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,, . 9.7 Dutv to Report Defects. Owners or Occupants shall promptly report ta the • Association any deiect 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,Af the Association, the need for maintenance of any part of the Pr�perty:s caused by the wiilfu!or negliger.:a�t or omission of an Owner or Qccnpant,�he gu�st 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 negligently allowed to exist, the Association may cause such damage or condition to be repaired or corrected (and enter upon any Unit and Limited Common Elemerit to do so). The cost of the repair or correction may be assessed against the Unit of the Owner responsible for the damage, and shali be a personal obligation of the Owner and a iien against that Owner's Unit. SECTION 10 INSURANCE . 10.1 Required Coverage. 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 requirements set forth herein issued by one or more than one reputable insurance company authorized to do business 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 iterns normally excluded from coverage {but including all building service equipment and machinery). • � The Association, at its sole discretion, may or may not insure the following items: ceiling and wall finishing materials, floor coverings, cabinetry, finished millwork, electrical or plumbing fixtures serving a single Unit, built-in appliances, impr.avements and betterments re�ardless of when instal]ed, and any items referred to in Section ' . S15B.3-113(b)(i) through (vii) of the Act, but must do so if required by the Federal� ' National Mortgage Association ("FNMA"), the Federal 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 poiicies shall also contain "Inflation Guard" and "Agreed Amount" endorsements, if reasonably available. Such policy or policies shall include such addiEional endorsements, coverages and limits with respect 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 limitation the FHA, VA, FNMA or FHLMC, obligating the Association to keep certain specified coverages or endorsements in effect. 10_1.2 Commercia! �eneral liability insurance coverin� the use, operation, and maintenance of the Common Elements, with minimum limits of one million dollars per MPiS-Word 95281.11 24 ,