<p style="margin-right:1.45pt; text-align:justify"><span style="font-family:arial,sans-serif">IT IS HEREBY UNDERSTOOD AND AGREED that the deductibles, the amount to be first borne by the Insured in respect of each and every occurrence for loss or damage to Section I - Material Damage under this Policy shall be as follows:</span></p>

<p style="margin-left:31.5pt; margin-right:38.5pt; text-align:justify"><span style="font-family:arial,sans-serif">&nbsp;</span></p>

<p style="margin-left:2.0in; margin-right:47.5pt"><span style="font-family:arial,sans-serif">a.)&nbsp;&nbsp; 5% of loss, minimum &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp; for each and every loss or damage arising out of</span></p>

<p style="margin-left:2.0in; margin-right:47.5pt"><span style="font-family:arial,sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of <s>P</s>500,000.00&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; earthquake, storm, typhoon, cyclone,&nbsp; flood,&nbsp; inundation,&nbsp; subsidence,&nbsp; landslide,&nbsp;&nbsp; collapse,&nbsp;&nbsp;&nbsp; rockslide, tempest, volcanism, tsunami or wave, broad water damage.</span></p>

<p style="margin-left:2.0in; margin-right:47.5pt"><span style="font-family:arial,sans-serif">&nbsp;</span></p>

<p style="margin-left:2.0in; margin-right:47.5pt"><span style="font-family:arial,sans-serif">b.)&nbsp;&nbsp; 5% of loss, minimum&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp; -&nbsp; for each and every loss or damage arising out of</span></p>

<p style="margin-left:2.0in; margin-right:47.5pt"><span style="font-family:arial,sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of <s>P</s>250,000.00&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; any other cause.</span></p>
