<p>The insurance of this policy extends to include additional cost of reinstatement of the destroyed or damaged property hereby 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, Law, Statute or with By-Laws of any Municipal or Local Authority provided that:</p>

<ol>
	<li>The amount recoverable under this Extension shall not include:
	<ol start="1" style="list-style-type:lower-alpha">
		<li>the cost incurred in complying with any of the aforesaid Regulations or By-Laws;
		<ol start="1" style="list-style-type:lower-roman">
			<li>in respect of destruction, or damage occurring prior to the granting of the extension;</li>
			<li>in respect of destruction or damage not insured by this policy;</li>
			<li>under which notice has been served upon the insured prior to the happening of the destruction or damage;</li>
			<li>in respect of undamaged property or undamaged&nbsp; portions&nbsp; of&nbsp; the property, other&nbsp;than&nbsp;foundation&nbsp;(unless&nbsp;foundations&nbsp;are&nbsp;specifically excluded from&nbsp;the&nbsp;insurance of this&nbsp;policy)&nbsp;of&nbsp;that&nbsp;portion&nbsp;of&nbsp;the&nbsp;property destroyed&nbsp;or&nbsp;damaged.</li>
		</ol>
		</li>
		<li>the&nbsp; additional&nbsp; cost&nbsp; that&nbsp; would&nbsp; have&nbsp; been&nbsp; required&nbsp; to&nbsp; make&nbsp; good&nbsp; the&nbsp;&nbsp;&nbsp; property damaged&nbsp;&nbsp; or&nbsp; destroyed&nbsp; to&nbsp; a&nbsp; condition&nbsp; equal&nbsp;&nbsp; to&nbsp;&nbsp; its&nbsp;&nbsp; conditions&nbsp; when&nbsp; new&nbsp; had&nbsp; the necessity to comply with any of the aforesaid regulations or By-Laws not arisen.</li>
		<li>the amount of any&nbsp; rate, tax, duty, development&nbsp; or&nbsp; other&nbsp; charges&nbsp; or&nbsp;&nbsp; assessment&nbsp;&nbsp;&nbsp;&nbsp; arising out of&nbsp; capital appreciation which may be payable in respect of&nbsp; the&nbsp; property&nbsp;or by the owner&nbsp; thereof&nbsp; by&nbsp;&nbsp; reason&nbsp; of&nbsp;&nbsp; compliance&nbsp; with&nbsp;&nbsp; any&nbsp;&nbsp; of&nbsp;&nbsp; the&nbsp; aforesaid&nbsp;Regulations or By-Laws.</li>
	</ol>
	</li>
	<li>The&nbsp;work&nbsp;of&nbsp;reinstatement&nbsp;must&nbsp;be&nbsp;commenced&nbsp;and&nbsp;carried out with reasonable&nbsp;dispatch&nbsp;and in&nbsp;any&nbsp;case&nbsp;must&nbsp;be&nbsp;commenced&nbsp;within&nbsp;twelve&nbsp;(12)&nbsp;months after&nbsp;the&nbsp;destruction&nbsp;or&nbsp;damage&nbsp;within&nbsp;further&nbsp;time&nbsp;as&nbsp;the Insurer may (during the said&nbsp;twelve&nbsp;months)&nbsp;in&nbsp;writing&nbsp;allow and may be carried&nbsp;out&nbsp;wholly or partially upon another&nbsp;site&nbsp;(if&nbsp;the aforesaid&nbsp;Regulations&nbsp;or&nbsp;By-Laws&nbsp;so&nbsp;necessitate), subject&nbsp;to&nbsp;the&nbsp;liability&nbsp;of the Insurer under this extension not being thereby increased.</li>
	<li>If the liability of Insurer under (Any&nbsp;item&nbsp;of)&nbsp;the policy apart from&nbsp;this&nbsp;extension&nbsp;shall&nbsp;be&nbsp;reduced by&nbsp;the application of&nbsp;the&nbsp;terms&nbsp;and&nbsp;conditions&nbsp;of&nbsp;the&nbsp;policy, then&nbsp;the liability&nbsp;of&nbsp;Insurer under this extension&nbsp;(in&nbsp;respect&nbsp;of&nbsp;any&nbsp;such&nbsp; claim)&nbsp;shall&nbsp;be&nbsp;reduced&nbsp;in&nbsp;like&nbsp;proportion.</li>
	<li>The&nbsp;total&nbsp;amount&nbsp;recoverable&nbsp;under&nbsp;(any&nbsp;item&nbsp;of)&nbsp;this&nbsp;policy&nbsp;shall&nbsp;not&nbsp;exceed&nbsp;the&nbsp;sum&nbsp;insured thereby.</li>
</ol>

<p>All the conditions of the policy except insofar as they may be hereby expressly varied shall apply as if they had been incorporated therein.</p>
