2008-040 Purchasing - Clancy and Theys Animal Services Facility Phase II Building

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CONDITIONS This Company binds the Idnd(s) of insurance stipulated on the reverse side. The Insurance is subject to the terms, conditions and limitations of the po{icy(ies) in current use by the Company. This binder may be cancelled by the Insured by surrender of this binder or by written notice to the Company stating when cancellation will be eifedive.This binder may be cancelled by the Company by notice to the Insured in accordance with the pdicy editions. This binder is cancelled when replaced by a pdicy. Ifthis binder is not replaced by a pdicy, the Company is entitled to charge a premium for the binder according to the Rules and Rates in use by tl~e Company. Applicable in California When this form is used to provide insurance in the amount of one million dollars (x1,000,000) or more, the title of the form is changed from "Insurance Binder" to "Cover Note". Applicable in Colorado With respell to binders issued to renters of residential premises, home owners, condo unit owners and mobile home owners, the insurer hasthirty (30) business days, commendng from the effed~ve date of coverage, to evaluate the issuance of the insurance pdicy. Applicable in Delaware The mortgagee or Obligee of any mortgage or other instrument given for the purpose of cxeating a lien on real property shall accept as evidence of insurance a written binder issued by an authorized insurer ~ its agent if the binder indudes or is accompanied by: the name and address of the borrower, the name and address of the lender as loss payee; a description of the insured real property; a provision that the binder may not be canceled within the term of the binder unless the lender and the insured borrower receive written notice of the cancel- lation at least ten (10) days prior to the cancellation; except in the case of a renewal of a pdicy subsequent to the dosing of the loan, a paid receipt of the full amount of the appligble premium, and the amount of insurancecoverage. Chapter 21 Title 25 Paragraph 2119 Applicable in Florida Except for Auto Insurance coverage, no notice of cancellation or nonrenewal of a binder is required unless the duration of the binder exceeds 60 days. For auto insurance, the insurer must Bice 5 days prior notice, unless the binder is replaced by a pdicy or another binder in the same company. Applicable in Nevada Any person who refuses to accept a binder which provides coverage of less than x1,000,000.00 when proof is required: (A) Shatl be fined not more than x500.00, and (B) is liable to the party presenting the binder as proof of insurance for actual damages sustained therefrom. ACORDT6(20041'09)