Case

— The policy upon which this action is based contains, among others, the following clause: —

The fire is alleged to have occurred on the twelfth day of September, 1884, and this action was commenced on the twenty-second day of November, 1885, more than twelve months next after the fire occurred.

The contention of appellant is, that at the time of the commencement of the action it was barred by the terms of said stipulation. That contention must prevail, unless the clause upon which it is based is modified by some other clause or clauses of the policy.

One clause reads as follows: “ The amount of loss or damage to be estimated according to the actual cash marketable value of the property at the time of the loss, which in no case shall exceed what it would then cost to replace the same, deducting therefrom a suitable amount for any depreciation of such property by reason of age, wear and tear, location, change of style, lack of adaptation to profitable use, or other causes. The adjusted claim under this policy shall be due and payable at the company’s office in San Francisco, California, sixty days after the full completion by the assured of all the requirements herein…