<p style="margin-right:-3.05pt; text-align:justify"><span style="font-family:courier new,courier,monospace">This Policy is extended to include such additional cost of reinstatement of the property lost, destroyed or damaged property thereby insured as may be incurred solely by reason of the necessity to comply with Building or other Regulations under or framed in pursuance of any Ordinance or with By-Laws of any Municipal or Local Authority provided that: </span></p>

<p style="margin-left:0in; margin-right:-3.05pt; text-align:justify"><span style="font-family:courier new,courier,monospace"><!--[if !supportLists]-->1.)&nbsp;The amount recoverable under this Extension shall not include:</span></p>

<p style="margin-left:.75in; margin-right:-3.05pt; text-align:justify"><span style="font-family:courier new,courier,monospace"><!--[if !supportLists]-->a.)&nbsp;the cost incurred in complying with any of the aforesaid Regulation or By-Laws.</span></p>

<p style="margin-left:99.0pt; margin-right:-3.05pt; text-align:justify"><span style="font-family:courier new,courier,monospace"><!--[if !supportLists]-->i.) in respect of destruction or damage occurring prior to the granting of this Extension.</span></p>

<p style="margin-left:99.0pt; margin-right:-3.05pt; text-align:justify"><span style="font-family:courier new,courier,monospace"><!--[if !supportLists]-->ii.) in respect of destruction or damage not insured by the Policy.</span></p>

<p style="margin-left:99.0pt; margin-right:-3.05pt; text-align:justify"><span style="font-family:courier new,courier,monospace"><!--[if !supportLists]-->iii.) under which notice has been served upon the Insured prior to the happening of destruction or damage.</span></p>

<p style="margin-left:99.0pt; margin-right:-3.05pt; text-align:justify"><span style="font-family:courier new,courier,monospace"><!--[if !supportLists]-->iv.) in respect of undamaged property or undamaged portions of property</span></p>

<p style="margin-left:.75in; margin-right:-3.05pt; text-align:justify"><span style="font-family:courier new,courier,monospace"><!--[if !supportLists]-->b.) the additional cost that would have been required to make good property damaged or destroyed to a condition equal to its condition when new had the necessity to comply with any of the aforesaid Regulation or By-Laws not arisen.</span></p>

<p style="margin-left:.75in; margin-right:-3.05pt; text-align:justify"><span style="font-family:courier new,courier,monospace"><!--[if !supportLists]-->c.)&nbsp;the amount of any rate, tax duty, development or other charge or assessment arising out of capital appreciation which may be payable in respect of the property or by the owner thereof by reason of compliance with any of aforesaid Regulations or By-Laws.</span></p>

<p style="margin-left:27.0pt; margin-right:-3.05pt; text-align:justify"><span style="font-family:courier new,courier,monospace"><!--[if !supportLists]-->2.)&nbsp;The work of reinstatement must be commenced and carried out with reasonable dispatch and in any case must be commenced within twelve months after the destruction or damage or within such further time as Insurers may (during the said twelve months) in writing allow and may be carried out wholly or partially upon another site (if the aforesaid Regulations or By-laws so necessitate) subject to the liability of Insurers under this Extension not being thereby increased.</span></p>

<p style="margin-left:27.0pt; margin-right:-3.05pt; text-align:justify"><span style="font-family:courier new,courier,monospace"><!--[if !supportLists]-->3.) If the liability of Insurers under (any item of) the Policy apart from this Extension shall be reduced by the application of any of the terms and conditions of the Policy then the liability of Insurers under this extension (in respect of any such item) shall be reduced in like proportion.</span></p>

<p style="margin-left:27.0pt; margin-right:-3.05pt; text-align:justify"><span style="font-family:courier new,courier,monospace"><!--[if !supportLists]-->4.) The total amount recoverable under any item of the Policy shall not exceed the sum insured thereby.</span></p>

<p style="margin-left:27.0pt; margin-right:-3.05pt; text-align:justify"><span style="font-family:courier new,courier,monospace"><!--[if !supportLists]-->5.) All the conditions of the Policy except insofar as they may be hereby expressly varied shall apply as if they had been incorporated therein.</span></p>

<p style="margin-right:-3.05pt; text-align:justify"><span style="font-family:courier new,courier,monospace">Limit of Indemnity : <s>P</s>2,000,000.00 Aggregate </span></p>
