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As used in this provision a "balloon loan" is a loan with periodic payments that are insufficient <br /> to repay the balance over the term of the loan, thereby requiring a large final payment. <br /> 2. For the purposes of this Loan/Lease Gap Coverage provision, SECTION V—DEFINITIONS is <br /> amended by adding the following Definitions: <br /> a. "Total loss" means a "loss" in which the cost of repairs plus the salvage value exceeds <br /> the actual cash value at the time of"loss". <br /> b. A"balloon loan" is a loan with periodic payments that are insufficient to repay the balance <br /> over the term of the loan, thereby requiring a large final payment. <br /> F. EXTENDED CANCELLATION CONDITION <br /> 1. COMMON POLICY CONDITIONS, paragraph A.—Cancellation condition applies except as <br /> follows: <br /> If we cancel for any reason other than nonpayment of premium, we will mail or deliver to the <br /> first Named Insured written notice of cancellation at least 60 days before the effective date of <br /> cancellation. This provision does not apply in those states which require more than 60 days' <br /> prior notice of cancellation. <br /> G. VEHICLE WRAP COVERAGE <br /> 1. SECTION III—PHYSICAL DAMAGE COVERAGE, paragraph A. Coverage, 4. Coverage <br /> Extensions, is amended by adding the following: <br /> In the event of a "total loss"to a covered "auto" for which Comprehensive, Specified Causes <br /> of Loss, or Collision coverages are provided under this Coverage Form, we will pay up to <br /> $1,000.00 for vinyl vehicle wraps which are displayed on the covered "auto" at the time of <br /> "total loss". Regardless of the number of autos deemed a "total loss", the most we will pay <br /> under this coverage extension for any one "loss" is $5,000.00. For the purposes of this <br /> coverage extension, signs or other graphics painted or magnetically affixed to the vehicle are <br /> not considered vehicle wraps. <br /> 2. For the purposes of this Vehicle Wrap Coverage provision, SECTION V— DEFINITIONS is <br /> amended by adding the following Definitions: <br /> "Total loss" means a "loss" in which the cost of repairs plus the salvage value exceeds the <br /> actual cash value at the time of"loss". <br /> H. AUDIO, VISUAL AND DATA ELECTRONIC EQUIPMENT COVERAGE <br /> 1. SECTION III— PHYSICAL DAMAGE COVERAGE, paragraph B.Exclusions, <br /> subparagraphs 5.a. and 5.b. are deleted and replaced with the following: <br /> Exclusions 4.c and 4.d do not apply to electronic equipment that receives or transmits audio, <br /> visual or data signals, whether or not designed solely for the reproduction of sound, if the <br /> equipment is permanently installed in the covered "auto" at the time of the "loss" and such <br /> equipment is designed to be solely operated by the use of power from the "auto's" electrical <br /> system, in or upon the covered "auto" and physical damage coverages are provided for the <br /> covered "auto"; or <br /> NSIC-GMI-BA-001 (Ed. 08119) Page 4 of 5 <br /> Includes copyrighted material of Insurance Services Office, Inc., with its permission. <br />