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Notice shall be deemed to be received, if sent by <br />prepaid mail properly addressed. <br />VII. GENERAL CONDITIONS: <br />(a) Warranty and Severability Clause <br />it is warranted that the particulars and statements <br />contained in the written proposal, copy of which is <br />attached hereto, and the Declarations are the basis <br />of this policy and are to be considered as in- <br />corporated in and constituting part of the policy. <br />As respects the particulars and statements con- <br />tained in the written proposal and the Exclusions <br />set forth herein, this policy shall be construed as a <br />separate agreement with each Insured. Nothing in <br />this paragraph shall be construed to increase the <br />Company's maximum liability as set forth in <br />Section V of this policy. <br />(b) Cancellation Clause <br />This policy may be canceled by the Insureds at any <br />time by written notice or by surrender of this <br />policy. This policy may also be canceled by or on <br />behalf of the Company by delivery to the Insureds <br />or by mailing to the Insureds by registered, cer- <br />tified or other first class mail, at the Insured's <br />address shown in this policy, written notice stating <br />when, not less than thirty (30) days thereafter, the <br />cancellation shall become effective. The mailing of <br />such notice es aforesaid shall be sufficient proof of <br />notice and this policy shall terminate at the date <br />and hour specified in such notice. <br />If this policy shall be canceled by the Insureds, the <br />Company shall retain the customary short rate <br />proportion of the premium hereon. <br />If this policy shall be canceled by or on behalf of <br />the Company, the Company shall retain the pro - <br />rata proportion of the premium hereon. Payment or <br />tender of any unearned premium by the Company <br />shall not be a condition precedent to the ef- <br />fectiveness of cancellation but such payment shall <br />be made as soon as practicable. If the period of <br />limitation relating to the giving of notice is <br />prohibited or made void by any law controlling the <br />construction thereof, such period shall be deemed <br />to be amended so as to be equal to the minimum <br />period of limitation by such law. <br />(c) Subrogation Clause <br />In the event of any payment under this policy, the <br />(d) <br />(e) <br />(1) <br />Company shall be subrogated to the extent of such <br />payment to all rights of recovery therefore, and the <br />Insureds shall execute all papers required and shall <br />do everything that may be necessary to secure and <br />preserve such rights including the execution of <br />such documents necessary to enable the Company <br />effectively to bring suit in the name of the <br />Insureds. <br />Public Entity Authorization Clause <br />By acceptance of this policy, the Public Entity <br />named in Item A of the Declarations agrees to act <br />on behalf of all Insureds with respect to the giving <br />and receiving of notice of claim or cancellation, the <br />payment of premiums and the receiving of any <br />return premiums, that may become due under this <br />policy and the Insureds agree that the Public Entity <br />shall act on their behalf. <br />Conformity Clause <br />Terms of this policy which are in conflict with the <br />statutes of those states wherein certain provisions <br />and coverages included under this policy are not <br />permitted are hereby amended to cover only those <br />provisions and coverages as apply and conform to <br />such statutes. <br />Action Against Company <br />No action shall lie against the Company, unless as <br />a condition precedent thereto, the Insureds shall <br />have fully complied with all terms of this policy. In <br />the event of the bankruptcy or insolvency of the <br />Insureds. the Company shall not be relieved of the <br />payment of such indemnity hereunder as would <br />have been payable but for such bankruptcy or <br />insolvency. <br />(g) Changes <br />Notice to any agent or knowledge possessed by <br />any agent or by any other person shall not effect a <br />waiver or a change in any part of this policy or <br />estop the Company from asserting any right under <br />the terms of this policy. nor shall the terms of this <br />policy be waived or changed, except by en- <br />dorsement issued to form part of this policy. <br />(h) Assignment <br />Assignment of interest under this policy shall not <br />bind the Company until its consent is endorsed <br />hereon. <br />IN WITNESS WHEREOF, the Company has caused this policy to be executed and attested, but this policy shall not be valid <br />unless countersigned by a duly Authorized Representative of the Company. <br />"Lea/ <br />Gerald E. Dennis, Secretary <br />Howard H. Lamb, President <br />