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20 <br />discretion to deal with the unique insurance needs associated with the uses of these nonresidential Units and the <br />requirements of Mortgagees. <br /> <br />10.4. Owners’ Insurance/Indemnity. Each Owner shall obtain and maintain the following insurance <br />and provide the described indemnities: <br /> <br />10.4.1. Property insurance insuring any insurable improvement within the Owner’s Unit for <br />the full insurable replacement value of such improvement. <br /> <br />10.4.2. Commercial general liability insurance covering the Owner’s Unit, and the activities <br />of the Owner, and its officers, directors, employees and agents in connection with the Owner’s <br />occupancy, operation, management and use of the Unit, including any additional coverages customarily <br />carried for unique or hazardous activities arising out of a business or activities conducted on the Unit. <br />Said liability insurance shall be in the minimum amounts of (i) $1,000,000 for an accident affecting <br />more than one person in or resulting from one occurrence and (ii) $1,000,000 property damage for each <br />occurrence. Each Owner shall, upon request of the Association or any other Owner, furnish a certificate <br />or certificates of such insurance. <br /> <br />10.4.3. Each Owner shall hold harmless, indemnify and defend the Declarant, other Owners <br />and the Association, and their respective officers, directors and employees, from and against all claims, <br />actions, damages and other liabilities, including attorneys’ fees and costs, arising out of incidents <br />occurring within such Owner’s Unit or arising out of the conduct of the Owner or Tenants of the Unit <br />or their employees, agents, contractors and guests, unless caused by the intentional or negligent act or <br />omission of the party to be indemnified. <br /> <br />10.4.4. The Owner’s insurance shall be primary as against the Association’s insurance for <br />damages to any interior improvement to the Units, and there shall be no right of contribution against the <br />Association’s insurance, with respect to damage or activities within the Owner’s Unit. <br /> <br />SECTION 11 <br />RECONSTRUCTION, EMINENT DOMAIN AND TERMINATION <br />11.1. Reconstruction. The obligations and procedures for the repair, reconstruction or disposition of <br />the Property following damage or destruction thereof shall be governed by the Act. Any repair or reconstruction <br />shall be commenced as soon as practicable after the casualty and shall be substantially in accordance with the <br />plans, specifications and design of the Property as initially constructed and subsequently improved. <br /> <br />11.2. Eminent Domain. In the event of a taking of any part of the Property by condemnation or <br />eminent domain, the provisions of the Act shall govern; provided, (i) that notice shall be given as provided in <br />Section 11.4 and 16.4; (ii) that the Association shall be the attorney-in-fact to represent the Owners in any related <br />proceedings, negotiations, settlements or agreements; and (iii) that any awards or proceeds shall be payable to <br />the Association for the benefit of the Owners and the Mortgagees of their Units, as their interests may appear. <br /> <br />11.3. Termination and Liquidation. The termination of the common interest community, and the <br />distribution of any proceeds therefrom, shall be governed by the Act, except that any distributions shall be <br />allocated based upon the value of the Units as unanimously agreed upon by the Owners, or by appraisers agreed <br />upon in writing by a majority of the Owners and Mortgagees, and shall be made to Owners and their Mortgagees <br />as their interests may appear. <br /> <br />11.4. Notice. The Association shall give written notice of any condemnation proceedings or <br />substantial destruction of the Property to the Mortgagees within ten business days after the casualty or first legal <br />notice of condemnation. <br /> <br />68