Laserfiche WebLink
f. The cost of repair or replacement does <br />not include the increased cost attributable <br />to enforcement of or compliance with any <br />ordinance or law regulating the <br />construction, use or repair of any <br />property. <br />4. Extension Of Replacement Cost To <br />Personal Property Of Others <br />a. If the Replacement Cost Optional Cov- <br />erage is shown as applicable in the <br />Declarations, then this Extension may also <br />be shown as applicable. If the <br />Declarations show this Extension as <br />applicable, then Paragraph 3.b.(1) of the <br />Replacement Cost Optional Coverage is <br />deleted and all other provisions of the <br />Replacement Cost Optional Coverage <br />apply to replacement cost on personal <br />property of others. <br />b. With respect to replacement cost on the <br />personal property of others, the following <br />limitation applies: <br />If an item(s) of personal property of others <br />is subject to a written contract which <br />governs your liability for loss or damage <br />to that item(s), then valuation of that <br />item(s) will be based on the amount for <br />which you are liable under such contract, <br />but not to exceed the lesser of the <br />replacement cost of the property or the <br />applicable Limit of Insurance. <br />H. Definitions <br />1. "Fungus" means any type or form of fungus, <br />including mold or mildew,and any mycotoxins, <br />spores, scents or by-products produced or <br />released by fungi. <br />2. "Pollutants" means any solid, liquid, gaseous <br />or thermal irritant or contaminant, including <br />smoke, vapor, soot, fumes, acids, alkalis, <br />chemicals and waste. Waste includes <br />materials to be recycled, reconditioned or <br />reclaimed. <br />3. "Stock" means merchandise held in storage or <br />for sale, raw materials and in -process or <br />finished goods, including supplies used in <br />their packing or shipping. <br />Page 16 of 16 © Insurance Services Office,lnc., 2011 <br />�oRaN <br />} z <br />RiskMmVmedDMsfan <br />REVIEWED & APPROVED BY.- <br />f R. V;&wd <br />Risk Management Analyst <br />