The Replacement Cost clause in a Comprehensive Condominium Unit Owners insurance policy stipulates the basis of payment of a claim in the event of a loss to Improvements and Betterments. Which one (1) of the following conditions does NOT apply?"

Options:

A) Any increased cost of repair or replacement due to construction by-laws will not be paid.

B) The insurer will pay the full replacement cost of the damage without deduction for depreciation provided repairs or replacement is made with materials of similar quality within a reasonable time after damage occurs.

C) The insurer will pay nothing until the property has been repaired or replaced with materials of similar quality within a specified period.

D) The insurer will pay only Actual Cash Value if you decide not to repair or replace the damaged property.