<p>THE COMPANY HEREBY AGREE with the insured (subject to the terms and conditions, endorsed or otherwise expressed hereon, which are to be taken as part of this policy), that if the Property above described, or any part thereof, shall be destroyed or damaged by Fire or Lightning, after payment of the premium by the insured to the Company, during the term of this policy as indicated in the schedule of before 4:00 PM of the last day of any subsequent period in respect &nbsp;of which the insured, or a successor in interest to whom the insurance is by an endorsement hereon declared to be or is otherwise continued, shall pay to the Company, and the Company shall accept the sum required for the renewal of the Policy, the Company will pay or make good all such Loss or Damage to an amount not exceeding during any one period of Insurance in respect of the several matters specified, therein the sum set opposite thereto respectively, and not exceeding in the whole the total of the therein mentioned sums insured in the Philippines&nbsp;&nbsp; &nbsp;currency. &nbsp;</p>

<p>IT WITNESS WHEREOF, the Company has caused this Policy to be signed by its duly authorized representatives.<br />
&nbsp;</p>
