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.,, • . 9.7 Dutv to Renort Defects. Owners or Occupants shall promptly report to the • Association any defect or need for repair to those parts of the Property which the Association is obligated to maintain. 9.8 Dama�e Caused bv Owner. Notwithstanding any provision to the contrary in this , Declaration, if, in the judgment of the Association, the need for maintenance of any part of the Property is caused by the willfu!ar neglige.^.t act or omission of an Owner or Occupant,the guest or invitee of an Owner or Occupant, or by a condition in or on the Property which the Owner or the Occupant has willfuliy or negligentty allowed to exist, the Assaciaiion may cause such � damage or condition to be repaired or corrected (and enter upon any Unit and Limited Cominon Element t� do so). The cost of the repair or correction may be assessed against the Unit of the Owner responsible for the damage, and shall be a personai obligation of the Owner and a 3ien against that Owner's Unit. SECTION 10 1NSURANCE 10_1 Required CoveraQe. The Association shall obtain and maintain, at a minimum, one or more than one master policy of insurance in accordance with the insurance requirements set forth in the Act and the additional requirernents set forth herein issued by one or more than one reputabte insurance company authorized to do husiness in the state of Minnesota,as follows: i0.1.1 Property insurance in broad form covering all risks of physical loss in an amount equal to one hundred percent.of the insurable"replacement cost",of the Property, exclusive of (i)deductibles; and (ii) land, footings,excavation and other items normally excluded from coverage {but including all building service equipment and machinery): • � The Associatiori, at its sole discretion, may or may not insure the foliowing items: ceiling and wall finishing materials, floor coverings, cabinetry, finished millwork, electrical or plumbing fixtures serving a single Unit, built-in appliances, impr.ovements and betterments regardless of when installed, and any items referred to in Section ' S15B3-113(b)(i) through (vii) of the Act, but must.do so if required by the fiederal ! Nationai Mortgage Association ("FNMA"), the Federa) Home Loan Mortgage Corporation ("FHLMC"), the Federal Housing Administration("FHA"), or the secretary � of Veteran's Affairs ("VA"). The policy or policies shall cover personal property owned by the Association. The policy or policies shall afso c�ntain "Inflation Guard" and "Agreed Amount" endorsements, if reasonably available. Such policy or policies shall include snch additional endorsements, coverages and limits with raspect to the foregoing and other hazards as may be required from time to time by the regulations of the FHA, VA, FNMA or FHLMC as a precondition to their insuring, purchasing or financing a mortgage on a Unit. The Board may also, on behalf of the Association, enter into binding written agreements with a mortgagee, insurer or servicer, including without limitatian the FHA, VA, FNMA or FHLMC, obligating the Association to keep ceRain specified coverages or endorsements in effect. 10_12 Commercia! general liabiliry insurance covering the use, operation, and maintenance of the Cominon Elements, with minimum limits of one million dollars per , MPLS-Word 95281.11 24 I �