PATRICIA JOHNSON (FIRST AMENDMENT)

BUSINESSOWNER’S POLICY Page 22 of 48 Includes copyrighted material of the Insurance Services Office, Inc., used with its permission. BP 00 03 01 10 b. We may examine any insured under oath, while not in the presence of any other in- sured and at such times as may be rea- sonably required, about any matter relating to this insurance or the claim, including an insured's books and records. In the event of an examination, an insured's answers must be signed. 4. Legal Action Against Us No one may bring a legal action against us un- der this insurance unless: a. There has been full compliance with all of the terms of this insurance; and b. The action is brought within two years after the date on which the direct physical loss or damage occurred. 5. Loss Payment In the event of loss or damage covered by this policy: a. At our option, we will either: (1) Pay the value of lost or damaged prop- erty; (2) Pay the cost of repairing or replacing the lost or damaged property; (3) Take all or any part of the property at an agreed or appraised value; or (4) Repair, rebuild or replace the property with other property of like kind and qual- ity, subject to Paragraph d.(1)(e) below. b. We will give notice of our intentions within 30 days after we receive the sworn proof of loss. c. We will not pay you more than your finan- cial interest in the Covered Property. d. Except as provided in Paragraphs (2) through (7) below, we will determine the value of Covered Property as follows: (1) At replacement cost without deduction for depreciation, subject to the following: (a) If, at the time of loss, the Limit of Insurance on the lost or damaged property is 80% or more of the full replacement cost of the property immediately before the loss, we will pay the cost to repair or replace, af- ter application of the deductible and without deduction for depreciation, but not more than the least of the fol- lowing amounts: (i) The Limit of Insurance under Section I – Property that applies to the lost or damaged property; (ii) The cost to replace, on the same premises, the lost or damaged property with other property: i. Of comparable material and quality; and ii. Used for the same purpose; or (iii) The amount that you actually spend that is necessary to repair or replace the lost or damaged property. If a building is rebuilt at a new prem- ises, the cost is limited to the cost which would have been incurred had the building been built at the original premises. (b) If, at the time of loss, the Limit of Insurance applicable to the lost or damaged property is less than 80% of the full replacement cost of the property immediately before the loss, we will pay the greater of the follow- ing amounts, but not more than the Limit of Insurance that applies to the property: (i) The actual cash value of the lost or damaged property; or (ii) A proportion of the cost to repair or replace the lost or damaged property, after application of the deductible and without deduction for depreciation. This proportion will equal the ratio of the applica- ble Limit of Insurance to 80% of the cost of repair or replacement. (c) You may make a claim for loss or damage covered by this insurance on an actual cash value basis in- stead of on a replacement cost ba- sis. In the event you elect to have loss or damage settled on an actual cash value basis, you may still make a claim on a replacement cost basis if you notify us of your intent to do so within 180 days after the loss or damage. (d) We will not pay on a replacement cost basis for any loss or damage: (i) Until the lost or damaged prop- erty is actually repaired or re- placed; and EXHIBIT B Docusign Envelope ID: 719DA141-AC44-83B6-8162-C79EED148CD3