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~' <br />LOSS PAYABLE CLAUSE <br />Page 2 <br />Loss or damage under this policy shall be paid as interest may appear to you and the loss payee shown on the first page of this <br />certificate. This insurance covering the interest of the loss payee shall not become invalid because ofyow fraudulent acts or omissions, <br />unless the loss results from your conversion, secretion or embezzlement of your covered auto. However, we reserve the right to cancel <br />the policy as permitted by policy terms and the cancellation shall terminate this agreement as to the loss payee's interest. We will give the <br />same advance notice of cancellation to the loss payee as we give to the named insured shown in the declarations. <br />When we pay the loss payee, we shall, to the extent of payment, be subrogated to the loss payee's rights of recovery. <br />LOSS PAYABLE CLAUSE (NORTH CAROLINA) <br />Loss or damage under this policy shall be paid as interest may appear to you and the loss payee shown on the first page of this <br />certificate. This insurance covering the interest ofhe Ioss payee shall become invalid only because of your conversion, secretion of <br />your covered auto. However, we reserve the right to cancel the policy as permitted by policy terms and the cancellation shall terminate <br />this agreement as to the loss payee's interest. We will give the loss payee 10 days notice of cancellation. <br />When we pay the loss payee, we shall, to the extent of payment, be subrogated to the loss payee's rights of recovery. <br />LOSS PAYABLE CLAUSE (TEXA.S~ <br /> <br />tten. <br />~~ ~ ~ ~ <br />B JAfvlrtl~.lll~i'i<pA. <br />Chle Assistant City ~ltt~irlt <br />~' <br />£OZO T6Z 4T6 XV3 ZT~9T 600Z/60/90 <br />Loss or damage under Coverage for Damage to your Auto shall be paid as interest may appear to you and the loss payee shown on the <br />first page ofthis certificate. This insurance covering the interest of the loss payee shall not become invalid because of your fraudulent <br />acts or omissions, unless the loss results from your conversion, secretion or embezzlement ofyour covered subs. However, we reserve <br />the right to cancel the policy as permitted by policy terms and the cancellation shall terminate this agreement as to the loss payee's <br />interest. We will give the same advance notice of cancellation to the loss payee as we give to the named insured shown in the <br />declarations. <br />When we pay the loss payee, we shall, to the extent ofpayment, be subrogated to the loss payee's rights of recovery. <br />NOTICE TO <br />OTHERS IF "We" will not cancel "Your" Policy or reduce the insurance under any of its coverages until at <br />CANCELLATION least 10 days after we have mailed a written notice of such cancellation or reducxion to the <br />OCCURS person(s) named as additional interest on reverse side. <br />AS 1019 (ed 12-89) <br />Additional Insured (Lessor) -Applies when additional insured is complete! on reverse side. AS 11$7 11 90 <br />(PP 03 l9 08 8t7 <br />Description of "your leased auto": as described on reverse side. <br />Any liability and any required no-fault coverages afforded by this policy for "your leased auto" also apply to the lessor named in this <br />endorsement as an additional inswed. This insurance is subject to the following additional provisions: <br />l . We will pay damages for which the lessor becomes <br />legally responsible only ifthe damages arise out of acts or omissions of: <br />(a) you or any "family member", or <br />(b) any other person except the lessor or any employee or agent of the lessor using "your lease auto". <br />2. "Your lease auto" means: <br />(a) an auto shown in the Declarations or in this endorsement which you lease for a continuous period of at least six months under a <br />written agreement which requires you to provide primary insurance for the lessor, and <br />(b) any substitute or replacement auto furnished by the lessor named in this endorsement. <br />3. if we terminate this policy, notice will also be mailed to the lessor. <br />4. The lessor is not responsible for payment of premiums. <br />5. The designation of the lessor as an additional insured shall not operate to increase our limits of liability. <br />Copyright, Insurance Services Office, Inc., 1986 <br />This endorsement must be attached to the Change Endorsement when issued after the policy <br />£00/£00 ~ <br />