It is agreed and declared that EXCLUSION 4.2.2 of this Policy shall not apply to liability for Property Damage to property damage of guests or lodgers deposited with the Insured specifically for safe custody provided that Company’s Limit of Indemnity under this endorsement shall not exceed US$ 10,000.- any one occurrence and US$ 25,000.- in the aggregate any one period of insurance.
Provided further that Company shall not be liable for:
- The first US$ 500.- of each and every claim
- Property Damage to property, which is not received for safe custody through the refusal or default of the Insured.
