Cash Surrender. l0f. Upon receipt of this Policy and a full and valid surrender of all claims hereunder, without the consent or participation of any beneficiary not irrevocably designated, the Company will pay its then cash surrender value. While this Policy is in full force, including the grace period, the surrender value will be as stated in the preceding paragraph numbered 10a, and thereafter shall be the full reserve on the form of insurance then in force, less any indebtedness to the Company on account hereof.

Policy Loans. l0g. At any time while this Policy is in force except as extended term insurance, and without the consent or participation of any beneficiary not irrevocably designated, the Company will on receipt of this Policy properly assigned advance on the sole security hereof any amount up to the limit secured by its cash surrender value; such advancement to be evidenced by written agreement made at the Home Office. The sum advanced shall bear interest at the rate of six per cent. per annum and may be repaid at any time while this Policy is in force except as extended term insurance. Unpaid interest shall be added to the existing indebtedness and bear interest on the same terms. Failure to pay either the sum advanced or interest thereon shall not avoid this Policy unless the total indebtedness to the Company on account hereof shall equal or exceed the then cash surrender value, nor until thirty-one days after notice shall have been mailed to the last known address of the Insured and of any Assignee.

l0h. The Company shall have the right to defer payment of a cash value or the making of a loan (unless for the purpose of paying renewal premiums on policies in this Company) for a period not exceeding ninety days.

Table Of Non-Forfeiture And Loan Values

Based Upon a Policy of $1,000 Free from Indebtedness and Without Dividend

Additions

The Loan, Cash and Paid-up values stated will apply pro rata to the amount of this Policy. Due allowance will be made for any dividend additions continued in force and also for any portion of a year's premium paid over and above the premiums for the full number of years indicated. Indebtedness will be adjusted as stated in the Policy.

The Values In this Table after the fourteenth policy year are equal to the full reserve according: to the American Experience Table of Mortality with interest at three per cent. The basis upon which the Table is constructed will apply if this Policy be continued in force beyond the twenty-second year.

Loan Values are available at any time after two full years premiums have been paid in accordance with the provisions of the above paragraphs numbered "10g:" end "10h."

The Loan Values stated in the Table annexed are for the end of the Policy year Indicated. The Loan Value at any time other than the end of the Policy year (provided the full year's premium has been paid) will be the value at the end of the current Policy year, discounted at the rate of six per cent. per annum.

special provisions relating to settlement when this policy becomes payable

The Insured shall have the right, with the privilege of revocation and change, to elect in lieu of payment in one sum, either Option "A," "B," or "C," or that the amount payable be distributed under two or more of said options. The Beneficiary or Beneficiaries when this Policy becomes payable shall have the same right and privilege if no such election effected by the Insured shall then be in force; and shall also (subject to the rights of any assignee, and if there then be living no Contingent Beneficiary designated by the Insured) have the right, with the privilege of revocation and change, to designate a Contingent Beneficiary or Beneficiaries whose interest shall be as expressed in, or endorsed by the Company on this Policy; provided however:

Amt. Payable. - 1st. The amount payable must equal or exceed $1,000 for each option elected.

Endorsement. - 2nd. No election, direction, designation, revocation or change shall be effective unless duly made in writing and filed at the Home Office of the Company (accompanied by this Policy for suitable endorsement) prior to or at the time this Policy shall become payable.

Deceased Beneficiary. - 3rd. If there be more than one Beneficiary when this Policy becomes payable the interest of any such Beneficiary deceased shall, upon satisfactory proof of such decease, pass to the survivor or survivors unless otherwise directed by the Insured. Under Option "C" only so many of the stipulated installments, if any, as then remain unpaid, will so pass.

Rights of Contingent Beneficiary. - 4th. Unless otherwise directed by the designator the Contingent Beneficiary or Beneficiaries, if any, shall, upon satisfactory proof of the death of the last surviving Beneficiary, succeed to all the interest, rights and privileges then possessed by such Beneficiary. Under Option "C" the interest of any Contingent Beneficiary will be limited to such of the stipulated installments, if any, as then remain unpaid.

Last Surviving Beneficiary or Contingent Beneficiary. - 5th. At the death of the last surviving Beneficiary if there be no Contingent Beneficiary then living, or at the death of the last surviving Contingent Beneficiary occurring subsequently thereto, the amount retained by the Company under Option "A" shall, unless otherwise directed by the designator, be paid to the executors, administrators or assigns of such last surviving Beneficiary or Contingent Beneficiary upon due surrender of this Policy. Under the same conditions any installments under Option "B," or any stipulated installments under Option "C," then remaining unpaid, shall be commuted on the basis of three per cent. compound interest and paid in one sum in like manner.

Extension. Commutation. Option A. - To have the whole or any part not less than $1,000 of the net proceeds of this Policy at the death of the Insured retained by the Company until the death of the last surviving Beneficiary or Contingent Beneficiary, the Company in the meantime to pay interest thereon annually at the rate of three per cent. of the amount so retained, the first payment being due one year after the death of the Insured. At the time any interest payment becomes due, the Beneficiary, provided the Company shall not have been specifically directed to the contrary by the Insured, shall have the right, upon due surrender of this Policy, to withdraw the amount so retained.

Limited Installments. Commutation. Option B. - To have the whole or any part not less than $1,000 of the net proceeds of this Policy at the death of the Insured paid in a specified number of annual installments as per the first Table below, which shall apply pro rata per $1,000 of the amount to be so paid, the first installment being payable immediately. At any time when an installment is due, the Beneficiary, provided the Company shall not have been specifically directed to the contrary by the Insured, shall have the right upon due surrender of this Policy to commute the installments remaining unpaid on the basis of three per cent. compound interest.