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(ii) The amount of the accounts g. We will pay for covered loss or damage that you are able to re- within 30 days after we receive a properly establish or collect; completed sworn proof of loss, provided (iii) An amount to allow for you have complied with all of the terms of probable bad debts that you this Coverage Form, and are normally unable to collect; (1) We have reached agreement with you and on the amount of loss; or (iv) All unearned interest and (2) An appraisal award has been made. service charges. h. In settling covered losses involving a party (10)"Stock" you have sold but not wall, we will pay a proportion of the loss, delivered at the selling price less to the party wall based on your interest in discounts and expenses you the wall in proportion to the interest of the otherwise would have had. owner of the adjoining building. A party (11)"Finished stock" you manufactured at wall is a wall that separates and is selling price less discounts and common to adjoining buildings that are expenses you otherwise would have owned by different parties. However, if you had. elect to repair or replace your building and the owner of the adjoining building elects (12)Personal Property in Transit (other not to repair or replace that building, we than "stock' you have sold) at the will pay you the full value of the loss to the amount of invoice, including your party wall, subject to all applicable policy prepaid or advanced freight charges provisions including Limits of Insurance, and other charges which may have the Valuation and all other provisions of accrued or become legally due since this Loss Payment Condition. Our the shipment. If you have no invoice, payment under the provisions of this actual cash value will apply. paragraph does not alter any right of (13)Precious metals, such as gold, silver subrogation we may have against any and platinum, at the average market entity, including the owner or insurer of the cost of replacements on the date of adjoining building, and does not alter the loss, or the actual cost of the terms of SECTION III — COMMON replacement, if less. POLICY CONDITIONS, K. Transfer of (14)"Fine Arts" Rights of Recovery Against Others to Us in this policy. We will pay the lesser of: 6. Recovered Property (a) The market value at the time of loss or damage; If either you or we recover any property after loss settlement, that party must give the other (b) The reasonable cost of repair or prompt notice. At your option, you may retain restoration to the condition the property. But then you must return to us immediately before the covered the amount we paid to you for the property, loss or damage; or We will pay recovery expenses and the (c) The cost of replacement with expenses to repair the recovered property, substantially identical property. subject to SECTION I — PROPERTY, C the a. Our payment for loss of or damage to Limits of Insurance. personal property of others will only be for 7. Vacancy the account of the owners of the property. a. Description of Terms We may adjust losses with the owners of lost or damaged property if other than you. (1) As used in this Vacancy Condition, the If we pay the owners, such payments will term building and the term vacant satisfy your claims against us for the have the meanings set forth in owners' property. We will not pay the paragraphs (a) and (b) below: owners more than their financial interest in (a) When this policy is issued to a the Covered Property, tenant, and with respect to that f. We may elect to defend you against suits tenant's interest in Covered arising from claims of owners of property. Property, building means the unit We will do this at our expense. or suite rented or leased to the tenant. Such leased space is vacant when it does not contain 391.1003 08 16 Includes copyrighted material of Insurance Services Office, Inc., with its permission. Page 50 of 81