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(2) Give us prompt notice of the loss or 4. Loss Payment damage. Include a description of the a. In the event of loss or damage covered by property involved. this Coverage Form, at our option, we will (3) As soon as possible, give us a either: description of how, when and where the (1) Pay the value of lost or damaged loss or damage occurred. property; (4) Take all reasonable steps to protect the (2) Pay the cost of repairing or replacing the Covered Property from further damage, lost or damaged property, subject to b. and keep a record of your expenses below; necessary to protect the Covered (3) Take all or any part of the property at an Property, for consideration in the agreed or appraised value; or settlement of the claim. This will not increase the Limit of Insurance. (4) Repair, rebuild or replace the property However, we will not pay for any with other property of like kind and subsequent loss or damage resulting quality, subject to b. below. from a cause of loss that is not a We will determine the value of lost or Covered Cause of Loss. Also, if damaged property, or the cost of its repair feasible, set the damaged property or replacement, in accordance with the aside and in the best possible order for applicable terms of the Valuation Condition examination. in this Coverage Form or any applicable (5) At our request, give us complete provision which amends or supersedes the inventories of the damaged and Valuation Condition. undamaged property. Include quantities, b. The cost to repair, rebuild or replace does costs, values and amount of loss not include the increased cost attributable claimed. to enforcement of or compliance with any (6) As often as may be reasonably required, ordinance or law regulating the permit us to inspect the property proving construction, use or repair of any property. the loss or damage and examine your c. We will give notice of our intentions within books and records. 30 days after we receive the sworn proof of Also, permit us to take samples of loss. damaged and undamaged property for d. We will not pay you more than your inspection, testing and analysis, and financial interest in the Covered Property. permit us to make copies from your e. We may adjust losses with the owners of books and records. lost or damaged property if other than you. (7) Send us a signed, sworn proof of loss If we pay the owners, such payments will containing the information we request to satisfy your claims against us for the investigate the claim. You must do this owners' property. We will not pay the within 60 days after our request. We will owners more than their financial interest in supply you with the necessary forms. the Covered Property. (8) Cooperate with us in the investigation or f. We may elect to defend you against suits settlement of the claim. arising from claims of owners of property. b. We may examine any insured under oath, We will do this at our expense. while not in the presence of any other g. We will pay for covered loss or damage insured and at such times as may be within 30 days after we receive the sworn reasonably required, about any matter proof of loss, if you have complied with all relating to this insurance or the claim, of the terms of this Coverage Part, and: including an insured's books and records. In ave reached agreement with you (1) We h the event of an examination, an insured's on the amount of loss; or answers must be signed. (2) An appraisal award has been made. CP 00 10 10 12 © Insurance Services Office, Inc.,2011 Page 11of 16