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Policy Number: BA -8470L003 -TIL -16 4. Lmoo Pmymend—Phya|ca| Damage Cover- ages avepages Atour option, wemay: a. Pay for, repair orreplace damaged orsto- len property; b. Return the stolen property, at our ex- pense. We +penam.VVe will pay for any damage that results tothe "auto"from the theft; or c. Take all or any part ofthe damaged or stolen property mtan agreed or appraised value. If we pay for the "|oms", our payment will in- clude the applicable se|om tax for the dam- aged orstolen property. 5. Transfer Of Rights Of Recovery Against Others TmUa If any person or organization tomfor whom we make payment under this Coverage Form has rights to recover damages from another, those rights are transferred tous. That person or organization must do everything necessary tosecure our rights and must donothing after "ecoident"ur^|oom^toimpair them. B. General Conditions 1. Bankruptcy Bankruptcy minsolvency ofthe 1nsured or the "inourudb" estate will not relieve ueofany obligations under this Coverage Form. 2. Cuncme|ment, Misrepresentation (]rFraud This Coverage Form is void in any case of fraud by you at any time as it relates to this Coverage Form. It is also void if you or any other "inaured", at anytime. intentionally con- ceals ormisrepresents amaterial fact oon' coming: m. This Coverage Form; b. The covered "auto"; c. Your interest in the covered "auto"; or d. Aclaim under this Coverage Form. 3. Liberalization If we revise this Coverage Form to provide more coverage without additional premium cherge, your policy will automatically provide the additional coverage as of the day the re- vision is effective inyour state. 4. No Benefit To 8ml|mw— Physical Damage Coverages We will not recognize any assignment or grant any coverage for the benefit ofany per- COMMERCIAL AUTO son murganizationholdin0.atoringmtran porting property for a fee regardless of any other provision of this Coverage Form. 5. Other Insurance m. For any covered "auto" you own, this Coverage Funn provides primary insur- ance. For any covered "auto" you don't mwn, the insurance provided by this Cov- erage Form is oxoeme over any other col- lectible insurance. However, while acov- ered "auto" vvh|oh is e "trailer" is con- nected to another vehicle, the Covered Autos Liability Coverage this Coverage Form provides for the "trailer" is: (1) Excess while it isconnected kuamo- tor vehideyoudonotown|or (2) Primary while it is connected to e covered "autu"you own. b. For Hired Auto Physical Damage Cover- age, any covered "auto" you |eamo, h/ny. rent urborrow indeemed kmbeacovered .auto" you own. However, any "auto"that ialeased, hired, rented nrborrowed with edriver |enot ucovered "outo^ o. Regardless of the provisions of Pana - graph m. above, this Coverage Form's Covered Autos Liability Coverage is ph- maryfor any liability assumed under an "insured contract'. d. When this Coverage Form and any other Coverage Form or policy covers on the same busiu, either excess urprimary, we will pay only our share. Our share is the proportion that the Limit of Insurance of our Coverage Form bears to the total of the limits of all the Coverage Forms and policies covering onthe same basis. G. Premium Audit The estimated premium for this Coverage Fnnn is based on the exposures you told uayou would have when this po|icybe- gan. We will compute the final premium due when we determine your actual ex- posures. The estimated total premium will be credited against the final premium dun and the first Named Insured will be billed for the ba|anoe, if any. The due date for the final premium or retrospective pre- mium iathe date shown oathe due data on the bill. If the estimated 8ute| premium exceeds the final premium duo. the first Named Insured will get orefund. CA 00 01 10 13 @|neunamoe Services Office, Inc., 20,fl Page 9 of 12