COMMERCIAL GENERAL LIABILITY CUS GL 238 (08/17)

EXCLUSION – REAL ESTATE DEVELOPMENT

It is hereby agreed that:

(1) This policy does not provide insurance coverage or defense for claims, loss, costs, and/or expenses arising out of Real Estate Development. As used in this endorsement, Real Estate Development means:

(a) Structural alterations that involve changing the size of or moving buildings or other structures owned by, occupied by, rented to, or leased to any insured; (b) New construction or demolition operations performed on any such buildings or structures; (c) Any contracting or construction work at insured premises described as "Vacant Land" in the schedule.

(2) The Named Insured expressly agrees and warrants as follows:

(a) The premises insured by this policy as vacant land will remain vacant during the Policy Period; (b) The Named Insured will not engage in any Real Estate Development as defined herein.

Failure of the Named Insured to comply with these agreements and warranties shall invalidate this policy with respect to the premises involved. In that event, this policy shall not apply to injury or damage arising out of:

(a) The ownership, maintenance, or use of the premises or of any property located thereon; (b) Operations on such premises or elsewhere that are necessary or incidental to the ownership, maintenance, or use of such premises; or (c) Goods or products manufactured at or distributed from such premises.

(3) Where there is no coverage, there is no duty to defend.

(4) This policy does not afford coverage for injunctive relief actions brought to prevent Real Estate Development.

DRAFT

Nothing herein contained shall be held to vary, alter, waive or extend any of the terms, conditions, provisions, agreements or limitations of the above-mentioned policy, other than as above stated.

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