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Actual Cash Value Or Cost Of Repair, Whichever Is Less, Minus <br />Specified <br />Causes Of Loss <br />$ Deductible For Each Covered "Leased Auto" <br />Information required to complete this Schedule, if not shown above, will be shown in the Declarations. <br />A. Coverage <br />1. Any 'leased auto" designated or described in the <br />Schedule will be considered a covered "auto" you <br />own and not a covered "auto" you hire or borrow. <br />2. For a 'leased auto" designated or described in the <br />Schedule, the Who Is An Insured provision under <br />Covered Autos Liability Coverage is changed to <br />include as an "insured" the lessor named in the <br />Schedule. However, the lessor is an "insured" only <br />for "bodily injury" or "property damage" resulting <br />from the acts or omissions by: <br />a. You; <br />b. Any of your "employees" or agents; or <br />c. Any person, except the lessor or any "employee" <br />or agent of the lessor, operating a "leased auto" <br />with the permission of any of the above. <br />3. The coverages provided under this endorsement <br />apply to any 'leased auto" described in the <br />Schedule until the expiration date shown in the <br />Schedule, or when the lessor or his or her agent <br />takes possession of the 'leased auto", whichever <br />occurs first. <br />B. Loss Payable Clause <br />1. We will pay, as interest may appear, you and the <br />lessor named in this endorsement for 'loss" to a <br />"leased auto". <br />2. The insurance covers the interest of the lessor <br />unless the "loss" results from fraudulent acts or <br />omissions on your part. <br />3. If we make any payment to the lessor, we will <br />obtain his or her rights against any other party. <br />C. Cancellation <br />1. If we cancel the policy, we will mail notice to the <br />lessor in accordance with the Cancellation <br />Common Policy Condition. <br />2. If you cancel the policy, we will mail notice to the <br />lessor. <br />3. Cancellation ends this agreement. <br />D. The lessor is not liable for payment of your premiums. <br />E. Additional Definition <br />As used in this endorsement: <br />"Leased auto" means an "auto" leased or rented to <br />you, including any substitute, replacement or extra <br />"auto" needed to meet seasonal or other needs, under <br />a leasing or rental agreement that requires you to <br />provide direct primary insurance for the lessor. <br />Page 2 of 2 © Insurance Services Office, Inc., 2011 <br />oR,N F RAMougmumtDMsian <br />REVIEWED & APPROVED BY. <br />o � <br />Risk Management Specialist <br />