(A) Financial losses due to the occurrence of physical perils shall not be afforded coverage by this chapter.
(B) Depreciation due to failure to maintain in good repair the insured residence shall not be covered. This exclusion is reflected in the adjustment procedure set forth in § 1484.07(E) whereby a new, lower appraised valuation is derived reflecting this type of depreciation.
(C) Any person who knowingly affirms falsely to any matter or thing required to be affirmed by the terms of the Program is guilty of perjury.
(D) Any fraud, misrepresentation or concealment on the part of a member in any process involving this chapter or the CRC shall negate all coverage provided to that member by this chapter.
(Ord. 96-37, passed 10-8-1996)