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New NC Legal109344 (05-16) NC Ce

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NORTH CAROLINA CERTIFICATE OF STORAGE INSURANCE New Hampshire Insurance Company 175 Water Street New York NY 10038 Master Policy 10570468 Certificate _______________________________ This Certificate of Storage Insurance hereinafter Certificate provides evidence of coverage under Master Policy 10570468 hereinafter Policy Various provisions in this Certificate restrict coverage Read the entire Certificate carefully to determine rights duties and what is and is not covered In this Certificate the person who is named as a tenant in the Rental Agreement and has elected insurance coverage under this Policy will be referred to as you and your The words we us and our refer to the Company providing this insurance Other words and phrases that appear in bold type have special meaning Refer to the DEFINITIONS section at the end of this Certificate INSURING AGREEMENT We will provide insurance under this Policy in consideration of your payment of the Premium corresponding to the Limit of Coverage elected by you as shown on the Election Agreement The most we will pay is the Limit of Coverage as indicated on the Election Agreement We will not pay more than the Limit of Coverage per occurrence for all insured property while in storage within the enclosed storage space described in the Rental Agreement For the purpose of identification and reference the certificate number assigned on your Election Agreement is deemed to be the Certificate Number assigned to this Certificate CERTIFICATE PERIOD The insurance coverage will become effective under each Certificate on the Coverage Effective Date indicated on the Election Agreement at 12 01am standard time at the storage facility address shown in the Rental Agreement The insurance attaches from such time until the termination of the Rental Agreement or when cancelled or non renewed as provided herein However coverage will not become effective while the storage facility is under a wildfire tornado tropical storm or hurricane watch or warning until 12 01am the day after the watch or warning is lifted PROPERTY INSURED The personal property insured under this Certificate consists of your personal property while in storage within the enclosed storage space described in the Rental Agreement We will also cover the personal property of others for which you may be liable or have assumed liability prior to a loss while in storage within the enclosed storage space described in the Rental Agreement However we will not cover the property of the Owner whether it is within or outside such enclosed storage space COVERED CAUSES OF LOSS We cover direct physical loss to insured property only while within the enclosed storage space described in the Rental Agreement and caused by the following 1 Fire 9 Falling Objects provided the exterior of the building containing the insured 2 Lightning property is first damaged by such falling objects 3 Windstorm or Hail 10 Weight of Ice Snow or Sleet 4 Explosion or Sonic Boom 11 Water Damage except as excluded under subparagraphs 2 b 2 c 2 d 2 e 5 Riot or Civil Commotion including a Acts of striking employees and 2 f and 2 p in EXCLUSIONS b Looting occurring at the time and place of a riot or civil commotion 12 Earth Movement including a Earthquake including any earth sinking rising 6 Aircraft or Vehicles meaning only physical contact of an aircraft a spacecraft or shifting related to such event b Landslide including any earth sinking a self propelled missile a vehicle or an object thrown by a vehicle with the rising or shifting related to such event or c Sinkhole Collapse meaning loss insured property or with the building or structure containing the insured or damage caused by the sudden sinking or collapse of land into underground property provided that the exterior of the building containing the insured empty spaces created by the action of water on limestone or dolomite This property is first damaged This cause of loss includes loss or damage by cause of loss does not include 1 The cost of filling sinkholes or 2 Sinking objects falling from aircraft or collapse of land into man made underground cavities 7 Smoke causing sudden and accidental loss or damage 13 Collapse of Buildings containing the insured property 8 Vandalism meaning willful and malicious damage to or destruction of the insured property ADDITIONAL COVERAGES We will also provide these additional coverages up to the amounts stated below These additional coverages do not increase the Limit of Coverage 1 Burglary We will pay up to the percentage of the Limit of Coverage you elected in your Election Agreement for loss by Burglary The term Burglary means the act of stealing insured property by forcible entry into the storage space described in the Rental Agreement and must be evidenced by visible signs of forced entry However this coverage only applies when such storage space is securely locked at the time of the forcible entry and does not apply to the lien enforcement procedures by the Owner A missing lock or the presence of a lock different than the lock placed by you on the storage space is not sufficient standing alone to establish forcible entry In the event of a Burglary claim you will bear the burden of proof to establish that a burglary has occurred In the event of a Burglary Claim you or the Owner must immediately report such Burglary to the appropriate law enforcement agency 2 Robbery We will pay up to the percentage of the Limit of Coverage you elected in your Election Agreement for loss by Robbery The term Robbery means the act of stealing insured property by violence or threat of violence against you or the Owner in order to gain unlawful access into the storage space described in the Rental Agreement In the event of a claim of a Robbery you or the Owner must immediately report the Robbery to the appropriate law enforcement agency 3 Debris Removal We will pay your reasonable expense to remove debris of insured property caused by or resulting from a covered cause of loss up to 25 of the Limit of Coverage 4 Transit We will pay up to 100 of the Limit of Coverage for loss by fire or by the collision or overturn of a motor vehicle or trailer upon which insured property is being transported while such property is in transit to or from the storage facility provided such transit is within 100 miles of the storage space described in the Rental Agreement 5 Extra Rental Expense We will pay up to 25 of the Limit of Coverage to cover the reasonable extra expense necessarily incurred by you for the rental of substitute storage when occupancy of the storage space described in the Rental Agreement is prevented as a result of direct physical loss or damage to the storage space as a result of a covered cause of loss 6 Vermin We will pay up to no more than the lesser of twenty five percent 25 of the Limit of Coverage or 1000 under this Certificate to cover loss or damage by Vermin to insured property while in the enclosed storage space For the purposes of this Additional Coverage Vermin means various small animals including but not limited to rodents and or insects that are destructive However we will not pay for any loss or damage caused by the Cimicidae family of insects bed bugs Additionally we will not pay for loss or damage to insured property under this Additional Coverage if any food food product or ingestible is stored in the storage space with the insured property EXCLUSIONS 1 Insured property does not include a Accounts bills currency deeds food stamps other evidences of debt contracts titles money notes securities or lottery tickets b Animals c Jewelry watches semi precious precious stones furs or garments trimmed with fur d Firearms and ammunition e Contraband explosives or property in the course of illegal transportation or trade f Valuable papers and records including those which exist as electronic data g Photographs h Property in the storage facility against which the Owner has begun lien enforcement procedures i Property not placed within the enclosed storage space described in the Rental Agreement except as provided under Paragraph 4 Transit of ADDITIONAL COVERAGES 2 We will not pay for loss or damage caused directly or indirectly by any of the following Such loss or damage is excluded regardless of any other cause or event that contributes concurrently or in any sequence to the loss a Wear and tear gradual deterioration decay inherent vice latent defect or vermin except as provided under Paragraph 6 Vermin of ADDITIONAL COVERAGES b Presence growth proliferation spread or any activity of fungus including mold or mildew and any mycotoxins spores scents or by products produced or released by fungi wet or dry rot or bacteria 109344 05 16 c Atmospheric conditions and or changes in temperature such as freezing relative humidity or the presence of condensation or humidity moisture or vapor d Loss of use or loss of market e Flood surface water waves tides tidal waves overflow of any body of water or their spray all whether driven by wind or not f Water or other water borne materials under the surface of the ground that back up or overflow from a sewer pipe drain or sump including such water or water borne materials that exert pressure on or seep leak or flow through a building sidewalk driveway foundation walls floors doors windows or other openings or other structure g War including undeclared or civil war or warlike action by a military force including action in hindering or defending against an actual or expected attack by any government sovereign or other authority using military personnel or naval or other agents war including undeclared or civil war h Insurrection rebellion revolution usurped power or action taken by governmental authority in hindering or defending against any of these i Nuclear reaction or radiation or radioactive contamination however caused But if nuclear reaction or radiation or radioactive contamination results in fire we will pay for the loss or damage caused by that fire j Intentional loss meaning any loss arising out of any act that you commit or you conspire to commit with the intent to cause a loss k Seizure or destruction of insured property by order of governmental authority But we will pay for loss or damage caused by or resulting from acts of destruction ordered by governmental authority and taken at the time of a fire to prevent its spread if the fire would be covered under this Certificate l Smoke from cigarettes cigars pipes or other similar smoking products m Your neglect in using all reasonable means to save and preserve the insured property from further damage at and after the time of loss Page 1 of 2 Includes copyrighted material of Insurance Services Office Inc with its permission All rights reserved

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n Contaminants or hazardous materials o Mysterious disappearance of insured property p Mechanical breakdown short circuiting blowout or other electrical disturbance to the insured property VALUATION The value of the insured property will be determined at the time of the loss or damage and will be the least of the following amounts 1 The Actual Cash Value of the lost or damaged insured property 2 The cost of repairs to the damaged insured property 3 The cost of replacing the lost or damaged insured property with other property of like kind and quality PAIR SET OR PARTS 1 In case of loss to any part of a pair or set we may a repair or replace any part to restore the pair or set to its valuation before the loss or b pay the difference between the Actual Cash Value of the pair or set before and after the loss 2 In case of loss to any part of covered property consisting of several parts when complete we will pay only for the valuation of the lost or damaged part OTHER INSURANCE Except for losses caused by a named hurricane named tropical storm tornado wildfire or an earthquake if a loss covered by this Certificate is also covered by other insurance this insurance shall be primary over any other valid and collectible insurance available to you unless elected otherwise by you In the event of a loss as a result of a named hurricane or named tropical storm tornado wildfire or an earthquake this Certificate will pay only the proportion of the loss that the Limit of Coverage bears to the total amount of insurance covering the loss DUTIES IN THE EVENT OF LOSS OR DAMAGE You must do the following in the event of loss or damage to the insured property 1 Notify the police in the case of Burglary or Robbery or if a law has been broken 2 Give us or an authorized claim representative prompt notice within 30 days of the discovery of the loss or damage Provide us with photographic evidence of the damaged property and a complete inventory of the damaged or stolen property including quantities values and the amount of loss claimed 3 Give us a description of how when and where the loss or damage occurred including the names addresses and telephone numbers of any witnesses 4 Take all reasonable steps to protect the insured property from further damage 5 Cooperate with us in the investigation or settlement of the loss 6 File all notices of loss or damage to the insured property within 15 days of you vacating the storage space as described in the Rental Agreement or termination of your coverage 7 In the event of a Transit loss notify the police fire department or other appropriate law enforcement agency whenever another party is involved and as per applicable local or state legal requirements CONCEALMENT MISREPRESENTATION AND FRAUD This Certificate is void in any case of fraud by you as it relates to this Certificate at any time It is also void if you at any time intentionally conceal or misrepresent a material fact concerning 1 This Certificate 2 The insured property or 3 Your interest in the insured property EXAMINATION UNDER OATH Before recovering for any loss if requested you will 1 Permit us to inspect the damaged property before it is disposed of or repaired 2 Send us a sworn statement of loss containing the information we request to settle a claim within 60 days of our request 3 Agree to examinations under oath at our request 4 Produce others for examination under oath at our request 5 Provide us with all pertinent records needed to prove the loss and 6 Cooperate with us in the investigation or settlement of the loss APPRAISAL If you and we disagree on the value of the insured property or the amount of the loss either may make written demand for an appraisal of the loss In this event each party will select a competent and impartial appraiser The two appraisers will select an umpire If they cannot agree either may request that selection be made by a judge of a court having jurisdiction The appraisers will state separately the value of the property and amount of the loss If they fail to agree they will submit their differences to the umpire A decision by any two will be binding Each party will 1 Pay its chosen appraiser and 2 Bear the other expenses of the appraisal and umpire equally If there is an appraisal we will still retain our right to deny the claim LOSS PAYMENT OTHER RECOVERIES We will pay for covered loss or damage within 30 days after we have reached agreement with you on the amount of the loss or an appraisal award has been made whichever is earlier We will not be liable for any part of a loss which has been paid by others LEGAL ACTION AGAINST US No one may bring a legal action against us unless there has been full compliance with all the terms of this insurance and such action is brought within 3 years after you first have knowledge of the direct loss or damage TRANSFER OF RIGHTS OF RECOVERY AGAINST OTHERS TO US If any person or organization to or for whom we make payment under this insurance has rights to recover damages from another those rights are transferred to us to the extent of our payment That person or organization must do everything necessary to secure our rights and must do nothing after the loss to impair them CHANGES This Certificate contains agreements between you and us concerning the insurance afforded under the Policy This Policy s terms can be amended or waived only by endorsement issued by us and made a part of this Policy AUTOMATIC TERMINATION OF CERTIFICATE The insurance evidenced by this Certificate will automatically terminate without notice to you on the date the Rental Agreement between you and the Owner is terminated CANCELLATION OF CERTIFICATE 1 You may cancel the Certificate by mailing or delivering to us advance written notice of cancellation 2 We may cancel this Certificate by mailing or delivering to you written notice of cancellation as follows a If this Certificate has been in effect for less than 60 days we may cancel this Certificate by mailing or delivering to you written notice of cancellation at least i 15 days before the effective date of cancellation if we cancel for nonpayment of Premium or ii 30 days before the effective date of cancellation if we cancel for any other reason b If this Certificate has been in effect for 60 days or more we may cancel this Certificate prior to the expiration date of the Certificate period only for one or more of the following reasons A Nonpayment of Premium B An act or omission by you or your representative that constitutes material misrepresentation or nondisclosure of a material fact in obtaining this Certificate continuing this Certificate or presenting a claim under this Certificate C Increased hazard or material change in the risk assumed that could not have been reasonably contemplated by the parties at the time of assumption of the risk D Substantial breach of contractual duties conditions or warranties that materially affects the insurability of the risk E A fraudulent act against us by you or your representative that materially affects the insurability of the risk F Willful failure by you or your representative to institute reasonable loss control measures that materially affect the insurability of the risk after written notice by us G Loss of facultative reinsurance or loss of or substantial changes in applicable reinsurance as provided in G S 58 41 30 H Your conviction of a crime arising out of acts that materially affect the insurability of the risk I A determination by the Commissioner of Insurance that the continuation of the Certificate would place us in violation of the laws of North Carolina or J You fail to meet the requirements contained in our corporate charter articles of incorporation or by laws when we are a company organized for the sole purpose of providing members of an organization with insurance coverage in North Carolina 3 We will mail or deliver our notice to you at the address shown in the Election Agreement at least a 15 days before the effective date of cancellation if we cancel for nonpayment of Premium or b 30 days before the effective date of cancellation if we cancel for any other reason 4 Cancellation for nonpayment of Premium will not become effective if you pay the Premium amount due before the effective date of cancellation 5 We may also cancel this Certificate for any reason not stated above provided we obtain your prior written consent 6 Notice of cancellation will state the effective date of cancellation The Certificate period will end on that date 7 The written notice of cancellation will a Be mailed or delivered to you and any designated loss payee at their addresses shown in the Election Agreement or if not indicated in the Election Agreement at their last known addresses and b State the reason or reasons for cancellation 8 If this Certificate is cancelled we will send you any Premium refund due If you cancel this Certificate Premium shall be fully earned for the monthly Certificate period to which the Premium applies The cancellation will be effective even if we have not made or offered a refund 9 If notice is mailed proof of mailing will be sufficient proof of notice CONFORMITY WITH STATE STATUTES If the terms of this Certificate are in conflict with the laws of the state wherein the Certificate is issued they are hereby amended to conform to such statutes DEFINITIONS 1 Owner means the owner landlord or operator of the self storage facility 2 Rental Agreement means the Lease Rental Agreement executed and in effect between you and the Owner 3 Limit of Coverage means the maximum amount payable for physical loss or damage to the insured property per occurrence as designated by you in the Election Agreement 4 Premium means the amount shown in the Election Agreement as designated by you as the monthly amount payable for the insurance 5 Election Agreement means the Insurance Election Agreement completed by you in order to elect coverage under this Master Policy 6 Certificate of Storage Insurance means the certificate that provides evidence of coverage for an Insured under this Master Policy 7 Actual Cash Value means the amount calculated that it would cost to repair or replace insured property at the time of loss or damage with material of like kind and quality subject to a deduction for deterioration depreciation and obsolescence Actual Cash Value applies to valuation of insured property regardless of whether that property has sustained partial or total loss or damage The Actual Cash Value of the lost or damaged property may be significantly less than its replacement cost NONRENEWAL OF THE CERTIFICATE 1 If we decide not to renew this Certificate we will mail or deliver to you written notice of nonrenewal at least 45 days prior to the a Expiration of the Certificate if this Certificate has been written for one year or less or b Anniversary date of the Certificate if this Certificate has been written for more than one year or for an indefinite term 2 We need not mail or deliver the notice of nonrenewal if you have a Insured property covered under this Certificate under any other insurance policy or Certificate b Accepted replacement coverage or c Requested or agreed to nonrenewal of this Certificate 3 If notice is mailed proof of mailing will be sufficient proof of notice 4 The written notice of nonrenewal will a Be mailed or delivered to you and any designated mortgagee or loss payee at their addresses shown in the Election Agreement or if not indicated in the Election Agreement at their last known addresses and b State the reason or reasons for nonrenewal LIBERALIZATION If we adopt any revision that would broaden the coverage under this Certificate without additional Premium within 45 days prior to or during the Certificate Period the broadened coverage will immediately apply to this Certificate TIME PERIOD FOR PERFORMANCE OF CONTRACTUAL OBLIGATIONS Whenever a state of disaster is proclaimed for the state of North Carolina or for an area within this state in accordance with state law or whenever a major disaster is declared for North Carolina or an area within this state by the President of the United States under the Stafford Act or its successors the following provisions apply 1 If the insured property that has sustained loss or damage is located within the geographic area designated in the disaster declaration or proclamation the time period for your submission of a proof of loss as set forth in the Duties In The Event Of Loss or Damage Condition shall be extended bya time period not exceeding the earlier of a the expiration of the disaster declaration or proclamation and all renewals of the proclamation or b the expiration of the Insurance Commissioner s order declaring action for the specific disaster as determined by the Insurance Commissioner 2 Except as otherwise provided in Paragraph 1 the following applies if you or we reside in or are located in the geographic area designated in the disaster declaration or proclamation If this Certificate or an endorsement attached to this Certificate imposes a time limitation on you or us for a performance of a a premium or debt payment or b any other duty or any act including transmittal of information under the terms of this Certificate and such performance would be required during the time period prior to the expiration of the Insurance Commissioner s order declaring action for the specific disaster as determined by the Insurance Commissioner your performance and our performance is subject to a deferral period of 30 days The Commissioner of Insurance may extend such deferral period Producer Authorized Representative 109344 05 16 Page 2 of 2 Includes copyrighted material of Insurance Services Office Inc with its permission All rights reserved