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.. .._:.Jt1VI. E.L.M. INSURANCEBRO~ERS, IN<:: 1990 EAST GRAND AVE, SUITE 210 I EL SEGUNDO, CA 90245 TEL (310) 322-1301 FAX (310) 322-1302 CA L1C # OD26706 5/8/08 BINDER # 36701.01 Page 2 of 2 Payment terms cont.. NO LATER than 5 days after receiving our invoice. 2. Financed premium - NO LATER than 20 days after policy inception. Your finance company must be instructed to release funds within this time to avoid possible cancellation due to non-payment. NON.ADMITTE The Company offering this indication is non-admitted in the state of California. The Insured MUST D NOTICE: receive written instructions from your agency to sign the attached SLA D-1 BEFORE coverage becomes effective. If not, your agency will be responsible for any applicable minimum earned premium should the Insured exercise their right to pro-rata cancellation DISCLAIMER: In order to complete the underwriting process, we must receive the additional information requested under the "Subject to" section above. The Carrier listed is not required to bind coverage prior to their receipt, review, and underwriting approval of the requested additional information. This indication is strictly conditioned upon no material change in risk occurring between the date of this letter and the inception date of the proposed policy (including any claim or notice or circumstances that may reasonably be expected to give rise to a claim under any policy of which the policy being proposed by this letter is a renewal or replacement). In the event of such change of risk, the Insurer may in its sole discretion, whether or not this offer has already been accepted by the Policyholder, modify andlor withdraw this offer. Please note that this indication contains only a general description of coverages provided. For a detailed description of the terms of this indication, you must refer to the policy itself and any endorsements indicated. PREMIUM: $ 497.00 14.91 State Tax . 0.62 CA Stamp Fee $ 512.53 Total Premium is Minimum and Deposit for policy period. No flat cancellations. 25% minimum retained premium in the event of cancellation. This Binder is subject to all terms and conditions of the policy to be issued. The Binder shall be terminated and voided by delivery of a policy to either the Insured, his agent or representative. The coverage will remain in effect for the term indicated unless cancelled by the Insured, or the Company, via written notice. 41~' Frederick J. Fisher