INSURANCE COVER
1.1 It is agreed and understood that the Insurer will indemnify the Insured for loss of or damage to existing property located on or immediately adjacent to the site and belonging to or held in care, custody or control by the Principal (s) or the Contractor (s)
provided always that
1.2 such loss or damage is directly caused by the construction, erection or testing of the works insured under the Material Damage Section (s) and occurring during the Period of Insurance
1.3 a separate sum insured is entered in the Schedule under the Material Damage Section (s)
1.4 all terms, conditions and exclusions of the Policy shall apply insofar as they are not modified or replaced by the stipulations of this Endorsement