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COMMERCIAL INLAND MARINE CM 01 11 04 21 119: 1 &14 1, 11191*14 A, 14 1, 11 Ire]: 0 1, M *3119: 1:8293 1 1WM:J 4:fiV"1:8;4:M d k 11119EM 4 111] 4 WA ,TA I Eel M I Eff, A Ll 1 [01 M Fil Ll 10 [4191 F51 I F51 1:4 :1141 F-11 1111110 1 W-11 10 1 U F51 F-3:111 172 A. The Conditions of this Coverage Part that are in conflict with the statutes of the State of Michigan are amended to conform to such statutes. B. Loss Condition B. Appraisal in the Commercial Inland Marine Conditions is replaced by the following: MOM= 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 independent appraiser within 20 days after receiving a written request from the other. The two appraisers will select a competent and impartial umpire. If they cannot agree upon an umpire within 15 days, either may request that selection be made by a judge of the circuit court for the county in which the loss occurred or in which the property is located. 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 set the amount of loss. Each party will: 1. Pay its chosen appraiser; and 2. Bear the other expenses of the appraisal and umpire equally. If there is an appraisal, we will still retain our right to deny the claim. C. General Condition A. Concealment, Misrepresentation Or Fraud in the Commercial Inland Marine Conditions is replaced by the following: A. Concealment, Misrepresentation Or Fraud This Coverage Part is fraud, intentional misrepresentation of a concerning: void in any case of concealment or material fact by you 1. This Coverage Part; 2. The Covered Property; 3. Your interest in the Covered Property; or 4. A claim under this Coverage Part. D. Wherever it appears, the phrase minimum annual premium is replaced by the phrase minimum written premium. E. With respect to the: [id iTi girt ffi Ili 913 • we I • Commercial Articles Coverage Form • Camera And Musical Instrument Dealers Coverage Form • Equipment Dealers Coverage Form • Physicians And Surgeons Equipment Coverage Form • Signs Coverage Form • Theatrical Property Coverage Form • Film Coverage Form • Floor Plan Coverage Form • Jewelers Block Coverage Form • Accounts Receivable Coverage Form • Valuable Papers And Records Coverage Form The exclusion for dishonest or criminal act (including theft) under B.2. Exclusions is replaced by the following: Dishonest or criminal act (including theft) committed by a "perpetrator". This exclusion applies whether or not an act occurs during your normal hours of operation. This exclusion does not apply to acts of destruction by your employees (including temporary employees and leased workers) or authorized representatives; but theft by your employees (including temporary employees and leased workers) or authorized representatives is not covered. However, with respect to loss or damage caused by or resulting from a criminal act, this exclusion only applies to the extent that a "perpetrator": (1) Admits, under oath; or (2) Is determined in any legal proceeding; RAMuaigmadDlMsian REVIEWED & APPROVED BY. 5 A4+e Aeevaa Risk Management Specialist y