MAXIMUM LOAN AMOUNT OF MSRP/ 125%
NADA RETAIL NOT TO EXCEED


I (CUSTOMER), WHOSE SIGNATURE APPEARS BELOW, ACKNOWLEDGE THAT THE INFORMATION CONTAINED ABOVE IS, TO THE BEST
OF MY KNOWLEDGE, TRUE. I HAVE READ THE DEFICIENCY WAIVER ADDENDUM IN ITS ENTIRETY, AND AGREE TO ALL OF THE
PROVISIONS HEREIN. THE PURCHASE OF THE DEFICIENCY WAIVER ADDENDUM IS VOLUNTARY AND IS NOT REQUIRED TO
OBTAIN CREDIT. I UNDERSTAND I MAY OBTAIN GAP PROTECTION FROM AN ALTERNATE SOURCE. I UNDERSTAND I MAY
CANCEL THIS GAP ADDENDUM AT ANY POINT DURING THE ORIGINAL TERM OF THE RETAIL INSTALLMENT CONTRACT. I
UNDERSTAND THAT A CANCELLATION REQUESTED WITHIN THIRTY (30) DAYS OF PURCHASE IS ELIGIBLE FOR A FULL REFUND. I
UNDERSTAND THAT A CANCELLATION REQUEST RECEIVED AFTER THIRTY (30) DAYS OF PURCHASE WILL BE REFUNDED BY
RULE OF 78'S, UNLESS OTHERWISE REQUIRED BY APPLICABLE STATE LAW.


COVERAGE
The named Customer is responsible to the named Dealer/Lender/Lessor under the terms of the described Installment Sales Contract/Loan/Lease
Agreement for the amount of any early termination liability resulting from a Total Loss of the Vehicle. Due to this Addendum being in effect, the
Dealer/Lender/Lessor agrees to cancel a portion of the Customer’s indebtedness in the event of a Total Loss of the Vehicle as defined herein.
The Deficiency Waiver Addendum will pay the amount equal to the Unpaid Net Balance less the Actual Cash Value (ACV) of the Vehicle, both as
defined herein, subject to the ACV, not having been reduced by more than $1,000 as a result of the application of the Customer's primary insurance
deductible. Any deductible amount in excess of $1000 remains the Customer's responsibility. It is further agreed that the maximum claim payment
is limited to $50,000.
DECLINATION OF DEFICIENCY WAIVER ADDENDUM
I DO NOT CHOOSE TO PURCHASE THE DEFICIENCY WAIVER ADDENDUM. I UNDERSTAND THAT BY NOT ACCEPTING THE DEFICIENCY
WAIVER ADDENDUM, I AM NOT ENTITLED TO ANY OF THE BENEFITS IN THE EVENT OF A TOTAL LOSS OF THE VEHICLE.

DEFINITIONS
For the purpose of this Deficiency Waiver Addendum the following terms shall mean:
Customer means the purchaser of the Vehicle, as listed in the application section of this Addendum.
Vehicle means the four-wheeled private passenger vehicle, van, pickup or light truck not to exceed 3/4 ton capacity, as listed in the application section
of this Addendum.
Date of Loss means the date on which the actual physical loss or damage occurred to the Vehicle. If such date is indeterminable, the Date of Loss shall
be either the date established by the primary insurance carrier or the date the occurrence was reported to the police, whichever is the earlier.
Actual Cash Value means the Customer’s Primary Insurance gross settlement, less deductible not exceeding $1000 or the Average of the National
Automobile Dealer’s Association (N.A.DA.) Official Used Car Guide’s “Retail” and “Trade In” values or Kelly Blue Book Guide’s values; whichever
is the greater. All valuations will be based on the best information available on the vehicle’s options and condition.
Total Loss means a total or constructive total loss as defined by the individual Customer’s primary automobile physical damage carrier. If no primary
physical damage carrier exists, then a Total Loss shall mean when the repair cost exceeds the Actual Cash Value or, in the event of a theft, when the
Vehicle has not been recovered after a minimum period of 30 days from the date of the original police theft report.
Unpaid Net Balance is defined for the sole purpose of claims calculations, per the original retail installment sales contract or loan agreement, as the
original “Amount Financed” divided by “Number of Payments” multiplied by number of months remaining from the Date of Loss to the final payment
due date less all cancelable item refunds. No consideration will be given for any deferred, late or delinquent payments.

TERMS AND CONDITIONS
a. No coverage is provided for any Installment Sales Contract/Loan/Lease when the original term exceeds 72 months.
b. No coverage is provided for that portion of the Unpaid Net Balance that results from the amount financed/lease cap cost exceeding the percentage of
the MSRP on New vehicles and NADA “Retail” on Used vehicles selected on the front of this waiver, at the inception date of the Installment Sales
Contract/Loan/Lease. These Installment Sales Contracts/Loans/Leases will not be disqualified from coverage; however, the Unpaid Net Balance will
be determined based on this maximum limit.
c. Primary Insurance: Should the Customer not have collectible physical damage insurance on the Date of Loss, it is the responsibility of the Customer
to advise NSD GAP in writing immediately when the loss is discovered and NSD GAP will calculate the Actual Cash Value of the Vehicle
immediately prior to the loss using the book values stated in the “Actual Cash Value” definition.
d. This Deficiency Waiver Addendum is transferable only in the event the original loan is assumed by a third party and is subject to a $50.00
transfer fee.
e. This Deficiency Waiver Addendum is cancelable upon completion of the GAP Cancellation form at the originating dealer and is subject to the
effective date of the cancellation not being prior to the date the cancellation form is completed at the originating dealer. This addendum may be flat
canceled within thirty (30) days of the effective date, after thirty (30) days any refunds will be calculated at the Rule of 78s, unless otherwise required by
applicable state law. However, in the event of Total Loss to the covered vehicle, the Addendum will be deemed as fully earned and therefore, no refund
will be due. All cancellations are subject to a $50.00 cancellation fee.
f. This Addendum shall be void if there is any change in the terms and conditions of the installment sales contract/loan/lease, change of assignee or any
material facts have been concealed or misrepresented, or the case of fraud.
g. This Addendum may not necessarily pay off the entire Unpaid Net Balance due by the Customer.
h. All claims calculations under this waiver will strictly adhere to the terms and conditions of this waiver, and therefore such
calculations may not match or equal the calculation determined by the original lender.
i. No payment will be made for any vehicle unless this Addendum has been reported to NSD GAP by the dealer.

EXCLUSIONS
This Addendum does not apply to loss or damage:
a. Resulting directly or indirectly from fraudulent act or due to the legal confiscation of the vehicle by a public official.
b. Caused by a deliberate act of the customer or with the customer’s knowledge that results in the vehicle being deemed a total loss.
c. A vehicle that is part of a fleet or used for public hire, taxicabs, limousines, etc.

Claim Requirements
IN THE EVENT OF A CLAIM, the Customer must provide, within sixty (60) days of the Date of Loss, to NSD GAP Claims Department at 800 Yamato
Road, Suite 100, Boca Raton, FL 33431 1-888-684-9327 the following documentation before any payment under this Addendum can be processed.
Failure to provide this documentation within sixty (60) days of the Date of Loss will VOID this Addendum.
1.Complete documentation from the Customer’s primary insurance company substantiating the date of and cause of loss of the Vehicle, gross settlement
amount, deductible, the net settlement amount and proof of payment.
Should the Customer not have collectible physical damage insurance on the Date of Loss, it is the Customer’s responsibility to advise NSD GAP in
writing immediately when the loss is discovered and NSD GAP will calculate the Actual Cash Value of the Vehicle immediately prior to the loss.
2. Complete documentation from the Dealer/Lender/Lessor showing the exact unpaid balance as defined herein.
3. Copy of GAP Addendum.
4. Copy of Bill of Sale (Invoice), and copy of Loan / Lease / Balloon Agreement for the purchase of the vehicle substantiating vehicle make, model,
year, options, and accessories, any cancelable items purchased, total purchase price and amount financed.
5. Copy of the police report.
6. Documentation showing refund amounts of any cancelable items purchased.

STATE PROVISIONS
The cancellation fee and processing fee is not acceptable in Kansas, Louisiana, Missouri, New Hampshire, New Mexico, Vermont and Wisconsin. Vermont:
The Seller must assign, sell or transfer, within fifteen (15) business days, the Retail Installment sale contract/loan/lease to a Financial Institution as defined
in the subdivision 11101(32) of Title 8 to an entity licensed under subdivision 2209(a)(1) or (3) of Title 8 or this addendum is void and You will receive a
full refund of the charges of this addendum. The extension of credit, the terms of credit nor the terms of the related sale in the case of a motor vehicle are
to beconditioned upon the purchase of a debt protection agreement. Tennessee: The cost of this addendum is not regulated and you have the
responsibility to determine whether the cost of this addendum is reasonable in relation to the protection afforded by this addendum. The extension of credit,
the terms of the credit nor the terms of the related sale in the case of a motor vehicle are conditioned upon the purchase of a debt protection agreement.
PLEASE MAKE SURE all documents are totally legible, otherwise payment will be suspended until legible copies can be obtained.