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Insured: EC &AM Associates, Inc., DBA: GK&Associates Policy No.: AW3H038914 14. AUTO LOAN PHYSICAL DAMAGE imposed under a lease for excessive use, EXTENSION abnormal wear and tear or high mileage; security deposits not refunded by the lessor; The following is added to SECTION III - cost for extended warranties, Credit Life PHYSICAL DAMAGE COVERAGE, C. Insurance, Health,Accident or Disability Limit Of Insurance provision: Insurance purchased with the loan; and carry over balances from previous leases. When a 'loss" results in a total loss to a covered auto you own for which a Loss This coverage applies only to the initial Payee is designated in this policy, the most lease for the covered "auto"which has not we will pay for"loss" in any one "accident"is previously been leased. This coverage is the greater of: excess over all other collectible insurance. 1. The actual cash value of the SECTION IV- CONDITIONS damaged or stolen property as of the time of the"loss"; or 16. DUTIES IN THE EVENT OF ACCIDENT, CLAIM,SUIT OR LOSS 2. The outstanding balance of the initial loan, less any amounts for The following is added to SECTION IV- taxes, overdue payments, overdue BUSINESS AUTO CONDITIONS,A. Loss payment charges, penalties, Conditions,2. Duties In The Event Of interest, any charges for early Accident,Claim, Suit Or Loss: termination of the loan, costs for Credit Life Insurance, Health, d. Knowledge of any"accident", Accident or Disability Insurance claim, "suit"or"loss"will be purchased with the loan, and deemed knowledge by you when carry-over balances from previous notice of such "accident', loans. claim, "suit'or"loss" has been received by: 15. AUTO LEASE PHYSICAL DAMAGE EXTENSION (1) You, if you are an individual; (2) Any partner or insurance The following is added to SECTION III - manager if you are a PHYSICAL DAMAGE COVERAGE, C. partnership; or Limit Of Insurance provision: (3) An executive officer or insurance manager if you are If, because of damage, destruction or theft of a corporation. a covered"auto", which is a long-term leased "auto", the lease agreement between 17. BLANKET WAIVER OF you and the lessor is terminated, "we"will SUBROGATION pay the difference between the amount paid under paragraph C. LIMIT OF INSURANCE Paragraph 5. Transfer Of Rights Of 1. or 2. and the amount due at the time of Recovery Against Others To Us, "loss" under the terms of the lease SECTION IV- BUSINESS AUTO agreement applicable to the leased "auto" CONDITIONS,A. Loss Conditions is which you are required to pay: less any fees replaced by the following: to dispose of the auto; any overdue payments;financial penalties Includes copyrighted material of Insurance Services Office, Inc. with its permission. Copyright, Insurance Services Office, Inc., 1996 461-0155 (9-97) 85047723 25-26 PL, 29-25 GL-AL-OL-WC 114,1 sh, Bastian 1 9/29/2-02-5 4:55:03 PM (PDT) I Page 5 of 8