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& LOAN / LEASE GAP COVERAGE (Not Applicable In Now York) <br />A. Paragraph C. Limit Of Insurance of SECTION III — PHYSICAL DAMAGE COVERAGE Is amended by <br />adding the following, <br />The most we will pay for a "total loss" to a covered "auto" owned by or leased to you in any one "accident" <br />Is the greater of the: <br />1. Halanoo due under the terms of the loan or lease to which the damaged covered "auto" Is subject at <br />the time of the'7oss" less the amount of; <br />a. Overdue payments and financial penaltles associated with those payments as of the date of the <br />b. Financial penalties Imposed under a tease due to high mileage, excessive use or abnormal wear <br />and tear; <br />c. Costs for extended warranties, Credit Life Insurance, Health, Accident or Disability Insurance <br />purchased with the loan or lease; <br />d, Transfer or rollover balances from previous loans or leases; <br />a. Final payment due under a ""Balloon Loan°; <br />% The dollar amount of any unrapalred damage which occurred prior to the "total loss" of a covered <br />"auto''; <br />g. Security deposit; not refunded by a lessor; <br />te, All refunds payable or paid to you as a result of the early termination of a tease agreement or as a <br />result of the early termination of any warranty or extended service agreement on a Covered "auto"; <br />1. Any amount reprosenting taxes; <br />J. moan or lease termination fees; or <br />2. The actual rash value of the damage or stolen property as of the time of the "loss". <br />An adjustment for depreciation and physical condition will be made in determining the actual cash value <br />at the time or the "loss", This adjustment is not applicable In Texas, <br />H. Additional Conditions <br />This coverage appiies only to the original loran for which the covered "auto" that incurred the "loss" serves <br />as collateral, or lease written on #ae covered "outo" that Incurred the "foss% <br />C. SECTION V -- DEFINITIONS Is changod by adding the following: <br />As used in this endorsement provision, the following definitions apiary: <br />"Total loss" means a "loss" in which the cost of repairs plus the salvage value exceeds the actual cash <br />value. <br />A "balloon loan" is one with periodic payments that are Insufficient to repay the balance over the term of <br />the loan, thereby requiring a large final payment. <br />tUskMow*-.ADhislm, <br />�� R�errEo&ArrpwmBv; <br />Page 6 of 6 C 2tl21 Liberty Mutual Insurance $ A"Vrdp <br />Includes copyrighted material of Insurance Services Office, tnc., with its per s M�,as��c"csPecapsr <br />DOW2629, 57179298 POLSVGS HC h1swW Copy <br />