-11-

by then made, shall be made as soon as practicable after cancellation. The Company's check or the check of its representative mailed or delivered as aforesaid shall be sufficient tender of any refund of premium due to the Insured.

If this policy insures more than one Named Insured, cancellation may be effected by the first of such Named Insureds for the account of all the Named Insureds; notice of cancellation by the Company to such first Named Insured shall be deemed to be notice to all Insureds and payment of any unearned premium to such first Named Insured shall be for the account of all interests therein.

16. Bankruptcy and Insolvency

In the event of the bankruptcy or insolvency of the Insured or any entity comprising the Insured, the Company shall not be relieved thereby of the payment of any claims hereunder because of such bankruptcy or insolvency.

IN WITNESS WHEREOF, the CONTINENTAL CASUALTY COMPANY has caused this policy to be signed by its president and secretary, at Chicago, Illinois, but the same shall not be binding upon the company unless countersigned on the declarations page by a duly authorized agent of the company.

**Wisner T. Boykin**
**Secretary**

**E. Donald**
**President**

98-03 N.Y. - METRO.
03 24 MAR 24 '65

P1-40103-A