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... • . � . 9.� DutY to Report Defects. Owners or Occupants shall promptly report t the � Association any defect or need for repair to those parts of the Property which the Associat on is obligat�d to maintain. � 9.8 DamaQe Caused bv Owner. Notwithstanding any provision to the contrary i this Declar�tion, if, in the judgment of the Association, the need for maintenance of any part f the • Propec�y is caused by the wiilfu!or negligent a�t or omission of an Owner or Occupant,the uest � or invi�ee of an Owner or Occupant, or by a condition in or on the Property which the Ow er or the Oc�Cupant has willfuily or negligently allowed to exist, the Assaciation may cause such darnag� or condition to be repaired or corrected (and enter upon any Unit and Limited Co on � Eiemer}t to do so). The cost of the repair or correction may be assessed against the Unit f the Qwnerlresponsible for the damage, and sha11 be a personal obligation of the Owner and lien against�thatOwner's Unit. SECTION 10 1NSURANCE 10.t Required Covera�e. The Association shaiJ obtain and maintain, at�a mini um, one or imore than one master policy of insurance in accordance with the insurance require ents set fort�h in the Act and the additional requirements set forth herein issued by one or mor than one re�utabte insurance company authorized to do business in the state of Minnesota,as foll ws: i0.1.1 Property insurance in broad form covering all risks of physical loss in an larnount equal to one hundred percent of the insurable"replacement cost",of the Pro erty, exclusive of: (i}deductibles; and (ii) land, footings,excavation and other�items nor ally excluded from coverage {but including all building service equipment and machi ery): � � .'The Associatiori, at its soie discretion, may or may not insure the following i ems: ceiling and waU finishing materials, floor coverings, cabinetry, finished mill ork, electrical or plumbing fixtures serving a single Unit, built-in appliances, improve ents 'and betterments regardless of when installed, and any items referred to in S ctian ' 'S15B3-113(b)(i) through (vii) of the Act, but must do so if required by the F deral ' INationat Mortgage Association ("FNMA"), the Federal Home Loan Mo gage �Corporation ("FHLMC"}, the Federal Housing Administration("FHA"), ar the sec etary � lof Veteran's Affairs {"VA"). The policy or policies shall cover personat property o ned �by the Association. The policy or policies shall also contain "lnflation Guard' and i"Agreed Amount" endorsements, if reasonably available. Such policy or policies shall include such additional endorsements, coverages and limits with respect to the fore oing and other hazards as may be required from time to time by the regulations of the HA, VA, FNMA or FHLMC as a precondition to their insuring, purchasing or financ ng a imortgage on a Unit. The Board may also,on behalf of the Association, enter into bi ding written agreements with a mortgagee, insurer or servicer, including without limitati fhe ,FHA, VA, FNMA or FHLMC, obligating the Association to keep certain spe ified coverages or endorsements in effect. 10.1.2 Commercial general 7iability insurance covering the use, operatian and �maintenance of the Comrnon Elements, with minimum limits of one million dolla per MPLS-Wqrd 95281.11 24 I I