<p style="text-align:justify">Notwithstanding anything contained herein to the contrary, IT IS HEREBY DECLARED AND AGREED&nbsp; that the premium and its corresponding taxes in this policy is payable by installment as herein enumerated.</p>

<ul>
	<li style="text-align:justify">1<sup>st</sup> Installment Premium Due and payable upon issuance&nbsp;P</li>
	<li style="text-align:justify">2<sup>ND</sup> Installment Premium Due and payable on or before&nbsp;P&nbsp;&nbsp;</li>
	<li style="text-align:justify">3<sup>RD</sup> Installment Premium Due and payable on or before&nbsp;P&nbsp;&nbsp;&nbsp;</li>
	<li style="text-align:justify">4<sup>TH </sup>Installment Premium Due and payable on or before&nbsp;P</li>
</ul>

<p style="text-align:justify">In the event of any above schedule payment are not received in full on or before the due dates&nbsp;mentioned above, this insurance shall be deemed to have ceased at 4:00 p.m. of such date.&nbsp;Thereafter, this policy shall automatically become null and void and ineffective unless prior to the expiration of said period, the insured shall have actually&nbsp;paid to the company the total premium and the corresponding&nbsp;taxes as indicated in the above scheduled payment.</p>

<p style="text-align:justify">In the event of loss covered hereunder during the currency of this policy, all future installments shall immediately become due and payable and the Company shall be entitled to take credit therefore.</p>
