FLOOD07997

• County: Statewide
• Basin: Statewide
• Title: Flood Insurance Manual
• Date: 10/1/1992
• Prepared For: US
• Prepared By: National Flood Insurance Program
• Floodplain - Doc Type: Project

declarations form auached to this policy. this insurance shall continue in
force only for the benefit of such mortgagee (or trustee) for 30 days lifter
written notice to the mortgagee (or trustee) of termination of this policy.
and shall then terminate.
In connection with the renewal of this policy. you will be requesteddur-
ing Ihe policy term to recertify. on a Recertification Questionnaire we will
provide you. the rating information used to rale your most recent applica.
tlon for or renewal of Insurance.
Notwithstanding your responsibility 10 submit the appropriate renewal
premium in sufficient time to permit its receipt by us prior to the expiration
of the policy being renewed. we have established a business procedure for
mailing renewal notices 10 assist insureds in meeting their responsibility.
Regarding our business procedure. evidence of the placing of any such
notices into the U.S. Postal Service. addressed to you at the address ap-
pearing on your most recent application or other appropriate form (received
by the NFIP prior to the mailing of the renewal notice by us). does. in all
respects. for puqxtSes of the NFIP presumptively establish delivery to you
for all purposes irrespective of whether you actually received the notice.
However. in the event we detennine that. through any circumstances.
any renewal notice was not placed into the U.S. Postal Service. or. ifplaced.
was prepared or addressed in a manner which we determine could preclude
the likelihood of it being actually and timely received by you prior to the
due date for the renewal premium. the following procedures shall be
followed:
In the event that you or your agent notifies us riot later than one year
after the date on which the payment of the renewal was due. of a nonreceipt
of a renewal notice prior to the due date for the renewal premium. which
we determine was auributable to the above circumstanCes. we shall mail
a second bill providing a revised due date. which shall be thirty days after
the dale on which the bill is mailed. If the renewal paymenl is received
by such revised due date. the policy shall be renewed as of the date on which
the prior policy would have expired. If the renewal payment requested by
reason of the second bill is not received by the revised due date. no renewal
shall occur and the policy shall remain an expired policy as of the expira.
tion date prescribed on the policy.
H. Alterations and Repairs: You may. at any time and at your own ex-
pense. make alterations, additions and repairs to the insured property and
complete structures in the course of construction.
I. RequlremeDts In Case of Loss: Should a flood loss occur to your in-
sured property. you must:
I. Notify us in writing as soon as practicable;
2. As soon as reasonably possible. separate the damaged and undam-
aged property. putting it in the best possible order so that we may examine
it; and
3. Within 60 days after the loss. send us a proof of loss. which is your
statement as to the amount you are claiming under the policy signed and
sworn to by you and furnishing us with the following information:
a. The date and time of the loss.
b. A brief explanation of how the loss happened,
c. Your interest in the property damaged (for example, "owner") and
the interests, if any. of others in the damaged property,
d. The actual cash value of each damaged item of insured property after
depreciation is deducted from the Cost of replacement of the property (unless
the policy's . 'REPLACEMENT COST PROVISIONS" apply. in which
case tlK. replacement cost without allowance for depreciation shoold be fur-
nished) and the amount of damages sustained.
e. Names of mortgagees or anyone else having a lien. charge or claim
against the insured property.
f. Details as to any other contracts of insurance covering the property.
whether valid or not.
g. Details of any changes in ownership. use. occupancy, location or
possession of the insured property since the policy was issued.
h. Details as to who occupied any insured building at the time of loss
and for what purpose, and
i. The amount yoo claim is due under this policy to cover the loss. in-
cluding statements concerning:
(i) The limits of coverage stated in the poiicy.
fii) The cost to repair or replace the damaged property (whatever costs
less).
4. The insurance adjuster whom we hire to investigate your claim may
furnish you with a proof of loss fonn. and "he or he may help you to com.
plete it. However, this is a maner of courtesy only, and you must still send

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us a proof of loss within 60 days after the loss even if the adjuster does
not furnish the fonn or help you complete it. In completing the proof of
loss. you must use your own judgment concerning the amount of loss and
the justification for that amount; the adjuster is not authorized to approve
or disapprove c1aimsorto teU you whether your claim will be approved by us.
5. We may. at our option. waive the requirement for the completion and
filing of a Proof of Loss m certain cases. in which event you will be re-
quired to sign and, at our option. swear to an adjuster's report of the loss
which includes infonnation aboul your loss and the damages needed by
us in order to adjust your claim;
6. Any false statements made in the course of presentment of a claim
under this policy may be punishable by fine or imprisonment under the ap-
plicable Federal Laws. '
J. Our Options After a Loss: Options we may. in our sole discretion.
exercise after loss include the following:
I. Evidence of Loss: If we specifically request it, in writing, you may
be required to furnish us with a complete inventory of the destroyed. dam-
aged and undamaged property. including details as 10 quantities, costs. ac.
tual cash values. amounts ofloss claims. and any written plans and speciflCa.
tions for repair of the damaged property which you can make reasonably
available to us.
2. Examination Under Oath: We may require you to show us or our
designee. the damaged property, to he examined under oath by our designee
and to sign any transcripts of such examinations; to. at such reasonable
times and places as we may designate. pennit us to examine and make ex-
tracts and copies of all books of accounts, bills. invoices and odter vouchers,
or certified copies thereof if the originals are lost, pertaining to the dam-
aged property.
3. Options to Repair or Replace: We may take all or any part of the
damaged property at the agreed or appraised value and. also. to repair.
rebuild or replace the property destroyed or damaged with other of like
kind and quality within a reasonable time. on giving you notice of our in-
tention to do so within JO days after the receipt of the proof of loss herein
required under "..., above,
4. Adjustment Options: We may adjust loss to any insured property
of others with the owners of such property or with you for their account.
Any such insurance under this policy shall not inure directly or indirectly
10 the benefit of any carrier or other bailee for hire.
K. When Loss Payable: Loss is payable within 60 days after you file
your proof of loss (or within 90 days after the insurance adjuster files an
adjuster's report signed and sworn to by you in lieu of a proof of loss) and
ascertainment of the loss is made: either by agreement between us and you
expressed in writing or by the filing with us of an award as provided in
paragraph"M" . below. If we reject your proof of loss in whole or in part,
you may accept such denial of your claim. or exercise your rights under
this policy. or file an amended proof of loss as long as it is filed within
60 days of the dale of the loss or any extension of time allowed by the
Administrator.
L. Abandonment: Yau may not abandon damaged or undamaged in.
sured property to us.
However, we may pennit you to keep damaged. insured property
(' 'salvage") after a loss and reduce the amount of the loss proceeds payable
to you under the policy by the value of the salvage.
M. Appraisal: If at any time after a loss, we are unable to agree with
you as to the acrual cash value-or, if applicable. replacement cost-ofthe
damaged property so as to determine the amount of loss to be paid to you.
then, on the written demand of either one of us. each of us shall select a
competent and disinterested appraiser and notify the other of the appraiser
selected within 20 days of such demand. The appraisers shall firsl select
a compelent and disinterested umpire; and failing. after 15 days. to agree
upon such umpire. then, on your request or our request, such umpire shall
be selected by a judge of a court of record in the State in which insured
property is located. The appraisers shall then appraise the loss. staling
separately replacement cost. actual cash value and loss to each item; and.
failing lO agree, shall submit their differences. only. to the umpire. An award
in writing. so itemized, of any two (appraisers or appraiser and umpire)
when filed with us shall determine the amount of actual cash value and loss
or, should this policy's replacement cost provisions apply. the amount of
replacement cost and loss. Each appraiser shall be paid by the party selec-
ting him and the expenses of appraisal and umpire shall be paid by both
of us equally.
N. Loss Clause: If we pay you for damage to property sustained in a

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October 1992