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§3404(e)
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FIRST PAGE OF STANDARD FIRE POLICY
No. ............
[Space for insertion of name of company or companies issuing the
policy and other matter permitted to be stated at the head of the
policy.]
[Space for listing amounts of insurance, rates and premiums for the
basic coverages insured under the standard form of policy and for
additional coverages or perils insured under endorsements attached.]
In Consideration of the Provisions and Stipulations herein or added
hereto and of .......................................... Dollars Premium
this Company, for the term of ........, from the ........ day of
........, 19.. to the ........ day of ........, 19.. at noon, Standard
Time, at location of property involved, does insure
......................... and legal representatives, TO THE LESSER
AMOUNT OF EITHER:
.1) THE ACTUAL CASH VALUE OF THE PROPERTY AT THE TIME OF THE LOSS, OR
2) THE AMOUNT WHICH IT WOULD COST TO REPAIR OR REPLACE THE PROPERTY
WITH MATERIAL OF LIKE KIND AND QUALITY WITHIN A REASONABLE TIME AFTER
SUCH LOSS, WITHOUT ALLOWANCE FOR ANY INCREASED COST OF REPAIR OR
RECONSTRUCTION BY REASON OF ANY ORDINANCE OR LAW REGULATING CONSTRUCTION
OR REPAIR, AND WITHOUT COMPENSATION FOR LOSS RESULTING FROM INTERRUPTION
OF BUSINESS OR MANUFACTURE, OR
3) TO AN AMOUNT NOT EXCEEDING ................ DOLLARS, BUT IN ANY
EVENT FOR NO MORE THAN THE INTEREST OF THE INSURED, AGAINST ALL DIRECT
LOSS BY FIRE, LIGHTNING AND BY REMOVAL FROM PREMISES ENDANGERED BY THE
PERILS INSURED AGAINST IN THIS POLICY, EXCEPT AS HEREINAFTER PROVIDED,
to the property described hereinafter while located or contained as
described in this policy, or pro rata for five days at each proper place
to which any of the property shall necessarily be removed for
preservation from the perils insured against in this policy, but not
elsewhere.
Assignment of this policy shall not be valid except with the written
consent of this Company.
This policy is made and accepted subject to the foregoing provisions
and stipulations and those hereinafter stated, which are hereby made a
part of this policy, together with such other provisions, stipulations
and agreements as may be added hereto, as provided in this policy.
In Witness Whereof, this Company has executed and attested these
presents; but this policy shall not be valid unless countersigned by the
duly authorized Agent of this Company at ...............................
........................................................................
........................................................................
Secretary. President.
Countersigned this .... day of ....., 19 .... ......................
Agent.
SECOND PAGE OF STANDARD FIRE POLICY
Concealment, fraud. This entire policy shall be void if, whether
before or after a loss, the insured has wilfully concealed or
misrepresented any material fact or circumstance concerning this
insurance or the subject thereof, or the interest of the insured
therein, or in case of any fraud or false swearing by the insured
relating thereto.
Uninsurable and excepted property. This policy shall not cover
accounts, bills, currency, deeds, evidences of debt, money or
securities; nor, unless specifically named hereon in writing, bullion or
manuscripts.
Perils not included. This company shall not be liable for loss by fire
or other perils insured against in this policy caused, directly or
indirectly, by: (a) enemy attack by armed forces, including action taken
by military, naval or air forces in resisting an actual or an
immediately impending enemy attack; (b) invasion; (c) insurrection; (d)
rebellion; (e) revolution; (f) civil war; (g) usurped power; (h) order
of any civil authority except acts of destruction at the time of and for
the purpose of preventing the spread of fire, provided that such fire
did not originate from any of the perils excluded by this policy; (i)
neglect of the insured to use all reasonable means to save and preserve
the property at and after a loss, or when the property is endangered by
fire in neighboring premises; (j) nor shall this Company be liable for
loss by theft.
Other Insurance. Other insurance may be prohibited or the amount of
insurance may be limited by endorsement attached hereto.
Conditions suspending or restricting insurance. Unless otherwise
provided in writing added hereto this Company shall not be liable for
loss occurring (a) while the hazard is increased by any means within the
control or knowledge of the insured; or (b) while a described building,
whether intended for occupancy by owner or tenant, is vacant or
unoccupied beyond a period of sixty consecutive days; or (c) as a result
of explosion or riot, unless fire ensue, and in that event for loss by
fire only.
Other perils or subjects. Any other peril to be insured against or
subject of insurance to be covered in this policy shall be by
endorsement in writing hereon or added hereto.
Added provisions. The extent of the application of insurance under
this policy and of the contribution to be made by this Company in case
of loss, and any other provision or agreement not inconsistent with the
provisions of this policy, may be provided for in writing added hereto,
but no provision may be waived except such as by the terms of this
policy is subject to change.
Waiver provisions. No permission affecting this insurance shall exist,
or waiver of any provision be valid, unless granted herein or expressed
in writing added hereto. No provision, stipulation or forfeiture shall
be held to be waived by any requirement or proceeding on the part of
this Company relating to appraisal or to any examination provided for
herein.
Cancellation of policy. This policy shall be cancelled at any time at
the request of the insured, in which case this Company shall, upon
demand and surrender of this policy, refund the excess of paid premium
above the customary short rates for the expired time. This policy may be
cancelled at any time by this Company by giving to the insured a five
days' written notice of cancellation with or without tender of the
excess of paid premium above the pro rata premium for the expired time,
which excess, if not tendered, shall be refunded on demand. Notice of
cancellation shall state that said excess premium (if not tendered) will
be refunded on demand.
Mortgagee interests and obligations. If loss hereunder is made
payable, in whole or in part, to a designated mortgagee not named herein
as the insured, such interest in this policy may be cancelled by giving
to such mortgagee a ten days' written notice of cancellation.
If the insured fails to render proof of loss such mortgagee, upon
notice, shall render proof of loss in the form herein specified within
sixty (60) days thereafter and shall be subject to the provisions hereof
relating to appraisal and time of payment and of bringing suit. If this
Company shall claim that no liability existed as to the mortgagor or
owner, it shall, to the extent of payment of loss to the mortgagee, be
subrogated to all the mortgagee's rights of recovery, but without
impairing mortgagee's right to sue; or it may pay off the mortgage debt
and require an assignment thereof and of the mortgage. Other provisions
relating to the interests and obligations of such mortgagee may be added
hereto by agreement in writing.
Pro rata liability. This Company shall not be liable for a greater
proportion of any loss than the amount hereby insured shall bear to the
whole insurance covering the property against the peril involved,
whether collectible or not.
Requirements in case loss occurs. The insured shall give immediate
written notice to this Company of any loss, protect the property from
further damage, forthwith separate the damaged and undamaged personal
property, put it in the best possible order, furnish a complete
inventory of the destroyed, damaged and undamaged property, showing in
detail quantities, costs, actual cash value and amount of loss claimed;
and within sixty days after the loss, unless such time is extended in
writing by this Company, the insured shall render to this Company a
proof of loss, signed and sworn to by the insured, stating the knowledge
and belief of the insured as to the following: the time and origin of
the loss, the interest of the insured and of all others in the property,
the actual cash value of each item thereof and the amount of loss
thereto, all encumbrances thereon, all other contracts of insurance,
whether valid or not, covering any of said property, any changes in the
title, use, occupation, location, possession or exposures of said
property since the issuing of this policy, by whom and for what purpose
any building herein described and the several parts thereof were
occupied at the time of loss and whether or not it then stood on leased
ground, and shall furnish a copy of all the descriptions and schedules
in all policies and, if required, verified plans and specifications of
any building, fixtures or machinery destroyed or damaged. The insured,
as often as may be reasonably required, shall exhibit to any person
designated by this Company all that remains of any property herein
described, and submit to examinations under oath by any person named by
this Company, and subscribe the same; and, as often as may be reasonably
required, shall produce for examination all books of account, bills,
invoices and other vouchers, or certified copies thereof if originals be
lost, at such reasonable time and place as may be designated by this
Company or its representative, and shall permit extracts and copies
thereof to be made.
Appraisal. In case the insured and this Company shall fail to agree as
to the actual cash value or the amount of loss, then, on the written
demand of either, each shall select a competent and disinterested
appraiser and notify the other of the appraiser selected within twenty
days of such demand. The appraisers shall first select a competent and
disinterested umpire; and failing for fifteen days to agree upon such
umpire, then, on request of the insured or this Company, such umpire
shall be selected by a judge of a court of record in the state in which
the property covered is located. The appraisers shall then appraise the
loss, stating separately actual cash value and loss to each item; and,
failing to agree, shall submit their differences, only, to the umpire.
An award in writing, so itemized, of any two when filed with this
Company shall determine the amount of actual cash value and loss. Each
appraiser shall be paid by the party selecting him and the expenses of
appraisal and umpire shall be paid by the parties equally.
Company's options. It shall be optional with this Company to take all,
or any part, of the property at the agreed or appraised value, and also
to repair, rebuild or replace the property destroyed or damaged with
other of like kind and quality within a reasonable time, on giving
notice of its intention so to do within thirty days after the receipt of
the proof of loss herein required.
Abandonment. There can be no abandonment to this Company of any
property.
When loss payable. The amount of loss for which this Company may be
liable shall be payable sixty days after proof of loss, as herein
provided, is received by this Company and ascertainment of the loss is
made either by agreement between the insured and this Company expressed
in writing or by the filing with this Company of an award as herein
provided.
Suit. No suit or action on this policy for the recovery of any claim
shall be sustainable in any court of law or equity unless all the
requirements of this policy shall have been complied with, and unless
commenced within twenty-four months next after inception of the loss.
Subrogation. This Company may require from the insured an assignment
of all right of recovery against any party for loss to the extent that
payment therefor is made by this Company.
THIRD PAGE OF STANDARD FIRE POLICY
ATTACH FORM BELOW THIS LINE
BACK OF STANDARD FIRE POLICY
(OPTIONAL)
Standard Fire Insurance Policy of the States of
Expires _______________________________________
Property ______________________________________
Assured _______________________________________
No. _______________________
(COMPANY)
It is important that the written portions of all
policies covering the same property read exactly
alike. If they do not, they should be made uniform
at once.
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