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corporate charter, articles of incorporation or by-laws when we are a company organized for the sole purpose of providing members of an organization with insurance coverage in North Carolina. We will mail or deliver written notice of cancellation to the first Named Insured at least: (i) 15 days before the effective date of cancellation if we cancel for nonpayment of premium; or (ii) 30 days before the effective date of cancellation if we cancel for any other reason. c. Cancellation for nonpayment of premium will not become effective if you pay the premium amount due before the effective date of cancellation. d. We may also cancel this policy for any reason not stated above provided we obtain your prior written consent. 2. The following provisions are added and supersede any other provisions to the contrary: M. Nonrenewal 1. If we elect not to renew this policy, we will mail or deliver to the first Named Insured shown in the Declarations written notice of nonrenewal at least 45 days prior to the: a. Expiration of the policy if this policy has been written for one year or less; or b. Anniversary date if this policy has been written for more than one year or for an indefinite term. 2. We need not mail or deliver the notice of nonrenewal if you have: a. Insured property covered under this policy, under any other insurance policy; b. Accepted replacement coverage; or c. Requested or agreed to nonrenewal of this policy. 3. If notice is mailed, proof of mailing will be sufficient proof of notice. Page 2 of 3 N. Notice of Cancellation or Nonrenewal The written notice of cancellation or nonrenewal will: 1. Be mailed or delivered to the first Named Insured and any designated mortgagee or loss payee at their addresses shown in the policy, or if not indicated in the policy, at their last known addresses; and 2. State the reason or reasons for cancellation or nonrenewal. B. The following changes apply to the Standard Property or Special Property Coverage Form. 1. Exclusion If loss or damage to Covered Property in the Beach Territory is caused by or results from Windstorm or Hail, the following additional exclusion applies: We will not pay for loss or damage to: 1. Paint; or 2. Waterproofing material; applied to the exterior of Buildings. We will not include the value of paint or waterproofing material to determine the value of Covered Property. The Beach Territory consists of localities south and east of the Inland Waterway: 1. From the South Carolina line to Fort Macon (Beaufort Inlet), 2. From there south and east of Core, Pamlico, Roanoke and Currituck Sounds to the Virginia line, generally known as the Outer Banks. 2. Appraisal Paragraph E.2. Appraisal is deleted and replaced by the following: 2. Appraisal If we and you disagree on the value of the property or the amount of loss, either may make written demand for an appraisal of the loss. In this event, each party will select a competent and impartial appraiser. You and we must notify the other of the appraiser selected within 20 days of the written demand for appraisal. The two appraisers will select an umpire. If the ew cF RAMwagementDMsian Jy/\'x REVIEWED & APPROVED BY.- V"° --� Risk janagement Analyst