FERGUSON GROUP 2 - 2004 - Laserfiche WebLink

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FE-6587 INCREASED COST AND DEMOLITION COVERAGE ENDORSEMENT 1. In the event a building covered under Cover- age A sustains an insured loss, we will pay for: a. the increased cost to repair or rebuild the building caused by enforcement of a building, zoning or land use ordi- nance or law if the enforcement is directly caused by the same insured loss and the requirement is in effect at the time the insured loss occurs. If the building is repaired or rebuilt, it must be intended for similar occupancy as the current building unless otherwise required by zoning or land use ordi- nance or law; and b. the cost to demolish and clear the site of undamaged portions of the building caused by enforcement of a building, zoning or land use ordinance or law if the enforcement is directly caused by the same insured loss and the require- ment is in effect at the time the insured loss occurs. 2. We will not pay for: a. the costs associated with the enforce- ment of any ordinance or law which requires any insured or others to test for, monitor, clean up, remove, contain, treat, detoxify or neutralize, or in any way respond to, or assess the effects of pollutants, meaning any solid, liquid, gaseous or thermal irritant or contami- nant, including vapor, soot, fumes, acids, alkalis, chemicals and waste; b. any loss of value of the undamaged portion of the building caused by enforcement of any ordinance or law; or c. any increased cost of construction under this endorsement: (1) until the covered building is actu- ally repaired or replaced at the same or another premises in the same general vicinity; and (2) unless the repairs or replacement are made as soon as reasonably possible after the loss, not to exceed two years. We may extend FE-6587 this period in writing during the two years. 3. To the extent of any coverage provided under this endorsement, the following item 1.a. is deleted from LOSSES NOT INSURED under SECTION I LOSSES INSURED AND LOSSES NOT INSURED: a. the enforcement of any ordinance or law: (1) reg ulating the construction, use or repair of any property; or (2) requiring the tearing down of any property, including the cost of removing its debris; 4. We will not pay more for the increased cost to repair or rebuild the building at the same or another premises in the same general vicinity if relocation is required by ordinance or law, and the cost to demolish and clear the site of undamaged parts of the building caused by enforcement of building, zoning or land use ordinance or law than the lesser of: a. the amount you actually spend to demolish and clear the site of the undamaged portion of the building plus the increased cost to repair or rebuild the building but not for more than a building of the same height, floor area and style on the same premises as the covered building; or b. 10% of the Coverage A limit of insur- ance on the building at the time of loss. This coverage does not increase the limit of insurance applicable to the building. 5. The terms of this endorsement apply sepa- rately to each building to which the policy applies. However, if more than one building is insured under a single Coverage A limit of insurance shown in the Declarations, the most we will pay in anyone occurrence, regardless of the number of buildings involved, is 10% of that single limit of insur- ance. All other policy provisions apply.