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PPB 101 01 22 Contains copyrighted material of Insurance Services Office, Inc. Page 23 of 49 (2) Multiply the number calculated in accor- dance with b.(1) by the number of days since the beginning of the current policy year, or the effective date of the most recent policy change amending the Building limit, divided by 365. Example: If: The applicable Building limit is $100,000. The annual percentage increase is 4%. The number of days since the beginning of the policy year (or last policy change) is 146. The amount of increase is $100,000 x.04 x 146 ÷ 365 = $1600. 4. Business Personal Property Limit – Seasonal Increase a. Subject to Paragraph 5.b., the Limit of Insurance for Business Personal Property is automatically increased by: (1) The Business Personal Property – Sea- sonal Increase percentage shown in the Declarations; or (2) Twenty-five percent (25%) if no Business Personal Property – Seasonal Increase percentage is shown in the Declarations; to provide for seasonal variances. b. The increase described in Paragraph 5.a will apply only if the Limit of Insurance shown for Business Personal Property in the Dec- larations is at least one hundred percent (100%) of your average monthly values during the lesser of: (1) The twelve (12) months immediately preceding the date the loss or damage occurs; or (2) The period of time you have been in business as of the date the loss or damage occurs. D. Deductibles 1. We will not pay for loss or damage in any one occurrence until the amount of loss or damage exceeds the Deductible shown in the Declarations. We will then pay the amount of loss or damage in excess of the Deductible up to the applicable Limit of Insurance of SECTION I – PROPERTY. 2. Regardless of the amount of the Deductible, the most we will deduct from any loss or damage under all of the following Optional Coverages in any one occurrence is the Optional Coverage Deductible shown in the Declarations: a. Money and Securities; b. Employee Dishonesty; c. Outdoor Signs; and d. Forgery or Alteration. But this Optional Coverage Deductible will not increase the Deductible shown in the Declarations. This Deductible will be used to satisfy the requirements of the Deductible in the Declarations. 3. No deductible applies to the following Additional Coverages: a. Fire Department Service Charge; b. Business Income; c. Extra Expense; d. Civil Authority; and e. Fire Extinguisher Systems Recharge Expense. E. Property Loss Conditions 1. Abandonment There can be no abandonment of any property to us. 2. Appraisal If we and you disagree on the amount of loss, either may make written demand for an appraisal of the loss. In this event, each party will select a competent and impartial appraiser. The two appraisers will select an umpire. If they cannot agree, either may request that selection be made by a judge of a court having jurisdiction. The appraisers will state separately the amount of loss. If they fail to agree, they will submit their differences to the umpire. A decision agreed to by any two will be binding. Each party will: a. Pay its chosen appraiser; and b. Bear the other expenses of the appraisal and umpire equally. If there is an appraisal, we will still retain our right to deny the claim. 3. Duties In The Event Of Loss Or Damage a. You must see that the following are done in the event of loss or damage to Covered Property: (1) Notify the police if a law may have been broken. (2) Give us prompt notice of the loss or damage. Include a description of the property involved. (3) As soon as possible, give us a description of how, when and where the loss or damage occurred. Exhibit B Docusign Envelope ID: 7D12103B-E5DC-46A2-B6BA-3BD5268ECDA5