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MSIG 122 01 13 <br />(3) An "executive officer" or insurance manager (if you are an organization other that a <br />partnership, joint venture or limited liability company); or <br />(4) A manager (if you are a limited liability company). <br />7. UNINTENTIONAL OMISSIONS IN DISCLOSURE <br />SECTION IV - COMMERCIAL GENERAL LIABILITY CONDITIONS, 6. Representation is revised by <br />the addition of Item d.: <br />d. Your failure to disclose all hazards prior to "occurrences" existing as of the inception date of this <br />policy shall not prejudice the coverage afforded by this policy, provided such failure to disclose <br />all hazards or prior "occurrences" is not intentional. <br />This provision does not affect our right to collect additional premium or to exercise our right of <br />cancellation or non - renewal. <br />8. WAIVER OF SUBROGATION BY CONTRACTOR AGREEMENT <br />SECTION IV - COMMERCIAL GENERAL LIABILITY CONDITIONS, 8. Transfer Of Rights Of <br />Recovery Against Others To Us <br />We waive any right of recovery we may have against any person or organization because of payments <br />we make for injury or damage arising out of: <br />A. Premises owned, occupied by, or rented or loaned to you; <br />B. "Your work" or "your products "; <br />C. Ongoing operations performed by you or on your behalf, when you and such person or <br />organization have agreed in writing in a contract or agreement to waive such right of recovery, <br />provided: <br />(1) Such written contract or agreement was: <br />a. Made prior to the covered injury or damage; and <br />b. In effect at the time of the covered injury or damage; and <br />(2) The injury or damage arises out of the operations contemplated by such written contract or <br />agreement; and <br />(3) This waiver applies only to such person or organization designated in such written contract <br />or agreement. <br />9. NEWLY FORMED OR ACQUIRED ORGANIZATIONS <br />SECTION II - WHO IS AN INSURED, 3. is deleted and replaced with the following: <br />3. The Named Insured shown in the Declarations is amended to include any organization you newly form <br />or acquire, other than: <br />a. A partnership, joint venture, or limited liability company; or <br />b. An organization excluded either by the provisions of this Coverage Part, or by endorsement, and <br />over which you maintain ownership or majority interest of more that 50 %, subject to the following <br />additional provisions: <br />i. This insurance does not apply to any newly formed or acquired organization that is an <br />"insured" under any other General Liability policy or would be an "insured" under such a <br />policy but for its termination or the exhaustion of its Limit of Insurance. <br />ii. Coverage under this provision does not apply to injury, damage, expense, or "loss" that <br />occurred before you formed or acquired the organization. <br />iii. Coverage under this provision is afforded only until the next anniversary date of this <br />policy's effective date after you acquire or form the organization, or the end of the policy <br />period, whichever is earlier. <br />This provision does not include any newly formed or acquired organization 180 days after its <br />formation or acquisition, unless you have given us notice of the formation or acquisition. <br />10. LEGAL LIABILITY FOR DAMAGE TO PREMISES RENTED TO YOU (Specified Perils) <br />SECTION III - LIMITS OF INSURANCE, 6. is deleted and replaced with the following: <br />6. Subject to 5. above, the greater of: <br />a. $300,000, or <br />b. The damage to Premises Rented to You Limit shown in the Declarations <br />Includes copyrighted material of ISO Properties, Inc., with its permission Page 7 of 8 <br />