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BEAN SPROUTS, LLC (2)
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BEAN SPROUTS, LLC (2)
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Last modified
2/11/2021 3:47:12 PM
Creation date
2/4/2021 5:20:57 PM
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Contracts
Company Name
BEAN SPROUTS, LLC
Contract #
A-2018-113-01
Agency
Parks, Recreation, & Community Services
Council Approval Date
5/1/2018
Expiration Date
9/17/2023
Insurance Exp Date
7/3/2021
Destruction Year
2028
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THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. <br />BUILDING LIMIT- AUTOMATIC INCREASE REVISION <br />This endorsement modifies insurance provided under the following: <br />SPECIAL PROPERTY COVERAGE FORM <br />STANDARD PROPERTY COVERAGE FORM <br />Except as otherwise stated in this endorsement, the <br />terms and conditions of the policy apply to the insurance <br />stated below. <br />A. Paragraph C.5 Building Limit -Automatic Increase <br />of the SPECIAL PROPERTY COVERAGE FORM or <br />STANDARD PROPERTY COVERAGE FORM is <br />deleted. <br />B. The following is added to Additional Coverages, <br />paragraph A.5 of the SPECIAL PROPERTY <br />COVERAGE FORM or paragraph A.4. of the <br />STANDARD PROPERTY COVERAGE FORM: <br />Building Limit -Automatic Increase <br />a. If the covered loss or damage to Building <br />property at a "scheduled premises" exceeds the <br />Limit of Insurance stated in the Declarations, the <br />Limit of Insurance available for the covered loss <br />or damage in that occurrence will automatically <br />increase by up to 8%. <br />b. The amount of increase will be: <br />(1) The Limit of Insurance for Buildings that <br />applied on the most recent of the policy <br />inception date, policy anniversary date, or <br />the date of any other policy change <br />amending the Building limit, multiplied by <br />(2) The 8% annualized percentage of Automatic <br />Increase, expressed as a decimal <br />(08), multiplied by <br />(3) The number of days since the beginning of <br />the current policy year or the effective date <br />of the most recent policy change amending <br />the Limit of Insurance for Buildings, divided <br />by 365. <br />Example: <br />The applicable Limit of Insurance for Buildings is <br />$100,000. The automatic increase percentage is <br />8%. The number of days since the beginning of <br />the policy period (or last policy change) is 146. <br />The amount of increase is: <br />$100,000 X .08 X 146 divided by 365 = $3,200 <br />ew cF RAMwagementDMsian <br />Form SS 41 51 10 09 J_/ ,qq REVIEWED & APPROVED BY.- <br />., . V <br />©2009, The Hartford —_-- Wsk Pjanagement Analpt <br />
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