A flood that is in progress on the earlier of either:

  1. The date the community in which the insured property is located first experiences a flood as defined in this policy; or
  2. The date and time of an event initiating a flood that directly or indirectly affects areas downstream or in a floodway and ultimately results in the damage to the insured property. Events that may initiate such a flooding event include, but are not limited to, the following:
    a. A spillway is opened;
    b. A levee is breached;
    c. Water is released from a dam; and
    d. Water escapes from the banks of a waterway (stream, river, creek, etc).
  3. The applicability of this exclusion will be evaluated upon the assertion by a policyholder of the right to be paid for a loss under this policy.