applicable period. (2) Exceptions for business indebtedness Paragraph (1) shall not apply to any indebtedness incurred in connection with a trade or business. (3) Persons described A natural person is described in this paragraph if the principal place of abode of such person on the applicable disaster date was located in the disaster area with respect to any federally declared disaster occurring during any calendar year beginning after 2011 and before 2016. (4) Applicable period For purposes of this subsection, the term applicable period means the period beginning on the applicable disaster date and ending on the date which is 14 months after such date. (5) Other definitions For purposes of this subsection— (A) Federally declared disaster