Definitions

"Actual Cash Value"means the "replacement cost" at the time of loss, of the damage or destroyed property, less depreciation.

"Automatic Sprinkler System" means any automatic fire protective or extinguishing system, including connected sprinklers and discharge nozzles, ducts, pipes, valves and fittings; tanks, their component parts and supports; and pumps and private fire protection mains. When supplied from an automatic fire protective system, non-automatic fire protective systems; and hydrants, standpipes and outlets

"Burglary"  means forcible entry into a building or structure.  There must be evidence of forcible entry.  The Covered Property must be protected by a security device(s).  Any and all security device(s) must be engaged at the time of “burglary”. There must be evidence that the security devices(s) were engaged and circumvented or defeated at the time of the “burglary”.  If there is no evidence of forcible entry, a loss to Covered Property can also be considered “burglary” if the Covered Property was secured by means such as a chain, lock, cable, bolted, and there is evidence of forced removal.

"Extra Expense" means the excess of the total cost incurred during the period of restoration of the damaged Covered Property over and above the total cost that would normally have been incurred to conduct operations during the same period had no loss occurred.  These are expenses incurred around the time of the loss with the goal to reduce or mitigate the extent of the loss.

"Pollutants" means any solid, liquid, gaseous or thermal irritant or contaminant, including smoke, vapors, soot, fumes, acids, alkalis, chemicals and waste. Waste includes materials to be recycled, reconditioned or reclaimed.

"BLLIP" (Buildings, Land, Leases, Inventory Property) is the data base system on which UGA reports values and locations of Covered Property to DOAS/RMS.

"Rental Value" for the purposes of this Agreement is defined as the sum of the total anticipated gross rental income from the tenant occupancy of the described property as furnished and equipped by you, and the amount of all charges which are the legal obligation of the tenant(s) and which would otherwise be obligations of you. "Rental value" could also be defined as the fair rental value of any portion of said property which is occupied by you.

"Replacement cost" means the amount it would take to replace the damaged or destroyed property with property of like kind and quality, determined at the time of loss.

"State owned" building, structure or personal property means property to which the State of Georgia has legal title and over which it exercises possession or control.

"Stock" means merchandise held in storage or for sale, raw materials and in-process or finished goods, including supplies used in their packing or shipping.