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THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY <br />CHANGES - ACTUAL CASH VALUE <br /> <br />This endorsement modifies insurance provided under the following: <br /> <br />COMMERCIAL PROPERTY COVERAGE PART <br />INLAND MARINE COVERAGE PART <br />CRIME COVERAGE PART <br /> <br />The following is added to any provision which uses the term actual cash value: <br />Actual cash value is calculated as the amount it would cost to repair or replace Covered Property, at the <br />time of loss or damage, with material of like kind and quality, subject to a deduction for depreciation. <br />However, if Covered Property, at the time of loss or damage, has nominal or no economic value, or a <br />value disproportionate to replacement cost less depreciation, the determination of actual cash value as <br />set forth above is not required. <br />Actual cash value applies to valuation of Covered Property regardless of whether that property has <br />sustained partial or total loss or damage. <br />The actual cash value of the lost of damaged property may be significantly less than its replacement cost. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />Includes copyrighted material of ISO Commercial Risk Services, <br />EPA-1739 (06/2015) Page 1 of 1 <br />Inc. with its permission. Copyright, ISO Commercial Risk <br />Services, Inc. <br /> <br /> <br /> <br /> <br />