2014/11/19 Council Agenda Packet

J iL 01 46 08 10 WASHiNGTON COMMON POLICY CONDITIONS All Coverage Parts included in this policy are subject to the following conditions. The conditions in this endorsement replace any 3. We may cancel the Commercial Property similar conditions in the policy that are less favor- Coverage Part and the Capital Assets Pro- able to the insured. gram (Output Policy) Coverage Part, if A. Cancellation made a part of this policy, by mailing or delivering to the first Named Insured and 1. The first Named Insured shown in the the first Named Insured's agent or broker • Declarations may cancel this policy by written notice of cancellation at least five notifying us or the insurance producer in days before the effective date of cancella- one of the following ways: tion for any structure where two or more a. Written notice by mail, fax or e-mail; of the following conditions exist: b. Surrender of the policy or binder; or a. Without reasonable explanation, the c. Verbal notice. structure is unoccupied for more Upon receipt of such notice, we will can- than 60 consecutive days, or at least cel this policy or any binder issued as evi- 65% of the rental units are unoccu- dence of coverage, effective on the later pied for more than 120 consecutive of the following: days, unless the structure is main- tained for seasonal occupancy or is a. The date on which notice is received under construction or repair; or the policy or binder is surren- dered; or b. Without reasonable explanation, progress toward completion of per- b. The date of cancellation requested manent repairs to the structure has by the first Named Insured. not occurred within 60 days after re- 2. We may cancel this policy by mailing or ceipt of funds following satisfactory delivering to the first Named Insured and adjustment or adjudication of loss re- the first Named Insured's agent or broker suiting from a fire; written notice of cancellation, including c. Because of its physical condition, the the actual reason for the cancellation, to structure is in danger of collapse; the last mailing address known to us, at least: d. Because of its physical condition, a vacation or demolition order has a. 10 days before the effective date of been issued for the structure, or it cancellation if we cancel for nonpay- has been declared unsafe in accor- ment of premium; or dance with applicable law; b. 45 days before the effective date of e. Fixed and salvageable items have cancellation if we cancel for any oth- been removed from the structure, in- er reason; dicating an intent to vacate the struc- except as provided in Paragraphs 3. arid ture; 4. below. f. Without reasonable explanation, heat, water, sewer and electricity are not furnished for the structure for 60 consecutive days; or g. The structure is not maintained in substantial compliance with fire, safety and building codes. EL 01 46 08 10 ® Insurance Services Office, Inc., 2010 Page 1 of 4 • 90