<p>It is hereby declared and agreed that the premium of this policy is payable as follows:</p>

<p>P_______________ due and payable on _________________</p>

<p>&nbsp; _______________ due and payable on _________________</p>

<p>&nbsp; _______________ due and payable on _________________</p>

<p>&nbsp; _______________ due and payable on _________________</p>

<p>In the event the initial payment or any installment not being received on or before the due dates above mentioned, 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 paid to the company the total expenses due and the corresponding documentary stamp tax, fire service tax, value added tax and local government tax as indicated in the bills to be issued prior to the due dates.</p>

<p>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 thereof.</p>
