Condominium Commercial Unit-Owners Coverage Form

COMMERCIAL PROPERTY CP 00 18 10 12 CONDOMINIUM COMMERCIAL UNIT-OWNERS COVERAGE FORM Various provisions in this policy restrict coverage. Read the entire policy carefully to determine rights, duties and what is and is not covered. Throughout this policy, the words "you" and "your" refer to the Named Insured shown in the Declarations. The words "we", "us" and "our" refer to the company providing this insurance. Other words and phrases that appear in quotation marks have special meaning. Refer to Section H. Definitions. A. Coverage b. Personal Property Of Others that is: We will pay for direct physical loss of or damage to (1) In your care, custody or control; and Covered Property at the premises described in the (2) Located in or on the building or structure Declarations caused by or resulting from any described in the Declarations or in the Covered Cause of Loss. open (or in a vehicle) within 100 feet of 1. Covered Property the building or structure or within 100 Covered Property, as used in this Coverage feet of the premises described in the Part, means the type of property described in Declarations, whichever distance is this section, A.1., and limited in A.2. Property greater. Not Covered, if a Limit Of Insurance is shown However, our payment for loss of or in the Declarations for that type of property. damage to personal property of others will a. Your Business Personal Property only be for the account of the owner of the consists of the following property located in property. or on the building or structure described in 2. Property Not Covered the Declarations or in the open (or in a Covered Property does not include: vehicle) within 100 feet of the building or structure or within 100 feet of the premises a. Accounts, bills, currency, food stamps or described in the Declarations, whichever other evidences of debt, money, notes or distance is greater: securities. Lottery tickets held for sale are not securities; (1) Furniture; b. Animals, unless owned by others and (2) Fixtures, improvements and alterations boarded by you, or if owned by you, only as making up part of the building and "stock" while inside of buildings; owned by you; c. Automobiles held for sale; (3) Machinery and equipment; d. Contraband, or property in the course of (4) "Stock"; illegal transportation or trade; (5) All other personal property owned by e. Water, growing crops or lawns; you and used in your business; f. Personal property while airborne or (6) Labor, materials or services furnished or waterborne; arranged by you on personal property of others; g. Property that is covered under another Coverage Form of this or any other policy in (7) Leased personal property for which you which it is more specifically described, have a contractual responsibility to except for the excess of the amount due insure, unless otherwise provided for (whether you can collect on it or not) from under Personal Property Of Others. that other insurance; CP 00 18 10 12 © Insurance Services Office, Inc., 2011 Page 1 of 13 h. Electronic data, except as provided under k. The following property while outside of the Additional Coverage, Electronic Data. buildings: Electronic data means information, facts or (1) Grain, hay, straw or other crops; or computer programs stored as or on, created or used on, or transmitted to or (2) Fences, radio or television antennas from computer software (including systems (including satellite dishes) and their and applications software), on hard or lead-in wiring, masts or towers, trees, floppy disks, CD-ROMs, tapes, drives, cells, shrubs or plants (other than "stock" of data processing devices or any other trees, shrubs or plants), all except as repositories of computer software which are provided in the Coverage Extensions; used with electronically controlled l. Any of the following types of property equipment. The term computer programs, contained within a unit, regardless of referred to in the foregoing description of ownership, if your Condominium electronic data, means a set of related Association Agreement requires the electronic instructions which direct the Association to insure it: operations and functions of a computer or (1) Fixtures, improvements and alterations device connected to it, which enable the that are a part of the building; and computer or device to receive, process, store, retrieve or send data. This (2) Appliances, such as those used for paragraph, h., does not apply to your refrigerating, ventilating, cooking, "stock" of prepackaged software, or to dishwashing, laundering, security or electronic data which is integrated in and housekeeping. operates or controls the building's elevator, 3. Covered Causes Of Loss lighting, heating, ventilation, air conditioning or security system; See applicable Causes Of Loss form as shown in the Declarations. i. The cost to replace or restore the information on valuable papers and 4. Additional Coverages records, including those which exist as a. Debris Removal electronic data. Valuable papers and (1) Subject to Paragraphs (2), (3) and (4), records include but are not limited to we will pay your expense to remove proprietary information, books of account, debris of Covered Property and other deeds, manuscripts, abstracts, drawings debris that is on the described premises, and card index systems. Refer to the when such debris is caused by or Coverage Extension for Valuable Papers results from a Covered Cause of Loss And Records (Other Than Electronic Data) that occurs during the policy period. The for limited coverage for valuable papers and expenses will be paid only if they are records other than those which exist as reported to us in writing within 180 days electronic data; of the date of direct physical loss or j. Vehicles or self-propelled machines damage. (including aircraft or watercraft) that: (2) Debris Removal does not apply to costs (1) Are licensed for use on public roads; or to: (2) Are operated principally away from the (a) Remove debris of property of yours described premises. that is not insured under this policy, This paragraph does not apply to: or property in your possession that is not Covered Property; (a) Vehicles or self-propelled machines or autos you manufacture, process (b) Remove any property that is or warehouse; Property Not Covered, including property addressed under the (b) Vehicles or self-propelled machines, Outdoor Property Coverage other than autos, you hold for sale; Extension; (c) Rowboats or canoes out of water at the described premises; or (d) Trailers, but only to the extent provided for in the Coverage Extension for Non-owned Detached Trailers; Page 2 of 13 © Insurance Services Office, Inc., 2011 CP 00 18 10 12 (c) Remove property of others of a type Therefore, if (4)(a) and/or (4)(b) applies, that would not be Covered Property our total payment for direct physical loss under this Coverage Form; or damage and debris removal expense (d) Remove deposits of mud or earth may reach but will never exceed the from the grounds of the described Limit of Insurance on the Covered premises; Property that has sustained loss or damage, plus $25,000. (e) Extract "pollutants" from land or water; or (5) Examples (f) Remove, restore or replace polluted The following examples assume that land or water. there is no Coinsurance penalty. (3) Subject to the exceptions in Paragraph Example 1 (4), the following provisions apply: Limit of Insurance: $ 90,000 (a) The most we will pay for the total of Amount of Deductible: $ 500 direct physical loss or damage plus debris removal expense is the Limit Amount of Loss: $ 50,000 of Insurance applicable to the Amount of Loss Payable: $ 49,500 Covered Property that has sustained ($50,000 – $500) loss or damage. Debris Removal Expense: $ 10,000 (b) Subject to (a) above, the amount we Debris Removal Expense Payable: $ 10,000 will pay for debris removal expense is limited to 25% of the sum of the ($10,000 is 20% of $50,000.) deductible plus the amount that we The debris removal expense is less than 25% of the pay for direct physical loss or sum of the loss payable plus the deductible. The sum damage to the Covered Property that of the loss payable and the debris removal expense has sustained loss or damage. ($49,500 + $10,000 = $59,500) is less than the Limit However, if no Covered Property has of Insurance. Therefore the full amount of debris sustained direct physical loss or removal expense is payable in accordance with the damage, the most we will pay for terms of Paragraph (3). removal of debris of other property (if such removal is covered under this Example 2 Additional Coverage) is $5,000 at Limit of Insurance: $ 90,000 each location. Amount of Deductible: $ 500 (4) We will pay up to an additional $25,000 Amount of Loss: $ 80,000 for debris removal expense, for each location, in any one occurrence of Amount of Loss Payable: $ 79,500 physical loss or damage to Covered ($80,000 – $500) Property, if one or both of the following Debris Removal Expense: $ 40,000 circumstances apply: Debris Removal Expense Payable: (a) The total of the actual debris removal Basic Amount: $ 10,500 expense plus the amount we pay for direct physical loss or damage Additional Amount: $ 25,000 exceeds the Limit of Insurance on The basic amount payable for debris removal the Covered Property that has expense under the terms of Paragraph (3) is sustained loss or damage. calculated as follows: $80,000 ($79,500 + $500) x .25 (b) The actual debris removal expense = $20,000; capped at $10,500. The cap applies exceeds 25% of the sum of the because the sum of the loss payable ($79,500) and deductible plus the amount that we the basic amount payable for debris removal expense pay for direct physical loss or ($10,500) cannot exceed the Limit of Insurance damage to the Covered Property that ($90,000).

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