Underwritten By: Scottsdale Insurance Company Home Office: One .

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Underwritten by: Scottsdale Insurance CompanyHome Office: One Nationwide Plaza Columbus, Ohio 43215Administrative Office: 8877 North Gainey Center Drive Scottsdale, Arizona 8532581-800-423-7675 A Stock CompanyIn Witness Whereof, the Company has caused this policy to be executed and attested.SecretaryPresidentThe information contained herein replaces any similar information contained elsewhere in the policy.UTS-COVPG (1-16)INSURED

COMMON POLICY DECLARATIONSPolicy NumberRenewal ofUnderwritten by: Scottsdale Insurance CompanyHome Office:One Nationwide PlazaColumbus, Ohio 43215Administrative Office:8877 North Gainey Center DriveScottsdale, Arizona 852581-800-423-7675 A STOCK COMPANYCPS2899470CPS3102754ITEM 1. Named Insured and Mailing AddressRed Mountain Ranch Of GunnisonP.O. Box 399Crested Butte, CO81224Agent Name and AddressJODIE FAULKNERHull & Company, LLC8400 E. Prentice Ave, Suite 535Agent No.:Greenwood Village CO 80111ITEM 2. Policy PeriodFrom:09/06/2018To:Program No.:05014Term:09/06/2019AT365 DAYS12:01 A.M., Standard Time at the mailing address shown in ITEM 1.Business Description:Club-civicIn return for the payment of the premium, and subject to all the terms of this policy, we agree with you to provide theinsurance as stated in this policy. This policy consists of the following coverage parts for which a premium is indicated.Where no premium is shown, there is no coverage. This premium may be subject to adjustment.Coverage Part(s)Premium SummaryCommercial General Liability Coverage Part 750Commercial Property Coverage Part NOT COVEREDCommercial Crime And Fidelity Coverage Part NOT COVEREDCommercial Inland Marine Coverage Part NOT COVEREDCommercial Auto Coverage Part NOT COVEREDProfessional Liability Coverage Part NOT COVERED Total Policy Premium: 750.00Policy Fee 175.00CO SL Tax(3%) 27.75 THIS CONTRACT IS DELIVERED AS SURPLUS LINE INSURANCE UNDER THE"NONADMITTED INSURANCE ACT". THE INSURER ISSUING THIS CONTRACTIS NOT ADMITTED IN COLORADO BUT IS AN ELIGIBLE NONADMITTED INSURER.THERE IS NO PROTECTION UNDER THE PROVISIONS OF THE "COLORADOINSURANCE GUARANTY ASSOCIATION ACT". Policy Total: 952.75Form(s) and Endorsement(s) made a part of this policy at time of issue:SEE SCHEDULE OF FORMS AND ENDORSEMENTS10/17/2018 LWMOUNTMOUNTAIN WEST INSURANCE & FINANCIAL SERVICES LLC100 E. VICTORY WAYCraig, CO81625THIS COMMON POLICY DECLARATION AND THE SUPPLEMENTAL DECLARATION(S), TOGETHER WITHTHE COMMON POLICY CONDITIONS, COVERAGE PART(S), COVERAGE FORM(S) AND FORM(S)AND ENDORSEMENT(S), IF ANY, COMPLETE THE ABOVE NUMBERED POLICY.OPS-D-1 (1-17)INSURED

SCHEDULE OF FORMS AND ENDORSEMENTSPolicy No.CPS3102754Effective Date:09/06/201812:01 A.M., Standard TimeNamed InsuredRed Mountain Ranch Of GunnisonUTS-COVPG1-16OPS-D-11-17UTS-SP-212-95Agent No.05014Cover PageCommon Policy DeclarationsSchedule Of Forms and EndorsementsCOMMON FORMSUTS-SP-38-96IL 00 1711-98UTS-9g5-96UTS-119g6-14Locations ScheduleCommon Policy ConditionsService Of Suit ClauseMinimum Earned Cancellation PremiumGENERAL LIABILITY FORMSCLS-SD-1L8-01CLS-SP-1L10-93CG 00 014-13CG 20 0211-85CG 21 0111-85CG 21 065-14CG 21 4712-07CG 21 6712-04CG 21 731-15CG 24 1612-07CG 24 S-289s11-07GLS-341s8-12GLS-455s3-18GLS-457s10-14IL 00 -09UTS-428g11-12GL Supplemental DecGL Ext Supplemental DecGeneral Liab CoverageAl-Club MembersExcl-Athletic-Sports ParticipantsExcl-Access Of Confidential Or Personal InfoEmployment-Related Practices ExclusionFungi Or Bacteria ExclExclusion-Certified Acts Of TerrorismCanoes Or RowboatsAmend Of Insured Contract DefinitionContractors Special ConditionsSexual-Physical Abuse Liab CovSexual-Physical Abuse ExclMinimum & Advance Prem EndtAmendment Of ConditionsBI/PD/Personal Advertising Inj Liab Ded EndtTotal Liquor Liability ExclusionAmendment To Other Insurance ConditionKnown Injury/Dmg Excl-Personal/Advertise InjuryHydraulic Fracturing ExclMarijuana/Cannabis Liability ExclusionAircraft ExclusionNuclear Energy ExclusionPunitive/Exemplary Damage ExclusionAsbestos ExclusionLead Contamination ExclusionAmend Of Nonpayment Cancel ConditionPremium AuditPOLICYHOLDER NOTICESNOTX0178CWUTS-SP-2 (12-95)3-16Claim Reporting InformationINSUREDutssp2j.fap

SCHEDULE OF LOCATIONSCPS3102754Policy No.Effective Date09/06/201812:01 A.M. Standard TimeNamed InsuredRed Mountain Ranch Of GunnisonAgent No.Prem.Bldg.Designated PremisesNo.No.(Address, City, State, Zip Code)1UTS-SP-3 (8-96)119250 HWY 135,Crested Butte, CO 81224INSURED05014OccupancyClub-civic

IL 00 17 11 98COMMON POLICY CONDITIONSAll Coverage Parts included in this policy are subject to the following conditions.A. Cancellation1.2.3.The first Named Insured shown in the Declarations may cancel this policy by mailing or delivering to us advance written notice of cancellation.We may cancel this policy by mailing or delivering to the first Named Insured written notice ofcancellation at least:a.10 days before the effective date of cancellation if we cancel for nonpayment of premium; orb.30 days before the effective date of cancellation if we cancel for any other reason.We will mail or deliver our notice to the firstNamed Insured's last mailing address known tous.4.Notice of cancellation will state the effective dateof cancellation. The policy period will end onthat date.5.If this policy is cancelled, we will send the firstNamed Insured any premium refund due. If wecancel, the refund will be pro rata. If the firstNamed Insured cancels, the refund may be lessthan pro rata. The cancellation will be effectiveeven if we have not made or offered a refund.6.If notice is mailed, proof of mailing will be sufficient proof of notice.This policy contains all the agreements between youand us concerning the insurance afforded. The firstNamed Insured shown in the Declarations is authorized to make changes in the terms of this policywith our consent. This policy's terms can beamended or waived only by endorsement issued byus and made a part of this policy.C. Examination Of Your Books And RecordsWe may examine and audit your books and recordsas they relate to this policy at any time during thepolicy period and up to three years afterward.D. Inspections And SurveysWe have the right to:a.Make inspections and surveys at any time;IL 00 17 11 98Give you reports on the conditions we find;andc.Recommend changes.We are not obligated to make any inspections,surveys, reports or recommendations and anysuch actions we do undertake relate only to insurability and the premiums to be charged. Wedo not make safety inspections. We do not undertake to perform the duty of any person ororganization to provide for the health or safety ofworkers or the public. And we do not warrantthat conditions:a.Are safe or healthful; orb.Comply with laws, regulations, codes orstandards.3.Paragraphs 1. and 2. of this condition apply notonly to us, but also to any rating, advisory, rateservice or similar organization which makesinsurance inspections, surveys, reports or recommendations.4.Paragraph 2. of this condition does not apply toany inspections, surveys, reports or recommendations we may make relative to certification, under state or municipal statutes, ordinances or regulations, of boilers, pressurevessels or elevators.E. PremiumsThe first Named Insured shown in the Declarations:B. Changes1.2.b.1.Is responsible for the payment of all premiums;and2.Will be the payee for any return premiums wepay.F. Transfer Of Your Rights And Duties UnderThis PolicyYour rights and duties under this policy may not betransferred without our written consent except in thecase of death of an individual named insured.If you die, your rights and duties will be transferredto your legal representative but only while actingwithin the scope of duties as your legal representative. Until your legal representative is appointed, anyone having proper temporary custodyof your property will have your rights and duties butonly with respect to that property.Copyright, Insurance Services Office, Inc., 1998INSUREDPage 1 of 1

ENDORSEMENTNO.ATTACHED TO ANDFORMING A PART OFPOLICY NUMBERENDORSEMENT EFFECTIVE DATECPS310275409/06/2018NAMED INSURED(12:01 A.M. STANDARD TIME)AGENT NO.Red Mountain Ranch Of Gunnison05014THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.SERVICE OF SUIT CLAUSEIt is agreed that in the event of the failure of the Company to pay any amount claimed to be due under thispolicy, the Company at the request of the Insured (or reinsured), will submit to the jurisdiction of any courtof competent jurisdiction within the United States of America and will comply with all requirements necessary to give the Court jurisdiction. All matters which arise will be determined in accordance with the lawand practice of the Court. In a suit instituted against any one of them under this contract, the Companyagrees to abide by the final decision of the Court or of any Appellate Court in the event of an appeal.Pursuant to any statute of any state, territory or district of the United States of America which makes aprovision, the Company will designate the Superintendent, Commissioner or Director of Insurance orother officer specified for that purpose in the statute, or his successor or successors in office, as their trueand lawful attorney upon whom may be served any lawful process in any action, suit, or proceeding instituted by or on behalf of the Insured (or reinsured) or any beneficiary arising out of this contract ofinsurance (or reinsurance).The officer named below is authorized and directed to accept service of process on behalf of the Company:COMMISSIONER OFINSURANCE1560 BROADWAY, SUITE 850DENVER, CO 80202Having accepted service of process on behalf of the Company, the officer is authorized to mail the process or a true copy to:CORPORATION SERVICE COMPANY1560 BROADWAY, SUITE 2090DENVER, CO80202/AUTHORIZED REPRESENTATIVEUTS-9g (5-96)DATEuts9gc.fapINSURED

ENDORSEMENTNO.ATTACHED TO ANDFORMING A PART OFPOLICY NUMBERCPS3102754ENDORSEMENT EFFECTIVE DATENAMED INSURED(12:01 A.M. STANDARD TIME)09/06/2018AGENT NO.Red Mountain Ranch Of Gunnison05014THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.MINIMUM EARNED CANCELLATION PREMIUMThe following provision is added to the Cancellation Condition:25%If You request cancellation of this policy, We will retain not less thanof the original premium./AUTHORIZED REPRESENTATIVEUTS-119g (6-14)INSUREDDATEuts119g0614b.fap

COMMERCIAL GENERAL LIABILITY COVERAGE PARTSUPPLEMENTAL DECLARATIONSPolicy No.Effective DateCPS310275409/06/201812:01 A.M., Standard TimeNamed InsuredAgent No.Red Mountain Ranch Of Gunnison05014Item 1. Limits of InsuranceLimit of LiabilityCoverageProducts/CompletedAggregate Limits of Liability2,000,000 Operations AggregateGeneral Aggregate (other than2,000,000 Products/Completed Operations)any one occurrence subjectCoverage A - Bodily Injury andto the Products/CompletedProperty Damage LiabilityOperations and General1,000,000 Aggregate Limits of Liabilityany one premises subject to theCoverage A occurrence andthe General Aggregate Limits100,000 of LiabilityDamage to Premises Rented to You Limitany one person or organizationCoverage B - Personal andsubject to the General AggregateAdvertising Injury Liability1,000,000 Limits of Liabilityany one person subject to theCoverage C - Medical PaymentsCoverage A occurrence and5,000 the General Aggregate LimitsItem 2. Description of BusinessForm of Business:IndividualXPartnershipJoint VentureTrustLimited Liability CompanyOrganization including a corporation (other than Partnership, Joint Venture or Limited Liability Company)Location of All Premises You Own, Rent or Occupy:See Schedule of LocationsItem 3. Forms and EndorsementsForm(s) and Endorsement(s) made a part of this policy at time of issue:See Schedule of Forms and EndorsementsItem 4. PremiumsCoverage Part Premium: Other Premium: Total Premium: 750750THESE DECLARATIONS ARE PART OF THE POLICY DECLARATIONS CONTAINING THE NAME OF THE INSURED ANDTHE POLICY PERIOD.CLS-SD-1L (8-01)INSUREDclssd1lg.fap

COMMERCIAL GENERAL LIABILITY COVERAGE PARTEXTENSION OF SUPPLEMENTAL DECLARATIONSPolicy No.CPS310275409/06/2018Effective Date:12:01 A.M., Standard TimeNamed InsuredPrem. No.Red Mountain Ranch Of GunnisonBldg. No.11Class CodeExposure4167005014Agent No.Basis67UnitsClass Description:Premises/OperationsCLUBS - CIVIC, SERVICE OR SOCIAL - NO BUILDINGS ORPREMISES OWNED OR LEASED EXCEPT FOR OFFICEPURPOSES - NOT-FOR-PROFIT ONLY (PRODUCTS-COMPLETEDRatePremium8.505750 MPOPERATIONS ARE SUBJECT TO THE GENERAL AGGREGATEProducts/Comp OperationsLIMIT)RatePremiumIncludedPrem. No.Bldg. No.11Class CodeExposure48727IncludedBasis1OtherClass Description:Premises/OperationsSTREETS, ROADS, HIGHWAYS OR BRIDGES - EXISTENCERatePremiumAND MAINTENANCE HAZARD ONLY (PRODUCTS-COMPLETEDOPERATIONS ARE SUBJECT TO THE GENERAL AGGREGATE85IncludedLIMIT)Products/Comp OperationsRatePremiumIncludedPrem. No.Bldg. No.11Class CodeExposure99999IncludedBasisOtherClass Description:Premises/OperationsGLS-44s Sexual and Physical AbuseRatePremium(25,000 ea. claim/50,000 aggregate)IncludedIncludedProducts/Comp OperationsRatePremiumIncludedPrem. No.Bldg. No.Class CodeExposureIncludedBasisClass /Comp OperationsRateCLS-SP-1L (10-93)INSUREDPremiumclssp1lf.fap

COMMERCIAL GENERAL LIABILITYCG 00 01 04 13COMMERCIAL GENERAL LIABILITY COVERAGE FORMVarious provisions in this policy restrict coverage. Readthe entire policy carefully to determine rights, dutiesand what is and is not covered.(2) The "bodily injury" or "property damage"occurs during the policy period; and(3) Prior to the policy period, no insured listedunder Paragraph 1. of Section II - Who IsAn Insured and no "employee" authorizedby you to give or receive notice of an "occurrence" or claim, knew that the "bodilyinjury" or "property damage" had occurred, in whole or in part. If such a listedinsured or authorized "employee" knew,prior to the policy period, that the "bodilyinjury" or "property damage" occurred,then any continuation, change or resumption of such "bodily injury" or "propertydamage" during or after the policy periodwill be deemed to have been known priorto the policy period.Throughout this policy the words "you" and "your" referto the Named Insured shown in the Declarations, andany other person or organization qualifying as aNamed Insured under this policy. The words "we","us" and "our" refer to the company providing thisinsurance.The word "insured" means any person or organizationqualifying as such under Section II - Who Is An Insured.Other words and phrases that appear in quotation marks have special meaning. Refer to Section V Definitions.SECTION I - COVERAGESCOVERAGE A - BODILY INJURY AND PROPERTYDAMAGE LIABILITY1.c."Bodily injury" or "property damage" whichoccurs during the policy period and was not,prior to the policy period, known to haveoccurred by any insured listed under Paragraph 1. of Section II - Who Is An Insured orany "employee" authorized by you to give orreceive notice of an "occurrence" or claim, includes any continuation, change or resumption of that "bodily injury" or "property damage"after the end of the policy period.d."Bodily injury" or "property damage" will bedeemed to have been known to have occurredat the earliest time when any insured listedunder Paragraph 1. of Section II - Who Is AnInsured or any "employee" authorized by youto give or receive notice of an "occurrence" orclaim:Insuring Agreementa.We will pay those sums that the insured becomes legally obligated to pay as damagesbecause of "bodily injury" or "property damage" to which this insurance applies. We willhave the right and duty to defend the insuredagainst any "suit" seeking those damages.However, we will have no duty to defend the insured against any "suit" seeking damages for"bodily injury" or "property damage" to whichthis insurance does not apply. We may, at ourdiscretion, investigate any "occurrence" andsettle any claim or "suit" that may result. But:(1) The amount we will pay for damages islimited as described in Section III - LimitsOf Insurance; and(1) Reports all, or any part, of the "bodily injury" or "property damage" to us or anyother insurer;(2) Our right and duty to defend ends whenwe have used up the applicable limit of insurance in the payment of judgments orsettlements under Coverages A or B ormedical expenses under Coverage C.(2) Receives a written or verbal demand orclaim for damages because of the "bodilyinjury" or "property damage"; orNo other obligation or liability to pay sums orperform acts or services is covered unless explicitly provided for under Supplementary Payments - Coverages A and B.b.This insurance applies to "bodily injury" and"property damage" only if:(1) The "bodily injury" or "property damage" iscaused by an "occurrence" that takesplace in the "coverage territory";CG 00 01 04 13(3) Becomes aware by any other means that"bodily injury" or "property damage" hasoccurred or has begun to occur.e.Damages because of "bodily injury" includedamages claimed by any person or organization for care, loss of services or death resultingat any time from the "bodily injury".Copyright, Insurance Services Office, Inc., 2012INSUREDPage 1 of 16

2.ExclusionsThis exclusion applies even if the claimsagainst any insured allege negligence or otherwrongdoing in:This insurance does not apply to:a.Expected Or Intended Injury(a) The supervision, hiring, employment,training or monitoring of others by thatinsured; or"Bodily injury" or "property damage" expectedor intended from the standpoint of the insured.This exclusion does not apply to "bodily injury"resulting from the use of reasonable force toprotect persons or property.b.(b) Providing or failing to provide transportation with respect to any personthat may be under the influence ofalcohol;Contractual Liability"Bodily injury" or "property damage" for whichthe insured is obligated to pay damages byreason of the assumption of liability in a contract or agreement. This exclusion does notapply to liability for damages:if the "occurrence" which caused the "bodily injury" or "property damage", involved that whichis described in Paragraph (1), (2) or (3) above.However, this exclusion applies only if you arein the business of manufacturing, distributing,selling, serving or furnishing alcoholic beverages. For the purposes of this exclusion, permitting a person to bring alcoholic beverageson your premises, for consumption on yourpremises, whether or not a fee is charged or alicense is required for such activity, is not by itself considered the business of selling, servingor furnishing alcoholic beverages.(1) That the insured would have in the absence of the contract or agreement; or(2) Assumed in a contract or agreement thatis an "insured contract", provided the"bodily injury" or "property damage" occurs subsequent to the execution of thecontract or agreement. Solely for the purposes of liability assumed in an "insuredcontract", reasonable attorneys' fees andnecessary litigation expenses incurred byor for a party other than an insured aredeemed to be damages because of "bodilyinjury" or "property damage", provided:(a) Liability to such party for, or for thecost of, that party's defense has alsobeen assumed in the same "insuredcontract"; and(b) Such attorneys' fees and litigation expenses are for defense of that partyagainst a civil or alternative disputeresolution proceeding in which damages to which this insurance appliesare alleged.c.Liquor Liabilityd.Workers' Compensation And Similar LawsAny obligation of the insured under a workers'compensation, disability benefits or unemployment compensation law or any similar law.e.Employer's Liability"Bodily injury" to:(1) An "employee" of the insured arising out ofand in the course of:(a) Employment by the insured; or(b) Performing duties related to the conduct of the insured's business; or(2) The spouse, child, parent, brother or sisterof that "employee" as a consequence ofParagraph (1) above.(1) Causing or contributing to the intoxicationof any person;This exclusion applies whether the insuredmay be liable as an employer or in any othercapacity and to any obligation to share damages with or repay someone else who mustpay damages because of the injury.(2) The furnishing of alcoholic beverages to aperson under the legal drinking age orunder the influence of alcohol; orThis exclusion does not apply to liability assumed by the insured under an "insuredcontract"."Bodily injury" or "property damage" for whichany insured may be held liable by reason of:(3) Any statute, ordinance or regulation relating to the sale, gift, distribution or use ofalcoholic beverages.Page 2 of 16Copyright, Insurance Services Office, Inc., 2012CG 00 01 04 13

f.Pollution(1) "Bodily injury" or "property damage" arising out of the actual, alleged or threateneddischarge, dispersal, seepage, migration,release or escape of "pollutants":(a) At or from any premises, site or location which is or was at any time ownedor occupied by, or rented or loaned to,any insured. However, this subparagraph does not apply to:(i) "Bodily injury" if sustained within abuilding and caused by smoke,fumes, vapor or soot produced byor originating from equipment thatis used to heat, cool or dehumidifythe building, or equipment that isused to heat water for personaluse, by the building's occupantsor their guests;(ii)"Bodily injury" or "property damage" for which you may be heldliable, if you are a contractor andthe owner or lessee of such premises, site or location has beenadded to your policy as an additional insured with respect to yourongoing operations performed forthat additional insured at thatpremises, site or location andsuch premises, site or location isnot and never was owned or occupied by, or rented or loaned to,any insured, other than that additional insured; or(iii)"Bodily injury" or "property damage" arising out of heat, smoke orfumes from a "hostile fire";(d) At or from any premises, site or location on which any insured or any contractors or subcontractors workingdirectly or indirectly on any insured'sbehalf are performing operations if the"pollutants" are brought on or to thepremises, site or location in connection with such operations by such insured, contractor or subcontractor.However, this subparagraph does notapply to:(i) "Bodily injury" or "property damage" arising out of the escape offuels, lubricants or other operatingfluids which are needed to perform the normal electrical, hydraulic or mechanical functionsnecessary for the operation of"mobile equipment" or its parts, ifsuch fuels, lubricants or otheroperating fluids escape from a vehicle part designed to hold, storeor receive them. This exceptiondoes not apply if the "bodily injury"or "property damage" arises out ofthe intentional discharge, dispersal or release of the fuels, lubricants or other operating fluids, orif such fuels, lubricants or otheroperating fluids are brought on orto the premises, site or locationwith the intent that they be discharged, dispersed or released aspart of the operations being performed by such insured, contractor or subcontractor;(ii)"Bodily injury" or "property damage" sustained within a buildingand caused by the release ofgases, fumes or vapors from materials brought into that building inconnection with operations beingperformed by you or on your behalf by a contractor or subcontractor; or(iii)"Bodily injury" or "property damage" arising out of heat, smoke orfumes from a "hostile fire".(b) At or from any premises, site or location which is or was at any time usedby or for any insured or others for thehandling, storage, disposal, processing or treatment of waste;(c) Which are or were at any time transported, handled, stored, treated, disposed of, or processed as waste by orfor:(i) Any insured; or(ii)CG 00 01 04 13Any person or organization forwhom you may be legally responsible; or(e) At or from any premises, site or location on which any insured or any contractors or subcontractors workingdirectly or indirectly on any insured'sbehalf are performing operations if theoperations are to test for, monitor,clean up, remove, contain, treat, detoxify or neutralize, or in any way respond to, or assess the effects of,"pollutants".Copyright, Insurance Services Office, Inc., 2012Page 3 of 16

(2) Any loss, cost or expense arising out ofany:(5) "Bodily injury" or "property damage" arising out of:(a) Request, demand, order or statutoryor regulatory requirement that any insured or others test for, monitor, cleanup, remove, contain, treat, detoxify orneutralize, or in any way respond to,or assess the effects of, "pollutants"; or(a) The operation of machinery or equipment that is attached to, or part of, aland vehicle that would qualify underthe definition of "mobile equipment" ifit were not subject to a compulsory orfinancial responsibility law or othermotor vehicle insurance law where it islicensed or principally garaged; or(b) Claim or suit by or on behalf of agovernmental authority for damagesbecause of testing for, monitoring,cleaning up, removing, containing,treating, detoxifying or neutralizing, orin any way responding to, or assessing the effects of, "pollutants".(b) The operation of any of the machineryor equipment listed in Paragraph f.(2)or f.(3) of the definition of "mobileequipment".h.However, this paragraph does not apply toliability for damages because of "propertydamage" that the insured would have inthe absence of such request, demand,order or statutory or regulatory requirement, or such claim or "suit" by or on behalf of a governmental authority.g."Bodily injury" or "property damage" arising outof:(1) The transportation of "mobile equipment"by an "auto" owned or operated by orrented or loaned to any insured; or(2) The use of "mobile equipment" in, or whilein practice for, or while being prepared for,any prearranged racing, speed, demolition, or stunting activity.Aircraft, Auto Or Watercraft"Bodily injury" or "property damage" arising outof the ownership, maintenance, use or entrustment to others of any aircraft, "auto" or watercraft owned or operated by or rented or loanedto any insured. Use includes operation and"loading or unloading".i.(1) A watercraft while ashore on premises youown or rent;(2) A watercraft you do not own that is:(a) Less than 26 feet long; and(b) Not being used to carry persons orproperty for a charge;(3) Parking an "auto" on, or on the ways nextto, premises you own or rent, provided the"auto" is not owned by or rented or loanedto you or the insured;(4) Liability assumed under any "insured contract" for the ownership, maintenance oruse of aircraft or watercraft; orPage 4 of 16War"Bodily injury" or "property damage", howevercaused, arising, directly or indirectly, out of:(1) War, including undeclared or civil war;This exclusion applies even if the claimsagainst any insured allege negligence or otherwrongdoing in the supervision, hiring, employment, training or monitoring of others by thatinsured, if the "occurrence" which caused the"bodily injury" or "property damage" involvedthe ownership, maintenance, use or entrustment to others of any aircraft, "auto" or watercraft that is owned or operated by or rented orloaned to any insured.This exclusion does not apply to:Mobile Equipment(2) Warlike action by a military force, includingaction in hindering or defending against anactual or expected attack, by any government, sovereign or other authority usingmilitary personnel or other agents; or(3) Insurrection, rebellion, revolution, usurpedpower, or action taken by governmentalauthority in hindering or defending againstany of these.j.Damage To Property"Property damage" to:(1) Property you own, rent, or occupy, including any costs or expenses incurred byyou, or any other person, organization orentity, for repair, replacement, enhancement, restoration or maintenance of suchproperty for any reason, including prevention of injury to a person or damage toanother's property;(2) Premises you sell, give away or abandon,if the "property damage" arises out of anypart of those premises;(3) Property loaned to you;Copyright, Insurance Services Office, Inc., 2012CG 00 01 04 13

(4) Personal property in the care, custody orcontrol of the insured;(5) That particular part of real property onwhich you or any contractors or subcontractors working directly or indirectly onyour behalf are performing operations, ifthe "property damage" arises out of thoseoperations; orThis exclusion does not apply to the loss ofuse of other property arising out of sudden andaccidental physical injury to "your product" or"your work" after it has been put to its intendeduse.n.Damages claimed for any loss, cost or expense incurred by you or others for the loss ofuse, withdrawal, recall, inspection, repair, replacement, adjustment, removal or disposal of:(6) That particular part of any property thatmust be restored, repaired or replaced because "your work" was incorrectly performed on it.(1) "Your product";Paragraphs (1), (3) and (4) of this exclusiondo not apply to "property damage" (other thandamage by fire) to premises, including thecontents of such premises, rented to you for aperiod of seven or fewer consecutive days. Aseparate limit of insurance applies to DamageTo Premises Rented To You as described inSection III - Limits Of Insurance.Paragraph (2) of this exclusion does not applyif the premises are "your work" and were neveroccupied, rented or held for rental by you.Paragraphs (3), (4), (5) and (6) of this exclusion do not apply to liability assumed under asidetrack agreement.(2) "Your work"; or(3) "Impaired property";if such product, work, or property is withdrawnor recalled from the market or from use by anyperson or organization because of a known orsuspected defect, deficiency, inadequ

Underwritten by: Scottsdale Insurance Company Home Office: One Nationwide Plaza Columbus, Ohio 43215 Administrative Office: 8877 North Gainey Center Drive Scottsdale, Arizona 853258 1-800-423-7675 A Stock Company In Witness Whereof, the Company has caused this policy to be executed and attested. Secretary President