Harvard business reports (1930)

BOYLSTON THEATER 557 and shall make use of other property, if obtainable, if by so doing the amount of loss hereunder will be reduced, and in the event of the loss being so reduced such reduction shall be taken into account in arriving at the amount of the loss hereunder. It is a condition of this insurance that surplus machinery or duplicate parts thereof, equipment or supplies, and (if this policy covers liability for suspension of business due to damage to or destruction of stock) surplus or reserve stock, which may be owned, controlled or used by the insured, shall in the event of loss, be used in placing the property in condition for continuing or resuming business. It is a condition of this insurance if this policy covers liability for suspension of business due to damage to or destruction of building, machinery and equipment only, that this Company shall not be liable for any loss due to damage to or destruction of stock. THE CONDITIONS AND PROVISIONS PRINTED ON THE BACK OF THIS FORM ARE HEREBY REFERRED TO AND MADE A PART HEREOF. Agent. For other provisions see reverse side of this form. Note: — The description should clearly indicate the buildings, the use and occupancy of which it is intended to cover. Note : — If liability for suspension of business due to damage to or destruction of STOCK is to be included insert the words "and/or stock" in both spaces after the word "equipment" in the first paragraph. Note : — Usual clauses regarding alterations and repairs, hours of operation and permission for devices and hazards may be added as required or permitted by local rules. Conditions and Provisions referred to in and made a part of this form (No. 705). It is a condition of this insurance that in case the insured and this Company are unable to agree as to the time necessary to rebuild, repair or replace the described property, and/or the value of the subject of this insurance, and/or the amount of loss thereon the same shall be determined by appraisal in the manner provided by this policy, the provisions of which policy shall govern in all matters pertaining to this insurance except as herein otherwise provided. The liability hereunder shall not exceed the amount of insurance by this policy, nor a greater proportion of any loss than the insurance hereunder shall bear to all insurance, whether valid or not, and whether collectible or not, covering in any manner the loss insured against by this policy. In the event of the insurance hereunder being reduced by payment of loss, such reduction shall apply only to the amount of the policy, the daily limit of liability being unaffected thereby. Other insurance permitted. Lightning Clause: Except as provided in the Electrical Exemption Clause below, this policy shall cover use and occupancy loss caused by lightning (meaning thereby the commonly accepted use of the term lightning, and in no case to include loss or damage by cyclone, tornado or windstorm) not exceeding the sum insured, nor the interest of the insured in the property, subject to the terms and conditions of this form and the policy to which it is attached. Provided, however, if there shall be any other use and occupancy insurance on said property, this Company shall be liable only pro rata with such other insurance for any use and occupancy loss by lightning, whether such other insurance be against loss by lightning or not. Electrical Exemption Clause: It is a special condition of this policy that this company shall not be liable for any use and occupancy loss resulting from any electrical injury, disturbance or damage to dynamos, exciters, lamps, switches,, motors or other electrical appliances or devices whether from artificial or natural causes, unless fire ensues, arid then only for such use and occupancy loss as may be caused by such ensuing fire; this limitation to be operative notwithstanding any provision to the contrary in the lightning clause (if any) attached. Definitions : The word "day" however modified, wherever used in this contract, shall be held to cover a period of twenty-four hours.