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2. PER OCCURRENCE BASIS. If the deductible amount indicated in the Schedule is on a per "occurrence" <br />basis, that deductible amount applies as follows; <br />a. Under Bodily Injury Liability Coverage, to all damages because of "bodily injury"; <br />b. Under Property Damage Liability Coverage, to all damages because of "property damage'; or <br />c. Under Bodily Injury and Property Damage Liability Coverage Combined, to all damages because of: <br />(1) "Bodily injury"; <br />(2) "Property damage'; or <br />(3) 'Bodily injury" and "property damage" combined <br />as the result of any one 'occurrence", regardless of the number of persons or organizations who sustain <br />damages because of that "occurrence". <br />3. PER ITEM BASIS. If the deductible amount indicated in the Schedule is on a per item basis, that <br />deductible amount applies under Property Damage Liability Coverage, to each item damaged because of <br />"property damage" sustained by one person or organization as the result of any one'occurrence". <br />C. The deductible amount stated in the Schedule applies to loss, legal expense, and our "Allocated Loss <br />Adjustment Expense" incurred, whether or not payment is made to the claimant, compromise settlement is <br />reached or the claim is denied. <br />D. The terms of this insurance, including those with respect to: <br />1. Our right and duty to defend the insured against any "suits" seeking those damages; and <br />2. Your duties in the event of an 'occurrence", claim or "suit" <br />apply irrespective of the application of the deductible amount. <br />E. We may, at our sole election and option, either: <br />1. Pay any part or all of the deductible amount to effect settlement of any claim or "suit' and upon <br />notification of the action taken, you will promptly reimburse us for such part of the deductible amount as <br />has been paid by us; or <br />2. Upon our receipt of notice of any claim or at any time thereafter, request you to pay and deposit with us <br />all or any part of the deductible amount, to be held and applied according to the terms of this policy. <br />F. The following is added to the Definitions section: <br />"Allocated Loss Adjustment Expense" will include all costs and expenses incurred by us in investigating and <br />adjusting any loss, with the exception of salary and overhead. <br />All other terms and conditions of this policy remain unchanged. <br />L850(05le9) <br />Includes copyrighted malerlal of Insurance services Office, Inc., with Its permission. Page 2 of 2 <br />