5704.4.2.4 Storage Adjacent to Buildings - (Flammables)

[lab_planner]

Proposing to store (12) 55 gallon containers (660 gallons total) of Class IB flammables adjacent to a building in an outdoor covered area.

I'm wondering if others would interpret 5704.4.2.4 as saying that there does not need to be a 2-hour rated wall because the building is only one story?
However the building itself is not principally used for the storage of liquids?

5704.4.2.4 Storage Adjacent to Buildings
Not more than 1,100 gallons (4163 L) of liquids stored in closed containers and portable tanks is allowed adjacent to a building located on the same premises and under the same management, provided that one of the following requirements is met:

1. The building does not exceed one story in height. Such building shall be of fire-resistance-rated construction with noncombustible exterior surfaces or noncombustible construction and shall be used principally for the storage of liquids.
2. The exterior building wall adjacent to the storage area shall have a fire-resistance rating of not less than 2 hours, having no openings to above-grade areas within 10 feet (3048 mm) horizontally of such storage and no openings to below-grade areas within 50 feet (15 240 mm) horizontally of such storage.

The quantity of liquids stored adjacent to a building protected in accordance with Item 2 is allowed to exceed 1,100 gallons (4163 L), provided that the maximum quantity per pile does not exceed 1,100 gallons (4163 L) and each pile is separated by a 10-foot-minimum (3048 mm) clear space along the common wall.