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Exclusion 4.c. and 4.d. do not apply to: <br /> a. Electronic equipment that receives or transmits audio, visual or data signals, whether or not designed <br /> solely for the reproduction of sound, if the equipment is permanently installed in the covered "auto" at <br /> the time of the "loss" and such equipment is designed to be solely operated by use of the power from <br /> the "auto's" electrical system, in or upon the covered "auto" and physical damage coverages are <br /> provided for the covered "auto"; or <br /> If the "loss" occurs solely to audio, visual or data electronic equipment or accessories used with this <br /> equipment, then our obligation to pay for, repair, return or replace damaged or stolen property will be <br /> reduced by a $100 deductible. <br /> 14. LOAN/ LEASE GAP COVERAGE <br /> A. Paragraph C., LIMIT OF INSURANCE of SECTION III — PHYSICAL DAMAGE COVERAGE is <br /> amended by adding the following: <br /> The most we will pay for a "total loss" to a covered "auto" owned by or leased to you in any one <br /> "accident" is the greater of the: <br /> 1. Balance due under the terms of the loan or lease to which the damaged covered "auto" is subject <br /> at the time of the"loss" less the amount of: <br /> a. Overdue payments and financial penalties associated with those payments as of the date of <br /> the "loss", <br /> b. Financial penalties imposed under a lease due to high mileage, excessive use or abnormal <br /> wear and tear, <br /> c. Costs for extended warranties, Credit Life Insurance, Health, Accident or Disability Insurance <br /> purchased with the loan or lease, <br /> d. Transfer or rollover balances from previous loans or leases, <br /> e. Final payment due under a "Balloon Loan", <br /> f. The dollar amount of any unrepaired damage which occurred prior to the "total loss" of a <br /> covered "auto", <br /> g. Security deposits not refunded by a lessor, <br /> h. All refunds payable or paid to you as a result of the early termination of a lease agreement or <br /> as a result of the early termination of any warranty or extended service agreement on a <br /> covered "auto", <br /> i. Any amount representing taxes, <br /> j. Loan or lease termination fees; or <br /> 2. The actual cash value of the damage or stolen property as of the time of the "loss". <br /> An adjustment for depreciation and physical condition will be made in determining the actual cash <br /> value at the time of the "loss". This adjustment is not applicable in Texas. <br /> B. ADDITIONAL CONDITIONS <br /> This coverage applies only to the original loan for which the covered "auto" that incurred the loss <br /> serves as collateral, or lease written on the covered "auto" that incurred the loss. <br /> C. SECTION V— DEFINTIONS is changed by adding the following: <br /> As used in this endorsement provision, the following definitions apply: <br /> "Total loss" means a "loss" in which the cost of repairs plus the salvage value exceeds the actual <br /> cash value. <br /> A"balloon loan" is one with periodic payments that are insufficient to repay the balance over the term <br /> of the loan, thereby requiring a large final payment. <br /> ©2010 Liberty Mutual Insurance Company.All rights reserved. <br /> CA 88 10 01 10 Includes copyrighted material of Insurance Services Office,with its permission. Page 5 of 7 <br />