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<br />pr gu.a~~.n~oc of a mortgage on a Unit. An appropriate en.darsement to the policy to cover
<br />. any persons who serve without compensation shall be added xf the policy would net
<br />othe~~wisecover .volunteers, or a waiver of defense based open the exclusion of persons ~ ~ ,
<br />serving withou.~ compensation shall be added.,
<br />~.~,4, ~ workers' Compensation in5z~ra~aee.as applicable and required by law, ,
<br />9,I,S~ Directors and officers liability insurance, if reasn~ahly available, anal ',
<br />wit1~ such reasonable limits and averages as the Board shad determine from tune to
<br />time, ,
<br />9,1.,x, Such other insurance as the Board. may detertni~~ from ti~nc to tin~.e to be
<br />in the best interests of ~e Association. and ~e Owners. , ~;~
<br />~~ ~ ~ ~ ~ I
<br />~,~. Prem.iums~ im rovcn~ents~ Deductibles, Except as provided in ~ectian ~,4 and
<br />this ~ectian all insurance remiu~ms shall be assessed and ~d as an annual Assessment. Polio ~ ~
<br />~ ~ Y ~
<br />deductible amaunts~ shall be determined by the Board. if improvements and. betterments to the
<br />Units are covered., any increased cost may be assessed against the Units affected, The
<br />Association may, in the case of a claim far damage to a Unit or Units, ~i) pay the deductible
<br />amount as a ~omrnan Bxpe~sc; iii} assess the deductible a~nount against any one or ~norc off` the
<br />Units affected in any reasonable manner; or (iii require the Owners of any one or mare of the .
<br />Units affected to pay the dedr~ctible a~not~nt directly. The Association's decision a.s to who shall
<br />be charged with paying the deductible amount may, but neecl not, be based on fault, ~ ~
<br />k
<br />f ~
<br />9,~, bass Pa ee~ insurance T stee, All insurance coveragemaintained by the
<br />Association shall be written ~Yn. the name af, and the proceeds ~i~reaf shall lie payable to, the ~ ~ }
<br />Assaciatia~. for a qualil~ied insurance trustee selected by its as trustee for the ben.efi~ of the f
<br />Owners anal sec~~ed parties which suffer loss. The Association, a:~ any insurance trustee selected
<br />by. it, shall have exclusive authax~.ty to negotiate, settle and collect upon any claims or losses ~ '
<br />. ~
<br />under any insurance policy rna~ntalned by the Assac~atzon, ~
<br />9,4. ~c uired Folic Previsions. A11 policies of property ins~~rance carried by the
<br />Association shall provide that, ~
<br />er tl~e Dlic With
<br />9,4,1, Bach owner anal secured party 1s an mcured. person ~~nd P y ~
<br />respect to liability arising out of the Owner's interest in the Gammon. Elements or
<br />in the ssociatian. ~
<br />membership A
<br />9,4,x, The insurer waives its eight to subrogation under ~e policy against any
<br />Owner or rncmber ofthe Owner's household. and against the ,Association and membe~~s of
<br />the Board.
<br />9,4,x, '~'ii~ average shall not be voided by or conditioned upon ~i) any act ar
<br />amissxon of an Owner or mortgagee, unless acting within the scope of authority on. behalf ~
<br />of the Association, or ~i~i.} any failure of the Assacla~.on to comply with any warranty or ~
<br />condition regarding any portion of the Property over which the Association has na
<br />cohtrai, - '
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<br />MPS-word 20180,3 ~~ '
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