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CNA CNA PARAMOUNT <br />First Party Terms and Conditions <br />3. Fine arts: the appraised market value as of the time, and at the place, of loss or damage. In case of loss to <br />any part of a pair or set, the Insurer may: <br />a. repair or replace any part to restore the pair or set to its value before the loss; or <br />b. pay the difference between the value of the pair or set before and after the loss. <br />4. Glass: replacement cost, including the costs and expenses incurred to put up temporary plates or board up <br />openings and to remove or replace obstructions when repairing or replacing glass that is part of a building, <br />but not including the removal or replacement of window displays. <br />5. Goods in process: the value of raw stock, the Named Insured's labor expended and other materials <br />incorporated and the cost to repurchase proprietary property licenses, plus the proper proportion of overhead <br />charges. <br />6. Media: for media for which duplicates do not exist, the full cost incurred to research and reproduce a master <br />copy of such media plus the cost of the blank materials on which it resides. For media for which duplicates <br />do exist, the cost incurred for the labor to transcribe or copy such media, plus the cost of the blank materials <br />on which it resides. <br />If the media is not reproduced or replaced, the loss will be valued at the cost to replace the blank material on <br />which the media resides with substantially identical type of such blank materials. <br />7. Merchandise which has been sold and not delivered and finished stock: the regular cash selling price, less <br />all costs to complete the sale and discounts and charges to which such finished stock or merchandise <br />would have been subject had no loss or damage occurred. <br />8. Money or securities: <br />Money: only up to and including its face value. <br />Securities: only up to and including their value at the close of business on the day the loss was discovered. <br />9. Outdoor trees, shrubs, plants or lawns: the reasonable and necessary costs of a qualified contractor to <br />remove the damaged tree, shrub, plant or lawn from the location or reported unspecified location and the <br />replacement of such property with similar type, size and quality as the damaged property including <br />reasonable repairing and replanting costs. No payment will be made for the replacement, repairing or <br />replanting of such property until the repairing, replacement and replanting is completed. Damaged outdoor <br />trees, shrubs, plants or lawns not replaced within 12 months from the date of the loss have no value. <br />10. Property for sale, other than stock or merchandise, the lesser of the: <br />a. replacement cost; <br />b. the selling price; or <br />c. actual cash value. <br />11. Property in transit: <br />Property under invoice, at the actual invoice cost, including prepaid freight, together with such cost and <br />charges since shipment as may have accrued and become legally due thereon. <br />b. Property not under invoice, in accordance with the valuation provisions of this Policy, less any charges <br />saved which would have become due and payable upon delivery at destination. <br />12. Research and development project property: the actual cost necessary to: <br />a. research, recreate, repair or replace the research and development project property, including the cost <br />of materials and supplies; and <br />CNA62647XX 10-15 <br />Copyright CNA All Rights Reserved. <br />a r N Risk MmRgmertt DiAsian <br />3 REVIEWED & APPROVED BY.- <br />E� Risk Management Analyst <br />