09-26-2005 Council Packet - Laserfiche WebLink

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14.00 INSURANCE 14.01 Association’s Policies. The Association shall maintain casualty insurance coverage and general liability coverage on the Common Elements and Common Improvements. The Association may also carry any other insurance it reasonably considers appropriate. All such insurance premiums shall be a common expense. The Association may enter into binding agreements with one or more holders, insurers or guarantors of mortgages obligating the Association to keep specifled coverages in effect for specified periods and to notify a holder, insurer or guarantor of any changes to coverage. The Association shall adjust losses under any such policies and shall use casualty insurance proceeds to rebuild Common Improvements to original standards or to a functional equivalent, unless otherwise directed by vote of a majority of the Units. 14.02 Owners' Individual Policies. Each owner should carry insurance for its own benefit insuring its property, provided that ail such policies shall contain waivers of subrogation and further provided that the liability of the carriers issuing insurance obtained by the Association shall not be affected or diminished by reason of any such additional insurance carried by any owner, that is, owner’s policies shall be ’ without contribution" against Association policies. 15.00 ARCHITECTURAL RESTRICTIONS 15.01 Review of Building Plans . No improvement shall be erected, placed, or altered on any Unit until the building or ether improvement plans, specifications (including front elevation and/or architects rendering) and a plot plan showing the locations of such improvements on the particular Unit have been submitted to and approved in writing by tlie Architectural Control Committee as to conformity and harmony of external design with existing structure^ in the develo|»nent, and as to location of the improvements on uie Unit, giving due regard to the anticipated use thereof as same may affect adjoining structures, uses and operations, and as to location of the improvements with respect to topography, grade, and finished ground elevation. The Architectural Control Committee and Declarant shall not he liable to anyone in damages so submitting plans for approval, or to any owner by reason of mistake in judgment, negligence, or nonfeasance of itself, its agents, or employee, arising out of or in such plans. Likewise, anyone so submitting plans to the Architectural Control Committee for approval, by submitting of such plans, and any party becoming an owner, agrees that it will not bring any action or suit to recover for any such damages against the Architectural Control Committee or Declarant. In the event the Architectural Control Committee fails to approve or disapprove such plans and specifications in writing within thirty days after they have been submitted to the Architectural Control Committee, the plans and specifications will be deemed accepted by the Architectural Control Committee. If an improvement is begun in violation of the terms and conditions hereof, or without written approval as required, and no suit to enjoin the erection, establishment, or alteration of such improvement has been commenced prior to the completion thereof, this covenant shall be deemed to be fulfilled and in compliance. The Board, on request, will issue a certificate as to the state of compliance or noncompliance of a particular Unit, and any such certificate will be binding as to third parties. Any deviation from said plans and specifications as approved which in the judgment of the said