<p><br />
SCHEDULE EQUIPMENT FLOATER &ndash; ALL RISKS ENDORSEMENT<br />
(Non-Commercial Vehicle)</p>

<p>PROPERTY FLOATER&nbsp;</p>

<p>1.&nbsp;&nbsp; &nbsp;PROPERTY INSURED &ndash; Covering upon the property and equipment described in the policy including appurtenances thereof, attached thereto and/or contained thereon, for an amount not exceeding that &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; shown &nbsp; with respect of each scheduled item as stated in the description.<br />
Warranted by the Assured that the property insured hereunder is in sound condition at the time of attachment of &nbsp; this policy.</p>

<p>2.&nbsp;&nbsp; &nbsp;LIMIT OF LIABILITY &ndash; It is agreed that the limit of liability for which this Company may be liable for any one loss, disaster or casualty including &nbsp;salvage charges, sue and labor, or other expenses, or all combined, shall not exceed to the limit of liability</p>

<p>3.&nbsp;&nbsp; &nbsp;THIS ENDORSEMENT INSURES AGAINST:<br />
ALL RISKS OF DIRECT PHYSICAL LOSS OR DAMAGE FROM ANY EXTERNAL CAUSE TO THE INSURED PROPERTY (INCLUDING GENERAL AVERAGE AND SALVAGE CHARGES FOR WHICH THE ASSURED BECOMES LEGALLY LIABLE) EXCEPT AS HEREINAFTER PROVIDED.</p>

<p>4.&nbsp;&nbsp; &nbsp;In addition to the exclusions in the policy form to which this endorsement is attached. &nbsp;THIS ENDORSEMENT DOES NOT INSURE AGAINST:<br />
&nbsp;<br />
a)&nbsp;&nbsp; &nbsp;Loss or damage to the property insured caused by or resulting from wear and tear, gradual deterioration, inherent vice, latent defect, mechanical, breakdown, corrosion, rust, dampness of the atmosphere or freezing unless such damage is the result of other loss covered by this endorsement&nbsp;</p>

<p>b)&nbsp;&nbsp; &nbsp;Theft, wrongful conversion or embezzlement by Assured&rsquo;s employees or by any person to whom the insured property is entrusted;</p>

<p>c)&nbsp;&nbsp; &nbsp;Loss or damage to tires or tubes due and confined to blowout, bruises, cuts or other cause inherent in the use of the equipment, unless such damage is the result of other loss covered by this policy.</p>

<p><br />
d)&nbsp;&nbsp; &nbsp;Loss or damage caused by or resulting from strikes, lockouts, labor disturbances, riots, civil commotions , or &nbsp;the acts of any person or persons taking part in any such occurrence or disorder;</p>

<p>e)&nbsp;&nbsp; &nbsp;Loss or damage caused directly or indirectly, by: (a) enemy attack by armed forces, including action taken by military, naval or air forces in resisting an actual or an immediately impending enemy attack; or (b) invasion, insurrection, rebellion, revolution, civil war, unsurped power; or (c) seizure or destruction under quarantine or customs regulations, confiscation by order of any government or Public Authority, risks of contraband, or illegal transportation or trade;&nbsp;</p>

<p>f)&nbsp;&nbsp; &nbsp;Loss If, at the time of loss or damage, there is any other valid and collectible insurance which would attach if this insurance had not been effected, except that this insurance shall apply only as excess and in no event as contributing insurance and then only after all such other insurance has been exhausted;</p>

<p>g)&nbsp;&nbsp; &nbsp;Consequential loss or damage of any kind or description whatsoever including (a) delay in completing, negotiating and loss of contracts (b) deterioration and loss of market.</p>

<p>h)&nbsp;&nbsp; &nbsp;Subside, Landslide, Landslip, Mining Risk</p>

<p>5.&nbsp;&nbsp; &nbsp;Notwithstanding any other conditions contained herein it shall be optional with the Company, in the event of loss or damage to the property insured, to take delivery of such property; and also repair or replace the property lost or damaged with other of like kind and quality within reasonable time, provided notice of such intention is given within fifteen days after receipt of satisfactory proof of loss.</p>

<p>6.&nbsp;&nbsp; &nbsp;DEDUCTIBLE &ndash; Each claim for loss or damage shall be adjusted separately and from the amount of each adjusted claim or the applicable limit of liability, whichever is less, the sum of ( ) shall be deducted. &nbsp;Such deductible shall not apply, however, to loss or damage by fire, lightning, windstorm, cyclone, tornado, hail and explosion.</p>

<p>7.&nbsp;&nbsp; &nbsp;CO-INSURANCE &nbsp;- &nbsp;This company shall not be liable for a greater proportion of the loss or damage to the property scheduled herein than the total sum insured under said schedule bears to ONE HUNDRED (100%) percent of the actual cash value of said property at the time such loss or damage shall happen.</p>

<p>8.&nbsp;&nbsp; &nbsp;All this endorsement shall be issued only in accordance with Section 50 of the Insurance Code.<br />
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