Condominium Commercial Unit Owners Changes – Standard Property Policy

COMMERCIAL PROPERTY CP 17 98 10 00

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. CONDOMINIUM COMMERCIAL UNIT OWNERS CHANGES – STANDARD PROPERTY POLICY

This endorsement modifies insurance provided under the following:

STANDARD PROPERTY POLICY

A. Paragraph A.1.a., Building, is deleted. (2) Appliances, such as those used for refriger- B. Paragraph A.1.b., Your Business Personal ating, ventilating, cooking, dishwashing, Property is replaced by the following: laundering, security or housekeeping. b. Your Business Personal Property located in or F. The Newly Acquired Or Constructed Property on the building described in the Declarations or Coverage Extension is replaced by the following: in the open (or in a vehicle) within 100 feet of a. Newly Acquired Property the described premises, consisting of the fol- (1) You may extend the insurance that applies lowing unless otherwise specified in the Decla- to Your Business Personal Property to apply rations or on the Your Business Personal Prop- to: erty-Separation of Coverage form: (a) Business personal property, including (1) Furniture; such property that you newly acquire, at (2) Fixtures, improvements and alterations any location you acquire other than at making up part of the building and owned by fairs, trade shows or exhibitions; or you; (b) Business personal property that you (3) Machinery and equipment; newly acquire, located at the described (4) "Stock"; premises. (5) All other personal property owned by you The most we will pay for loss or damage and used in your business; under this Extension is $100,000 at each building. (6) Labor, materials or services furnished or arranged by you on personal property of (2) This Extension does not apply to: others; (a) Personal property of others that is tem- (7) Leased personal property for which you porarily in your possession in the course have a contractual responsibility to insure, of installing or performing work on such unless otherwise provided for under Per- property; or sonal Property of Others. (b) Personal property of others that is tem- C. Paragraphs d., f., g., j., l., and m. of Property Not porarily in your possession in the course Covered are deleted. of your manufacturing or wholesaling activities. D. Paragraph h. of Property Not Covered is replaced by the following: (3) Insurance under this Extension for each newly acquired property will end when any h. Water, growing crops or lawns. of the following first occurs: E. The following is added to Property Not Covered: (a) This policy expires; q. Any of the following types of property contained (b) 30 days expire after you acquire the within a unit, regardless of ownership, if your property; or Condominium Association Agreement requires the Association to insure it: (c) You report values to us. (1) Fixtures, improvements and alterations that We will charge you additional premium for are a part of the building; and values reported from the date you acquire the property.

CP 17 98 10 00 Copyright, Insurance Services Office, Inc., 1999 Page 1 of 2 G. The Vacancy Loss Condition is replaced by the But we will pay if the unit is "unoccupied" due to following: circumstances that are usual or incidental to the We will not pay for any loss or damage if the unit described occupancy. where loss or damage occurs has been "vacant" or This condition does not apply if the Vacancy Per- "unoccupied" for more than: mit endorsement is attached. a. 30 consecutive days before that loss or dam- H. The following is added to Loss Conditions: age caused by Vandalism (if it is a Covered 10. Condominium Association Insurance Cause of Loss); or The Condominium Association may have other b. 60 consecutive days before that loss or dam- insurance covering the same property as this age if caused by any other Covered Cause of insurance. This insurance is intended to be ex- Loss; cess insurance, and not to contribute with that whether or not such vacancy or unoccupancy be- other insurance. gins before the inception of this policy. I. The Mortgageholders Additional Condition is deleted.