PRINCIPALS EXISTING PROPERTY BELONGING TO OR HELD IN CARE, CUSTODY OR CONTROL BY THE INSURED

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It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the policy or endorsed thereon and subject to the Insured having paid the agreed extra premium, the cover under Section 1 shall be extended to cover loss of or damage to property located on or adjacent to the site and belonging to or held in care, custody or control of the Principal (s) or the Contractors (s) shall only be covered if occurring in direct connection with the erection, construction or testing of the items insured and happening during the period of cover, and provided that this cover does not apply to construction/erection machinery and construction/erection plant and equipment.

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