This endorsement, effective 12:01 A.M., MAY 21, 1978 forms a part of policy number 551-28-81 issued to INTERNATIONAL BUSINESS MACHINES by Lexington Insurance Company

It is agreed that the insurance afforded by this Policy shall not apply:

1. To any liability for property damage arising out of:
   A. Blasting or explosion other than the explosion of air or steam vessels, piping under pressure, prime movers, machinery or power transmitting equipment; or
   B. The collapse of or structural injury to any building or structure due to (i) grading of land, excavation, burrowing, filling or back-filling, tunnelling, pile driving, coffer-dam work or caisson work, or (ii) moving, shoring, underpinning, raising or demolition of any building or structure, or removal or rebuilding of any structural support thereof; or
   C. Injury to or destruction of wires, conduits, pipes, mains, sewers, tanks, tunnels, any similar property, and any apparatus in connection therewith, beneath the surface of the ground or water, caused by and occurring during the use of mechanical equipment for the purpose of grading land, paving, excavating, drilling, burrowing, filling, back-filling or pile driving.

2. To any liability for personal injury or property damage assumed by the Insured under any contract.

Unless such liability is covered by valid and collectible underlying insurance at the full limits of liability as described in the schedule of underlying insurance, and then only for such hazards for which coverage is afforded under said underlying insurance.

It is further agreed that the insurance afforded by this policy shall not apply to any liability arising out of:
1. Any project insured under a "wrap-up" or any similar rating plan;
2. Joint venture(s);
3. Any professional services performed by or on behalf of the Insured, including the preparation or approval of maps, plans, opinions, reports, surveys, designs or specifications, and any supervisory, inspection or engineering services, and
4. To liability for injury to or destruction of any property leased by, rented to, used by, or in the care, custody or control of the Insured, his agents, or sub-contractors or to any property as to which the Insured, his agents or sub-contractors are, for any purpose, exercising physical control.

All other conditions remain the same.
```

This text outlines specific exclusions from the insurance coverage provided by the policy, detailing various scenarios where the insurance will not apply.