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. � 9.7 Dutv to Report Defects. Owners or Occupants shall promptly report ta the • Association �ny defect or need for repair to those parts of the Property which the Association is obligated to nnaintain. � 9.8 ; Damaae 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 c�used by the willfud or negligent act or omission of an Owner or Occupant,the guest or invitee of ian Owner or Occupant, or by a condition in or on the Property which the Owner or the Occupanit has willfulty or negligently allowed to exist, the Assaciation may cause such damage or c�ndition to be repaired or corrected (and enter upon any Unit and Limited Common Element to db so). The cost of the repair or correction may be assessed against the Unit of the Owner respo�sible for the damage, and shalI be a personal obligation of the Owner and a lien against that(bwner's Unit. SECTION l0 1NSURANCE 10.i Re�red Coveraee. The Association shall ohtain and maintain, at a minimum, one or more�than one master policy of insurance in accordance with the insurance requirements set forth in t�e Act and the additional requirements set forth herein issued by one or more than one reputabl� insurance company authorized to do business in the state of Minnesota,as follows: , ; i 0.1.1 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, exclu�ive of (i}deductibles; and (ii) land, footings,excavation and other items normally excluded from coverage {but including all building service equipment and machinery). • � The i°.ssociation, at its sole discretion, may or may not insure the following items: � ceilir� and wall finishing materials, floor coverings, cabinetry, finished millwork, electr;ical or plumbing fixtures serving a single Unit, built-in appliances, improvements and lpetterments re�ardless of when installed, and any items referred to in Section ' SISBl3-113(b)(i) through (vii) of.the Act, but must do so if required by the Federal ! Natio�nal Mortgage Association ("FNMA"), the Federal Home Loan Mortgage Corp�ration ("FHLMC"), the Federal Housing Administration ("FHA"), or the secretary � of VeJteran's Affairs {"VA"). The policy or policies shall cover personal property owned by t4�e Association. The policy or policies shall aIso contain "Inflation Guard" and "Agr ed Amount" endorsements, if reasonably available. Such policy or policies shall inclu�e such additional endorsements, coverages and limits with respect to the foregoing and dther hazards as may be required from time to time by the regulations of the FHA, VA, �NMA or FHLMC as a precondition to their insuring, purchasing or financing a mort�age on a Unit. The Board may also,on behalf of the Association, enter into binding writt n agreements with a mortgagee, insurer or servicer, including without limitatian the FHA; VA, FNMA or FHLMC, obligating the Association to keep certain specified covezjages or endorsements in effect. � 10.1.2 Commercia! general liability insurance covering the use, operatian, and main�enance of the Comjnon Elements, with minimum limits of one million dollars per MPLS-Word 95281.11 24 I I � � I I