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PPB 301 01 18 Page 6 of 10 b. Payments under this Additional Coverage are subject to and not in addition to the applicable Limit of Insurance. 12. Fine Arts a. When a Limit of Insurance is shown in the Declarations for Business Personal Property at any described premises, we will pay for direct physical loss of or damage to “fine arts” which are owned by: (1) You; or (2) Others and in your care, custody, or control. We will pay for loss of or damage to “fine arts” caused by or resulting from a Covered Cause of Loss anywhere in the coverage territory. b. Regardless of the number of premises described the most we will pay for loss or damage under this Additional Coverage in any one occurrence is $100,000 unless a higher limit is shown in the Declarations. The amount we pay under this Additional Coverage is in addition to the Limits of Insurance of SECTION I – PROPERTY. c. The breakage limitation under Paragraph A.4.b.(2) does not apply to this Additional Coverage. d. The following are the only exclusions that apply to this Additional Coverage: (1) We will not pay for loss or damage caused by or resulting from wear and tear, any quality in the property that causes it to damage or destroy itself, gradual deterioration, insects, birds, rodents or other animals; (2) We will not pay for loss or damage caused by or resulting from dampness or dryness of atmosphere, or changes in or extremes of temperature; (3) We will not pay for loss or damage caused by or resulting from any repairing, restoration or retouching process; (4) Paragraph B.,1.,c. Governmental Action; (5) Paragraph B.,1.,d. Nuclear Hazard; (6) Paragraph B.,1.,f. War And Military Action; (7) Paragraph B.,2.,k. Neglect. e. With the exception of architectural models, the value of “fine arts” will be the least of the following amounts: (1) The “market value” of the property at the time of loss; (2) The cost of reasonably restoring that prop- erty to its condition immediately before the loss; or (3) The cost of replacing that property with substantially identical property. f. For architectural models the value will be determined based on the following: (1) If the architectural model is repaired or rebuilt, the value will be the cost to repair or rebuild, without deduction for depreciation; but (2) If the architectural model is not repaired or rebuilt the value will be the lesser of: (a) Actual cash value of the property at the time of loss; or (b) The cost of reasonably restoring that property to its condition immediately before the loss. g. In the event of loss, the value of property will be determined as of the time of loss. h. The following are added to Paragraph E. Property Loss Conditions under SECTION I – PROPERTY: (1) In the case of loss to any pair or set we will: (a) Repair or replace any part to restore the pair or set to its value before the loss; or (b) Pay the difference between the value of the pair or set before and after the loss. (2) You must arrange for the “fine arts” to be packed and unpacked by competent packers. 13. Newly Acquired Or Constructed Property For Buildings And Business Personal Property These Coverage Extensions are changed as follows: a. The limit applicable to Coverage Extension a. Newly Acquired Or Constructed Property, (1) Buildings is increased to $1,000,000. b. The limit applicable to Coverage Extension a. Newly Acquired Or Constructed Property, (2) Business Personal Property is increased to $500,000. 14. Business Personal Property Off Premises The following replaces Coverage Extension b. Business Personal Property Off Premises: b. Business Personal Property Off Premises (1) When a Limit of Insurance is shown in the Declarations for Business Personal Property at the described premises, you may extend the limit of insurance to apply to direct physical loss of or damage to such property caused by or resulting from a Covered Cause of Loss while: Exhibit B Docusign Envelope ID: 7D12103B-E5DC-46A2-B6BA-3BD5268ECDA5