TAW CONTRACTORS EQUIPMENT FLOATER (1977 A.R.)

ATTACHING to and forming part of Policy No.

In the name of:

Located at:

Insured's Declaration:

The proposal form dated and attaching hereto and made a part hereof is hereby agreed to be the basis of the Policy and to be incorporated herein, and the Insured hereby warrants to be true each and every statement and particular contained therein.

Insuring Agreement

THIS POLICY INSURES EXCEPT AS HEREINAFTER PROVIDED AGAINST ALL RISKS OF PHYSICAL LOSS OR DAMAGE TO THE INSURED'S PROPERTY AS DESCRIBED IN THE ATTACHED SCHEDULE WHILE LOCATED WITHIN THE LIMITS OF:

This Policy does not insure:

(a)	Automobiles or similar conveyances, boats, barges, marine or floating equipment, tents, tarpaulins, plans, blueprints, designs, specifications, property used in connection with logging and/or mining operations or property while located underground or which has become a permanent part of any structure;

(b)	Tyres and/or tubes unless the loss or damage is coincident with other loss or damage insured by this Policy;

(c)	Against loss or damage directly or indirectly occasioned by, happening through or in consequence of war, invasion, acts of foreign enemies, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection, seizure or destruction under quarantine or customs regulations, military or usurped power, martial law or confiscation or nationalisation or requisition or destruction of or damage to property by or under the order of any government or public or local authority, or risks of contraband or illegal transportation and/or trade;

(d)	Against loss or damage occasioned by the weight of a load exceeding the registered lifting capacity of any machine; or resulting from the violation of any commission, state, town or other similar regulation, or from any attempt thereat or the consequences thereof;

(e)	Against loss or damage caused by the neglect of the Insured to use all reasonable means to save and preserve the property at and after any disaster insured against, or when the property is endangered by fire in neighbouring premises;

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(f)	Against loss or damage caused by latent defect, rust, corrosion, freezing, wear and tear or gradual deterioration, or incidental to actual operation of the property insured;

(g)	Against loss or damage caused by short circuit, blowout or other electrical disturbances of any kind (exclusive of lightning) within any electrically equipped unit unless fire ensues and then for loss or damage by fire only;

(h)	Against	(a)	loss of or damage to any working machine caused by its own mechanical breakdown.

(b)	loss of or damage to any working part caused by its own mechanical breakdown.

(i)	Against loss, damage or expense caused by or arising out of delay;

(j)	Against loss or damage caused by dishonesty or infidelity of the Insured's employees or persons to whom the insured property may be loaned, rented or entrusted;

(k)	Against loss or damage to property hereby insured which may be sustained whilst the same is under any process and directly resulting therefrom;

(l)	Inventory shortage or unexplained disappearance;

(m)	Loss or damage except by fire while the insured property is being waterborne unless otherwise endorsed hereon;

Special Conditions

1.	Each claim for loss or damage shall be adjusted separately and from the amount of each adjusted claim the sum of $ shall be deducted.

2.	Unless otherwise provided herein the Underwriters shall not be liable beyond the actual cash value of the insured property at the time any loss or damage occurs and the loss or damage shall be ascertained with proper deduction for depreciation, but Underwriters shall not be liable for more than the amount insured hereunder as set forth in the schedule.

3.	In case of loss of or damage to the property insured hereunder, Underwriters shall not be liable for more than the cost of repairing or replacing the same with material of like kind and quality, nor for a greater proportion of any loss damage or expense to the property described herein than the amount insured under the Policy bears to 100% of the actual aggregate value of said property at all places where coverage is afforded hereunder at the time such loss shall occur.

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Conditions

This entire Policy shall be void if the Insured has concealed or misrepresented any material fact or circumstances concerning this insurance or the subject thereof, or in case of any fraud or false swearing by the Insured touching any matter relating to this insurance or the subject thereof, whether before or after a loss.

The Insured shall immediately report to the Underwriters or their representatives every loss or damage which may become a claim under this Policy and shall also file with the Underwriters or their representatives within ninety days from date of loss, a detailed sworn proof of loss. Failure by the Insured either to report the said loss or damage or to file such written proofs of loss as herein provided shall invalidate any claim under this Policy.

The Insured shall submit, and so far as is within his or their power shall cause all other persons interested in the property and members of the household and employees to submit, to examination under oath by any persons named by the Underwriters, relative to any and all matters in connection with a claim, and shall produce for examination all books of accounts, bills, invoices and other vouchers or certified copies thereof, if originals be lost, at such reasonable time any place as may be designated by the Underwriters or their representatives and shall permit extracts and copies thereof to be made.

All adjusted claims shall be paid or made good to the Insured within sixty days after presentation to Underwriters and acceptance of satisfactory proof of interest and loss by Underwriters.

No loss shall be paid hereunder if the Insured has collected the same from others.

It is warranted by the Insured that this insurance shall in no wise inure directly or indirectly to the benefit of any carrier or other bailee.

The Underwriters may require from the Insured an assignment of all right of recovery against any party for loss or damage to the extent that payment therefore is made by the Underwriters.

Every claim paid hereunder reduces the amount insured by the sum so paid unless the same be reinstated by payment of additional premium hereon.

In case of loss or damage to any part of a machine, or any other article consisting, when complete for sale or use, of several parts, Underwriters shall only be liable for the insured value of the part lost or damaged.

In case of loss or damage, it shall be lawful and necessary for the Insured, his or their factors, servants and assigns, to sue, labour, and travel for in and about the defence, safeguard and recovery of the property insured hereunder, or any part thereof without prejudice to this insurance,; nor shall the acts of the Insured or the Underwriters, in recovering, saving and preserving the property insured in case of loss or damage by considered a waiver or an acceptance of abandonment, to the charge whereof the Underwriters will contribute according to the rate an quantity of the sum herein insured.

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It is a condition of this Policy that no suit, action or proceeding for the recovery of any claim under this Policy shall be maintainable in any court of law or equity unless the same be commenced within twelve months following the calendar date of the happening of the physical loss or damage out of which the said claim arose. Provided, however, that if by the laws of the State within which this Policy is issued such limitation is invalid, then any such claim shall be void, unless such action or proceeding be commenced within the shortest limit of time permitted, by the laws of such State, to be fixed herein.

In case the Insured and the Underwriters shall fail to agree as to the amount of loss or damage, the same shall be ascertained by two competent and disinterested appraisers, the Insured and the Underwriters each selecting one, and the two so chosen shall first select a competent and disinterested umpire; the appraisers together shall then estimate and appraise the loss, stating separately the sound values and damage, and failing to agree, shall submit their differences to the umpire and the award in writing of any two shall determine the amount of the loss; the parties thereto shall pay the appraisers respectively selected by them, and shall bear equally the expense of the appraisal and umpire.

The Insured, upon knowledge of any occurrence likely to give rise to a claim hereunder, shall give immediate advice thereof to the Underwriters through

For the purpose of this Policy it is hereby agreed that all direct loss caused by any person or persons taking part in riots, strikes, lockouts, labour disturbances, civil commotions, vandalism or malicious mischief and/or explosion during each period of forty-eight hours shall be considered as having been caused by one event but ensuing fire (if any) regardless of the time during which it may continue shall be regarded as part of the same event as the occurrence which gave rise to it.

For the purposes of this Policy it is hereby agreed that all direct losses caused by windstorm, cyclone, tornado and/or earthquake occurring within a period of forty-eight consecutive hours shall be considered as having been caused by one event, whether such windstorm, cyclone, tornado and/or earthquake is continuous or sporadic in its sweep or scope but ensuing fire (if any) regardless of the time during which it may continue shall be regarded as part of the same event as the occurrence which gave rise to it.

This policy is subject to ten days notice of cancellation in accordance with the terms of the Cancellation Clause N.M.A. 1331 as attached.

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SCHEDULE

Item	Trade	Type of	Amount of

No.	Year	Name	Unit	Serial No.	Insurance

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Linda

1998-10-15

Harman Wicks & Swayne