<p style="margin-right:1.45pt; text-align:justify"><span style="font-family:courier new,courier,monospace">IT IS HEREBY UNDERSTOOD AND AGREED, that loss of or damage to property located on or adjacent to the site belonging to or held in care, custody or control of the Principal(s) or Contractor(s) shall be covered up to a maximum policy aggregate limit of <s><u>P</u></s><u>15,000,000.00</u> only if occurring in direct connection with the construction or erection insured under Section I and happening during the period of cover.&nbsp; </span></p>

<p style="margin-right:1.45pt; text-align:justify"><span style="font-family:courier new,courier,monospace">Furthermore, the indemnity shall in any case be restricted to the repair costs of such damaged property and any consequential loss or damage being excluded in the cover.</span></p>

<p style="margin-right:1.45pt; text-align:justify"><span style="font-family:courier new,courier,monospace">This cover does not apply to construction/erection machinery and construction/erection plant and equipment.</span></p>

<p style="margin-right:1.45pt; text-align:justify"><span style="font-family:courier new,courier,monospace"><strong>Deductible: </strong>25% of loss, minimum of <s>P</s>250,000.00<strong>&nbsp; </strong>each and every loss</span></p>
