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<br />of the total value of the pair or set, giving consideration to the imp:>rtance
<br />of said article, but such loss shall not be construed to mean total loss of
<br />the pair or set.
<br />B, Concealment. Fraud: This entire p:>licy shall be void and no renewal
<br />nor new flood insurance coverage can be issued to the Insured if, whether
<br />before or after the loss, the Insured has willfully concealed ormisrepresented
<br />any material fact or circumstance concerning this insurance or the subject
<br />thereof, or the inlerest of the Insured therein, or in case of any fraud or
<br />false swearing by the Insured relating thereto (see "E", below). In addi-
<br />tion, this entire p:>licy shall be void if the Insured has willfully concealed
<br />or misrepresented any fact, on a "Recertification Questionnaire," which
<br />causes the Insurer to issue a policy to the Insured based on a premium amount
<br />which is less than the premium amount which would have been payable
<br />by the Insured if it were not for the misrepresentation of fact (See "J",
<br />below).
<br />C. Other Insurance: The Insurer shall not be liable for a greater pro-
<br />portion of any loss, less the amount of deductible, from the peril of flood
<br />than the amount of insurance under this policy bears to the whole amount
<br />of flood insurance (excluding therefrom any amount of' 'excess insurance"
<br />as hereinafter defined) covering the property, or which would have covered
<br />the property e~cept for the existence of this insurance, whether collectible
<br />or not. In other words, if the Insured obtains additional flood insurance
<br />to cover the structure insured by this policy beyond that obtained uDder
<br />the authority of the National Flood Insurance Act of 1968, as amended,
<br />then the Insured must acquire the maximum amount of available flood in-
<br />surance under said Act in order to avoid the imposition of proration as
<br />described in the precediR8 sentence.
<br />In the event tIw the whoie amount of flood insurance (excluding therefrom
<br />any amount of "excess insurance" as hereinafter defined) covering the pr0p-
<br />erty exceeds the maximum amount of insurance permitted under the provi~
<br />sions of the National Flood. Insurance Act of 1968, or any acts amendatory
<br />thereof, it is hereby undehtood and agreed that the insurance under this
<br />policy shall be limited to a proportionate share of the maximum amount
<br />of insurance permitted on such property under said Act, and that: a refund
<br />of any extra premium paid, computed on a pro rata basis, shall be made
<br />by the Insurerupon request in writing submitted not later than 2 yean after
<br />the expiration of the policy term during which such extra amount of in.
<br />surance was in effect.
<br />"Excess insurance" as used herein shall be held to mean insurance of
<br />such part of the ac:tual casb value of the property as is in excess of the max.
<br />imum amount of insurance permitted under said Act with respect to such
<br />property .
<br />D. Added and Waiver Provisions: The extent of the application of in-
<br />surance under this policy and of the contribution to be made by the Insurer
<br />in case of loss, and any other provision or agreement nol inconsistent with
<br />the provisions of Ibis policy, may be provided for in writing added hereto,
<br />but no provision may be waived except such as by the tenns of this p:>licy
<br />is subject 10 change.
<br />No permission affecting this insurance shall exist, or waiver of any pr0-
<br />vision be valid, unless granted herein ()f expressed in writing added hereto.
<br />No provision. stipulation or forfeiture shall be held to be waived by any
<br />requirement or proceeding on the part of the Insurer relating to appraisal
<br />or to any examination provided for herein.
<br />E. V_. Redu<tloo or Reformation oftb< Co_:
<br />I, Voidaoee: This policy will be void and of no legal force and effect
<br />in the event that anyone of the following conditions occurs:
<br />a. The property listed on the application is not eligible for coverage, in
<br />which case the policy is void from its inception:
<br />b. The community in which the property is located was not participating
<br />in the National Flood Insurance Program on the policy's inception date and
<br />did not qualify as a participating community during the policy's term and
<br />before the occurrence of any loss for which the Insured may receive com.
<br />pensation under the policy, in which case the policy is void from its inception;
<br />c. If, during the tenn of the policy ,the participation in the National Flood
<br />Insurance Program of the community in which the Insured's property is
<br />located ceases, in which case the policy shall be deemed void effective at
<br />the end of the last day of the policy year in which such cessation occurred
<br />and shall not be renewed; in the event the voided policy included three p:>licy
<br />years in a contract term of three years, the Insured shall be entitled to a
<br />pro-rata refund of any premium applicable to the remainder of the pllicy's
<br />tenD after voidance of the policy;
<br />d. The Insured or the Insured's agent has (i) sworn falsely or (ii)
<br />
<br />POL 28
<br />
<br />fraodu1eotly or willfully lXlI1Ce&Ied or mi'represellled ony _ fact (in-
<br />cluding facts relevant to the rating of this policy) in the application for
<br />coverage, or upon any renewal of coverage, or in connection with the sub-
<br />mission of any claim brought under the policy, in which case this entire
<br />policy shall be void as of the date the wrongful act was committed and
<br />coverage prior to the date of the wrongful act shall not be affected, provid-
<br />ed, refunds of premiums, ifany, shall be subject to offsets for the Insurer's
<br />administrative expenses (including the payment of agent's commissions
<br />through prior policy years, if any) in connection with the issuance of the
<br />policy;
<br />e. The premium submitted is less than the minimum premium set forth
<br />in 44 CFR 61.10 in connection with any application for a new policy or
<br />policy renewal, in which case the policy is void from its inception.
<br />2. ReductiOD of Coverage Limjts or RetormatiOD: In the event that
<br />the premium payment received by the Insurer is not sufficient to purchase
<br />the amounts of building coverage and contents (personal property) coverage
<br />requested or in the event a rating error has been innocently made by the
<br />. Insured or the agent on the application, renewal, endorsement or other fann
<br />(whether evident or not) resulting in insufficient premium being received
<br />by the Insurer for the purchase of the amounts of coverage requested, then:
<br />(i) If the insuff"K:ient premium or oIber rating error is diseovered by the
<br />Insurer prior to a loss under the policy, the policy shall be deemed to pro-
<br />vide only such coverage as can be purchased for the entire term of the policy ,
<br />with the amount of premium received; provided, the Insured may increase
<br />any reduced coverage(s) at any time by payment of the correct premium
<br />for the additional limits of coverage requested and any such correct premium
<br />received by the Insurer prior to any loss under the policy shall result in
<br />coverage being provided for the loss up 10 the additional amount of coverage
<br />requested by the Insured; the application of the insufficient premium received
<br />to the provision of flood insurance coverage shall be made as follows:
<br />a. In the cvel\l thatonly one kind of coverage (building coverage or con-
<br />lents coverage) has been requested, the Insured shall receive the limits of
<br />that kind of coverage which can be purchased for the amount of premium
<br />received, less the expense constant;
<br />b. In the event that both building coverage and contents coverage have
<br />been requested, the Insurer shall determine the percentage ratio that each
<br />kind of insurance bears to the toIal amount of coverage requested, appor~
<br />tion the toIal premium received by the percentage ratio for each kind of
<br />coverage. and the Insured shall receive, as to each kind of coverage re-
<br />quested, the amount of coverage which can be purchased by the premium
<br />amount as apportioned foreacb kind of coverage; where both building and
<br />contents coverage are requested and a coverage's proportion oflhe premium
<br />paid is more than suffiCient to obtain the amount of insurance requested
<br />for that coverage, any excess of that proportion of the toIa1 premium will
<br />be applied to obtain an additional amount of the other kind of coverage un-
<br />til the amount of insurance requested for the other coverage is obtained;
<br />(ii) If the insuffiCient premium or other rating error is discovered by the
<br />Insurer at the time of a loss under the policy, the policy shall be deemed
<br />to provide coverage pursuant 10 the provisions of (i), above. unless:
<br />t, lbe Insured ()f the Insured's agent bas sworn falsely or fraudulendy
<br />or willfully concealed or misrepresented any material fact (including facts
<br />relevant to the rating of Ibis policy) in the application for coverage, or upon
<br />any renewal of coverage, or in connection with the submission of any claim
<br />brought under this policy, in which case this entire policy shall be void
<br />as of the date the wrongful act was committed and coverage prior to the
<br />date of the wrongful act shall.... be_; provided. refundsofpremiwns,
<br />if any, shall be subject to offsets for the Insurer's administtative expenses
<br />(including the payment of agent's commissions through prior policy yean,
<br />if any) in connection with the issuance of the policy, or
<br />b. Provided (ii) a. above, does not apply, the Insured remits and the in-
<br />surer receives the additional premium required to purchase (for the cur-
<br />rent policy term and the previous policy term, if then insured) the limits
<br />of coverage for each kind of coverage as was initially requested by the In.
<br />sured within thirty (30) days from the date the Insurer gives the Insured
<br />written notice of additional premium due, in which case the policy shall
<br />be reformed, from its inception date, 10 provide flood insurance coverage
<br />to the Insured in the amount(s) of coverage initially requested. Silence or
<br />other failure 10 remit the additional premium required or non-receipt of
<br />such premium by the Insurer within thiny (30) days from the date of notice
<br />of premium due shall be deemed to be refusal to pay the additional premium
<br />due and any subsequent payment of the additional premium due shall not
<br />reform the policy from its inception date but shall only add the additional
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<br />October 1992
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