FIRE PE, INC. (3) - Laserfiche WebLink

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. Form SP 01 04 10 18 Page 1 of 2 © 2018, The Hartford (May include copyrighted material of Insurance Services Office, Inc., with its permission) CALIFORNIA CHANGES – SPECIAL PROPERTY COVERAGE FORM This endorsement modifies insurance provided under the following: SPECIAL PROPERTY COVERAGE FORM Except as otherwise stated in this endorsement, the terms and conditions of the Policy apply. A.The following changes are made to Section E.,PROPERTY LOSS CONDITIONS: 1.Paragraph 2.,Appraisal is deleted and replaced by the following: Appraisal If we and you disagree on the value of the property or the amount of loss, either may make written request for an appraisal of the loss.If the request is accepted,each party will select a competent and impartial appraiser.Each party shall notify the other of the appraiser selected within 20 days of the request.The two appraisers will select an umpire.If they cannot agree,after providing notice to the other party,within 15 days, either may request that selection be made by a judge of a court having jurisdiction.The appraisers will state separately the value of the property and 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. 2.With respect to an "Open Policy", Paragraph 5.d.(1)(b) of Loss Payment is deleted and replaced by: (b)We will not pay on a replacement cost basis for any loss or damage until the lost or damaged property is actually repaired or replaced,and then only subject to deduction for depreciation.Prior to such repair or replacement,and in accordance with the Loss Payment conditions in this Policy,we will pay the actual cash value of the lost or damaged property as described in this endorsement.If the actual cash value does not exhaust the applicable Limit of Insurance,we will then pay the difference between the actual cash value and the replacement cost,provided that the repair or replacement is completed: (i)Within 12 months after our payment of the actual cash value; or (ii)Within 36 months after our payment of the actual cash value if the loss or damage relates to a state of emergency under California Law; The following provision applies to real property which is used predominantly for residential purposes and consisting of not more than four dwelling units,and to coverage on tenants’household personal property in a residential unit. If you,acting in good faith and with reasonable diligence,encounter a delay or delays in approval for, or reconstruction of,the residence that are beyond your control,we shall provide one or more additional extensions of six months for good cause.Circumstances beyond your control include,but are not limited to: (i)Unavoidable construction permit delays; (ii)The lack of necessary construction materials; or (iii)The unavailability of contractors to perform the necessary work, The foregoing provisions do not constitute a waiver of our right to deny the claim for any valid reason or to restrict payment in cases of suspected fraud. 3.The following provision is added: Docusign Envelope ID: 9DF92A24-B534-85BA-8088-342315DF1839