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Maxum Indemnity Co. v. World Pawn Exchange, LLC

United States District Court, D. Oregon, Eugene Division

May 8, 2018

MAXUM INDEMNITY COMPANY, Plaintiff,
v.
WORLD PAWN EXCHANGE, LLC, Defendants.

          COZEN O'CONNOR, MICHAEL D. HANDLER ATTORNEYS FOR PLAINTIFF MAXUM INDEMNITY COMPANY

          PARSONS FARNELL & GREIN, LLP JOHN D. PARSONS ATTORNEYS FOR WORLD PAWN EXCHANGE, LLC

          STIPULATION AND ORDER OF REFORMATION OF MAXUM INDEMNITY COMPANY POLICY NO. BDG 0068496-01

         Plaintiff Maxum Indemnity Company ("Maxum") and Defendant World Pawn Exchange, LLC ("World Pawn") are parties to the above-captioned proceeding ("Litigation"). Maxum and World Pawn shall be referred to herein collectively as "Parties" and individually as "Party." The Parties have conferred and discussed all subjects of this Stipulation and proposed Order.

         WHEREAS, the Parties wish to stipulate to the existence of certain relevant terms of the Policy as referenced in the Complaint filed in this matter, subject to the limitations set forth below, NOW, THEREFORE, the Parties AGREE AND STIPULATE as follows:

         1. The Parties agree that the Policy is reformed to include Form E3O2 that was referenced in the "Binder" dated December 27, 2012, attached as Exhibit D to the Complaint in this Litigation, and that this reformation of the Policy is effective commencing on December 27, 2012. A copy of Form E3O2 is attached hereto as Exhibit 1, Accordingly, the provisions of the referenced Form E3O2 that are included in the Policy state, in part, as follows:

LIMITATION ENDORSEMENT PAWNSHOPS
Exclusion-Firearms or Ammunition Products
This insurance does not apply to "bodily injury" or "property damage" included in the "products-completed operations hazard" and arising out of firearms or ammunition.

         2. All other terms and conditions of the Policy remain unchanged, and the Parties' agreement in Paragraph 1 of this Stipulation is subject to the specific limitations set forth in paragraph 3 below and subject to this Stipulation's other terms and conditions;

         3. Except for the Parties' agreement stated expressly in Paragraph 1 of this Stipulation, nothing in this Stipulation constitutes an interpretation of or an admission regarding the Policy. Each Party reserves all of its rights concerning the interpretation and application, if any, of the Policy to the claims at issue in this litigation.

         4. This Stipulation cannot be used for any other purpose than reformation of the Policy as agreed herein and/or as ordered by the Court below, and therefore it cannot be used in any litigation or with respect to any claim that does not involve coverage under the Policy. Except to the extent specifically set forth herein, the Parties do not intend to be bound by this Stipulation as to any third party.

         5. Other than as set forth herein, the Parties reserve all of their respective rights and defenses and this Stipulation shall not be construed as an express or implied admission that coverage does or does not attach for any claims under the Policy that are at issue in this Litigation.

         SO STIPULATED AND AGREED:

         SO ...


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