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(3) The following property at actual cash <br />(ii) Divide the amount determined <br />value: <br />in paragraph (1) above by the <br />(a) Used or second-hand <br />number of days from the <br />merchandise held in storage or for <br />installation of improvements <br />sale; <br />to the expiration of the lease. <br />(b) Property of others. However, if an <br />If your lease contains a renewal <br />item(s) of personal property of <br />option, the expiration of the <br />others is subject to a written <br />renewal option period will replace <br />contract which governs your <br />the expiration of the lease in this <br />liability for loss or damage to that <br />procedure. <br />item(s), then valuation of that <br />(c) Nothing if others pay for repairs or <br />item(s) will be based on the <br />replacement, <br />amount for which you are liable <br />(6) "Valuable papers and records" at the <br />under such contract, but not to <br />cost of restoration or replacement, <br />exceed the lesser of the <br />including the cost of data entry, re - <br />replacement cost of the property <br />programming, computer consultation <br />or the applicable Limit of <br />services and the "media" on which the <br />Insurance; <br />data or programs reside. To the extent <br />(c) Household contents, except <br />that the contents of the "valuable <br />personal property in apartments or <br />papers and records" are not restored, <br />rooms furnished by you as <br />the "valuable papers and records" will <br />landlord; <br />be valued at the cost of replacement <br />(d) Manuscripts; <br />with blank materials of substantially <br />identical type. <br />(a) Works of art, "antiques" or rare <br />articles, including but not limited <br />(7) "Money" at its face value; and <br />to, etchings, pictures, statuary, <br />(8) "Securities" at their value at the close <br />marbles, bronzes, porcelains, <br />of business on the day the loss is <br />glassware and bric-a-brac not <br />"discovered". <br />otherwise covered in SECTION I — <br />(g) Accounts Receivable: <br />PROPERTY, A. Coverage, 5. <br />Additional Coverage, x. Fine <br />(a) If you cannot accurately establish <br />Arts; or <br />the amount of accounts receivable <br />(f) Commercial Tools and Small <br />outstanding as of the time of loss <br />or damage: <br />Equipment and Contractors Tools <br />and Equipment. This does not <br />(1) We will determine the total of <br />apply to your Commercial Tools <br />the average monthly amounts <br />and Small Equipment permanently <br />of accounts receivable for the <br />installed or exclusively used at the <br />12 months immediately <br />described premises. <br />preceding the month in which <br />(4) Glass at the cost of replacement with <br />the loss or damage occurs; <br />and <br />safety glazing material if required by <br />law. <br />(ii) We will adjust that total for <br />(5) Tenant's Improvements and <br />any normal fluctuations in the <br />Betterments at: <br />amount of accounts <br />receivable for the month in <br />(a) Replacement cost if you make <br />which the loss or damage <br />repairs promptly. <br />occurred or for any <br />(b) A proportion of your original cost if <br />demonstrated variance from <br />you, as the tenant, do not make <br />the average for that month. <br />repairs promptly. We will <br />(b) The following will be deducted <br />determine the proportionate value <br />from the total amount of accounts <br />as follows: <br />receivable, regardless of how that <br />(i) Multiply the original cost by <br />amount is established: <br />the number of days from the <br />(1) The amount of the accounts <br />loss or damage to the <br />for which there is no loss or <br />expiration of the lease; and <br />damage; <br />391-1003 08 16 Includes copyrighted matedal of Insurance services Office, Inc., with its permission. Page 49 of 81 <br />