5 u

OMMERGIAL PROPERTY
cP 10 65 10 00
THIS ENDORSEMËNT GHANGES THE POLIGY. PLEASE READ IT CAREFULLY.
FLOOD COVERAGE ENDORSEMENT
lf Mrsurancrprovldeùunder{hefelowln
-TnF:ñalörsem'enffi
COMM ERCIAL PROPERTY COVEFÂGE PART
À When lhls sndorsement is altact¡sd to llie 3. To the extent that a tsunami causes the overflow
Standard Properly Pollcy, lho terrns Coverage of tldal walers, lhe excluslon of earlhquake, in
Pad and Covórage Form ln thls endorsement are the Earlh Movement Þ<duslon, does not apply'
rePlaced bY ttre term PollcY. 4. The Ordlnar¡co Or Law Excluslon in his
. B.
- - Ttt¡s endorss¡nent applles lo the Coverod Covarage Parl conünues to apply wilh respect lo
pióoeÍv and Coveragéi for wt¡ìch a Flood Llmlt any losé under lhis Coverago Part lncltrdlng any
of ínsu-rarce b shown ln lha Flood Coverage loss under lhls endorsernent, unless Ordtnance
Schedute or ln lhe Declarallons. Or Lnr Coverage ls added by endorsernent-
G. Addltlonal Goversd Gausa Of Loss 5. Tho folo¡¿lng excluslons and limitallons a¡e
added and apply to covorago under lhls
The followíng Is added to lhe covôred Causes Of endorsemenl:
Loss:
a. We wlll not pay for any toss o1. dap9¡g
Flood, moanhg a genoral and te.qporary-
caused by or-resultlng from any Flood hat
of parttal or-conrplele lnundatbn of beglns bófore or wiÜrln 72 t¡ours añer lhe
normally dry land areas due lo:
"on¿ii¡on lncaotlon date of thls endorsement. lf ¡ou
1. The ovellow of lnla¡rd or üdalwalers: räqüsst srù we provlde an høease ln the
'lnsuranca
strite¿ t-lmit of ior Flogd, lho
2. The unusual or rapid acanu¡lallon or runofi of hcrease wlt not apply to loss ø darnage from
surface waters from enY source; or
any Flood lhat beglns beforo or withln 72
3.
- Mudslldes or mudllors whlctr are caused by hoirns afler Your reguest uæs made.
fl"odf"S as deffned ln C¿. above' For lha lf lhe Flood ls dtre to lhs overflo$, of lnland or
purPose of ürls Cowred Cause.Of Loss, a
lidal walers, then lho Flood ls consldored to
Lruüsilda or mudflow hrrolves a *ver of llquld
ãn¿ lov¡r¡g mud on lhe surfiace of normally
begh when tho water lïrst ovêrflows lts
banks.
dry hnd aieas as when earlh ls canied by.a
of wator and deposlbd aþng ths palh for loss or damage causod by
b- We wtrt not pay-tom
"uirent
of lhecursril or resutÛn! destabllÞation of þnd
arlsìrng fom ne accurnulalbn of watar ln
All floodlng ln a cor¡lfnuous or þmlracted event subzurface land areas.
wÜt constlülte a slngle llood'
D. Exctuslons, UmlÞllons And Related
Provlslons
t.'- rr¡e Þ<cluslons aná umilaüori(s) iöôtióhs ót
tte C"rse" Of Loss Fom (and the Excluslons
sectíon of lhe Morþageholders Êrors And
ombi¡ons Coverage form and lhô Slandard
Propeûy Potþy) apply to æverago prwlded
uno'àr tt¡lg endi¡ise-meilt except ar provlded in
D.2. and D.3. bolow'
2. To the extont thal a part of lhe Waler
Excluslon mlght conlllct wllh coveÉge
otw¡¿uc un¿eithfs endorsemonl, t¡at part of
ihe Water Excluslon does not aPPþ'
c. Under lhfs Covorage paÛÉs sel forth f. We wilt not pây'lol loss or darnage caused by
undsr PropertY Not Covered ln lhe sewer back-up or overllow unless such back-
. Coverage Form lo t¡/hlch thts endorsemenl up or overllow resulls ho¡n Flood and occurs
ls atlached, land io nol covered proporty. withln 72 hours afler the flood recedes.
¡ror is lhe cost of excavaüons, gradlng,
'backñllÌng E. Add¡tlonal Goverages And Goverage Extensfons
or filllng. Therefore, sovsrage L Wllh respect to Flood Coverage. the Debrls
under {hb' er¡dorsement does not lnclude
lhe cost of restorhg or rernedíallng land
Rernovat Additional Govorage (and any
addlüonal lfmlt for Dehis Removal under a Limlt
ú¡e to he collapse or sinklng of land Of lnsurance dause or an endorsemørt) ls not
caused by ot resultlng from Flood'
. endorsement includes damage lo lhe DEBRTS REITIOVAL
'persomlofproporty,
covered port'lons lhe bulldlng and lo a. We wlll pay your exponse to removs debris of
cowred caused by , Covered Properly and othor dobds that ls on
cullapso or slnklng of land along lhe shore lhe descllbed premises, when sucJt debds b
of a body of tvalor as ll¡e ¡esult of erosloo caused by or results ftom Flood. Howsvsr,
or ur¡derminlng causad bY waves or we wlll not pay ùo remove deposils of mud or
. cunenls of water whlch exceed lho cycllcal earlh from the grounds of lha descrlbed
lsvete and cause Flood. premises.
d. We do nol covsr loss or damags by Flood b, l/l/a wlll also pay lhe €xpenso lo remoæ
to personal property ht tho open except to dobris of Covered Propotty that has lloated or
lhe sxtsnt úat sudr oovefttge. if any, ls been húrled off the described promlses by
specifiod ln lhe Flood Coverage Schedule Flood.
orh lhe Declarallons.
o. Thls ooverage for Debds Rermval, as sel
e. Proportv Not Govered, ln tlre Coverage forlh ln E.l.a. and E-i.b. above does not
Forin io whlcl¡ lhts endorsernent ls lncrease lhe apptlcabto Llmll of lnsurar¡ce for
attactred, ts amendod and supplemented Flood. Thareforg lhe moslwe.wlll payfor lhe
as follouæ wlth respocl to Rood Coverage: tolal of debrls romor¿l and loss or damage to
Itì
' ' Prooertv Not Cove¡ad hcludas any Covered Propsrty Is lhe Llmil of lnst¡rance for
bu¡ùhfi or other property lhat þ not Flood that apPlles lo lhe Cowred Properly at
- elioible for llood hsurance purcuanl lo lhe afecled dessibad premlses covered
lhõ provlstons of the Coastal Banier under this endorsemsnt.
Resóürces Act 16 U.S.C. 3501 at aeq. 2. Wlh respect to Flood @verage, lhe Covelage
ar¡d tho Goashl Banter lmProoment Eúenslon for Newly Acquírod or Gonst¡ucted
Actof 1990, Pub. L- 101'õ91,'to Property Is anrended by addlng Ün followlng:
U.S.C.35{llstseç Wth rcsp€ct to Flood Govoragq
a. thls
(2) Properly Not Covered fncludes boat Coverago Édension does not apply to any
' ' ho¡ees-and op€n slruGturos, and any bufidhg'or slruclurs lhst b not fully enclosed
properly ln or on the foregoirng. lf the bywalls and rcol
ätnictu¡à is located on or over a body
'of
water.
b. Wlth respect to É bultdlng or slrucfure
covered ún¿er t¡tç Covsr.ago E¡<tonslon, lhe
ß) pllings, plers, wharvos'
' ' tf bulkheads,
docls, or retahlng r,valle that are not
amounls of covorago staled h lhe Co¡srago
F¡dens¡on do not apply to Flood Coverage.
psrt of a bulldlng. have boen temoved lnstea{ lhe ¡¡rosl ¡r¡e wll pay for all loss or
iiorn Property Not Cowred and added damage to property covc¡ed under lhls
as Covâed ProPattY bY seParale Coverage Þ<tènsbn ¡s 10% of the total of all
endorsernent. lltls Flood Gwerage L'mlls of lnsurance for-Flood Coverage as
Erxlors¿ihéht do'ec not apply lo strch providod urder thls ondopomenL Such
PmPorty. ôowrage doas nol increass ü¡e' Limlt of
- - The bllowlng are r€¡noved
f4) frqn lnsurance for Flood,
PropsrtY Nol Covered and ars
. lharcforeCoverodProPerlY:
fal' Foundalfons below the lowosl
ì basement foor or lhe subsurface of
the ground; a¡td
(b) Undergrornd PtPes, llues and
drains.
3. with respect to any ,pptio'ne' Additional lf the L¡mlt of lnsurå'rrie and thø AnnualAggregate
Govorages und-cö.í"iã'ätenilons ln the amount are lhs same, or if lhere ls no arnounl
Coverage rorln io u,tr¡d thls endorsemänt b
-i¡rooó-aøressø slated as an Annual Aggregate, then the Llmll of
attached, onei'ùan in È.t. tnsurance ls the most we will pay for lhe tolal of.all
'and
EJ. un¿ui tu"t loss or darnagg lh?! ls c?llsçd by Floop ln Vl.z'
as set forth theroin,ão nôi
"Uo*,äåunrc'puy"uro
oher provlstons, monlh poriod-.(çbrtlng wlth..lhe baglnnlng of lhe
¡ncræse lhs "r"v"r'vv'F!
Uüi¡õi ¡ñiurance for Ftód. preseniannualþollqy Figd)' even lf lhere ls moro
F. Goinsuranco m."frîffifi:"ñ",fif#ii:gT"i$åili1,gof
l. the
The Cokrsunance Condltlon, if an$ ln appllcable L¡m[ of lnsurance, lhen lhe balance
coverage provlled-under lhls endorsemenl, lf a slnqle occurenco of Flood boglns dudng one
--:öU*Uiãjeot¿"rage-Form+pplles-loJha'------aiiþHmlþlsavaltablefepasubsequenlElood
unless-fnó No-Colnsurance opllon,-ln ll9 äiiiîËõ¡ãroðioo-ãnã"noiuudñgüefoüõwhg
ffi,x,nlií3$",H$TJl?"J:*iïL",,x: ffiHîx',"Bn"',o",Î:"lllr;'*x""åilffi,,iå
z. Varlous Govorage Exlensions. ln tho .annual pofcy per¡od wlll not apply to lhat Flood.
tr#'ffi:
coimur¿nco
iii'ågl*H#iiß"iË
tä"ptròî"ïà-¡r,i-r" "t¡ãn
ne
3' En-surngloss
In lhe evenl of covered ensulng loss, for example,
coinsurarce ,"írüäî*fiö'-etj"n óãvsrãgå toss. caused by Fhe, {plosbn and/o-r spñnkler
ellmlnabd.
Exlenslors [ç Leakage whlch resutts jrgm-tlrc Flood' the most
we vr¡[ pav. for lhe lotal of all loss or damage
G. Ltmlt of lnsuranco
1. Genemilnrormailon
of
#åË.ii flït"$í';tiäSåil"äri,,üiËi{
Rre. úé wil not pay lhe sum of lho Flre and Flood
Flood cove¡ago may be wrlden- al a .Llmlt
iÑut*c" ÛraÏÏ-õéuã or less than ho
r thnius'
ir¡'n¡t of hsurance whfch epplles to olher EXAI¡IPLES-ENSUINGLOSS
ff gi*,"Tl"Xî,3|Stli;län5BnÏ*"'Iffiffi tlãåîilË;ä1l',iff *H'oB:':ffiffiiili

for Flood ls shom.ln
The Urn¡t of lnsurance of Loss gaslc Form (wtrlch cgve¡s
Caússs - and lhls ll-re)
rË ã"ù Cãvárasa Schedule or ln .lhe Floó¿cove.ag" EndorsemenlA building ls damag-ed-by
ueda¡at¡ons. tf sud Umit ls not shown,then FiõóO ãn¿ uf Rre whldr ls caugd by_lhe Flooù fie
t¡ll_tmlt app[cablo to Flre also applies to valr¡eofhedsnagedbulldtng-ts$1,000,000.ThoLlmltof
Flood, ' lnsuanco applicabio to tho buldln-g, for lhe Basb Gausss
Aggregato óf loss, þ óóOO'OOO' The Llmlt of lnsurance br Ffood ts
2. Áppllcatton OlllmltAnd Fiood Deductlbþ anountls $5'000'
y::::::*
rhe Límlt or Insurance for'Ftood Is lhe most EKAÍi/IPLE #r
,irå-un¡ p"y¡n äãldiã of Flood for
by lho Flood. lf lhere The damage dr¡e to Flood ts $500,m0. The damago dtr
bil;'¡ri"ase caüsed"*.ri¡ence
ls mo¡s lhan one Flood in a l2'monlh per¡od to Flre ls S500.00O.
tr$"#ü#tpt"ffofryti*ifri'åäil'"1lffil.Ti,tl8.t3,ffiit"#"ffi:s'gg',$fff¿iffi
tlme øtd'gaused by :"--':--"
durlng that perhd
Ftood ts ttro ämount lhat ls ldenüñod a" U.ó Paymg!ìt p.r
Fqg--damagq is.$400,0o0 ($5p'!pg.daqq9"
eggröËi;-Eü. ã ll;h"um t ihô
A'rura¡
differencó between lho Basþ un¡lt and lhe
ca-ipg-at.ge
Flood cotãtuga Schedule or the Flood Lfnft)
Declarallons. Total [oss Payment ls $800,000.
EKAMPLE#2 However, lhis Prov'srdn 1.1. does not apply under

the followlng circumstances:
The damags due lo Flood ls $800,000. The damage
dueto F[e is $100,000. a. At lho time of loss, lho property ls eligible to
be wrltten under an NFIP policy but such
Payment for Flood damage ls $40Q000 ($800,000 pollcy ls not ln affect due solely to heligib¡rity
damage ¡nlnus $5,0(X) Flood eteductlble = S795O00;
Llmlt ls $400,000)
of lho property at lhe lime lhis Flood
Coverage Endorsement was written; or
Pâym€nt for Flre darnage ls $100,000 (amu.tnt of
damage)
b. An NFIP pollcy ls nol ln effect because we
have agreed to write lhls Flood Coverage
Noter These Examples are glven only to lllushate if

coverago. There is such an agreernent only
lhe sltuatlrn of flood and ensuíng loss. Thereforo. - lhe Flood Goverage Schedule or lhe
the loss pa¡anenl sfated for flood darnage does not ' Declarallons indicate lhal lhe Undedying
address lhe situat!¡n where anolher pollcy also lnsurar¡ce Walver apples.
covers ths flood damage. 2. lf lhere ls olher lnsurance covedng the loss,
H. Deductlble ollær lhan lhat describsd ln 1.1. abore, we wlll
l. The Deducllble for covaraga provlded under
pay our share of the loss. Ou share b the
proporlfon thal üre applhable Llmit of lnsurânce
hls endorsement is the Deducfibls appllcable under lhls ørdorsement boars to lhe lolal of the
lo Flood as shovm h lho Flood Covarage appllcable L¡mlts of lnstrance under all olher
$clredule or ln lhe Declarations. euch lnsuranco. But we wlll nol pay more lhan
2. We wlll not pay lhat parl of the loss lhat Is he appllcablo Limlt of lnsurance shted in th.e
atbibutable lo any Deductlb(s) ln the Flood Coverage Sùedule or lhe Declarallons of
Nadonal Flood lnsurance Progliam policy. üls Goverage Part.
3. tf Flood rest¡lts ln anothor Coversd Cause of
Loss and ¡f bolh Coverod Causes of Loss
cause loss or damagq lhen only the highor
deductlble appñes (e-9., lho Flood deductlblo
or lho Flre deductlble).
l. Otlrer ln¡urancs
The Olher lnsurance Commerclal Propedy
Condltlon ls roplaced by tre tullowlng wilh
respect lo the covenage provlded undor thls
endorsemenl:
l. lf the loes ts also covered under a Nallonal
Flood lnslrance Program (NFIP) pollry. or lt
lhe property b elbble to be w¡itten under an
NFIP potlry but there ls no suc*¡ pollcy ln
efÞct, lhen vre will pay only fûr lhe amot¡nt cf
bss in sxoess of tha maxfmum tlnüt ünt ca¡¡
be lnsured under thst pollcy. Thls pmvlslon
aoolies whelher or not lhe mÐdmum NFIP
lfniit was obtolned or malnlalned, and whelher
or not 1æu can collect on tho NFIP po¡lcy. We
wlll not undor any drcuRslancss¡ Pay mors
han the applirable Ll¡nlt of lnsuranca for
Flood .as sbted ln lho Flood Gororage
$chedule or the Declaratlons of lhls Covorage
Part.
THIS ENDORSEII.IENT CHANGES THE POLICY. PLEASË READ ¡T CAREFULLY.
OCCURRENCE LIMIT OF LIABILITY ENDORSEMENT
The following terms and conditlons wlllapply to this policy:
1. The amount of lnsurance shown on lhe face of this poliqr is an amount per
occurrence. ln no evenlwlll the liability of lhb Companyexcaed this arnount ln
any ono covered loss, disaster or casualty, irrespective of tho number of
locatÍons involved,
2.
' The premium for this poticy ls based upon lhe Sl¡afement of Values on tilÞ wilh
the Company. ln the event of covered loss, llability of the Company shall be
limited to the least of the following:
(a) the actualadjusted amount of covered loss, less appllcable deducllble(s[
(b) for covered loss sustained to any sBecilicallyscheduted ltem orelernent

of coverage, as scheduled ln lhe most cunent Statement of Values on flle
wlth the Company, 100% of the individually stated amount for eactr
lndlvldually sdreduled ltem or element of coverage, less appllcable
deduc{ibles. regardless of any referenco to Eury sum total amount of
specifically scheduled ltems or elements of coverage by locallon as may
be llsted or contalned in the Süatemenl of Values.
(c) the Llmit of Liability or amount of insunance shown on lhe face of lhis
pollcy,less applicable deduclibles (s). ,
All other tarms and condllions remaln unchanged.
All other terms and condltlons remaln unÔhangod. Aulhorlzod Representatlve
ACE0ô3 (0.il5)
-¡cY. PLEAsT Ëeao trcAREFULLY.
nsee3loS MATERIAL ENDORSEMENT
Thìs policy doos nol insure loss or expense resufllng from:
f,Tfuil_
@mmollon, smoko, vehide lmpacl, windstor¡n or hail, vandalism, målicious mìschlef, leakage or accldental discharge
frorn autornatlc ûre protectlve systerns;
Z. demolition or hc¡eased met of conslrucllon, repalr, debrls removal or lqss of use necossitated by the enforcement of
any law or ordinance regulating asbestos materlal;
3. any govemmenlal dlreclton or request declaring that asbestos malerial present ln or parl of or utilized oo âny
üntamaged porllon of lhe hsured's properly can no longer ba used for the purpose for which it was Íntended or
hstalled and must be removed or modlfled'
All other terms and condttlons remaln unchanged-
ACE061 (02-04)
Service of Suit Endorsement
lnformation
Dnrlorscrn€ût Numbcr:
Polþ $¡mbol: FS
PolioyNumbcr: D36054335 001
PolicyPcriod: asn4t200stó 08n412906
Effective datc of Endorsement: 08/2412005
Issuedþ: lgeste.hester Surplus l,ines Insurauce Company

(Nøc of hsurancc CoøgatY)
Thls E¡dorsenent ehanges tbe potlcy-Please re¡d ft careñtlly
rsuib"
Endorsement Informntíon about servicc of "suits' upon Us is given belorv. Seivicc ofproc€Ss Of
ag¡ainstus rnay be made upon the follorvingpøson, oranolhørperson Wc may dcsignate:
lnformation
Saverio Rocc4 Assistant General Cormsel

ACEUSA Companies
Two Liberty Plaae - Tl35M
1601 Cltcsùnut Stcct
Ptiladclphia,PA 19103
lbe person ¡amed above is authdized æ,d di¡ected to acccpt strvicc ofproccs¡ on our
be¡áf ¡n any action, r'guit" or proceeding instituted against us- Ifyou requcst, we will
g¡re you a rnittcn promisc tbat a gerreral appearance will be entcrcd ou or¡r bchalfif a
"srif isbrougþt,
Ifyou request, we will submit to theþi{s¡liction of uy court of coryetent jrrisdictign.

Urã wil t¡" final dcsision of 6at cou¡t ca any Àppcllate Court in the cwî¡t of a¡r
oppcal. "-"""pt
Thclarvs ofsomcjrrisdíctions of tlcUnitcd St¡tes of A¡uefica rcquirethatthc

Sr+crinændcnt Cbmnri"siooer orDi¡cotor oflnsruance (or their nrccessor in ofñce) be
designated as ou agent br'service ofprocess"
P¡g.j I ôfl
Endorsement lntormatlon In tbcsc juriedÍctions, wo dcsi¡pale lbc Dí¡ccto¡ of I¡su¡a¡cc ac our tuc and larvôrl attomcy upon
tcoNnNuEDf whoo ecrr¡lco ofproccrs olr our bafalfuaybe nadc- l[tc elso a¡l[orizc lhc Dircctor ofl¡sr¡rance to
roail procæs rcæivcd on our bctolf to tûc co,ryranypason nansd abovc-
If you rre r rcsJdø¡t of Ca¡aila, you oay elso sswe "suit' upon us by serviog ttre govenment ofEcial
dccigøtËal þ thÊ law of lour pmvbce.
NOTHTNG SERETN æNIATNED SIfÂtL BB HEID TO VÁRy, ALïE& ìVAIyE OR DÞ$ßND

AI.TIIOFTIIB TERMS, COND.rIIONS,ORLIMITAIIOI{S OFTTIEPOLICYTO }ITHICIIlHI¡¡
ENDORSBMEIÙÎ IS ÀTÎACHED OTIIERTHÄN ÀS ABOVE STATED.
'
ûlhorlerdRnÙtúr¡b¡tvc
PeçZofz
løaEB-|{D2O(4JDt)
.
NUGLEAR, CHEMIGAL.AND BIOLOGICAL EXCLUSIT¡N ENDORSEMENT
lbmsd fn¡¡rrsd
Gold Coaet Realty tnvostors
Fo¡rcyslrnDc¡ PO¡G)¡ NUlnOer rotÉTrenoo Er¡Þcrrya ug¡e or Enq¡enq¡¡
FS D36054335 001 08F24i2005 to 0812412oo6 oa24nÛ0ã
kgrcd Br0ls¡pof ¡n¡ûanc. company)
Westchesler Surplus Llnss ln¡urance Company
_. _ln¡¿rtthc¡gtov,n¡rmbor,,Th¡mrrdLù,{Eúñn€lbn¡¡lob€grßgeYon¡yr,lnnlhfçeodoß€mgrt¡sbstþds¡bsE¡E¡rllobapregorafm.oflhopolcy._ __
THIS ENDORSEIìJIENT CHANGES YOUR POL¡CY, PLEASE READ IT GAREFULLY.
Thls Endorsement modlfles lnsurance provlded under tho followlng;
Cornmerclal Properly Coveraga Parl
ï¡e fotøw¡r¡g exctuslons aro added U yåur Pollcyor Coverage Parl.
Thls insurance does not apply to:
A. Loss or damage âdslng dfreclly or fndlreclly from B- Loss or damage arlsing direclly or lndiroctly from ths
nuolear detorralion, reac'lion, ru¡clear mdlaüon orra- dlspersal, applfcâtlon or folease of, or o<posure lo,
dioaclivo contamínallon. all whether conbolled or un- dremical or blologlcal materlals or agenb. alf
controlled, ordua to any act or condtllon hcldent üc whether conüìolled or unconlrollod, ordue lo alry acl
any of lhe foregolng, whelher such loss be direct or or condltlon hcldent to any of the foragoing, whelhsr
lndiræt, prolûnato or romotq or be h wholo or ln such loss ba d¡reot or lndirec[ proxlmate or remotq
parl caused b¡ contlbuted to, ø aggravated by, any or be in wholo or ln part caused by, conblbuled lo, or
phlrsloal loss or damage hsured agøirst by this PoF aggnavated bn any phyeloal loss or damage lnsured
lry or Coverago Parl, hou¡ever such nuclear detona. egalnst by lhls Pollcy or Coverage Parl, hoìirevor
tlon, reac$on, nudear rad¡alion or radloactlve con- such-dbpersal, applicalhn, release or exposure may
lamlnatbn nuy havo been caused. Thls oxduslon have been caused.
replaces eny ottrer nucloar detonatlon. nuclear reac'
llon. nuclear radlalim ø radioaclive conbmlnallon
ocduslons bund elsewhere ln this Poltcy.
lhodzed RePresentiatlræ
A,CE o21O (O2lO3l Page I ol 1

Terrorism Exclusion Endorsernent
Named.Ir¿s-uglt: - "GolilCo¡stReslty.In
e*ors
-...,
-Gener¿LPollcy
tnfo¡mation :'
EndorscurentNumber:
PolþSYmbol FS
PolicYlìIunrbcn D36054335 001
PolicyPcriod: ASl24rfNASloASn4n006
Effectir¡e datc of Endorsemgnt: O8n4n0gs
Issucd by: TVestchester surplus Lines Insurance Company

(l'hnrc of bsrnncc CooPenY)
This E¡dorse¡neut changes the poücy -Ple¡se re¡d tt carefrlly

This odorscmcnt cbaoges your poliry as follonæ:
Endorsgment BOII¡RAì¡DMACRINBRYCO\IBRÀGEPART
AIIIO CCIIÆRÀGEFORM
lnformaiion BUSINESS
CARAGECOVER.ÀGBFORM
MOTOR CAßRIER COVERÀGE FORM
TRUCKER,S COVERÀGE FORM
BUSINESS AUTO PIITSICAL DAIvÍACE CO\ÆRá'GB FORM
COMIVtHRCIAL II{LAI'ID IvIARINE COVERAGE PART
COIyIMERCIAL PROPERTY CO1/ER.ÀGE FORM
COMMERCIAL PROPERTY CO\¿BRÀGE PA¡T
STA}IDÂRD PROPERTY POIjCY
A. Any othcrprovision of this poticynotwithsbndin& this insurarco docc not coverloss,

danoagp, inJrrry, ocpeose, cocf or lcgal oblig¡tion dircstly or índircctly rcurltiog from or
arising out of or in arry way rclaæd to ony:
l. sAot ofTcrrorism"; or
2. Actions t¡kcr¡ by or on bchalf of any gorrcrørent or any brauch or division lhercof

(including, rvirhoutlimiation,lhc uniformcd armcdfo¡ccg militia' police' stale
ì*"ity, *d aoti-t"ogr¡sm agenoies) in çqponding 1o, prcvonting, combatíng,
dcfcnding or retatiating against aay 'rAct ofTcrorjsm,"
Endorsement Informatlon Thís exclusion applies rcgardless of eny othcr causc or evcnt that in any way
'(Gontlnued) contributcs conorrrcntþr or in sequcnce to the locs, injury, damagq expcuse,
sost, or legal obligation
This excluclon applice whether ornot the "Act ofTerrorisrn" s¡¡s comnitfed
i¡concert rvith or on behalf of any organization or govarnmcnt.
.
B, As used i¡ this e¡¡dorscmo¡t:
"Act ofTcrrorismn locans an activíty tbat:
L Involvcs any víolent act or any act dangerous to humaa lifc, tangible or
íntangible prop€rty, and tbat sausce ilanage lo prspilty ot injrry to pcrsons or
csuses a threatilnreof md
2. Appears to be intended, in whole or in paf, to:
a. htimidate or cocrce a cìvilianpopulatíon¡ or
b. Disrupt any segmcnt of a nation's eoonorüy; or
c. Influence tbe poliry of a govcrnmcnt by Íntimitlation or ooe.roion; or
d. Affeot the conduæ ofa gover¡r¡r¡pot by mass dcstrrrction, assassinalion,

kidnapping ortostago-taking; or
e. Respond to governmcotal action orpolicy.
"Aot of Terorism" shall also includo any incidcnt dctcmrincd tobe suoh by an
ofrcial, dcp'rtnent or agency that bas bccn epccifically authorizcd by fedc,lal
stat¡te to nrakc sush a dotcruúDation,
Autlorizcd Agcrt
Pagc lof ?
Westch'öster Surplus Llnes lnsurancô ComÞany
@ace usa D3605{335 00t

lnsuranco Company
Policy Number
BISYS COMIvIERCIAL INSURANGE
Gold Coaat Roalty lnvoetors BROKERAGE
Potlcy tlolder Brokor/Po{ucor
POL¡GYHOLDER DISGLOSU RE
NOTIGE OF TERROR¡SII INSURANCE COVERAGE
You have been notified that under the Tenorism RIsk lnsurance Act of 2OO2, effeclive November 26,2002,
you ì¡t ere glven lhê rlght to purchase Insurance coverage for losses arislng out of acüs of tenorlsm, as
detîned in Secf/on 102(l) of lhe Act The term "act of terorism' means any aot lhat ls certified by lhe
Secretary of the Treasury, in concr¡rence wilh lhe $aøetary of Stale, and the Attorney Genenal of the
Unlted States lo be. an act of terrorlsm; to be a vlolent act or an acl that ls dangerous to human life,
-
properly or infrastructurq fo have resulted in damage wlthln the United States. or outside the Unlted States
ln the case of an alr carier or vesssl or the premlses of a United Slates mlssion; and fo have been
committed by an indivldual or lndividuals actlng on behalf of any foreþn person orforelgn lnlorest, as part
of an effort to coerce tho ctvifian populatþn of lhe United States or to lnfluence the pollcy. or affect lho
conduct of the Unlted Stales Govemment by coerclon,
RESPONSIBIL¡TY FOR COMPENSATION UNDER THÉ ACT IS SHARED BËTWEEN INSURANCE COI,IPAN¡ES
coVERED BY THEACTA¡\¡D THE UN¡TED STATES. ANYCOVERAGE PURCI-hSED FOR LOSSES CAUSED BY
ACTS OF TERRORISM DEFINED IN THE ACT IS PARTIALLY REIMBURSED BY THE UNITED STATES UNDER A
FORMTJIâ ESTABLISHED BY FEDERAL LAW. UNDER THË FORMULA, THE UNITED STATES PAYS 9O7O OF
COVERED TERRORISM LOSSES EXCEEDING THË STATUTORILY ESTABLISHED DEDL,CTIBLEPAID BYTHE
INSURANCE COMPANY PROVIDTNG THE.COVERAGÊ. THE.PREMIUM FOR THE TERRORISì¡ COVERAGE
DEF¡NED ¡N THE ACT SET FORÍH BELOW DOES NOT INCLUDE AT'¡Y C¡.I,ARGES FOR THE PORTION OF LOSS
COVERED BY THE FEDERAL GOVERNMENT UNDER THE ACT.
You elected ,VOT to purchase lsrrorlsm cover¿¡ge under the Act at the príce indlcated. ACCORDINGLY, WE
WLL flOl PROVIDE THIS COVERAGE AI.ID YOt, DO NOT OWE THE ADDÍNOML PREMIUM FOR THAT
COVERAGE INDICATED BETOW.
Tenorbm coverage descrlbed by lhe Acl under your pollcy unas mado ala¡lable to you for addllonal
prøntum ln the amount of $J.00'L however you elected to decllne sucl¡ covera¡ie.
Notlcs Form 5
ACE (Ð - Mortgagee
General Pollcy Naucd losurcd: Golil Coart Reatty fuvestors
¡ v!v, ¡lu¡¡¡B
EndorsementNutnbcn I
Effective datc of Bndorse,s¡ent: 08f2/,12005
?olioy Period : 08f24120A5 b 08124t2006
Issued
(tlarr
þ:
of lorrrrencc ColqoY)
lVætchester Slrplus Lites iusuran"" Company
This Enùorsement cbrnges the polley - Plcose reed lt carefully

Ihís sndorsemcnt modif¡es ins¡rancc providcd undcrthc following:
Commerdal property COVBR.AGEFORM
Endorsement fire Mortgagee shown belorv is made e part of thls policy:

lnformation
BantrAtlantlc
P.O.Bor8608
tr't L¡ude¡ûale' If, 33310-8608
ArfhorizcdAgml
PaBc I of¡
Þì:Êì ('l".lF lr) l- '')'l
. ¡L 0255ü7 02
THIS ENDORSEMENT GHA}¡GES THE POLIGY. PLEASE READ IT CAREFULLY.
FLORIDA CHANGES -
CANCELLATION ÂND NONRENEWAL
This endorsement modifies lnzura¡lce provlded under lhe following;
BOILER AT.ID TNACHINERY COVERAGE PARÏ

cApfrALA.ssETs PRooRAM {OUTPUT POLTGY) COVERAGE PART
COû¡MERC¡.AL INLAND IIAR¡NE COVERAGE PART
COMMERC'¡AL PROPERTY COVERAGE PART
CRIME AT{D FIDELITY COVERAGE PART
FARM COVERAGE PART
A. Paragaph 2. of lhe Ganceltation Gommon (2) On lhe basis of fitlng of daims for partlal
Poli,ry Gondltion ls replaced by the folloring: loss caused by slnkholo damago,
2. Gancottatlon For Pollöles ln Effect 90 Days regardloss of whethor thls policy has been
Or Le¡s lhe subJec{ of a elnkhoþ chfn, or on tl¡e
basls of lhe rlsk assoclalod with tho
a. lf lhls pollcy has been ln effoct for 90 days occu¡?ence of such a clalm- Howover, we
or læs, we may cancel lhis poliry bY may cmcel thÞ poli,ry lf:
mailng or delfuorfng to the llrst Named
lnsu¡od wdtþn r¡ollce of cancellalion, (a) The total of such propsrty lnsurance
æcompani'ed by the speciflc reasons for clalm paymenb for lhls pollry o<ceeds
cancellatlon. at laast: lhe cr¡nent pollcy límils of covorago for
property damage; or.
(t) 10 days befure the effectlve date of ' (b) You have f¿ilod to r€pair the gtructuro
cancellal¡on lf we cancel for
ln accordanc¿ wflh the errglneolng
nonpaymant of premium; or
recommendaüons upon whlch any loss
. lzt 20 days bebre lhe effectivs date of paymont or pollcy proceeds were
cancellatlon if ws cance! fur any olher basad-
reaso¡1, o(cept ure may cancel
lrnrnedîatoly lf there has boen: B. The follo¡¡Íng ls added lo lhe Ga¡rcellation Common
Policy Condlllon:
(a) A matorlal misstatement or Z Cancellatlon For Pollcles ln Effect For Moft;
mlsropresentatlon; o¡
Than 90 Þays
(b) A failure lo comply w¡lh 'lf lhis pollcy has been tn offect for more lhan
undenrriüng requirements a.
90 daya, ure may cancol lhls pollcy onty for
eslâblshsd by lhe lnsurer.
one or more of lhe foll¡¡whg reÍ¡Êons:
b. Wemaynotcancd: (l)Nonpayment of prenrlum;
(l) Ort the basls of prcperty hsuranoe (2) The pollcy utas oblained by a material
dal¡ns ürat a¡e ûle result of an act of
Go4 unless'wo can demonslratg bY mlsstatemenlt.
dalms ffequenry or ohorudse, lhat ¡nu (3) Thero has been a fallure to comply wilh
hâve fallod lo tat<e adlon reasonably. und€n¡Ílllng reç¡lrcmenls eslaHlshed by
necossary as requested by us to lhe Insurer withln 90 days of lhe etrectfue
provont recurronûe of damago to lhe date ofcoverage;
lrsured ProPerty; or
tL02 55 07 02 o ISO Properties, lnc., 20O1 Pagsf of2 E

(4) There has been a substannäl change in c. Thsfollowing is addedl ''

lhe rlsk coverei by the pollo¡1 NONRENEWAL
' ' Tho cancellation is for all
fsl insureds
ur¡der such policios for a given class of
1. lf we decfde not lo renew lhls pollcy t,re wlll rnail or
dallver lo lhe ñrst Named lnsured vrrlllen nollce of
lnsureds; nonronewal. accornpanled by tho spoclfic reason
(6)
- - On lhe basis of properly lrsurance_ for nonrenel¡val. at least:
claims lhat are the result of an acl of a. S) days pr'ror to the expiration of lhe pollcy if
God. if we cân de¡nonslrate, by clalms lhis potiry covers a resldentlal slruch.¡re or lls
frequency or othøwisq lhat you have conlents; or
all other pollcies.

provent rbcurenco of darr¡age to the
lnsured ProPort¡¡; or 2. Æ¡y notlce of nonronewal wiU bs ¡nalled or
(7t On the basls of filing of dairns for dellvered to lhs flfst Named hsured's taet rnalling
caused bY slnkhole address kno\ìm to us. lf notlce ls malled, proof of
' ðamage,loss
pãrtfä¡
maillng will bo sufriclent proof of nollce.
or on lhe basls of the rlsk
assocbted wltù¡ tho oocuronco of such 3. We maynot refuse to renew lhis policy:
a daim, lf: a. On lhe basis of property lnsurance clalms lhat
(a)- The total of such PQPerty lnsurance are lho result of an act of God, unloss wo can
' ctalm PaYments for Ürls Polkry demonslrate, by dalms frequency or olhen¡llse.
exceeds lhe cunont pollcy llmlts of hat you have f¿lled lo taks actlon reasonably
coverage for Propetly damage; or nscessary aÊ requesled by us to prevenl
(b) Yu¡ have ra¡þd to rePg!¡ !þo rscur€nce of damaga lo the lnsured property;
or
slruciluro ln accordanso wlth lhe
englneerlng recommendallons upon b. On the basis of fllhg of clatms for parllal loss
which anY loss PaYment or PollcY caused by sinkhole damage, regardless of
proceeds were Þased. whelher thls pollcy has been tho subþt of a
sinkhole ctalm, or'on lhe basls of lhe rísk
b. lf we cancel lhls pollry for any of lhese assoclated with the occurrsncg of such a ctaírn'
reasons¡, we wlll mall or delfver lo lhe first
'tnsured writtsn notlce of Hou¡ove6we may refuse to renawlhis pollcy lf:
Named
cancellallon, accompanied by lhe specific (1) The tolal of such proporly lnsurance claim
-
reasons for camellatlon. at leasl: payments for lhls pollcy o<ceeds lhe ourrent
Itl l0 daræ before the offedlve date of pollcy llmlts of coverage for properly
' ' cancelíaüon if cancellalion ls for damage; or
nonpay,menl of premfum; or - ' You have falled to repalr lhe structure h
(zf
accordance wllh the englneering
- 45 days before the effecllve date of
(2ì
canceltallon lf:
reoommendallons upon whfch any loss
paymont or pollcy proceeds were based.
(a) Cancellatlon ls for one or more of
lhe reasons slaled h 7.a.(2)
through 7.a.(7) above; and
- - Thts pollcY doesornot
Íb) cover a
its øttenls;
resldonllal structure
or
(3) s0 da¡¡s before lhe effeclive date of
cancollatíon lf:
- - Gancellallon ls for ono or moro of
(a)
the rear¡ons slated in 7.a.(21
lhrough. a.(7) above; and
7.
(b) Thls pollcy covers a rosldenlial

slructure or lts contenls.
Page 2oî 2 @ lSo Properlies, lnc., 2001 |.L025507 02 fl

S,GNATURE ENDORSEMËNT,..
Ndnoó lrlgr¡lú
Gold Goa¡t Realþ lnvestors
Wsstétiegter Surplue Llnes lnsufance Gompany

ù¡s¿d llro tollcy nr¡rrbor. Tþ rtrrutrrd¿rollhc fnbotratton l¡ lo bo ørçbtod
THOSE REPRESENT¡NG THE COMPAI'IY NAMED

T}IE ONLY SIGNATIJRÊS APPLIC.ABLE TO THIS POL¡CY ARE
ON THE FIRST PAGE OF THE DECI¡RAT]ONS-
By sþnlng and deliverlng lhe pollcy to you, we state

that ¡t ts a valkl conlmct when countorslgned by our authoriz€d
reprosentatlve.
UNIOT.I INSURANGE COMPANY

Monroe Streel, Sulte 4ü), ch¡cagq llllnols 6O661
625W-'LUNOIS¡
INA SURPLUS INSURANCE COMPÁNY

1601 Ghastnut slroet, P.O. Box 414t4, Phlladolphla, Pennsylvanla 19101'1484
WESTGHÉSTER SURPLUS LINES INSURÁNCE GOMPÀNY

5ü) Colonial Center Parlna¡a¡ Sutte 200, Rasræll, GA 30076 .
- Ar¡ltutedAænl
.ùs.S23o PrDs) Pld. lt U-S.À

'f--,
AJvarez, David (DAlvarez@eagteurarth.com)
To : Pabinc@bellsouth.net
Date: Fri, Novcmber ?;0,2009 2:48:14 PM
Cc:Pa¡lnm,LindaS
SubJecû Gold Coastrealty Cat54 019023
John,
Got your fax today. \lrc aro getting a list of localions and spccífic values ûrom the carrier. Once æcciræd I will provide.
Also, I am going o send you a copy ofthe polþ mderseprate covcr, Thar¡k You.
ÞavHAtvarsz
lLüoort Conolll
Engle llartln ^4u5rrrru¡ntgct
& Associates
1920 AbbottStroct
sü¡tlü¡06
Ch¡rlolb, llc 28203
PhorÊ: 70¡l{32{690 x ll
F¡r70¡l-332{ô51
lc)701 8,10 62:13
E.FAX l6t8l 5ôr.613ô
É,or[: da lvarrz@ehglema Él n.côít
tar¿t' I ul I
'trro-,
Alvaæa David (DAlvæoz@englemartin.com)
Io: Pabinc@bellsor¡tÌ¡.net
Date: Fri, Novcrnþr 20, 2009 2:57 :28 PM
$ubjecft 6old Coast Realty Cat54 019023
John,
Copy of policy is attached
Davld Alvarsz
tl¡úoml G¡n¡nl Aqùsbt ü.Dtg3r
Engle lìlarün & Assoclates
1920 Abbott gbeet
. sú¡Þ #Ílo8
Chatlottè. Ne 28i103
Photte: 701{32-8850 r tl
F¡r 70,0€32{851
(ol 704 8{0 623:¡
E FAX (5711 55t-8ltB
E*n ll: úr lvarez@englétÏÞ tll n com
øt/22/2øLø ø8: s4 5612436415 PAB INC PAGE ø2/ø6
tsrnrÇ lrltnncr-rxr.rr e. I gSrus I
$¡u,iâ|s.le,rt( o,¡úolLt É O¿8)ttl-20Éf

Í¡ü¡(01¡EÉ(r rrari.co¡l DnErfFâ¡: r60)3cr-1tl{
JBnuafY 5,2010
Ve.ÇotttÚct ttpi, and A9 $all

Gofd CoaatRe¡lty d/b/a Counlry ClubVillaso
c/o Frcd DsFalco
3299 Norltrwcst Boca Raton Boulevard #200
Boca Ralon, Fl-304t1
Re: lnsurcd: Bold Coaot Rerl¡l lnve¡totl

Clalm No.: Jf0õJ0103080
Datsof Los* þf?AlzW5
PolloY No.; IXI6054â35O01
Oul Msttor No.¡ 200805,0008
Deer Mr DeFalco:
We have boen ¡etahod þy Wgehho¡ter Surplus Lho¡ In¡utunt".iotOolV

f'WgLlC,l to asslst uiUù-íb in"esúggtlon of tfie abore a¡püonad mrüer. We aro.Ín
)åüi-oí üilüil;ñ¡-r"iúii dätû-óeæm¡er 10. 2ori0. whanln he lnvokeg the
'riùiãJ-¡nt,-noc po$oy on be¡alf qç QoH coaet Reeltv
ñ;líËi ñ;ilñfÇ u parudp:þ tn appreleal ae the
ií'ËöË i.rii" tnãürOl'er-ttriüurnc,wst-tc È unóon
ääñ-t""e:rtlg"tton fs i¡rgolng, 6nd'WSUC t¡ lhr¡¡ unarnare of the par¡rttotoß of A
dlspute, if snþ
ln hle letter
WSLIC reoontty ßoe¡yed notlce of tre lneurede supplemental clatrn.
Dsvltl.Alwree!?{Po¡ded to he purport€d
ot OeóniËi1q-ã00ó,-ñdepondontÁdjueter
At that üme you wero
6*om SUtemerrt tri iroof ót l¡es (PdL) or¡ be¡alf of WgLlÇ. under
pouurae ¡emalned
;d;;iJfñi ifre "nefthcr a'ccepbo norreledad" as ttre olalrn
invcetlgallon.
Ac par{ of lls invoolþ¡üon end'asaeosrnent of Üro cJalm, w8Uç ie rcquerllng the

tn¡urpd'¡e e¡omtnatlon în¿er oatlr bc leksn end documsnts ï¡çpol .of T' h
eupplement¡t claim ¡e óroOucc¿, Thc E¡rarnlnallon Under Oath wl[ be teken ln
;;ã¡¿;;;,"ht, ttto lnsuranoe poncy- Specffioully, the 6sußnoe pol,cy
".iul"c pol¡qy oblþatlono:
provtdee the folþwlng ponf'lose
lI
r vy, ¡¡6e¡¡ffird Mr. Munay lo yor¡r publþ ctuebr, ¡s l¡ John lulrtloy of.PublioAdlls qyry9y, T..W"
å i,:[;î$"ffiH gymg,# ã:lf.ltrf1,ffififfii"i'"åiå il äi :ilgr

li;'pËtãibtf,i'u,nh ..täï-ttit ddñ' wb voutd apprcdob r;¡¡lñcltþn fmm Ïpu on yÛur
ruÞtc¡onl¡rllon,
tüo'il Bou.ßv fiD. FHI r (þn¡¡

PHoNÉ 788.3¡t8.2800 r FÁx 780-tl&2888
gøleø t9vd $l¡ 8vd

øt/22/2øtø 88:34 5612436415 PAB IhE PAGE ø3/ø6
Gold Co¡sf Re stt! lnYeù¡ß_

J$r¡ary 5, Z0{0
P€¡a,à2
E. LOSS CONDIì1oNS
Tlre lbllowlng condltbnl eppþ ln eddltion to the Common Pollcy

Condltlons and the Comrnerclal Propel$ Condltlø¡s.
s. Dutlos ln tlra Erront of Loro or Damnge
a. You rDuel Êeá tlmt fhe follotrlng aro done ln tho ownt of loss or
damego to Covcred Prûpa¡ty,
(1) Noüfulho polbe lf a larvmaytrave beoi broken.
(21 Gtve uc prcmpt notico of tbô loss ordamage. lncludc

a dosorlptbn of tho propotty ltìvolved.
(S) A¡ emn ae posslbþ give ue a doaølptlon of fiour,

llu læs o/darnqgc oaar¡ned.
whcn End Yvltere
(4) Talca all rc¡eonsbt stop¡ lo pmtect ths coverÊd

P¡oporlyûom fi¡rûror damagc by a Coveæd Cause of
Logl. lÍfeeslble, oelttp dsma(¡ed propârty aslde end
' h tho best poaslbþ ordar for araml¡¡aüon. Also fteep
a rsoord ôt your exPoÍee$ lor emeryency and
' þfnponry mpars, for consÌdefâtlon ln the setuemofl
of ùre chlm. Thls.will not lncrensc tho Llmtt cf
lnguonoo-
(fl As our requarln glve us cnmpleb ìnventorþs of lhd

drmaged and undamaged Prôperty. lnclude
qurnllües. oæ1. vahrso gnd.amourtt cf loee cla¡med-
(6) AÀ Oûen æ moy bc rca¡onablv n¡qulred, pemlt ue io

lrupedüre propedy prorlidhrg ihe loee or damage and
ûxãtnlne Your bool¡¡ and recoldc'
Äoo porñn w ür blte 6âmpþ8 ol fhe damagod and
undamaged propeily for lnspec{¡on, iuql',ng and
analyeÎ0. and pemlt uc lo mako copieo ûom your
boolseand reoord¡-
f/) Scnd us n slgned, sworn proof of loco conb¡nlng þe

lnbmaüon rvs request lo hveetlgetp ltre clalm- You
must do thts tl¡lthtn 60 d¡y¡ efter ow rcquesl' .wo will
tupply you wlth the neggssary fotmt.
troo PO¡¡Cß DS tqOX Eout5rano, PHI . cô¡âLGAü,Ég, FLOrum ixl

PrÐl¡e 788.34t-2t00 0 F¡(¡ 780.398.2888
90.rs0 Þvd !t{r wd gt':ÌE Zr9S ¿t¡91 gle,zlesllg

øtl22/2øtø A8:34 5612436415 PAB INC FAGh, 6Ctø6
O al¡t Coæì Re elty I nw clotc

Jenudy 5r 20f0
Þrar 3
(S) Cooperate wiitr uo ln the fnvællggtlon or Eotdemont of

thc clalm.
b, We may exrrÍlno âny lneumd undsr oâth, tflñlls not ln lhe

pfeson@ of âny ôfnef hguþd and at such times ae may be
reasonably reqtfred, âboul any matler rlating to thls lnsunanoo
. orchbn, lndudlng an insuÞdg boob and records. ln the event
of an examination, an lnoured's answors fnuBtbe sþned.
Pursuant to lhe furegolng, WSLTO ie exercisíng ¡ts conbaotral dght und€r lñê
polloy to take bcamlnatlon(c) UnderOafr of ü¡e hrrued repreeentrtlve(s) wlth ths moet
icnowled0eh@
1. ThoquanQ¡moflossl
2. Tha oau¡s of{re lore;
3. The malntengrim hhtory of ltn buiHings¡
4, Productlon andexplanatlon of lhedocumente ßqqeçþd;
g- Prapan¡tbn of and suppoúbrthe clalnr Þackqge.
The Bremlnatlon(e) UnderOatl is sdleduled Êðbl¡olvs:
Nrme; eold Ooatt Reqll!/t poreon wtür mort knovvledge of lhe

enumorstBd ¡roae of lnqulryabove.
D¡to¡ WednerdrY, eÆg¿X9419

Tlme: 1l:00 A.lt¡|.
Loc¡tlont TeylorJonovloGourtRrpordig
3oi Clome¡ls Street 9ulte 3000
Woet Prlm Bcroh, Florlda 3a3ll
lf moro lh¡n one peieon b neoorcaryr b roo¡ond to.-$e. aru¡s of

logqfry, to otatúrd obover tlre cx¡nlnrüons wlll br dpne
coñ¡eôuüvely et e mlntmum of hourly lnlew¡le. Pleare nob'
ecch exemhão wltl bo quertloned ouÈldc lbr proeence of eny
othsrexamlnes,
., P{o$¡ci 730,Ct8.2000 r F^x 788.C99¿888
9gt9ø Ðüd oNt gv¿ g1'9ÊÞ2T90 Lþt9f sfø¿lg0llg

ø1/22/2øLø ø8:34 5612436415 PAB INC PAGE ø5/ø6
Oold O oe d Reet U I nvsûors

JanueryS 2010
._ _ . .,. .. Þaccll
tf you rra nol avallqble o¡r lne date ae¡lgned,.. pleaee Pnta"{ our ofioe
tmmedhtèúy and we will work wlth you to bohedulo a rnutl¡alþ convenlent date,
YoU can e¡Oectrhat he Examlnatlon(¡) Under Oalh wíll tq¡(€ th'o beltsr part of a
doy. ln advanco of the E)camlnat¡on(o) Under Otlh, plsag€ provlde us W¡fh lhc folloting
documentsl
.,ttt tr? , füJlì:,,î1"r."t{n"lgg.preparodonvourbaharf
bvenvonenrith resard to
,.-- f7ã-12, Copleo of att lnvoinsF ptoposals, bids, contracle, for all tteme ropah€d
,v5 l*I ¡ anð/or ruphcãlãt rr-o ¡rwursd premhæ ar roaultgf .!he Jugiga¡Le bss,
. ìnqludl¡rg, br¡t not lîmited to, houncd feptkc ôñd propoaab for ft¡ture
repairs,
,u5 âr. Copþr of eüIQQnlDlle.oancellsd chÈo|(s, sl¡od( lË0¡storl, and/or any othof
pdof . of payment iõr all $pgFE ând/or laphcement t'D the hsured
þremlecsrom
f¡¡S
L--:-¡4.
. [ZB] Gopies rif att ¡heþßEphg snüor- vldeoe thowlng tha condlüon of thc
lneUred premínrr t¡kgr at enytlmr by anyono,
f,76. ffii:#:.t¡ oþnlns @

NS erùmrtted lorthe rneured
WS Å a- ruiocumentsevkfenclng anv rcpprsþfte hsured proporty.
T. CoptêB'oúdog¡rrreûtu¡Jg:pl@8, ßæ¡pb! aÞterr¡enh. o( ølny othotproofof

rcpalm b the lnaurcd pramleæ fvom
,,^r, frl
trt.l-{-)
paimont for mainbnffiìñ¡/or
@
-
rus a. ^m
[õ] g. tha eserlg-lIslese.
, . - t-=1 Any ¡nd ell errglneedng or oûer gxoe$or conEullant repods pertalnlng to
lNl l_tÞJ thicondtuonoftre subiect¡gp¡fu--
to- rcfcnlns toCg'esg, Bpçlf"and rnelnÞnqnq.o$dre lngured
]uJ @| îlfgffi,t".t
nS l3n.
' F- | / J
Any documents evtdenclng pmof of togt¡pFh.Fnd/or business lncome
reaüng tothe lnsured propeñy fom Jagg¡ty290Oûo tåe.pres$f.
,-t 12. Any oonespondenoe retiltng þ dgnggg¡ r[dnþlgry and/or rcoalr of

l[,5 | !^Ê I thelnsurodprerr{ses.
etoo pqnoEDÉlÆoi Bo¡x¡vAñe. PHI ¡ ooFALêAU¡Ar FLOR|D S9l9l

Psoile 788.338.2000 . Fâtc' 780.:Xlå.2888
jølso Ðvd Cltr a'd cttgct¿t!¡e ¿r:er ørø¿18ølÍs

ø1/22/2ølø ø8:34 56724364t5 PAE TNC PAGE ø6/ø6
ItJ l.g,p.]
. ... _, _
Øld Coast RætV lorocfor!
,i-,."?#jl
13. 4ll hcu¡aqlg..e9[gþg,hold on üô lnBur€d proporty from Januaw 20Q0 to
thqotcr?f¡t .
lpS @ n #lã"Jir#Lappnabato.
evatuafions. and-lns@lþne-perraintns to rhe
n
1lll r-, 15. .lny ô-n,f alt doan¡6¡l¡tion and/or aofr$pondenoo w¡¡h anygovcrnment
ffiddcconosmlngÞællgglþglgrÊpÊildrtngrooonalrucrtonqtppdr.
rrrr@to. ôry{$"r ¿SggEgþJn @

WSL¡Cto conelder.
ürat you wouH ilke thc
So lhaÍwe sre affo¡(ed e reasoneblc perlod sf tlme lo review lhe doc¡rment¿fion p¡irrr to
taklng the examÈ¡ation(s) under oqú¡ please prouìde 'copiee of Hro requested
docurneot¡ to our offtce on o¡beîo¡a F¡rdo/ø-,lanus_itrà?û.2ÙtQ-
. By uny of thls letter, V\tesfchr¡tur advl¡¡s lhãt tt b rcservlng all dghh undor the
pellty as thet relale to thle olalm. Atr euch, any ¡dlon(¡) previoueþ lakon or lhat wtll be
laken by Woctctrcstor andlor lb agorns rolated to {he evaluatlon, lnvd¡ligalion and
adlulment of thlr clalm. ghall not vtâlvg or lnv¡lldate any of tfie þrrB and condltlon¡ of
the subJoot ln¡ursnce poltcy.
Wo look fotwad lo your oooperutÌon. lf you have any quesliona ln the lnterlm.
feol f¡ae lo conÞcl $e undenþned,
stn/*'ty,
LtL)
. Wlllam S. Borl(
w8B/MG/mkm
Seun Murhli
Trlumph Consulthg Corp
2860 Ststs Road &4
Sultc 110/Box 100
Fo* Lar¡derdalo. FL 3g3l2
John Malloy
Publlc Adluutcre Eureriu, lnc,
e47 Flyacfrth DnYó
Dolroy Baaoh, Ft 0Oll'3
2100 PoNcE DE LrOr¡ Bourv¡rc. PHf . CoRALoâ8r4s¡ Flôflo^3319+

püoN$ 786.438.2e00 0 F¡$c 788.æ8.2888
9ste0 !Þud oNI 8Vd grrgÊr¿l:ts illgl ew¿ßòtw

James Carlisle Page I of I
$t8lí'4[: i: SC!-tr:E]t-lUtrd€.i r: F"?ts1]Í¡\T$R Ë¡ùTûF:[t-Hlå :Í L$üA-f1üjt¡dg :i fd8'i]q.tï Uf{ :;
Hffi{"[CrqTf'ÐFJ
Spring Hilf College, f4obile,,Alabanra f956
Unir.rersity of Miami, Sclroof of Laul, Coral Gahles, Florida 1.963
B{E&!ATI$N / FJEGþTÍÁIT3öÞ| åS88 t{r Pre$enÉ

Dedicated to full tinie dispLlle resolution since 20t3. Caseload is
primaril¡r tort and comrnercial lltigatlon,
0Ë PROFESSIOF{AL pRqtTfCË
'ARËó{S
A,ttorney General, State of Florida 1963 - 1967
County Sof icltor's OffTce, Palm Beaclt Counl:y, Criminal
pro.sequtions 1967 - 1973
Judge, County Court, 15th ludîcial Circuit of Florida 1973 - 1984
JudrSe, Circuit Court, 1Sth Juclicial Circuit of Ftorida 1984 - 2003
FR,I? FESSET NAL T fr.GJINTZÂT!ßN 5

Ftorícla Supreme Court Certil'ied Circuit Civil' MedfaLor
Florida Bar AssocÏation
Palm Beach Counfl Bar Association
$TÞ{ËR,
Í'lilitary lst Lieutenant, U.S. A.rrriy 1956 - 1959
E ffiIEIT
3
RESUME
RoEcr B. Çolúon, Clrcult JudgÉ ßeû)

13r JEdfcirl circuit
Prtn Bc*ch Comty, f'lorldr
ADDRßSS: 11g71 I¡kc Sborc Flac€

Norfù PûlmBcarh, Pl. 3340E
DATE ¡¡m ff¿Cm OF BIRTË: .Augurt 5, t937, Btooroingfoa Illinois
EDUCATION; Ilünoig Wcslo¡rm Univcrsi9, Bloomiugùou, [Iiusis 1955-1959
NorrthyËstän Univürgity, Scbool of I¿w, Ctdcago, Illiooi¡

Iuri¡DoqtonbDcgrrr 1959-1962
EMPLOYMENT3 Sp¡cí¡I AecÐr- Fedøal Bweil of Invustigatiæ (F3.t)
Arsigned to tho follorvingofffccs: 1962-7971
tüasbingtotrrDC.
f,lcmrut, Co.
MontacY, C,a.
, Ssnft¡a!,P.n
FL lÊudt¡dsle, Fl.
kivateh¡cticc oflaw
wcrÉPqlnBçach,I[. lYll-1994
Ciçgit Judge, I 5t &dicial Cirsu¡t
ÆsigenenF: 1994r2W6
Civil Ðivisiou
Chit¡nal Divtsíon
' FmityDivision
fuvsnile Co¡rt 20[JG20Oó
$cøtmJrrdge,lstJtdioial Citcuit 2007-heecøt
Fluid¡strprtmc0ourtÇ€rtiüedMedi*or 2007-Frstcnt
Cl¡a¡¡ít CiYil.
FsEíly
Cot-tY
Spoc'itll4ast{rr 2007-hercrt
lYffi¡ Delorçs
CEIÍ,DREN: lito (2) gons

?ag of3
t Prograrns
iorìda $-bats- (lo*ñs
t t\l)R Maiu Ìng.r

I $Iedintot 9carcl¡
I 'l'hc Flur'¡du -Di:i¡rutu llc:olutiou
Cc^tlter
o ccrtit-tclriiot Qu¡rli fi t:ntio¡rs
r I(ulcs for Media(¡¡r.:
e Ch¡rptr':r{'l
¡ Co¡rtir¡ning lvledintot Educ ntiou Altetnative Dispute Resoluti on Currently, ws have 9 CDS .
r lTsinmglroglüü$ ct (ADR) has beei. utíiizedby the orocrami. 49 countv mediation
Confer¡¡ccs Florida Court System to resolve ãióäamí f serving rill 20 oirouits),
o Mcdintorlrhics r\tlvilorY digpuæs for w èr 25 y eø¡s, startiDg ls fa¡¡r¡tv inediatíon progra^ms, 13. -
(lomn¡itlcc QPìrrirus wiù the'oreation of the first citizen cirouît cMl meôitition programs' 4u
díspute seütlemont (CDS) senter itr depondency m eSiation Programs,
r Opporrurritics to $en'c
Da-de Countv itr 1975. Si¡cethat three a¡bítration pfograrns an6 ono
t lhe Rewlutlon RePort . time. ths usés of inediation and app ell ate medietion PrÖgram.
e ttroposcd Revigions to Mctliltor . arbiú*ion havc sro'iltr ths
as
Quotificntioru Legislatt¡rs and judioiarY have Even more sig¡ifisantly, th.o sgope
, oreatéd'ons of the most
of saob of theso PrograÍns, in tsrms
comrfehensive court-connected of both the u¡m15ei and tYPes of
mediatioß ptograttu, in the cowrtry.
oas'ss ¡eoeived, c'ontinües to oxpand' .
As tbe progfBm gro'wo, 811
interestius Phenomenoû has
The sourt-oonnocted medi'gtion oCsunedJthe largeßt gowth bas.
. s¡d arbitrstiotr Progrttrs been in the p¡ivate sector resgluton
renresented in Florida Bre as of csr¡rt-ordered cases a¡d the
diiorse as the statsitself, resolution of caÉes through
ProcIüils have b een orga$ízed medíatio¡ which would otherwise
' basõd ontbe needs of t5e e,oì¡Ít, have becomc cívíl suits.
tbe availabilitv of volunteers
endths accoséiuility of funding
soulges, h 1990, tbeFlorida SuPreme Court
revised ihe Rules of Civil Procedure
.
to ¿llow oa¡ties 10 daYs f¡om tho

'Prior to 1987, mediatíon prcgf,eme order of ieferral in whioh to seleot
for counw andfamilY cases werein tnàii own mediator. This provïsion
ope¡atíon, and legiglátion suthøized has led to the intended result of
tlie creation of ciiizen disPute eieater party involvement in the
settleme¡t centers and judioial
3n712006
to ://www.flcourts.org/gen publio/adr/ad¡inEo'shtml
$T xrograrT Pi 2of3
refeûal of cases to family mediation process with circuits reporting that
prog¡ams. As a result of the 1985 õver 90 percont ofthe perties agree
and 1986 Legislative Study on a meðistor. Unfori¡nately, tbis
Commissionsr irndincs and reoorts. has also resulted in creater diffi.cultv-
the I'lorida Statutes ñere broddeneã for maintaining oomlleto statistics
i¡ 1987 to grant trial judges tho oa the scope of the progfam,
authority to refer aty co[tested civil Althoush all20 iudroial clrcuits
matter to mediatiou or arbítation rsfer soäe oortiön of thei¡ caseload
zubject to limited Sup¡eme Court to mediatioh. 9¡e are able to collsot
excspti on s. Thi¡ cor¡iorehensive statistios' o¡lv from thoso si¡cuits in'
statuie was supplemeÀted by tbe whicl¡ a direótor or coordinator of
adoption of Rules of Civil mediation servioes has béen
?rocedure (adopted is 198?) the designated.
Florida Rules fo¡ Certified nnd
Corut-App oi¡tEd Mediæors
(edopted in, 19yZ), autl the Florida
As ofDec€mber 2005, over
Rule¡ for Court-Aooointed- 18,000 tndividuals had
Arbíhators (adopêô in Þ94)..
co¡nnleteda Suoreme Cou¡t of
Fto¡Ída certifi eil mediation
In a¡ effortto kcep pace with this fairing programs, Curiently
' rapidly wolvrngfield, tbs Supreme there are 1391 ooulty
' Court ofFlo¡idahas a committes or . me'diators, 7 682 førnily
medíation (ADRPolicy a¡d Rules), mediators.2766 c¿;rcuit
t ' amediator griovanceboàrd mediatoriand 138 dependoncy
(l4ediator Qualifi cations Board), a mediators certifted by the
griwanco board for certified Suprems Gourt of Flo¡ida.
uainiu g gro E¡aûs (Ivlediati on
Training Rwiow Board), ar¡d Ên
ethics advi sory comuittee In addition to the souft-ordered
$4e di atoi" Ethics Advi s ory
counw civil mediation and
Committoo), a¡bitätiou family (divorce)
medintion, and oirguit civil
i¡ediation a¡d arbitatio¡ programs,
Irr 1994 tbe Suprerne Court there are avarìeÈY of ADR
Committes on Mediation a¡d Drocrams operati-se zuocessfully
A¡bitation Traíning þredecessor to ih¡oî¡hout the stale. Within thé
'
the AÐR Folicy Committeo) çourt-coûtext, mediati on, arbitration
undertook a comprehensivs ¡evi ew and med/arb a¡e utüized in juvenilo
of the mediation training standsrds cases in several circuits, sttmmarY
whích were initiallv addoted bv tho iurv t¡ials a¡eutïlized on an ad hoo
chiefjustice in 1989. Wí*¡ tho- baíis in other cirouits, a¡¡d ths
assistarrce of subject matter experts fede¡al oourts utilize both me<liation
and input from traine¡s zurd traineos, and arbitration. Thero a¡e nume¡ous
.p ://www.fl courts. org/gen-public/adr/adrint¡o.shtnrl 3n7/2006

.ll r flug¡'4¡Il R 3oî3
the cornmittee revised the trainins state ADR stafi¡tes and sucoes$ful
prcgrarn standards. The proposed" ADR programs through the
sta¡dards \ryero aDpÍoved bv the Dopartrre,nt of Ins:ranoo, tbe
court and becanè'effectivdas of Division ofMobileHomes of the
April 1, 1996, purzuant to Chief Deparbrent of Business and
Justige Stsphen H. G¡imes Professi onal Regulati on, the
administrativs order. Workers Componsation Division of
theDepartrnent of Labor and
In 1988,tbffe'were Employloent SecurÍty, to name just
16 CDS
a 1e14r,
prograrns,'three court-based smell
olaims (county) mediation
programs, 14 court-baseil family
mediation programs, two oou¡t-
bssed oircr¡it cív¡l mediation
prog¡ams and no court a¡bitraúon
progr&ns.
flteturn'Flo¡re]
p ://www.fl cou rts, org/gen_publ i c/adr/adrintro. shrml 3n7/2006

ARC Mediation Page I of I
Juclge Walter ColÞattr (Ret.) Fflå,i*'"

Crrllllc.t¡on5
Florld. Cirwn Clel
Pr¿clica Arc¿s
Ocrlê d Cíull Procl¡sô. l¡$nånoó. PoFori¡l hltry
Medf¿lþn Expotl¡nce
J¡dc. Colb¡rh h¡r Eswr.t ¡¡ ¡ PÐlm B$ch Coun¡y Judeo loryr0l ovot 16 ya¡rs, ând
rnoc ncrnlly oc Chhtùùr tom 1997 üvq¡oh 200t. Hit è¡pstlBícÉ fsdfvört0ir¡l
B¡stln¡¡s hÀvioq bôsn tËþn¡d to thô CdÍin{. Clvl, F¡mìt ûod Foreclosa¡ O¡ri¡lorls
olü¡ coud.rud¡0 hl$ir¡.Ícl¿l leflià.
¡deo Colb¡th'r ærirfi$¡lidr st! Cldl¡ Courl Ch¡|Î¡srÍrlor totonr on lhô hlolr olhís
1"...1 Jd 2oro I i I êxoíþlry râràtf o¡ lh. baoc|l. rnú Brñhg on Urê F@Ee¡ d üâ N¡tlmrt ù/dfcl¡l
Su l¡lo Ti¡ Wô Th Fr Sr CollüC0 h Reno. Nrvsdc, lhr Floílrl! A¡rv¡nctd Jldi.j¡¡l Sludhs trú urs Flo¡ld¡.hrtldðl
Colhg¡. He d3o h¡i 3.rìEd d m¡ny llatÀ¡ldo oommitEst bt sâ)ôk¡ù'lnl öf ttr¡ DÌ'¡ol
2f28A 30 I 2 3
.t¡d¡cê ð3 rE0 a¡ læ¡l c.nîì¡ttoû3 br ûoßrGþn.llem a¡rd bdtrokrCy,
¡lSo?¡9tO ¡d0. Colb¡lh erËdßled ftJll ]lrdLnå t nlw'Cly wllh ¡ Bacl¡llot of $cl¡nø, ald
t1 12 1E .f¡l t5 16 l? dilEo$Erdy olrlchrrl lìb Jûk Ooc¡m{Ê lrom lDc tlìlvct:{ly ol Mltmf t*J schøl ln
ra'19 20 21 22 2a t966,
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yùr d¡¡LËd (bl, rrd ümt

CLUB VILLAGES, LLC v. WESTCHESTER SURPLUS LINES INSURANCE COMPANY Complaint

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CLUB VILLAGES, LLC v. WESTCHESTER SURPLUS LINES INSURANCE COMPANY Complaint

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Case 9:10-cv-81482-WJZ Document 1-4 Entered on FLSD Docket 11/16/2010 Page 2 of 98

IN THE CIRCUIT COURT OF THE FIFTEENTH ruDICI.AL CIRCUTT

CLIJB VILLAGES, LLC as assignee of GOLD 50 z0lfi 0A0 ¿ 6 6

wEsrcHEsrER suRpLUs LrNES rNsuRANcE coMpANr

p'rrrroN ro coMpEL AppRArsAL.

Petitioner, CLUB VILLAGES, LLC as assignee of GOLD COASTREALTY

INVESTORS, LLC, , (hereinafter'?etitionet'), by and through the undersigned counsel, files

Declaratory Judgment against Respondent, WESTCHESTER SLJRPLUS LINES INSLJRANCE

COMPANY and states the following:

l. This is an action for damages in excess of Fifteen Thousand Dollars ($15,000.00)

exolusive of court costs, prejudgment interest and attomeys fees.

3. At all times material hereto, Respondent was an insurance company authorized to

Beach County, Florida.

4 ln consideration of the premiums paid to it by Petitioner, Respondent issued to

D3505433 5001. A copy of the policy is attached hereto as Erhibit "1".

5. On or about October 24,2A05, Hur¡ica¡re

Florida area, damaging the Petitioner's insured premises,

7, Petitioner timely notified tl¡e Defendant, WESTCHESTER SURPLUS LINES

provided notice of the covered loss.

and/or they have been waived by Respondent.

under the policy.

December 10, 2A09. WESTCHESTER SURPTUS LINES INSURANCE COMPANY

2010; att¿ched hereto as Exhibit

12. WESTCHESTER SURPLUS LINES INSLIRANCE COMPANY has previously

admitted that the loss was as a result of a covered peril.

13. During the course of 1VESTCHESTER SURPLUS TINES INSURAì{CE

evidencing damage(s) to the covered property,

15. Petitioner re-alleges all allegations contained in Paragraphs I through 14 as

though set forth firlly herein and fr¡rther alloges:

the amount of the loss.

policy for the Hurricane Wilma loss to the insured premises.

is appropriate for the appraisal process.

19. Petitioner made a witten demand to Respondent for an appraisal.

20. Respondent has refused to participate in the appraisal process'

fees, pr:rsuant to Section 57.041of the Florida Statutes.

22. Petitioner re-alleges all allegations contained in Paragraphs I through 21 as

though set forth firlly herein and fu¡ther alleges:

parties' appraisers carmot agree within 15 days.

participate in the appraisal process other than identifring its appraÍser.

of an umpire in accordance with the policy terms hæ failed to occtu.

fees, ptusuant to Section 57.041 of the Florida Statutes.

umpire in this matter:

a) Walter Colbath ßetired Circuit Court -

Printouts of their backgrounds are attached as Composite Exbib¡t "3t.

WHEREFORE, Petitioner respectfully requests this Honorable Couf appoint and

this Cor¡rt deems just and ProPer.

30. Petitioncr re,alleges the allegations contained in Paragraph I throuùt 29 as

though set forth ftrlly herein and fr¡rther alleges:

amount of the loss.

33. Petitioner made a w¡itten demand to Respondent for an appraisal.

34, TVESTCHESTER SURPLUS LINES INSURANCE COMPA}TY hAS TCñ¡SEd tO

participate in the appraisal process.

the appraisal procedute sot forth in the policy.

36, Petitionor suffered damage as a result of Respondent's breach of 'the subjeot

Section 57.041 of the Florida Statutes.

WHEREFORE, Petitioner respectfully demands an award of damages for breach of

such other relief as this Court deems just and proper.

38. Petitioner re-alleges the allegations contained in Paragraph I through 37 as

though set forth fully herein and fruther alleges:

action, and the scope of remedy available to Petitioner.

entitlement fo attomey fees, costs and prejudgment interest.

panel's determination to the amount of the losses sustained.

43. CLUB VILLAGES, LLC as assignee of GOLD COASTREALTY INVESTORS,