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appraisers do not agree on the selection of an umpire within 15 days, they must request selection of an umpire by a judge of a court having jurisdiction. The appraisers will state separately the value of the property and amount of loss. If they fail to agree, they will submit their differences to the umpire. A decision agreed to by any two will be the appraised value of the property or amount of loss. If you make a written demand for an appraisal of the loss, each party will: a. Pay its chosen appraiser; and b. Bear the other expenses of the appraisal and umpire equally. 3. Legal Action Against Us Paragraph EA. Legal Action Against Us is deleted and replaced by the following: No one may bring a legal action against us under this insurance unless: 1. There has been full compliance with all of the terms of this insurance; and 2. The action is brought within 3 years after the date on which the direct physical loss or damage occurred. 4. Loss Payment Subparagraph E.5.d.(1)(b) Loss Payment is deleted and replaced by the following: 5. Loss Payment (b) We will not pay on a replacement cost basis for any loss or damage: (i) Until the lost or damaged property is actually repaired or replaced: i. On the described premises; or ii. At some other location in the State of North Carolina; and (ii) Unless the repairs or replacement are made as soon as reasonably possible after the loss or damage. 5. The following condition is added to E. Property Loss Conditions: 9. Time Period For Performance Of Contractual Obligations Whenever a state of disaster is proclaimed for the state of North Carolina or for an area within this state in accordance with state law, or whenever a major disaster is declared for North Carolina or an area within this state by the President of the Form SS 01 09 02 14 United States under the Stafford Act or its successors, the following provisions apply: 1. If the Covered Property that has sustained loss or damage is located within the geographic area designated in the disaster declaration or proclamation, the time period for your submission of a proof of loss (as set forth in the Duties In The Event Of Loss Or Damage Condition or similar provision in this policy or in an endorsement attached to this policy) shall be extended by a time period not exceeding the earlier of : a. The expiration of the disaster proclamation or declaration and all renewals of the proclamation; or b. The expiration of the Insurance Commisioner's order declaring action for this specific disaster, as determined by the Insurance Commisioner. 2. Except as otherwise provided in Paragraph 1., the following applies if you or we reside in or are located in the geographic area designated in the disaster declaration or proclamation: If this policy or an endorsement attached to this policy or an endorsement attached to this policy impose a time limitation on you or us for a performance of: a. A premium or debt payment; or b. Any other duty or any act (including transmittal of information), under the terms of this policy and such performance would be required during the time period prior to the expiration of the Insurance Commissioner's order declaring action for the specific disaster, as determined by the Insurance Commissioner, your performance and our performance is subject to a deferral period of 30 days. The Commissioner of Insurance may extend such deferral period. C. The following changes apply to the Mortgageholders Errors and Omissions Coverage Form. 1. Legal Action Against Us Subparagraph (2) of 1.5.a. Legal Action Against Us is deleted and replaced by the following: (2) The action is brought within 3 years after the date on which the direct physical loss or damage occurred. ew cF RAMwagementDMsian Jy/\'x REVIEWED & APPROVED BY.- V"° --� Risk janagement Analyst