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Evidence of Insurance (continued) <br />Loss payable provisions <br />(Applicable only if lienholder is named, and no other Automobile loss payable endorsement is attached to the policy) <br />It is agreed that any payment for loss or damage to the vehicle <br />described in this policy shall be made on the following basis: <br />1. At our option, loss or damage shall be paid as interest may <br />appear to the policyholder and the lienholder shown in the <br />Declarations, or by repair of the damaged vehicle. <br />2. Any actor neglect of the policyholder or a person acting on <br />his behalf shall not void the coverage afforded to the <br />lienholder. <br />3. Change in title or ownership of the vehicle, or error in its <br />description shal I not void coverage afforded to the <br />lienholder. <br />The policy does not cover conversion, embezzlement or <br />secretion of the vehicle by the policyholder or anyone acting in <br />his behalf while in possession under a contract with the <br />lienholder. <br />A payment maybe made to the lienholder which we would not <br />have been obligated to make except for these terms. I n such <br />event, we are entitled to all the rights of the lien holder to the <br />extent of such payment. <br />Authorized Representative <br />farmers.com <br />25-8976 9-13 <br />The lienholder shal I do whatever is necessary to secure such <br />rights. No subrogation shall impair the right of the lienholder to <br />recover the full amount of its claim. <br />We reserve the right to cancel this policy at anytime as provided <br />by its terms. In case of cancellation or lapse we wi I I notify the <br />lien holder at the address shown in the Declarations. We will give <br />the lien holder advance notice of not less than 10 days from the <br />effective date of such cancellation or lapse as respects his <br />interest. Mailing notice to the loss payee issufficient toeffect <br />cancellation. <br />Thefollowing applies as respects any lossadjusted with the <br />mortgagee interest only: <br />1. Any deductible applicable to Comprehensive Coverage shall <br />not exceed $250. <br />2. Any deductible applicable to Collision Coverage shall not <br />exceed $250. <br />2/15/2022 <br />Date <br />taeic matugnnwu urvie�nn <br />qs;g REVIEWED&APPROVED BY:: <br />Risk Management Analyst <br />