5. HRSR 03-01-2010 - Laserfiche WebLink

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or guarantee of a mortgage on a Unit. An appropriate endorsement to the policy to cover any persons who servo without compensation shall be added if the policy would not otherwise ,cover .volunteers, or a waiver of defense based upon the exclusion of persons serving without compensation shall be added, 9.1.4. workers' Compensation ins uance . as applicable and required by law, 9.1.5. Directors and officers liability mstvance, if reasonably available, and with such reasonable limits and coverages as the Board shall determine from time to r. time, 9&L6, Such other insurance as the Board may determing, from time to time to be in the best interests of the Association, and the Owners. ::yy 9.2. Premiums Im rovements� Deductibles. Except as provided in Section 6,4 and this Section, all i�u s_ ranee premiums shah. be assessed and paid as an annual Assessment. Policy deductible amounts shall be determined by the Board. If Improvements and betterments to the Units are covered, any increased cost may be assessed against the Units affected, The .Association may, in the case of a claim for damage to a Unit or Units, (i) pay the deductible amount as a Common Expense; (H) assess the deductible amount against any one or more of the Units affected in any reasonable manner; or (iii) require the Owners of any one or more of the Units affected to pay the deductible amount directly. The Association's decision as to who shall be 6arged with paying the deductible amount may, but need not, be based on fault, Loss Day e; _ -. I su rangy _ stee. All insurance coverage maintained by the Association shall be written-in the name of, and the proceeds thereof shall be payable toy the Association (or a qualified Insurance trustee selected by it) as trustee for the benefit of the Owners and secured parties which suffer loss, The Association, or any insurance trustee selected by. it, shall have exclusive authority to negotiates settle 'and collect upon any elaims or losses under any insurance policy maintained by the Association. 9.4. Re aired folic Provisions. All policies of property insurance carried by the .Association shall provide that: 9.4.1. Each Owner and secured party is an ' sulked person under the policy with respect to liability arising out of the Owner's interest in the Common. Elements or membership in the Association. , ,�„ The insurer waives its right to subrogation. under the policy against any Owner or member of the owner's household and against the Association and members of the Board. 9.4.3. 71 e coverage shall not be voided by or conditioned upon (i) any act or omission of an Owner or mortgagee, unless acting within the scope of authority on behalf of the .Association, or (xi) any failure of the .Association to comply with any warranty or condition regarding any portion of the Property over which the Association has no control. MPLS -ward 202180,3 25