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HomeMy WebLinkAboutProspectors Property Management - Insurance Certificatey, V. 02 This Spectrum Policy consists of the Declarations, Coverage Forms, Common Policy Conditions and any 77 other Forms and Endorsements issued to be a part of the Policy. This insurance is provided by the stock VK insurance company of The Hartford Insurance Group shown below. SBA INSURER: SENTINEL INSURANCE COMPANY, LIMITED ONE HARTFORD PLAZA, HARTFORD, CT 06155 COMPANY CODE: A Policy Number: 59 SBA VK7702 SC SPECTRUM POLICY DECLARATIONS Named Insured and Mailing Address: (No., Street, Town, State, Zip Code) PROSPECTORS PROPERTY MANAGEMENT INC. 17770 MONTEREY ROAD #A MORGAN HILL CA 95037 Policy Period: From 01/25/15 TO 01/25/16 1 YEAR 12:01 a.m., Standard time at your mailing address shown above. Exception: 12 noon in New Hampshire. Name of Agent/Broker: BURNS & WILCOX OF ARIZONA LTD Code: 305015 Previous Policy Number: 59 SBA VK7702 Named Insured Is: CORPORATION Audit Period: NON - AUDITABLE Type of Property Coverage: SPECIAL Insurance Provided: In return for the payment of the premium and subject to all of the terms of this policy, we agree with you to provide insurance as stated in this policy. TOTAL ANNUAL PREMIUM IS: $1,039 Countersigned by Form SS 00 0212 06 Process Date: 11/11/14 Authorized Representative 11/11/14 Date Page 001 (CONTINUED ON NEXT PAGE) Policy Expiration Date: 01/25/16 SPECTRUM POLICY DECLARATIONS (Continued) POLICY NUMBER: 59 SBA VK7702 Location(s), Building(s), Business of Named Insured and Schedule of Coverages for Premises as designated by Number below. Location: 001 Building: 001 17770 MONTEREY ROAD #A MORGAN HILL CA 95037 Description of Business: Real. Estate Agency Deductible: $ 250 PER OCCURRENCE BUILDING AND BUSINESS PERSONAL PROPERTY LIMITS OF INSURANCE BUILDING BUSINESS PERSONAL PROPERTY REPLACEMENT COST PERSONAL PROPERTY OF OTHERS REPLACEMENT COST MONEY AND SECURITIES INSIDE THE PREMISES OUTSIDE THE PREMISES Form SS 00 0212 06 Process Date: 11/11/14 NO COVERAGE $ 68,800 NO COVERAGE $ 10,000 $ 5,000 Page 002 (CONTINUED ON NEXT PAGE). Policy Expiration Date: 01/25/16 If' . i.. SPECTRUM POLICY DECLARATIONS (Continued) POLICY NUMBER: 59 SBA VK7702 Location(s), Building(s), Business of Named Insured and Schedule of Coverages for Premises as designated by Number below. Location: 001 , Building: 001 PROPERTY OPTIONAL COVERAGES APPLICABLE LIMITS OF INSURANCE TO THIS LOCATION COMPUTERS AND MEDIA COVERAGE FORM SS 04 41 DEDUCTIBLE: $ 250 WAITING PERIOD: 12 HOURS STRETCH COVERAGES FORM: SS 04,08 THIS FORM INCLUDES MANY ADDITIONAL COVERAGES AND EXTENSIONS OF COVERAGES. A SUMMARY OF THE COVERAGE LIMITS IS ATTACHED. SIGNS AWAY FROM THE INSURED PREMISES: FORM SS 40 25 SEE FORM IH 1200 FOR THE LOCATION OF THE SIGN. .LIMITED FUNGI, BACTERIA OR VIRUS COVERAGE: FORM SS 40 93 THIS IS THE MAXIMUM AMOUNT OF INSURANCE FOR THIS COVERAGE, SUBJECT TO ALL PROPERTY LIMITS FOUND ELSEWHERE ON THIS DECLARATION. INCLUDING BUSINESS INCOME AND EXTRA EXPENSE COVERAGE FOR: Form SS 00 0212 06 Process Date: 11/11/14 $ 15,000 $ 5,000 $ 50,000 30 DAYS Page 003 (CONTINUED ON NEXT PAGE). Policy Expiration Date: 01/25/16 It , SPECTRUM POLICY DECLARATIONS (Continued) POLICY NUMBER: 59 SBA VK7702 PROPERTY OPTIONAL COVERAGES APPLICABLE LIMITS OF INSURANCE TO ALL LOCATIONS BUSINESS INCOME AND EXTRA EXPENSE COVERAGE COVERAGE INCLUDES THE FOLLOWING COVERAGE EXTENSIONS: ACTION OF CIVIL AUTHORITY: EXTENDED BUSINESS INCOME: EQUIPMENT BREAKDOWN COVERAGE COVERAGE FOR DIRECT PHYSICAL LOSS DUE TO: MECHANICAL BREAKDOWN, ARTIFICIALLY GENERATED CURRENT AND STEAM EXPLOSION THIS ADDITIONAL COVERAGE INCLUDES THE FOLLOWING EXTENSIONS, HAZARDOUS SUBSTANCES EXPEDITING EXPENSES MECHANICAL BREAKDOWN COVERAGE ONLY APPLIES WHEN BUILDING OR BUSINESS PERSONAL PROPERTY IS SELECTED ON THE POLICY IDENTITY RECOVERY COVERAGE FORM SS 41 12 Form SS 00 0212 06 Process Date :11/11/14 12 MONTHS ACTUAL LOSS SUSTAINED 30 DAYS 30 CONSECUTIVE DAYS $ 50,000 $ 50,000 $ 15,000 Page004 (CONTINUED ON NEXT PAGE) Policy Expiration Date: 01/25/16 SPECTRUM POLICY DECLARATIONS (Continued) POLICY NUMBER: 59 SBA VK7702 BUSINESS LIABILITY LIABILITY AND MEDICAL EXPENSES MEDICAL EXPENSES - ANY ONE PERSON PERSONAL AND ADVERTISING INJURY DAMAGES TO PREMISES RENTED TO YOU ANY ONE PREMISES AGGREGATE LIMITS PRODUCTS- COMPLETED OPERATIONS GENERAL AGGREGATE Form SS 000212 06 Process Date: 11/11/14 LIMITS OF INSURANCE $1,000,000 $ 10,000 $1,000,000 $1,000,000 $2,000,000 $2,000,000 Page 005 (CONTINUED ON NEXT PAGE) Policy Ezplratlon Date: 01/25/16 . M. SPECTRUM. POLICY DECLARATIONS (Continued) POLICY NUMBER: 59 SBA VK7702. ADDITIONAL INSUREDS: THE FOLLOWING ARE ADDITIONAL INSUREDS FOR BUSINESS LIABILITY COVERAGE IN THIS POLICY. LOCATION 001 BUILDING 001 TYPE MANAGER LESSOR NAME SEE FORM IS 12 00 Form SS 00 02 12 06 Page 006 (CONTINUED ON NEXT PAGE) Process Dater 11/11/14 Policy Expiration Date: 01 /25/16 SPECTRUM POLICY DECLARATIONS (Continued) POLICY NUMBER: 59 SBA VK7702 Form Numbers of Forms and Endorsements that apply: SS 00 01 03 14 SS 00 05 10 08 SS 00 07 07 05 SS 00 45 12 06 SS 84 01 09 07 SS 01 21 06 14 SS 04 19 04 09 SS 04 22 07 05 SS 04 30 07 05 SS 04 41 04 09 SS 04 42 09 07 SS 04 44 07 05 SS 04 46 09 14 SS 04 47 04 09 SS 04 80 03 00 SS 40 18 07 05 SS 40 25 07 05 SS 40 93 07 05 SS 41 51 10 09 SS 41 62 06 11 SS 41 63 06 11 SS 05 01 09 12 SS 05 47 09 01 SS 50 57 04 05 IH 99 40 04 09 IH 99 41 04 09 SS 38 25 12 07 IH 12 00 11 85 SIGNS AWAY FROM THE INSURED PREMISES IH 12 00 11 85 ADDITIONAL INSURED - MANAGER /LESSOR SS 00 08 04 05 SS 04 08 09 07 SS 04 39 07 05 SS 04 45 07 05 SS 04 86 03 00 SS 41 12 12 07 IH 10 01 09 86 SS 50 19 03 12 SS 83 76 03 12 Form SS 00 02.12 06 page 007 Process Date: 11/11/14. Policy Expiration Date: 01/25/16 SPECTRUM POLICY DECLARATIONS (Continued) POLICY NUMBER: 59 SEA VK7702 SUPPLEMENTAL DECLARATIONS: A service fee of $ 7.,00 is charged for each installment when your premium is paid in installments. The service fee is $ 5.00 per withdrawal when you select an electronic fund transfer payment plan. The service fee will be added to the premium amount shown on your premium billing statement. Form SS 00 4512 06 Process Date: 11/11/14 Policy Expiration Date: 01/25/16 STRETCH SUMMARY SUMMARY OF COVERAGE LIMITS This is a summary of the Coverages and the Limits of Insurance provided by the Stretch Coverage form SS 04 08 which is included in this policy. No coverage is provided by this summary. Refer to coverage form SS 04 08 to determine the scope of your insurance protection. The Limit of Insurance for the following Additional Coverages are in addition to any other limit of insurance provided under this policy: Coverage Accounts Receivable - On/Off- Premises Brands and Labels Claim Expenses Computer Fraud Computers and Media Debris Removal Employee Dishonesty (including ERISA) Fine Arts Forgery Laptop Computers- World -Wide Coverage Off Premises Utility Services - Direct Damage Outdoor Signs Pairs or Sets Personal Property of Others Properly at Other Premises Salespersons' Samples Sewer and Drain Back Up Sump Overflow or Sump Pump Failure Temperature Change Tenant Building and Business Personal Property Coverage - Required by Lease Transit Property in the Care of Carriers for Hire Unauthorized Business Card Use Valuable Papers and Records - On /Off- Premises Limit $ 25,000 Up to Business Personal Property Limit $10,000 $ 5,000 $ 10,000. $ 25,000 $ 10,000 $ 10,000 $ 10,000 $ 5,000 $10,000 Full Value Up to Business Personal Property Limit $ 10,000 $ 10,000 $ 1,000 Included up to Covered Property Limits $ 15,000 $ 10,000 $ 20,000 $ 10,000 $ 2,500 $ 25,000 The Limits of Insurance for the following Coverage Extensions are a replacement of the Limit of Insurance provided underthe Standard Property Coverage Form or the Special Property Coverage Form, whichever applies to the policy: Coverage Newly Acquired or Constructed Property - 180 Days Building Business Personal Property Business Income and Extra Expense Outdoor Property Personal Effects Property Off - Premises Form SS 84 0109 07 © 2007, The Hartford Limit $1,000,000 $ 500,000 $ 500,000 $ 20,000 aggregate/ $1,000 per item $ 25,000 $ 15,000 Page 1 of 2 The following changes apply only if Business Income and Extra Expense are covered under this policy. The Limits of Insurance for the following Business Income and Extra Expense Coverages are in addition to any other Limit of Insurance provided underthis policy: Coverage Limit Business Income Extension for Off - Premises Utility Services $ 25,000 Business Income Extension for Web Sites $ 10,00017 days Business Income from Dependent Properties $ 25,000 The following Limit of Insurance for the following Business Income Coverage is a replacement of the Limit of Insurance provided under the Standard Property Coverage Form or the Special Property Coverage Form, whichever applies to the policy: Coverage Extended Business Income The following changes apply to Loss Payment Conditions: Coverage Valuation Changes Commodity Stock "Finished Stock" Mercantile Stock - Sold Limit 60 Days Limit Included Included Included Page 2 of 2 Form SS 84 01 09 07 Form SS 00 0510 08 COMMON POLICY CONDITIONS 0 2008, The Hartford QUICK REFERENCE - SPECTRUM POLICY DECLARATIONS and COMMON POLICY CONDITIONS I. DECLARATIONS Named Insured and Mailing Address Policy Period Description and Business Location Coverages and Limits of Insurance II. COMMON POLICY CONDITIONS Beginning on Page A Cancellation 1 B. Changes 1 C. Concealment, Misrepresentation Or Fraud 2 D. Examination Of Your Books And Records 2 E. Inspections And Surveys 2 F. Insurance Under Two Or More Coverages 2 G. Liberalization 2 H. Other Insurance - Property Coverage 2 I. Premiums 2 J. Transfer Of Rights Of Recovery Against Others To Us 2 K. Transfer Of Your Rights And Duties Under This Policy 3 L. Premium Audit 3 Form SS 00 0510 08 COMMON POLICY CONDITIONS All coverages of this policy are subject to the following conditions. A Cancellation 1. The first Named Insured shown in the Declarations may cancel this policy by mailing or delivering to us advance written notice of cancellation. 2. We may cancel this policy by mailing or delivering to the first Named Insured written notice of cancellation at least: a. 5 days before the effective date of cancellation if any one of the following conditions exists at any building that is Covered Property in this policy: (1) The building has been vacant or unoccupied 60 or more consecutive days. This does not apply to: (a) Seasonal unoccupancy; or (b) Buildings in the course of construction, renovation or addition. Buildings with 65% or more of the rental units or floor area vacant or unoccupied are considered unoccupied under this provision. (2) After damage by a Covered Cause of Loss, permanent repairs to the building: (a) Have not started; and (b) Have not been contracted for, within 30 days of initial payment of loss. (3) The building has: (a) An outstanding order to vacate; (b) An outstanding demolition order; or (c) Been declared unsafe by governmental authority. (4) Fixed and salvageable items have been or are being removed from the building and are not being replaced. This does not apply to such removal that is necessary or incidental to any renovation or remodeling. Form SS 00 05 10 08 (5) Failure to: (a) Furnish necessary heat, water, sewer service or electricity for 30 consecutive days or more, except during a period' of seasonal unoccupancy-, or . (b) Pay property taxes that are owing and have been outstanding for more than one year following the date due, except that this provision will not apply where you are in a bona fide dispute with the taxing authority regarding payment of such taxes. b. 10 days before the effective date of cancellation if we cancel for nonpayment of premium. c. 30 days before the effective date of cancellation if we cancel for any other reason. 3. We will mail or deliver our notice to the first Named Insured's last mailing address known to us. 4. Notice of- cancellation will state the effective date of cancellation. The policy period will end on that date. 5. If this policy is canceled, we will send the first Named Insured any premium refund due. Such refund will be pro rata. If the first Named Insured cancels, the refund may be less than pro rata. The cancellation will be effective even if we have not made or offered a refund. 6. If notice is mailed, proof of mailing will be sufficient proof of notice. B. Changes This policy contains all the agreements between you and us concerning the insurance afforded. The first Named Insured shown in the Declarations is authorized to make changes in the terms of this policy with our consent. This policys terms can be amended or waived only by endorsement issued by us and made a part of this policy.. 2008, The Hartford (Includes copyrighted material of Insurance Services Office, Inc. with its permission) Page 1 of 3 COMMON POLICY CONDITIONS C.. Concealment, Misrepresentation Or Fraud This policy is void in any case of fraud by you as it relates to this policy at any time. It is also void if you or any other insured, at anytime, intentionally conceal or misrepresent a material fad concerning: I. This policy, 2. The Covered Property, 3. Your interest in the Covered Property; or 4. A claim under this policy. D. Examination Of Your Books And Records We may examine and audit your books and records as they relate to the policy at any time during the policy period and up to three years afterward. E. Inspections And Surveys 1. We have the right but are not obligated to: a. Make inspections and surveys at anytime; b. Give you reports on the conditions we find; and c. Recommend changes. 2. Any inspections, surveys, reports or recommendations will relate only to insurability and the premiums to be charged. We do not make safety inspections. We do not undertake to perform the .duty of any person or organization to provide for the health or safety of any person. We do not represent or warrant that conditions: a. Are safe or healthful; or b. Comply with laws, regulations, codes or standards. 3. This condition applies not only to us, but also to any rating, advisory, rate service or similar organization which makes insurance inspections, surveys, reports or recommendations on our behalf. F. Insurance Under Two Or More Coverages If two or more of this policy's coverages apply to the same loss or damage, we will not pay more than the actual amount of the loss or damage. G. Liberalization If we adopt any revision that would broaden the coverage under this policy without additional premium within 45 days prior to, or at any time during, the policy period, the broadened coverage will immediately apply to this policy, H. Other Insurance -Property Coverage If there is other insurance covering the same loss or damage, we will pay only for the amount of covered loss or damage in excess of the amount due from that other 'insurance, whether you can collect on it or not. But we will not pay more than the applicable Limit of Insurance. I. Premiums 1. The first Named Insured shown in the Declarations: a. Is responsible for the payment of all premiums; and b. Will be the payee for any return premiums we pay. 2. The premium shown in the Declarations was computed based on rates in effect at the time the policy was issued. If applicable, on each renewal, continuation or anniversary of the effective date of this policy, we will compute the premium in accordance with our rates and rules then in effect. 3. With our consent, you may conti nue this policy in force by paying a continuation premium for each successive one -year period. The premium must be: a. Paid to us prior to the anniversary date; and b. Determined in accordance with Paragraph 2. above. Our forms then in effect will apply. If you do not pay the continuation premium, this policy will expire on the first anniversary date that we have not received the premium. 4. Changes in exposures or changes in your business operation, acquisition or use of locations that are not shown in the Declarations may occur during the policy period. If so, we may require an additional premium. That premium will be determined in accordance with our rates and rules then in effect. J. Transfer Of Rights Of Recovery Against Others To Us Applicable to Property Coverage: If any person or organization to or for whom we make payment under this policy has rights to recover damages from another, those rights are transferred to us to the extent of our payment. That person or organization must do everything necessary to secure our rights and must do nothing after loss to 'impair them. But you may waive your rights against another party in writing: 1. Prior to a loss to your Covered Property, or 2. After a loss to your Covered Property only if, at time of loss, that party is one of the following: Page 2 of 3 Form SS 00 0510 08 a. Someone insured by this insurance; b. A business firm: (1) Owned or controlled by you; or (2) That owns or controls you; or c. Yourtenant. You may also accept the usual bills of lading or shipping receipts limiting the liability of carriers. This will not restrict your insurance. K. Transfer Of Your Rights And Duties Under This Policy Your rights and duties under this policy may not be transferred without our written consent except in the case of death of an individual Named Insured. If you die, your rights and duties will be transferred to your legal representative but only while acting within the scope of duties as your legal representative. Until your legal representative is COMMON POLICY CONDITIONS appointed, anyone having proper temporary custody of your property will have your rights and duties but only with respect to that property. L. Premium Audit a. We will compute all premiums for this policy in accordance with our rules and rates. b. The premium amount shown in the Declarations is a deposit premium on At the close of each audit period we will compute the earned premium for that period. Any additional premium found to be due as a result of the audit are due and payable on notice to the first Named Insured. If the deposit premium paid for the policy term is greater than the earned premium, we will return the excess to the first Named Insured. c. The first Named Insured must maintain all records related to the coverage provided by this policy and necessary to finalize the premium audit, and send us copies of the same upon our request. Our President and Secretary have signed this policy. Where required by law, the Declarations page has also been countersigned by our duly authorized representative. .01 Terence Shields, Secretary ARM A. Napo.., President Form SS 00 0510 08 Page 3 of 3 �e± THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. CALIFORNIA CHANGES This endorsement modifies insurance provided under the following: COMMON POLICY CONDITIONS SPECIAL PROPERTY COVERAGE FORM STANDARD PROPERTY COVERAGE FORM BUSINESS LIABILITY COVERAGE FORM EMPLOYMENT PRACTICES LIABILITY COVERAGE FORM A. Paragraphs 2. and 3. of the Cancellation Common Policy Condition are replaced by the following: 2. All Policies in Effect for 60 Days Or Less: If this policy has been in effect for 60 days or less, and is not a renewal of a policy we have previously issued, we may cancel this policy by mailing or delivering to the first Named Insured at the mailing address shown in the policy and to the producer of record, advance written notice of cancellation, stating the reason for cancellation, at least: a. 10 days before the effective date of cancellation if we cancel for: (1) Nonpayment of premium; or (2) Discovery of fraud or material misrepresentation by: (a) Any insured or his or her representative in obtaining this insurance; or (b) You or your representative in pursuing a claim iunderthis policy. b. 30 days before the effective date of cancellation if we cancel for any other reason, 3. All Policies in Effect For More Than 60 Days a. If this policy has been in effect for more than 60 days, or is a renewal of a policy we issued, we may cancel this policy only upon the occurrence, after the effective date of the policy, of one or more of the following, or as permitted under applicable California law: (1) Nonpayment of premium, including payment due on a prior policy we issued and due during the current policy term covering the same risks. (2) Discovery of fraud or material misrepresentation by: (a) Any insured or , or her representative in btaining this insurance; or (b) You or your representative in pursuing a claim underthis policy. (3) A judgment by a court or an administrative tribunal that you have violated a California or Federal law, having as one of its necessary elements an act which materially increases any of the risks insured against. (4) Discovery of willful or grossly negligent acts or omissions, or of any violations of state laws or regulations establishing safety standards, by you or your representative, which materially increase any of the risks insured against. (5) Failure by you or your representative to implement reasonable Foss control requirements, agreed to by you as a condition of policy issuance, or which were conditions precedent to our use of a particular rate or rating plan, if that failure materially increases any of the risks insured against. (6) A determination by the Commissioner of Insurance that the: (a) Loss of, or changes in, our reinsurance covering all or part of the risk would threaten our financial integrity or solvency, or (b) Continuation of the policy coverage would: Form SS 012106 14 Page 1 of 4 0 2014, The Hartford I. Place us in violation of California law or the laws of the state where we are domiciled; or il. Threaten our solvency. (7) A change by you or your representative in the activities or property of the commercial or industrial enterprise, which results in a materially added, . increased or changed risk, unless the added, increased or changed risk is included in the policy. b. We will mail or deliver advance written notice of cancellation, stating the reason for cancellation, to the first Named Insured, at the mailing address shown in the policy, and to the producer of record, at least: (1) 10 days before the effective date of cancellation if we cancel for nonpayment of premium or discovery of fraud, or (2) 30 days before the effective date of cancellation if we cancel for any other reason listed in paragraph 3.a. B. The following provisions is added to the Cancellation Common Policy Condition:. 7. Residential Property This provision .applies to coverage on 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 such coverage is written under this policy: a. If such coverage has been in effect for 60 days or less, and is not a renewal of coverage we previously issued, we may cancel this coverage for any reason, except as provided in b. and c. below. b. We may not cancel solely because the first Named Insured has: (1) Accepted an offer of earthquake coverage; or (2) Cancelled or did not renew a policy issued by the California Earthquake Authority (CEA) that included and earthquake policy premium surcharge. However, we shall cancel this policy if the first. Named Insured has accepted a new or renewal policy issued by the CEA that includes an earthquake policy premium surcharge but fails to ,pay the earthquake policy premium surcharge authorized by the CEA, c. We may not cancel such coverage solely because corrosive soil conditions exist on the premises. This restriction (c.) applies only if coverage under the Special Property ,Coverage Form, which excludes loss or damage caused .by or resulting from corrosive soil conditions. C. The following is added and supersedes any provisions to the contrary NONRENEWAL 1. Subject to the provisions of paragraphs C2. and C.3. below, if we elect not to renew this policy, we will mail or deliver written notice stating the reason for nonrenewal to the first !Named Insured shown in the Declarations and to the producer of record, at least 60 days but not more than 120 days, before the expiration or anniversary date. We will mail or deliver our notice to the first Named Insured, and to the producer of record, at the mailing address shown in the policy. 2. Residential Property This provision applies to coverage on real property used predominantly for, residential purposes and consisting of not more than four dwelling units, and to coverage on tenants' household property contained in a residential unit, if such coverage is written under this policy. a.. We may elect not to renew such coverage for any reason, except as provided in b., c. and d. below: b. We will not refuse to renew such coverage solely because the first Named Insured has accepted an offer of earthquake coverage. However, the following applies only to insurers who are associated participating insurers as established by Cal. Ins. Code Section 10089.16. We may elect not to renew such coverage after the first Named Insured has accepted an offer of earthquake coverage, if one or more of the following reasons applies: (1) The nonrenewal is based on sound underwriting principles that relate to the coverages provided by this policy and that are consistent with the approved rating plan and related documents filed with the Department of Insurance as required by existing law; Page 2 of 4 Form SS 012106 14 (2) The Commissioner of Insurance finds that the exposure to potential losses will threaten our solvency or place us in a hazardous condition. A hazardous condition in which we make claims payments for losses resulting from an earthquake that occurred within the preceding two years and that required a reduction in policyholder surplus of at least 25% for payment of those claims; or (3) We haver (a) Lost or experienced a substantial reduction in the availability or scope of reinsurance coverage; or (b) Experienced a substantial increase in the premium charged for reinsurance coverage of our residential property insurance policies; and the Commissioner has approved a plan for the nonrenewals that is fair and equitable, and that is responsive to the changes in our reinsurance position. (c) We will not refuse to renew such coverage solely because the first Named Insured has cancelled or did not renew a policy, issued by the California Earthquake Authority that included an earthquake policy premium surcharge. (d) We will not refuse to renew such coverage solely because corrosive soil conditions exist on the premises. This restriction (d) applies only if coverage is subject to the Special Property Coverage Form, which excludes loss or damage caused by or resulting from corrosive soil conditions. 3. We are not required to send notice of nonrenewal in the following situations: a. If the transfer or renewal of a policy, without any changes in terms, conditions, or rates* ' is between us and a member of our insurance group. b. If the policy has been extended for 90 days or less, provided that notice has been given in accordance with paragraph C.I. c. If you have obtained replacement coverage, or if the first Named Insured has agreed, in writing, within 60 days of the termination of the policy, to obtain that coverage. d. If the policy is for a period of no more than 60 days and you are notified at the time of issuance that it will not be renewed. e. If the first Named Insured requests a change in the terms or conditions or risks covered by the policy within 60 days of the end of the policy period. f. If we have made a written offer to the first Named Insured, in accordance with the time frames shown in paragraph C.C., to renew the policy under changed terms or conditions or at an increased premium rate, when the increase exceeds 25 %. If there is an appraisal, we will still retain our right to deny the claim. D. The Concealment, Misrepresentation Or Fraud. Condition is replaced by the following with respect to loss of damage caused by fire: We do not provide coverage to the Insured who, whether before or after a loss, has committed fraud or intentionally concealed or misrepresented any material fact or circumstance concerning: 1. This Coverage Part; 2. The Covered Property, 3. That insured's interest in the Covered Property, or 4. A claim under this Coverage Part or Coverage Form.. E. The Concealment, Misrepresentation Or Fraud Condition is replaced by the following with respect to loss of damage caused by a Covered Cause of Loss other than fire: This Coverage Part is void if any insured, whether before or after a loss, has committed fraud or intentionally concealed or misrepresented any material fact or circumstance concerning: 1. This Coverage Part; 2. The Covered Property; That insured's interest in the Covered Property, or 4. A claim under this Coverage Part or Coverage Form. F. The Other Insurance — Property Coverage Condition is replaced by the following: If there is other insurance covering the same loss or damage, we will pay our share of the covered loss or damage. Our share is the proportion that the applicable limit of insurance bears to the limits of insurance of all insurance covering on same basis. Form SS 0121 0614 Page 3 of 4 .t ` G. Anywhere it may appear under this policy, the term relates to a state of emergency as described "spouse" includes a registered domestic partner in Section 8558 of the Government Code; under California Law. unless we extend the time period for good H. The Appraisal Property Loss Condition of the cause. Standard and Special Property Form is replaced The foregoing provisions do not constitute a by the following: waiver of our right to deny the claim for any valid If we and.you disagree on the value of the property reason or to restrict payment in cases of suspected fraud, or the amount o_ f loss, either may make written request for an appraisal of the loss. If the, request is 2. Actual cash value is determined as follows:. accepted, each party will select a competent and a. In the event of a total loss to a building or impartial appraiser. Each party shall, notify the other structure, actual cash value is calculated as of the appraiser selected within 20 days of the the Limit of Insurance applicable to that request. The two appraisers will select an umpire. If building or structure or the fair market value they cannot agree within 15 days, either may of the building or structure, which ever is request that selection be made by a judge of a court less. having jurisdiction. The appraisers will state b. In the event of a partial loss to a building or separately the value of the property and amount of structure, actual cash value is calculated as loss: If they fail to agree, they will submit their shown below, which ever is less: differences to the umpire. A decision agreed to by any two will be binding. Each party will: 1 The amount it would cost to repair, () P a. Pay its chosen appraiser; and rebuild or replace the property less a fair b. Bear the other expenses of the appraisal and and reasonable deduction for physical umpire equally. depreciation of the components of the building or structure that are normally If there is an appraisal, we will still retain our right to subject to repair or replacement during deny the claim. its useful life. Physical depreciation is I. With respect to an "Open Policy", the Loss based upon the condition of the property Payment Condition of the Standard and Special at the time of the loss; Property Form is amended by the following: (2) The limit of Insurance applicable to the 1. Paragraph 5.d.(1).(b). of the Loss Payment property. condition Is deleted and replaced by: c. In the event of a partial or total loss to We will not pay on a replacement cost basis for Covered Property other than a building or any loss or damage until the lost or damaged structure, actual cash value is calculated as property is actually repaired or replaced, and the lesser of the following: then only subject to deduction for depreciation. (1) The amount it would cost to repair or Prior to such repair or replacement, and in replace the property less a fair and accordance with the terms applicable Loss reasonable deduction for physical Payment conditions in this policy, we will pay the depreciation, based on the condition of actual cash value of the lost or damaged the property at the time of loss; or property as described in this endorsement. If the (2) The Limit of Insurance applicable to the actual cash value does not exhaust the property. applicable Limit of Insurance, we will then pay the difference between the actual cash value 3. An "Open Policy" is a policy under which the and the replacement cost, provided that the value of Covered Property is not fixed at policy repair or replacement is completed: inception, but is determined at the time of loss in a. Within 12 months after our payment of the accordance with policy provisions on valuation. actual cash value; or The term "open policy" does not apply to b. Within 24 months after our payment of the Covered Property that is subject to an Agreed . actual cash value if the loss or damage Value clause or similar clause that establishes an agreed value prior to loss, unless such clause has expired. Page 4 of 4 Form SS 012106 14 AO n;l THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. TEMPERATURE CHANGE This endorsement modifies insurance provided under the following: STANDARD PROPERTY COVERAGE FORM SPECIAL PROPERTY COVERAGE FORM This coverage applies only when it is indicated in the Declarations. The provisions of this policy apply to the coverage stated in this endorsement, except as indicated below. A We will pay for direct physical loss of or physical damage to "perishable stock" at the "scheduled premises" caused by or resulting from: 1. A change in temperature or humidity resulting from: (a) Mechanical breakdown or failure .of: (1) Stationary heating plants; or (2) Refrigerating, cooling or humidity control apparatus or equipment; But only while such plants, equipment or apparatus are at the "scheduled premises ". (b) Complete or partial failure of electric power, either on or away from your "scheduled premises ". Such failure of power must be due to conditions beyond your control; or 2. Contamination by a refrigerant. B. SELLING PRICE We will determine the value of finished "perishable stock" in the event of direct physical loss or physical damage at the selling price, as if no physical loss or physical damage had occurred less discounts and expenses you otherwise would have had. C. We will not pay for direct physical loss of or physical damage to "perishable stock" located: 1. On buildings; 2. In the open; or 3. In vehicles, other than trailers used for storage located within 1000 feet of the "scheduled premises'. D. EXCLUSIONS 1. The following exclusions under SECTION B - EXCLUSIONS are deleted: (a) Ordinance or Law; (b) Power Failure; and (c) Mechanical Breakdown in the Standard Property Coverage Form. 2. The following exclusions are added: We will not pay for direct physical loss or physical damage caused by or resulting from: (a) The disconnecting of any of the following systems from the source of power: (1) Refrigerating; (2) Cooling; or (3) Humidity control. (b) The loss of electrical power caused by the shutting off of any switch or other device used to control the flow of electric power or current. (c) The inability of an electrical utility company, your stationary heating plant or any other power source to provide sufficient heat or power due to: (1) Lack of fuel; (2) Lack of capacity to make enough heat or power; or (3) Order of the government. (d) Breaking of any glass that- is a permanent part of a refrigerating, cooling or humidity control unit. E. DEDUCTIBLE We will not pay for loss in any one occurrence unless the amount of loss exceeds the deductible stated in paragraph D.5. of the Standard Property Coverage Form or D.5. of the Special Property Coverage Form., unless a different deductible is stated in the Form SS 04 46 0914 Pagel o1`2 © 2014, The Hartford .t . Declarations for Temperature Change. We will then pay the amount of loss in excess of the deductible, up to the Limit of Insurance. F. LIMIT OF INSURANCE The most we will pay for direct physical loss or physical damage in any one occurrence is the Limit of Insurance for Temperature Change shown in the Declarations. G. ADDITIONAL CONDITIONS 1. We will pay for direct physical loss or physical damage under this Optional Coverage only when: (a) Such physical loss or physical damage is not covered elsewhere in this policy or any other policy that insures the "perishable stock" at the "scheduled premises "; and (b) This Temperature Change coverage is shown as a specific item of insurance in the Declarations. 2. In the event of physical loss or physical damage, none of the other coverages under this policy or any other policy will share in its payment unless the provisions of the policy are similar to the provisions of this Optional Coverage, 3. We will not pay more than the Limit of Insurance shown in the Declarations for the Temperature Change, Page 2 of 2 H. ADDITIONAL DEFINITIONS For the purpose of this insurance: 1. "Mechanical breakdown" means: (a) Breaking or separation of any mechanical part(s) other than gas pipes or lines; or (b) Burning out of any electrical motor servicing such unit; and requiring replacement of the damaged parts to become functional. But "mechanical breakdown" does not mean faulty operation or failure of equipment which results in temperature change but does not require replacement of broken parts. We will not pay for direct physical loss or physical damage to "perishable stock" caused by such faulty operation or failure of equipment. 2. "Perishable stock" means personal property: (a) Maintained under controlled conditions for its preservation; and (b) Susceptible to direct physical loss or physical damage if the controlled conditions change. Form S$ 04 46 09 14 't ,c POLICY NUMBER: 59 SBA VK7702 THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. SIGNS AWAY. FROM THE INSURED PREMISES Form 11-11120011 85 T SEQ. NO. 001 Printed In U.S.A. Page 001 Process Date: 11/11/14 Expiration Date 01/25/15 POLICY NUMBER: 59 SBA VK7702 THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. ADDITIONAL INSURED - MANAGER /LESSOR CITY OF GILROY ITS OFFICERS, REPRESENTATIVES, AGENTS AND EMPLOYEES 7351 ROSANNA STREET MORGAN HILL CALIFORNIA - 95037 Form IH 12 00 1185 T SEQ. NO. 002 Printed In U.S.A. Page 001 Process Date: 11/11/14 Expiration Date: 01/25/16 ,O ,& TTJ HARTFORD Named insured: PROSPECTORS PROPERTY MANAGEMENT Policy Number: 59 SBA VK7702 Effective Date: 01/25/15 Expiration Date: 01/25/16 Company Name: SENTINEL INSURANCE COMPANY, LIMITED THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. TRADE OR ECONOMIC SANCTIONS ENDORSEMENT This insurance does not apply to the extent that trade or economic sanctions or other laws or regulations prohibit us'from providing insurance, including, but not Limited to, the payment of claims. All other terms and conditions remain unchanged. Form IH 99 4104 09 Page 1 of 1 ,r IMPORTANT NOTICE TO OUR POLICYHOLDERS THANK YOU FOR RENEWING YOUR POLICY WITH THE HARTFORD. WITH THIS NOTICE WE ARE PROVIDING YOU ONLY WITH THE DECLARATIONS PAGE, WHICH OUTLINES YOUR COVERAGES, AND WITH THOSE POLICY FORMS, NOTICES, AND BROCHURES WHICH ARE DIFFERENT FROM THOSE WHICH WE PROVIDED WITH YOUR PREVIOUS POLICY. YOU SHOULD RETAIN ALL OF THESE DOCUMENTS AND THOSE PROVIDED WITH YOUR PREVIOUS POLICY INDEFINITELY SO THAT YOU WILL HAVE A COMPLETE SET OF POLICY FORMS AT ALL TIMES FOR YOUR REFERENCE. IF YOU HAVE QUESTIONS, OR IF AT ANY TIME YOU NEED COPIES OF ANY OF THE FORMS LISTED ON YOUR POLICY, PLEASE CALL YOUR HARTFORD AGENT OR BROKER, OR THE OFFICE OF THE HARTFORD IDENTIFIED ON YOUR POLICY, AS APPROPRIATE. Form G- 3187 -0 Insurance Policy Billing Information Thank you for selecting The Hartford for your business insurance needs. Shortly, you will receive your first bill from us. You are receiving this Notice so you know what to expect as a valued customer of The Hartford. Should you have any questions after reviewing this information, please contact us at 866467 -8730, and we will be happy to assist you. o Your total policy premium will appear on your policy's Declarations Page. You 'will be billed based on the payment plan you selected. o You may pay the "minimum due" as it appears on your insurance bill or pay the policy balance in full. • An installment service fee is added to each installment. A late fee will also be applied if the "minimum due" is not received by the due date shown on your bill. Service and late payment fees do not apply in all states. • If you selected installment billing, any credit or additional premium due as the result of a change made to your policy, will be spread over the remaining billing installments. Additional premium due as a result of an audit will be billed in full' on your next bill date following the completion of the audit. • If you elected Electronic Funds Transfer (EFT), policy changes may result in changes to the amount automatically withdrawn from your bank account. The invoice you receive following a policy change will include future withdrawal amounts. If you need to adjust or stop your next scheduled EFT withdrawal, please contact us at least 3 days prior to the scheduled withdrawal date at the telephone number shown below. • If you selected installment billing and pay the premiums for your first policy term on time, at renewal, your account may qualify for our "Equal Installment" feature. This means that the percentage due for each installment, including the initial renewal installment, will be the same throughout the policy term.— helping you better manage cash flow. Equal installments will continue as long as you pay your premiums on time and no cancellation notices are issued for any policy on your account. If you no longer qualify for Equal Installments, future renewals will be billed based on the payment plan you selected, which includes a higher initial installment amount. • If your policy is eligible for renewal, your bill for the upcoming policy term will be sent to you approximately 30 days prior to your policy's renewal date. If your insurance needs change, please contact us at least 60 days prior to your renewal date so we can properly address any adjustments needed. • One bill convenience — you have the option of combining all eligible Hartford policies on one single bill allowing you to make one payment for all policies on your account as payments are due. You're In Control In addition to selecting a bill plan option that best meets your budget, you have the flexibility to decide how your payments are made ... • Repetitive EFT: Sign up for Repetitive EFT payments and have payments automatically withdrawn from your bank account. This option saves you money by reducing the amount of the installment service fee. • Pay Online: Register at www .thehartford.com /Servicecenter. Online Bill Pay is Quick, Easy and Secure! • Pay by Check: Send a check with your .remittance stub in the envelope provided with your bill. • Pay by Phone: Call toll -free 1- 866 - 467 -8730. Should you have any questions about your bill, please call Customer Service toll -free number: 1- 866.467 -8730 - 7AM — 7PM CST. We look forward to being of service to you. Form 10072211th Rev. Printed in U.S.A. Business Owner's Policy Form SS 00 01 03 14 "I:F; elk r. Page 1 of 1 , 4� POLICY NUMBER: 59 SBA VK7702 THIS ENDORSEMENT IS ATTACHED TO AND MADE PART OF YOUR POLICY IN RESPONSE TO THE DISCLOSURE REQUIREMENTS OF THE TERRORISM RISK INSURANCE ACT. DISCLOSURE PURSUANT TO TERRORISM RISK INSURANCE ACT SCHEDULE Terrorism Premium (Certified Acts): $ $20.00 A. Disclosure Of Premium In accordance with the federal Terrorism Risk Insurance Act, as amended ("TRIA'), we are required to provide you with a notice disclosing the portion of your premium, if any, attributable to coverage for certified acts of terrorism under TRIA. The portion of .your premium attributable to such coverage is shown in the Schedule of this endorsement. B. Disclosure Of Federal Share Of Terrorism Losses The United States Department of the Treasury will reimburse insurers for 85% of that portion of insured losses attributable to "certified acts of terrorism" under TRIA that exceeds the applicable insurer deductible. However, if aggregate industry insured losses under TRIA exceed $100 billion in a Program Year (January 1 through December 31), the Treasury shall not make any payment for any portion of the amount of such losses, that exceeds $100 billion, The United States government has not charged any premium for their participation in covering terrorism losses. Form SS 83 76 0312 C. Cap On Insurer Liability for Terrorism Losses If aggregate industry insured losses attributable to "certified acts of terrorism" under TRIA exceed $100 billion in a Program Year (January 1 through December 31) and we have met, or will meet, our insurer deductible under TRIA, we shall not be liable for the payment of any portion of the amount of such losses that exceed $100 billion. In such case, your coverage for terrorism losses may be reduced on a pro -rata .basis in accordance with procedures established by the Treasury, based on its estimates of aggregate industry losses and our estimate that we will exceed our insurer deductible. In accordance with the Treasury's procedures, amounts paid for losses may be subject to further adjustments based on differences between actual losses and estimates. D. All other terms and conditions remain the same. © 2012, The Hartford (Includes copyrighted material of the Insurance Services Office, Inc., with its permission.) Page 1 of 1 'ye w, IMPORTANT NOTICE TO POLICYHOLDERS To help your insurance keep pace with increasing costs, we have increased your amount of insurance ... giving you better protection in case of either a partial, or total loss to your property. If you feel the new amount is not the proper one, please contact your agent or broker. Form PC -3740 Printed in U.S.A.