Common use of BUILDING LAWS Clause in Contracts

BUILDING LAWS. a. This “Memorandum” is extended to include physical damage, business interruption loss, loss of interest and/or extra expense incurred and/or sustained by “You” as a result of physical damage to or destruction of property, by “Covered Perils” against occurring during the “Memorandum Period” and occasioned by the enforcement of any local or state ordinance or law regulating the construction, repair or demolition of buildings or structures, which is in force at the time such a loss occurs, which necessitates the demolition of any portion of the covered building not damaged by the “Covered Peril(s).” b. This “Memorandum” shall also by liable for loss due to the additional period of time required for repair or reconstruction in conformity with the minimum standards of such ordinance or law of the building(s) damaged by a “Covered Peril.” c. This extension of coverage shall not increase the “Limits of Liability” as set forth elsewhere in this