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LOSS PAYABLE CLAUSE - MOBILE ]ECIWIPMENT <br />This endorsement forms a part of the Declarations to which attached, effective on <br />the inception date of the coverage unless otherwise stated herein, and modifies such <br />coverage as is afforded by the provisions of the coverage shown be|ow� <br />Member San Marcos <br />Member ID 8475 <br />Effective Date : 10/01/2016 <br />It is understood and agreed that loss or damage to the mobile equipment described in this <br />endorsement shall be paid as interest may appear to the person or organization nanned <br />USBancorp Government Leasing and Finance Inc Mai -shall <br />l]lOMadrid St#IOI <br />Marshall 'IVIN 56258 <br />The mosivve will pay for any loss to the described equipment is the lesser of: <br />i the value indicated below, or; <br />l. the replacement cost or actual cash value of the equipment, based on the valuation <br />method selected 6ythe member, minus the applicable deductib|e� <br />Designation or Description of Equipment <br />Year Make/Model Senal Number Value <br />2016 Gradall 3140000384 S387,000 <br />TEXAS MUNICIPAL LEAGUE INTERGOVERNMENTAL RISK POOL <br />