Orange County NC Website
defend such claim or Suit,the Company shall be entitled to the Insured's rights against gill such other insurers <br /> or self-insurers for any Claims Expenses incurred by the Company. <br /> When both this insurance and other insurance or self-insurance apply to the loss on the;>ame basis,whether <br /> primary,excess or contingent,the Company shall not be liable under this policy for a greater proportion of the <br /> loss or defense costs than the applicable limit of liability under this policy for such loss bears to the total <br /> applicable limit of liability of all valid and collectible insurance against such loss. Subject to the foregoing,if a <br /> loss occurs involving two or more policies,each of which provides that its insurance shall be excess,each will <br /> contribute pro rata. <br /> I. REIMBURSEMENT: While the Company has no duty to do so, if the Company pays Damages or Claims <br /> Expenses: <br /> a. within the amount of the applicable deductible; <br /> b. in excess of the applicable limit of liability; <br /> C. where coverage is later found not to exist; <br /> all Insureds shall be jointly and severally liable to the Company for such amounts. Upon written demand,the <br /> Insured shall repay such amounts to the Company within thirty(30)days thereof. FailurD to pay any amount <br /> indicated may lead to policy cancellation. <br /> J. SUBROGATION:To the extent of any payment under this policy,the Company shall be!>ubrogated to all the <br /> Insured's rights of recovery therefore against any person,organization or entity and the Insured shall execute <br /> and deliver instruments and papers and do whatever else is necessary to secure such rights. The Insured shall <br /> do nothing after any loss to prejudice such rights. <br /> K. PREMIUM: All premiums for this policy shall be computed in accordance with the Company's rules, rates, <br /> rating plans, premiums and minimum premiums applicable to the insurance afforded hffein. <br /> Premium designated in this policy is a deposit premium only which shall be credited to the amount o#the earned <br /> premium due at the end of the Policy Period. At the close of each period(or part thereo-'terminating with the <br /> end of the Policy Period) designated in the Declarations as the audit period the earned premium shall be <br /> computed for such period,and upon notice thereof to the Named Insured,shall become due and payable. If <br /> the total earned premium for the Policy Period is less than the premium previously paid,the Company shall <br /> return to the Named Insured the unearned portion paid by the Named Insured. <br /> The Named Insured shall maintain records of such information as is necessary for premium computation,and <br /> shall send copies of such records to the Company at the end of the Policy Period and at such times during the <br /> Policy Period as the Company may direct. <br /> L. INSPECTION AND AUDIT: The Company shall be permitted but not obligated to inspectihe Named Insured's <br /> property and operations at any time. Neither the Company's rights to make inspections nor the making thereof <br /> nor any report thereon shall constitute an undertaking,on behalf of or for the benefit of the Named Insured or <br /> others,to determine or warrant that such property or operations are safe or healthful,or are in compliance with <br /> any law, rule or regulation. <br /> The Company may examine and auditthe Named Insured's books and records at anytime during the Policy <br /> Period and extensions thereof and within three years afterthe final termination of this policy as far as they relate <br /> to the subject matter of this insurance. <br /> IN WITNESS WHEREOF,the Company has caused this policy to be signed by its President and Secretary. <br /> �§dt -� Xkt— ' b. ' <br /> Secretary President <br /> PLJ-2037(05/98)(Ed.09/11) ©2011,Fireman's Fund Insurance Company,Novato,CA. All rights reserved. Page 12 of 13 <br />