2019-510 Housing - Cedar Grove Neighborhood Assn operating agreement

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F . The General Aggregate as stated in Item 4 . c . of 2 . If the " Underlying Insurance " does not include the Declarations to this policy is the most we will payments of " defense expenses " as part of its pay for all damages to which this policy applies . Limits of Liability , but instead indicates that the payment of " defense expenses " will not reduce G . If the Limit of Liability of the " Scheduled Underlying the Limits of Liability , then when excess of Policy " as stated in the " Schedule of Underlying such " Underlying Insurance , " our payment of Insurance" has been exhausted by payments " defense expenses " will not reduce the made on behalf of any insured by the " Underlying available Limits of Liability . Insurer , " this policy shall apply in the same manner as the applicable " Underlying Insurance , " subject 3 . The " defense expenses " extended by this to all the terms and conditions of such " Underlying policy will be subject to the same provisions as Insurance" and the terms and conditions of this the " defense expenses " extended by the policy . If the Limit of Liability of the " Underlying " Underlying Insurance . " Insurance " as stated in the " Schedule of Underlying Insurance" has been reduced by B . We will not defend any " suit" or " claim " after we payments made on behalf of any insured by the have exhausted the applicable Limit of Liability as " Underlying Insurer , " this policy will drop down to stated in the Declarations . If we are prevented by become immediately excess of the reduced limit of law from carrying out this paragraph , we will NOT the " underlying Insurance . " pay any " defense expenses " incurred without our written consent . H . The Limits of Insurance of the " Scheduled Underlying Policy " will be reduced or exhausted C . In all circumstances for which paragraph A above only by payments made on behalf of an insured for is not applicable , we will NOT be obligated to injury or damage to which this insurance would assume charges or pay expenses for the apply , but for the amount of such injury or damage . investigation , settlement or defense of any " claim " made , or " suit" brought , or proceedings instituted I . The Limits of Insurance of this policy apply against any insured . We will , however , have the separately to each consecutive annual period and right in our sole discretion to participate in the to any remaining period of less than 12 months , defense and trial of any " claim " , " claims " suits " or starting with the beginning of the policy period proceedings which may involve the coverage shown in the Declarations to this policy , unless the extended by this policy . If we avail ourselves of policy period is extended after issuance for an this right , we will do so at our expense . additional period of less than 12 months . In that case , the additional period will be deemed part of SECTION 4 . EXCLUSIONS OR SUBLIMITS the last preceding period for purposes of determining the Limit of Insurance . Any Extended A . Each and every exclusion within the " Underlying Reporting Period will not increase the applicable Insurance " is incorporated by reference to this Limit of Insurance . policy , with the same force and effect as though expressly set forth within this policy . As an SECTION 3 . DEFENSE PROVISIONS example only , if the " Underlying Insurance " includes an exclusion for improper sexual A . We will have the same defense obligations under misconduct and physical abuse , that exclusion in this policy as are in the applicable " Underlying its entirety is incorporated within this policy as Insurance " when the applicable Limits of Liability of though fully set forth herein . the " Underlying Insurance , " plus the applicable limits of any other applicable insurance , have been B . Notwithstanding Provision A within Section 1 , the exhausted by payments made on behalf of an coverage identified in the Declarations to this insured . policy is the only coverage extended by this policy . If an " Underlying Insurance " includes exclusions 1 . If the " Underlying Insurance" includes with exceptions and specified sub - limits , this policy payments of " defense expenses " as part of its will not provide coverage in excess of the specified Limits of Liability , then when excess of such sub - limit , unless a separate sub - limit is identified " Underlying Insurance , " our payment of any specifically within the Declarations to this policy . If " defense expenses " is within the applicable an " Underlying Insurance " includes Additional Limits of Liability of this policy and each Coverages with specified limits , this policy will not payment we make for such " defense provide coverage in excess of the specified expenses " reduces the available Limits of Additional Coverage , unless a limit for that Liability by the amount of the payment . Additional Coverage is specifically identified within the Declarations to this policy . If an " Underlying Insurance " includes an extension of a specified Page 3 of 6 UMB- 100 08 18